Japan grants Iraq $ 2 billion loan to rehabilitate Basra refinery

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The oil and gas committee in the Basra Provincial Council announced that the Japanese government has agreed to grant Iraq a loan of two billion and (100) million dollars for the implementation of a series of rehabilitation projects in Basra oil refinery, noting that the interest rate of this loan is 2% 40 years old.
“These amounts will be allocated for the implementation of a series of vital and strategic projects in Mustafa Basra as a project (Hydrogenation of gas oil) with a capacity of 20 thousand barrels per day, in addition to the project of the auxiliary unit cracker (FCC) which Is the largest of its kind in the liquidation projects. ”
He added that these projects aim to develop the refinery and reach the daily production of (4500) tons of improved gasoline and (27000) barrels of fuel oil and (40,000) barrels of hydrogenated gas oil, which is produced for the first time in Iraq and according to specifications In addition to the production of (500) tons of liquid gas, which enhances the actual need. “

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