Iraq to Boost Oil-Refining Capacity by 23%

Iraq’s oil refining capacity will increase by 23 percent to 760,000 barrels a day by early next year, according to Deputy Oil Minister Ahmad al-Shamaa.

In an interview with Bloomberg, the Deputy Minister said that the refinery expansions, particularly of the Daura (Doura) facility in Baghdad (pictured), and the Basra plant in the south, will add 140,000 barrels a day to existing capacity.

Additionally, the country plans to build four refineries at a cost of about $25 billion, including a 300,000 bpd plant in Nasiriyah and a 140,000 bpd plant in Karbala.

The Iraqi government plans to pay for the Karbala refinery from its own budget and is preparing to seek bids for the construction of the Nasiriyah plant as part of the contract to develop the local oilfield.

(Source: Bloomberg)

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