Sweeter deals for private refinery investments

Iraq has had no takers on crude price and other discounts offered in a 2007 law aimed to get private investors to build new refineries.
Sweeter deals for private refinery investments
The 30,000 bpd Dhi Qar refinery located just outside Nassiriya. (BEN LANDO/Iraq Oil Report)

Private investors in Iraq's refining sector will now get a 5 percent discount on a guaranteed supply of crude for 50 years, according to an amendment to a nearly three-year-old refineries investment law.The amendment must be approved by Parliament, which will not be formed until after the much-contested results of the March 7 elections are finalized.Though the law was approved in 2007, no companies have taken up the government's offer of reduced-tax or tax-free land.The Council of Mi...

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