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Iranian Minister of Petroleum Bijan Zangeneh said the country could supply the needs of ocean-going vessels (OGC) to low-sulfur fuel domestically.
Addressing the parliament on Monday. Mr. Zangeneh assured the representatives that the country could currently supply the needed fuel for ocean-going vessels with less than half a percent of sulfur content.
He pointed out that in 2017. the daily production of fuel oil in the world was 1 million tons per day. of which only 2% had a sulfur content of less than half a percent in accordance with the International Maritime Organization (IMO) standards. Totally. two thirds of the total fuel oil consumed as fuel for vessels had a sulfur content of over 2.5 percent.
The official further said that Iranian refineries currently had the capacity to supply 40.000 tons of fuel oil of which 13.000 tons d were produced and re-processed at Abadan Refinery. Iran is now also producing 20.000 tons of high-sulfur fuel oil.
The Iranian Minister of Petroleum further asserted that Iran would need a $10b investment to upgrade refineries in order to produce more low-sulfur fuel of vessels.
