Speaking to reporters on Monday morning, the official the permits for building two refineries with a daily refining capacity of 300,000 and 150,000 barrels have been issued to the Execution of Imam Khomeini's Order (EIKO) and one of the subsidiaries of Bakhtar Petrochemical Company (Petro-refinery), respectively.

He also said that the first item to be exported from Jask Export Terminal would gas condensate from South Pars which would take place next calendar year.

The current Iranian calendar year began on March 21.

Whether Iran could supply low-sulfur fuel for vessels which would soon become mandatory, the Iranian Minister of Petroleum said Iranian refineries were capable of producing this type of fuel to some extend and would supply their excess demand from the market.

However, he said, if they fail to do so, according to a paragraph in the International Maritime Organization (IMO), ships that failed to get low-sulfur fuel by conventional efforts can use high-sulfur fuel.