The Iraqi oil ministry signed an initial form of a memorandum of understanding with the KALAA Egyptian Company to build a refinery in Mosul with a power of 150 thousand barrel/ day.
Mr. Ahmed Al-Shamaa, the deputy minister of refining affairs shown that the memorandum of understanding provides the basics to build an investment refinery in MOSUL fed by crude oil from Najma & Kayara oil fields.
Mr. Shamaa added that one of the privileges granted to the investor according to the amended investment law is the possibility of opening gas stations affiliated with the Ministry's commitment to take advantage of oil products to be produced at the refinery. And assured that the agreement gave the company three years to put the studies and designs which will determine the possibility of the late construction according to the production peak of the two refineries. As well as Mr. Shamaa shown that the ministry took the decision of the refinery bulling because it is the best way to make use of the heavy oil of the two fields by producing the necessary oil products to meet the needs of the domestic consumption.
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