Iraq Could Raise Oil Production Capacity To 6 Million Bpd

Iraq could raise its oil production capacity to 6 million bpd over the next five years but no more than that because of constraints weighing on the industry’s expansion, the Deputy Prime Minister of the country, Ali Allawi, said, as quoted by Energy Intelligence, this week.

Despite political troubles and doubts about the future of investments in Iraq’s oil, the country’s Oil Minister, Ihsan Abdul Jabbar Ismail, has the ambition to see production capacity at as much as 8 million barrels daily by 2027.

“I don’t think we’ll be expanding our capacity beyond … another 1 million b/d within five years,” his deputy, Allawi, said. According to him, 6 million bpd was a more realistic target for production capacity expansion.