Iraq plans to start expanding oil export capacity from 2023

    WORLD  28 November 2022 - 14:03

    Iraq, OPEC’s second largest producer, plans to start increasing oil export capacity from its southern ports from next year to add a total of 1 million to 1.5 million barrels a day by 2025, according to its OPEC delegate.

    The project involves rehabilitating the southern Khor Al-Amaya port and marine pipelines, Mohammed Saadoon, Iraq’s national representative at OPEC and a deputy director general of the state-run oil marketing company known as SOMO, said in an interview on state-run Iraqiya TV, Bloomberg reported on November 27.

    Export capacity from southern ports is due to increase between 150,000-250,000 barrels a day from next year, he said. Iraq exported 3.293 million barrels a day from its southern ports in October, according to the oil ministry.

    Iraq is trying to boost revenue from oil and entice global companies to work in the country after decades of turmoil marked by wars, sanctions and militant attacks. The output cuts decided by the Organization of Petroleum Exporting Countries and their allies last month won’t affect Iraq’s oil exports, Saadoon said.

    Iraq’s oil sales price has averaged $97 a barrel so far this year, he said.

    The oil ministry is also pursuing plans to boost oil production to 5 million-5.5 million barrels a day by 2028, Saadoon said. The country produces 4.652 million barrels a day, Prime Minister Mohammed Shia Al-Sudani said on November 12.

    Caliber.Az

    Subscribe to our Telegram channel


Read also

Ukraine, Russia swap prisoners; bodies of British volunteers returned

04 February 2023 - 17:15

US, allies denounce Iran’s ‘inadequate’ response to IAEA report

04 February 2023 - 19:02

American volunteer aid worker killed in Bakhmut while helping Ukrainian civilians

04 February 2023 - 14:33

Portugal refuses to send German-made Leopard 2 tanks to Ukraine

04 February 2023 - 14:43

Ukraine announces early arrival of Leopard, Challenger and Abrams tanks Defence minister's statement

04 February 2023 - 12:50

US former treasury secretary sees risk of ‘sudden stop’ in economy after jobs surge

04 February 2023 - 16:53
ADVERTS
Latest news

    UK preparing to proscribe Wagner Group as terrorist organisation

    04 February 2023 - 20:59

    Iranian director Jafar Panahi released from jail after going on hunger strike

    04 February 2023 - 20:03

    US, allies denounce Iran’s ‘inadequate’ response to IAEA report

    04 February 2023 - 19:02

    UK’s ambassador to Azerbaijan visits Ateshgah Temple

    04 February 2023 - 17:58

    Azerbaijan, Montenegro sign agreement on air communication

    04 February 2023 - 17:42

    International travelers from 12 countries leave for Fuzuli

    04 February 2023 - 17:29

    Ukraine, Russia swap prisoners; bodies of British volunteers returned

    04 February 2023 - 17:15

    UK’s traveler: Khankendi-Lachin road - open for movement

    04 February 2023 - 17:03

    US former treasury secretary sees risk of ‘sudden stop’ in economy after jobs surge

    04 February 2023 - 16:53

    Traveler from Wales presents gifts to children of families living in Shusha

    PHOTO

    04 February 2023 - 16:40

    Reuters: Indian refiners pay traders in dirhams for Russian oil

    04 February 2023 - 16:28

    “Israel supports Azerbaijan and has already taken Iran down the peg"

    Alexander Shapiro Suliman's standpoint

    04 February 2023 - 16:13

    Intergovernmental agreement between Azerbaijan, Türkiye and Turkmenistan approved

    04 February 2023 - 16:00

    Trafigura: ‘Shadow Fleet’ of tankers hauling Russian oil swells to 600 ships

    04 February 2023 - 15:46

    International travelers enjoy Jidir plain view in Shusha

    04 February 2023 - 15:32

    Cristiano Ronaldo scores his first goal for new club Al Nassr

    04 February 2023 - 15:20

    Minister: Azerbaijan exports 600 million cubic metres of gas to Bulgaria in 2022

    04 February 2023 - 15:07

    Turkish Airlines cancels 238 flights due to weather conditions

    04 February 2023 - 14:55

    Portugal refuses to send German-made Leopard 2 tanks to Ukraine

    04 February 2023 - 14:43

    American volunteer aid worker killed in Bakhmut while helping Ukrainian civilians

    04 February 2023 - 14:33

    Expert: Attack on Azerbaijan’s embassy in Iran should serve as wakeup call

    04 February 2023 - 14:23

    Ex-justice minister Zeynalyan may become Armenia's ombudsman

    04 February 2023 - 14:10

    Training course graduates get certificates in Azerbaijan

    PHOTO/VIDEO

    04 February 2023 - 13:57

    International travelers from 12 countries arrive at rally site on Khankandi-Lachin road

    04 February 2023 - 13:42

    Ukraine to extend martial law, mobilisation for 90 days

    04 February 2023 - 13:30

    Türkiye to launch GOKDOGAN, BOZDOGAN missiles from onshore, offshore platforms

    PHOTO

    04 February 2023 - 13:24

    Türkiye, Indonesia sign military cooperation agreement in Ankara

    04 February 2023 - 13:17

    Azerbaijan's ambassador to Mexico exposes Armenian lies

    04 February 2023 - 13:03

    Ukraine announces early arrival of Leopard, Challenger and Abrams tanks

    Defence minister's statement

    04 February 2023 - 12:50

    Suspected supporter of PKK terrorist group detained in Sweden

    04 February 2023 - 12:38

    Gibraltar accuses Spain of 'gross violation of sovereignty' over customs operation

    04 February 2023 - 12:26

    German traveler: Visit to liberated Azerbaijani lands - unique chance

    04 February 2023 - 12:16

    bp eyes to commission three more wells at Shah Deniz

    04 February 2023 - 12:02

    Ukraine claims Russian death toll rises to more than 130,000

    04 February 2023 - 11:51

    Azerbaijan performs practical exercises on fire training

    VIDEO

    04 February 2023 - 11:39

    Azerbaijani border guards thwart another drug smuggling from Iran

    PHOTO

    04 February 2023 - 11:29

    ISW: Russia perpetuates war in Ukraine as direct threat to its security

    04 February 2023 - 11:16

    US, EU, G7 and Australia announce new price cap on Russian petroleum products

    04 February 2023 - 11:02

    Organisation of Turkic States condemns burning of Quran in Sweden, Denmark

    04 February 2023 - 10:51

    Top US diplomat slams 'unacceptable' China balloon

    04 February 2023 - 10:42

    International travelers from UK arrive in Karabakh

    04 February 2023 - 10:32

    France, Italy ready to deliver SAMP/T anti-missile system to Ukraine

    04 February 2023 - 10:20

    Organisation of Turkic States, International Crisis Group discuss global crisis issues

    04 February 2023 - 10:11

    Eco-activists still active on 55th day of rally on Khankendi-Lachin road

    04 February 2023 - 09:54

    Moldova hopes to receive gas from Azerbaijan through Romania

    04 February 2023 - 09:42

All news