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Iraq Announces Plans to Increase Oil Production to 1.5 Million Barrels Per Day by 2021

Currently, Iraqi oil products' production reached to about one million b/d, as reported.

Baghdad/ Iraq TradeLink: Iraqi oil sources reported that Iraq is planning to increase its oil products supply to 1.5 million b/d by 2021 .

Currently, Iraqi oil products' production reached to about one million b/d, as reported.

The sources added that Iraq is importing benzene and gas products with the amount of more than 2 billion dollars annually.

The ministry is planning to build another refinery in Basra province, south of the country, with the capacity of 300.000 b/d, as well as another proposed refinery in Kirkuk with the capacity of 70.000 b/d, while in Nassiriya there are talks to build a refinery with 150.000 b/d.

In Karbala, the financial difficulties hindered completing a refinery of 140.000 b/d, while the Iraqi government is trying to get 2 billion dollars to cover the shortages in financing the project.


On the other hand, some oil reports said that Iraq is conducting talks with China , Singapore and Indonesia to invest in thee refining sector.

Source: Iraq TradeLink 

 

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