Iraq's oil exports through the Strait of Hormuz dropped sharply to 10 million barrels in April due to the regional war from the previous monthly level of around 93 million barrels, newly-inaugurated Oil Minister Basim Mohammed Khudhair said Saturday.
According to a statement by the oil ministry, Khudhair said during a ceremony marking his assumption of office that the government's strategy focuses on collaborating with foreign firms to enhance domestic production capacity, train technical and engineering personnel, and build the best infrastructure for the oil sector.
He said efforts will be made to develop the oil industry to achieve sustainable development and support the country's economy, especially since the oil sector is the backbone of the federal budget.
In addition, Iraq will increase flows through the Kirkuk-Ceyhan oil pipeline to Türkiye, said Khudhair.
Iraq plans to talk with the Organization of the Petroleum Exporting Countries (OPEC) to boost the country's production and export capacity, hoping its production capacity will reach 5 million barrels per day, said the minister.
Iraq's economy relies heavily on crude oil exports, which account for about 90 percent of the country's revenues.
Khudhair's remarks came two days after the parliament approved him as part of new Prime Minister Ali al-Zaidi's cabinet.
Iraq's oil exports via Hormuz Strait plummet to 10 mln barrels in April amid war: minister
Improved ties between China and the United States will not only benefit the two countries but also the whole world, said Brazilian scholars on Thursday.
U.S. President Donald Trump concluded a three-day state visit to China on Friday, the first such U.S. presidential visit in almost nine years.
In this historic meeting that was closely watched by the world, Chinese President Xi Jinping and Trump agreed on Thursday to build "a constructive China-U.S. relationship of strategic stability."
Another key outcome of the meeting is an agreement to expand two-way trade under a reciprocal tariff reduction framework and to establish a trade council and an investment council, China's top diplomat Wang Yi said on Friday.
Prior to departing the Chinese capital on Friday, Trump said his state visit has captured the world's attention and described it as very successful and unforgettable.
He also said that he warmly looks forward to hosting President Xi in Washington, D.C.
"So, I believe that President Xi's words are correct, because through diplomacy, the issue has been resolved peacefully. I believe that these two countries, as the major countries of this century, must resolve not only their differences, but also try to help resolve all conflicts in the world through dialog and diplomacy. I believe the main thing that threatens the relationship between the two presidents is economy as the two countries are the major economies in the world. I believe they can manage the differences to achieve results in that area," said Nathan Bastos Xavier, a physics researcher, in an interview with the China Global Television Network (CGTN) in Sao Paulo.
"There is no doubt that maintaining good relations with China benefits not only the United States but also the entire world. The U.S. leader's visit to China has been reported by the Brazilian media as a visit between two great countries or two of the world's great leaders. It is undeniable that there are now two great leaders and two great countries, in my view," said Gabriel Guarino S.L. de Almeida, an anthropologist, in a separate interview with the CGTN in Sao Paulo.
Improved China-U.S. ties to benefit world: Brazilian scholars
