Middle East Economic Survey

VOL. LII

No 48

30-Nov-2009

IRAN

NIORDC And Sinopec Sign MOU For $6.5Bn Refineries Financing

The National Iranian Oil Refining and Distribution Company (NIORDC) has signed a memorandum of understanding (MOU) with Chinas Sinopec for the provision of $6.5bn of finance for the development and construction of Iranian oil refineries, Mehr News Agency reported on 24 November. Sinopec is already involved in the construction of the 300,000 b/d Hormoz refinery in southern Iran,...