MP: Iraq will end its oil import bill in 2026.
MP: Iraq will end its oil import bill in 2026.
7-17-2025
Al-Maalouma/Baghdad..
Representative Ali Al-Lami confirmed on Thursday that the oil derivatives import bill will be completely closed by 2026.
Al-Lami said in an interview with Al-Maalouma, “Projects to develop Iraqi oil refineries and establish new refineries are among five important projects in a number of governorates, some of which have already entered the first phase, while others are still in the technical and engineering design stage. These projects will bear fruit in the second half of 2026 by increasing the production capacity of oil products, most notably gasoline.”
He added, “Iraq will be able to completely close its import bill by the end of 2026, which means diverting huge sums of money allocated for imports to finance infrastructure and service projects across all governorates.”
He pointed out that “importing oil derivatives used to burden the general budget with huge sums annually, but projects to develop production units and establish new refineries have contributed to Iraq’s great strides towards achieving self-sufficiency.”
It is noteworthy that Iraq used to import large quantities of petroleum derivatives, especially gas and gasoline, worth billions of dollars to meet the needs of the local market.
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