A plan to build a $1.3 billion Pakistani-Iranian oil refinery may be taken off the back shelf, with the visit this week to Karachi by a high-level Iranian delegation, reported the Internews agency. If the talks are successful, the 120,000 barrel-per-day facility could be operating by December 2006.
The facility is to be located in Balochistan in Pakistan, near its border with Iran.
Pakistan, which is keen that the project will proceed, wants the refinery to process a variety of crude including Iranian heavy crude to be supplied by the National Iranian Oil Corporation.
Demand for petroleum products in Pakistan is around 18 million metric tons, with local refineries currently meeting around a third of this amount. – (MENA Report)
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