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After the opening of the fourth refining unit.. Why does Iraq produce surplus material?
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Baghdad today - Baghdad
Today, Saturday (December 23, 2023), oil expert Nabil Al-Marsoumi asked about the economic feasibility of producing fuel oil from the fourth refining unit in the southern refineries, which was opened today.
Commenting on what was circulated in the media regarding a statement by the Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Al-Zubaie, announcing the start of production of fuel oil in the fourth refining unit with a capacity of 50 thousand barrels per day, Al-Marsoumi said: “What is the economic feasibility of producing more fuel oil or black oil, since Iraq It is self-sufficient and exports about $4 billion annually at a price of about half the price of crude oil.
Fuel oil is considered a heavy material or refinery waste, as fuel oil must be extracted at a rate of 3% of a barrel of oil, meaning that each barrel of oil must produce less than 5 liters of fuel oil. However, Iraq’s outdated refineries produce large quantities of fuel oil. Fuel oil instead of filtering it and producing larger quantities of gasoline and light products, according to specialists.
For example, the Karbala refinery produces 4 million liters of fuel oil from refining 140,000 barrels per day, which means that one barrel produces about 30 liters.
Iraq produces more than 50 million liters of fuel oil per day, equivalent to 18 billion liters annually, according to the Ministry of Oil, while Iraq exported more than 7 billion liters of it in 2022, worth $4 billion.
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