Iraq seeks investments in the refining sector

Baghdad (IraqiNews.com) – The Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani, reaffirmed the Oil Ministry’s desire to increase national production from refining capacities and meet local demand for oil products before shifting to exporting the excess to foreign markets and gradually transforming Iraq from an oil product importer to a source.

Thus, the Ministry intends to offer seven investment opportunities in Iraq’s refining industries sector in partnership with Iraq’s National Investment Commission (NIC).

According to Abdul-Ghani, the announcement of investment opportunities marks a change in the government’s and the Ministry’s strategy toward enticing foreign investment in the crude oil refining and refining sector and opening up new vistas for both foreign businesses and local private sector firms with expertise in this area.

Iraq’s Ministry of Oil and the National Investment Commission have announced the following investment opportunities:

1. Maysan investment refinery project in Maysan Governorate – capacity of 150,000 barrels per day.
2. Qayyarah investment refinery project in Nineveh Governorate – daily capacity of 70,000 barrels.
3. Basra Governorate’s oil hydrogenation plant – capacity of 30,000 barrels per day.
4. Nasiriyah refinery investment project in Dhi Qar Governorate – capacity of 150,000 barrels per day.
5. Wasit Governorate’s Al-Kut refinery investment project – capacity of 100,000 barrels per day.
6. Samawah investment refinery project in Al-Muthanna Governorate – capacity of 70,000 barrels.
7. Haditha investment refinery in Anbar Governorate – capacity of 70,000 barrels per day.