Iraq plans to raise its oil exports from its current 2.6 million barrels per day (bpd) to 6 million in 2017, helped by foreign investment in the sector.
The oil-rich country has been increasing export capacity as production levels touched 2.565 million bpd last month, the highest level in more than 30 years.
Oil shipments from Iraq are expected to reach 2.9 million bpd next year, 3.5 million in 2014, 3.75 million in 2015, 5 million in 2016 and 6 million in 2016, the oil minister Abdul Kareem Al Luaibi said yesterday. Current exports are at an average of 2.6 million bpd.
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