Latest news with #Al-Sawad
Iraqi News
6 days ago
- Business
- Iraqi News
Iraq to achieve self-sufficiency in refined fuels by year-end, Oil Minister tells IBBC
London ( – Iraq will stop importing refined white products (like gasoline and diesel) and achieve self-sufficiency by the end of 2025, potentially exporting surplus, Oil Minister Hayyan Abdul Ghani Al-Sawad announced Wednesday (June 4, 2025). Speaking at the Iraq Britain Business Council (IBBC) conference in London, he detailed significant energy sector advancements. This milestone is driven by increased domestic refining capacity, including the Karbala refinery and expansions in Basra and northern Iraq, boosting output by 360,000 bpd. Al-Sawad also highlighted major strides in associated gas investment, with utilization rising from 53% to over 70% through projects like Basra Gas and Halfaya, and upcoming developments in Akkas and Mansouriya fields offering international partnership opportunities. The Minister showcased the comprehensive TotalEnergies integrated project (oil, gas, solar, water injection) and progress on a major pipeline parallel to the Development Road. He emphasized Iraq's reform programs under PM Al Sudani aim to maximize resource value and foster partnerships. 'Iraq is opening up to the world with a partnership-based approach,' Al-Sawad stated, inviting quality contributions from British firms in conventional and renewable energy, citing an existing BP deal in Kirkuk.
Shafaq News
25-04-2025
- Business
- Shafaq News
Iraq plans to build largest solar power station
Shafaq News/ Iraqi government intends to establish the country's largest electricity generation plant using solar energy, Deputy Prime Minister for Energy Affairs and Oil Minister Hayan Abdul Ghani Al-Sawad said on Friday. According to a statement issued by the Ministry of Oil, the announcement came during Al-Sawad's meeting with International Energy Agency (IEA) Executive Director Fatih Birol on the sidelines of the Future of Energy Security Summit, which opened Thursday in London. Al-Sawad emphasized the importance of increasing the use of alternative energy sources in Iraq, particularly in electricity generation. The minister said Iraq has multiple clean energy projects underway, including the planned construction of the country's largest solar-powered electricity station. He also cited initiatives to utilize gas in national industries, calling it a strategic step in the government's program to diversify energy sources. On Thursday, the oil minister reiterated that fossil fuels will remain a key source of energy and industrial input in the coming years. Highlighting the Iraqi government's efforts and plans to expand the use of renewable energy, especially in solar power projects aimed at generating 12,000 megawatts, He also pointed to significant investments in associated gas from several projects, including the Integrated South Project in cooperation with TotalEnergies, which will, for the first time, involve the use of seawater for injection in oil fields. The Future of Energy Security Summit is being held in collaboration between the UK government and the IEA, with participation from energy ministers and senior officials from over 60 countries, as well as major global energy companies.
