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Iraq implements strategy to boost exports
Iraq has launched a new strategy to strengthen its oil sector, focusing on increasing exports and developing local refineries, with the goal of shifting from exporting crude oil to maximizing the added value of national resources. Currently, Iraq’s exports exceed 3 million barrels per day, and the strategy aims to diversify export routes to ensure stable and more flexible flows, including the pipeline project from Basra to Feshkhabour. The government also seeks to develop refineries to achieve self-sufficiency in petroleum products and to stop imports, with a Japanese company resuming a fuel cracking project at the southern refineries. The Minister of Oil emphasizes the importance of investing in gas and reducing its flaring for environmental and economic reasons, as well as opening doors for global companies to invest in exploration and production fields.
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