VOL. XXXIV

NO. 33

20-MAY-1991

Iran

Iran and Pakistan to Build Joint Oil Refinery

Iranian and Pakistani Oil Ministers signed on 16 May a memorandum ofunderstanding for the establishment of a jointly-owned crude oil refinery inKarachi costing $590mn. Under the agreement, Iran will supply the crude oil andeach country will hold 50% of the shares. The refinery will process 120,000 b/d,doubling Pakistan's current refining capacity. Pakistan's Minister of Petroleumand Natural Resources, Mr. Nisar Ali...