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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

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    Between promises and reality.. When will Iraq dispense with importing oil derivatives?

    Rocky
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    • Post n°1

    Between promises and reality.. When will Iraq dispense with importing oil derivatives? Empty Between promises and reality.. When will Iraq dispense with importing oil derivatives?

    Post by Rocky Mon 15 May 2023, 2:38 pm

    Between promises and reality.. When will Iraq dispense with importing oil derivatives?
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    Baghdad today - Baghdad
    Iraq is classified as an important and major player in the global oil market, with the country having huge reserves of crude amounting to 145.01 billion barrels, according to Oil & Gas data.
    Iraq's oil production increased by the end of last year (2022) to 4.4 million barrels per day, compared to 4.16 million barrels per day.
    And after Iraq achieved large revenues during the past year, which amounted to 115.5 billion dollars, supported by the jumps in the price of oil in the global market, its revenues were affected during the first quarter of this year (2023), with the decline in prices globally.
    Official data show that Iraqi oil export revenues declined by approximately $6 billion during the first three months of this year, on an annual basis.
    The value of Iraqi oil exports declined to $22.12 billion during the period from January to March 2023, compared to $28.03 billion during the corresponding period of 2023.

    Oil derivatives
    The presence of many oil refineries in Iraq - which is a large oil power in terms of production and reserves - did not prevent the country from suffering from its inability to meet the consumption of oil derivatives.
    The damage to the refining sector in the country and its resort to imports is due to the exposure of many refineries to terrorist attacks that caused the destruction of some of them. This damaged the refining capacity and prompted Iraq to launch a rehabilitation and development plan, with recently offering investment opportunities to build new refineries. 
    The latest annual data of OPEC shows that the refining capacity of oil refineries in Iraq reached 1.11 million barrels per day by the end of 2021, but its production is less than that. As it recorded only 623 thousand barrels per day; Where several refineries operate at less than their designed capacity, after they were victims of armed conflicts.
    Iraq is working on implementing a plan to stop importing fuel and achieve self-sufficiency in the direction of shifting from import to export abroad.

    Oil refinery development plans
    The oil refinery sector in Iraq consists of 3 major government companies that have the majority of the country's refineries under their control; It was led by the North Refineries Company, then the South Refineries Company, and the Middle Refineries Company.
    Although Iraq is one of the world's largest producers of crude oil (more than 4 million daily), it suffers from a deficit in oil derivatives that drains about $5 billion from the country's resources to meet the needs of the local market through imports. Among them, $3.5 billion is for the import of gasoline and diesel only.
    This prompted the government recently to launch a plan to increase the capacity of oil refineries in Iraq, with the aim of stopping fuel imports and achieving semi-self-sufficiency in oil products by 2025, and then shifting to export abroad.
    The total current production capacity of the North Refineries Company is about 210 thousand barrels per day - some refineries may witness disturbances that affect the total capacity from time to time - with the country seeking to increase it with the support of the Al-Sumoud Refinery (formerly Baiji).
    The country also plans to raise the refining capacity of the Midland Refineries Company to 500,000 barrels per day by 2026, supported by the expansion of the Diwaniya refinery.
    It is also working to increase the total production capacity of the Southern Refineries Company to about 280,000 barrels per day, by developing and adding new units to its oil refineries.
    The plan to stop importing fuel is based on basic stages, preceded by the start of production from the Karbala refinery, which will reduce the import of gasoline and kerosene from 15 million liters per day to 7 million liters per day.
    In the second phase of the plan, Iraq intends to expand the Basra refinery, with the aim of reducing the country's need for imports of about 3 million liters per day of gasoline and kerosene.
    This will be followed by work on completing the expansion of the two Al-Sumoud refinery projects in Baiji, north of Baghdad, and the Al-Diwaniyah refinery in central Iraq. To compensate for the remaining amount of needs through the development of existing oil refineries.

