Iraqi Oil Minister Bassem Mohammed Khudair revealed a radical shift in Baghdad's oil policy, focusing on local manufacturing of refined products and increasing their added value, rather than relying solely on crude oil exports, which currently exceed 3 million barrels per day.
During the opening of the fourth Iraq Oil and Gas Conference and Exhibition, the minister explained that the priorities for the next phase include:
Securing exports: Constructing the Basra-Fishkhabur pipeline to diversify shipping routes and prevent supply disruptions.
Resuming stalled projects: The return of the Japanese company JGC to work on the catalytic cracking (FCC) project in the south to achieve self-sufficiency in fuel.
Gas investment: Gradually eliminating gas flaring and opening new exploration fields to foreign companies.
