Wednesday, January 27, 2010 FOR YOUR EYES ONLY
Turkey plans oil refinery in northern Iraq
The company plans to locate the facility in
the northern Iraqi city Koya near the Taq Taq oil field, 60 kilometers
northeast of Kirkuk.
Executives said Genel has sought a loan to finance the refinery,
estimated at $510 million.
They said the Kurdish Regional Government has
approved the three-stage refinery project, including the development of Taq
Genel plans to launch the first stage of refinery operations in 2011 and
reach initial capacity of 40,000.
Full capacity was scheduled to take place
the following year.