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EghtesadOnline: Japanese and Iranian firms are to cooperate on feasibility study to minimize the fuel oil level in Bandar Abbas Refinery, Managing Director of Bandar Abbas Oil Refining Company Hashem Namvar said on Saturday.

Public Relations Department of Bandar Abbas Oil Refining Company quoted Namvar as saying that such projects are usually conducted in partnership with foreign companies, so talks were held with well-credited Japanese, Korean and Chinese companies and over the past two months, a deal with signed with two consortiums, consisting Iranian and Japanese companies.

According to IRNA, he said the project envisions cutting the amount of fuel oil to upgrade quality of products.

He added that such a project is very strategic and valuable.

Bandar Abbas Oil Refining Company is one of the nine refining companies of Iran, established on 700 hectares of lands in the northern bank of the Persian Gulf waters.

It was put into operation to address part of the domestic oil product shortage and export the surplus.

The refinery's nominal capacity was 232,000 bpd by end of July 2008 and it reached 320,000 bpd in August 2008 thanks to endeavors of domestic experts.

refinery Iran-Japan cooperation oil level Hashem Namvar