    The most prominent refineries in the north
    Iraq hosts many oil refineries, all of which fall under the umbrella of the 3 companies, according to their geographical distribution.
    Among the most prominent and largest of them is the Al-Sumoud refinery, which was previously called “Bayji”, which has a design capacity of 280 thousand barrels per day, and is affiliated with the North Refineries Company. her name.
    Iraq is working to develop and rehabilitate this refinery. As the country aims to raise its capacity to 300,000 barrels per day, the Al-Sumoud refinery consists of 3 refineries; They are Salah al-Din 1, Salah al-Din 2, and the North Refinery.
    Recently, Iraq was able to rehabilitate the Salah al-Din Refinery 1 and raise its capacity to 60,000 barrels per day, while the Salah al-Din Refinery 2 operates with a capacity of 65,000 barrels per day, while it aims to rehabilitate the North Refinery with a capacity of 150,000 barrels per day.
    The North Refineries Company includes the Kirkuk refinery with a refining capacity of 56,000 barrels per day, the al-Siniyah refinery with a capacity of 30,000 barrels per day, the al-Kisk refinery with a capacity of 20,000 barrels per day, a modern refinery with a capacity of 16,000 barrels per day, and the Qayyarah refinery with a capacity of 10,000 barrels per day.

    Most prominent center filters
    One of the largest oil refineries in Iraq is the Dora refinery, which has a refining capacity of 140,000 barrels per day. It belongs to the Midwest Refineries Company, one of the oldest companies operating in the refining sector.
    The central refineries, Karbala refinery, are the latest oil refinery projects in Iraq, with a production capacity of 140,000 barrels per day, and are the most important elements in the plan to stop importing fuel.
    This is in addition to the Samawa and Najaf refineries with a capacity of 30 thousand barrels per day each, in addition to the Diwaniyah refinery with a capacity of 20 thousand barrels per day.
    Iraq is working to expand the Diwaniyah refinery by adding a new refining unit with a capacity of 70,000 barrels per day, to raise its total production to 90,000 barrels per day, with investments of $125 million.
    In early April, Iraq opened the Karbala refinery as the first refinery in the country to operate with modern technologies implemented by the Korean company Hyundai.
    The Karbala refinery is scheduled to remain in trial operation for a period of 3 months with a capacity of 70,000 barrels per day, before officially opening at full production capacity in July 2023.
    According to government data, the refinery contains 33 operational units, a warehouse, a station for pumping products to external warehouses, and gas filling plants.
    The Karbala refinery is affiliated with a power station with a generating capacity of 200 megawatts to supply it with its needs, while providing about 60 megawatts for the transmission network.

    The most prominent refineries in the south
    The South Refineries Company includes the Basra refinery, with a total refining capacity of 210,000 barrels per day, and includes 3 subsidiary refineries (Basra 1, Basra 2, and Basra 3) with a capacity of 70,000 barrels per day for each.
    Among the oil refineries in Iraq - also - belonging to the South Company, are the Maysan refinery with a refining capacity of 40,000 barrels per day, and the Dhi Qar refinery in Nasiriyah with a capacity of 30,000 barrels per day.
    In addition to the aforementioned, there are also refineries in Iraq with small production capacities that the country seeks to increase the capacity of some of them, and others that do not operate at their full design capacities.
    The Bazian refinery, with a refining capacity of 40,000 barrels per day, is the most important oil refinery in the Kurdistan region, according to what was monitored by the Energy Research Unit.

    prospective refineries
    In mid-March 2023, the Iraqi Ministry of Oil offered 7 investment opportunities to develop and enhance the capacity of oil refineries in Iraq, with the aim of increasing the production of oil derivatives to provide the needs of the local market and then achieve a surplus to transform the country from an importer to an exporter of oil products.
    Among the most prominent investment opportunities offered by Iraq are the Maysan refinery project with a capacity of 150,000 barrels per day, and the Qayyarah refinery with a capacity of 70,000 barrels per day.
    These opportunities also included the Nasiriyah or Dhi Qar refinery expansion project, with a capacity of 150 thousand barrels per day, the Kut refinery project with a capacity of 100 thousand barrels per day, and the Samawah refinery project with a capacity of 70 thousand barrels per day.
    Iraq also plans to offer a modern refinery expansion project with a capacity of 70 thousand barrels per day to investors at a later time.
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