Iraq Takes Step Towards Self-Sufficiency in Fuel with New Refinery Project

In a significant step towards energy independence, Iraq recently celebrated the inauguration of a new isomerisation unit at the Basra Refinery. This facility, supported by national efforts, flaunts a production capacity of 11,000 barrels of improved gasoline per day.

The project is expected to deliver a two-pronged benefit. Firstly, it will significantly reduce reliance on imported gasoline. Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul-Ghani, estimates a daily reduction of 1,300 cubic meters in gasoline imports, translating to a cost saving of approximately $350 million annually for the Iraqi treasury. This financial boost can be channeled towards further development projects across the nation.

Secondly, the new unit enhances the quality of domestically produced gasoline. The improved gasoline boasts higher octane ratings, leading to smoother engine performance and potentially reduced emissions. This aligns with the government’s long-term vision of promoting sustainable practices within the oil sector.

Prime Minister Al-Sudani emphasised the crucial role played by the South Refineries Company and other domestic players in overcoming challenges posed by hesitant foreign companies. Looking ahead, the Ministry of Oil plans to unveil similar projects in the north, center, and south of the country, further solidifying Iraq’s path towards self-sufficiency in fuel production.

Source: Ministry of Oil