Iraq’s oil ministry said it will build an oil refinery in the port town Faw, south of Basra with two Chinese firms.
The refinery will have a capacity of 300,000 barrels per day, include a petrochemical plant, and be built near the export port in Faw, Iraq’s Ministry of Oil said in a statement.
It is also seeking out investors to build three other refineries. Two refineries with capacity of 150,000 bpd and 100,000 bpd are planned for Anbar and Al Qayyarah. The third, with a 150,000-bpd capacity, is planned in Nasiriyah, Dhi Qar.
The refinery is part of the ministry’s plans to achieve self-sufficiency for refined products as well as boost petrochemical exports as it looks to support government revenues.