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Assurances that Iraq's oil production will reach 8 million barrels per day in 2027
Sunday, June 19, 2022 6:29 PM
National News Center/ Baghdad
Today, Sunday, Minister of Oil Ihsan Abdul-Jabbar Ismail confirmed that oil production will reach 8 million barrels per day during 2027, while referring to the continuation of the decisions of the Federal Court related to the region's oil.
Ismail said in a statement to a number of media outlets, followed by the National News Center, that
"Iraq is working to increase its capabilities to raise oil capacity, and
we have large projects to increase production, and
we are committed to reaching peak production, which is 8 million barrels by the end of 2027," noting that
"currently we have projects underway." Achievement in all oil fields, especially in Basra Governorate.”
He pointed out that
"the ministry has infrastructure projects to extend Ceylon pipelines in the sea, and
Iraq is committed to the decisions of the Organization of Petroleum Exporting Countries and is committed to the policy of working in it, because producers must provide oil to all investors."
On the emergency support law, Ismail explained, "The emergency support law did not meet production costs, and
the Oil Ministry registered its protest with the Council of Ministers about that."
And on the companies operating in the Kurdistan region, the Minister of Oil confirmed:
"We are implementing the decision of the Federal Court and all the legal and constitutional legal procedures that were able to implement this decision, and
we will proceed with this step and other steps."
He added,
"We believe in federal Iraq, the authorities of the regions and provinces, and the standard administration,
but the principle is to implement the decision of the Federal Court, and more than that is to reach standard methods in managing the entire oil wealth throughout the country."
He explained that "we are committed to our share in OPEC, and we achieve within 100% of this commitment," noting that
"the export ceiling for the whole of Iraq for the month of June will be 3 million and 800 thousand per day, and the month of July will be 3 million and 850 thousand, including Kurdistan because it is part of Iraq."
Assurances that Iraq's oil production will reach 8 million barrels per day in 2027
Sunday, June 19, 2022 6:29 PM
National News Center/ Baghdad
Today, Sunday, Minister of Oil Ihsan Abdul-Jabbar Ismail confirmed that oil production will reach 8 million barrels per day during 2027, while referring to the continuation of the decisions of the Federal Court related to the region's oil.
Ismail said in a statement to a number of media outlets, followed by the National News Center, that
"Iraq is working to increase its capabilities to raise oil capacity, and
we have large projects to increase production, and
we are committed to reaching peak production, which is 8 million barrels by the end of 2027," noting that
"currently we have projects underway." Achievement in all oil fields, especially in Basra Governorate.”
He pointed out that
"the ministry has infrastructure projects to extend Ceylon pipelines in the sea, and
Iraq is committed to the decisions of the Organization of Petroleum Exporting Countries and is committed to the policy of working in it, because producers must provide oil to all investors."
On the emergency support law, Ismail explained, "The emergency support law did not meet production costs, and
the Oil Ministry registered its protest with the Council of Ministers about that."
And on the companies operating in the Kurdistan region, the Minister of Oil confirmed:
"We are implementing the decision of the Federal Court and all the legal and constitutional legal procedures that were able to implement this decision, and
we will proceed with this step and other steps."
He added,
"We believe in federal Iraq, the authorities of the regions and provinces, and the standard administration,
but the principle is to implement the decision of the Federal Court, and more than that is to reach standard methods in managing the entire oil wealth throughout the country."
He explained that "we are committed to our share in OPEC, and we achieve within 100% of this commitment," noting that
"the export ceiling for the whole of Iraq for the month of June will be 3 million and 800 thousand per day, and the month of July will be 3 million and 850 thousand, including Kurdistan because it is part of Iraq."
