We are very excited to receive a statement from Minister of Oil, H.E. Hayan Abdel Ghani, emphasised the importance of crude oil projects in achieving this goal and there is a comprehensive plan this year to step up and accelerate the implementation of strategic projects, covering oil production and extraction, refining, gas, renewable, and infrastructure. H.E. Ghani elaborated that the development of oilfields is projected to increase Iraq’s crude output by over one million barrels per day to 6 million barrels per day. Additionally, gas projects awarded in the past two years to global giants are expected to contribute nearly two million cubic feet per day. The Minister also noted significant progress in refining expansions, which have substantially increased Iraq’s production capacity. With these new projects, Iraq, a prominent OPEC member, aims to cease all imports of refined products, marking a major step towards self-reliance in the energy sector.
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