Oil Minister Jabbar Ali al-Allaibi on Monday reduced the import of oil derivatives by 25%, thus providing financial revenues to the federal treasury.
Al-Luaibi said in a statement that “the face of reducing the import of oil derivatives by 25%, which provides financial revenue to the Treasury Federal,” noting that “this action comes thanks to the policy of the Ministry of sound in the proper planning of the provision of oil derivatives to citizens and ministries and government facilities and companies and factories of the private sector and others.”
“A number of refineries that were destroyed by the terrorist gangs have been rehabilitated and the resumption of production has contributed to the addition of additional quantities of national production, as well as the addition of a number of production units to the refineries of the south and center,” he said.
“The achievement of self-sufficiency in the production of liquid gas has had a significant impact in reducing the proportion of imports by covering a large part of consumption in some facilities and compensated with liquid gas. Moreover, the operation of production units in modern refineries and Chinese and Qayara and Kirkuk had a role in Increase the production of oil derivatives. ”
The ministry has announced earlier on major investment projects in the liquidation sector, including Kirkuk refinery and refinery Maysan, Nasiriyah, Faw, Anbar, Nineveh and others contribute to raising the capacity of production of oil derivatives in the country, as well as the ministry has plans and projects to establish refineries outside the country for the benefit of Iraq.