Iraqi PM says national oil reserves will sustain exports for 120+ years, with new pipelines and refining plans underway.
BAGHDAD: Iraq’s oil will remain a key supplier to the global market for more than 120 years, according to Prime Minister Mohammed Shia Al-Sudani, who shared new strategic energy plans during the Baghdad International Energy Forum.
In a keynote speech, the Prime Minister revealed that the Iraqi government has reinitiated talks to reactivate the Iraqi-Syrian export line as part of its broader strategy to diversify oil export routes and increase flexibility. “We have already begun extending a 685-kilometre pipeline between Basra and Haditha in this direction,” Al-Sudani confirmed.
Despite Iraq’s vast oil reserves and high production capacity, the Prime Minister acknowledged that the country’s global export share does not reflect its full potential. To change this, the government is expanding refining infrastructure and encouraging foreign investment in the oil and gas sector.
Al-Sudani also underlined Iraq’s goal to eliminate the flaring of associated gas and fully utilise its capacity of 1,300 million standard cubic feet. He said several refinery projects are in progress, including the opening of the giant Karbala refinery and the launch of six new investment opportunities in refining.
Looking ahead, Iraq aims to shift away from exporting crude oil alone. The strategic target is to convert 40% of total oil output into high-value derivatives by 2030. This transition includes modernising existing refineries and integrating private sector partnerships to maximise national benefit from its energy resources.
The Prime Minister’s speech reflects Iraq’s long-term vision to strengthen its global energy footprint and modernise its oil infrastructure to serve both domestic needs and international demand.
