July 11, 2018:

 Iraq’s oil ministry said Tuesday investors interested in bidding for the construction of the Kut oil refinery will have until Oct. 4 to submit their bids, Kallanish Energy reports.  The planned refinery, to be built in the Kut Province, south of Baghada, will have 100,000 barrels per day (BPD) of capacity. The project can be done under two investment models – build-own-operate (BOO) and build-operate-transfer (BOOT), the ministry statement said.  The information package for the project is available to companies at a price of $30,000. This is one of the several downstream investment opportunities in Iraq, as part of the country’s ambition to become self-sufficient in oil products.  Promoting the opportunity, the ministry noted under Iraqi investment laws, an investing company will be tax-exempt and the discount rate on the price of crude oil on the ship is 8%, but not less than $5 and not more than $10 from the global price.

By Reuters