Iraq Ready to Resume Oil Production and Exports, Says Oil Minister

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The resumption of oil exports.

Iraq’s Minister of Oil, Bassem Mohammed, has confirmed that the country’s oil fields are fully prepared to resume extraction operations, with exports expected to gradually return to previous levels.

Speaking to the Iraqi News Agency, al-Abadi stated that Iraq’s oil sector is ready to restart production, noting that the return to normal output levels will take place in stages.

“The oil fields are ready to resume extraction operations,” the minister said, adding that production will increase gradually until it reaches its former capacity.

Al-Abadi also revealed that the State Oil Marketing Organisation (SOMO) has contacted all customers, requesting them to nominate their chartered and owned tankers for the loading of contracted quantities of Iraqi crude oil through the country’s southern export terminals.

He explained that export operations will resume progressively, depending on the smooth movement of maritime traffic through the Strait of Hormuz, one of the world’s most strategically important shipping routes for energy supplies.


PUKMEDIA