The Iraqi ministerial council approved on Tuesday at its usual meeting decisions related to the development of the Misan oil refinery. During the meeting, a decision was made to create two new companies, intended for managing projects for modernization and improving the production capacities of the plant.
One of the new companies will be engaged in the construction of new plant facilities, while the other will work on enhancing the efficiency of existing facilities. According to the statement from the representatives of the ministerial council, these steps are aimed at increasing production and export of petroleum products from the Misan refinery.
In the coming months, plans are being made to begin the implementation of these modernization plans, which, as expected, will lead to an increase in its production capacity and will allow to improve the quality of the produced products.
As noted by Iraqi officials, the development of the oil sector is one of the key directions in the country’s economic strategy and will allow to increase revenues from energy exports.
