Economy Update – Baghdad
The Ministry of Oil announced today the enhancement of the Diwaniyah refinery’s refining capacity to 90,000 barrels per day, following the signing of a development contract.
Adnan Mohamed Hammoud, Undersecretary of the Ministry of Oil for liquidation affairs, stated that “the project aims to increase the refining capacity of the Diwaniyah refinery from 20,000 to 90,000 barrels per day by adding a new unit with a capacity of 70,000 barrels. This marks a significant advancement in boosting national production of oil derivatives and liquefied gas.”
“The development project for the Diwaniyah refinery is estimated to cost $800 million,” he added. “This initiative will foster economic and industrial growth within the governorate and create new job opportunities for residents in the province and neighboring areas, while also supporting the electricity sector.”
Hammoud emphasized the important backing from Prime Minister Mohamed Shi’a Al-Sudani for the liquidation sector, highlighting the government’s strong commitment to enhancing refining capabilities. The signing of this contract aligns with the ministry’s strategic plans to implement several critical projects in this domain.
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