Japan, Iran MoU on Improving Gasoline Quality

Date: 06 May 2018 - 21:23

News ID: ۵۲۶۱۶

TEHRAN (Dispatches) - Managing Director of Tehran Oil Refining Company Lotfollah Hangi has announced that Tehran and Tokyo have signed a contract to improve the quality of domestically-produced gasoline in a bid to increase the commodity's output by nearly one-fourth.
"Production of gasoline at Tehran Oil Refining Company is about to increase by 24 percent, with implementation of the first phase of the agreement with Japan’s JGC Corporation and Marubeni Corporation," Hangi said.
The senior official reiterated that the MoU will be launched in 2019; it will take 4 years to complete and at a total expense of 2.8 billion dollars.
He underlined that MoU signed between Iran and Japan aims at improving the quality and quantity of produced gasoline and reduce the use of fuel oil.
"The MoU aims at omitting benzene in production of quality gasoline in conformity with the Euro 5 standards.
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 is a major Japanese integrated trading and investment business conglomerate that handles products and provides services in a broad range of sectors. It 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.