Parliamentary Oil Committee: Iraq achieves self-sufficiency in most derivatives and is moving towards exporting the surplus.
Parliamentary Oil Committee: Iraq achieves self-sufficiency in most derivatives and is moving towards exporting the surplus.
7-15-2025
Information/Baghdad…
MP Kazem Al-Tawki, a member of the parliamentary Oil and Natural Resources Committee, emphasized that the sale and export of petroleum derivatives contributes to the federal budget’s revenues and is a necessary resource for bridging the budget deficit.
Al-Tawki told Al-Maalouma, “Iraq has achieved self-sufficiency in many petroleum products and has also achieved a surplus in some derivatives, while there are products whose domestic availability has reached 80 percent.”
He added, “Iraq exports liquefied natural gas abroad in addition to gasoline, while the government still imports refined gasoline from abroad. Self-sufficiency in this product may be achieved in the coming days.”
He explained that “oil derivatives sold outside OPEC provide the budget with significant revenues, which can help finance the federal budget and offset the decline in global oil prices.”
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