Friday, April 20, 2007
Petro-Gulf to assist in building $130 mn oil refinery
Oil, Business
(IRAQdirectory) - The Kuwaiti Gulf Company for Petroleum Investment (Petro-Gulf) said on Saturday that it intends to assist in building an oil refinery at an investment of $ 130 million in northern Iraq with two others partners. According to a statement published on the Kuwaiti bourse web site on the Internet, the Company said that it had signed a memorandum of understanding with the Turkish group Chokorova to build a refinery with the capacity of 20 thousand barrels a day within other oil projects.
The statement also mentioned that the other partner is the Company of Taqat which is a contributor in Petro-Gulf Company. The statement added that the refinery is expected to be ready for operation within a year and a half. Petro-Gulf Company, which works in the oil fields business such as drilling operations and engineering operations of the upstream and downstream activities, will own 10% in the refinery project.
Labels: Chokorova, northern Iraq, oil refinery, Petro-Gulf, Taqat
Thursday, March 15, 2007
$1 billion oil refinery to be built in Karbala
Reconstruction, Oil
(VOI) Iraqi oil ministry agreed to build a large oil refinery in Karbala, 110 km southwest of Baghdad, head of Karbala provincial council said on Tuesday. "The oil minister informed the provincial council during his visit to Karbala two days ago that the ministry agreed to build a large refinery in the province," Abdul-Al al-Yasseri told the independent news agency Voices of Iraq (VOI).
The official who did not set a date for commencing construction works in the project said "the oil ministry announced the project tender and is waiting for bids by international companies." He added, "the refinery designed capacity is 140,000 bpd." The new refinery will be set up on the highway linking Karbala to Najaf, 20 km south of Karbala while construction works are expected to continue for four years, al-Yasseri added. He said "the cost of building the refining facility is estimated at one billion U.S. dollars."
Labels: Karbala, Oil Ministry, oil refinery
