LEBANON

Lebanese Government Ready to Take Over Zahrani Refinery 

The Lebanese Minister of Industry and Oil Mr. Victor Kasir has formally informed the Mediterranean Refining Company (Medreco) - owned 50/50 by Mobil and Caltex - that the Lebanese Government is ready to take over Medreco's 17,000-b/d refinery and other oil installations at Zahrani in South Lebanon, following the company's decision to relinquish its assets in Lebanon effective 30 September. In a letter addressed...