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Iraq 02/26/2024
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Baghdad: Haider Al-Jaber
After half a century of extraction and export, Iraq is forced to modernize the infrastructure and legal structure of the oil industry. One of the founders of the Organization of the Petroleum Exporting Countries (OPEC), and among the world’s major oil exporters, he finds himself today facing an increasing need to introduce new methods and more flexible and modernized draft laws into... Its most important industry and the largest source of national production.
The refining industry has been at the top of the government's agenda recently, in a country that has a small number of refineries, even with the reopening of the Baiji refinery in Salah al-Din, the largest refinery in Iraq, after 15 years of cessation.
Kazem Al-Touki, a member of the Parliamentary Energy Committee, said in an interview with “Al-Sabah”: “The oil sector needs financing, because if financing was available, we would not need international licensing companies that spend and then deduct the amounts from production.”
Al-Touki added, “The Iraqi economy is based on selling oil and converting it into salaries for employees, and there is no more investment in oil or anything else,” indicating that “a safe environment is very important, and the same is true of technical expertise in complex industries such as refineries.”
The representative continued, "We have good experience at the level of Iraq. Those who restarted the Baiji refinery are Iraqis, just as the Iraqis developed the Basra refinery and its production lines after the withdrawal of foreign companies," noting that "technical expertise and human resources are available, and there is a need to develop the ports, as there is no There is a special gas platform, and we cannot export more than the currently exported quantity, so we need new strategic transportation lines in agreement with neighboring countries.” For his part, university professor and oil expert Kovind Sherwani called for “completion of the legal aspect in managing the sector and filling the gaps due to the lack of an enforceable oil and gas law since the adoption of the constitution in 2005.” In an interview with Al-Sabah, Sherwani considered the current work of the oil sector to be “reliant on insufficient administrative diligence to cover the most important economic process in the country,” adding that “because of the importance of this sector and the dependence of more than 90 percent of the country’s resources on it, it is The important thing is that it be managed professionally, away from waste and corruption, and that professionals and competent people assume responsibility,” he said.
The oil expert explained, “Iraq has been relying on oil sales for 20 years, while there is additional production capacity that could reach 6 or 7 million barrels, while the current export number is estimated at 3.5 million barrels, and if we exceed this number, we must Develop plans to accommodate additional production capacity if it is achieved.”
The academic pointed out “the importance of investing in natural gas that is burned, as it is an important source of energy, as 17 billion cubic meters are burned annually, while investing additional production capacity in refineries by increasing the capacity of current refineries, and establishing new refineries to meet the local need and export the surplus.”
Sherwani touched on information that included OPEC not restricting the export of petroleum derivatives, and pointed out that “the petrochemical industry depends on natural gas, and the existing plants were out of service in the Second Gulf War, and Iraq today imports a lot of petrochemical materials.”
Edited by: Abdul Rahman Ibrahim
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