• 3 minutes Don't sneeze. Coronavirus is a threat to oil markets and global economies
  • 5 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 9 minutes This Battery Uses Up CO2 to Create Energy
  • 12 minutes Shale Oil Fiasco
  • 1 hour Historian Slams Greta. I Don't See Her in Beijing or Delhi.
  • 48 mins We're freezing! Isn't it great? The carbon tax must be working!
  • 2 days US (provocations and tech containment) and Chinese ( restraint and long game) strategies in hegemony conflict
  • 13 hours Let’s take a Historical walk around the Rig
  • 8 hours Beijing Must Face Reality That Taiwan is Independent
  • 23 hours Trump has changed into a World Leader
  • 23 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 56 mins Governments that wasted massive windfalls
  • 23 hours Yesterday POLEXIT started (Poles do not want to leave EU, but Poland made the decisive step towards becoming dictatorship, in breach of accession treaty)
  • 2 days Might be Time for NG Producers to Find New Career
  • 3 days Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 3 days Indonesia Stands Up to China. Will Japan Help?

Iraq to Construct Two New Refineries to Meet Domestic Need

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