[size=45]The new Karbala oil refinery will provide 3 billion dollars annually for Iraq's budget
41 minutes ago[/size]
Last Saturday, Iraqi Prime Minister Muhammad Shia al-Sudani officially inaugurated the Karbala oil refinery, 9 years after its construction began, in a move aimed at strengthening the oil product refining sector, which the country spends billions of dollars annually to import from neighboring countries.
Al-Sudani said during a speech from the Karbala refinery, "Iraq must invest its wealth in an optimal investment that covers its needs, and be an influential and active country in the gas, oil and petrochemicals market," noting that the opening of the refinery is the largest refining project the country has witnessed in 4 decades.
Many questions arise about what characterizes the Karbala refinery, the production capacity and the derivatives that it will provide to the local market.
Iraq had signed a contract with a consortium of Korean companies led by Hyundai to establish the Karbala refinery at a cost of $6.5 billion in 2014, and its completion was delayed for various reasons, the most important of which was the financial crisis that hit the country in 2014 coinciding with the decline in global oil prices, according to the official spokesman for the Ministry of Oil, Asim Jihad.
Speaking to Al-Jazeera Net, Jihad confirmed that the ISIS invasion of large areas of the country in the summer of 2014, and then the outbreak of the Corona pandemic in 2020, were among the reasons for the delay in completing the project.
For his part, Mazhar Muhammad Salih, the economic advisor to the Prime Minister, says that the Karbala refinery is the latest technology and the highest value in terms of taking into account environmental conditions, pointing out that all the operating refineries in the country have become “worn out” and operate with low refining capacity.
In his speech to Al-Jazeera Net, Saleh indicates that Iraq annually imports oil derivatives worth between 3 and 4 billion dollars, which is considered shameful for Iraq, which exports more than 4 million barrels of oil per day, and then imports oil derivatives from countries that obtain Iraqi oil, and considered The completion of this refinery is the real starting point for the government program aimed at diversifying the oil sector.
And he added that the refinery's production will cover nearly 60% of what the country imports from oil derivatives, especially since the refining capacity reaches 140,000 barrels per day, in addition to that it generates electric power - through 4 generation oceans - with a capacity of 200 megawatts, 60 megawatts of which go to the grid. The rest of the electrical energy produced is used to operate the refinery, which will be staffed entirely by Iraqis.
And the Prime Minister estimated - during the inauguration of the refinery - that with the start of actual operation, Iraq would save 3 billion dollars annually that were going to import various oil derivatives such as high-octane gasoline, diesel, and others.
The director of the Petroleum Products Distribution Company, Hussein Taleb, had revealed earlier that the daily domestic consumption of fuel amounts to 31 million liters, of which 16 million liters are imported in hard currency to meet the country's needs.
As for the types and quantities of oil derivatives, Saleh revealed that the refinery will produce daily 9 million liters of high-quality gasoline (95 octane), 4 million diesel, 3 million kerosene, 750 tons of liquid gas, 1,000 tons of asphalt, 360 tons of solid sulfur and 8 million sulfur. heavy fuel.
The “Iraqi oil” projects do not stop at this point, as Jihad revealed another project underway in cooperation with the Japanese company “JGC” to invest and refine the oil waste resulting from the southern refineries in Basra, according to what is scientifically known as the co-factor cracking project. FCC” (FCC), which will treat oil waste from refineries and turn them into high-value oil products.
[You must be registered and logged in to see this link.]
41 minutes ago[/size]
[You must be registered and logged in to see this image.]
Last Saturday, Iraqi Prime Minister Muhammad Shia al-Sudani officially inaugurated the Karbala oil refinery, 9 years after its construction began, in a move aimed at strengthening the oil product refining sector, which the country spends billions of dollars annually to import from neighboring countries.
Al-Sudani said during a speech from the Karbala refinery, "Iraq must invest its wealth in an optimal investment that covers its needs, and be an influential and active country in the gas, oil and petrochemicals market," noting that the opening of the refinery is the largest refining project the country has witnessed in 4 decades.
