BAGHDAD: Iraqi Prime Minister Mohammed Shia Al-Sudani said on Saturday that his government has begun work to revive the Iraqi-Syrian oil export line as part of efforts to diversify export outlets and expand refining capacity.
Speaking at the Baghdad International Energy Forum, Al-Sudani said talks had been held “weeks ago” on reactivating the route, adding that work was underway on a 685 km Basra–Haditha pipeline aligned with the project.
“Iraqi oil will continue to feed global markets for more than 120 years at the least estimates, although our export share is not commensurate with the size of the reserve, productive capacity and population,” he said, according to the Iraq News Agency.
Al-Sudani highlighted the government’s drive to attract investment, particularly in refining and gas utilization.
He said Iraq aims to end the flaring of associated gas and make full use of around 1.3 billion standard cubic feet per day.
He also noted expansions at existing refineries, the inauguration of the Karbala refinery, and six new investment opportunities in the refining sector designed to strengthen partnerships with the private sector.
Al-Sudani said Iraq’s strategic goal was to convert at least 40 percent of its crude production into higher-value derivatives by 2030, with several projects already launched to support the plan.
