Iraqi Dinar News

Trade Iraqi Dinar

Posts tagged: Refinery

Repairing Baiji Refinery to take more than a Year

By , September 6, 2014 10:18 am

Repairing Baiji Refinery to take more than a Year

By John Lee.

The KRG’s Minister of Natural Resources, Ashti Hawrami, has said repairs to the Baiji refinery will take more than a year, following attacks by militants of the Islamic State in June.

According to the report from NINA, he also confirmed that shipment of oil through the pipeline linking Kirkuk and the Turkish port of Ceyhan would not be available after being “vandalized”.

(Source: NINA)

Iraq Business News

Government Still Holds Baiji Refinery

By , August 25, 2014 7:34 am

Government Still Holds Baiji Refinery

By John Lee.

It has been the site of a dramatic siege since the June offensive of the Islamic State of Iraq and the Levant (ISIL) which seized large swathes of northern Iraq.

Baiji refinery was vital for refined fuel products for much of the north of the country, and initially the Iraqi army unit assigned to defend the site fled in the face of the militant onslaught.

In that shocking first week of the ISIL offensive, Iraqi regular soldiers and elite Iraqi Special Operations Forces (ISOF) at the refinery argued about what to do next as ISIL surrounded the facility.

Iraqi soldiers said that without enough food or water it was hopeless trying to hold ground.

The regular troops pulled out, leaving less than 100 Iraqi Special Forces to hold the facility against overwhelming odds. But the ISOF succeeded and were able to be gradually re-supplied by air.

Now this re-supply and reinforcement appears to have paid off, and Iraqi forces appear now to be firmly in control, defeating one ISIL assault on Saturday.

The news will give hope to many Iraqis that their armed forces are no longer retreating in the face of the ISIL advance, but are gaining confidence and holding ground.

(Source: BBC)

Iraq Business News

Troops Secure Haditha Refinery and Dam

By , August 20, 2014 1:33 pm

Troops Secure Haditha Refinery and Dam

By Patrick Schmidt.

The Iraqi government has announced that security forces have reclaimed the K3 Refinery in Haditha. The Islamic State of Iraq and the Levant (ISIL) had occupied the facility and expelled its staff from the area.

Security officials announced that they had killed a number of militants and were now inspecting the facility prior to allowing workers and engineers back onsite.

Haditha has been the site of fierce fighting, located north west of Ramadi, and the town has seen local Sunni fighters battle alongside Shi’a dominated government army units.

However, due to Haditha’s location near ISIL controlled Ninewa province and Iraq’s dangerous western desert, some officials worry the town may yet fall to ISIL.

Haditha is also the site of a key dam (pictured) downstream of the recently recaptured Mosul dam. According to The Wall Street Journal some US officials are considering air strikes to help secure Haditha dam.

The recapture of the refinery is crucial since the facility provides the province with petroleum products ranging from natural gas to fuel oil.

(Source: Al Shorfa,WSJ)

Iraq Business News

Baiji Oil Refinery Comes Under Attack

By , July 28, 2014 12:36 pm

Baiji Oil Refinery Comes Under Attack

By Patrick M Schmidt.

On Saturday, Iraqi security forces reported that ISIS militants had taken control of a portion of the Baiji [Bayji, Beiji] oil refinery.

Since then, security forces have driven the militants off of the oil refinery’s premises and are now searching the area for any remaining militants.

Over the past month, Baiji has been a flash point for multiple clashes between security forces and ISIS fighters. Baiji is considered one of the top producing oil fields in the country.

(Source: Basnews)

Iraq Business News

ISIL “Controls Baiji Refinery”

By , June 24, 2014 7:07 pm

ISIL “Controls Baiji Refinery”

By John Lee.

Sunni rebels led by the Islamic State of Iraq and the Levant (ISIS, ISIL) have taken control of Baiji [Bayji] refinery, near the town of Tikrit, according to Al Jazeera sources.

While foreign minister Hoshyar Zebari told Al Jazeera on Tuesday that Iraqi special forces soldiers were in control, the news agency’s sources said that ISIL rebels had offered 460 Iraqi troops still near the refinery safe passage to Erbil if they gave up their weapons. The ISIL would then hand the facility to local Sunni leaders, the sources said.

The loss of the refinery, the country’ third largest, would result in a significant loss of revenue for the government.

(Source: Al Jazeera)

Iraq Business News

Jordan, Iraq to Build Refinery

By , May 24, 2014 4:21 pm

Posted on 24 May 2014.

Jordan, Iraq to Build Refinery

By John Lee.

Jordan and Iraq are in ‘serious discussions’ to build a refinery in the Red Sea city of Aqaba, reports Xinhua.

