Iraq’s Oil Derivative Exports Schedule for Q4 2024
The Sumo Oil Marketing Company has disclosed a significant milestone in Iraq’s oil export capabilities, announcing the shipment of over 4 million tons of oil derivatives during the fourth quarter of 2024.
Export Overview
From October to December 2024, Iraq successfully exported 4,465,749 tons of oil derivatives. This quarter marks a substantial increase in comparison to the same timeframe in 2023. Notably, fuel oil exports reached 4,216,145 tons, indicating a sharp rise from the prior year’s figures, which stood at 2,796,606 tons.
Additional Export Categories
In addition to fuel oil, Iraq also reported the export of 194,637 tons of other oil derivatives and 54,967 tons of aircraft fuel. This diverse range of products highlights Iraq’s strategic position within the global oil market and its adaptability to varying demands.
Industry Implications
Puffation, as an intermediate material, plays a crucial role in the petrochemical sector, particularly in the manufacturing of ethylene and aromatic products or in the refinement processes leading to gasoline production. This indicates Iraq’s broader participation not only in crude oil markets but also in more complex chemical production pathways.
In summary, Iraq’s oil derivative exports for the fourth quarter of 2024 underscore the country’s growing capacity and strategic focus on both domestic and international markets, expanding its role in the global energy landscape.