Many questions arise about what characterizes the Karbala refinery, the production capacity and the derivatives that it will provide to the local market.
The newest in the country
Iraq has about 12 refineries with a refining capacity of more than one million barrels per day, and the government confirmed that the new Karbala refinery is the most important and newest, and it is located in Karbala Governorate, about 40 kilometers away from its center, and the area of the refinery is approximately 6 million square meters.Iraq had signed a contract with a consortium of Korean companies led by Hyundai to establish the Karbala refinery at a cost of $6.5 billion in 2014, and its completion was delayed for various reasons, the most important of which was the financial crisis that hit the country in 2014 coinciding with the decline in global oil prices, according to the official spokesman for the Ministry of Oil, Asim Jihad.
Speaking to Al-Jazeera Net, Jihad confirmed that the ISIS invasion of large areas of the country in the summer of 2014, and then the outbreak of the Corona pandemic in 2020, were among the reasons for the delay in completing the project.
For his part, Mazhar Muhammad Salih, the economic advisor to the Prime Minister, says that the Karbala refinery is the latest technology and the highest value in terms of taking into account environmental conditions, pointing out that all the operating refineries in the country have become “worn out” and operate with low refining capacity.
In his speech to Al-Jazeera Net, Saleh indicates that Iraq annually imports oil derivatives worth between 3 and 4 billion dollars, which is considered shameful for Iraq, which exports more than 4 million barrels of oil per day, and then imports oil derivatives from countries that obtain Iraqi oil, and considered The completion of this refinery is the real starting point for the government program aimed at diversifying the oil sector.
refining capacity
The official spokesman for the Ministry of Oil said that the new refinery falls within the European (Euro 5) classification, and is environmentally friendly and takes into account public health and safety conditions. He pointed out that the Karbala refinery depletes a barrel of oil by an estimated 80% and converts it into high-quality products, while the refineries operating in the country do not exceed their capacity to filter 50% of a barrel of oil, which causes the production of black oil residues.And he added that the refinery's production will cover nearly 60% of what the country imports from oil derivatives, especially since the refining capacity reaches 140,000 barrels per day, in addition to that it generates electric power - through 4 generation oceans - with a capacity of 200 megawatts, 60 megawatts of which go to the grid. The rest of the electrical energy produced is used to operate the refinery, which will be staffed entirely by Iraqis.
And the Prime Minister estimated - during the inauguration of the refinery - that with the start of actual operation, Iraq would save 3 billion dollars annually that were going to import various oil derivatives such as high-octane gasoline, diesel, and others.
The director of the Petroleum Products Distribution Company, Hussein Taleb, had revealed earlier that the daily domestic consumption of fuel amounts to 31 million liters, of which 16 million liters are imported in hard currency to meet the country's needs.
[You must be registered and logged in to see this image.]
production quantities
The new Karbala refinery works on refining light and heavy oil, which is compatible with the quality of the Iraqi oil produced, as about 20 types of oil derivatives will be produced, which is confirmed by the economic advisor to the Prime Minister, who added that the Karbala refinery includes 33 operational and service units with large production capacities, It also includes an integrated warehouse, a station for pumping products to external warehouses, and gas filling plants.As for the types and quantities of oil derivatives, Saleh revealed that the refinery will produce daily 9 million liters of high-quality gasoline (95 octane), 4 million diesel, 3 million kerosene, 750 tons of liquid gas, 1,000 tons of asphalt, 360 tons of solid sulfur and 8 million sulfur. heavy fuel.
Ambitious projects
On the background of the opening of the refinery, a spokesman for the Ministry of Oil confirmed that they are working diligently to develop the refining industries sector, revealing that his ministry had announced a few days ago about investment opportunities in the refining sector in the governorates of Maysan and Dhi Qar (south), Nineveh (north) and Wasit (east). Its operational capabilities will range between 30 and 150 thousand barrels as refining capacity, indicating that with the completion of these refineries, the country will achieve self-sufficiency and will export the surplus product abroad.The “Iraqi oil” projects do not stop at this point, as Jihad revealed another project underway in cooperation with the Japanese company “JGC” to invest and refine the oil waste resulting from the southern refineries in Basra, according to what is scientifically known as the co-factor cracking project. FCC” (FCC), which will treat oil waste from refineries and turn them into high-value oil products.
