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Iraq Seeks $20 Bln for Four New Oil Refineries

Oil Minister Hussein al-Shahristani said on Saturday that Iraq is seeking around 20 billion dollars to build four new refineries as it seeks to become a net exporter of petroleum products.

"The investment in the new refineries will be around 20 billion dollars. Each one will cost around five billion dollars," he told reporters at a conference attended by global energy and construction giants interested in bidding for the contracts.

Source: AFP

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