An economist showing the possibility of exporting fuel outside Iraq

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iraqi dinar news

On Thursday, Muhammad Al-Saadi, a researcher in economic affairs, discussed the possibility of the government exporting fuel instead of just crude oil. According to Al-Saadi, Iraq currently produces over 4 million barrels of crude oil daily, with about 3.5 million barrels exported and the remaining 700,000 barrels used domestically.
He suggested that the remaining quantities of fuel in the country could be converted into gasoline and kerosene to meet the country’s internal demand. This could also create the opportunity to export some of it, but only if oil refineries are established in each governorate. The goal is to achieve self-sufficiency in fuel and avoid importing fuel and materials needed for the production process.
He mentioned that the Parliamentary Oil Committee recently addressed the issue of fuel scarcity in certain provinces, particularly Dhi Qar, due to a delay in the arrival of fuel additives from the Emirates. He suggested that if each province had its own refinery, it could eliminate the need for importing fuel and potentially transform Iraq from a net importer to a source of oil derivatives, resulting in significant revenue for the state.

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