24.2 C
Iraq
Thursday, October 30, 2025

Dollar Prices Rise in Baghdad and Erbil Markets

The US dollar exchange rate in Iraq climbed higher on Monday as trading opened in Baghdad and Erbil. The increase reflects ongoing pressure in local currency...
HomeUncategorizedIraq Oil Pipeline Expansion Boosts Export Power

Iraq Oil Pipeline Expansion Boosts Export Power

The Iraq oil pipeline expansion has officially begun, marking one of the country’s largest and most strategic energy projects. Iraq has started building a massive offshore pipeline system to transport crude oil from its southern ports, a step that will strengthen its export capacity and global energy influence.

According to the Ministry of Oil, this new pipeline aims to improve the efficiency and flexibility of crude oil exports. The project supports Iraq’s long-term vision to secure stable energy supplies and enhance its position in global oil markets. It also reflects the government’s commitment to modernizing the nation’s energy infrastructure and ensuring sustainable economic growth.

Oil Minister Hayan Abdul-Ghani explained that the new system represents a major milestone for Iraq’s oil sector. He said the project has a design capacity of 2.4 million barrels per day and an operational capacity of around two million barrels per day.

The Iraq oil pipeline expansion includes a 70-kilometer structure, with 61 kilometers offshore and nine kilometers onshore. It will connect to two offshore platforms, VS-1 and VS-2, near the Basra and Khor al-Amaya terminals. These platforms will help streamline export operations and reduce pressure on existing systems.

Furthermore, the Ministry of Oil highlighted that this project aligns with Iraq’s broader plan to build an integrated and reliable oil export network. The initiative will increase national income, improve infrastructure performance, and secure export continuity even during global market fluctuations. As a result, Iraq will gain more resilience against sudden price shifts and supply disruptions.

Moreover, this step supports Iraq’s economic diversification efforts. By developing advanced energy systems, the country can attract more international investors and stimulate local job creation. The Iraq oil pipeline expansion also contributes to stability in southern Iraq by improving logistics and ensuring efficient use of natural resources.

In conclusion, this strategic project represents a bold move toward long-term growth and global competitiveness.