BAGHDAD, (Pakistan Point News - 22nd Jul, 2026) Iraqi Oil Minister Bassem Mohammed Khudair said Iraq's total oil production capacity has exceeded 4.8 million barrels per day as part of a strategic vision to develop Iraq's oil and gas sectors, adding that agreements signed during Prime Minister Ali Al-Zaidi's visit to the United States would help increase oil production and create employment opportunities.
Khudair said Iraq is on track to achieve self-sufficiency in natural gas by 2030. He also said the government is engaged in serious and constructive talks with OPEC aimed at increasing the country's oil exports.
He told Al-Mashhad programme, broadcast by Al-Iraqiya news and followed by the Iraqi News Agency (INA), that Iraq had signed seven key agreements during Al-Zaidi's visit to the United States.
He said the value of the energy-sector contracts and agreements signed in Washington amounts to around $200 billion, adding that they are expected to create jobs, increase Iraq's oil and gas reserves and production, and deliver broader social benefits, including scholarship opportunities.
He noted that 22 international companies are currently operating in Iraq's oil fields.
He added that Iraq has achieved self-sufficiency in gas oil (diesel) and kerosene, and currently produces around 30 million liters of gasoline per day, while acknowledging that challenges remain in the country's fuel distribution mechanisms.
On OPEC, the oil minister said Iraq is engaged in serious and constructive dialogue with the organization to increase its oil export quota.
"The government remains committed to securing the export share Iraq deserves, while taking into account the exceptional circumstances the country has endured as a result of wars and the destruction of its infrastructure," he said.
