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 Iraq appeals for help to build oil refineries 6/26/2010 - 1:36:21 PM  Iraq is seeking investors to help build four oil refineries at an estimated cost of US$23bn (€18.6bn), the oil minister said today. Hussain al-Shahristani said the total processing capacity of the planned refineries will be 740,000 barrels per day, although the specifics are still being studied. The minister told a gathering of local and international executives that investors who build and run the refineries will have the right to buy the crude at a 5% discount. The four refineries would significantly increase Iraq’s capacity after years of war and sanctions. Iraq’s 11 current refineries process about 550,000 barrels a day. |
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