GNU to establish new oil refineries

oil and gas - April 26, 2021

Minister of Economy and Trade Muhammad Al-Hawij on Saturday discussed with the Oil and Gas Minister Muhammad Aoun means to install oil refineries in several regions.

A statement by the Ministry of Economy said the two sides emphasized the need to establish oil refineries in separate areas to produce fuels and convert natural gas into high-quality diesel in order to cover domestic demand.

They also stressed the importance of the government and ministries' role in stimulating investment in the oil industries, in partnership with the local and foreign private sector.

'The government, through its competent ministries, will take all necessary legislative and executive measures to support these projects, provide facilities and technical support for local and foreign private companies, in cooperation with specialized national companies,' Al-Hawij said.

He also noted that the refineries will be installed in areas according to needs to achieve local production of hydrocarbons instead of importing them.

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