Oil: Iraq's Production Will Reach 7 Million Barrels Per Day And These Are Our New Projects To Enhance Self-Sufficiency
Tuesday 28 January 2025 17:48 | EconomicNumber of readings: 152 Baghdad / NINA / The Ministry of Oil revealed that Iraq's oil production will touch 7 million barrels per day during the next five years, while confirming the completion of new refining projects in the Basra and North refineries, with a total capacity of 220 thousand barrels per day to enhance self-sufficiency in oil derivatives.
Undersecretary of the Ministry of Oil Ali Maaraj said, during his participation in a dialogue session within the activities of the Iraq Energy Conference, which kicked off today, Tuesday, in the capital, Baghdad, that "the
ministry seeks to increase production capacity, which will touch 7 million barrels of oil per day during the next five years, as well as address the burning of associated gas and reach zero filler during the same period, and stop importing oil derivatives soon."
He added, "For the first time, Iraq is witnessing the implementation of integrated projects in the oil sector, including oil extraction, refining, and petrochemical industries, as well as electricity generation and transformation industries such as fertilizers. These projects include the "Basra Integrated Project, the Total Project, and other projects in Nasiriyah and Qayyarah."
He explained that "the Ministry of Oil referred" the fifth licensing round, which had been suspended for more than four years, followed by the sixth licensing round and the fifth round supplement, "as well as referring the development of the Artawi oil field, which includes integrated projects including oil extraction, gas processing, seawater desalination, and energy generation through solar stations."
Regarding gas flaring cessation projects, the Undersecretary of the Ministry confirmed that significant progress has been made in the field of treating associated gas, after launching new processing units with a total capacity of 600 million standard cubic feet in the governorates of Basra, Maysan, and Dhi Qar, "noting the suspension of the import of white oil derivatives and gas oil, while working to stop the import of gasoline soon.
The Undersecretary of the Ministry of Oil reiterated the ministry's commitment to preserving the environment and reducing carbon emissions through clean and renewable energy projects, including modernizing refineries and establishing modern facilities according to "Euro 5" and "Euro 4" standards, which contributes to improving the quality of products and reducing pollution.
He continued by saying that "the Ministry of Oil supplies the Ministry of Electricity with all types of derivatives, at a rate of 10,000 liters of gas oil per day," noting that "Iraqi refineries produce 30,000 cubic meters of gas oil, and some products are exported to support the state budget."
He added that "the Ministry of Oil has self-sufficiency in white oil and factories to improve gasoline," indicating that "the production of national refineries currently covers the local need for white oil, black oil and gas oil." / End 5 https://ninanews.com/Website/News/Details?key=1182519
No comments:
Post a Comment