Iraq hopes to build a new 140,000bpd oil refinery in Kerbala, with construction expected to begin this year, the country’s Deputy Prime Minister Hussain Al-Shahristani has said.
The refinery is the first of four refineries planned by Iraq, which plans to add 750,000bpd of refining capacity costing $20bn.
Shahristani told reporters in the area that Iraq is currently completing negotiations with European investors for the refinery, and operations expected to begin in the next four years.
The additional refining capacity would enable Iraq to become a key exporter of refined oil products with an existing capacity of 550,000bpd.
The remaining three new refineries proposed by Iraq will be located at Nassiriya, Kirkuk and Maysan, reports Reuters.
