Iraqi Oil Ministry Plans to Provide Oil Derivatives

The Iraqi Oil Ministry has announced a plan to equip three refineries with modern equipment that would help in producing oil derivatives.

The Undersecretary of the Oil Ministry, Ahmed Shaiyaa, told AKnews that the ministry plans to rehabilitate three refineries: Baiji [Bayji] (pictured), Kirkuk, and Doraa [Doura].

“The ministry will contract with a number of global companies to purchase equipment and modern devices able to provide derivatives in a short time”.

“Iraqi oil ministry will call British, Korean, Turkish companies and several other concerned companies to equip the three refineries with new equipment. ”

The Oil Ministry said in September that crude oil inventories in the country has reached 505 billion barrels from the total of the discovered fields that are 66 oil fields, with total recoverable reserves of 143 billion barrels.

(Source: AKnews)

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