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Regions :: Middle East

South Korean consortium awarded refinery contract in Iraq

4:20 AM MST | February 19, 2014 | Natasha Alperowicz

A South Korean joint venture comprising Hyundai Engineering and Construction and GS E&C has secured a $6.04-billion contract to build an oil refinery in Iraq, the companies announced today. The contract covers the construction of the Karbala refinery, south of Baghdad, which will have throughput of 140,000 bbl/day of crude oil and will produce liquefied petroleum gas, gasoline, and other petroleum products. The client is Iraq’s State Company for Oil Projects. The construction of the refinery is expected to take 4.5...

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