Baku, Azerbaijan, May 23
By Elnur Baghishov – Trend:
A contract has been signed for the construction of a mazut refinery in the Isfahan Oil Refinery located in Iran’s Isfahan Province, Trend reports referring to Shana News Agency.
Alireza Sadeghabadi, Iran's Deputy Petroleum Minister, said during the signing ceremony that the contract is worth 600 million euros.
According to him, the contract was signed between the refinery and Iran’s Nargan company.
Sadeghabadi added that the processing of mazut and its conversion into valuable products is one of the main programs of the National Iranian Oil Products Distribution Company (NIOPDC).
Noting that the project on the reduction of mazut production is being carried out at the Abadan Refinery, Sadeghabadi expressed hope that the oil refineries in Tehran, Tabriz and Bandar Abbas will also be able to implement this project.
Morteza Ebrahimi, CEO of Isfahan Oil Refinery, also said that the refinery mainly produces 3 products, namely mazut, Euro 4 petrol and diesel.
According to Ebrahimi, a contract was signed earlier with a foreign company on a mazut refinery. With the US imposing sanctions on Iran, this foreign company left the country.
Also, Fereydoun Keyhani, Managing Director at Nargan Company, said that the contract duration is 36 months.
The NIOPDC will monitor the implementation of the project.
The US imposed sanctions on Iran in November 2018.