Russian Firm To Build Petroleum Plants In Syria

Russian company Stroytransgaz is to build an oil refinery and petrochemicals plant in Syria, Syrian oil minister Ibrahim Haddad said on Sunday.

The construction is estimated for $2 billion.

Haddad said Stroytransgaz Oil Progress in Damascus that the Russian firm will carry out a feasibility study for the 140,000 barrel per day refinery.

Syria 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.