Adnan Al Janabi, chairman of Iraq’s energy parliamentary committee, said the refinery will be used to process oil from Basra.

The refinery will help facilitate the export of the oil and bring great benefits to the two countries,” he said.

(Source: Xinhua)

Iraq Business News

Planned Refinery moves Ninawa even Further from Baghdad

By , May 13, 2014 12:25 pm

Planned Refinery moves Ninawa even Further from Baghdad

This article was originally published by Niqash. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Ninawa’s Planned Oil Refinery Moves Sunni-Led Region even Further from Baghdad

The northern Sunni-led region of Ninawa has been planning its own oil refinery for some time now. And last month the foundations were laid. Some say the refinery means that Ninawa is flouting the wishes of the government in Baghdad, planning independence and most controversially, joining forces with Iraqi Kurdistan.

On April 16, 2014, authorities in the northern Iraqi province of Ninawa laid the foundation stones for the first oil refinery in the area. The move comes after a succession of crises between the Shiite Muslim-led federal government in Baghdad and Sunni Muslim-led provincial authorities in Ninawa.

Of course, as conflicts between Ninawa’s neighbouring region of Iraqi Kurdistan and Baghdad have proven, undertaking big oil projects without Baghdad’s express permission can be risky. The Iraqi Kurdish have been moving toward oil production independence for some time now and the most recent projects have seen what some have described as a damaging ”financial blockade” of the semi-autonomous region by Baghdad.

“It is not true that the contract Ninawa has signed with the KAR Group to build a refinery in the Hamadaniyah area, in the east of Mosul, is illegal,” Ninawa’s governor, Atheel al-Nujaifi (pictured), told NIQASH. “The council was included at every step. The company, KAR, won the contract after it was put out to tender – the company beat out some other companies, including a Turkish one,” he noted.

Additionally Ninawa would be cooperating with Iraqi Kurdistan to get the oil refined. “This cooperation reflects the hope for a common future based on Arab-Kurdish cooperation,” al-Nujaifi continued. “We aim to build a stable region, where resources are developed, rather than used to kill our sons.”

Iraq Business News

Iraq May Build Refinery in Sudan

By , March 5, 2014 3:16 pm

Iraq May Build Refinery in Sudan

By John Lee.

The Minister for Oil Abdul Kareem Luaibi [Elaibi] has received the Sudanese Minister of Oil, Mr. Makkawi M. Awadh, and his delegation in his office in Baghdad.

Following the meeting, Mr. Luaibi said:

We discussed [how] to supply Sudan with crude oil, as well as the possibility to participate in building a refinery in [Sudan].

Mr. Awadh and his delegation said they were keen to develop cooperation between the countries, especially in the energy sector.

(Source: Ministry of Oil)

Iraq Business News

KAR Win Ninewa Refinery Contract

By , February 25, 2014 2:03 am

KAR Win Ninewa Refinery Contract

By John Lee.

Baghdad based Iraqi-Kurdish company KAR has won the contract to build Ninewa’s planned 90,000 bpd oil refinery.

To date, the KAR Group have been working on the Erbil refinery in partnership with the Texas based Ventech Company, in addition to a number of oil, gas and construction projects in Iraq.

When complete the new refinery will also have an associated 300 MW power plant and will generate approximately $ 1.15 million a day in revenues for the province, according to Ninewa’s Governor Atheel al-Nujaifi (pictured.) 

The move is another sign of Ninewa province’s growing assertiveness over oil and gas issues and Governor Nujaifi’s desire to move ahead with projects despite Baghdad’s reservations. The refinery will be constructed in two phases, according to Ninewa Oil Committee chairman Hashim Brifkani. Quoted in Iraqi paper Al Mada, Brifkani noted,

“The refinery will have an initial capacity of 60,000 bpd, which will be raised to 90,000 bpd in the second phase.” 

It is unclear at present whether KAR Group will also construct the power station.

(Source: Emirates 24/7) 

Iraq Business News

Maliki Heralds Construction of Karbala Refinery

By , February 24, 2014 2:39 pm

Maliki Heralds Construction of Karbala Refinery

By John Lee.

Prime Minister Nouri al-Maliki has spoken at a ceremony to mark the start of construction on Karbala’s forthcoming 140,000 bpd refinery, Iraq Directory reports.

As part of Iraq’s energy strategy to increase refining capacity to 750,000 bpd, the new $ 6 billion refinery will be constructed by a consortium led by Hyundai Engineering and involving the Refinery of Karbala Corporation over a period of four years. When complete it will produce a range oil and gas based products, including asphalt.

Iraq is planning 3 other major refineries, including the Nasiriyah Integrated Project, a 300,000 bpd refinery, the auction for which takes place on June 19th.

(Source: Iraq Directory) 

Iraq Business News