Undersecretary of Ministry of Oil Emphasizes Accelerated Transition to Full Capacity at Karbala Oil Refinery, 20 AUGUST

Undersecretary of Ministry of Oil Emphasizes Accelerated Transition to Full Capacity at Karbala Oil Refinery

Shafaq News/ Hamid Younes, the Undersecretary of the Iraqi Ministry of Oil for Refining Affairs, reaffirmed the ministry's dedication to expediting the phased transition towards total operational capacity at the Karbala oil refinery, with an envisaged output of 140,000 barrels per day. 

The move followed the successful completion of contractual obligations by a consortium of Korean companies responsible for overseeing the refinery's engineering, technical, and operational requirements.

During a visit to the Karbala Oil Refinery, Younes conducted an extensive inspection of the ongoing operations. He articulated that his visit encompassed a strategic meeting involving key refinery officials, stakeholders, and representatives from the international consulting office. 

The agenda of the discussion revolved around deliberations on the sequential integration of production units, ultimately culminating in the commencement of operational activities at full design capacities.

Younes highlighted that his visit also entailed a comprehensive field tour, encompassing the entirety of the refinery's infrastructure, including control centers and production units.

The Karbala Oil Refinery project marks a significant stride in Iraq's petroleum sector, with the meticulous collaboration between the Ministry of Oil and the consortium of Korean companies. As global oil demand maintains its upward trajectory, the successful operation of this refinery is poised to bolster Iraq's production capacity and further cement its position as a critical player in the global energy landscape.

https://shafaq.com/en/Economy/Undersecretary-of-Ministry-of-Oil-Emphasizes-Accelerated-Transition-to-Full-Capacity-at-Karbala-Oil-Refinery

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Iraqi oil exports to the U.S. outpace Saudi Arabia as North American intake climbs

Shafaq News/ Iraq's crude oil exports to the U.S. has trumped those from Saudi Arabia last week, despite a marginal decline in the rate of supply, data by the Energy Information Administration (EIA) showed on Sunday. 

Drawing on a recent data chart, the EIA illustrated that the average daily crude oil imports by the U.S. from its top nine suppliers stood at 5.953 million barrels last week. This marked a surge of 143 million barrels per day over the preceding week, which registered a daily intake of 5.810 million barrels.

Despite the overarching uptick in imports, Iraq's crude oil exports to the U.S. saw a marginal decline. The EIA's data indicated that exports settled at an average of 304,000 barrels per day last week, a mere dip of 1,000 barrels from the 305,000 barrels per day the week before.

Canada remains the predominant oil exporter to the U.S., with a staggering 3.505 million barrels per day. Mexico followee with an average daily export of 901,000 barrels, Ecuador at 363,000 barrels, and Nigeria, closely tailing Iraq, with 307,000 barrels per day.

Saudi Arabia's average daily exports to the U.S. were pegged at 285,000 barrels, trailed by Brazil at 130,000 barrels, Libya at 85,000 barrels, and Colombia at 75,000 barrels.