Iraq Relaunching Investment Plans to Build New Downstream Facilities

S&P Global, August 29, 2016

Iraq's new oil minister Jabbar al-Luaibi has re-opened the door for international oil companies to invest in a number of new downstream projects across the country, including several refineries and storage terminals. Iraq is offering either a build, own, operate or a build, operate, transfer contract model for new refineries, where the private sector constructs the facility, operates it, and eventually hands it over to the government. The ministry would also like to double Iraq's crude oil storage capacity to 24 million barrels over the next few years through international investment, according to oil ministry spokesman Assem Jihad.


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