Iraq to achieve self-sufficiency in refined fuels by year-end, Oil Minister tells IBBC
London (IraqiNews.com) – Iraq will stop importing refined white products (like gasoline and diesel) and achieve self-sufficiency by the end of 2025, potentially exporting surplus, Oil Minister Hayyan Abdul Ghani Al-Sawad announced Wednesday (June 4, 2025). Speaking at the Iraq Britain Business Council (IBBC) conference in London, he detailed significant energy sector advancements.
This milestone is driven by increased domestic refining capacity, including the Karbala refinery and expansions in Basra and northern Iraq, boosting output by 360,000 bpd. Al-Sawad also highlighted major strides in associated gas investment, with utilization rising from 53% to over 70% through projects like Basra Gas and Halfaya, and upcoming developments in Akkas and Mansouriya fields offering international partnership opportunities.
The Minister showcased the comprehensive TotalEnergies integrated project (oil, gas, solar, water injection) and progress on a major pipeline parallel to the Development Road. He emphasized Iraq's reform programs under PM Al Sudani aim to maximize resource value and foster partnerships.
'Iraq is opening up to the world with a partnership-based approach,' Al-Sawad stated, inviting quality contributions from British firms in conventional and renewable energy, citing an existing BP deal in Kirkuk.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Shafaq News
9 hours ago
- Shafaq News
Iraqi ex-adviser flags gaps in $2B gas deal, cites legal concerns
Shafaq News / A newly approved five-year gas supply contract in Iraq is under fire for alleged legal loopholes and significant financial discrepancies, according to former Prime Minister's Office adviser Hussein Al-Hanin. Al-Hanin said on Thursday that the Cabinet's deal with a gas supply company—formed just three years ago—granted the firm ten exemptions despite not meeting the legal, technical, and administrative standards of the Oil Ministry. The contract, which relies on a floating offshore platform, was finalized during the Cabinet session earlier this week. He stressed that the company's proposed price is $400M annually higher than the most competitive bids from better-established global firms such as Excelerate Energy. This discrepancy totals roughly $2B over the contract's five-year term. Al-Hanin also pointed out that the company lacks the funds to build the platform and has already received two million barrels of crude oil—worth $125M at current market prices—before any work began. 'All this happened while the Oil Minister was in London to participate in the Iraqi-British Business Council conference, and did not vote on the decision,' Al-Hanin said. The Cabinet session also approved a direct contract with the 'Carbore' consortium to deploy power-generating ships, adding 650 megawatts to offset summer peak demand. Additionally, the session greenlit the floating storage and regasification unit (FSRU) project, designed to supply 750 million cubic feet of liquefied natural gas daily to the Basmaya Power Plant.
Shafaq News
14 hours ago
- Shafaq News
Iraq's World Cup dreams: High stakes against South Korea
Shafaq News/ Iraq will host South Korea on Thursday night in a pivotal 2026 World Cup qualifier, with Basra International Stadium fully operational but fan turnout trailing expectations due to ticketing issues and Eid travel. The match, scheduled for 9:15 p.m. local time (6:15 a.m. GMT), is part of the ninth round in Asia's third qualifying stage and marks Basra's most significant sporting event since the 2023 Gulf Cup. Director of Basra Sports City Lutfi al-Jazaeri confirmed that upgrades to lighting, sound, and access systems had been completed. Additional parking for 8,000 vehicles was arranged near the venue. 'All components, from entrances to transport coordination, were finalized to ensure seamless movement,' al-Jazaeri stated, adding that the South Korean visitors expressed strong approval of the infrastructure and event planning. 'They viewed the complex as a modern facility and a reflection of Iraq's growing sports capabilities,' he said. Despite the preparations, only 40,000 tickets had been sold by Thursday afternoon. Organizers attributed the drop to a now-revoked policy bundling tickets with team shirts priced at 10,000 dinars ($7.5). 'The additional cost discouraged buyers. Even after removing the requirement, sales remained below expectations,' said Ghalib al-Zamili, a member of the organizing committee, also citing the Eid holiday, as many families are engaged in travel or celebrations.
Shafaq News
17 hours ago
- Shafaq News
Iraq fast-tracks Chinese-led gas project to curb energy imports
Shafaq News/ The Iraqi Ministry of Oil has reached an agreement with a Chinese energy firm to accelerate the development of the al-Mansouriya gas field in Diyala province—part of efforts to reduce reliance on imported fuel, a member of Iraq's Parliamentary Finance Committee revealed on Thursday. MP Mudar al-Karawi told Shafaq News Agency that the ministry has signed a revised deal with China's Jereh Group and state-owned PetroIraq to shorten the project timeline from 42 months to just 20 months. 'The first phase will produce 100 million standard cubic feet of gas per day (Mscfd), gradually increasing to 300 Mscfd,' al-Karawi explained. Located in eastern Iraq near the Iranian border, the al-Mansouriya gas field is expected to play a vital role in fueling domestic power stations and trimming costly natural gas imports. Iraq currently imports gas from Iran to run much of its electricity sector. 'The locally produced gas will help reduce dependence on imported supplies and save Iraq millions of dollars annually,' al-Karawi noted. The development is part of a wider national strategy announced by Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul-Ghani last October. The minister unveiled multiple gas and oil deals, including complementary licensing rounds, expected to boost production by over 850 Mscfd and 750,000 barrels of oil per day. The original contract for al-Mansouriya was signed on October 31, 2024, under the supervision of the Oil Ministry, targeting a full production capacity of 300 Mscfd. According to data from Global Fire Power, Iraq consumed over 19 billion cubic meters of natural gas in 2025, ranking 38th globally. The country's fast-growing energy demands continue to strain its power infrastructure, especially during peak summer months.
