22-02-09 Iran has a 26 % stake in the construction of a $ 2.4 bn oil refinery in Syria, National Iranian Oil Engineering and Construction Company (NIOEC) director for overseas projects stated.
Hamid Sharif Razi as saying that the National Iranian oil company (NIOC) has also undertaken to supply 20 % of the refinery's crude oil feedstock.

He said that the 140,000-barrel-per-day refinery will be constructed through a joint venture by Iran, Syria, Malaysia and Venezuela. The project site is in Furoqlos, near the city of Homs, some 160 km north of the Syrian capital Damascus.
"Syria holds a 15 % share of the investment, with Venezuela 33 %, Malaysia 26 %, and Iran 26 % of the joint venture," he added.

National Iranian Oil Refining and Distribution Company (NIORDC), Venezuelan state oil firm PdVSA, and the Malaysia Oil company signed the contract on October 30, 2007.