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Iraq and U.S. Firm Set on a Contract for Haditha Oil Refinery Development Project

North Refineries Company set to work with Honeywell UOP to develop the Haditha refinery.

According to a cabinet statement issued on Tuesday, Iraq's state-owned North Refineries Corporation, which owns and operates the Haditha refinery, has decided to work with Honeywell UOP, a multi-national American company, to complete the refinery's development project.

The refinery, which is one of the country's oldest, is located in the western province of Anbar.

The state news agency (INA) stated on Tuesday that the development of the Haditha refinery would help to enhance the country's overall oil production.

After recovering territories around the Haditha refinery from the Islamic State in 2018, Iraq has been aiming to completely expand it.

In Other News:

Iraq's oil revenue is on course to surpass the country's record of $8.8 billion set in April 2012 as it nears $8.27 billion in January if oil prices continue to rise.

According to an expert with the Century Foundation think tank, Sajad Jiyad, a tight oil market and generally constant Iraqi output might push the revenue to surpass $9 billion per month.

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