[You must be registered and logged in to see this link.]
Today at 9:38 am by Rocky
» A leader in the National Bank: We are committed to the federal decision and to postpone the election
Today at 9:28 am by Rocky
» Al-Hakim: Iraq's future cannot be mortgaged to volatile oil prices
Today at 9:24 am by Rocky
» The conflict of the corridors: the path to development from a historical perspective and the door to
Today at 9:22 am by Rocky
» The Kurdistan Region demands that the federal government spend 1.1 billion dinars.. What is the reas
Today at 9:21 am by Rocky
» Tomorrow, Iraq is preparing to launch a complementary round of gas licensing
Today at 9:19 am by Rocky
» A government move to restore the funds of the Trade Bank of Iraq
Today at 9:17 am by Rocky
» The Central Bank informs France of plans to restructure the banking sector
Today at 9:15 am by Rocky
» A government advisor reveals the fate of the budget tables
Today at 9:13 am by Rocky
» Iranian mediation between Baghdad and Erbil... Revealing the most prominent files of Raisi’s visit t
Today at 9:10 am by Rocky
» Reconstruction and development is a priority.. A parliamentary committee follows up and monitors gov
Today at 9:08 am by Rocky
» Al-Hakim comments on the agreements concluded with Türkiye and confirms: Iraq is on the right path
Today at 9:06 am by Rocky
» Tomorrow... Iraq takes a step that will give it gas equivalent to 200% of imported Iranian gas
Today at 9:04 am by Rocky
» A long and disturbing message.. The Iraqi government “blames” the United Nations because of “other p
Today at 9:00 am by Rocky
» The Governor of the Central Bank and the French Ambassador discuss developments in the banking secto
Today at 5:18 am by Rocky
» Al-Bajari: Iraqi companies will have a great opportunity to work after opening the door to investmen
Today at 5:16 am by Rocky
» Transparency: Imports from Sulaymaniyah and Halabja during the past week amounted to more than 10 bi
Today at 5:13 am by Rocky
» Al-Sudani: The delayed projects left great damage to the level of services in Babylon
Today at 5:12 am by Rocky
» Economist: The fluctuation of the dollar is “the balance of speculators”
Today at 5:10 am by Rocky
» {Al-Furat News} publishes the text of Al-Sudani’s request to Guterres to end UNAMI’s work in Iraq
Today at 5:08 am by Rocky
» A former MP accuses Türkiye of transferring its conflict with the workers to Iraq
Today at 5:05 am by Rocky
» A call to the Sudanese to remove American forces from Iraq
Today at 5:03 am by Rocky
» Oil Parliament: Ankara holds Erbil responsible for the oil fines it owes
Today at 5:02 am by Rocky
» The government is silent...the reality of removing American forces from Iraq
Today at 5:01 am by Rocky
» The radiation protection law in the first session of the next legislative term
Today at 5:00 am by Rocky
» A Spanish company raises controversy and a representative reveals a parliamentary movement against i
Today at 4:59 am by Rocky
» Sudanese officially requests the end of the United Nations mission in Iraq / documents
Today at 4:58 am by Rocky
» Because its sessions were not held, the Kirkuk Council faces a judicial complaint, and its members d
Today at 4:56 am by Rocky
» Former US Chief of Staff: We slaughtered huge numbers of innocent people in Iraq and other countries
Today at 4:55 am by Rocky
» The Association of Private Banks counts the percentage of shares traded on the stock market during a
Today at 4:53 am by Rocky
» The European Union and Iraq agree to increase cooperation between them
Today at 4:52 am by Rocky
» American Bank: Expectations to increase Iraq’s oil capacity in 2025
Today at 4:50 am by Rocky
» Central Bank Governor to the French Ambassador: The plan to restructure government banks will change
Today at 4:48 am by Rocky
