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Russia’s Stroytransgaz mulls $2b oil refinery in Syria

Source: Tehrantimes 11/8/2005, Location: Middle East

Russian company Stroytransgaz has proposed constructing an oil refinery and petrochemicals plant in Syria at an estimated cost of $2 billion, Syrian oil minister Ibrahim Haddad said. Haddad said that the Russian firm will carry out a feasibility study for the 140,000 barrel per day refinery.

“The Ministry of Oil has responded (positively) to the request and offered all it takes to support the launch of the project in Syria,” the official news agency of Syria quoted Haddad as saying.

Syria —- a non-OPEC oil producer —- has two state-owned oil refineries with a combined output capacity of 250,000 barrels per day. Industry sources estimate Syria’s crude oil production capacity at about 400,000 barrels per day with exports of about 250,000 barrels per day including refined oil products.

Haddad said Syria would sell crude oil to the new refinery and buy refined products from it at international prices, but did not give further details.

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