Baghdad: Iraqi Prime Minister Mohammed Shia Al-Sudani confirmed Saturday that the government held talks to reactivate the Iraqi-Syrian export line. The PM said in a speech during the Baghdad International Energy Forum that: “We held talks weeks ago to reactivate the Iraqi-Syrian export line, to be an option for the diversity of Iraqi export ports, while providing flexibility in crude oil transport capabilities, and we have already started to extend a pipe (Basra-Haditha) with a length of (685) KM, which is located in this direction.”

According to Emirates News Agency, Al-Sudani emphasized that Iraqi oil will continue to supply global markets for more than 120 years, even though the current export share does not match Iraq’s reserves, productive capacity, and population size. He also highlighted Iraq’s openness to welcoming oil companies interested in investing in the country’s oil and gas sectors.

Al-Sudani further mentioned the end of the burning of associated gas and the full utilization of 1,300 million standard cubic feet. He detailed the government’s efforts to expand current refinery capacities, inaugurate the Karbala refinery, and enhance refining units across other Iraqi refineries. Additionally, he announced six investment opportunities in the refinery sector to bolster partnerships with the private sector.

The Prime Minister outlined Iraq’s strategic objective of converting oil exports into high-value derivatives, targeting at least 40% of total production by 2030. Al-Sudani noted that oil projects have already commenced to achieve this goal.