Iraq is seeking to increase its refining capacity to 1.5 million barrels per day by 2021

by **RamblerNash** Tue Jun 13, 2017 1:39 am

Iraq is seeking to increase its refining capacity to 1.5 million barrels per day by 2021

Monday, June 12, 2017 11:51

Alsumaria News / Baghdad
planned to Iraq , the third - largest crude oil exporter in the world, double refining capacity by 2021 in order to get rid of dependence on imports of refined products.

According to the agency Bloomberg US , quoting Deputy Oil Minister Fayyad 's grace, that " the processing capability will increase to 1.5 million barrels per day from more than 500 thousand barrels currently , " noting that " the country is spending more than two billion dollars a year to import gasoline and gas."

He added blessing, that " the planned factory created include a second refinery in Basra , 300 thousand barrels per day, while the tender closed on a project for a refinery proposed in Kirkuk 70 thousand barrels, and in Nasiriyah conducted two companies Chinas talks about the refinery facility of 150 thousand barrels."

In Karbala, financial delays have hampered a project to build a refinery of 140 thousand barrels per day, where the government has contracted with Hyundai Engineering and Construction to build, while the government is currently trying to get two billion dollars to cover the shortfall in funding for the project.

It faced previous plans to expand refining setbacks and delays, even in the security of stable areas, where the government announced in 2012 its quest to reach the refining capacity of 760 thousand barrels per day by the beginning of next year, but this has not been achieved, especially with the lack of funds due to lower oil prices globally with the beginning of 2014.

as the country looks forward to getting energy processing abroad, not only by increasing the production of fuel, but open Iraqi crude oil markets.

He said grace, " The government is in talks with China and Oman to invest in refineries and warehouses and is planning to conduct similar discussions with Singapore and Indonesia."

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