Iraq assigns $60m to set up oil refineries

(MENAFN) The Iraqi Oil Ministry signed contracts with state-owned and private Iraqi firms to build two oil refineries at the cost of $60 million in northern Iraq, Iraq Directory reported.

The project will be established to ease the load on other refineries and meet increasing demands on fuel among Iraqis in all provinces as the country is currently facing a major shortage in fuel, especially in transportation and heating.


The project, which will be built in Irbil and Sulaimaniya, is set to produce 10 thousand barrels per day.

It is worth noting that the north produces about a third of Iraq’s oil.

MENAFN