Al-Sudani: Our plan will save nearly $10 billion by halting the import of gasoline and petroleum products.
Al-Sudani: Our plan will save nearly $10 billion by halting the import of gasoline and petroleum products.
2025-10-25 04:04
Shafaq News – Basra
Prime Minister Mohammed Shia al-Sudani announced on Saturday that his government has developed a plan to free up nearly $10 billion for the state treasury by halting the import of gasoline and petroleum products after achieving self-sufficiency in their production within Iraq.
This came in a speech he delivered during the inauguration of the strategic FCC/Factor Catalyst Cracking Unit project at the Shuaiba refinery in Basra Governorate, with a capacity of 107,000 barrels per day.
In his speech, Al-Sudani said that the project, upon its entry into service, represents a pivotal event in the history of the Iraqi oil industry, and everyone has every right to be proud of its accomplishment.
He added that the government’s program has allocated significant space to expanding Iraq’s capacity to refine crude oil and produce and export petroleum derivatives.
Al-Sudani also affirmed that “we set a stated goal of converting 40% of the oil quantities exported by Iraq into high-value products by 2030. We have achieved 35% of the goal.”
He continued, saying, “Our plan will save $4 billion, which was allocated for gas imports, and 6 trillion dinars, which was spent on importing petroleum derivatives.” He pointed out that for two decades, successive governments have failed to pay attention to or plan scientifically and responsibly to advance the petroleum refining sector.
Al-Sudani noted that the project is the result of Iraqi cooperation with Hyundai and the Japanese International Cooperation Agency (JICA), and that the 300,000 barrel-per-day Al-Faw investment refinery will be operational very soon.
The Prime Minister pointed out that this project was implemented according to the latest environmentally friendly technology and Euro 5 specifications.
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