Iraq offers investors shot at new refineries
Iraqi oil leaders are offering four new projects to foreign investors with the ambition of more than doubling the country's refinery production.
Iraqi Oil Minister Hussain al-Shahristani (center) led a delegation of oil officials in promoting four new refineries to foreign investors at an international oil conference in Baghdad. (STAFF/Iraq Oil Report)
BAGHDAD - Iraq's Oil Ministry is seeking foreign investors to undertake $23 billion worth of oil refinery construction that would more than double the country's refined product output.
At a weekend conference aimed at attracting new investors to Iraq's petroleum sector, Oil Minister Hussain al-Sharastani and other oil officials outlined a proposal for four prospective refineries to be located in Kirkuk, Nassiriya, Masyan and Karbala. In total, the facilities would produce 740,000 barrels per day (bpd) of refined products.
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