Syria calls for rapid construction of joint refinery
Posted: 28 January 2008
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In a state order to the country’s oil ministry, Syrian President Bashar al-Assad called for rapid construction of a $2.6 billion joint venture refinery to be built by Syria, Iran, Venezuela and Malaysia, IRNA news agency reported.
The refinery is designed to have a nominal capacity of 140,000 barrels per day (bpd). The report said that 70,000 bpd of the refinery feedstock will be supplied by the Syrian oil ministry, 28,000 bpd by Iran and 42,000 by Venezuela .
The project, which will be built 150 kilometers north of Damascus, was proposed by Venezuelan President Hugo Chavez during his visit to Syria in August 2007 and its agreement document was later signed by these four countries, the Iranian news agency said.
Syrian oil output is reportedly around 400,000 bpd which brings in around $3 billion per year. |
