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Iraqi News
6 days ago
- Business
- Iraqi News
China, India continue to be Iraq's largest oil importers
Baghdad ( – China and India continue to be major importers of Iraqi oil during May, according to customs data analysis from the two countries. China's imports of Iraqi oil grew by more than 22,000 barrels per day on an annual basis, to 1.11 million barrels per day, compared to 1.08 million barrels per day in the same month in 2024, Shafaq News reported. India's imports of Iraqi oil fell by 28,000 barrels per day, to 931,000 barrels per day, compared to 959,000 barrels per day in May 2024. Iraq primarily exports its oil shipments by sea, sending approximately 400,000 to 450,000 barrels per day to Jordan. This volume includes a stipulated rate of 15,000 barrels per day, as outlined in an agreement signed between the two countries. According to recent reports, the volume of crude oil that Iraq exported by sea declined to 3.27 million barrels per day in May 2025 compared to 3.30 million barrels per day in April 2025. Additionally, government sources indicated that Iraq's oil exports in May and June 2025 are expected to be less than 3.2 million barrels per day to meet its OPEC+ production quota, according to Attaqa News. During the first five months of 2025, Iraq's crude oil exports averaged approximately 3.33 million barrels per day, compared to 3.45 million barrels per day during the same period in 2024. Iraq's total seaborne exports of oil decreased to 3.66 million barrels per day during May 2025, compared to 3.87 million barrels per day in May 2024.
Iraqi News
21-04-2025
- Business
- Iraqi News
Iraq launches large-scale power plant project in Dhi Qar
Baghdad ( – In a step that will support Iraq's efforts to increase electricity generation to meet the country's growing energy demand, Iraqi Prime Minister Mohammed Shia Al-Sudani laid the foundation stone on Monday for a giant power plant in the southern Iraqi province of Dhi Qar. With a planned capacity of around 921 megawatts, the new power plant will run on natural gas, with the potential to eventually implement hydrogen mixing technology, according to Attaqa News. The project, which is being carried out by German-based Siemens next to the Nasiriyah Thermal Power Station, is a significant project that will raise the standard of energy supply in Iraq's national grid. The Iraqi Minister of Electricity, Ziyad Ali Fadel, conducted a field visit to the Nasiriyah Thermal Power Station, during which he reviewed the progress of ongoing maintenance work on the first and second units of the station. During a field visit to the Nasiriyah Thermal Power Station, Iraqi Electricity Minister Ziyad Ali Fadel assessed the status of current maintenance operations on the station's first and second units. Fadel emphasized that the units must be put into operation before the summer; thus, it is crucial to follow the timeline for finishing maintenance work. Due to years of damage to power facilities brought on by many wars and conflicts with terrorist groups, Iraq's electricity sector faces many difficulties. To meet local electricity demands, the Iraqi government has commissioned different foreign corporations, most notably US-based General Electric (GE) and Germany-based Siemens, to construct new power plants and renovate existing power facilities, in addition to initiating renewable energy initiatives. In addition to announcing plans to construct 11 thermal power plants with a combined capacity of 15,000 megawatts, the Iraqi Ministry of Electricity is in talks with foreign firms to generate an additional 35,000 megawatts of power through different types of power plants. Next summer, demand for electricity in Iraq is predicted to be about 55,000 megawatts, while output rates might be as high as 29,000 megawatts, leaving a gap of up to 26,000 megawatts. In less than two years, Iraq's electricity output increased by 40 percent, from around 19,000 megawatts to record output levels of about 27.4 megawatts last summer.
Iraqi News
18-03-2025
- Business
- Iraqi News
Iraq negotiates liquified gas deal with Algeria
Baghdad ( – Sources revealed that Iraq is currently in negotiations with Algeria over a liquefied natural gas (LNG) deal that is expected to be finalized by next summer. Exports are anticipated to start once Iraq completes the necessary infrastructure, and the agreement is anticipated to be publicized in no more than two months, according to Attaqa News. In order to facilitate LNG imports, Iraq is now developing the required infrastructure at the Khor Al-Zubair port in the southern Iraqi province of Basra. The construction process might take around four months. Iraq and Algeria's (LNG) deal is expected to support Baghdad's electricity sector in the summer of 2025 or even early in the winter. With annual volumes projected to be one million tons, the agreement will be medium-term. However, negotiations haven't settled on the exact amount yet. In order to meet the needs of power plants in the country, Iraq has relied on gas imports from Iran. However, these supplies have ceased, and the government is now making constant efforts to receive gas supplies from other countries in addition to its ongoing projects to become self-sufficient in gas. A deal to buy up to 20 million cubic meters of gas per day was inked by the Iraqi Ministry of Electricity and Turkmenistan last October. The Iraqi Ministry of Electricity stated in early January that gas supplies from Turkmenistan will cover half of the demands of the country's power plants. Iraq's Parliamentary Oil and Gas Committee revealed earlier in March that the government is taking measures to cover its gas requirements from the Gulf States to replace Iranian gas supplies following tighter US sanctions on Iran. Baghdad will not be able to import the Iranian gas required to operate power plants around the country after the US Department of State said in a statement recently the US administration has ended a sanctions waiver that allowed Iraq to import energy from Iran. As previously stated by Iraq's Electricity Minister Ziyad Ali Fadel, the arrangement will assist in guaranteeing that Iraq's gas-fired power plants receive the necessary fuel. About 60 percent of Iraq's electricity is produced in gas-fired power facilities, according to Fadel. In an attempt to reduce dependency on foreign suppliers, the Iraqi government is investing in domestic gas production projects, increasing gas imports, and diversifying energy sources.
