New Oil Minister: War Cuts Iraq’s Hormuz Exports to 10 Million Barrels in April

INA

The newly appointed Iraqi Oil Minister, Bassim Mohammed Khudair.

The newly appointed Iraqi Oil Minister, Bassim Mohammed Khudair, announced on Saturday that the ministry’s priorities for the coming period include increasing production capacity, ending gas flaring, and developing the oil sector’s infrastructure.

He said current conditions remain challenging due to the regional war and the resulting disruption of export routes, including the closure of the southern export terminal. He added that Iraq exported only 10 million barrels of oil via the Strait of Hormuz in April because of the conflict.

Speaking at a press conference marking the assumption of his duties at the Ministry of Oil, Khudair said that “the government’s vision and strategy focus on attracting all foreign companies to Iraq to participate in increasing production capacity, training technical and engineering personnel, and building the best infrastructure for the oil sector.”

He added that Iraq “possesses all the necessary elements to achieve leadership in the energy sector, given its vast oil reserves,” noting that the government is seeking to transform all provinces into oil-producing regions to improve their economic situation.

He stressed that the Ministry of Oil, across all its departments, would implement its plans with a focus on integrity and transparency in dealings with companies, according to the highest standards, adding that there would be no tolerance for corruption or incompetence.

He further said the ministry would work to implement government plans to increase revenue through the activation of the oil sector, resolving outstanding issues, and improving overall performance.

He also noted that Iraq previously exported around 93 million barrels per month via the Strait of Hormuz, compared with only 10 million barrels in April due to the war.



PUKMEDIA