Iraq announces signing a contract with Power China and Norinco to build the Faw refinery

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Iraq has signed a contract with two Chinese companies, Power China and Norinco International, to build an oil refinery at the port of Faw on the Gulf, an Iraqi oil official said on Sunday.

The official told Reuters the refinery’s production capacity would reach 300,000 bpd and would include a petrochemical plant, saying the deal was signed on Saturday in Iraq.

The refinery is located in the south of Basra is one of the projects that Iraq is planning to achieve self-sufficiency of oil products.

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