Iraq’s Ministry of Oil has signed an investment contract with Rania International Co. for the establishment of the Kirkuk refinery, which will have a capacity of 70 000 bpd.
Oil Minister Jabbar Ali al-Allaibi stated that the contract comes in conjunction with the efforts of the Ministry to upgrade the oil industry in the province of Kirkuk, which includes the implementation of a number of development projects and rehabilitation of oilfields, facilities and infrastructure, as well as the extension of oil pipeline networks.
The Ministry Adviser, Zia Jaafar, said that new investment in the liquidation sector will increase the rates of national production of oil derivatives through projects and strategic plans for the establishment of a number of refineries in the provinces of Nineveh, Anbar, Dhi Qar and other refineries.
The Kirkuk refinery will provide oil derivatives with high quality specifications, such as high octane gasoline and other derivatives.
The Director of Rania, Jalal Haj Ahmed, said that the company will work on the construction of the refinery according to international standards and will abide by the dates to run the refinery.
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