Refineries

15/12/2015

Market context

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 oportunity

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.

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News

Brazil exports to Iraq up 25% in first semester
21/08/2019 - Logística Brasil - https://logisticabrasil.com/exportacoes-do-brasil-ao-iraque-crescem-25-no-primeiro-semestre/

Rumaila hits 30-yr High in Oil Production
22/05/2019 - Rumaila Operating Organisation

President voices Support for Private Sector
22/05/2019 - Iraq Business News

UK announces $43m Iraq Aid Package
06/02/2019 - Government of the United Kingdom

Wheat Production to rise sharply
04/02/2019 - Reuters

US$1bn UK Financing for Iraqi Electricity
04/02/2019 - Government of the United Kingdom