Iraq’s Refining Capacity to hit 750,000 bpd in 2013

Iraq’s refining capacity will increase from its current level of 600,000 bpd to 750,000 bpd next year, said Oil Ministry Undersecretary Ahmad al-Shamaa.

But according to the report from Azzaman, the surge will still fall short of meeting the country’s domestic needs, with some of Iraq’s major refineries producing much less than their capacity due to shortages of crude.

Iraq’s oil production is the highest in 30 years but it lacks the means to transport the crude to some of its refineries lying far away from producing oil fields.

Shamaa said there were plans to build four more refineries in Iraq to propel refining capacity to 1.5 million barrels a day in four years.

(Source: Azzaman)