Iraq seeks to raise its refining capacity to 1.5 million barrels per day by 2021

Iraq intends to double refining capacity by 2021 to eliminate its reliance on refined product imports. "The capacity of the processing will increase to 1.5 million barrels per day of more than 500 thousand barrels currently," noting that "the country spends more than two billion dollars annually in the import of gasoline and gas. "He added that" the planned factories include a second refinery in Basra with a capacity of 300 thousand barrels per day, while closed the tender on a project for a proposed refinery in Kirkuk with a capacity of 70 thousand barrels, and in Nasiriyah, two Chinese companies are talking about refinery facility A card of 150 thousand barrels. "In Karbala, financial delays have hindered a project to build a refinery with a capacity of 140 thousand barrels, where the government has contracted with Hyundai Engineering and Construction to build it, while the government is currently trying to get $ 2 billion to cover the shortfall in financing the project. Previous plans to expand refining faced setbacks and delays, even in stable areas. The government announced in 2012 that it was seeking to reach a refining capacity of 760,000 barrels But by the beginning of next year, this has not been achieved, especially with the lack of funds due to the decline in oil prices globally by the beginning of 2014. The country also aspires to obtain processing energy abroad, not only by increasing its fuel production, Iraqi crude. "The government is in talks with China and Oman to invest in refineries and warehouses and is planning similar discussions with Singapore and Indonesia," Naima said.