Mujahid A. H. Losses of Oil Products under the occupation of ISIS

الملخص

due to the ISIS criminal gangs' occupation of North Refineries Company, it went under
sever destruction (destruction was up to 80% in some refineries,) starting from human and
infrastructure losses, up to oil produced. This study has dealt with the loss of oil products only,
because of ISIS Criminal gangs' occupation of refiners and stolen all the oil products from it.
The North Refinery Company includes - six refineries in Baiji refinery complex - and other
five external refineries in several governorates. The total production capacity of the North
Refinery Company reached 412,000 barrels per day, and the actual production of the refineries
326,650 barrels per day. The ISIS gangs theft the oil products which stored in refineries where the
value of oil products sales reached (156) billion Iraqi Dinars (IQD).
Since the Oil Products which are produced by the company are for domestic or export
consumption as reported in this research, the quantities of production were considered as daily
sales. Where the value of oil products sales reached (14,350) billion IQD per day.
Here, the magnitude of the disaster is evident in the losses of oil products. The figure above
represents the financial losses for one day only. The research showed the volume of these losses,
that lasted for more than three years and are still ongoing.
To compensate the shortage due to the occupation of the refineries and lack of production,
the Ministry of Oil imported oil products [from international market] to meet the shortfall in
domestic consumption; given that the import price is more than double the price of local products.
So, this can be considered as an added loss to the losses of oil products calculated in this research