Iraq exported 10 million barrels of oil through Strait of Hormuz in April
Iraq exported 10 million barrels of oil through the Strait of Hormuz in April, down from about 93 million barrels per month before the Iran war, Oil Minister Basim Mohammed said at a press conference.
He said the Strait’s closure due to the conflict has reduced exports from Saudi Arabia, the UAE, Kuwait and Iraq, pushing prices higher. “Exports through the Strait of Hormuz are low and depend on the arrival of oil tankers, which are not entering because of insurance,” he said in his first press conference since taking office.
Iraq is currently producing 1.4 million barrels per day. Crude exports through the Kirkuk–Ceyhan pipeline resumed in March after Baghdad and the Kurdistan Regional Government agreed to restart flows. Basim Mohammed said Iraq now exports 200,000 barrels per day through the Turkish port of Ceyhan and plans to raise that to 500,000 barrels.
He also said Baghdad is negotiating with Ankara on a broader cooperation deal covering upstream and downstream projects, expanding beyond a previous agreement focused only on crude exports.
Iraq is in talks with U.S. companies including Chevron, ExxonMobil and Halliburton on oil and gas development projects, and Mohammed urged them to sign contracts quickly to help secure major revenues for the country.
The government also plans to work with OPEC to increase production and export capacity, aiming to reach 5 million barrels per day through the discussions. “When exports increase and the ceiling opens up with OPEC, we will bring in significant financial revenues for Iraq,” he said.
Iraq has no intention of leaving OPEC or OPEC+, according to two Iraqi oil officials who spoke to Reuters in April, and continues to support a strong group to stabilize global oil prices.
