Iraq MoO Intends to Launch 4 New Oil Refineries for Investments

Iraqi Ministry of Oil announced launching four investment opportunities for crude oil refineries across Iraq for international investors.

 In a press statement in Basra province during a visit to the Iraqi drilling company, the new Iraqi minister of oil Jabbar Allibi said, "Iraq reached a production capacity of 5million barrels/ per, including the production of Kurdistan region, with plans of development in the oil sector to increase production".

With some hints that the contracts with international investors could be reviewed.

He indicated, "The National Permits Rounds process granting international oil companies the right of oil investments was flawed, and affected Iraq in many ways".

Continuing regarding this matter, "the ministry of oil is aiming to close these contracting loopholes in the licensing rounds through discussions with the IOCs".

The minister stated, "That the ministry is aiming to increase the participation of the private sector in building new oil refineries".

Asim Jihad, the official spokesman of the ministry of oil said in a separate statement "that the Iraqi ministry of oil called technically and financially qualified companies to present their BOT or BOO investment offers for four new oil refineries":

  1. Kirkuk Refinery, in Kirkuk province with capacity production of 150,000 barrels per day.
  2. Kut Refinery, in Wasit province with capacity production of 100,000 barrels per day.
  3. Samawa Refinery, in Muthanna province with capacity production of 70,000 barrels per day.
  4. Basra Refinery, in Basra province with capacity production of 100,000 barrels per day.

Indicating, "That these investments would be within the ministry plans of encouraging investments and reaching self-sufficiency".

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