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Neno's Place Established in 2006 as a Community of Reality


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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    Iraq's export of its oil in the form of derivatives instead of crude... It will bring in 60% more re

    rocky
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    Iraq's export of its oil in the form of derivatives instead of crude... It will bring in 60% more re Empty Iraq's export of its oil in the form of derivatives instead of crude... It will bring in 60% more re

    Post by rocky Fri 21 Oct 2022, 5:14 am


    [size=30]Iraq's export of its oil in the form of derivatives instead of crude... It will bring in 60% more revenues, to achieve $15 billion per month

    2022-10-21
    [/size]
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    Yes Iraq: Baghdad

    Government talks and advice from economists are increasing on the need to diversify the Iraqi economy and the extent of the danger of continuing dependence on oil, amid expectations that the demand for oil will change by 2030, that is, after only 8 years.
    Despite this complete conviction, nothing has happened by successive governments to act according to this conviction, while Iraq continues to approach the danger that all the data confirm the inevitability of its occurrence no matter how long it takes, while specialists describe that “filling the needs of the current generation is at the expense of development and the needs of future generations,” a frightening sentence.
    Perhaps one of the opportunities for economic transformation and to remedy the danger of complete dependence on oil is for Iraq to export, in addition to crude oil, gasoline and other fuels.
    Government advisor Mazhar Muhammad Salih says: “Currently we are importing gasoline to achieve self-sufficiency, we must create an infrastructure that achieves sufficiency and exports the surplus, and in this context we must go to develop the petrochemical and refining sector, and the benefit here will be great, as refining one barrel of crude oil gives us Derivatives are more than 5-7 times their value, and the energy sector is responsible for 50% of GDP, 93% of financial resources and 98% of foreign flows, and therefore a restructuring of the oil sector must take place.”
    A barrel of crude oil of 159 liters can produce 73 liters of gasoline and 38 liters of kerosene, in addition to aviation fuel in an amount of 14.82 liters, as well as liquefied petroleum gases in an amount of 6.6 liters, in addition to heavy fuel oil in a quantity of 6.4 liters. And other products with an amount of 25.8 liters.
    And if we calculate at today’s prices, the average price of a liter of gasoline and kerosene globally is more than 1 dollar per liter, and jet fuel is 0.7 dollars per liter, and if we calculate the rest of the remaining less valuable products at an average price of 0.5 dollars per liter, this means that one barrel will bring in revenues of more From 110 dollars from selling tars of gasoline and kerosene resulting from one barrel, more than 10 dollars from selling jet fuel, and 20 dollars from selling other derivatives, so that the return from refining and selling one barrel of oil is more than 140 dollars per barrel, while the price of a barrel Oil is currently $90 a barrel, which means that revenues will be 60% greater than the revenue from exporting a barrel of oil.
    In other words, if Iraq refines all the barrels of oil that it exports at the present time, amounting to 3.3 million barrels per day, and exports them in the form of derivatives instead of exporting them as crude oil, Iraq's daily revenues will reach 495 million dollars, or about 15 billion dollars per month, but when exported as crude oil. Its revenue will be approximately $297 million per day, or less than $9 billion per month.
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