Egypt to refine Iraqi Crude Oil

Baghdad (IraqiNews.com) Egypt presented an offer to refine the Iraqi Crude Oil with production capacity of four million barrels yearly.The Egyptian Minister of Petroleum and Mineral Resources, Osama Kamal, reported in press statement ”We will discuss our offer with the Iraqi officials in the Ministry of Oil during our visit to Iraq in order to refine the Iraqi Crude Oil in the refineries of Egypt to take advantage of the available abilities of Egypt.””Egypt has surplus refining capacity ranged between (5-6) million barrels and it is capable to develop the refineries as well as its refining capacity,” noting that “We are discussing the issue of refining four million barrels of Crude Oil as a principal which is not too much in comparison with the production capacity of Iraq,” the statement added. \