03 — Downstream refining

Modernising the fuel supply chain.

The Bazian Refinery near Sulaymaniyah is a cornerstone of Iraq’s downstream sector and one of only two privately operated refineries in the country.

Overview

Restored, upgraded and expanded since 2010.

We acquired a shut-down 12,000 bpd refinery in 2010 and have since restored, upgraded and expanded it. Designed with Ventech Engineering systems, capacity was raised to 45,000 barrels per day. Today the refinery employs around 450 people, about 95% of them skilled local personnel, and supplies on the order of 10% of Iraq’s refined-product demand.

Despite producing millions of barrels of crude a day, Iraq still imports a significant share of its refined products because of under-developed state refining capacity. Bazian helps address this mismatch by producing cleaner-burning gasoline and diesel, high-quality LPG and kerosene, with reduced output of surplus heavy fuel oil — under a long-term tolling agreement with the Federal Government of Iraq / Ministry of Oil.

In numbers

Capacity, people, market share.

  • 45,000bpdrefining capacity
  • ~450employees, ~95% local
  • 2010year acquired
  • ~10%of Iraq’s refined-product demand
  • 1 of 2privately operated refineries in Iraq
Storage tanks and pipelines at the Bazian refinery.
Bazian refinery processing units in daylight
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Public–private partnership

A long-term tolling agreement.

ONEX operates under a long-term tolling agreement with the Federal Government of Iraq, securing a consistent supply of crude for processing and refined products for Iraq’s State Organization for Marketing of Oil (SOMO). The arrangement:

  • secures crude supply for processing over the long term
  • guarantees refined-product offtake through government frameworks
  • supports long-term returns while meeting national energy priorities

It has become a model for public–private partnership in Iraq’s downstream sector, balancing sovereign interests with private-sector efficiency.

Our refinery fills a critical gap in Iraq’s energy ecosystem.

— ONEX
Infographic showing the products refined from a barrel of crude oil
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From crude to everyday products

What a barrel becomes.

A single barrel of crude oil can be refined into many products that play a role in everyday life — gasoline, diesel, jet fuel, kerosene, LPG and fuel oil. Through our refining and trading businesses, we source, store and supply many of them. Process units at Bazian include crude distillation, naphtha treating, isomerisation and related blocks configured for Iraqi product specifications.

Strategy & value creation

How we create value.

Disciplined ownership across the life-cycle of each asset.

01Fill the product gap

By processing domestic crude into gasoline, diesel, LPG and kerosene to national specifications, we reduce import dependence and keep value in-country.

02Operate as a trusted processor

The long-term tolling model with the Federal Government aligns sovereign supply priorities with private-sector operating discipline.

03Reliability and compliance

Modern refining systems, environmental and safety compliance, and a predominantly local skilled workforce underpin continuous operations.

Milestones

A clear path.

Scroll or use the arrows to move through the timeline.

  1. 2010

    Acquired a shut-down 12,000 bpd refinery near Sulaymaniyah.

  2. 2012

    Expanded to 45,000 bpd with Ventech-designed systems.

  3. Today

    ~450 people; ~10% of Iraq’s refined-product demand under a long-term federal tolling agreement.

Footprint

Where this business sits.

Select a pin or a legend entry for details.

  1. 1Bazian Refinery45,000 bpd · near Sulaymaniyah
  2. 2Dubai HQTrading & shipping link

Sustainability

Cleaner fuels, local careers.

Around 95% of the refinery workforce is local. Product slate prioritises cleaner-burning gasoline and diesel, LPG and kerosene, with less surplus heavy fuel oil — supporting both air quality and national fuel-balance goals.

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