Local
During his parliamentary session on Sunday, Oil Minister Basim Mohammed Khudair affirmed that the fundamental solution to the current gasoline crisis lies in securing additional shipments of this vital material. This statement comes amidst ongoing challenges facing the energy sector and increasing domestic demand. The Minister highlighted a significant increase in the nation's export capacity. He noted that oil exports were capped at 200,000 barrels per day when he took office due to war conditions in the Gulf region. Currently, through sustained efforts, the Ministry has successfully raised these volumes to exceed 4 million barrels of oil daily, encompassing the transportation of quantities from Kirkuk Governorate to Turkey's Ceyhan port. Addressing local needs, Khudair explained that current derivatives production is 37 million liters per day. Despite this figure, which includes a 4 million liter increase to help meet the growing demand exacerbating the crisis, a deficit remains. He attributed this production-consumption gap to difficulties in importing gasoline under wartime conditions, recalling that the strategic reserve stood at 350 million liters. The Minister stressed that an additional 5 million liters of gasoline per day are required to bridge the shortfall between refinery output and local consumption. Consequently, the Oil Minister emphasized that importing additional gasoline shipments during the current year is an immediate solution. The Ministry is actively pursuing this by engaging with relevant entities in several countries to secure transport, particularly given the challenges from the Strait of Hormuz closure. He also underscored the importance of completing the FCC unit maintenance in Basra, in tandem with continued gasoline imports. The Minister concluded by outlining the Ministry's efforts to attract investment companies, aiming to overcome obstacles and establish sustainable solutions to the crisis.
