Prime Highlights
- Iraq signed energy-sector agreements worth around $200 billion during Prime Minister Ali Al-Zaidi’s visit to the United States.
- Oil Minister Bassem Mohammed Khudair said Iraq is engaged in serious talks with OPEC to increase its oil export quota.
Key Facts
- Iraq’s total oil production capacity has exceeded 4.8 million barrels per day, with 22 international companies currently operating in the country’s oil fields.
- Iraq aims to achieve self-sufficiency in natural gas by 2030 and has already achieved self-sufficiency in gas oil and kerosene.
Background
Iraqi Oil Minister Bassem Mohammed Khudair said energy-sector contracts and agreements signed in Washington during Prime Minister Ali Al-Zaidi’s visit to the United States amounted to around $200 billion. He said the deals are expected to create jobs, increase Iraq’s oil and gas reserves and production, and deliver broader social benefits, including scholarship opportunities.
Khudair said Iraq’s total oil production capacity has exceeded 4.8 million barrels per day, forming part of a strategic vision to develop the country’s oil and gas sectors. He added that the newly signed agreements would help boost oil production further and generate employment opportunities.
The minister said Iraq remains on track to achieve self-sufficiency in natural gas by 2030. He also revealed that the government is holding serious and constructive talks with OPEC aimed at increasing the country’s oil export quota.
Speaking on the Al-Mashhad programme, broadcast by Al-Iraqiya News, Khudair said Iraq signed seven key agreements during Al-Zaidi’s visit to the United States. He noted that 22 international companies currently operate in Iraq’s oil fields.
He added that Iraq has achieved self-sufficiency in gas, oil, and kerosene, and currently produces around 30 million litres of gasoline daily, though he acknowledged that challenges remain in the country’s fuel distribution mechanisms.
On the OPEC discussions, Khudair said the government remains committed to securing the export share Iraq deserves, taking into account the exceptional circumstances the country has endured due to wars and infrastructure destruction.
