Economy Update – Baghdad
On Tuesday, the Undersecretary of the Ministry of Oil announced the ministry’s objective to elevate oil production to approximately 7 million barrels per day over the next five years.
During his remarks at the “Iraq Energy” conference, Maarjar emphasized that a key strategic goal for the Iraqi Oil Ministry is enhancing production capacity, with a target of reaching 7 million barrels per day within the specified timeframe.
He further indicated that the ministry is also focused on addressing gas treatment issues, aiming for a reduction to zero percent in the flaring of associated natural gas, along with halting the import of oil derivatives in the upcoming period.
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