» Integrity confirms working to conclude a memorandum of understanding with the Kuwaiti Anti-Corruptio
Today at 4:47 am by Rocky
» Highlights of the Prime Minister's visit to Babylon
Today at 4:46 am by Rocky
» The Minister of Transport discusses with a Turkish delegation the latest developments in the develop
Today at 4:44 am by Rocky
» Free of charge.. Issuing approximately 13 thousand unified cards for those covered by social protect
Today at 4:42 am by Rocky
» A parliamentary committee advises the government to deter trespassers: Slums are one of the reasons
Today at 4:41 am by Rocky
» Embassy Protection confirms to “Baghdad Today”: The missions are safe and we have taken proactive me
Today at 4:38 am by Rocky
» Water resources resolve the controversy of the “Wadi Al-Tea” project.. It will nourish the Hamrin ic
Today at 4:37 am by Rocky
» After approving the National Security Strategy...a parliamentary movement to host “responsible” figu
Today at 4:36 am by Rocky
» Al-Hakim calls for the distribution of plots of land to the families of the martyrs of the Popular M
Today at 4:34 am by Rocky
» Order 160 Committee completes the “port scandals” papers... and searches for a legal outlet for impl
Today at 4:33 am by Rocky
» It revealed the details of its contract with four companies to complete the census requirements... P
Today at 4:31 am by Rocky
» Egypt, Morocco and Qatar praise the Iraqi Integrity proposal to establish the Arab Law Enforcement C
Today at 4:30 am by Rocky
» The Iraqi Parliament enters its legislative recess and requires holding an “extraordinary” session o
Today at 4:28 am by Rocky
» The Sudanese has not rested since the morning.. He carried out 12 activities and allocated a trillio
Today at 4:27 am by Rocky
» Blinken's agent: Erbil is a strategic ally of Washington in a 360-degree relationship
Today at 4:25 am by Rocky
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
Today at 4:24 am by Rocky
» A leader in the framework: There is no need for early elections...the “legislative” elections will t
Today at 4:23 am by Rocky
» Parliament decides to extend its legislative term by 30 days
Today at 4:22 am by Rocky
» Iraq has the tenth worst economic growth in the world during the last 5 years
Today at 4:19 am by Rocky
» Al-Hakim: The future cannot be mortgaged to volatile oil prices
Today at 4:17 am by Rocky
» It will change the reality of Iraqi banks.. Al-Alaq reveals a plan that enjoys Sudanese support
Today at 4:15 am by Rocky
» MM&C 5/9/24 The Federation of Chambers of Commerce and the European Union discuss cooperation to fin
Yesterday at 9:27 am by Rocky
» MM&C 5/9/24 Customs, security and economic aspects
Yesterday at 9:24 am by Rocky
» Union of Arab Banks: Iraq's environment encourages investment
Yesterday at 6:57 am by Rocky
» Government advisor: Movement to recover bad debts for the benefit of the Iraqi Trade Bank
Yesterday at 6:55 am by Rocky
» The International Development Bank announces the opening of its new branch in Erbil
Yesterday at 6:52 am by Rocky
» Oil seeks to convert refinery products to “Euro 5”... high quality and environmentally friendly
Yesterday at 6:50 am by Rocky
» Budget delay: the cry for help for paralyzed services and disrupted dreams
Yesterday at 6:47 am by Rocky
» Oil: Completion of projects to improve the quality of petroleum products, and others are under imple
Yesterday at 6:44 am by Rocky
» Chairman of the Securities Commission: 3 million shares, average daily trading volume
Yesterday at 6:43 am by Rocky
» Tamim calls on the countries participating in the meetings of the Arab Administrative Development Or
Yesterday at 6:41 am by Rocky
» Parliamentary Endowments: 39 thousand pilgrims, Iraq’s share, and waiving the religious obligation i
Yesterday at 6:39 am by Rocky
» Washington refers to Iraqi legislation that “does not harm” his international presence, and Baghdad
