Economist Raises Concerns Over Backwardness in Iraqi Oil Sector
Economist Nabil Al-Marsoumi has expressed serious concerns regarding the "significant backwardness" within the Iraqi oil sector, highlighting notable inconsistencies in the country’s policy on oil imports and exports.
In a recent analysis, Al-Marsoumi reported that Iraq produced approximately 12.910 million tons of oil products in the last assessment period, with black oil accounting for 11.548 million tons, representing about 90% of the total oil exports.
Contrasting this figure, Iraq’s imports of gasoline reached around 2.483 million tons, a statistic that Al-Marsoumi cites as indicative of the "serious backwardness" plaguing the oil refining sector.
He elaborated that black oil constitutes roughly half of the output from Iraqi refineries, despite its global market prices being lower than those of crude oil.
Al-Marsoumi pointed out the government’s aspirations for self-sufficiency in gasoline production due to the inauguration of the Karbala refinery. Unfortunately, these ambitions have not been realized, attributed to various operational challenges faced by the refinery and additional underlying issues.
This analysis underscores critical areas requiring attention in Iraq’s oil sector to enhance its efficiency and competitiveness on both domestic and international fronts.
