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The Minister of Oil announces 7 investment opportunities in the refining and refining industries sector[You must be registered and logged in to see this link.]
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Baghdad today - Baghdad
Today, Wednesday, Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani announced seven investment opportunities in the refining and refining industries sector, stressing the ministry's keenness to increase national production from refining capacities and cover the local need for oil products, and then shift to exporting the surplus to foreign markets. .
Abdul-Ghani said, during the event of announcing investment opportunities for projects in the refining and refining industries sector in Iraq, that "announcing investment opportunities comes in line with the directives of Prime Minister Muhammad Shia' al-Sudani and what was included in the government program and the ministry's plans aimed at increasing national production from refining capacities and covering the local need for petroleum products.
Abdel-Ghani pointed out, "The announcement of investment opportunities represents a shift in the government and ministry's strategy towards encouraging foreign investments in the crude oil refining and refining sector, and opening new horizons for international companies and local private sector companies specialized in this field."
He added, "The Ministry of Oil, in cooperation with the National Investment Commission, has prepared a promising program to announce a group of investment opportunities in the refining industries sector. We announce seven investment opportunities, three of which are open for submission as of today, March 15, 2023, and the same three others will be submitted for." Early next April 2, while we will announce another investment opportunity at a later time.
And the minister continued, "The investment opportunities announced by the Ministry of Oil today in cooperation with the National Investment Commission, and the submission of these investment opportunities, as of today, March 15, 2023, are:
1- The Maysan Investment Refinery Project in Maysan Governorate, with a capacity of one hundred and fifty thousand barrels per day.
2- The Qayyarah investment refinery project in Nineveh governorate, with a capacity of seventy thousand barrels per day.
3- The black oil hydrogenation project in Basra Governorate, with a capacity of thirty thousand barrels per day.
The other three investment opportunities are:
1- The Nasiriyah Refinery Investment Project in Dhi Qar Governorate, with a capacity of one hundred and fifty thousand barrels per day.
2- The Al-Kut Refinery Investment Project in Wasit Governorate, with a capacity of 100,000 barrels per day.
3- The Samawah investment refinery project in Al-Muthanna Governorate, with a capacity of seventy thousand barrels per day.
Submissions to purchase information kits for these opportunities will be opened as of April 2, 2023.
The minister said, "The Haditha investment refinery in Anbar Governorate has a capacity of seventy thousand barrels per day. The date for submission will be determined at a later date, in addition to the existence of other investment opportunities, which will be announced at a later time as well."
For his part, the Chairman of the National Investment Commission, Haider Muhammad Makiya, expressed his hope that "these investment opportunities will achieve their goals, and that the Commission provides full support to the investing parties in cooperation with the Ministry of Oil," explaining that "investment in the refining industries sector contributes to supporting the national economy and sustainable development." And it is an important step by the government and the ministry to advance these vital sectors.”
For his part, the Undersecretary of the Ministry for Liquidation Affairs, Hamid Yunis, indicated that "announcing investment opportunities contributes to increasing Iraq's refining capacity, improving the specifications of oil products, and achieving the goals and plans of the ministry in covering the local need and shifting towards export," pointing to "the importance of announcing these opportunities in Advancing the reality of the oil industry, and its great effects on the economic and development reality.
In the context, a spokesman for the Ministry of Oil, Assem Jihad, said, "The nomination of these investment opportunities came based on a realistic study by the concerned authorities in the ministry, due to the actual and urgent need of the concerned governorates, and also to achieve the ministry's goals in increasing national production of refining capacities and improving their quality in accordance with The approved international specifications, and the adoption of environmental and health standards,” noting that “this package of important projects in the refining industries sector represents a promising step to achieve the goals of sustainable development, by advancing the economic reality of the governorates, working to increase their financial revenues, and providing job opportunities for their people and sectors.” other service.”
He pointed out that "the ministry's call for international and local investment companies who find in themselves the ability and competence to quickly submit their papers to the ministry, and in accordance with the conditions and instructions of this round of investment opportunities in the refining and refining industries sector, pledging to provide all kinds of support and attribution to the investing parties in order to achieve Common goals.
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