You are hereHome CountriesIraq
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: March 19, 2018
LONDON. Corporate board diversity will be key for companies' long-term success; EY announces global innovation garage to meet demand for disruptive technologies.
date:Posted: March 18, 2018
UAE. Internet of Things is rapidly expanding the attack surface of the digital enterprise and exposing it to risk levels not seen before.
date:Posted: March 18, 2018
UAE. Unprecedented disruption is steadily engulfing the regional banking and financial services space with the private sector, governments, and individuals realigning their operations in line with the day-to-day needs of the customer.
UAE. Senior figures from the financial services industry will share valuable industry insight and practical knowledge, on key topics including AML national risk assessment, Regtech and Fintech, art and financial crime and the future of Fintech.