Iraq Allocates Refinery Design Contracts

Iraq has handed out contracts to international engineering companies to design four new refineries in the country as part of the government's goal to tackle fuel shortages by boosting domestic capacity. Despite holding the world's third largest oil reserves, at 115bn barrels (bbl), and producing more than 2.3mn barrels per day (b/d) of crude, problems with its existing refineries and power supplies mean that Iraq is currently suffering from severe refined products shortages, forcing the country to import substantial volumes of petroleum products from Iran, Jordan, Kuwait, Syria and Turkey.

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