According to NIORDC, Muhammad-Sadeq Azimifar, deputy oil minister and CEO of NIORDC, and Farshad Moqimi, deputy industry, mining and trade minister and chairman of IDRO’s board of directors, signed the agreement on Saturday via video conference with the Abadan Oil Refinery, coinciding with the anniversary of the liberation of Khorramshahr.

Key objectives of the agreement include:

- Collaboration between the Abadan Refinery and the Kermanshah Biorefinery (Zagros Green Fuel Development Company) to supply biofuel-based gasoline.

- Establishing incentives to develop production, distribution and use of bioethanol-based gasoline.

- Forming a biofuel pricing committee to regulate the market and protect the rights of producers and consumers.

- Creating a mechanism to facilitate the purchase of fuel-grade bioethanol from domestic biorefineries.

NIORDC will work through its distribution arm to provide the necessary infrastructure and facilities for supplying biofuel-based gasoline at selected stations. Additionally, a committee led by NIORDC will develop incentives to promote the production and use of ethanol-based gasoline.

Under the agreement, IDRO will oversee the supply of raw materials and monitor fuel-grade bioethanol production by Zagros Green Fuel Development Company.

 A committee of stakeholders will also determine fair pricing for bioethanol fuel and draft necessary regulations.