Iraq ranks fifth among top 10 oil producers in 2022
Shafaq News/ Iraq ranked fifth among the world's top 10 oil-producing countries in 2022, as revealed by Italian oil company Eni.
Eni's data showed that Iraq stood at the fifth spot as a top global oil producer, churning out 4.554 million barrels, with a compound growth rate of 5.4%. This marks an increase of 10.2% from 2021, which saw production levels at 4.132 million barrels, and a 9.8% rise from 2020's 4.148 million barrels.
The United States led the chart with an oil production of 17.850 million barrels in 2022, followed by Saudi Arabia in second place producing 12.416 million barrels. Russia took the third position, producing 11.088 million barrels, while Canada stood fourth with a production of 5.757 million barrels.
The United Arab Emirates ranked sixth, with 4.190 million barrels. China followed with 4.177 million barrels. Iran stood eighth with 3.577 million barrels, Brazil ninth producing 3.119 million barrels. Kuwait, in the tenth spot, produced 3.013 million barrels in 2022.
Al-Sudani affirms open investment opportunities in pharmaceutical sector
Shafaq News / Iraq's Prime Minister Mohammed Shia Al-Sudani emphasized that the investment landscape within Iraq's pharmaceutical production sector is now open for prospective investors.
The statement from Al-Sudani's office outlined his chairing of a meeting that included representatives from "Synagine Group" for cancer drug production, "Pakster" for renal dialysis solutions, officials from the National Health Factory within the Ministry of Health, and several advisors. The discussion focused on mechanisms to support the localization of the pharmaceutical industry in Iraq, involving both private sector collaboration and the National Health Factory.
During the meeting, Al-Sudani was briefed on detailed presentations showcasing the capabilities of the companies and their accomplishments in other countries. These companies expressed their readiness to transfer knowledge and technology to Iraq, in addition to supporting the establishment of a pharmaceutical industrial city that would attract companies interested in drug manufacturing. He emphasized that investment opportunities within the pharmaceutical industry are open to all companies, signaling the promising prospects in this sector.
Furthermore, the Prime Minister stressed the importance of full technology transfer throughout the stages of drug production. He emphasized that pharmaceutical factories should not limit their involvement merely to packaging and labeling, but should also actively contribute to the production process.
Al-Sudani warmly welcomed companies interested in operating within Iraq's pharmaceutical sector, an area of heightened government interest. He highlighted a series of earlier meetings with local and foreign producers, which resulted in a comprehensive set of measures. These measures include facilitating registration procedures, customs exemptions, and tax benefits for raw materials, equipment, and essential devices used in medical product manufacturing. The government is also prepared to ease loan provisions for establishing factories and expanding production lines.
The Prime Minister pointed to the pioneering and successful partnership between the private and public sectors, epitomized by the National Health Factory.
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