Syria has agreed a US $2.6 billion contract with Iran, Venezuela and Malaysia for the construction of an oil refinery at Furoqlos, near the city of Homs in central Syria.
The facility will have a refining capacity of 140 000 barrels per day (bpd) with Venezuela receiving 33% of the revenues, Iran and Malaysia getting 26% each and Syria the remaining 15%.
The refinery will be provided with 42 000 bpd of crude oil from Venezuela; Iran will give 28 000 barrels and Syria 7 000 bpd for at least 25 years. Malaysia will provide the refinery with machinery, the ministry said in a statement.
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