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[BUSINESS] · Iraq, Germany, France, Türkiye, Syria · 7 sources

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Iraq plans to diversify oil exports and boost production to 10 million barrels daily

Iraqi Prime Minister Ali al-Zaidi has announced plans to significantly expand the country's oil production and diversify its export routes to reach Western markets. During a European tour, including meetings in Berlin with Chancellor Friedrich Merz and in Paris with President Emmanuel Macron, al-Zaidi stated that Iraq aims to increase production to between 9 and 10 million barrels per day, with nearly half intended for Europe and the United States.

To reduce reliance on single corridors like the Strait of Hormuz, Iraq is expanding its use of the Ceyhan pipeline in Turkey, which now has a capacity of 1.25 million barrels per day. The government also plans to transport 1 million barrels per day through Syria in an initial phase. Al-Zaidi even proposed the possibility of a pipeline connecting Iraq directly to Germany.

In France, al-Zaidi met with TotalEnergies CEO Patrick Pouyanné to discuss strategic energy projects. TotalEnergies, which currently has $12 billion in Iraqi investments, aims to increase that figure to $16 billion. Discussions focused on the Gas Growth Integrated Project (GGIP) and efforts to capture associated gas to improve national energy self-sufficiency.

Regarding regional security, al-Zaidi noted that an investigation is ongoing into drone attacks on Saudi Arabia, involving a joint committee between Iraq and Iran.

Entities

Ali al-Zaidi · Emmanuel Macron · Friedrich Merz · Iraq · TotalEnergies

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