ERBIL, Kurdistan Region - Iraq says it currently refines 1.3 million barrels of oil per day, making it one of the top Arab countries with the highest capacity in the field.
"This growth and expansion in capacity will move Iraq towards achieving a refining capacity of 1.65 million barrels per day," reads a statement on Sunday from Iraqi Prime Minister Mohammed Shia' al-Sudani's media office.
The Iraqi government has recently increased its oil refining capacity by expanding the Maysan and Diwaniyah refineries, as part of Baghdad's efforts to achieve fuel self-sufficiency and become an exporter of refined products.
The statement added the goal is part of Baghdad's ongoing efforts to strengthen "national sovereignty in the energy and petroleum derivatives sectors, and towards consolidating economic stability."
It detailed that the achievement will help Baghdad bring reliance on "importing petroleum products to its lowest level in decades."
It also saves Iraq "billions of dollars... strengthening the trade balance, enabling the export of surplus petroleum products in the near future, creating new job opportunities in the energy sector and related sectors, improving fuel quality to international standards, and reducing carbon emissions and pollution."
Sudani's office also revealed that the Ministry of Oil has developed a plan to begin exporting jet fuel after achieving self-sufficiency.
Oil is Iraq’s main source of income, relied on to cover government costs and pay civil servant salaries.
Iraq has over 20 refineries, with the largest located in Baiji, Basra, and Daura.
"This growth and expansion in capacity will move Iraq towards achieving a refining capacity of 1.65 million barrels per day," reads a statement on Sunday from Iraqi Prime Minister Mohammed Shia' al-Sudani's media office.
The Iraqi government has recently increased its oil refining capacity by expanding the Maysan and Diwaniyah refineries, as part of Baghdad's efforts to achieve fuel self-sufficiency and become an exporter of refined products.
The statement added the goal is part of Baghdad's ongoing efforts to strengthen "national sovereignty in the energy and petroleum derivatives sectors, and towards consolidating economic stability."
It detailed that the achievement will help Baghdad bring reliance on "importing petroleum products to its lowest level in decades."
It also saves Iraq "billions of dollars... strengthening the trade balance, enabling the export of surplus petroleum products in the near future, creating new job opportunities in the energy sector and related sectors, improving fuel quality to international standards, and reducing carbon emissions and pollution."
Sudani's office also revealed that the Ministry of Oil has developed a plan to begin exporting jet fuel after achieving self-sufficiency.
Oil is Iraq’s main source of income, relied on to cover government costs and pay civil servant salaries.
Iraq has over 20 refineries, with the largest located in Baiji, Basra, and Daura.
