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News // Oil and gas worldwide

Oil Refinery In Syria: China Walks Through Procedures

04 April 2008 , 09:53475
China has signed an agreement with Syria to build an oil refinery in the Arab country as part of plans to ear out cooperation in the oil and gas industry, the official SANA news agency reported on Thursday.

The deal was signed Wednesday alongside an agreement by China to provide Syria with $3 million to finance a series of joint projects in oil, telecommunication and agriculture.

The two countries also signed a framework deal to bolster oil and gas cooperation, including oil exploration, SANA said.

The agreements were signed by representatives of the China National Petroleum Corp. and Syrian Oil Ministry officials on the sidelines of a visit to Damascus by a Chinese communist party delegation, the agency added.

In July, Chinese media reported Beijing was planning a series of oil-related projects in Syria, including a $1 billion oil refinery.

Over the past years Syria has signed several oil and gas deals with foreign companies and launched tenders for exploration in both sectors in a bid to boost its dwindling energy output.

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