June 23, 2010Iraq invites oil companies to the Conference on June 26 to discuss the contracts for refineries
Baghdad, Assem Jihad, spokesman for the Iraqi Oil Ministry said Wednesday that Iraq will host a meeting of executives of international oil companies in Baghdad on Saturday to discuss the contracts for four refinery planned which will raise production capacity by about 750 thousand barrels per day.
The spokesman said "There are many international companies have expressed interest in participating and to reach agreement with the Oil Ministry," adding that the conference is the first step by inviting companies to submit bids in a tender for the establishment of refineries.
Jihad said that Iraq is trying to establish a refinery in Nasiriyah in southern Iraq with a capacity of 300 thousand barrels per day refinery in the oil-rich city of Kirkuk in the north of the country's capacity of 150 thousand barrels per day.
It is planned to establish another refinery in the southern Maysan capacity of 150 thousand barrels per day and the fourth in Karbala, 140-thousand barrels per day.
Earlier this month, the company said Foster Wheeler's engineering and construction it had won a contract to prepare a feasibility study and engineering design of an oil refinery Nasiriyah.
The Iraqi Oil Minister Hussain al-Shahristani told Reuters May that Iraq plans to raise refining capacity to 1.5 million barrels per day in the coming five years through the establishment of the four refineries and the development of existing refineries.
Will be completed engineering designs for the four refineries this year.
Iraq has eight refineries with a capacity of production 659 thousand barrels per day.
According to the site on the Internet OPEC Iraq produces about 453 thousand barrels per day of refined products and consumes 589 thousand barrels per day, although al-Shahristani said last year that Iraq has achieved self-sufficiency in refined products.
Was hit by years of war and sanctions and lack of investment to Iraq's ability to produce enough fuel such as gasoline and diesel to meet growing domestic needs, forcing it to import fuel to fill the gap.
Iraq has said it plans to raise refining capacity in the framework of a plan will cost 50 billion dollars to develop the energy sector hungry for investment.
In 2007, Parliament passed a law allowing foreign companies to establish and operate domestic refineries.
Baghdad has concluded a series of deals with international oil companies seeking to raise its crude production capacity from 2.5 million to 12 million barrels per day within six to seven years.
Baghdad, Assem Jihad, spokesman for the Iraqi Oil Ministry said Wednesday that Iraq will host a meeting of executives of international oil companies in Baghdad on Saturday to discuss the contracts for four refinery planned which will raise production capacity by about 750 thousand barrels per day.
The spokesman said "There are many international companies have expressed interest in participating and to reach agreement with the Oil Ministry," adding that the conference is the first step by inviting companies to submit bids in a tender for the establishment of refineries.
Jihad said that Iraq is trying to establish a refinery in Nasiriyah in southern Iraq with a capacity of 300 thousand barrels per day refinery in the oil-rich city of Kirkuk in the north of the country's capacity of 150 thousand barrels per day.
It is planned to establish another refinery in the southern Maysan capacity of 150 thousand barrels per day and the fourth in Karbala, 140-thousand barrels per day.
Earlier this month, the company said Foster Wheeler's engineering and construction it had won a contract to prepare a feasibility study and engineering design of an oil refinery Nasiriyah.
The Iraqi Oil Minister Hussain al-Shahristani told Reuters May that Iraq plans to raise refining capacity to 1.5 million barrels per day in the coming five years through the establishment of the four refineries and the development of existing refineries.
Will be completed engineering designs for the four refineries this year.
Iraq has eight refineries with a capacity of production 659 thousand barrels per day.
According to the site on the Internet OPEC Iraq produces about 453 thousand barrels per day of refined products and consumes 589 thousand barrels per day, although al-Shahristani said last year that Iraq has achieved self-sufficiency in refined products.
Was hit by years of war and sanctions and lack of investment to Iraq's ability to produce enough fuel such as gasoline and diesel to meet growing domestic needs, forcing it to import fuel to fill the gap.
Iraq has said it plans to raise refining capacity in the framework of a plan will cost 50 billion dollars to develop the energy sector hungry for investment.
In 2007, Parliament passed a law allowing foreign companies to establish and operate domestic refineries.
Baghdad has concluded a series of deals with international oil companies seeking to raise its crude production capacity from 2.5 million to 12 million barrels per day within six to seven years.
AP
