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Back|Iraq seeks to raise oil production rates to 10 million barrels per day
Iraq seeks to raise oil production rates to 10 million barrels per day
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الشرق الأوسط·21 minutes ago·Business·2 min read·🇦🇷Argentina·

Iraq seeks to raise oil production rates to 10 million barrels per day

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Iraqi Prime Minister Ali Faleh al-Zaidi renewed his country's quest to raise oil production to 10 million barrels per day by 2030, while Gabon seeks to revive a minerals project, and Anthropic is investing $3.4 billion in power generators for its data centers.

AI-generated summary

Why It Matters

Iraq is seeking to raise oil production as part of development plans, while Gabon is trying to revive a faltering mining project.

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On Sunday, Iraqi Prime Minister Ali Faleh al-Zaidi renewed the government’s endeavor to raise the rate of crude oil production to 10 million barrels per day by 2030.

An Iraqi government statement quoted Al-Zaidi as saying, during his visit to Anbar Governorate and his meeting with his senior aides, that this would contribute to strengthening the national economy and supporting the wheel of development in Iraq.

The Iraqi Oil Minister, Bassem Muhammad Khudair, announced, on Saturday, that Iraqi crude oil production rates exceeded 5 million barrels per day, and that Iraq has a maximum sustainable production capacity that far exceeds the production ceiling currently set for it within the agreements of the Petroleum Exporting Countries (OPEC).

The Ministry of Oil is working to implement plans in cooperation with major American and foreign companies to develop oil fields and increase production capacities in the coming years.

Al-Zaidi called for sending invitations to international companies specialized in phosphate and glass to invest in this important sector, maximize the benefit of national wealth, and support the economy.

Gabon is seeking to revive the "Maboni" project for niobium and rare metals, which has been stalled for a long time, through a proposed development project worth two billion dollars, which includes the "New Energy Metals" company supported by the UAE, and the Chinese "Envy" engineering group.

New Energy Metals and its subsidiary, Dusk Gabon, presented a technical study for the project to President Brice Cloutier Oligy Nguema during his visit to Beijing last week, according to a statement published on the presidential page on the Facebook platform.

If the project is approved, it is expected to provide more than 2,500 direct job opportunities and include processing facilities in the Central African country. Construction work is scheduled to begin in 2027.

It is noteworthy that the “Maboni” project, which is located about 200 kilometers southeast of Libreville; The capital of Gabon, it has been under exploration for years, but has not reached the stage of commercial production.

The Financial Times reported in a report on Sunday that Anthropic, a startup in the field of artificial intelligence, had concluded a deal worth about $3.4 billion to provide gas-powered power generators for its data centers.

The report stated that in late September, the company obtained commitments to supply high-capacity power generators with a total of 1.7 gigawatts from One Power Solutions, an equipment supplier headquartered in San Antonio, Texas.

The report added, citing an informed source, that “Anthropic” did not acquire the “One Power Solutions” company itself, nor did any of the supplier’s employees move to the startup company, but the deal included providing the engineering and construction capabilities necessary to install these generators.

Strong demand for Anthropic's Cloud AI models has prompted the company to seek additional computing and energy capabilities.

Reuters reported last September that Anthropic expects to spend more than $500 billion over the next 10 years to create artificial intelligence infrastructure.

What to Watch

AI outlook — possibilities, not facts

  • Construction work on the Maboni project in Gabon will begin in 2027.

    Possible · Within years

Open Questions

  • ?Will OPEC agree to increase Iraq's production share?
  • ?What technical challenges might the Maboni project face?

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This article was originally published by الشرق الأوسط.

Quick Look

Iraqi Prime Minister Ali Faleh al-Zaidi renewed his country's quest to raise oil production to 10 million barrels per day by 2030, while Gabon seeks to revive a minerals project, and Anthropic is investing $3.4 billion in power generators for its data centers.

AI-generated summary

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Neutral
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High
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Moderate
Follow-up likelihood
Likely
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الشرق الأوسط
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Hard news
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Full
Published
21 minutes ago
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Oil
Iraq
Gabon
Oil
Ali Faleh Al-Zaidi
Bassem Muhammad Khudair
Brice Cloutier Olighi Nguema
OPEC
New Energy Metals
Anthropic
One Power Solutions
Anbar
Gabon
Libreville
San Antonio
Iraq
Gabon
Artificial intelligence
Anthropic
Economy

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