Iraqi Prime Minister Mohammed Shia Sudani stressed on Sunday that the country is set to declare self-sufficiency in oil derivatives within two months, leading to the halt of imports and the possibility of restoring $3.2 billion in revenue.
Sudani’s comments were part of his address at the “Al-Rafidain Forum for Dialogue 2024” in Baghdad. The forum, which kicked off under the title “Future of Mankind: Crises and Transformations,” is slated to run until Tuesday.
“Economic reform remains a top priority for the government. The true reform lies in ensuring the availability of oil derivatives, which currently consumes billions of dollars,” Sudani said.
“By reopening the Karbala refinery (south) and the Biji refinery (north), we’ve managed to bring funds back into the state treasury,” he said.
Iraq currently produces over 4 million barrels of crude oil per day. However, it imports approximately 25 million liters of gas, gasoline, and white oil daily, along with natural gas.
On February 23, the Iraqi Prime Minister reopened the northern refinery in Beji district of Salahaddin province, following a decade of inactivity.
During the 2014 conflict with ISIS, the northern refinery in Beji district was severely damaged due to clashes between the Iraqi army and ISIS forces.
