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Floating Oil Island will increase Iraqi Oil Exports: Oil Ministry

Floating Oil Island will increase Iraqi Oil Exports: Oil Ministry

The SOC (Basra based South Oil Co.) will build a floating oil island off the coast of Al-Faw Peninsula to enhance its capacity of export by more than 2 million barrels per day. The company has announced the project in the prospect of a growth the exports of Iraqi oil to reach more than 5 million barrels a day. Point to be noted that OPEC approved on 23rd June an increase in crude oil production to fulfill the increasing demand….

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