Iraq plans to stop importing oil derivatives in 2021

Economy 01:25 PM - 2020-12-25

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On Friday, the Iraqi Federal Government’s Oil Ministry announced that next year's plan includes stopping of importing oil derivatives and relying on local production.

 

The Iraqi News Agency (INA) quoted Mahmoud Abbas, Iraq plans to stop importing oil derivatives in 2021 in the ministry, as saying: "The ministry’s plan during 2021 includes stopping the import of oil derivatives," indicating that this plan is based on the policy of Oil Minister Ihssan Abdul Jabbar, who pledged to stop importing Derivatives and depend on the production of Iraqi oil refineries.

 

Abbas added: "As soon as he assumed the position, the Minister of Oil pledged that the first period, and within six months of the start of work, would witness halting half of the import quantities."

 

He explained that the Corona pandemic has disrupted the work of foreign companies at the refinery projects, indicating that many projects in the field of gasoline improvement have reached their final stages, but they need foreign expertise.

 

He pointed out that the Ministry of Oil has a project in Basra Governorate, which is the gasoline improvement unit in the Shuaiba refinery, as well as a unit in the central and Baghdad refineries, which are close to be operated, but they depend on foreign companies, explaining that these projects will almost be completed next year.

 

The Director General of Oil Projects pointed out that the Ministry of Oil annually imports three and a half billion dollars worth of gasoline and kerosene.

 

 

 

PUKmedia