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BAGHDAD - While Iraq is planning to raise it production capacity to 2.6 million bpd this year, it's also trying to expand its market to include South Korea and Japan, too.
In December the production capacity reached 2.145m bpd up from 2.135m the previous month.
Spokesman for the Iraqi Oil Marketing Company, Hamed Ka'bi told AKnews Iraq is engaged in negotiation with SK and Japan to bring them to the circle of the countries Iraq sells its oil to.
He added the talks for this purpose have reached the final stages "and this depends on the amount of surplus production in the future and the real extent of their [SK and Japan's] demand for oil."
The negotiations are made while Iraq is hot considered any alternative channel for transferring its oil, after Iran threatened it will close Hormoz Strait through which daily 1.7m bpd of Iraqi oil are transferred.
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In December the production capacity reached 2.145m bpd up from 2.135m the previous month.
Spokesman for the Iraqi Oil Marketing Company, Hamed Ka'bi told AKnews Iraq is engaged in negotiation with SK and Japan to bring them to the circle of the countries Iraq sells its oil to.
He added the talks for this purpose have reached the final stages "and this depends on the amount of surplus production in the future and the real extent of their [SK and Japan's] demand for oil."
The negotiations are made while Iraq is hot considered any alternative channel for transferring its oil, after Iran threatened it will close Hormoz Strait through which daily 1.7m bpd of Iraqi oil are transferred.
[You must be registered and logged in to see this link.]
