Iraq's Prime Minister, Mohammed Shia al-Sudani, hailed the reopening of the Baiji oil refinery on February 23, marking a significant milestone in the nation's journey toward energy independence.
Al-Sudani emphasized that the achievement brings Iraq closer to fulfilling its entire demand for oil derivatives by mid-next year, projecting substantial savings that can be redirected towards bolstering the economy and enhancing services for Iraqi citizens.
The refurbished Baiji refinery is slated to process 150,000 barrels of crude oil daily, contributing to Iraq's plans for investment projects domestically and internationally, particularly in the petrochemical and manufacturing sectors.
The reopening of the Al-Shamal unit within the Baiji refinery marks a decade since its capture by ISIS forces, which inflicted severe damage during the subsequent conflicts as Iraqi troops sought to reclaim control.
Despite Iraq's status as a major oil producer, limited refining capacity has necessitated significant fuel imports from neighboring countries. Sanctions restricting Iraqi banks from transactions with Iran have exacerbated the situation, leading to fuel shortages and electricity challenges within Iraq.
