Iraq plans to increase oil production
An Iraqi worker adjusts a valve in an oil facility. Photo: INA
Baghdad (IraqiNews.com) – The Parliamentary Oil, Gas and Natural Resources Committee revealed on Sunday that the government has drawn up plans to increase oil production to more than five million barrels per day, according to the Iraqi News Agency (INA).
Committee member Zainab Juma Al-Moussawi told INA that the committee supports the government’s directions to increase the production of crude oil and gas and to benefit from the associated gas to be used as fuel for power plants and in petrochemical industries.
The Iraqi lawmaker indicated that countries such as India, China and South Korea bought 54 percent of the crude oil produced in Iraq.
“Other countries such as Singapore, the Netherlands, Turkey, Greece, Egypt, the United States, Italy and France are also buying Iraqi crude oil,” Al-Moussawi explained.
The Iraqi MP confirmed that Iraq achieves billions of dollars from the sale of oil, which contributes to the country’s general budget in terms of both operations and investments.
Al-Moussawi added that the Iraqi parliament supports the efforts of the government to increase oil production rates to more than five million barrels per day.