The Kirkuk hydrogenation and gasoline improvement project’s move from a Build-Own-Operate (BOO) model to a Build-Operate-Transfer (BOOT) model has been approved by the Iraqi Council of Ministers. With a capacity of 12,000 barrels per day, the project will be able to produce gasoline.
The Ministry of Oil previously established a $23 refining fee for a single barrel of oil.
This change is part of Iraq’s efforts to improve its refining capacity and optimize the management of important energy infrastructure projects, according to a statement from the Prime Minister’s Office.
The completion of scheduled maintenance at the Karbala Refinery has resulted in the resumption of operations, according to a separate announcement made by the Iraqi Ministry of Oil. Hamid Younis, Deputy Oil Minister for Refining Affairs, confirmed that in order to reach maximum production levels, production of refined oil derivatives will begin within days.
It is anticipated that the refinery will produce as much as:
3,800 cubic meters of super- and improved-grade gasoline, 4,000 cubic meters of diesel, 2,500 cubic meters of kerosene, and 8,500 cubic meters of heavy fuel oil are transported daily.
Younis emphasized the refinery’s significance in supporting Iraq’s economy and meeting domestic fuel requirements. In addition, he was in charge of a meeting with stakeholders, which included the Korean company that runs the refinery, to make sure that everyone kept their promises before the final project handover on December 15, 2024.
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