• 2 minutes Oil Price Could Fall To $30 If Global Deal Not Extended
  • 5 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 8 minutes The Inconvenient Truth Of Electric Cars
  • 3 hours Here we go folks, the wish of so many: Pres. Trump threatens to lessen US security role in Strait of Hormuz, unveils sanctions
  • 1 hour Magic of Shale: EXPORTS!! Crude Exporters Navigate Gulf Coast Terminal Constraints
  • 2 hours To be(lieve) or Not To be(lieve): U.S. Treasury Secretary Says U.S.-China Trade Deal Is 90% Done
  • 20 hours Wonders of Shale - Gas, bringing investments and jobs to the US
  • 3 hours Looks like Trump is putting together a "Real" Coalition to protect Persian shipping lanes. Makes perfect sense. NO Fake "Coalition's of the Willing" UPDATE REUTERS Pompeo "Sentinel Program"
  • 15 hours Here We Go: New York Lawmakers Pass Aggressive Law To Fight Climate Change
  • 16 hours The Strait of Hormuz is the world’s most important oil transit chokepoint
  • 11 hours Hard To Believe: UAE Will Work To Defuse Middle East Tension
  • 5 hours Cap and trade: What could Oregon’s carbon policy cost you?
  • 5 hours The Plastics Problem
  • 20 mins On the hobby side of things
  • 17 hours Climate change & Wildfires: More Wildfires To The Western U.S., Will Affect Tens Of Millions Of People
  • 9 hours Oil Demand Needs to Halve: Equinor
Alt Text

Trump: We Won’t Protect Foreign Oil Tankers For Free

Reacting to rising tensions in…

Alt Text

The Big Unknown In OPEC’s New Deal

Russian oil minister Alexander Novak…

ISN Security Watch

ISN Security Watch

ISN Security Watch was a geopolitical news publication run by ISN ETH Zurich.

More Info

Premium Content

Iraq Oil Output Highest in 20 Years

Iraq's new oil minister, Abdul Kareem Luaibi, said the country's oil output has reached 2.6 million barrels per day, the highest level for more than 20 years.

Luaibi said developing Iraq's oil sector is essential for providing jobs and revenue for the country and he vowed renewed efforts at exploration and development of new sites.

Luaibi also spoke about the need for constructing new oil and natural gas pipelines, including three to Syria, and said there were plans to build "new large refineries."

Luaibi said new refineries would be built at Nasariyah, Karbala, Maysan, and Kirkuk within three to five years.

Luaibi also confirmed exports from the semi-autonomous northern Kurdish region were expected to resume soon. But he said there was "nothing new" regarding a disagreement between Iraqi Kurdistan and the central government in Baghdad over contracts to develop the northern oilfields.

Iraq sits upon some of the world's largest oil reserves but has struggled to push output close to the 3 million barrels per day it produced in the late 1980s, before it invaded Kuwait.

Luaibi said Iraq aims to raise oil output to 3 million barrels per day by the end of 2011.




Download The Free Oilprice App Today

Back to homepage


Leave a comment
  • Anonymous on December 31 2010 said:
    It is New Year's eve, and I think that I will be into the bubbly before the night is over, and so a comment is necessary on this article before that happens. I don't see anything in this article that would spoil my evening. Iraq can raise its output of oil by the amount given without being dressed down by OPEC, and it makes all the economic sense in the world for them to construct refineries. That is what economic development is all about, as I argued in a recent paper,

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News