Expert points to ‘terrible backwardness’ in Iraqi oil sector
Expert points to ‘terrible backwardness’ in Iraqi oil sector
2025-03-05 02:31
Shafaq News/ Economic expert Nabil Al-Marsoumi warned on Wednesday of a “terrible backwardness” in the Iraqi oil sector, pointing to clear contradictions in the policy of importing and exporting oil products.
Al-Marsoumi said in a statement received by Shafaq News Agency that Iraq exported about 12.910 million tons of petroleum products in 2024, including 11.548 million tons of black oil, equivalent to 90% of total exports.
In contrast, Iraq imported about 2.483 million tons of gasoline in the same year, which, according to Al-Marsoumi, reflects the “terrible backwardness” suffered by the oil refining sector.
He explained that black oil constitutes about half of the production of Iraqi refineries, although its prices in the global market are lower than the prices of crude oil.
Al-Marsoumi pointed out that the government had hoped to achieve self-sufficiency in gasoline after operating the Karbala refinery, but this did not happen due to the problems the refinery was suffering from and other reasons.
shafaq.com
