Economy News – Baghdad
Ribwar Taha Mustafa, the Governor of Kirkuk, has signed a pivotal contract for the establishment of an investment refinery in Kirkuk, which is set to produce 70,000 barrels of oil per day. This initiative aims to stimulate economic development in the region and create new job opportunities for local graduates, as highlighted by the governorate.
During an interview, Taha remarked, “The contract signing for the Kirkuk investment refinery represents a significant achievement for the local government in bolstering the province’s economy. I extend my gratitude to Prime Minister Mohammed Shia Al-Sudani and the ministers who endorsed this project and facilitated its execution. Their support reflects a commitment to serve the city of Kirkuk and Iraq as a whole.” He further explained, “The refinery will be strategically located near existing oil facilities and the North Gas Company, having received all necessary approvals from relevant sector departments.” Taha emphasized the Kirkuk administration’s support for the investing entity responsible for the project. He stated, “This initiative will mark a transformative period for Kirkuk’s oil sector, aiming for self-sufficiency in oil derivatives. The project will be executed using advanced technologies and specifications while strictly adhering to environmental regulations to ensure community safety and environmental preservation.”
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