Economic and Environmental Effects of Oil Refining and Industry Empirical Research at South Refineries Company (State Company)


Iraq has a huge oil reserves ( installed and potential ) experts estimates it by (500) Billions / Barrel، Iraq economic depends heavily on oil revenues which considered the main source for financing the development of economic sectors ، but this oil production capacity is still disproportionate with huge reserves owned by Iraq، where the oil sector in Iraq faced a great damages because of the wars and economic sanctions which reduces production capacities and decline in the performance of the oil sector ، Iraq could not rise his productions even to the level of production pre – Iraq- Iran war ، which a is reflected on the amount of the exports and revenues، as well as the Iraqi refineries thought the limited of production but it didn't kept safe from damage which hit's its basic structure and stops a lot of production capacity and lose its ability to follow up the technical development and made its products were not corresponding to international specifications، and drifted away from environments terms to become a source of pollution. So، to develop the oil industry a package of investments that Iraq could not provide in short or middle time ، and in order to solve that there must be a local and foreign capitals to contribute in the development of oil production and achieve the economic efficiency in exploitation of oil wealth. But the efforts should not be for developing of production and exportation only، it should be on the variety of oil exportations that depends on the variety of oil productions ، to include these exports petroleum products instead of crude oil to maximize economic values of oil resources.