Syria cancels refinery deal

06 April 2010

Syrian oil minister Sufian Alao has said the government has cancelled a 140,000 bpd refinery deal with Kuwait's Noor Financial, Reuters has reported. The two sides signed a memorandum of understanding in 2007 to construct the $1.7bn refinery. Later that year, they signed an agreement with British consultants Wood McKenzie for a feasibility study. The minister did not give a reason for the cancellation, but said the government is in talks with other foreign investors for them to build two other refineries with a combined capacity of 240,000 bpd.

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