Iraq Plans to Spend $9bn on 4 Refineries

Iraq plans to build four new refineries with an announcement expected in 2011, the country’s deputy Oil Minister Motassam Akram Hassan said on Sunday, adding that the bidding round could be conducted for all four refineries at once.

Reuters reports that total expenditure on the four plants is expected to be at least $9 billion.

Asked how many refineries Iraq planned to build, Akram listed four sites: Kirkuk, Kerbala, Nassiriya and Maysan.

“The [refining] capacity in the south is not enough to export,” Akram said.

Iraq’s eight oil refineries have a capacity of 659,000 bpd, and the new refineries will more than double this:

  • Nassiriya, southern Iraq, 300,000 bpd;
  • Kirkuk, in the north, 150,000 bpd;
  • Maysan, in the south, 150,000 bpd;
  • Karbala, close to Baghdad, 140,000 bpd.

(Source: Reuters)

http://www.iraq-businessnews.com/category/oil-gas/

6 Responses to Iraq Plans to Spend $9bn on 4 Refineries

  1. lonnie November 2, 2010 at 3:08 pm #

    This is good news as other posting about progress now as alot of people when is the RV of the Dinar to come

  2. andry November 2, 2010 at 6:24 pm #

    when’s the RV? When’s the RV? I’m so tired of the question! Only God knows when, ask Him and then keep it to yourself, IF you get an answer. There are so many complex situations that mortal men can only stumble through. I am confident it’ll happen, but when, you know who knows. QUIT ASKING A QUESTION NO ONE KNOWS! Be patient, and if you’ve made a wise investment, it won’t put you in the poor house if it takes another 20 years. Stay on top of current events, and learn something other than subtraction.

  3. Ron B November 2, 2010 at 8:37 pm #

    It is good to see the Iraqi’s drumming up commercial business, but they (and us) need the RV big time to put everything into perspective and allow the people of Iraq the opportunity to see a Democratic Society working in their favor.

  4. BARBARA November 3, 2010 at 2:44 pm #

    Please I only hope each day I will read the Dinar is ready and in place to cash so in. I am retired and we don’t get a rise this coming year by insurance keep going up, up, and up. We only need to cash in a small amount to get out of debit and purchase new trucks to go to the doctors in. I hope it not going to be 2to 5 years from now
    i don’ t think I will be around to enjoy the money.
    Everyone keep saying soon it coming soon!!!

  5. […] Iraq Plans to Spend $9bn on 4 Refineries […]

  6. Brad November 8, 2010 at 2:24 am #

    Wow! What a great thing to see! As an American I think it is awesome to see the Iraqi people take back their freedom and their country. I so hope to see Iraq do great things and it looks like your off to a good start.
    Best wishes.

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