Syria to Establish Two Oil Refineries

Published December 11th, 2019 - 07:39 GMT
Syria to Establish Two Oil Refineries
Head of the Syrian regime Bashar al-Assad has earlier referred these two bills along with the contract to the country’s parliament. (Shutterstock)
Highlights
According to sources in Damascus, the parliament has approved an agreement to establish two companies, the “Coast Refinery” and the “Rusafa Refinery”.

The Syrian Parliament has approved two bills to establish two private companies operating in the field of oil refineries.

A company affiliated with “Katerji Group,” which is owned by a businessman on a Western sanctions list, will be part of these companies.

According to sources in Damascus, the parliament has approved an agreement to establish two companies, the “Coast Refinery” and the “Rusafa Refinery”.

Approval was granted after the parliament had reviewed a report by the committee specialized in studying the partners’ agreement to establish a joint-stock company under the Coast Refinery Company.

The company is aimed at establishing, operating and managing an oil condensate refinery.

The agreement was signed between the Ministry of Petroleum and Mineral Resources and the General Organization for Refining and Distribution of Petroleum Products (GORDPP) as the first party, and Arvada and the Lebanese Sallizar Shipping SAL as the second party, Russia Today (RT) news website reported.

The parliament also approved the bill that includes ratifying a contract signed on September 19, 2019 between the Ministry of Petroleum and the contractor, represented by “Arvada” and “Sallizar Shipping SAL.”

The contract aims to develop and expand the Tartous oil terminal, establish a new oil transportation system, and rehabilitate and maintain the existing oil transportation system in accordance with the provisions of the contract and its appendices.

Head of the Syrian regime Bashar al-Assad has earlier referred these two bills along with the contract to the country’s parliament.

It is noteworthy that there are two government oil refineries in Syria. One in the coastal city of Baniyas and the other in the central city of Homs.


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