Home
Iraq to Spend $130bn on Energy Infrastructure
By John Lee.
Iraq plans to spend $130 billion on the country?s upstream sector over the next five years, according to a report from Bloomberg.
Speaking at a conference in Basra, Oil Minister Abdel-Kareem al-Luaibi [Elaibi] (pictured) said the expenditure will be necessary to help raise production capacity to 9 million barrels a day (bpd).
$18 billion will be allocated to raise natural gas output, with another $25 billion to expand refinery capacity; Iraq forecasts $600 billion in revenue from the oil expansion.
Production increased 24 percent last year, with Iraq overtaking Iran to become OPEC?s biggest producer after Saudi Arabia.
[You must be registered and logged in to see this link.]
By John Lee.
Iraq plans to spend $130 billion on the country?s upstream sector over the next five years, according to a report from Bloomberg.
Speaking at a conference in Basra, Oil Minister Abdel-Kareem al-Luaibi [Elaibi] (pictured) said the expenditure will be necessary to help raise production capacity to 9 million barrels a day (bpd).
$18 billion will be allocated to raise natural gas output, with another $25 billion to expand refinery capacity; Iraq forecasts $600 billion in revenue from the oil expansion.
Production increased 24 percent last year, with Iraq overtaking Iran to become OPEC?s biggest producer after Saudi Arabia.
[You must be registered and logged in to see this link.]
» Ports Authority notes the fate of the five berths in the Grand Faw Port
» MP: Why is the regional government fighting the civil banks war and leaving the core of the issue?
» Political researcher: The amendment will include sovereign ministries
» Retirement: End of service bonus paid to more than 7,000 retirees
» Al-Mashhadani stresses the importance of the role of the Audit Bureau in combating administrative an
» Al-Mashhadani and Al-Hakim discuss parliament’s approval of important laws
» Parliamentary consensus to pass controversial laws soon
» Currency Auction.. Increase in the Central Bank of Iraq’s sales of foreign remittances
» Interior Ministry dismantles 600 drug networks, electronic passport to be introduced soon - Press co
» utube 11/2/24 MM&C Report-Iraq 3 Presidents-National-Constitutional Entitlements-Open Market Operati
» utube 11/5/24 MM&C MM&C News Report-ICC-Investors-RIYADA BANK-Port of Faw-3 Presidents Seated-Removi
» Foreign Minister warns of major and dangerous economic repercussions
» Roadmap for Reform
» Government reshuffle looms over Al-Sudani’s cabinet.. The compass of change is heading towards 4 min
» Parliamentary move to legalize foreign labor in Basra
» Parliament intends to amend the retirement law and return the service age to 63 years
» Parliamentary move to question a senior official and complete procedures against the Minister of Com
» Legal expert explains the mechanism for forming the Kurdistan Regional Government
» Silk Road imposes a state of maximum alert suddenly
» Sheikh Raouf: There is an urgent need to find a constructive, corrective opposition in Kurdistan
» Green light from Baghdad to build the first waste recycling plant in eastern Iraq
» MP: Al-Mashhadani discussed 3 important files with parliamentary blocs
» MP: Al-Mashhadani's election will not affect the completion of legislation
» Parliamentary Oil: Investment in associated gas in fields exceeds 60%
» IMF: Foreign investment outperforms sovereign funds in generating growth in Gulf
» Categories exempted from the curfew in the population census.. Get to know them
» Kurdish investment trend in central and southern Iraq.. What are the reasons?
