Former Chairman Of The Energy Committee, 12 JAN

 Former Chairman Of The Energy Committee

Iraq's oil is the most resilient in the future of the world and the greatest danger is the Strait of Hormuz.. Adnan Al-Janabi

The former Chairman of the Parliamentary Energy Committee, Adnan Al-Janabi, confirmed that Iraqi oil is safe as long as the sea corridor through the Strait of Hormuz is stable, while he stressed that Iraq is the last country that will be affected by reducing global dependence on oil in the future, due to its large reserves and low production costs.

Iraq's oil is the most resilient in the future of the world and the greatest danger is the Strait of Small

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Adnan Al-Janabi in an interview with journalist Haroun Rashid, followed by Network 964:

In light of everything the region is going through security-wise and militarily, the only frightening thing that could affect oil in the world, and not just in Iraq, is if any security destabilization occurs in the Arabian Gulf region, especially in the Strait of Hormuz.

Iraqi oil, within its OPEC quota, can currently guarantee exports from the southern port alone across the Gulf, even if this is not true from a strategic standpoint. It is necessary to work on adopting multiple ports lest what happened with the Turkey line be repeated, and the port most likely to be approved in this regard is the Aqaba port. Through Jordan .

Regarding future plans, Iraqi oil is one of the least depleted in the world, and it is the least expensive to extract, but this means that if we cannot keep up with reserves and export rates, there will come a time within a decade or more, when the demand for oil decreases, by moving from fuel.

From fossil fuels to alternative energy, we will face a question: Who will continue to export? The answer is clear, as whoever produces oil at the lowest costs and has large reserves will find it easier to export.

Despite the advantages and problems mentioned, Iraq must prepare and develop its production and export capabilities in preparation for the future, in addition to not stopping investment in the oil sector, so that we are ready for that moment when export restrictions are lifted and we have a production capacity of up to 6 million barrels per day.   https://964media.com/292187/