Iraq Seeks to Triple Refining Capacity With Slew of Projects
- Oil exporter targets 1.5 million barrels a day of capacity
- Past and current projects subject to delays amid cash crunch
This article is for subscribers only.
Iraq, the world’s third-biggest crude exporter, plans to triple refining capacity by 2021 to shake off its reliance on refined-product imports.
Processing capacity will increase to 1.5 million barrels a day from just over 500,000 now, not including Iraq’s semi-autonomous Kurdish region, Deputy Oil Minister Fayyad Al-Nima said in an interview in Baghdad. The country spends more than $2 billion a year importing gasoline and gasoil, he said.