Oil official: We are close to achieving a surplus in gasoline and exporting it abroad

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[size=52]Oil official: We are close to achieving a surplus in gasoline and exporting it abroad[/size]

[size=45]Baghdad/Bright news[/size]
[size=45]A high-ranking oil official revealed that a surplus of gasoline is imminent and exported abroad, stressing that the operation of the Karbala refinery would reduce imports of motor fuel by 70%.[/size]
[size=45]This comes at a time when an oil expert confirmed that Iraq can invest what was paid for the imported gasoline to pay the construction amounts of the new refinery within a period not exceeding a year and a half.[/size]
[size=45]The Associate Director of the Department of Oil Derivatives, Ihsan Musa Ghanem, said in a statement to Al-Mada that "the Karbala refinery, whose opening stages were started two days ago, will reduce Iraq's import of gasoline by 70%."[/size]
[size=45]Ghanem added, "The completion of the development of the country's refineries, according to the plan set by the Ministry of Oil, will lead to a surplus to be exported abroad after completing the development according to the ten-year plan during the coming years."[/size]
[size=45]He pointed out, "The launch of trial operations for a new oil refinery in Karbala, and this project, according to specialists, would help oil-rich Iraq significantly reduce its imports of fuel."[/size]
[size=45]Ghanem indicated that "Iraq is on the verge of a large surplus of gasoline due to what the Karbala refinery will produce, and after the completion of the (MCC) units in the Basra refinery for crushing, and the development of the Baiji refinery, and thus the country will be satisfied with gasoline."[/size]
[size=45]He pointed out that "the refining capacity of this refinery is 140,000 barrels per day, and it will contribute during the next few period to cover part of the local need and reduce imports of oil derivatives and fuel."[/size]
[size=45]Ghanem stressed that "the ministry has started the first operational phase, and production is scheduled to start early next year."[/size]
[size=45]Ghanem stated, "The Karbala refinery's production of gasoline will be 9 million liters per day, while Iraq imports 15 million cubic meters."[/size]
[size=45]He stressed, "The Karbala refinery, along with the other refineries that were mentioned, and after the completion of the expansions in the Shuaiba refinery in Basra, will cover the local need of gasoline by (90-100%)%."[/size]
[size=45]Ghanem went on to say that "the cost of Iraq's import of oil derivatives, which exceeds $3 billion annually, will drop significantly."[/size]
[size=45]For his part, oil expert Hamza Al-Jawahiri said, in a statement to Al-Mada, that "this refinery is of very high specifications, which is called (Euro 5)."[/size]
[size=45]Al-Jawahiri added, "The greenhouse gas emissions that are harmful to the environment for these specifications decrease to 30% from the normal level."[/size]
[size=45]He pointed out that the advanced refinery will have a production capacity of 140,000 barrels per day, and will produce oil derivatives such as improved (high-octane) gasoline, diesel (kerosene), white oil, jet fuel and other products such as oils and others.[/size]
[size=45]Al-Jawahiri stressed, "The volume of Iraq's import of gasoline will decrease at a rate of 70%, and 90% of diesel. As for other products, there are basically no problems such as white oil and jet fuel."[/size]
[size=45]He stressed, "If the reconstruction and development of the Baiji refinery is completed, Iraq will have large quantities of surplus gasoline and can therefore be exported abroad."[/size]
[size=45]Al-Jawahiri went on to say, "The project is of very great importance to the economy, and we may be able to pay the costs of the refinery through the amounts that were paid to the imported gasoline within a year or a year and a half."[/size]
[size=45]Oil Minister Ihsan Abdul-Jabbar Ismail announced earlier this week the start of pumping crude oil to the Karbala oil refinery, marking the start of the trial operation of the production units of the Karbala oil refinery.[/size]
[size=45]Ismail said in a statement received by (Al-Mada), that "the refinery's refining capacity is 140,000 barrels per day, explaining that it will contribute during the next few period to cover part of the local need and reduce import," praising the national effort, the coalition of Korean companies and all the parties that supported the project.[/size]
[size=45]For his part, Director General of the Central Refineries Company, Ayed Jaber Omran, who managed the pumping wheel on behalf of the Minister of Oil, explained that “the start of pumping crude oil to the refinery’s production units is an important step to expedite the production and refining operations of the refinery, which will provide millions of liters per day of oil products.”[/size]
[size=45]Iraq still relies on imported gasoline to meet the local need, especially for improved fuel (high octane), where crises occur from time to time at the stations that result in severe overcrowding and scarcity, while the security authorities accuse some weak-minded people of smuggling it between provinces in order to achieve financial profits.[/size]
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