INA- Baghdad
The Ministry of Oil confirmed on Wednesday that the Holy Karbala refinery produces 70 percent of the country's need for oil derivatives, it also indicated to the intention to convert the refinery into a company.
The undersecretary of the Ministry of oil for liquidation affairs, Hamid Younis al-Zubai, told the Iraqi News Agency (INA) that "the Holy Karbala refinery has an independence at a lower level than a company, that it does not affiliate with any other refinery companies," stressing "the intention of the Ministry of oil to raise the Holy Karbala refinery to the level of a company, after completing its infrastructure of and logistics.
He added that "the ministry is currently working on the formation of administrative, technical, financial, legal, contractual and supervisory departments of the refinery.
"After the completion of the infrastructure of the Holy Karbala refinery from the departments and logistics, the cabinet will be approached to approve the refinery as a company," he pointed out.
"The refinery's current production level of oil derivatives covers about 70 percent of Iraq's need," he stressed.
Iraq and Ukraine: Convening joint committee is important
Iraq participates in the Education World Forum 2024
Details of the extraordinary session of the Council of Ministers
UNDP approves the electronic payment services system in Iraq