VOL. XL

No. 32

11-August-1997

UAE

Crescent/PERAC Hydrocracker Project Back On Track

MEES is informed that the joint venture 1.65mn ton/year hydrocracker projectbetween the Sharjah-based Crescent Petroleum and the Pakistan State Refining andPetrochemical Corporation (PERAC) is back on track. The sponsors are currently discussinga different incentive system to determine the project's viability and this is shortly dueto go to the Pakistani Government for approval. The search for a new mechanism...