Oil Ministry Signs A Contract With A Japanese Company To Build A Refinery In Basra

The Ministry of Oil announced the signing of a contract with the Japanese company (GGC) to build an oil refinery with a capacity of 55 thousand barrels per day in Basra, in the south of the country.

The ministry said in a statement that the National Iraqi News Agency (NINA) received a copy of it: The refinery will produce fuels that include liquefied petroleum gas, gasoline and gas oil, estimating the cost of the facility at four billion dollars.

The statement quoted Oil Minister Ihsan Abdul-Jabbar Ismail his asserting that the project is one of the largest and promising projects in the refining industry in Iraq with an estimated capacity of 55 thousand barrels per day, and will provide 7 thousand jobs that are directly operated in the project, in addition to 70 thousand other job opportunities during a period the stages of project implementation.

He added that the project includes the establishment of a laboratory with advanced technologies, a mini-refinery that includes 7 production units to convert the wastes of refinery production from black oil into white products (liquid gas, gasoline with a number of octanes 92.2, and Caroline with an octavein 95 number, fuel oil, gas oil in hydrogenation units) with European specifications environmentally friendly.

He pointed out that the project comes within the directions of the government to promote economic development through the optimal investment of productive capacities to achieve the highest economic return from petroleum products and reduce import.