Iraqi PM sets 10M bpd oil target for 2030

Shafaq News- Baghdad

Iraq aims to increase oil production to 10 million barrels per day (bpd) by 2030 to strengthen its economy and support development, Prime Minister Ali Al-Zaidi said on Sunday.

During a meeting with provincial officials in Al-Anbar, where he also launched a housing land-distribution project under the Watan Initiative, Al-Zaidi pledged to address outstanding financial entitlements for families of “terrorism” victims, displaced residents, homeowners whose properties were damaged, and farmers. Describing the current phase as “one of construction and development,” he warned against obstructing reconstruction projects or exploiting instability for financial gain.

On Thursday, Al-Zaidi discussed plans for a pipeline linking Iraqi oilfields to Mediterranean and Red Sea ports with representatives of a consortium proposing the project. He pledged to ease procedures for foreign companies and remove obstacles to its implementation, citing potential gains in revenue and access to global energy markets.

Iraq’s crude oil exports averaged 3.35 million bpd in October, according to Bloomberg.

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