Modification of refineries needs investment

TEHRAN ( Iran News ) – Iranian Oil Minister Bijan Namdar Zanganeh said modification and improvement of the country’s refineries needs $10 billion of investment. The minister made the remarks in an open session of Parliament on Monday, answering a question about supplying low-sulfur fuel for Iranian vessels, IRNA reported. The International Maritime Organization (IMO) introduced new regulations to reduce air pollution resulting from the use of high-sulfur fuels by vessels.