OPEC oil producer Iraq has completed the expansion of the Southern Basra refinery with the operation of a new production unit with a capacity of 1.3 million litres per day, according to the Oil Ministry.

Another expansion project listed the production of key refineries in Central Iraq by 750,000 litres per day, the Ministry’s Undersecretary Hamid Younus said.

He said in a statement published by Alforat News agency on Monday that the projects are part of a long-term plan to boost refining output to phase out imports of refined products and export the surplus.

Iraqi Prime Minister Mohammed Al-Sudani said last week Iraq has devised a strategy to convert 40 percent of its crude oil exports into petrochemicals and refined products.

(Writing by Nadim Kawach; Editing by Anoop Menon)

(anoop.menon@lseg.com) 

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