Tag Archives: Iraq Oil Ministry

Iraq’s 2018 budget of nearly $88 billion comes with a deficit of more than $10 billion.

Iraq wants to increase its crude oil production to over 5 million barrels per day (bpd) from its current production of about 4.35 million bpd.

Iraq is the Organization of the Petroleum Exporting Countries’ second-largest producer after Saudi Arabia.

The Iraqi oil exports reached in last February about 95.940.000 barrels.

Many of the world’s biggest oil companies. like BP. Total. Royal Dutch Shell and Eni. have operations in Iraq.

Iraq hopes to end gas flaring by 2021.

The region'.s second-largest producer had earlier invited bids by April 15.

Earlier this month. the Iraqi government approved a plan to increase crude oil production to 6.5 million barrels per day.

Indian companies expressed interest in investing in Farzad B oilfield which was approved by the Iranian president.

There are five international companies that are competing to win the project.