Iraq Plans to Completely Halt Oil Product Imports

Iraq is set to abandon the import of petroleum products in 2024. This was announced by Assem Jihad, the official spokesperson of the Iraqi Ministry of Oil, to RIA Novosti.

Jihad noted that the country will rely more on local production in 2024, and as several oil refining plants begin operations, the level of oil product imports will be reduced until it is completely halted.

Currently, Iraq imports petroleum products, including refined gasoline, to fill the deficit in the domestic market. Iraq holds the world's third-largest reserves of hydrocarbons and ranks among the leading oil-producing countries with the second-largest proven crude oil reserves globally, amounting to 112 billion barrels.