Iraq intends to achieve self-sufficiency in petroleum products during the second quarter of 2024, 24 DEC

Iraq intends to achieve self-sufficiency in petroleum products during the second quarter of 2024

Shafaq News/ Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, confirmed on Saturday the ministry’s intention to reach self-sufficiency in petroleum products during the second quarter of 2024, after the completion of a number of important projects in the refinery sector.

This came during the opening of the project to complete the fourth refining unit with a capacity of (70) thousand barrels per day at the South Refineries Company in Basra Governorate.

Abdul Ghani said in a speech during the celebration that operating this unit will provide large quantities of petroleum products, including naphtha, gas oil, kerosene, liquid gas, and others to cover a large portion of the local need.

The Minister of Oil indicated that the project was among the priorities of the government program and was completed in a record period by the national effort after foreign companies hesitated.

For his part, Director General of the South Refineries Company, Hossam Hussein Wali, said in a speech during the ceremony that the company fulfilled its obligations to the government and the ministry by completing the project within the planned period, stressing that the production of this unit of petroleum products will cover a large part of the local need, especially gas oil and kerosene, indicating that The company contributes through projects to increase refining capacity to meet local needs and improve the quality of petroleum products.

Meanwhile, Oil Ministry spokesman Assem Jihad said that the opening of the fourth unit, with a capacity of 70 thousand barrels per day, will contribute to raising the total refining capacity of the South Refineries Company to 280 thousand barrels per day.

He explained that the first stage will witness the opening of the isomerization unit to improve the quality of products in the refinery, in addition to continuing to complete the (FFC) project, which is considered one of the most promising projects and represents a qualitative leap in upgrading petroleum products to (Euro 5).

shafaq.com