Iraq Is Seeking to Invest in Global Refineries
|February 8, 2014||Filled under Other News|
Iraq is seekining to enter into partnerships and investments with countries and international companies in the field of oil refineries, said the head of the General Company for Iraqi Oil Marketing (SOMO) Falah al-Amiri.
“Iraq‘s foreign policy in the field of energy summed up in increase production to significant levels with an effective export after achieving self-sufficiency through the construction of new refineries and rehabilitation of existing ones,” he told the National Iraqi News Agency (NINA.)
Al-Ameri added that the oil ministry was making preparation to participate in global refineries in order to increase the diversification of sources of Iraqi export and revenue by increasing the amount of oil refined to raise the status of Iraq’s oil in the global market.
He said that the investment in the global market, through establishing refineries or contributing to it, is a policy followed by many countries, especially Saudi Arabia, which has many refineries and petrol stations in countries like the US and Europe, as well as Kuwait, which has many (petrol) stations in the UK and elsewhere.
He added that this trend was a step for a successful economic policy.
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