Iraq’s Oil Derivative Exports Reach Over 4 Million Tons in Q4 2024
The Sumo Oil Marketing Company has reported significant developments in Iraq’s oil export landscape, revealing that the country exported more than 4 million tons of oil derivatives during the fourth quarter of 2024.
In detailed schedules provided by Sumo, Iraq’s total oil derivative exports amounted to 4,465,749 tons from October to December 2024. This marks a notable increase in export activity compared to the previous year.
Breakdown of Exports
The company highlighted the figures for different types of oil products:
- Fuel Oil: Iraq exported 4,216,145 tons of fuel oil in Q4 2024, a substantial increase from the 2,796,606 tons exported during the same period in 2023.
- Additional Materials: Iraq also exported 194,637 tons of other materials.
- Aircraft Fuel: The country further exported 54,967 tons of aircraft fuel.
The export of fuel oil is particularly critical, serving as a key component not only for domestic consumption but also as a vital resource in international markets. This material often finds its way into the petrochemical industry, where it can be used for producing ethylene or aromatic compounds, or it can be refined into gasoline through various processes.
The data reflects Iraq’s ongoing efforts to enhance its position in the global oil market, with significant exports underscoring the country’s role as a pivotal supplier of oil derivatives.
This recent surge in exports demonstrates Iraq’s strong capacity to meet international demand while positioning itself strategically in the evolving global energy landscape.
