By John Lee.
Iraq's fourth international oil, gas and licensing rounds conference has opened in Baghdad, with the Ministry of Oil outlining progress on exports, refining and infrastructure over the first 100 days of the new government.
According to the Ministry of Oil, Minister Basim Muhammad Khudhair al-Abadi said oil exports had risen from around 200,000 barrels per day (bpd) at the start of the government's term to more than 3 million bpd in September. He attributed this to the efforts of ministry staff, national companies and international partners.
The minister highlighted a number of priorities and developments:
- Signing of an Iraq-Turkey agreement to reactivate the northern export route and strengthen export security
- A strategic pipeline project with a consortium comprising Chevron, US company TI Capital, and Qatari company UCC, linking Basra to Fishkhabur with a branch towards Baniyas in Syria
- Agreements signed during a visit to the United States covering field development, exploration blocks and oil infrastructure
- Successful negotiations with Japan's JGC to return to Iraq and resume work on a fluid catalytic cracking (FCC) project at the southern refineries
- Securing petroleum products and logistics across all provinces during the Arbaeen pilgrimage period of approximately 60 days
Al-Abadi said the ministry's priorities for the coming period include increasing production and export rates, diversifying export routes, developing refining capacity, reducing gas flaring and monetising associated gas, reducing dependence on imported petroleum products, and expanding the role of Iraqi companies.
(Source: Ministry of Oil)
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