Iraq plans to complete this year the construction of a new oil pier in its key fuel export and import facility in order to raise trade in refined oil products and boost government revenues, Iraqi officials told The Associated Press on Friday. Iraq, OPEC’s second-largest crude oil producer after Saudi Arabia, is one of the most oil-dependent economies, even by OPEC standards, and has seen its budget revenues plummet after last year prices crashed. The country also looks to crack down on corruption and smuggling at the borders with the plan to build the new oil pier and modernize part of its main fuel export and import port, Khor al-Zubair. The construction works at the port are over 70 percent completed, Farhan Fartousi, director-general of the state firm General Company for Ports in Iraq, told the AP. The works are funded by the Japan International Cooperation Agency and include […]