Economic feasibility for Chinese Refinery in Deir al-Zour has been finished
Chinese side has finished the economic feasibility for Establishing Chinese refinery in Deir al-Zour with refining power of 100.000 barrel a day.
Eng. Nour Eddin Makhlouf General Manager of General Establishment of Oil refining and Oil derivatives said that the French Company PICIP has evaluated the feasibility that presented by the Chinese side .. Now it is in its final stages of discussion and evaluation.
He added that many alternatives for the refinery location are under study.. there will be a contract with specialized company to carry out the Topographic and geotechnical of the chosen location.
It is noteworthy that the project to establish a joint refinery with the Chinese side at the site of Abu Khashab is in accordance with the Memorandum of Understanding signed between the two sides in September 2005, which provided for the establishment of a joint can about 100 thousand barrels per day of mixed Syrian Oil and respected world-class environmental conditions that the partnership by 85 percent, to Chinese CNPC Company ,and 15 percent of the Syrian side on the Syrian side that will provide land for the project.
global crude oil is offered in world prices as well as the buying prices of petroleum products in the world while the Chinese side to prepare the studies and the establishment of facilities and extend the value of the partnership as a memorandum of understanding for 50 years, renewable with the consent of the parties