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Iran and Japan sign petrol agreement

Iran and Japan sign petrol agreement
ID : N-1714 Date : 2018/05/06 - 09:39

(Persia Digest) – The Managing Director of Tehran oil refinery has announced the signature of an agreement with Japanese companies to improve the quality and quantity of petrol production and reduce the use of fuel oil. He stated: “Petrol production in the Tehran refinery will increase by 24 percent following the implementation of the first phase of the project.”

Speaking about the agreement signed between JGC Corporation and Marubeni of Japan, Lotfollah Hangui said: “A new Conradson carbon residue unit (Concarbon" or "CCR") will be built in Tehran refinery to eliminate benzene and reach Euro 5 petrol standards.”

He added: “The agreement is in two parts for CCR and reduction of fuel oil. In the Concarbon section, we are pursuing the reduction of benzene to reach Euro 5 petrol standards. The construction of a new hydrogen purification unit will increase capacity to 16 thousand barrels, continuous catalytic conversion to 14 thousand barrels, and reduce benzene by 24 thousand barrels.”

He continued: “The capital required for CCR is USD 400MM. The project will be implemented from the middle of this year, over three years.”

An isomerization unit was also added to the Tehran refinery about six years ago with an 18 thousand-liter capacity at Euro standards.

Petrol production capacity will double

The Managing Director of Tehran refinery continued: “The second stage of the project is aimed at reducing fuel oil. Presently, more than 20 percent fuel oil is used (around 55 thousand barrels/day). Our goal is to reduce this to 5 percent (12 thousand barrels) and convert the surplus to byproducts with Euro 5 standards.”

The project will start from 2019 and the estimated completion time is four years. It will cost USD 2BN and 800 MM.

Hangui added: “Following completion of both phases of the project, the capacity for Tehran refinery will increase 100 percent and all products will have Euro 5 standards.”

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