The Iraq Ministry of Oil has recently announced they will build a new refinery in eastern Maysan province which will be constructed within 30 days in order to increase oil production in the region.
Minister of Oil for Iraq, Jabar al-Luaibi said the refinery will produce 150,000 barrels of oil per day (bpd) and if the project is not completed in the allotted time frame, the contract will be completely cancelled “barring any financial or legal consequences,” according to Minister al-Luaibi.
After this announcement, the Minister of Oil also released a statement that contracts submitted by 26 international countries between August - November 2017 were pre-qualified to take part in bidding for “borderline onshore and offshore exploration blocks and fields.”
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