A member of the Parliamentary Oil, Gas and Natural Resources Committee, MP Zainab Al-Moussawi, revealed that Iraq exports 180,000 barrels per day of black oil, while the remaining amount is consumed internally.
Al-Moussawi said, in a press statement today, Thursday, that “Fuel oil, which is locally called “black oil”, is one of the parts resulting from the process of refining crude oil, and it is used as a very cheap fuel that can be burned in industrial furnaces or generation heat boilers or the generation of electrical or moving power”.
She added, “This type of cheap fuel, its value is equivalent to half the value of crude oil, and that Iraq usually sells it near the waters of the Arabian Gulf, as fuel for tankers,” noting that “the exploitation of black oil in barter and export maximizes the state’s finance resources and also contributes to the development of oil policy in Iraq.
Source: National Iraqi News Agency