Baghdad: The Prime Minister’s Media Office announced in a statement today that Iraq has increased its refining capacity to 1.3 million barrels per day of petroleum products, placing the country among the highest in refining capabilities in the Arab world.

According to National Iraqi News Agency, the statement highlighted Iraq’s ongoing efforts to expand its refining infrastructure, with a target set to reach 1.65 million barrels per day by March 30, 2025, as announced by Prime Minister Mohammed Shia Al-Sudani. This strategic development is expected to cover the country’s full domestic consumption of petroleum products, which was approximately 1.1 million barrels per day in 2024. The expansion aims to bring Iraq closer to achieving self-sufficiency.

The statement outlined several anticipated benefits of this development, including a reduction in the cost of imported petroleum products to the lowest level in decades and saving billions of dollars in foreign currency annually. Additionally, it is expected to strengthen the trade balance and enable the export of surplus products in the near future. This initiative is also set to create new job opportunities in the energy sector and related industries, improve fuel quality according to international standards, and reduce carbon emissions and environmental pollution.

Furthermore, the achievement is seen as a reflection of the government’s success in implementing its strategy to diversify revenue sources, strengthen sustainable economic development, and ensure stable petroleum product prices for citizens. The Ministry of Oil has also announced plans to begin exporting gas oil and aviation fuel once self-sufficiency in these products is achieved.