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Agreement Signed for Al-Faw Refinery Project

By John Lee.

The preliminary principles agreement for the Al-Faw investment refinery project has been signed in Baghdad.

The refinery will have a capacity of 300,000 barrels per day, while the petrochemical complex will be able to produce 3 million tons [per annum?].

The Minister of Oil, Ihsan Abdul-Jabbar Ismail, said that this project will enhance the role of Iraq in manufacturing and petrochemical industries and contribute to sustainable development, adding that this contract is valued at 7-8 billion dollars.

The contract was signed by the Director General of South Refineries Company (SRC) Hussam Hussein Wali,  on behalf of the Ministry of Oil, and Yu Fang Chunk, General Manager of Hualu, on behalf of the Chinese side.

Hualu Engineering & Technology is majority controlled by China National Chemical Engineering Company (CNCEC), and describes itself as “an international engineering company proficient in providing project services such as investment and financing, consulting, technology research and development, engineering design, procurement, construction management, commissioning supervision, and plant operation and maintenance.”

(Sources: Ministry of Oil, Hualu)

The post Agreement Signed for Al-Faw Refinery Project first appeared on Iraq Business News.

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Iraq Pushes Faw Refinery Project

By John Lee.

The Iraqi Ministry of Oil has invited international companies to participate in the competition to implement the Faw Refinery Project in Basra.

The project will be offered on a BOO (Build, Own, Operate) or BOOT (Build, Own, Operate, Transfer) basis.

Oil Minister Ihsan Abdul Jabbar Ismail said the refinery will be environmentally friendly and in conformity with international standards (EURO 5), adding that a petrochemical complex will be added to the project in the future.

(Source: Ministry of Oil)

The post Iraq Pushes Faw Refinery Project first appeared on Iraq Business News.

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Iraq to Build 5 New Refineries

By John Lee.

The Iraqi Ministry of Oil has reportedly announced that it will select a number of international investment companies to build five new refineries around the country:

  1. Kirkuk with a capacity of 70,000 barrels per day (bpd);
  2. Wasit capacity of 140,000 bpd;
  3. Nasiriyah capacity of 140,000 bpd;
  4. Basra card 140,000 bpd; and
  5. al-Faw capacity of 300,000 bpd.

According to Asharq Al-Awsat, the Ministry is financing Karbala refinery which is about 78 percent completed, and once it is fully constructed, it will provide about 9 million liters per day of high-quality gasoline, in addition to various oil derivatives in accordance with international standards.

(Source: Asharq Al-Awsat)

(Pictured: Baiji Oil Refinery)

Posted on

Iraq to Build 5 New Refineries

By John Lee.

The Iraqi Ministry of Oil has reportedly announced that it will select a number of international investment companies to build five new refineries around the country:

  1. Kirkuk with a capacity of 70,000 barrels per day (bpd);
  2. Wasit capacity of 140,000 bpd;
  3. Nasiriyah capacity of 140,000 bpd;
  4. Basra card 140,000 bpd; and
  5. al-Faw capacity of 300,000 bpd.

According to Asharq Al-Awsat, the Ministry is financing Karbala refinery which is about 78 percent completed, and once it is fully constructed, it will provide about 9 million liters per day of high-quality gasoline, in addition to various oil derivatives in accordance with international standards.

(Source: Asharq Al-Awsat)

(Pictured: Baiji Oil Refinery)