New Iraqi National Oil Company aims to produce 7 million bpd: oil minister

FILE PHOTO: Iraqi Oil Minister Jabar al-Luaibi speaks during a news conference in Basra, Iraq June 6, 2018. REUTERS/Essam Al-Sudani /File Photo

ERBIL, Iraq (Reuters) - Iraq is seeking to produce 7 million barrels of oil per day (bpd) through its newly established National Oil Company and to export 4 million bpd in 2019, Oil Minister Jabar al-Luaibi said on Saturday.

In an interview with state television, Luaibi said Iraq hoped to export 1 million bpd through Jordan’s Akaba port, without specifying a timeline. The burning of gas produced as a byproduct of oil extraction would stop by 2021, he said.

The northern refinery of Baiji was brought back online and is producing 70,000 bpd, Luaibi added.

Reporting by Ahmed Aboulenein; Editing by Adrian Croft