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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