Iraq ready for refinery pitches

Potential investors face a looming deadline to bid on four refinery deals, and Iraq Oil Report has obtained the specs and investment terms of the projects.
Iraq ready for refinery pitches
Hussein al-Shahristani (R), the former oil minister and current deputy prime minister for energy, looks on as Dathar Khashab (C), who was then director general of Midland Refineries, takes him on a tour of the new oil refinery which will produce 70,000 barrels per day at Daura in Baghdad on January 26, 2009. (ALI AL-SAADI/AFP/Getty Images)

Iraq is looking to enlist private companies to build four new refineries with the combined ability to process 740,000 barrels per day (bpd) of crude oil, which would help Iraq fulfill its dreams of becoming a net fuels exporter.In a letter to pre-qualified companies, Deputy Oil Minister Ahmed Shamma outlined the long-awaited terms for investment – contract models that companies will use to gauge whether Iraq's refinery sector is a sound deal. Dated Jan. 17, 2012, the letter gave a deadlin...

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