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Investment contract to establish a refinery in Faw Port
First 07/09/2024
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The Southern Refineries Company intends to sign an investment contract to establish a refinery in the port of Faw, while revealing that the project will achieve self-sufficiency in petroleum derivatives.
The company’s media manager, Munadil Khader Al-Ajoudi, told Al-Sabah: The company is in the process of contracting to establish an investment refinery in the port of Faw, indicating that it will produce 150,000 barrels per day in its first phase, in addition to producing the same quantity in its second phase and petrochemical industries.
He explained that each of these two stages will last for 4 years, in addition to the company’s catalytic cracking project, which will produce 55,000 barrels per day when it opens next year.
Al-Ajoudi pointed out that it is the first project in Iraq that relies on refining waste from the four units in the southern refineries to convert them into white derivatives that can be used in local markets, in addition to ensuring self-sufficiency in oil derivatives in the country after the opening phase.
He added that the company has completed many projects that would provide petroleum derivatives to local markets, the latest of which is the opening of the fourth refining unit, which produces 70 thousand barrels per day, in addition to operating the isomerization unit, which produces 11 thousand barrels per day of high-octane gasoline. These two projects could reduce Iraq's need for external imports, stressing the existence of investment projects under study and the completion of their designs in the Maysan and Dhi Qar refineries.
Edited by: Adhraa Juma
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