Iraq says oil exports unaffected by war
Iraq said on Wednesday its oil exports are flowing normally through Hormuz Straits despite the escalating mutual attacks between nearby Iran and Israel.
Most of the crude exports by OPEC's second largest oil producer pass through Hormuz, which Iran has frequently threatened to block over the past years.
Iraq produced just over four million barrels per day (bpd) in May and exported nearly 3.3 million bpd, mostly to China and India, according to the Iraqi Oil Ministry.
'Iraq's oil exports have not been affected by the conflict between Iran and Israel…I don't think they will be affected because they are far from the centre of the hostilities…Iraq's oil exports are still flowing out normally,' said Shada Al-Izzawi, a member of Iraqi parliament's oil and gas committee.
'The attacks by two countries against each other have not yet affected any oil site or export terminal in Iraq,' she told the official daily Alsabah.
Izzawi did not make clear how Iraq will continue to export crude to the global market if Iran carries out its threat and shut Hormuz, a strategic narrow water way through which more than 18 million bpd pass, nearly a fifth of the world's oil consumption.
But an Iraqi oil analyst said the Iran-Israel conflict should prompt Baghdad to reach agreement with the northern Kurdistan region to re-open the 970-km Kurkuk-Ceyhan pipeline, which has an export capacity of nearly 400,000 bpd.
'Iraq should intensify efforts to reopen the Cayman pipeline to export an additional 400,000 through Turkey…this will give Iraq's crude exports more flexibility in case the conflict in the regional escalates further,' said Nabil Al-Marsoumi, an energy and economics professor at Basra university in South Iraq.
Another well-known Iraqi expert, Hilal Al-Taan, told Shafaq news agency that Iraq's crude exports could be virtually come to a standstill if Hormuz is shut.
(Writing by Nadim Kawach; Editing by Anoop Menon)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Zawya
24 minutes ago
- Zawya
UAE, Saudi Arabia to see higher economic growth
The UAE and Saudi Arabia are expected to experience stronger economic growth, even as the ongoing Israel-Iran conflict introduces an element of uncertainty in the region, according to an analysis released on Friday. 'The UAE's economy is set to maintain its strong growth momentum, driven by rising oil output and robust activity in the non-oil sector, which is being supported by a loose fiscal stance,' said James Swanston, MENA economist at Capital Economics. In early June, Saudi Arabia urged OPEC+ to increase oil production, reversing voluntary cuts that had been in place over the past five years to support prices. Swanston noted that while the kingdom's higher oil output will likely boost GDP growth, it may also 'mask a slowdown in the non-oil sector as harsher fiscal consolidation measures take effect.' Saudi Arabia's non-oil GDP has averaged around 7% in recent years. The report added that higher oil output and prices could accelerate GDP growth across Gulf economies. However, for oil-importing countries in the MENA region, such as Jordan and several North African nations, an escalation in the conflict and a further spike in oil prices could strain their balance of payments. Oil prices have surged by more than $10 over the past week due to heightened geopolitical risks. (Writing by Brinda Darasha; editing by Daniel Luiz)
Zawya
44 minutes ago
- Zawya
Strong demand for the first sales launch of Jumeirah Golf Estates
Dubai, UAE: Wasl, one of Dubai's largest real estate developers, successfully launched the first phase of units at Jumeirah Golf Estates – The Next Chapter, with great demand for the Estate Homes at the Wasl Experience Centre. The Pinewood Estate Homes, featuring skylights and panoramic views exclusive to Jumeirah Golf Estates, attracted significant interest. Corner units with private pools and elevators were particularly popular for their elegance and comfort. This launch marks a major milestone for Jumeirah Golf Estates – The Next Chapter, a master development set to redefine Resort style living in Dubai. Spanning 4.68 million square metres, the project will deliver 12,345 residences across six districts. The initial release included spacious three- and four-bedroom Estate Homes with maid's rooms, ranging from 2,383 to 7,269 square feet. Mohamed Al Bahar, Director of Business Development at Wasl, stated: 'The enthusiastic buyer response to the Pinewood Village District at Jumeirah Golf Estates reaffirms the strong market appetite for premium, family-oriented communities in Dubai. This successful launch is a pivotal first step in bringing to life