What's Happening?
Iraq has launched a Fluid Catalytic Cracking (FCC) unit at the South Refineries Company, which is expected to produce 4,200 cubic meters of high-octane gasoline for the domestic market. This development
is part of Iraq's strategy to achieve self-sufficiency in refined petroleum products. The Iraqi Ministry of Oil announced that the unit began operations on January 31, 2026. This move aligns with Iraq's broader goal to export oil derivatives by 2030, following a halt in fuel imports after achieving self-sufficiency in gasoline, diesel, and kerosene.
Why It's Important?
Iraq's push towards self-sufficiency in fuel production is crucial for its economic stability and independence. By reducing reliance on imports, Iraq can better manage its resources and potentially increase its export capacity, contributing to national revenue. This development also addresses challenges such as security threats and political instability that have historically impacted Iraq's energy sector. Achieving self-sufficiency could lead to more stable fuel prices and availability within the country.
