The Iraq exports about 1.8 million barrels/day (b/d) of 2.4 million b/d of crude oil, but suffers from a shortage of refined products. The refineries operating today has a total capacity of more than 700,000 b/d, but only use about 450,000 b/d. The demand of 570,000 b/d in 2008, tends to increase as economic activity is reborn.
The Iraqi Oil Ministry invited international companies to invest in expansion projects, modernization and reform of the capacity of existing refineries. In addition, there are plans to build five new refineries by the end of 2015 in order to increase the refinery capacity of 600,000 b/d to 1.5 million b/d and thus meet domestic and foreign demand.