Member of the Parliamentary Oil and Energy Committee for the State of Law Coalition, Muhannad Al-Khazraji, expressed his surprise at Iraq’s continued import of oil derivatives, indicating that the value of the importer reached $5 billion in the past year 2022.

Al-Khazraji said in a statement, “Iraq is an oil-producing country, and it must be at the top of its priorities to raise the value of production from refined materials through developing refineries and increasing their production capacities.”

He explained that “Iraq’s import of gasoline, kerosene and gas oil amounted to $5 billion during the past year 2022, and the waste of that money must be reduced through the development of local refineries.”

Al-Khazraji pointed out, “The development of local production preserves keeping the hard currency at home by achieving self-sufficiency, and through the money that is wasted on the importer, we can develop the infrastructure of local refineries.”

Source: National Iraqi News Agency