Shafaq News- Baghdad
Iraq’s new Oil Minister Basim Khudhair al-Abadi warned on Saturday thatescalating regional tensions threaten energy flows through the Strait ofHormuz, as Baghdad moves to ramp up crude exports via Turkiye and addresslong-standing production disputes with the Kurdistan Region.
Speaking during a press conference at the ministry on his first day inoffice, he pointed to a sharp decline in exports, stating that Iraq shipped anaverage of 93 million barrels per month before the latest US-Iran escalation,while volumes fell to around 10 million barrels in April.
Despite the slowdown, Iraq continues to export around 200,000 bpd fromKirkuk through Turkiye’s Ceyhan port, with plans to raise flows to as much as500,000 bpd. Achieving that target, he remarked, depends on the return ofinternational oil companies operating in the Kurdistan Region, several of whichhave recently suspended operations.
“The government is treating the energy file in the Kurdistan Region as apriority,” he added, referring to efforts aimed at narrowing gaps betweenBaghdad and Erbil and aligning production frameworks across the country.
Khudhair noted that crude production from Basra and Kirkuk currentlystands at no more than 1.4 million barrels per day (bpd), reflecting continueduncertainty in one of the country’s key economic sectors.
He also urged the Organization of the Petroleum Exporting Countries(OPEC) and the international community to support an increase in Iraq’sproduction ceiling, arguing that higher output is needed to fundinfrastructure, public services, and state operating costs.
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