Syria, Iran, Venezuela sign petroleum agreement

November 1, 2006 17:09

Syria, Iran and Venezuela have signed a preliminary agreement to establish a petroleum refinery in Syria capable of processing 140,000 barrels a day, Syria's official news agency reported Wednesday. The memo was signed Tuesday by Syria's deputy oil minister Hassan Zeinab, his Iranian counterpart, Mohammad Nematzadeh, and Roberto Delgado, general-director of oil refineries in Venezuela, SANA said. It quoted Syrian Oil Minister Sufian Allaw as saying that the parties agreed to form a joint committee of technicians from the three countries to implement their memorandum of understanding. Allaw said the refinery would help "boost the national economy in Syria and ensure the necessary oil derivations for local consumption." He did not elaborate.

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