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Iraq woos companies to invest in refineries

07/05/2010
Iraq, seeking to double its domestic refining capacity and reduce expensive imports, has offered discounted oil and acreage to companies willing to invest $20 billion on four refineries."The investment in the new refineries will be around $20 billion. Each one will cost around $5 billion," said Iraq's Oil Minister Hussain al-Shahristani, referring to facilities at Karbala, Kirkuk, Maysan, and Nassiriyah."Refinery investments in Iraq are guaranteed more than anywhere else in the world," said al-Shahristani, adding that his country "wants real partners, at any percentage."In an effort to attract investment, al-Shahristani said Iraq will allow investors to set p...
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