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Economy News - Baghdad
The Ministry of Oil confirmed, on Thursday, that the refining capacity of Iraq's refineries amounts to 700-750 thousand barrels per day, while indicating that surplus quantities of liquid gas will be exported abroad.
Ministry spokesman Assem Jihad said, “The southern refineries are witnessing very large projects, and we aspire to have their production exceed 280,000 barrels of refining capacity. There are projects, most notably the FCC project, with modern technology that will be reflected in the type and quality of petroleum products,” adding: In addition to a project with a capacity of 30 thousand barrels (the Azmara project), which will be opened in the near future, and thus the southern refineries will meet the needs of a large part of Iraq.”
Jihad added, "The Central Refineries Company operates with a capacity of 120 to 140 thousand barrels per day, and was established in the 1950s of the last century, in addition to the North Refineries and Salah al-Din refineries, which operate with a capacity of 300 thousand barrels per day as refining capacity."
He pointed out that "the production capacity of the Baiji refinery is currently approximately more than 120 thousand barrels per day after part of it was rehabilitated against the backdrop of it being subjected to sabotage and attacks by terrorist gangs in 2014, and the destruction of a large part of it," stressing that "there are plans to rehabilitate other facilities and refineries."
He pointed out that "there is also the Karbala refinery, which operates with modern technology, and its capacity is 140 thousand barrels per day," explaining that "the refining capacity of all refineries ranges between 700 to 750 thousand barrels per day."
He stressed that "the Ministry of Oil aspires to increase production after completing these projects and entering them gradually, with the aim of stopping imports and improving the quality of petroleum products and then moving to exporting the surplus," according to the official news agency.
He warned that "quantities in excess of Iraq's need for liquid gas are currently exported with oil," expressing his hope that "Iraq will turn into a country exporting petroleum products after the completion of all refinery projects."
Added 09/21/2023 - 4:35 PM
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