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    Ministry signs agreement to support Oman’s honey industry

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    Local, Italian companies partner up to establish food retail chain in Egypt

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    Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

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    Azerbaijan, Iraq discuss prospects of relations

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    Oman inks pack to bolster role of SMEs in food systems

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      Egypt’s Trade minister, Hungarian ambassador discuss economic relations

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      Turkey eyes $5bn bilateral trade with Qatar

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      Iraq set to award new Faw Port deals

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      Deal signed to set-up first factory in Qatar to assemble electric vehicles

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      Railway line to be built between Mosul, Turkey: governor of Nineveh

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      Foundation stone laid for new 700-bed hospital is Salalah, Oman

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      Iraq set to award new Faw Port deals

      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

      Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

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      Miral’s premier Abu Dhabi waterfront project work on track

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      Aecom wins Neom utilities infrastructure design contract

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        Investments in renewables in Egypt reach LE6 bn: Official

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        Egypt signs 8 gas exploration contracts worth $934mn over 15 months

        JGC lands $3.7bn Iraq refinery upgradation project deal

        JGC lands $3.7bn Iraq refinery upgradation project deal

        Tadweer opens phase 2 of solar power plant at Al Dhafra

        Tadweer opens phase 2 of solar power plant at Al Dhafra

        France to help Iraq generate electricity, will invest in education, science: Macron

        France to help Iraq generate electricity, will invest in education, science: Macron

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        Acwa Power inks finance deals for 900MW Dubai solar park

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          Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

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          UAE sends medical aid to Iraq to fight COVID-19

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          UAE launches phase III trial of inactivated Covid vaccine

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          COVID-19 vaccine could be available by autumn: Oxford University

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          Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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          Saudi to be among world’s big leisure tourism hubs by 2030

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          Qatar’s hospitality sector peaks despite turbulent 2020

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          Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

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          Staycations to stimulate Qatar’s hospitality sector

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          Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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          Ministry signs agreement to support Oman’s honey industry

          Ministry signs agreement to support Oman’s honey industry

          Local, Italian companies partner up to establish food retail chain in Egypt

          Local, Italian companies partner up to establish food retail chain in Egypt

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Egypt’s agriculture minister stresses importance of boosting intra-regional trade cooperation among African states

          Azerbaijan, Iraq discuss prospects of relations

          Azerbaijan, Iraq discuss prospects of relations

          Oman inks pack to bolster role of SMEs in food systems

          Oman inks pack to bolster role of SMEs in food systems

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          MAFWR, Port of Duqm sign MoU

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            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Egypt’s Trade minister, Hungarian ambassador discuss economic relations

            Turkey eyes $5bn bilateral trade with Qatar

            Turkey eyes $5bn bilateral trade with Qatar

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Deal signed to set-up first factory in Qatar to assemble electric vehicles

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Railway line to be built between Mosul, Turkey: governor of Nineveh

            Local, Italian companies partner up to establish food retail chain in Egypt

            Local, Italian companies partner up to establish food retail chain in Egypt

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            Madayn working on major Oman industrial city projects

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Foundation stone laid for new 700-bed hospital is Salalah, Oman

            Iraq set to award new Faw Port deals

            Iraq set to award new Faw Port deals

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Egypt implements 164 service and development projects at LE4.8 billion in North Sinai

            Miral’s premier Abu Dhabi waterfront project work on track

            Miral’s premier Abu Dhabi waterfront project work on track

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            Aecom wins Neom utilities infrastructure design contract

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              Investments in renewables in Egypt reach LE6 bn: Official

              Investments in renewables in Egypt reach LE6 bn: Official

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              Egypt signs 8 gas exploration contracts worth $934mn over 15 months

              JGC lands $3.7bn Iraq refinery upgradation project deal

              JGC lands $3.7bn Iraq refinery upgradation project deal

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              Tadweer opens phase 2 of solar power plant at Al Dhafra

              France to help Iraq generate electricity, will invest in education, science: Macron

              France to help Iraq generate electricity, will invest in education, science: Macron

              Acwa Power inks finance deals for 900MW Dubai solar park

              Acwa Power inks finance deals for 900MW Dubai solar park

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                Coronavirus: UAE conducting human trials for Covid-19 vaccine

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                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                Egyptian COVID-19 drug to be on market in two weeks: Health Ministry

