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Officials and experts: Exporting aviation fuel is an important achievement that will open new markets for Iraqi exports
Reports
Economy News - Baghdad
After white oil and kerosene, Iraq achieved self-sufficiency in aviation fuel, in
a step that practically translated the government’s programs to stop importing petroleum derivatives and completely cover the local need.
While the Ministry of Oil considered this development an important achievement, the Parliamentary Energy Committee confirmed its support for the government’s plans aimed at achieving sufficiency in all derivatives.
While oil experts believed that exporting it, including aviation fuel, would increase the state’s revenues by three times what the export of crude oil alone would add.
A major achievement in the filtration sector
The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis, says,
“The production of jet fuel has reached 2,500 tons per day, of which 1,500 tons cover the local need, while the remaining 1,000 are being exported through the Iraqi Oil Marketing Company (SOMO).” He added,
"This major achievement is part of a series of achievements in the refinery sector and came as a result of the support provided by Prime Minister Muhammad Shiaa Al-Sudani, Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani, as well as the efforts of those working in the refinery sector." He stated that
"the process of exporting aviation fuel is an achievement added to the achievements of the refinery sector, as its importance lies in two cases.
The first is maximizing financial revenues to the state treasury, and this is part of the government program of the Prime Minister," pointing out
"continuing to maximize these revenues by raising production capacities and exporting Products surplus to consumer needs. He stated,
"Another importance is access to high-quality products, especially aviation fuel, since this product must be of high quality in civil airline aircraft.
This is a great achievement for developing the work of our refineries."
Development of high-quality refining centers
The advisor to the Prime Minister, Mazhar Muhammad Salih, says,
“The country’s oil policy is moving towards a strategy of diversifying oil derivatives, as within the next twenty months the country will be completely satisfied with the production of gasoline, achieving self-sufficiency, and stopping imports, with the development of high-quality refining centers in Iraq.” Whether in the refineries of Basra, Holy Karbala, Baiji and others, or those in the role of technological development.” He added,
"With regard to aviation fuel, the available information indicates that the country produces about 5,000 cubic meters of aviation fuel per day, as these quantities depend on local production from Iraqi refineries to meet the needs of the local market and export the surplus outside the country."
Ongoing plans to develop the oil industry
Committee member Zainab Jumaa Al-Moussawi says,
“The committee supports plans that aim to increase the production of derivatives, achieve self-sufficiency, and export the surplus through ongoing government plans to develop the oil industry in the country.” Al-Moussawi added,
“The committee is also counting on developing the oil sector by relying on national companies with the support of foreign companies because oil represents the lifeblood of the Iraqi economy, and developing the oil sector will entail providing the necessary financial resources to invest in building real human and material capital that will lead to raising oil production.” As well as derivatives and the development of other economic sectors.” She continued:
"We are anticipating the entry of huge investments during the coming period into the oil refining sector in Iraq, and
there are efforts by the government of Prime Minister Muhammad Shiaa Al-Sudani to secure the country's fuel needs and reduce the import bill."
A real beginning to open new markets for Iraq
Oil expert Ahmed Saddam asserts,
“Achieving self-sufficiency in aviation fuel, and before that, kerosene and white oil, is not limited to self-sufficiency and reducing the import of derivatives only, but rather means the success of the Ministry of Oil’s policy within this framework.
It also indicates a relative increase in the level of added value, which contributes to supporting The government's efforts towards economic diversification. He added,
"We can also look at this step as an investment in the competitive advantage that Iraq has, represented by the abundance of crude oil. Therefore,
exporting approximately 800-1,000 tons per day of aviation fuel can be considered a real beginning for opening new markets for Iraq in the energy market, and this is the case."
It could encourage the Ministry of Oil to increase production capabilities in the refining industry further.” He continued,
"In addition to raising the added value, achieving self-sufficiency represents support for the economy represented by eliminating financial payments for aviation fuel,
which means contributing to saving the dollar that was previously paid for imports.
We hope that production capabilities in the field of gasoline will increase to get rid of the import of derivatives that cost the Ministry of Finance." Approximately 5 billion dollars annually, gasoline representing 80% of its value.”
Member of the Parliamentary Oil, Gas and Natural Resources Committee, Zainab Al-Moussawi, confirms that Prime Minister Muhammad Shiaa Al-Sudani seeks to secure fuel needs and reduce the import bill. Revenues 3 times greater than crude oil
Derivatives export revenues are 3 times that of crude oil
In turn, oil expert Kovind Sherwani says,
“The Iraqi Oil Ministry is making great efforts to meet internal needs and achieve internal sufficiency in petroleum derivatives.
Last year, it achieved self-sufficiency in kerosene (white oil) and gas oil (kerosene), and
work is now being done to increase The capacity of refineries to produce gasoline, and
it is hoped that by the end of this year or the beginning of 2025, we will reach self-sufficiency in gasoline, especially the improved one.” He added,
"As for the percentage of aviation gasoline, this is also a new and useful step, as
for the first time Iraq is exporting petroleum derivatives in addition to exporting more than 3 million barrels of crude oil." He continued,
"The Ministry of Oil's plans aim to expand the production of petroleum derivatives to reach sufficiency and then begin exporting.
The issue of export, including aviation fuel, is very important because it achieves returns and profits amounting to three times the export of crude oil, and
there are no restrictions on the export of derivatives by OPEC or OPEC." OPEC Plus group as it exists for crude oil.” He added,
"Therefore, Iraq, which has a great ability to raise oil production to approximately five or six million barrels per day, can convert this surplus production into oil derivatives, and
this is of course after expanding the current refineries and building other refineries."
