Global Economy News

Iraq's Kirkuk oil production increased to 360,000 barrels per day

Eviralnews, citing Oil Price, the North Iraqi Oil Company (NOC) has increased its crude oil production from the Kirkuk area to more than 360,000 barrels per day.

The Northern Iraq Oil Company, which dates back to the establishment of the Iraqi Oil Company (IPC) in Kirkuk in 1929, is seeking to increase production in this area to 400,000 barrels per day by the end of this year.

According to Iraqi Shafaq News Agency, this increase in production is expected to take place following the development and rehabilitation of several oil wells in the fields belonging to the Northern Iraq Oil Company by the Iraqi Drilling Company.

150,000 barrels per day of the current production in the Kirkuk region will be transferred to state-owned refineries in Biji and Dora, and another 100,000 barrels per day will reach other refineries, according to the Iraqi Ministry of Oil. The management of the remaining oil is the responsibility of the North Oil Company.

In the meantime, the dispute between Iraq and the semi-autonomous region of Kurdistan continues, and oil exports from Iraqi Kurdistan are still suspended.

The Prime Minister of Iraq said in May that the oil companies operating in the Kurdistan region of Iraq have rejected the request to revive the contracts with this region, which has led to a deadlock in the negotiations regarding the resumption of the Kurdistan region's oil exports. For more than a year, no oil has been exported from the Kurdistan region of Iraq.

End of message/4

Mhd Narayan

Bringing over 8 years of expertise in digital marketing, I serve as a news editor dedicated to delivering compelling and informative content. As a seasoned content creator, my goal is to produce engaging news articles that resonate with diverse audiences.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button