Syria: Russian firm submits $2 billion oil refinery offer
Syrian Minister of Oil and Mineral Resources, Ibrahim Haddad, on Sunday met the Director General of the Russian Trans KazOil Progress Company Pereiv Nizami and discussed the latter's offer to establish a petroleum refinery in Syria with a capacity of 140,000 bpd.
The new project will be implemented according to Investment Law No.10. The Russian Company will submit a feasibility study that takes into consideration all conditions surrounding the project and requirements of crude oil to supply refinery and selling the oil products, resulting from the project, by world process, SANA reported.
Following the meeting, Haddad said that the Russian firm submitted a request to the Investment Bureau to establish this refinery with an amount of $2 billion. "The refinery will play an important role in developing the oil industry in Syria and increasing petroleum products locally manufactured," the Syrian minister added.