TEHRAN- National Iranian Oil Refining and Distribution Company (NIORDC) has improvement of refining process at the country’s oil refineries atop agenda of its activities in the current Iranian calendar year (began on March 19), according to the deputy managing director of company.

Hamid Qasemi Dah-Cheshmeh also said that the company’s major part of activities are currently on converting and manufacturing dual-fuel vehicles in the country.

In early December 2019, NIORDC signed a memorandum of understanding (MOU) with state-owned automaker Iran Khodro Company (IKCO) to add new dual-fuel vehicles to the country’s public transportation fleet.

Based on the mentioned MOU, the two sides agreed to cooperate in converting or manufacturing 1.46 million dual-fuel vehicles to be added to the public transportation fleet.

The program is expected to reduce the country’s daily gasoline consumption by 10 million liters and save the government 200 trillion rials (about $4.7 billion).

Six months ago, Iran started a program for the rationing of subsidized gasoline and increased fuel prices to reduce the energy subsidies and to use the revenue for supporting underprivileged families.

According to the spokesman of Iranian Oil, Gas and Petrochemical Products Exporters Union (OPEX), the gasoline rationing scheme has made it possible for the country to export 25-30 million liters of gasoline every day.

Iran produces 115 million liters of gasoline per day, of which 60 to 65 million liters are provided as subsidized fuel and another 20 million liters are sold in the free market, the rest which is about 30 million liters is exported.

MA/MA