PM Al-Sudani: Iraq targets oil derivatives exports by 2030

Shafaq News– Baghdad

The year 2030 will mark the launch of Iraq’s exports of oil derivatives to global markets, Iraqi caretaker Prime Minister Mohammed Shia al-Sudani vowed on Wednesday.

Speaking at an energy conference in Baghdad, Al-Sudani clarified that his government has set a strategic goal to export 40 percent of Iraq’s oil derivatives by 2030, noting that Iraq’s gas resources had been widely flared over the past years, but recent discoveries have helped raise associated gas production to about 132 million cubic meters.

“Work is underway to fully invest this gas by 2028, through the efforts of workers in the oil sector,” Al-Sudani stated.

On electricity production, he said Iraq has reached its highest-ever generation levels, producing 29,000 megawatts, adding that integrated plans in the transmission and distribution sectors, including new transformer stations, have helped ease pressure on the national power grid, particularly during periods of high temperatures.

Al-Sudani noted the government’s plan also includes completing procedures to build new power stations with a total capacity of 57,000 megawatts. “34 of these plants are being developed in cooperation with specialized international companies.”

According to the Ministry of Finance, Iraq’s federal budget collected more than 82.377 trillion dinars ($62.9 billion) from January to August 2025. Official data showed that oil revenues reached 73.822 trillion dinars ($56.5 billion), accounting for 90% of total income, while non-oil revenues stood at 8.555 trillion dinars ($6.5 billion).