Iraq’s Oil Reserves Surpass 145 Billion Barrels
Iraq Amr Salem July 10, 2025 97 The Iraqi Minister of Oil, Hayan Abdul-Ghani, and other officials during their participation in the 9th OPEC International Seminar in Vienna, Austria.
Baghdad (IraqiNews.com) – The most recent figures for Iraq’s oil and gas reserves were publicly presented as part of the Iraqi government’s efforts to draw international investment to develop its hydrocarbon resources and play an important role in global energy markets.
During the 9th OPEC International Seminar in Vienna, the Austrian capital, Iraqi Oil Minister Hayan Abdul-Ghani announced that Iraq’s proven reserves exceed 145 billion barrels of oil and over 132 trillion cubic feet of natural gas.
Iraq’s oil and gas deposits represent untapped energy potential, and they provide
Iraq with an opportunity to play a critical role in maintaining the world’s energy stability, according to Abdul-Ghani.
Abdul-Ghani stressed that guaranteeing energy security in the next years will need a firm commitment from governments to support all sorts of energy projects.
Fossil fuels continue to be a key element in meeting the world’s growing energy demand,
as well as a critical driver for supporting infrastructure expansion and clean and sustainable energy projects, particularly in developing countries that require economic assistance to develop critical sectors such as health, education, and basic services.
Abdul-Ghani stressed that ongoing investment in oil and gas production projects is critical to ensuring global energy stability and inclusive economic growth.
The current level of investment does not match predicted demand,
particularly given the continued growing population globally and the ongoing industrial expansion.
The Iraqi oil minister urged governments to provide adequate financing to achieve an equilibrium in securing supplies from traditional energy sources like oil and gas and investing in sustainable energy.
Additionally, Abdul-Ghani recommended setting up shared sovereign funds, a risk guarantee scheme, and tax breaks to encourage private investment in energy projects. https://www.iraqinews.com/iraq/iraqs-oil-reserves-surpass-145-billion-barrels/