The economic expert, Safwan Qusay, confirmed on Tuesday the possibility of Iraq entering the field of investing in oil derivatives and delivering its derivatives to various countries of the world and avoiding any fluctuation in global oil prices.
Qusay told Al-Maalouma, “Iraq has the potential to reach self-sufficiency in fuel, especially gasoline, and shift to investing in the management of oil derivatives at the storage level.”
He added, “The shift to the aforementioned investment guarantees Iraq a realized revenue, so that in the event of a decline in global oil prices, Iraq can invest in the available stock of derivatives with the aim of not reflecting price fluctuations on import operations and thus ensuring that the oil products marketing company is not harmed.”
He pointed out that “achieving self-sufficiency in fuel and the shift towards investment and export of derivatives requires the development of oil refineries and the establishment of new refineries that guarantee Iraq’s shift towards investment and export of derivatives.”
almaalomah.me
