Iraq intends to achieve self-sufficiency in petroleum products

Iraq intends to achieve self-sufficiency in petroleum products

The Minister of Oil, Hayyan Abdul Ghani, inaugurated the fourth refining unit project at the South Refineries Company today. The unit has a capacity of 70,000 barrels per day.

Abdul-Ghani stated during the project’s opening ceremony, as per the statement from his media office, that the Ministry aims to achieve self-sufficiency in petroleum products by the second quarter of 2024. This will be possible after completing some essential projects in the refinery sector.

He said, “This unit’s operation will produce significant amounts of petroleum products, such as naphtha, gas oil, kerosene, and liquid gas, to meet the local demand.” He mentioned that “the project was a top priority in the government’s program and was completed in a record time, thanks to the national effort after foreign companies showed reluctance.”

He praised “the national effort represented by the employees of the Southern Refineries Company and the supporting parties that were able to overcome all the difficulties and obstacles that accompanied the stages of project implementation during the past years.”

Director General of the South Refineries Company, Hossam Hussein Wali, has stated that the company has fulfilled its obligations to the government and the Ministry by completing the project within the planned period. He added that the production of this unit of petroleum products will cover a large part of the local need, especially for gas oil and kerosene.

The company is contributing to increasing refining capacity to meet local needs and improve the quality of petroleum products through various projects.

According to Assem Jihad, a spokesperson for the Oil Ministry, the opening of the fourth unit with a capacity of 70,000 barrels per day will help increase the total refining capacity of the South Refineries Company. The company’s capacity will now be able to reach 280,000 barrels per day.

Jihad stated, “The next few phases will witness the opening of the Azmara unit to improve the quality of products in the refinery, in addition to continuing to complete the (FFC) project, which is considered one of the most promising projects and represents a qualitative leap in upgrading petroleum products to (Euro 5).”

The celebration was attended by several members of the House of Representatives and the Governor of Basra.