Syria, Iran, Malaysia and Venezuela ink 2.6-billion-dollar oil deal

October 31, 2007

DAMASCUS (DPA) — Syria, Iran, Venezuela and Malaysia signed Tuesday a 2.6-billion-dollar contract to establish an oil refinery in central Syria with a capacity of 140,000 barrels per day (bpd). Under the agreement, Venezuela will have 33 per cent of revenue while Iran and Malaysia will take 26 per cent and Syria 15 per cent in accordance with each partner’s funding of the refinery, the Syrian oil ministry said in a statement. Full Report