Iran, Japan sign MoU on improving gasoline quality

Referring to the MoU signed with JGC Corporation and Marubeni Corporation, the managing director of Tehran Oil Refining Company said new departments are to be built in Tehran Refinery to ensure production according to Euro 5 standard.

The project needs $ 400m investment, he said.

The project is also aimed at decreasing mazut, he said, adding that mazut output is now over 20% which is about 55,000 barrels per day.

JGC Corporation, formerly Japan Gasoline Co., is a global engineering company headquartered in Yokohama, Japan. The company was founded on 25 October 1928. In 1976, it changed its original name from Japan Gasoline Co. to JGC Corp.

Marubeni Corporation is general trading company headquartered in Ōtemachi, Chiyoda, Tokyo, Japan. Marubeni is the fifth-largest sogo shosha and has leading market shares in cereal and paper pulp trading as well as a strong electrical and industrial plant business.

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