- Egypt Signs Solar Energy Project with UAE, Bahrain, and China
- Libya Cooperates with the United States to Develop the Oil and Clean Energy Sector
- Kuwait Consolidates Its Position in the Global Oil Market
- UAE Signs 15-Year LNG Sale Agreement with India
- Iraq Increases Refining Capacity to 1.3 Million Barrels per Day
- Egypt begins a comprehensive program to drill new natural gas wells in the Delta and the Mediterranean.
- Qatar threatens to cut off gas supplies to Europe over human rights and environmental law
- Oman Achieves Positive Indicators in Various Sectors Under the Ministry of Energy and Minerals
- Iraq Adds New Solar Power Plant Capacity
- Kuwaiti Oil Minister Affirms His Country's Support for Efforts to Stabilize Global Oil Market
Iraq Increases Refining Capacity to 1.3 Million Barrels per Day
According to a statement issued by the Iraqi Prime Minister’s Office, Iraq’s refining capacity has increased to 1.3 million barrels per day, compared to approximately 1.1 million barrels per day in 2024.
Prime Minister Mohammed Shia al-Sudani stated earlier this year that Iraq aims to increase its refining capacity to 1.65 million barrels per day.
The increase in refining capacity is expected to contribute to covering all domestic consumption of petroleum products, which reached 1.1 million barrels per day last year, by 2024. This will make Iraq self-sufficient in various petroleum products, reducing the burden of importing these derivatives to the lowest level in decades.
Separately, the Iraqi Prime Minister announced that his country has signed an agreement in principle with the American company Chevron regarding projects, led by the Nasiriyah project. The Prime Minister welcomed Chevron’s return to Iraq, stressing that the government has adopted a different approach to dealing with major oil companies and their investments in Iraq, particularly American ones.
Over the past two years, Iraq has signed agreements with other international companies, a success in bringing these companies back to Iraq. Improved contract terms have attracted both TotalEnergies of France and British oil giant BP to sign new deals with total investments exceeding $50 billion.
