Isfahan Oil Refining Company
Isfahan Oil Refining Company is a Tehran Stock Exchange-listed public joint-stock refinery in Isfahan, Iran, operating under NIORDC supervision. Established in 1976, it processes crude oil into transport fuels, fuel oil, jet fuel and downstream feedstocks through a refinery with stated capacity of 375,000 barrels per day. It is consequential for Iranian domestic fuel supply and industrial product chains.
Market position
A large Iranian refinery with crude-processing capacity of 375,000 barrels per day as of 2023. A 2020 figure placed its output at more than 20% of Iran’s required petroleum products.
Operations & footprint
Products and services
Isfahan Oil Refining Company refines crude oil into petroleum products serving transport fuel, industrial energy, petrochemical feedstock, and domestic distribution markets. Its output is linked to central Iran’s industrial belt, Isfahan’s manufacturing base, downstream energy users, and national fuel-supply chains rather than a purely export-facing coastal model.
Operations and assets
The Isfahan refinery has stated crude-processing capacity of 375,000 barrels per day as of 2023. Its product slate spans transport fuels, fuel oil, jet fuel, naphtha, base oils, solvents, sulfur and intermediate refinery streams.
Geographic footprint
Operations are based in Isfahan, Isfahan Province, serving domestic Iranian fuel, industrial and downstream petrochemical supply chains.
Ownership & group structure
Ownership
Public joint-stock company in the private sector under the supervision of the National Iranian Oil Refining and Distribution Company (NIORDC).
Commercial and investment relevance
In the Hormuz investment graph, Isfahan Oil Refining Company connects crude processing, refined-product distribution, central Iran’s industrial demand, transport fuel needs, petrochemical feedstock links, and public-market visibility. It is useful for assessing inland refinery economics, fuel-supply resilience, industrial energy exposure, and the relationship between Isfahan’s manufacturing ecosystem and national petroleum logistics. Commercial interpretation should verify product flows, disclosure data, environmental obligations, policy constraints, counterparty risk, and compliance exposure before being treated as actionable intelligence. The refinery is a material counterpart for crude and product logistics, fuel distribution and procurement, and downstream buyers of naphtha, base oils and other refinery streams. Named feedstock customers include Naft Ghaem, Iranian Chemical Industries, Arak Petrochemical, Isfahan Petrochemical and Sepahan Oil Company.
Constraints, risk & compliance
Key risks and constraints
Commercial performance is exposed to refinery utilisation, crude availability and allocation, domestic petroleum-product pricing and distribution policy, and the operating requirements of a large inland refinery. Product volumes by grade and project-level operating changes require transaction-specific review.
Sanctions and compliance considerations
Iran’s oil-refining sector and relationships connected to NIORDC require sanctions screening of the company, counterparties, cargoes, payments, insurers and logistics providers under applicable jurisdictional rules.
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Frequently asked questions
Direct answers to the questions most likely to arise when reviewing this profile.
What does Isfahan Oil Refining Company produce?
Its refinery produces LPG, gasoline, kerosene, diesel, fuel oil and jet fuel, as well as naphtha, base oils, solvents, sulfur and other refinery streams.
Where is Isfahan Oil Refining Company located?
The company is based on the Isfahan–Tehran Road in Isfahan, Isfahan Province, Iran.
Is Isfahan Oil Refining Company publicly listed?
Yes. It is listed on the Tehran Stock Exchange under the Persian ticker شپنا and the symbol SHZPNA.
What is the refinery’s stated processing capacity?
NIORDC listed crude-processing capacity at 375,000 barrels per day as of 2023.