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Iraq intends to increase its oil export capacity

 Last Update: 2022-12-29
 Source: Internet
 Author: User

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Recently, Mohammed Sutton, Iraq's representative to OPEC and deputy director-general of the state-owned oil marketing company SOMO, said that Iraq plans to increase the oil export capacity of its southern ports from 2023, and by 2025, it will increase by 1 million ~ 1.
5 million barrels per day
compared with the current export capacity.

Sutton said the project involved the rehabilitation of Khor Al in the south Amaya Port and Marine Pipeline
.
In October, ports in southern Iraq exported 3.
293 million barrels
per day, according to the Iraqi Ministry of Oil.
In 2023, the daily export capacity of the southern port will increase by 150,000~250,000 barrels, and will continue to grow
in 2024 and 2025.
Sutton said the production cuts decided by OPEC and its allies in October would not affect Iraq's oil exports
.
So far this year, oil sales in Iraq have averaged $97 per barrel
.

According to Sutton, the country's oil ministry is also moving forward with plans
to increase oil production to 5 million to 5.
5 million barrels per day by 2028.

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