BAKU, Azerbaijan, May 1. Iran's Tehran Oil Company plans to spend 2 billion euros in the next few years to increase production and quality, the executive director of Iran's Tehran Oil Refining Company, Mohsen Iranzadsaid, Trend reports.
According to him, several projects on production and quality improvement will be worked out. An example of such a project is the RHU (Residue Hydrotreating Unit) project. A total of 700 million euros will be spent on this project.
Iranzad stated that construction work is currently ongoing at the company's CCR (Continuous Catalytic Reforming) site. The work is currently 65 percent complete. This unit is planned to be put into operation by the end of this year (March 20, 2025).
The official added that the RRFCC (Refinery’s Residual Fluid Catalytic Cracking) section is planned to be built and put into operation within the next 4 years.
To note, Tehran Oil Refining Company was established in 1967. This company has the potential to refine 250,000 barrels of crude oil per day. Currently, the company produces daily white oil, diesel, vacuum fuel, solvents, and other products in addition to gasoline. The company's current capital is 275 trillion rials (about $6.55 billion). Saderat Bank, Iran Investment Company, and Tehran Investment Company are the major shareholders of Tehran Oil Company.
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