» Iraq exports more than 6 million barrels of oil to America in a month
» The Private Banks Association supports the Prime Minister’s directives to localize private sector em
» Parliamentary confirmation to support financial oversight in combating corruption
» Next Sunday.. Celebrating Baghdad Day
» Sayyid Sistani's commandments
» New services for health insurance subscribers
» Al-Sudani directs ministries to leave (cash)
» Mr. Sistani sets a roadmap for Iraq’s prosperity
» OPEC+ postpones production increase
» Government Advisor to {Sabah}: Turkish companies’ expertise has given them importance in implementin
» The future of smart cities in Iraq is on the table for discussion
» Expectations of achieving agricultural self-sufficiency within 3-5 years
» Ministry of Agriculture: Launches the Electronic Inquiry System Service
» Electricity contract employees demonstrate in Maysan to demand permanent employment
» The Council of Ministers holds its regular session headed by Al-Sudani
» Iraqi oil exports to America amounted to more than 6 million barrels during the past month
» Launching the major national campaign to raise awareness of the Social Security Law
» Private Banks Association: We support the Prime Minister’s directives to localize private sector emp
» Parliamentary Committee: The Social Security Fund has become sovereign and the legislation of the la
» Britain launches programme inside Iraq to combat 'Kurdish human trafficking gangs' in France
» Warnings of delay in forming the regional government: will push regional and international parties t
» Dollar prices rise again in Baghdad Stock Exchange and Exchanges
» Al-Sudani praises the assistance provided by the United Nations mission to Iraq in facing challenges
» The Private Banks Association announces its support for Al-Sudani’s approach to localizing private s
» Interior: We have achieved a very significant decrease in crime rates across the country
» The Private Banks Association announces its support for Al-Sudani’s approach to localizing private s
» Iraq, Saudi Arabia sign MoU for military cooperation, boost bilateral ties
» Transportation: Direct flights to 4 global cities
» Prime Minister stresses importance of Mr. Sistani's diagnosis of Iraq's needs
» “To enhance national security”.. Parliamentary Committee: Intelligence Service Law is ready to be pr
» Optimism for a bountiful agricultural season.. Kurdistan Region records record high rainfall amounts
» Al-Sistani’s “Seven Commandments” occupy Iraqi politics.. A reading of the position of the authority
» As the date approaches, will Article 140 hinder the population census?
» Prime Minister directs unification of efforts in the Iraqi Media Network
» “Framework” coups with Sunni facades on the map of local governments in preparation for the 2025 ele
» Parliament intends to extend the legislative session for a month
» Difficult tests facing Parliament.. What are the scenarios for the remainder of the current session?
» Parliamentary Security: Iran will launch a new strike against “Israel” within a short period.. What
» Barzani to Romanowski: We have started negotiations to form the tenth government and no veto on any
» Al-Sudani directs the localization of private sector salaries and sets a date for the departure of c
» Bakhtiar Haji meets a delegation from the General Directorate of Civil Defense in the Kurdistan Regi
» New Cities Authority sets timeframes for project completion, reveals details of its services
» Oil announces completion of drilling and rehabilitating 15 wells during the past month
» Ministerial Council for Economy: Taking the necessary measures and decisions that contribute to mark
» Parliamentary Legal: There is a trend to extend the legislative term of Parliament
» What is the truth about extending the legislative term of the House of Representatives?
» The "Freedom of Demonstration" Law is Ready for Voting.. How Was It Amended?
» Mr. Al-Sadr on the US elections: It is shameful for an Arab to pin his hopes on a senile or insane p
» Laws stuck hostage to disputes between blocs
» Doubts after the decline in power supply at the beginning of each month.. Is there a deal between ge
» Integrity and the Financial Supervision Bureau agree to activate the cooperation agreement between t
» Al-Mashhadani faces 170 suspended laws.. Will they be approved or deported?
» Parliamentary demands to cancel the security agreement with Washington
» MP: Oil derivatives smuggling has decreased by 80% in Iraq
» After years of controversy, the Minority Protection Act is submitted for the first reading
» Al-Sayhoud: The ministerial reshuffle is useless for several reasons
» Iraqi government makes changes to the General Secretariat: Al-Juhaishi succeeds Al-Halbousi
» Extension of the legislative term of the Iraqi parliament for an additional month to pass laws
» Prime Minister: The necessity of strengthening Iraq's position to be at the forefront of the region'
» Parliamentary Transportation: We are determined to pass the Civil Aviation Authority Law
» Baghdad Council: Study of the reality of companies applying to implement projects
» Water Resources announces its control over the oil slick in the Tigris River
» Reconstruction: A new government vision for distributing serviced lands among those entitled to them
» Parliamentary Immigration Committee demands increasing the amount of the return grant
» Accreditation of specialized graduates to support quality control
» Heritage markets and buildings in Mosul after its reconstruction
» Specialized committee to ensure acceptance of cybersecurity outputs
» The Ministry of Interior issues mechanisms to regulate the work of private security companies
» Baghdad Council: Study of the reality of companies applying to implement projects
» Welcome to the trends of establishing an administrative capital
» Securities trade more than 88 billion shares