Monday, June 9, 2025
Iraq Expands Gas Projects to Curb Flaring
As part of Iraq's government-backed gas development programme, the Ministry of Oil has reported significant progress in reducing gas flaring and increasing gas utilisation.
It says the Ministry has raised associated gas capture from 53% to 70%, and dry gas production from 1,300 to 1,800 million standard cubic feet per day (mmscfd).
Key projects already completed or underway include:
The government aims to end routine flaring by 2028 and increase gas output to 3,000 mmscfd by 2030, aligning with Iraq's environmental commitments under the 2016 Paris Agreement.
In liquefied petroleum gas (LPG), production rose from 2 million tonnes in 2024 to 3 million tonnes in 2025. Exports also surged from 250,000 tonnes in 2023 to 1 million tonnes in 2025. LPG systems were installed in over 41,000 homes and more than 38,000 vehicles.
To expand storage capacity, the Ministry completed 8 of 16 spherical LPG tanks, each with a 3,000-cubic-metre capacity, adding 24,000 cubic metres overall.
The Ministry reiterated its commitment to maximise national resource utilisation, enhance electricity supply, and boost petrochemical production. Gas field contracts under the 5th and 6th licensing rounds have been awarded to international companies, alongside dozens of investment agreements to develop both associated and free gas resources.
(Source: Ministry of Oil)
TIDBIT FROM FRANK26
Frank26
Question: "Are we going to pay taxes on our dinar?" Of course you are.
In what world do you not pay taxes?
Seriously, stop.
You're dreaming if you think you're not going to pay taxes on something like this.
You're the backbone of the United States of America. You're the tax payer...How else do you think America pays its bills?
Etihad Law publishes New Guide to Sovereign Guarantees in Iraq
Etihad Law is proud to announce the publication of our new Guide to Sovereign Guarantees in Iraq.
This guide is a comprehensive introduction that highlights the key aspects related to obtaining sovereign guarantees and their role in promoting investment and encouraging major projects in Iraq's dynamic and evolving market. The guide has been prepared by the Etihad team in collaboration with legal advisors.
Iraq is experiencing a significant transition period, with a growing economy, diverse public and private sector projects, and reforms aimed at enhancing the investment environment and attracting international capital. As a strategic trade and investment hub in the region, Iraq offers significant potential in various fields, making sovereign guarantees an important tool for enhancing confidence and encouraging impactful investments.
We hope this guide will serve as a valuable resource, offering clear insights into the mechanisms of sovereign guarantees in Iraq and supporting investors in building and growing their businesses in this promising and opportunistic market.
Click here to download our comprehensive 44-page guide.
IRAQ STATUS: A BAN ON CASH PAYMENTS
IRAQ STATUS: A BAN ON CASH PAYMENTS
A ban on cash payments at government institutions will take effect early next month as part of Iraq’s push toward digital transformation.
Advisor to the Prime Minister, Salih Salman, told the Iraqi News Agency that the country has made significant progress in electronic payment systems, with bank accounts increasing to 22–23 million.
He added that Iraq is cooperating with around 30 foreign banks, reflecting deeper integration with the global financial system.
: Financial Times/ file
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