Source: Official News Agency (INA)
views 158 Added 10/13/2024 - 9:28 PM
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Reports
Economy News - Baghdad
After white oil and kerosene, Iraq achieved self-sufficiency in aviation fuel, in
a step that practically translated the government’s programs to stop importing petroleum derivatives and completely cover the local need.
While the Ministry of Oil considered this development an important achievement, the Parliamentary Energy Committee confirmed its support for the government’s plans aimed at achieving sufficiency in all derivatives.
While oil experts believed that exporting it, including aviation fuel, would increase the state’s revenues by three times what the export of crude oil alone would add.
A major achievement in the filtration sector
The Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Younis, says,
“The production of jet fuel has reached 2,500 tons per day, of which 1,500 tons cover the local need, while the remaining 1,000 are being exported through the Iraqi Oil Marketing Company (SOMO).” He added,
"This major achievement is part of a series of achievements in the refinery sector and came as a result of the support provided by Prime Minister Muhammad Shiaa Al-Sudani, Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani, as well as the efforts of those working in the refinery sector." He stated that
"the process of exporting aviation fuel is an achievement added to the achievements of the refinery sector, as its importance lies in two cases.
The first is maximizing financial revenues to the state treasury, and this is part of the government program of the Prime Minister," pointing out
"continuing to maximize these revenues by raising production capacities and exporting Products surplus to consumer needs. He stated,
"Another importance is access to high-quality products, especially aviation fuel, since this product must be of high quality in civil airline aircraft.
This is a great achievement for developing the work of our refineries."
Development of high-quality refining centers
The advisor to the Prime Minister, Mazhar Muhammad Salih, says,
“The country’s oil policy is moving towards a strategy of diversifying oil derivatives, as within the next twenty months the country will be completely satisfied with the production of gasoline, achieving self-sufficiency, and stopping imports, with the development of high-quality refining centers in Iraq.” Whether in the refineries of Basra, Holy Karbala, Baiji and others, or those in the role of technological development.” He added,
"With regard to aviation fuel, the available information indicates that the country produces about 5,000 cubic meters of aviation fuel per day, as these quantities depend on local production from Iraqi refineries to meet the needs of the local market and export the surplus outside the country."
Ongoing plans to develop the oil industry
Committee member Zainab Jumaa Al-Moussawi says,
“The committee supports plans that aim to increase the production of derivatives, achieve self-sufficiency, and export the surplus through ongoing government plans to develop the oil industry in the country.” Al-Moussawi added,
“The committee is also counting on developing the oil sector by relying on national companies with the support of foreign companies because oil represents the lifeblood of the Iraqi economy, and developing the oil sector will entail providing the necessary financial resources to invest in building real human and material capital that will lead to raising oil production.” As well as derivatives and the development of other economic sectors.” She continued:
"We are anticipating the entry of huge investments during the coming period into the oil refining sector in Iraq, and
there are efforts by the government of Prime Minister Muhammad Shiaa Al-Sudani to secure the country's fuel needs and reduce the import bill."
A real beginning to open new markets for Iraq
Oil expert Ahmed Saddam asserts,
“Achieving self-sufficiency in aviation fuel, and before that, kerosene and white oil, is not limited to self-sufficiency and reducing the import of derivatives only, but rather means the success of the Ministry of Oil’s policy within this framework.
It also indicates a relative increase in the level of added value, which contributes to supporting The government's efforts towards economic diversification. He added,
"We can also look at this step as an investment in the competitive advantage that Iraq has, represented by the abundance of crude oil. Therefore,
exporting approximately 800-1,000 tons per day of aviation fuel can be considered a real beginning for opening new markets for Iraq in the energy market, and this is the case."
It could encourage the Ministry of Oil to increase production capabilities in the refining industry further.” He continued,
"In addition to raising the added value, achieving self-sufficiency represents support for the economy represented by eliminating financial payments for aviation fuel,
which means contributing to saving the dollar that was previously paid for imports.
We hope that production capabilities in the field of gasoline will increase to get rid of the import of derivatives that cost the Ministry of Finance." Approximately 5 billion dollars annually, gasoline representing 80% of its value.”
Member of the Parliamentary Oil, Gas and Natural Resources Committee, Zainab Al-Moussawi, confirms that Prime Minister Muhammad Shiaa Al-Sudani seeks to secure fuel needs and reduce the import bill. Revenues 3 times greater than crude oil
Derivatives export revenues are 3 times that of crude oil
In turn, oil expert Kovind Sherwani says,
“The Iraqi Oil Ministry is making great efforts to meet internal needs and achieve internal sufficiency in petroleum derivatives.
Last year, it achieved self-sufficiency in kerosene (white oil) and gas oil (kerosene), and
work is now being done to increase The capacity of refineries to produce gasoline, and
it is hoped that by the end of this year or the beginning of 2025, we will reach self-sufficiency in gasoline, especially the improved one.” He added,
"As for the percentage of aviation gasoline, this is also a new and useful step, as
for the first time Iraq is exporting petroleum derivatives in addition to exporting more than 3 million barrels of crude oil." He continued,
"The Ministry of Oil's plans aim to expand the production of petroleum derivatives to reach sufficiency and then begin exporting.
The issue of export, including aviation fuel, is very important because it achieves returns and profits amounting to three times the export of crude oil, and
there are no restrictions on the export of derivatives by OPEC or OPEC." OPEC Plus group as it exists for crude oil.” He added,
"Therefore, Iraq, which has a great ability to raise oil production to approximately five or six million barrels per day, can convert this surplus production into oil derivatives, and
this is of course after expanding the current refineries and building other refineries."
Source: Official News Agency (INA)
views 158 Added 10/13/2024 - 9:28 PM
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