Wasl's vision for one of its most ambitious masterplans, designed to offer a holistic and lifestyle-driven community experience.' The Pinewood Village district caters to modern families with resort-style amenities like a country club, landscaped green spaces, cycling and jogging tracks and an elevated wellness center. The Estate Homes boast sophisticated designs with stone cladding, glass balustrades, porcelain tile flooring, veneered semi-solid doors, and natural wood-like cladding. The broader masterplan includes 1.5m sqm of green space, a new 18-hole golf course and academy, a five-star Mandarin Oriental resort, an international school, the region's largest tennis stadium, and a state-of-the-art equestrian centre. The development offers easy access to major roads and future connectivity to the Etihad Rail and Dubai Metro. The successful initial sales launch of Jumeirah Golf Estates – The Next Chapter demonstrates significant market interest in thoughtfully designed, integrated communities in Dubai. This positive reception sets a strong precedent for the subsequent phases of this ambitious masterplan, reinforcing Jumeirah Golf Estates' role as a notable destination for contemporary, integrated living in the region. About Wasl Wasl is one of the largest real estate development and management companies in the UAE and an integral part of the Dubai real estate fabric. It was established by the Dubai Real Estate Corporation (DREC) to oversee the management of its assets and grow its real estate portfolio. It operates an extensive portfolio of over 55,000 residential and commercial properties; 35+ hotels and hotel apartments; 5,500 land plots; 4 freehold master developments and 8 golf clubs. Wasl's commitment to delivering high-quality properties that meet the needs of a diverse range of tenants, investors, and visitors has helped establish them as a dominant force in driving socio-economic growth and contributing to the long-term prosperity of Dubai.
Zawya
an hour ago
- Zawya
Qatar accelerates push for food production in bid for sustainability
Doha, Qatar: The government is rapidly escalating its efforts to boost local food production and ensure long-term sustainability as part of its ambitious National Food Security Strategy 2030. Recent data from the Ministry of Municipality and Environment signals clear progress, with targets centered on self-sufficiency in vital food categories. Under the 2030 plan, Qatar aims for 55 percent self-reliance in vegetables, 30 percent in red meat, and 80 percent in fish, while achieving 100 percent self-sufficiency in dairy and fresh poultry production. As of 2024, more than 950 productive farms operate nationwide, and the area dedicated to organic farming has doubled. Last year, over 26 million kilograms of local vegetables were marketed by Mahaseel Company—reflecting a 98 percent increase in fresh vegetable output over five years. The livestock sector showed notable gains, including fresh milk with 97 percent, while red meat climbed steadily, and poultry now meets full domestic demand. Qatar's agricultural market is highly dynamic, valued at around $180m in 2025 and projected to grow at a compound annual growth rate of 5.5 percent to $235m by 2030. This doubling in output is underpinned by greenhouses, hydroponics, vertical farming, and aquaponics methods championed in government programmes. 'These are outcomes of meticulous strategy, investment in technology, and strong policy frameworks,' said Ibrahim Al‑Marri, a food security expert. 'We have improved self-sufficiency across critical food categories—from greenhouse vegetables to fish and dairy—by integrating modern irrigation, sustainable inputs, and strategic marketing support.' Efforts are being made to reduce groundwater usage. The country plans to cut water use per ton of crops by 40 percent by 2030 and expand treated sewage effluent (TSE) irrigation to 100 percent of fodder lands, up from 27 percent in 2019. 'The adoption of hydroponics, automated irrigation, and soil-less techniques is fundamental.' Al‑Marri said. 'We saw a 20 percent rise in domestic vegetable output in 2023 alone, supplied by smart greenhouses and vertical farms—critical in Qatar's arid climate.' On the other hand, regional collaboration plays a key role. Qatar chaired the GCC Agricultural Cooperation and Food Security Committee, where stakeholders discussed standards for sustainable hydroponic systems and regional food resilience. 'Qatar has also built a resilient food ecosystem that is technologically advanced and environmentally aware,' Al‑Marri stated. © Dar Al Sharq Press, Printing and Distribution. All Rights Reserved. Provided by SyndiGate Media Inc. (
