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A government move to transform the Karbala Refinery into a company
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Economy News - Baghdad
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Added 11/22/2023 - 12:03 PM
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Economy News - Baghdad
The Ministry of Oil confirmed today, Wednesday, that the Holy Karbala Refinery produces 70% of the country’s need for petroleum derivatives, while indicating the intention to transform the refinery into a company.
The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis Al-Zubaie, said, “The Holy Karbala Refinery has independence at a level lower than that of a company, meaning that it is not affiliated with any of the other refinery companies,” stressing “the Ministry of Oil’s intention to raise the Holy Karbala Refinery to the level of a company, after the completion of the project.” Its infrastructure of departments and logistics.
Al-Zobaie added, "The Ministry is currently working on forming the administrative, technical, financial, legal, contractual, and supervisory departments for the refinery."
He pointed out, "After the completion of the infrastructure of the Holy Karbala refinery, including departments and logistics, the Council of Ministers will be approached to approve the refinery as a company."
He stressed that "the refinery's current production level of oil derivatives covers about 70% of Iraq's need."
Views 36
Added 11/22/2023 - 12:03 PM
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