Baghdad (Agencies): The Iraqi Deputy Oil Minister for Refining Affairs, Hamid Younis, revealed on Tuesday that jet fuel exports from Iraqi ports have started.
Younis said in a statement that daily volumes of jet fuel range between 800 and 1,000 tons, noting that the fuel being shipped complies with international requirements, the Iraqi News Agency (INA) reported.
The Iraqi official stated that the step demonstrates the potential for growth in the country’s oil sector and would help to strengthen Iraq’s international role among countries that produce and sell oil and its byproducts.
The export of oil derivatives contributes largely to the financial revenues generated from the oil sector, which significantly supports the country’s economy.
Iraq’s oil refineries produce different oil derivatives, including red diesel, white oil, jet fuel, sulfur, and asphalt, which are characterized by high purity.
Last June, during the inauguration of a high-octane gasoline isomerization unit in the Basra Refinery, the Iraqi Prime Minister, Mohammed Shia Al-Sudani, explained that the project will help Iraq cover its needs for oil derivatives and stop the import of petroleum products.
The Iraqi government plans to achieve self-sufficiency in oil derivatives, increase the refining capacity of petroleum products, and improve their quality.
In mid-May, Iraq’s Southern Refineries Company signed a contract with China National Chemical Engineering Company (CNCEC) for the construction of the Al-Faw Investment Refinery project.
With a capacity of 300,000 barrels per day, the refinery will meet all environmental regulations worldwide and utilize cutting-edge technology to produce oil derivatives for both domestic and international markets.
The project will be carried out in two stages. The first will involve refining operations, while the second will involve the construction of a three million-ton-per-year petrochemical complex.