Hussain al-Shahristani, Iraq's deputy prime minister for energy, has said the country's theoretical oil capacity goal of roughly 12 million barrels per day (bpd) might not be reached, as it focuses on maximising revenue, not output, and reassesses world needs, Reuters has reported. "When I talk about production capacity of 11-12 million barrels per day - which is on par with Saudi Arabia , that doesn't mean Iraq will necessarily produce at that level. Our strategy is to maximise our revenue and not to maximise our production," he said.
You might also like...
Amiral cogen eyes financial close
26 April 2024
Lunate acquires 40% stake in Adnoc Oil Pipelines
26 April 2024
Saudi Arabia's Rawabi Holding raises SR1.2bn in sukuk
26 April 2024
Iraq oil project reaches 70% completion
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.