Refining the future

BAGHDAD - The head of Iraq's third largest refinery said smuggling and other security issues still impact the oil sector but is convinced it's manageable, as he prepares a major upgrade and expansion to Baghdad's Daura refinery.

Tens of billions of dollars are needed to modernize the country's entire oil sector. Much of that is expected when the 10 oil contracts awarded to the world's largest oil companies begin development. But infrastructure such as storage units, pipelines and refineries are going to need as much attention as the fields.