Memo of modernizing Mareb Oil Refinery signed with Korean company
The Source: www.sabanews.net - 22/11/2009
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Ministry of Oil and Minerals represented by the Yemeni Company for Oil Infiltration signed on Sunday with a Korean company for constructions a memorandum of understanding to modernize Mareb Oil Refinery at sum of $ 150 million. Under the memo, the Korean company would carry and fund the project of modernizing the refinery in cooperation with some Korean banks to raise capacities of the refinery from 10,000 barrels to 25,000 barrels daily in order to meet the growing need of local market of oil and gas derivatives.It is worth mentioning that the Mareb refinery was operated in 1986 at capacities of 10,000 barrels per day.
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