Iraq plans to increase oil exports starting from 2023
An oil field north of Basra, Iraq. Photo: Reuters
Baghdad (IraqiNews.com) – Iraq, OPEC’s second largest producer, plans to increase oil export capacity from its southern ports starting from next year to add a total of one to 1.5 million barrels per day by 2025.
Iraq’s representative in OPEC, Saadoun Mohsen, said in a televised interview that the project includes rehabilitating the southern port of Khor Al-Amaya and the marine pipelines.
Saadoun indicated that the export capacity from the southern ports will increase between 150,000 and 250,000 barrels per day next year.
Iraq exported nearly 3.3 million barrels per day from its southern ports in October, according to the Oil Ministry.
Saadoun elaborated that the decision made last month by OPEC and its allies to reduce oil production will not affect Iraqi oil exports.
Saadoun pointed out that the average Iraqi oil sales price reached 97 USD per barrel so far this year.
The Iraqi official added that the Ministry of Oil is trying to develop plans to increase oil production to be between five and 5.5 million barrels per day by 2028.