Iraq extends bidding deadline for Kut oil refinery

-Oil Ministry seeks investors to build refinery southeast of Baghdad with capacity of 100 thousand barrels of oil per day

Iraq's Ministry of Oil on Tuesday extended the bidding deadline for investors interested in building an oil refinery in Kut, Wasit province southeast of Baghdad.

The refinery will have a capacity of 100,000 barrels of oil per day, according to a statement on the ministry's website.

Interested investors can submit their bids up to Oct. 4.

Iraq is also seeking investors to build another refinery in Diwaniya, south of Baghdad with a daily capacity of 70 thousand barrels. The deadline to submit offers is July 31, the ministry announced on May 15.

Both projects will be developed on a build-own-operate (BOO) or build-operate-transfer (BOOT) model, and will be exempt from taxes.

The process is part of Iraq’s bid to become self-sufficient in oil products. The country is OPEC’s second largest crude oil producer after Saudi Arabia.

By Hale Turkes

Anadolu Agency

energy@aa.com.tr