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A specialist comments on Iraq's intention to stop increasing crude oil production
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Baghdad today - Baghdad
Oil expert Ali Al-Basrawi commented today, Sunday (October 22, 2023), regarding the news circulating about Iraq’s intention to stop increasing crude oil production.
Al-Basrawi told Baghdad Today, “We do not believe that there is any intention for Iraq to stop increasing crude oil production during the coming periods. On the contrary, Iraq has a plan and intention to increase this production, but at the present time it has reduced some of the production.” Because of decisions by OPEC.”
He explained, "Stopping the increase in oil production, we do not believe that it will contribute to increasing the rates of other investment projects in the field of oil. On the contrary, increasing production may contribute to increasing the proportion of oil and gas investment projects."
He continued, "Iraq wants to increase that production during the next few years, after there is stability in oil prices on the global market."
Earlier, the Turkish government officially informed Iraqi government officials in early October that the oil pipeline between the two countries is ready to resume the export of Kurdistan oil, according to a report issued by the “Iraq Oil Report” website.
The report, which was published on Saturday (October 14, 2023), was based on an official letter sent by the Turkish oil marketing company Botash to its Iraqi counterpart SOMO on Monday, October 2, 2023, in which it officially informed Iraqi government officials that the Iraqi-Turkish oil pipeline is ready to resume the export of Kurdistan oil. .
In another part of the message from the Turkish oil marketing company Botash, “The Kurdistan government can resume exporting Kurdistan oil as of Wednesday, October 4, 2023.”
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