Iraq is working to raise the export capacity of oil

Economy 10:10 PM - 2020-12-26
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The Ministry of Oil of the Iraqi Federal Government confirmed its intention to increase the export capacity to 6 million barrels per day after 2023, through the implementation of projects to develop oil deposits in Al-Faw.

 

A statement by the ministry said on Saturday, "The Undersecretary for Extraction Affairs Karim Hattab visited Al-Faw oil depots and confirmed the ministry's keenness to expedite the completion and implementation of projects to develop oil warehouses in Al-Faw district in Basra Governorate, which aim to enhance and sustain oil exports from the southern ports, indicating that "this visit comes in implementation of the directives of the Minister of Oil Ihsan Abdul-Jabbar to follow up on the mega projects that include the construction of (24) tanks with a capacity of (58) thousand aimed at raising the export capacity of the current system from (3.5) million barrels to (6) million barrels per day after 2023. "

 

He added that “Hattab pointed out the need to differentiate between the available export capacity of the export system and the actual export determined by the ministry in accordance with the requirements of the actual need in the future.

 

The statement continued: "The Undersecretary of the Ministry stated that the ministry’s plans also aim to implement the marine pipeline project from Al-Faw warehouse to the oil export ports, as well as projects to develop export outlets."

 

"The importance of these projects lies in enhancing oil exports from the southern oil fields and achieving a high flow, in line with the planned increase in the future," the Ministry of Oil statement quoted the Director General of the Basra Oil Company, Khaled Hamzah.

 

 

 

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