Iraq plans to export red diesel
The Iraqi Ministry of Oil revealed on Monday that it is preparing to export red diesel after achieving self-sufficiency.
The Oil Ministry’s undersecretary for refining affairs, Hamid Al-Zubaie, said in a statement that after domestic production of red diesel met national demand, the ministry intends to export the surplus to international markets, the Iraqi News Agency (INA) reported.
Al-Zubaie also explained that in order to boost the country’s revenues from the export of oil derivatives, logistical procedures in ports are being examined in order to begin exporting red diesel.
The Iraqi Minister of Oil, Hayan Abdul-Ghani, announced recently that the refining capacity in Iraq has been increased by 360,000 barrels in one year.
Abdul-Ghani affirmed that the Oil Ministry is eager to increase the refining capacity to achieve self-sufficiency in oil derivatives and eventually transition to exporting its surplus.
The Iraqi Oil Minister commended the completion of the isomerization unit for gasoline production in the South Refineries Company with a capacity of 1,300 cubic meters per day and another unit in the Midland Refineries Company with a capacity of 750 cubic meters per day.
According to the Iraqi official, this helps to cut the amount of gasoline imported by almost 2,000 cubic meters.
