Iran to produce customized crude in two years

TEHRAN, Jun. 07 (MNA) – IOTCO managing director has said Iran is planning to produce customized oil in collaboration with a European company.

Managing Director of Iran Oil Terminals Company (IOTCO) Pirouz Mousavi made the remarks adding “the project is estimated to become implemented in two years.”

“In partnership with a European company, IOTCO will be able to launch the production of customized oil items by mixing and combining various kinds of petroleum and crude oil,” he added.

Mousavi went on to note that “in addition to European firms, Research Institute of Petroleum Industry (RIPI) of Iran will also participate in the project.”

He deemed it as necessary for high profile oil terminals in the world to be able to deliver customized oil products to their customers.

Each of the world’s refineries have been constructed to process only certain kinds of crude oil as any change in the composition of the input oil will require significant changes in systems and equipment imposing heavy prices.

Accordingly, the ability of crude oil terminals to produce customized oil is considered to be distinctive features that refineries would welcome as a method to attract many customers.

The process is usually carried out by mixing different types of crude oils.

Iran enjoys tens of offshore and onshore oil wells which yield many kinds of light, heavy, soar and sweet oil products.

This gives the country the great power to produce customized versions of various oil products.

 

HA/IRN82103530

 

 

News Code 117175

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