Drone view of oil tanker HELGA berthed at one of Iraq’s southern offshore oil terminals near Basra as it prepares to load crude oil, becoming the second vessel to arrive since the closure of the Strait of Hormuz, April 24, 2026. REUTERS\/Mohammed Aty<\/p>\n
Iraq Exported 10 Million Barrels Of Oil Through Strait Of Hormuz In April<\/p>\n
BAGHDAD, May 16 (Reuters)\u00a0\u2013<\/p>\n
exported 10 million barrels of oil via the<\/p>\n
in April, down from about 93 million barrels monthly before the\u00a0Iran war, the country\u2019s new oil minister, Basim Mohammed, said at a press conference on Saturday.<\/p>\n
The closure of the Strait of Hormuz due to the Iran war has curtailed oil exports from Saudi Arabia, the UAE, Kuwait and Iraq, sending prices sharply higher.<\/p>\n
Exports through the Strait of Hormuz<\/p>\n
are low and depend on the arrival of oil tankers, which are not entering because of insurance\u201d, he saidin his first press conference after taking office.<\/p>\n
Iraq is currently producing 1.4 million barrels per day.<\/p>\n
The country\u2019s crude\u00a0exports through the Kirkuk\u2013Ceyhan oil pipeline resumed in March, after Baghdad and the Kurdistan Regional Government agreed on restarting flows.<\/p>\n
\u201cWe export\u00a0200,000 barrels through (Turkish)\u00a0Ceyhan\u00a0port, and we have a plan to increase it to 500,000 barrels\u201d, Mohammed said.<\/p>\n
PUSH TO BOOST PRODUCTION, EXPORTS<\/p>\n
Baghdad is also in talks with Ankara on a new cooperation agreement covering upstream and downstream projects, expanding on a previous deal that was limited to crude exports, Mohammed said.<\/p>\n
Iraq is in negotiations with U.S. companies, including Chevron\u00a0CVX.N, ExxonMobilXOM.Nand Halliburton\u00a0HAL.N,on developing oil and gas projects, Mohammed said, urging the firms to sign contracts as soon as possible to help secure significant revenues for Iraq.<\/p>\n
Iraq plans to engage with<\/p>\n
to boost the country\u2019s production and export\u00a0capacity, the minister said, adding that Baghdad aims to reach a production capacity of 5 million barrels per day\u00a0through this dialogue.<\/p>\n
\u201cWe have a dialogue with OPEC to increase Iraq\u2019s export\u00a0capacity. When exports increase and the ceiling opens up with OPEC, we will bring in significant financial revenues for Iraq,\u201d he added.<\/p>\n
Iraq has no intention of leaving OPEC or OPEC+<\/p>\n
, and supports a strong organisation to ensure stable and acceptable oil prices, two Iraqi oil officials told Reuters in April after the United Arab Emirates decided to leave the group.<\/p>\n