The President of the Republic: Iraq doubled its oil production to 4.7 million barrels during the past 10 years

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The President of the Republic: Iraq doubled its oil production to 4.7 million barrels during the past 10 years

President Abdul Latif Jamal Rashid said on Saturday that the Iraqi Ministry of Oil has boosted crude output to 4.7 million barrels during the last ten years.

In his statement at the seventh summit of the Gas Exporting Countries Forum – Algeria, Rachid stated, “It has become clear that the world needs stability in the energy sector and confidence in this stability, just as much as it needs energy itself.”

He went on to say, “Global efforts are still focused on establishing a balance between energy security and decreasing emissions, because energy shortages are just as destructive to humans as the impacts of climate change. Nearly a billion people throughout the world do not have access to energy sources.

Rashid went on to say that “despite all the challenges, the Ministry of Oil in Iraq doubled its production to (4.7) million barrels during the past ten years, so that Iraq alone contributes to a fifth of the global increase in production achieved.”

He added, “We have launched projects complementary to the fifth round and the sixth round, most of which are promising gas fields,” confirming the Cabinet’s approval of the recommendations for establishing a liquefied gas platform in the Grand Al-Faw Port, which is the first of its kind in the country in order to improve energy security and diversify its sources.

The head of state went on to say, “We are also taking deliberate steps to exploit gas, and before the end of the year 2023 a gas project has been operated,” and he added that “this year the Ministry is currently making great efforts to launch more than one gas project in multiple regions of Iraq.”