• 4 minutes Drone attacks cause fire at two Saudi Aramco facilities, blaze now under control
  • 7 minutes China Faces Economic Collapse
  • 13 minutes Oil Production Growth In U.S. Grinds To A Halt
  • 15 minutes Iran in the world market
  • 18 minutes Ethanol, the Perfect Home Remedy for A Saudi Oil Fever
  • 1 min USA Wants Iran War -- Shooty Shooty More
  • 2 hours USA : Attack came from 'Iranian soil'. Pompeo to release 'evidence'.
  • 1 hour Collateral Damage: Saudi Disruption Leaves Canada's Biggest Refinery Vulnerable
  • 8 hours Never Bring A Rapier To A Gun Fight
  • 11 hours Bahrain - U.S.: Signed Deal To Buy Patriot Missiles
  • 2 hours Yawn... Parliament Poised to Force Brexit Delay Until Jan. 31
  • 12 hours One of the fire satellite pictures showed what look like the fire hit outside the main oil complex. Like it hit storage or pipeline facility. Not big deal.
  • 11 hours Trump Will Win In 2020 And Beyond..?
  • 12 hours How OPEC and OECD play their role in setting oil price in light of Iranian oil sanction ?? Does the world agree with Iran's oil sanctions ???
  • 7 hours Aramco Production
  • 10 hours Democrats and Gun Views

Iraq to Construct Two New Refineries to Meet Domestic Need

Iraqi Oil Ministry, anxious to reduce the country's dependence on imported foreign oil refined products, intends to build two new refineries in the provinces of Karbala and Missan. The Karbala refinery will refine up to 140.000 barrels per day and the one in Missan up to 150,000 bpd.

On 3 October Iraq’s Oil Ministry reported that the country remains unable to produce enough oil and gas to meet indigenous demands. While Iraq produces 8 million liters of liquid gas per day, it consumes approximately 12 million liters. As regards oil, while Iraq produces 12 million liters of refined oil every day, another 12 million liters have to be imported from international markets to meet domestic demand.

Furthermore, while Iraq’s Oil Ministry has repeatedly announced plans to quintuple the country's oil production from 2009’s level of 2.5 million bpd to 12 million bpd within the next five years, there would still not be enough refineries to process the crude oil into usable fuel, AK News-Kurdistan News Agengy-Iraqi Independent News reported.

Before the March 2003 U.S.-led invasion to topple the regime of Iraqi President Saddam Hussein, Iraq's daily oil production was 2.6 million bpd.

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play