Iraq Seeks Investment in Three Refineries

A senior official in the Iraqi Ministry of Oil said on Wednesday that investors are being invited to contribute to the development of three large Iraqi oil refineries with an overall production capacity of 150,000 barrels per day (bpd), according to a report from Aknews.

Undersecretary for refinery affairs, Ahmed al-Shammaa, told AKnews that the necessary paperwork for the development of the Dhi’qar, Missan and Kirkuk refineries will be made available soon, upon completion of the ministry’s economic feasibility study.

“The Oil Ministry is seeking to increase Iraq’s oil-refining capacity because a significant increase in Iraq’s demand for petroleum products is anticipated with the development of the country’s industrial sector,” he said.

“The three projects will be completed according to the refineries investment law which would provide legal and economic protection for international investors”.

(Source: AKnews)

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