Iraq Ministry of Oil - New Oil Refineries

Iraq Ministry of Oil said that it will launch an investment promotion campaign in order to establish and construct 4 new refineries in a number of Iraqi provinces by the end of the current month.

The Ministry said that these projects need a big amount of money that might reach more than 3 billion dollars.

Deputy Minister of Oil Ahmad Al Shammaa said that after finishing the design of the refineries the ministry will offer the refineries for foreign investment that would be either complete or in collaboration with the Ministry of oil or else the foreign company would construct the refinery and deliver it afterwards to the Ministry of Oil after an agreed upon period of time.

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