Iraqi Oil Export Operations Set to Resume
In a significant development for Iraq’s energy sector, Oil Minister Hayyan Abdel-Ghani has announced that the country will initiate oil exports from the Kurdistan region via the Sumo Oil Marketing Company imminently.
During a recent visit to the Khor Al-Zubair port, the Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdel-Ghani Al-Sawad, assessed the progress concerning the connection of the gas pipeline. This visit underscores the government’s commitment to revitalizing oil export processes.
According to statements from the Ministry of Oil, the forthcoming announcements will reveal the commencement of oil export operations through the Turkish port of Jihan, starting with an initial volume of 185,000 barrels per day. This volume is expected to increase gradually until it aligns with the energy production targets outlined in the federal budget.
This move is a crucial step in reestablishing Iraq’s oil export capacity, particularly in light of the country’s economic reliance on oil revenues. The focus on timely and consistent operations reflects a strategic initiative to enhance the country’s energy infrastructure and bolster fiscal stability.
