Latest news with #JalalHajiAhmed
Shafaq News
03-05-2025
- Business
- Shafaq News
Kirkuk's oil boom: Iraqi PM to launch massive refinery project
Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani is expected to visit Kirkuk on May 5, to lay the foundation stone for a new $2 billion oil refinery project, a government source told Shafaq News. The project, developed by Iraq-based Rania Energy in coordination with the Kirkuk Province, is designed to process 70,000 barrels per day (bpd) of high-quality petroleum derivatives. It has received formal approval from the federal Ministry of Oil and has been endorsed by the Prime Minister's office. 'This project is a major step forward for energy infrastructure in Kirkuk and will directly serve local demand,' Jalal Haji Ahmed, director of Rania Group, stated. According to officials, the refinery will take two to three years to complete and is expected to create approximately 3,000 jobs during its construction and early operation phases. Ali Hammadi, investment advisor to the Kirkuk administration, confirmed that equipment for the facility will be supplied by UOP, a subsidiary of Honeywell based in the United States. 'Final site preparations are underway,' he said. The project marks the first major downstream investment in Kirkuk since the Ministry of Oil first proposed refining expansion in the province in 2017.
Shafaq News
31-01-2025
- Business
- Shafaq News
Iraq signs $2 billion deal for Kirkuk oil refinery
Shafaq News/ Iraqi officials signed a $2 billion deal to build an oil refinery in Kirkuk, officials said on Friday. Ali Hamadi, investment advisor to the Kirkuk governor, said the refinery would help address fuel shortages in the province. 'The project is valued at $2 billion and will take between two and three years to complete,' he told Shafaq News, adding that construction would begin after the project site is handed over. The refinery, designed to process 70,000 barrels per day (bpd) of refined oil products, will be built by Rania International Oil Company, with equipment supplied by US firm UOP. Jalal Haji Ahmed, head of Rania Energy and Oil, said the facility would be built to international standards. 'The refinery will use advanced, environmentally friendly technology.' According to officials, the project is part of the Iraqi Oil Ministry's plan to increase refining capacity, cut reliance on imports, and potentially export surplus products. Kirkuk Governor Rebwar Taha Mustafa said the refinery had received approvals from Prime Minister Mohammed Shia Al-Sudani and the Ministry of Oil. 'This is Kirkuk's first investment contract for a refinery. It will provide jobs and improve the local fuel supply,' he said on Thursday. In turn, oil expert Ali Khalil said Kirkuk, a major oil-producing province, has long needed additional refining capacity. The existing Kirkuk refinery can process 60,000 bpd but lacks modern hydrocracking and distillation units. 'A new refinery will improve fuel quality and reduce dependence on refineries in Baiji and elsewhere,' Khalil said. Iraq, which holds the world's fifth-largest oil reserves, announced plans in 2017 to build a new Kirkuk refinery and increase oil production in the region to over one million bpd. The government has sought investment from foreign firms to expand output.
