Iraq’s Crude Exports Crosses $115bln in 2022

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Iraq’s crude oil exports crossed more than $115 billion in 2022 based on preliminary data, reports Zawya, citing Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul Ghani.

More than 1.29 billion barrels were exported last year to China, India, South Korea, Turkey, Italy, Spain, France, the UK, the US and Arab countries, he stated.

In November 2022, Iraq’s Oil Exploration Company (OEC) Director Ali Jassim Hammoud revealed three projects, including a strategic project, to increase the country’s oil and gas reserves on the borders of Iran, Kuwait, Syria and Saudi Arabia.

The exploratory drilling operations will contribute significantly to increasing oil and gas reserves, he stated, adding the company needs an increase in budget to avoid obstacles in implementing the projects.

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Source: Zawya