                UAE sends medical aid to Iraq to fight COVID-19

                UAE sends medical aid to Iraq to fight COVID-19

                UAE launches phase III trial of inactivated Covid vaccine

                UAE launches phase III trial of inactivated Covid vaccine

                COVID-19 vaccine could be available by autumn: Oxford University

                COVID-19 vaccine could be available by autumn: Oxford University

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                Qatar has ‘solid’ line-up of infrastructure, hospitality projects to prepare for large influx of visitors in 2022: OBG

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                Saudi to be among world’s big leisure tourism hubs by 2030

                Qatar’s hospitality sector peaks despite turbulent 2020

                Qatar’s hospitality sector peaks despite turbulent 2020

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Accor inks deal to manage first Swissôtel-branded hotel and residential project in Qatar

                Staycations to stimulate Qatar’s hospitality sector

                Staycations to stimulate Qatar’s hospitality sector

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

                Quarantine rule to give a boost to Qatar’s hospitality industry in Q3: CWQ report

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              Iraq on a tear to triple its refining capacity, keep up with its growing production

              Oilandgas360

              June 9, 2017
              in Economy, Oil & Gas
              0

              Currently, Iraq is capable of processing about 500 MBOPD, far below the ~4.5 MMBOPD the country produced in 2016. Iraq exports much of this surplus crude, making it the third-largest exporter of crude oil according to Bloomberg.
               
              The small amount of refining capacity means that one of the world’s largest oil producers actually has to import gasoline and other refined products. The country spends more than $2 billion each year importing various refined products.

              Multiple projects planned
              A group of planned projects, if they are completed, would go a long way to fixing this problem.
               
              The biggest project is a second refinery in Basra, which would be capable of processing 300 MBOPD. The bidding deadline for the plant has been deferred by three months as more companies expressed interest in the project.

              Bloomberg reports that two Chinese companies are considering a proposed 150 MBOPD facility in Nasiriya. Bidding recently closed on a 70 MBOPD refinery in Kirkuk, and the government will announce results later this month.

              According to Bloomberg, Iraq is looking to further boost its refining capacity by investing overseas. This would have a side benefit of opening up markets for Iraqi crude oil. Bloomberg reports that the Iraqi government is currently discussing investment in refineries and depots with China and Oman, and will soon begin similar discussions with Singapore and Indonesia.

              Karbala refinery encounters problems; govt. paying the contractor in crude oil
              However, not everything is good news for expansion projects. The 140 MBO refinery in Karbala has encountered significant delays, and the government is currently paying the contractor in crude oil while it attempts to secure further funding.

              Iraq’s OPEC deal compliance low, additional production growth on the horizon
              A recent survey by S&P Global Platts reported that Iraqi production increased by 70 MBOPD to 4.43 MMBOPD in May. According to Platts, Iraqi cut compliance is only 70%, one of the lowest among OPEC members.

              In March, the country’s oil minister announced plans to increase output to 5 MMBOPD by the end of the year. At the time, the government was in talks with Exxon to develop two oil fields. These two fields could produce a combined 500 MBOPD, according to the minister. Bids to develop three fields in southeastern Iraq will be open in late 2017. It is not clear if the government’s position on increasing production has changed, as OPEC has agreed to a cut extension since these comments were made.

              The country changed its laws in 2007 in order to make international investment into downstream operations more attractive. Iraq loosened the control of the state oil company by allowing foreign companies to build refineries and operate them over a 40-year period.

              Military conflict shuts in refining capacity in 2016
              The need for increased refining capacity became salient last fall as ISIS targeted oil and gas operations around the country. In mid-2014, Iraq lost 310 MBOPD of refining from the Baiji facility, while attacks at the end of July took the 175 MBOPD Bai Hassan facility offline temporarily. Bai Hassan later resumed operations at 100 MBOPD, but continued tensions between the central government in Baghdad and the semi-autonomous region of Kurdistan, which now controls the area around the facility, had left its potential output in limbo.

              Iraq has a number of projects in the works to help recoup the lost capacity, including a 140 MBOPD facility at Karbala, which is slated for completion in 2019. So far, it is the only grassroots facility to reach the construction phase, and already it is behind schedule due to funding shortfalls from lower oil prices.
              Oilandgas360
              9 June

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