The Persian Gulf Star Refinery, Iran's largest gasoline producer and the world's largest gas condensate refinery, plays an unparalleled role in Iran's energy supply by producing more than 45 percent of the country's fuel portfolio.

As a new wave of sanctions from the United States, Britain and the European Union target sales of Russian and Iranian oil, trade sources told Reuters that discounts on Iranian oil for Chinese customers have reached their widest in more than a year, reaching as much as $10. Reduced oil import quotas for independent Chinese refiners have also added to the pressure.

This resignation is related to a project called Hirsa Polymer Sahand Petrochemical, which has serious uncertainties about how it will be handed over to a second-hand contractor.