Iraqi Oil Minister Calls for Increased Oil Production in Line with Country's Reserve Capacity

According to Kurdistan Press, Iraqi Oil Minister Bassem al-Abadi emphasized the need to intensify efforts and take the necessary measures and decisions to increase oil production and also increase exports to support the national economy.

According to a statement by the Iraqi Oil Ministry, while chairing a meeting of the ministry's crisis headquarters, al-Abadi considered increasing oil production and exports part of the Ministry of Oil and the government's plan to increase financial revenues; revenues that help the government provide services in various sectors.He stressed that officials from various oil sector institutions must play a leadership role and make decisions that will help develop activities in the four main departments of the Ministry of Oil.

The statement said that the Iraqi Minister of Oil has ordered the ministry’s oil extraction companies to present their plans and prospects for increasing oil production to a level commensurate with the volume of Iraq’s oil reserves.

Abadi also stressed the importance of providing statistics, figures, production rates and estimates related to production capacity in order to fulfill the demands of the government and the Ministry of Oil in this regard.