SHANA -- Iran�s Bandar Abbas Oil Refinery earns 350 million dollars in profits annually, the plant�s CEO said.

Addressing a press conference on the occasion of inauguration of a major project to enhance the facility�s productivity on Sunday, February 17, Hashem Namvar said by launching the project, the sulfur content of the plant�s gasoil output would drop from 10,000 ppm to below 50 ppm.

He said the project also improved the petrol quality of the plant and bring it to Euro-5 standards. The refinery will be supplying 4 million liters per day of the strategic fuel.

The project increases the refinery�s petrol production capacity by 3 ml/d and 70 percent of its output meets Euro-4 standards.

Moreover, commissioning the gasoil hydrogen refining unit of the facility would add 15 million liters per day of Euro-4 gasoil to the plant�s daily production capacity, and the petrol quality of the refinery is expected to meet Euro-4 standards by March.

Before inauguration of the project, the plant supplied 12 ml/d of petrol and was fed by 350,000 b/d of crude oil and gas condensate. It is touted as the third largest oil refinery in Iran.