Saturday, 16 October 2021 09:51 GMT

Iraq inks preliminary deal to construct oil refinery in Nineveh

(MENAFN) On Thursday, Sep. 16 Iraq’s Ministry of Oil declared that it inked a preliminary deal with two energy firms, that is to say Sweden's SEAB and Turkey's Limak, to construct an oil refinery in the northern province of Nineveh.

The ministry stated in a report: "under the auspices of Iraqi Minister of Oil Ihsan Abdul-Jabbar Ismail, the ministry's North Oil Company signed an initial agreement with SEAB and Limak to build al-Qayyarah oil refinery in the south of the provincial capital Mosul with a capacity of 70,000 barrels per day."

The report stated that in the inking ceremonial, deputy minister for refining processes Hamed Younis noted that the ministry is eager to boost the refining industry by constructing developed oil refineries around the country and by adding developed units to the current refineries to raise and enhance the output.

The country’s economy depends a great deal on the export of crude oil, which adds over 90 percent of Iraq’s proceeds.

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