We noticed you're blocking ads.

Keep supporting great journalism by turning off your ad blocker.

Questions about why you are seeing this? Contact us

Font Size

- Aa +

Tue 22 May 2007 01:17 AM

Font Size

- Aa +

Kuwait group studies $1.5bn Syria refinery

Noor Financial Investment will conduct study on building 140,000 bpd refinery.

The Syrian government signed an agreement on Monday with a Kuwaiti group to conduct a study on building a 140,000 barrels per day refinery in eastern Syria, the official news agency said.

Noor Financial Investment, a division of National Industries Group, will carry out the study for the $1.5 billion project over the next nine months, the agency said.

The government has been planning for years to invite foreign investors to build several refineries to tackle a shortage of refined products, but nothing has been built.

Syria produces 400,000 bpd of crude oil. Its two refineries in Homs and Banias have a capacity of 240,000 bpd.

Arabian Business: why we're going behind a paywall

For all the latest energy and oil news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.
Real news, real analysis and real insight have real value – especially at a time like this. Unlimited access ArabianBusiness.com can be unlocked for as little as $4.75 per month. Click here for more details.