Middle East Economic Survey

VOL. LIV

No 31

1-Aug-2011

IRAQ

Baghdad Signs $6.5bn Deal For Karbala Refinery, Says Report

Iraq’s Ministry of Oil signed a $6.5bn deal with Italian engineering firm Saipem for the construction of a 200,000 b/d refinery at Karbala, the al-Hayat newspaper reported on 25 July. The report could not be confirmed by MEES press time, but some form of announcement on Karbala, originally envisaged as a 140,000 b/d refinery to be built at a cost of around $4bn,...