Iraq invites India to invest in oil refining

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Speaking at a meeting with Indian petroleum minister Murli Deora, Hariri invited Indian companies to invest in the refining sector in Iraq with assured supply of crude oil. He also said that long term crude oil supply arrangement could be made for Indian refineries. Iraq is one of the major crude oil supplier to India.

Deora offered the utilization of upcoming crude oil storage facility in India by Iraq. The visiting minister expressed keen interest in the proposal as the crude oil could be conveniently supplied to various importing centers from the Indian locations.

Deora also proposed utilization of the services of leading engineering and consultancy firm, Engineers India Limited (EIL) by the Government of Iraq in developing oil sector infrastructure. He said that most of the Indian refineries have been built by EIL in addition to the infrastructure in upstream and downstream sectors of the country. Presently, EIL is implementing among others a major Greenfield refinery project at Bhatinda, Punjab which is progressing quite well.