More Details on New Basra Refinery Project

By John Lee.

The Ministry of Oil has given more information on the new investment opportunity to build a new 300,000-bpd refinery in Basra's Faw (Fao).

The refinery is capable of being extended by adding new units for the petrochemicals industries. The execution is according to the methods of BOT or BOO according to the investment law of the refineries No.64 for 2007 and its amendments.

  • The products of the refinery must be environment friendly according to the international standards EURO-5.
  • The tax breaks must be according to the investment law No.13 for 2006.
  • According to the second amendment of the investment law No.64 for 2007. The discount on the crude oil price in the shipping port over the ship (FOB) subtract (8%) from the global price of the crude oil "the subtraction must be more than 5$ and less than 10$".

The studies, planning and follow-up directorate in the ministry of oil will prepare the information bag of the refinery and the price of the bag will be (30) thousand dollars "nonrefundable".

The information bag will include the following chapters:

  • The source and features of the crude oil.
  • The source and features of the water which will be supplied to the refineries.
  • The type of soil and the climate of the zone.
  • The environmental specifications.
  • The coordinates & dimensions of the refinery land … Etc.

The receipt of the bag and the presentation by the companies whom would like to invest in the mentioned refinery must be to the   studies, planning and follow-up directorate via the E-Mails ([email protected]) & ([email protected]).

(Source: Iraqi Ministry of Oil)

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