New Investment Opportunities in Iraqi Oil Refining

By John Lee.

Iraq's Minister of Oil, Hayan Abdul-Ghani, has announced several investment opportunities in the oil refining sector:

• Maysan Refinery [Missan Refinery], with capacity of 150,000 barrels per day (bpd);
• Qayyarah Refinery in Nineveh governorate, with a capacity of 70,000 bpd;
• A black oil hydrogenation project in Basra Governorate, with a capacity of 30,000 bpd;
• Nasiriyah Refinery in Dhi Qar Governorate, with a capacity 150,000 bpd;
• Al-Kut Refinery in Wasit Governorate, with a capacity of 100,000 bpd;
• Samawah refinery in Al-Muthanna Governorate, with a capacity of 70,000 bpd.

Information kits for these opportunities will be available from 2nd April.

A further opportunity to invest in Haditha Refinery in Anbar Governorate, with a capacity of 70,000 bpd will be announced at a later date.

According to a statement from the Ministry, the aim of these opportunities is to increase national refining capacity, cover local needs for oil products, and eventually export surplus to foreign markets.

It says this move represents a shift in the government's strategy towards encouraging foreign investments in the refining sector, and opening new horizons for international and local private sector companies.

The Chairman of the National Investment Commission (NIC) expressed his hope that these investment opportunities will contribute to supporting the national economy and sustainable development.

(Source: Minister of Oil)

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