Petrobras to evaluate setting oil refinery in Iraq

13-Apr-09

Petroleo Brasileiro SA (Petrobras), Brazil's state owned oil major, reportedly received a proposal from Iraqi government to set up a oil refinery in the country in its effort to step-up its oil refining capacity. According to regional media reports, Brazilian oil major can decide whether to collaborate with an Iraqi partner or solely construct an oil refinery with minimum capacity of 200,000 bpd. In response, Petrobras has formed a committee to assess the feasibility and scope of the project.