Iraq Launches Bids for Seven Oil Refinery Projects

Iraq Launches Bids for Seven Oil Refinery Projects

Iraq has invited investors to build seven oil refineries in various parts of the country as part of a post-war drive to rebuild its oil and gas sector, Zawya Projects reported, citing the local press reports.

Bids for three refineries opened on Wednesday while offers for three other refineries will be submitted in April, they said, quoting Oil Minister Hayan Abdul Ghani. 

The bidding date for the seventh refinery will be set later, the Minister said, adding that the projects are intended to boost Iraq’s refining output capacity. 

“These investment opportunities constitute a shift in the government’s strategy towards encouraging foreign investment in oil refining and opening new horizons for international companies and the local private sector in this industry,” Abdul Ghani said. 

The first three projects comprise a 50,000-barrels-per-day refinery in the Southeastern Maysan Governorate, a 70,000-bpd refinery in Nineveh Governorate in North Iraq and a refining unit in the Southern Basra city with a capacity of 30,000 bpd. 

The other three projects for April include a 50,000-bpd refinery in the Southern Dhi Qar Governorate, a 100,000-bpd unit in Wasit in East Iraq and a refinery with a capacity of 70,000-bpd in Muthanna in South Iraq.

The seventh refinery has a capacity of 70,000 bpd and is located in the Western Alanbar Governorate.

Oil&Gas by Staff Writer, March 15, 2023