Iraq is targeting to reach an oil production capacity of 7 million b/d, compared with 5 million b/d currently, and to stop flaring gas as well as importing fuel from Iran by 2025, the country’s oil minister Ihsan Ismaael said on Aug. 23. OPEC’s second-largest oil producer is also increasing its oil export capacity to 6 million b/d from the current level of more than 3.8 million b/d, Ismaael told the state-run Iraqi Media Network television station. The country has also implemented nearly 80% of all gas projects that will help reduce gas flaring and imports from Tehran, he added. “All gas projects are currently under implementation, except for Ar Ratawi, which […]