Iraq’s oil minister, Ihsan Ismaael, said that Iraq is set to increase its oil export capacity to 6 million barrels of oil per day (mmbbl/d) up from the country’s current levels of 3.8 mmbbl/d, according to S&P global.
Ismaael, who conducted an interview with Media Network Television, laid out ambitious plans for Iraq to target production capacity of 7 mmbbl/d, to stop gas flaring, and stop fuel imports from Iran by 2025.
Furthermore, the country has also implemented nearly 80% of all gas projects that will help reduce gas flaring and imports from Tehran. Ismaael added, “All gas projects are currently under implementation, except for Ar Ratawi, which is pending tendering.”
However, there was less positive news in the form of Ar Ratawi refinery, the country’s biggest gas project, which had been delayed due to a lack of financing.