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Oil details the government's plans to convert 40% of crude oil into oil derivatives
Economy Yesterday, 21:30
Baghdad - IA
Today, Saturday, the Ministry of Oil detailed the government’s plans to convert 40% of crude oil into oil derivatives and joint-stock projects, and
while it confirmed that the completion of the fixed gas platform project in the Grand Al-Faw Port will achieve stability in the work of electric power stations, it indicated that it is part of the country’s economic security.
Deputy Minister of Oil for Refining Affairs, Hamid Younis, told the Iraqi News Agency (INA):
“The government has translated plans into reality in the oil industries, and is working to convert 40% of crude oil into oil derivatives by working on current projects.” He added,
"We have projects with a capacity of 70,000 barrels in Maysan, Nasiriyah, and Diwaniyah, in addition to the unit with 70,000 barrels in Dora and another 70,000 barrels in Qayyarah, in addition to 70,000 barrels in Haditha," indicating,
"The total of these projects will produce 420 million barrels."
In addition to this, the Al-Faw Refinery investment project, whose contract will be signed in the coming days, will have a capacity of 300,000 barrels.
This means that government plans will exceed 40% of the required quantities.”
Regarding the project to establish a fixed gas platform in the Grand Al-Faw Port, Younis explained,
“The importance of the project lies in that it is not an import or export process of gas as much as it will achieve stability in the supply to electric power stations that operate on dry gas that cannot be stored in tanks,” explaining that
“Maintaining or stopping gas stations harms their operation.” He pointed out,
"The Ministry supports and advocates interest in this project with the aim of (liquefying) the dry gas, because in this case it will be possible, when the network pressure decreases, to feed the power stations by returning the gas directly from its liquid state to its gaseous state, thus ensuring that the gas will not be stopped to the stations." He pointed out,
"The project is part of the country's economic security as it maintains the stability of electrical power plants and reduces downtime problems."
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Economy Yesterday, 21:30
Baghdad - IA
Today, Saturday, the Ministry of Oil detailed the government’s plans to convert 40% of crude oil into oil derivatives and joint-stock projects, and
while it confirmed that the completion of the fixed gas platform project in the Grand Al-Faw Port will achieve stability in the work of electric power stations, it indicated that it is part of the country’s economic security.
Deputy Minister of Oil for Refining Affairs, Hamid Younis, told the Iraqi News Agency (INA):
“The government has translated plans into reality in the oil industries, and is working to convert 40% of crude oil into oil derivatives by working on current projects.” He added,
"We have projects with a capacity of 70,000 barrels in Maysan, Nasiriyah, and Diwaniyah, in addition to the unit with 70,000 barrels in Dora and another 70,000 barrels in Qayyarah, in addition to 70,000 barrels in Haditha," indicating,
"The total of these projects will produce 420 million barrels."
In addition to this, the Al-Faw Refinery investment project, whose contract will be signed in the coming days, will have a capacity of 300,000 barrels.
This means that government plans will exceed 40% of the required quantities.”
Regarding the project to establish a fixed gas platform in the Grand Al-Faw Port, Younis explained,
“The importance of the project lies in that it is not an import or export process of gas as much as it will achieve stability in the supply to electric power stations that operate on dry gas that cannot be stored in tanks,” explaining that
“Maintaining or stopping gas stations harms their operation.” He pointed out,
"The Ministry supports and advocates interest in this project with the aim of (liquefying) the dry gas, because in this case it will be possible, when the network pressure decreases, to feed the power stations by returning the gas directly from its liquid state to its gaseous state, thus ensuring that the gas will not be stopped to the stations." He pointed out,
"The project is part of the country's economic security as it maintains the stability of electrical power plants and reduces downtime problems."
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