Iraq is looking to build a 150,000bpd oil refinery worth USD 2.5 billion near the Bazargan oil field in the southern province of Maysan. US-based firm Shaw Stone & Webster, a subsidiary of Shaw Group Inc. had won a USD 150 million contract last year to provide diagrams for the refinery and it is expected to finish them soon. In 2007, Iraqi parliament approved a law that opens the way for foreign firms to build and operate domestic refineries. Iraq has plans to boost refining capacity by 840,000bpd, as part of a USD 50 billion programme to overhaul the energy industry and boost production.
