Minister of Oil: We are working to resume exports through the northern port

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Minister of Oil: We are working to resume exports through the northern port

On Wednesday, Oil Minister Hayan Abdul Ghani confirmed that crude oil exports will resume through the northern port.

The Ministry of Oil said the Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul-Ghani, chaired an operations leadership meeting. The statement praised the achievements made in the oil sector during the previous year.

Abdel Ghani emphasized the need to implement government programs and accelerate strategic projects in extraction, refining, gas, distribution, export outlets, renewable energy, and infrastructure.

He expressed his ambition for the new year to witness the implementation of strategic projects, achievements, and significant additions to the oil industry.

He stated, “We are currently working on enhancing projects to sustain and boost oil production while also implementing the five-year plan requirements that aim to achieve a production rate of 6 million barrels per day. We are confident that we will see a significant increase in production, and our ultimate goal is to become self-sufficient in oil production and reduce imports. We plan to complete several promising projects to help us achieve our objectives.”

He said, “We have been successful in promoting investment projects for associated gas, and as a result, there has been an increase in the amount of gas invested from oil fields during the past period. This year, an additional 200 mqmq will be added from the fields invested within the work tasks of the Basra Gas Company, along with promising increases from the fields of the two Maysan oil companies. We are also working on enhancing the strategic reserve of petroleum products to support the electric power generation sector and local needs. Additionally, we are working to resume the export of crude oil through the northern port to increase financial revenues for the state treasury. The ministry achieved an increase in financial revenues over what was planned in 2023, and we hope to achieve even more during the new year.”

He emphasized the need to convene a meeting of operations leadership to discuss the implementation of strategic project plans and accelerate their progress.

During the meeting, several important topics and projects were discussed, and measures and recommendations were taken in relation to them. The meeting was attended by the ministry’s undersecretaries and a number of officials from the companies and departments of the ministry’s center.