Oil to Al-Zawraa: Iraq is moving towards developing the refining industry to achieve large financial

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[size=52]Oil to Al-Zawraa: Iraq is moving towards developing the refining industry to achieve large financial returns[/size]

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2024/08/12
It was confirmed that the refining sector has witnessed significant development during the previous period...
Hussein Faleh:
The Ministry of Oil announced Iraq's move towards developing the refining industry to achieve large financial returns, while confirming that the refining sector has witnessed significant development during the previous period.
The ministry's spokesman, Asim Jihad, said in an interview with "Al-Zawraa": The refining sector has witnessed significant development during the previous period, as there is a development in the production rates of petroleum derivatives, which has been reflected in the reality of providing petroleum derivatives for local consumption. Pointing out that the southern refineries have achieved very large production rates, and the isomerization unit that was recently opened added 1.3 million liters of gasoline. He added: The ministry seeks to improve the quality and efficiency of petroleum products, including gasoline. He stated: The production of the southern refineries increased during the previous period after the opening of the fourth unit with a capacity of 70 thousand barrels, and the refined production became around 280 thousand barrels per day as a refining capacity. He pointed out: There is a promising project that will be opened soon, in which we have achieved 85% completion, which is the FCC project with a capacity of 55 thousand barrels per day. The project converts black oil or oil waste into high-quality white derivatives, and thus the surplus oil waste will be converted into oil derivatives. He stressed: The refinery sector in the south is witnessing very great growth and development. He continued: As for the northern refineries, there is also great development after the opening of a group of projects. He stated: There is interest from the government and directly from the Prime Minister and his follow-up of projects in all sectors, including the refining industry sector, and Iraq is heading towards focusing on this aspect for its economic feasibility and economic impact, and to achieve large financial returns in the future, as there was support for stalled and faltering projects, as well as activating modern projects and activating investment in this sector. He explained: We have achieved great progress, as the Karbala refinery, which was suffering from problems, was opened, and today it produces 140 thousand barrels, and also the northern refineries after being exposed to terrorist operations, we succeeded with national effort in rehabilitating them and today they produce 150 thousand barrels per day, in addition to the Salah al-Din / 1 refinery with a capacity of 70 thousand barrels and the Salah al-Din / 2 refinery with a capacity of 70 thousand barrels. Earlier, the Ministry of Oil announced a decrease in the import of petroleum products to more than 50% during the past two years, while indicating that local production is sufficient to accommodate cars, generators and everything related to power stations. The media manager of the Oil Products Distribution Company, Rafid Sadiq, said in a press statement: “The oil company can talk about rates “The daily consumption of petroleum derivatives, while the production rates are the responsibility of the refining sector, and the Ministry of Oil has multiple sectors, including (refining, gas, extraction and distribution) that are isolated from each other.” He added that “the current production of gasoline and kerosene is about 30,000,000 liters per day, in addition to the increase that occurred in the past two months in kerosene for private generators,” noting that “the consumption and import rate two years ago for kerosene and white oil reached 50%, and after the Prime Minister’s government came to power, it declined to zero. As for gasoline, the rate decreased from 50% to 25%, and these rates helped bring the Karbala refinery into service and expand the refineries in Dora, Haditha and Basra, and return the Baiji refinery to work at almost full capacity.”[/size]
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