The Iraqi Ministry of Oil announced that the amount of oil exports from the country has currently reached 4 million barrels per day. This increase in oil exports comes at a time when the average oil exports from Iraq in September were 2.6 million barrels. This change reflects Iraq's capability in managing the existing challenges in oil exports.
Maritime Challenges and the Strait of Hormuz Crisis
Bassam Mohammed Khazir, the Iraqi Minister of Oil, mentioned a month ago that maritime challenges and the Strait of Hormuz crisis are the main obstacles to oil exports, emphasizing that the Ministry of Oil has been able to secure oil production despite these challenges. He also pointed out that solutions need to be found to overcome these crises.
Read more: Pakistan coordinated with Iran to pass Qatar's gas shipment through the Strait of Hormuz
Oil Production and Exports from Iraq
The Iraqi Minister of Oil stated that the country is currently producing 2.7 million barrels of oil per day, with exports amounting to half of the production volume. This figure indicates Iraq's need to improve its export capacity and optimize its oil resource management. Khazir also reported discussions with Iran to facilitate Iraq's oil exports, although this initiative has not yet reached the implementation stage.
Iraq also spends significantly on gas imports and has signed contracts for investment in the gas sector with international companies. These actions reflect Iraq's efforts to enhance its energy capabilities and reduce dependence on imports.
Read more: Signing of the NGL 3100 feed gas sales contract between the National Iranian Oil Company and Petro Refinery Dehloran · Increase in energy prices led by tanker shipments in the global economy
