Iraq Sees Rise in Natural Gas Production and Condensate Availability

SEATTLE (Oil Monster): Iraq’s Deputy Prime Minister for Energy Affairs and Minister of Oil has announced a rise in natural gas production and the implementation of associated gas capture projects in the country. This news was shared in a statement issued on Wednesday.

The initiatives, which aim to cut back on flaring and meet local energy demands, have resulted in a significant availability of condensates. The volume of these condensates, a form of ultra-light oil, has reached approximately 160,000 barrels per day, according to the statement from the Iraqi oil ministry.

Condensate is typically processed at splitters to generate petrochemical feedstock naphtha or is used as a diluent for heavy crude oil. The statement also revealed that the majority of the produced condensates are blended with crude oil to improve their specifications.

This surge in condensate production signifies a substantial step in Iraq’s strategy to optimize its energy resources. It also reflects the country’s commitment to reducing environmental impact through better gas capture and use.

 Courtesy: www.investing.com