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[size=38]“Economic Futility” .. Why Does Iraq Import Gasoline From Kuwait?
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LAST UPDATE 06/18/2022 | 4:26 PM
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Information / Baghdad..
Economic expert Nabil Al-Marsoumi confirmed, on Saturday, that Iraq imports gasoline from Kuwait, although it produces twice as much crude oil as the Gulf state.
Al-Marsoumi said in a Facebook post entitled “A Model of Economic Absurdity in Iraq”, which was reviewed by / the information, that “Iraq produces twice as much crude oil as Kuwait,” adding that “Iraq produces 4.5 million compared to 2.7 million barrels per day in Kuwait.”
He added, "Kuwait repeats twice as much crude oil as Iraq repeats. Kuwait's refining capacity is 1.4 million, compared to 800,000 barrels per day in Iraq."
He explained that "Iraq imports oil derivatives with an annual value that may reach $6 billion by the end of 2022, of which $5 billion is gasoline, and Kuwait is one of the important countries exporting gasoline to Iraq." finished/25h
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