You are right, it is not out of line. 300K BPD is a fair to large sized refinery.
But I wonder what is the intended market for the product from this refinery?
If it is Iraq, then that would represent a reasonable size to build. If it is for the world market, then 300 BPD seems a bit undersized.
The direction the mideast seems to be headed is increasing their refining capacity to deliver finished product to the world market. Testimony to this is the plans (some now on hold) to build much larger refineries.
Most of the bigger are essentially two parallel trains operating somewhat independently.
Brazil has approved two new refineries recently. One is a 300k unit and the other is 600k of two identical trains.
I believe the Iraq will have a combined use of domestic and export, particularly Europe Diesel.
The Brazil units are targeting nearly 100% export. Interestingly the will be designed to produce no Gasoline. They want as much of the crude to go to Europe Grade Diesel. Their refineries will have no FCC unit. Most Naphtha grade material produced from distillation will be feedstock to other units either split to be LGP or feedstock to a hydrogen unit.