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Iraq to invite bids for new oil refinery in south

November 20/2020

MOSCOW (MRC) -- Iraq plans to invite international energy companies and investors to compete to build an oil refinery in its southern port of Fao, reported Reuters with reference to the country's oil ministry.

The refinery in Fao will have a 300,000 bpd capacity and include a petrochemical plant, a statement said citing Oil Minister Ihsan Abdul Jabbar.

As MRC wrote previously, in July 2020, Iraqs government agreed to sign a contract with JGC Corp to build a 55,000 barrels per day refinery in the southern region of Basra. The refinery will produce fuels including liquified petroleum gas, gasoline and gasoil, it said, estimating the cost of the facility at USD4 billion.

Ethylene and propylene are feedstocks for producing polyethylene (PE) and polypropylene (PP).

ccording to MRC's ScanPlast report, Russia's estimated PE consumption totalled 1,594,510 tonnes in the first nine months of 2020, up by 1% year on year. Only high denstiy polyethylene (HDPE) shipments increased. At the same time, PP shipments to the Russian market reached 880,130 tonnes in the nine months of 2020 (calculated using the formula: production minus exports plus imports, exluding producers' inventories as of 1 January, 2020). Supply increased exclusively of PP random copolymer.
Author:Margaret Volkova
Tags:PP, PE, crude and gaz condensate, PP random copolymer, propylene, HDPE, ethylene, gas processing, petrochemistry, Iraq, Russia.
Category:General News
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