OPEC member Iraq has officially awarded a project to develop a 100,000-barrels per day refinery in the Southern oil-rich Dhi Qar Governorate to a consortium dominated by Chinese companies, the country’s oil minister was quoted on Sunday as saying.
Ihsan Abdul Jabbar said the contract would be officially signed with the consortium in July after it was initialised last month.
“The refinery has a production capacity of 100,000 bpd and is intended to meet the country’s growing needs of refined products,” he said in a statement carried by Aliqtisad News and other Iraqi publications.
The consortium consists of Chinese state-owned manufacturer Norinco (which owns ZhenHua Oil), PowerChina (Power Construction Corporation of China), CNEC (China Nuclear Engineering & Construction) and a UAE Company.
The refinery contains units for hydrogenation, benzene improvement, isomerisation, catalytic cracking (FCC), a (CCR) unit, an asphalt unit, and an electric power production unit.
(Writing by Nadim Kawach; Editing by Anoop Menon)
Disclaimer: This article is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Read our full disclaimer policy here.© ZAWYA 2021