Tehran Oil Refinery to increase gasoline output by 24 percent

Hangi said a memorandum of understanding was inked with Japanese firms , JGC Corporation and Marubeni Corporation, to improve both the quality and quantity of gasoline produced at Tehran Oil Refinery.

The aim of the MoU is to omit benzene in production of quality gasoline in conformity with the Euro 5 standards, he said.

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.

The second phase of the project seeks to reduce mazut from 20 percent (around 55,000 barrels a day) to five percent and its processing into other products according to Euro 5 standards, he said.

The project will be launched in 2019 and is estimated to be complete in a four-year time at a total expense of 2.8 billion dollars, he said.

Last year, he said, over 800 contracts worth 550 billion rials were signed with Iranian companies including one for purchase of Iranian-made catalysts from Exir Novin firm.
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