Iraq hopes oil reserves will exceed 160 bn barrels: minister

Baghdad (AFP) May 11, 2024

Iraq, one of the world's biggest oil producers, aims to boost its crude reserves to more than 160 billion barrels, Oil Minister Hayan Abdel Ghani said on Saturday. The minister's comment came during the launch of new licensing rounds for 29 oil and gas fields. According to the World Bank, Iraq has 145 billion barrels of proven oil reserves amounting to 96 years' worth of production at th