Iran to begin overseas refining in Syria
Iran is in talks with Syria to start overseas refining in Homs refinery, according to an official familiar with the talks.
Ali Shahverdi said on Sunday that Iran has requests from countries such as Nicaragua, Cuba, South Africa, and Central Asian countries for refining cooperation while noting that the main option will be the Homs refinery.
He said that “We are reaching a contract with Syria like the one with Venezuela’s El Palito refinery".
Touching upon the El Palito refinery which is Iran’s first-ever overseas refining project, he said that “we increased the refinery’s capacity from 20,000 barrels to 80,000 barrels in the first phase".
Shahverdi also said that the development of the Homs refinery will include 120,000 barrels in the first phase.
When the projects are complete, Iran will be exporting 120,000 barrels of oil from the El Palito refinery and 140,000 barrels from the Homs refinery, the official said.
He added that Iran also plans to start operations in the Banias refinery in Syria after the completion of the Homs refinery.