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MNI China Daily Summary: Thursday, December 12
Iraq Plans To Boost Oil Export Capacity From 2023
Iraq is planning to start increasing oil export capacity from next year, according to the deputy director-general of Somo.
- Export capacity from southern ports is estimated to increase between 150-250k bpd from next year.
- The project involves rehabilitating the southern port of Khor Al-Amaya and marine pipelines, Mohammed Saadoon.
- The Khor al-Amaya terminal is expected to operate at around 400k bpd, when operations resume.
- Iraq exported 3.29mbpd from its southern ports in October, according to the Ministry of Oil.
- The Ministry is also pursuing plans to boost oil production to 5-5.5mbpd by 2028. The country currently produces 4.65mbpd.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.