Iran, Pakistan agree to build major oil refinery
Iran has signed a memorandum with Pakistan to build a big
refinery with daily 400,000 barrels refining capacity, Fars news
agency reported.
The agreement was reached while the neighboring countries signed
contract to build Iran-Pakistan gas pipeline with annual 7.8
billion cubic meters capacity.
Iran's Tadbir energy company will carry out construction of over
780 km length pipeline inside Pakistan and Iran obligated to pay
$500 million loan for this project.
According to Fars, based on the agreement, the two nations
discussed building an oil pipeline for supplying 400,000 barrels of
Iranian crude oil to Pakistan as well.
The agreement of refinery building and supplying crude oil is
scheduled to be signed during Pakistani President Asif Ali
Zardari's visit to Tehran on February 27.
According to initial agreement, Pakistan would give a land in
Gwadar port to Iran for building mentioned refinery.
No further information was provided on the details of the
Iran-Pakistan oil trade and the refinery building.
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