Oil: The percentage of imports of derivatives decreased to 50%

Baghdad - INA

The Oil Products Distribution Company confirmed, today, Wednesday, that the government's plans contributed to reducing the percentage of oil derivatives imports to 50% while setting a date for ending the import file completely.

Director General of the Oil Products Distribution Company, Hussein Talib, told the Iraqi News Agency (INA): "The international company used to spend approximately 4 billion and 500 million dollars annually on importing products such as gasoline, gas oil and kerosene, and this spending is decreasing somewhat with the continuation of projects aimed at achieving self-sufficiency."

He added, "Last year, within the ministry's policy and the government program of the current government, witnessed intensive follow-up to complete the stalled projects in the Ministry of Oil," indicating that "the ministry has developed a program within a time plan to complete these projects."

He pointed out that "the most important project completed at the end of 2023 is the Karbala refinery project, which is considered a major source of local products as it refines approximately 140 thousand barrels of crude oil per day, with products that conform to global marketing specifications, including Super 95 octane gasoline, gas oil (kerosene), and all other products."

He explained that "operating the Karbala refinery and completing the refining projects in the northern region reduced the import of petroleum derivatives and ended the import of gas oil and kerosene, as well as reducing the import of improved gasoline from 15 million liters to 7 million liters per day, i.e. 50%."

He stressed that "the Ministry of Oil is working to completely end the import of petroleum derivatives by 2025."