Economy News – Baghdad
The Ministry of Oil has disclosed its projections for oil derivative sales for the year 2024.
Hussein Talib, the General Manager of the General Company for the Distribution of Oil Derivatives within the Ministry, reported that the company has observed a notable increase in its annual fuel sales, primarily attributed to the implementation of electronic automation in its operations. This transition from paper to electronic payment processes in distribution outlets, along with enhancements through complementary services, has led to a rise in the sales of oil products that meet standard specifications. Furthermore, the contribution of the private sector to distribution efforts has been strengthened, aiming to deliver superior services to both citizens and various state departments, as well as entities within the private sector. Talib highlighted the year-on-year improvement in various operational aspects, particularly inspection activities, which have seen a doubling in sales, carrier productivity, LPG consumption, and overall vehicle fuel use.
He further elaborated that the total sales for the previous year included approximately 11.5 billion liters of various types of gasoline—normal, heavy, and premium—as well as 154 million liters of aircraft fuel designated for both civil and military use.
Regarding distribution company productivity, Milad Rashid, the Director of the Transport Authority, revealed that the annual output for transferring oil derivatives across all governorates reached approximately one billion and 104 million cubic meters over the past year.
In terms of liquefied petroleum gas (LPG) supply for vehicles, Falah Hashem, the Director of the Processing Body, noted a significant rise in the number of operational government and private outlets supplying liquid gas. This includes 53 stations affiliated with the gas filling company. He mentioned that the total consumption of liquefied gas from all distribution and gas packing outlets throughout Iraq during 2024 exceeded 327 million liters, which reflects the growing demand among citizens for liquid gas services.
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