Yesterday at 6:34 am by Rocky
» Deputy: Extending the legislative term depends on sending the budget schedules
Yesterday at 6:30 am by Rocky
» Parliamentary Legal: 88 draft laws on the parliamentary shelf
Yesterday at 6:29 am by Rocky
» The head of the movement denies any Iraqi-American negotiations to remove the coalition
Yesterday at 5:23 am by Rocky
» A deputy expects to resolve the issue of electing the Speaker of Parliament next week
Yesterday at 5:22 am by Rocky
» Obtaining the approval of the Minister of Electricity to fill the energy shortage in Dhi Qar
Yesterday at 5:21 am by Rocky
» Economist on the decline in dollar prices: My time and it will not reach its official price
Yesterday at 5:20 am by Rocky
» The Iraqi Ministerial Council for National Security approves the 2024-2028 strategy
Yesterday at 5:18 am by Rocky
» Mulla Bakhtiar: Nechirvan Barzani's visit to Iran melted the ice between Erbil and Tehran
Yesterday at 5:17 am by Rocky
» Password "78"... Why did the Sudanese government's interrogations and noisy sessions decline?
Yesterday at 5:16 am by Rocky
» JP Morgan forecasts an increase in the oil capacity of Iraq and other countries in 2025
Yesterday at 5:15 am by Rocky
» Turkish Minister of Transport: The development road will cost $20 billion
Yesterday at 5:13 am by Rocky
» The Supreme Committee for Reconstruction and Investment approves a package of strategic projects
Yesterday at 5:12 am by Rocky
» Work: Preparing a unified national strategy to create job opportunities for youth
Yesterday at 5:11 am by Rocky
» The Prime Minister's financial advisor reduces the risks of the budget deficit
Yesterday at 5:10 am by Rocky
» Sudanese announces the signing of an agreement with Japan to finance small and medium enterprises in
Yesterday at 5:09 am by Rocky
» Government Advisor: The Securities Commission represents the governance base for promoting financial
Yesterday at 5:08 am by Rocky
» A unified national strategy to create job opportunities for youth
Yesterday at 5:07 am by Rocky
» A one-week deadline to decide the position of Speaker of Parliament
Yesterday at 5:06 am by Rocky
» Parliament: We coordinate with the competent regulatory authorities to examine medicines
Yesterday at 5:04 am by Rocky
» The Commission suspends the Kurdistan Parliament's voting procedures
Yesterday at 5:03 am by Rocky
» $100 million to localize the pharmaceutical industry
Yesterday at 5:01 am by Rocky
» Increase in external remittances at the Central Bank
Yesterday at 5:00 am by Rocky
» A government advisor reduces the risks of a budget deficit
Yesterday at 4:54 am by Rocky
» Culture: We seek to invest in the stability of the country to advance the tourism sector
Yesterday at 4:53 am by Rocky
» Integrity announces the results of a questionnaire on bribery in real estate registration department
Yesterday at 4:50 am by Rocky
» Parliament comments on Sudanese plan to restructure the government apparatus: It needs radical refor
Yesterday at 4:49 am by Rocky
» The dollar rises again against the Iraqi dinar in Baghdad
Yesterday at 4:45 am by Rocky
» Politician: The government does not deal transparently with the issue of expelling the Americans
Yesterday at 4:43 am by Rocky
» A government bank participating in an accounting project
Yesterday at 4:42 am by Rocky
» Masrour Barzani: The Kurdistan Regional Government has implemented all its obligations and duties
Yesterday at 4:41 am by Rocky
» French Consul: France strengthens relations with the Kurdistan Region
Yesterday at 4:39 am by Rocky
» Studies Center: Sudanese faces the challenges of maintaining sustainable relations with the United S
Yesterday at 4:38 am by Rocky
» “The absence of democracy is not possible.” The federal government remains silent on the postponemen
Yesterday at 4:37 am by Rocky