• Short Summary

    A closure threat to a United States-owned oil refinery in Southern Lebanon has been averted temporarily, after last-minute talks between company representatives and Lebanese Government officials.

  • Description

    A closure threat to a United States-owned oil refinery in Southern Lebanon has been averted temporarily, after last-minute talks between company representatives and Lebanese Government officials.

    The Zahrani refinery, near Sidon, about 25 miles (40 KM) south of Beirut, was threatened with closure at midnight on Wednesday (28 February) by its owners, the Mediterranean refinery company (MEDRECO).

    The company, owned by Caltex and Mobil, warned it would stop operations and hand over administration to Lebanon unless agreement was reached on new royalties and fees.

    MEDRECO agreed to extend its ultimatum for three months after talks on Wednesday with Lebanese Economy Minister Anwar Al Sabbah and Oil and Industry Minister Pierre Helou.

    The refinery was built in 1945 at the terminal of the Trans-Arabia pipeline carrying Saudi Arabian crude oil. It produces about 17,000 barrels per day and employs a staff of 1,500.

    SYNOPSIS: A threat to close this United States-owned oil refinery in Southern Lebanon was narrowly averted on Wednesday. Last-minute talks between company and government officials produced a three-month reprieve.

    The Zahrani refinery, about twenty-five miles south of Beirut, is owned by the Mediterranean refining company, MEDRECO.

    MEDRECO warned it would close the refinery at midnight on Wednesday and hand over its running to the Lebanese Government unless agreement was reached on new royalties and fees.

    The company agreed to extend its ultimatum for three months during talks with Lebanese Economy Minister Anwar Al Sabbah and Oil and Industry Minister Pierre Helou.

    The refinery was built in 1945 at the terminal of the Trans-Arabian pipeline. Its operating company is owned by Caltex and Mobil. About 1,500 workers are employed in refining some 17,000 barrels of oil a day.

  • Tags

  • Data

    Film ID:
    VLVA1H7H8IZG6K4D6ZJK995UL8F76
    Media URN:
    VLVA1H7H8IZG6K4D6ZJK995UL8F76
    Group:
    Reuters - Including Visnews
    Archive:
    Reuters
    Issue Date:
    02/03/1973
    Sound:
    Unknown
    HD Format:
    Available on request
    Stock:
    Colour
    Duration:
    00:01:01:00
    Time in/Out:
    /
    Canister:
    N/A

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