Iraqi MP: Iraq importing oil derivatives is shameful

Shafaq News/ Iraq's parliamentary Oil, Gas, and Natural Resources Committee head, Hibat Al-Halbousi, deemed it "shameful" for Iraq to import oil derivatives despite being OPEC's second-largest oil exporter.

Speaking at the inauguration ceremony of the Baiji refinery, Al-Halbousi noted that Iraq imports oil derivatives worth $5 billion annually, which "tarnishes the country's reputation as the second-largest oil source after Saudi Arabia in OPEC."

"The Iraqi government is striving to halt this money waste," he said.

Al-Halbousi pointed out that the oil sector "has suffered significantly from delays and mismanagement in recent years, constituting a form of corruption," affirming that the oil sector significantly impacts securing the country's need for oil derivatives and subsequently pursuing exports."

Notably, Baiji refinery, the largest in Iraq, with a base production capacity of 310,000 barrels per day, had been closed for over ten years, and its operations were interrupted when ISIS occupied it in May 2014.