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Iraq Halts Term Diesel Supplies Amid Refinery Upgrades

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Iraq has halted imports of diesel as term deals wound down at the end of last year amid refinery upgrades, according to Bloomberg.

  • Iraq is on track for fuel self sufficiency with a designed refining capacity is 1.26mbpd and hasn’t bought diesel under long-term contracts so far in 2024, according to sources. Three spot diesel cargoes have been purchased this year, according to Vortexa.
  • Iraq is still buying gasoline under term deals, according to traders, but aims to cut imports of the fuel as early as this year.
  • Refinery upgrades including the restart of the Al-Shamal in 2024 are boosting fuel output with others expected to follow, according to the deputy oil minister for refining affairs in February.
  • Iraq imported 2.83mbbls of diesel last year and tendered to buy about 55kbpd of gasoline, with supplies from Saudi Aramco, Reliance Industries and Oman’s OQ according to Vortexa.
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Iraq has halted imports of diesel as term deals wound down at the end of last year amid refinery upgrades, according to Bloomberg.

  • Iraq is on track for fuel self sufficiency with a designed refining capacity is 1.26mbpd and hasn’t bought diesel under long-term contracts so far in 2024, according to sources. Three spot diesel cargoes have been purchased this year, according to Vortexa.
  • Iraq is still buying gasoline under term deals, according to traders, but aims to cut imports of the fuel as early as this year.
  • Refinery upgrades including the restart of the Al-Shamal in 2024 are boosting fuel output with others expected to follow, according to the deputy oil minister for refining affairs in February.
  • Iraq imported 2.83mbbls of diesel last year and tendered to buy about 55kbpd of gasoline, with supplies from Saudi Aramco, Reliance Industries and Oman’s OQ according to Vortexa.