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Baghdad, August 21 (QNA) – Iraqi Prime Minister Ali Faleh Al Zaidi affirmed today that his country plans to increase oil production to between 8 million and 10 million barrels per day within six years.
Speaking at the Eighth Baghdad Dialogue Conference, Al Zaidi said a ministerial committee is examining ways to increase Iraq’s oil production quota within the Organization of the Petroleum Exporting Countries (OPEC).
He also said work was underway to export Iraqi oil through Baniyas in Syria and Aqaba in Jordan.
He noted that Iraq was facing difficult economic conditions due to regional developments and disruptions to oil exports through the Strait of Hormuz, but maintained that the country has more than one option to address the economic repercussions of the crisis.
In the same context, the Iraqi prime minister revealed that preparations for next year’s draft budget are nearing completion. He said the budget would focus primarily on the electricity sector, including generation, transmission and distribution, as well as the expansion of solar energy projects. (QNA)
