Iraq is planning to increase the refining capacity of the South Refineries Company (SRC) to 350,000 barrels per day, state-owned Iraqi News Agency reported, citing Oil Minister Hayan Abdul-Ghani.

“The Southern Refineries is today one of the largest Iraqi refineries in terms of production,” he stated.

SRC’s Basrah Refinery is undergoing the implementation of a $4 billion fluid catalytic cracking (FCC) project with a production capacity of 55,000 barrels per day.

In May, Iraq’s Planning Ministry’s spokesperson Abdul-Zahra Al-Hindawi told Zawya Projects that the project is on track for completion in 2025.

(Writing by P Deol; Editing by Anoop Menon)

(anoop.menon@lseg.com)