Hamid Younes, Iraqi Deputy Oil Minister for Refining Affairs, says his country is now self-sufficient in middle distillates (gasoil/diesel and kerosene). Speaking to MEES this week (MEES, 16 February), he says that the country’s 2024 oil products imports will be limited to gasoline to the tune of around 44,000 b/d. This implies a $1bn saving on fuel import costs.
A source at state-marketer Somo confirms that gasoil and kerosene imports have been suspended for 2024, and Kpler data shows no gasoil/diesel imports in January; the first month with no such imports since 2018. In 2022, when mid-distillate prices soared, the two products’ combined bill hit an eye-watering $1.4bn, although last year’s bill was likely lower as prices eased. (CONTINUED - 984 WORDS)
