Iraq to Decrease Fuel Imports by 25%

The Iraqi Ministry of Oil has announced plans to decrease imports of petroleum products by 25%, Reuters has reported.

The decision was made because crude refineries are being rehabilitated after the conflict with Islamic State militants.

The country is producing extra oil products through processing natural gas liquids, said Jabar Al-Luibi, Iraqi Oil Minister. The official did not specify an exact timing for the import cuts, Oil and Gas Investor informed.

The ministry previously announced it would increase the capacity of the Kirkuk oil refinery and declared plans to rehabilitate parts of its Baiji plant in 2018. The plant used to be the country’s largest petroleum processing facility.

Iraqi regained control of Baiji in 2015. The facility was heavily damaged, making the country dependent on the Baghdad Dora refinery as well as the Shuaiba plant in the south.

Egypt Oil & Gas Contribution Time: 14-Mar-2018 10:12 (GMT)
Egypt Oil & Gas Last Update Time: 14-Mar-2018 10:12 (GMT)

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