Iraq targets overseas refineries to boost oil revenue
Iraq is exploring investments in high-capacity overseas refineries to secure steady crude sales and maximize revenues, with a particular focus on fast-growing Asian markets, according to Nizar Al-Shatri, Director General of the State Oil Marketing Organization (SOMO).
Iraq launches $2B fertilizer complex in al-Anbar
Iraq has broken ground on a $2B fertilizer complex in al-Anbar, aiming to transform the province’s vast phosphate reserves into a foundation for industrial development. The project is designed to produce 500,000 tons of triple super phosphate (TSP) and one million tons of diammonium phosphate (DAP) annually. Both fertilizers are essential for improving crop yields, especially in nutrient-deficient soils. DAP additionally provides nitrogen, supporting early plant growth.
Iraq signs HOA with KBR, Dragon Oil, and Al Hurra
Dhi Qar Oil Company (DQOC) has signed a Heads of Agreement (HOA) with a consortium comprising KBR (USA), Dragon Oil (UAE), and Al Hurra International to develop the Abu Amoud and Saba [Subba] oilfields in Dhi Qar Governorate. The project will be undertaken as an integrated investment venture. The HOA is not legally binding.