Arab Today, arab today iraq inks 65 billion refinery deal
Last Updated : GMT 16:24:37
Arab Today, arab today
Arab Today, arab today

Iraq inks $6.5 billion refinery deal

Arab Today, arab today

Arab Today, arab today Iraq inks $6.5 billion refinery deal

Dubai - Arabstoday

Iraq\'s oil ministry has signed an agreement with the Refinery of Karbala Corporation Ltd, which will build a refinery in central Iraq\'s Karbala region that could potentially cost $6.5 billion (Dh24 billion) when completed in four years. The refinery will have a capacity of 200,000 barrels per day (bpd) of crude oil and will produce octane gasoline both regular and premium as well as diesel fuel for the domestic market, a statement said. Italian engineering firm Saipem will take care of the processing and technical aspects of the project. \"Karbala Refinery will be located 100km south of Baghdad on a six-square-kilometre plot of land, and will be the most advanced state-of-the-art refinery with almost [a] full conversion rate and with an estimated cost of $6.5 billion,\" Dean Michael, chief executive officer of Karbala Refinery Corporation, said. The project is part of Iraq\'s plans to build four new refineries to add around 750,000 bpd of refining capacity at an estimated cost of more than $20 billion. The other three new refining facilities in the national refinery expansion plan will be located in Nassiriya, Maysan and Kirkuk. Iraq is also upgrading its existing 140,000 bpd Basra refinery. \"Such a refinery is due to become the most technically advanced refinery in Iraq with the use of the latest available technologies that will ensure almost full conversion of crude to final products in line with new Iraqi laws [as regards] refining and the environment,\" a statement said. According to the Organisation of Petroleum Exporting Countries (Opec), Iraq produces about 453,000 bpd of refined products and uses 589,000 bpd. Kate Dourian, editor of Platts Middle East, said, \"Iraq has been planning to build a refinery in Karbala since the 1980s. The project is part of the government\'s plans to raise its refining capacity by 750,000 bpd, up from the existing 660,000 bpd. As Iraqi economy picks up... the country will need new refining capacity to meet the growing demand and it comes right in time.\" From / Gulf News

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iraq inks 65 billion refinery deal Arab Today, arab today iraq inks 65 billion refinery deal

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today iraq inks 65 billion refinery deal Arab Today, arab today iraq inks 65 billion refinery deal

 



Arab Today, arab today Etiquette expert calls for short visits

GMT 16:21 2017 Monday ,26 June

Etiquette expert calls for short visits
Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Mai Al-Jeddawi presents décor ideas for Ramadan

GMT 06:08 2017 Sunday ,18 June

Lower oil prices set to test US shale driller

GMT 05:10 2017 Wednesday ,14 June

Oil prices edge down

GMT 05:22 2017 Tuesday ,13 June

Oil rises as investors buy into US crude

GMT 15:11 2017 Saturday ,10 June

Oil prices steady despite supply glut

GMT 14:28 2017 Sunday ,04 June

Kuwait oil price down 52 cents to USD47.83 pb
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today

GMT 09:49 2017 Tuesday ,02 May

Girl barred from Malaysia chess competition

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse

GMT 16:25 2017 Sunday ,04 June

“Suhoor” is basic meal for fasting

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 11:09 2017 Sunday ,25 June

HUAWEI P10 the ‘guru’ of portrait shots
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday