You are hereHome SectorsIraq
Iraq signs agreement to build US$6.5 billion refinery in Karbala
Source: BI-ME , Author: Posted by BI-ME staff
Posted: Sun July 24, 2011 7:09 pm

IRAQ. The Ministry of Oil of Iraq has signed an Implementation agreement for the construction under BOO terms of the Refinery of Karbala with RKC (Refinery of Karbala Corporation Ltd.)

The new Refinery will have a daily capacity of 200,000 barrels of Crude Oil and will produce high quality, high octane gasoline (regular and premium) as well diesel fuel for the domestic market.

“Karbala Refinery will be located 100km south of Baghdad on a 6 square kilometer plot of land, and will be the most advanced state of the art refinery with almost full conversion rate and with an estimated cost of US$ 6.5 billion” said Dean Michael, CEO of Karbala Refinery Corporation.

The Italian Company Saipem will be providing the processing and the technical aspects of the project. Such a Refinery is due to become the most technically advanced Refinery in Iraq with the use of the latest available technologies that will ensure almost full conversion of Crude to final products in line with new Iraqi Laws in Refining and the Environment.

RKC has committed to commence production in 48 months from the final contract date. With the entrance in production of the Refinery of Karbala the Ministry of Oil will be able to largely supply the domestic market with better quality gasoline and diesel products.



date:Posted: November 28, 2015
UAE. Total passengers set to double to 7 billion by 2034; The UAE, Qatar and Saudi Arabia will all enjoy strong growth of 5.6%, 4.8%, and 4.6% respectively. The total regional market size will be 383 million passengers.
date:Posted: November 26, 2015
UAE. Legal experts say move will influence oil major investment plans in Iran ahead of the lifting of sanctions; Lawmakers likely to be mindful of "missed opportunities" in Iraq and Lebanon.
date:Posted: November 25, 2015
UAE. EMAAR, Shell, and Emirates lead The LinkedIn InDemand list of the most sought-after employers in the region based on millions of interactions from members; Rather than relying on questionnaires, InDemand measures the actual behaviour of professionals as they explore their career journey.
Monogram Ring