21 Hrs
Source:
البلاد
Iraq secures $200B deals with US energy firms
The Iraqi Ministry of Oil discusses a deal worth $200 billion signed with American companies during the Iraqi Prime Minister's visit to the United States. These agreements aim to boost Iraq's oil production capacity, which currently stands at 4.8 million barrels per day, and to enhance investments in associated gas projects. Iraq faces challenges in creating favorable conditions to attract greater investments and increase production, despite restrictions imposed by the OPEC+ coalition and production cuts. These agreements come as part of Iraqi efforts to develop the oil sector and reduce reliance on the Strait of Hormuz, with a focus on strengthening national revenues.
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