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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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    Oil Minister: Iraq is going to stop waste in the import bill

    Rocky
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     Oil Minister: Iraq is going to stop waste in the import bill Empty Oil Minister: Iraq is going to stop waste in the import bill

    Post by Rocky Sun 25 Feb 2018, 3:02 am

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    2018/02/25 11:48


    (Encyclopedia of this day , news | [You must be registered and logged in to see this link.] ) -
    Economy News _ Baghdad


    The Ministry of Oil signed a memorandum of cooperation with the Kuwaiti company «Arfaj» to implement joint investment projects in the liquidation sector.

    Oil Minister Jabbar Ali al-Allaibi said in a statement received by "Economy News" that "a priority of the Ministry of the optimal investment of associated gas, and the implementation of liquidation and petrochemical projects and the development of infrastructure for the distribution of oil derivatives."

    "We are keen to implement investment projects to establish refineries inside Iraq to increase production capacity of oil derivatives, and to meet the actual need for domestic consumption, and the ministry has an ambition and directions to establish refineries outside the country in cooperation with specialized international companies.

    He pointed out that «the ministry and through the investment projects put forward by international companies, aspiring to reach high rates of production of oil products, up to two million barrels per day in 2022».

    The statement said that the Ministry of Oil represented by the Undersecretary of the Ministry of liquidation Fayadh Hassan Nima, «Minutes of a meeting with« Arfaj »included the formation of a coordinating committee between the parties to exchange information on the implementation of projects in the region and the world, and the record of the desire of the company to invest in the gas project accompanying and production Methanol, as well as the company's invitation to the Ministry of Oil to contribute to the investment in the project to establish an oil refinery in India with a petrochemical complex ». 

    "The ministry has expressed its readiness to enter into investment projects in cooperation with Kuwaiti companies, to enhance cooperation and relations between the two countries, and open up broad areas of investment," said Nima.


    During the recent donors' conference in Kuwait, the Iraqi Investment Authority presented three oil refining projects with a capacity of 600,000 barrels per day, the largest in Basra province with a capacity of 300,000 barrels, two in Dhi Qar and Anbar with 150,000 barrels each.

    Iraq has two large refineries, the Dora, with a capacity of 210,000 barrels per day and Basra with a capacity of 140,000 barrels per day, producing 200,000 bpd and 250,000 bpd respectively, as well as 11 smaller refineries in the country.









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