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By John Lee.
Iraq’s Minister of Oil has opened two plants for improving gasoline and hydrogen production at the Al-Dora refinery in Baghdad.
The new gasoline line will increase capacity from 3 million liters per day to 4 million liters per day, and is part of a program to reduce fuel imports by 50 percent by the end of this year.
(Source: Ministry of Oil)
The post Increased Capacity at Dora Refinery first appeared on Iraq Business News.
From Middle East Monitor, under a Creative Commons licence. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
Iraq reduces energy imports from Iran by 75%
Iraq has reduced its electricity and gas imports from Iran by 75 per cent after achieving a strong level of self-sufficiency in its own energy production, Al Arab news website reported on Monday.
A spokesman for the Ministry of Electricity, Ahmed Al-Abadi, said that the current electricity production in Iraq covers most of the country’s needs.
He explained that most governorates have electricity supplies all day, every day, apart from Salahuddin and Ninawa, which have power for around 20 hours per day.
Al-Abadi noted that the improvement in electricity supply is largely down to the new electricity plants coming into operation.
Iraq, he added, uses 13,400 Megawatts, of which 4,500 Megawatts used to be imported from Iran.
By John Lee.
Iraq and Oman have signed a memorandum of understanding (MoU) on cooperation in the oil and gas sector.
Both sides will investigate the construction of oil storage facilities in both countries, the export crude oil to Oman, and the import of oil products back into Iraq.
They will also consider building a shared oil refinery in Oman.
(Source: Ministry of Oil)
By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
Iran questions Iraq’s promise to import oil despite sanctions
Iran and Iraq have quite different views of their relationship status, with Tehran claiming it’s been jilted and Baghdad declaring it’s being faithful.
Iranian Minister of Petroleum Bijan Zangeneh (pictured) surprised Iraqi officials Feb. 7 when he very publicly expressed dissatisfaction with Iraq “reversing some oil agreements, and refusing to invest in the border oil fields and to pay Iran its [$2 billion in] debts.”
He indicated that “Baghdad’s commitment to the US sanctions has prompted [Iraq] to revoke minor agreements, such as the Kirkuk deal, under which we traded 11,000 barrels of oil a day.”
Iraq ended that deal in November under US pressure. The United States has imposed sanctions on Tehran and countries that defy those sanctions by continuing to do business with Iran.
Zangeneh’s remarks contradict the outcome of his meeting in Baghdad with Iraqi Oil Minister Thamir Ghadhban last month, when they agreed that Iraq would import gas from Iran and develop some border fields.
By John Lee.
Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] has said that Iraq will reduce imports of petroleum products by 25 percent, as the country restarts production at refineries that were damaged by the Islamic State group (IS, Daesh, ISIS, ISIL).
He said that restarting production at the Seeniya, Hadeetha, Qayara and Kirkuk refineries has already contributed to an increase in the production of oil derivatives.
The Ministry of Oil has also announced big investment projects in the refining sector, including projects in Kirkuk, Maysan, Nasiriya, Faw, Anbar and Ninawa.
(Source: Ministry of Oil)
By John Lee.
A plan to export Iraqi crude oil by truck to Iran has reportedly been postponed due to security concerns.
Under the oil-swap agreement, Iraq was to export 60,000 bpd of crude oil by truck from Kirkuk to Iran’s Kermanshah refinery (pictured), and ship back refined Iranian oil for southern Iraq.
Hamid Hosseini, the Iranian secretary-general of the Iran-Iraq Chamber of Commerce, said Iran does not have X-ray machines to scan the trucks coming from Iraq, adding that Iran is in talks with Iraq to use their X-ray facilities.
(Sources: Xinhua, Rudaw)
By John Lee.
Sources have told Reuters that China’s state-run Zhenhua Oil will supply diesel (500 parts per million (ppm) sulphur) to Iraq’s State Oil Marketing Organization (SOMO) through a term contract for the first time.
It will supply 600,000 tonnes of the 2.37 million tonnes sought by SOMO in a tender for delivery in the 2018 calendar year.
The company is part of defence conglomerate China North Industries Group Corp (NORINCO).
BB Energy, Litasco (the international marketing and trading arm of Russia’s Lukoil) and Lima Energy (a joint venture between Litasco and SOMO) will also supply about 25 percent each.
(Source: Reuters)