Iraq is seeking investors to build four re- fineries at an estimated cost of $23 billion that would more than double its current through- put capacity, according to wire reports. Oil Minister Hussein al-Shahristani said partners will be offered a 5% discount for buying crude — a recent concession to at- tract investors. The projects will also be ex- empt from state taxes and Baghdad will not interfere in products pricing once the plants are operational, he told local and internation- al oil executives in Baghdad at the weekend.
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