Three trillion dinars annually: A parliamentary plan reveals Iraq’s path towards oil self-sufficiency.
On Tuesday (January 13, 2026), MP Mudhar Al-Karawi presented a comprehensive strategic vision regarding the expansion of oil refineries in the country, stressing that it would support the general budget by no less than three trillion dinars annually, and contribute to creating three positive dimensions for the national economy.
Al-Karawi said in a press statement: “Expanding oil refineries in Iraq represents a strategic option with significant dimensions, based on approved technical and economic plans. Therefore, we adopt this path because it achieves three main objectives, most notably enhancing energy security, reducing dependence on imports, and maximizing the added value of crude oil.”
He adds that “this approach also contributes to supporting the national economy and protecting the country from fluctuations in global oil prices, especially since the oil derivatives market is one of the most important and fastest growing markets in the region and the world.”
Al-Karawi pointed out that “attempts to cast doubt on this program are not based on any sound scientific or economic data, and therefore it is necessary to move forward with this file because it reflects a true understanding of energy and oil industry policies, and is consistent with the requirements of long-term strategic planning that the state should adopt.”
He stressed that “expanding refineries and increasing their production capacity can contribute to supplying the treasury with revenues of at least three trillion dinars annually, which makes this program not a circumstantial option or an individual effort, but rather a fundamental pillar for achieving economic and political stability, and an important part of the comprehensive national security system.”
On January 9, 2026, economist Nabil Al-Marsoumi confirmed that oil prices had risen significantly due to escalating concerns about supplies from Iran.
Al-Marsoumi stated in a Facebook post that “the price of Brent crude rose to $63 as a result of concerns about disruptions to Iranian supplies, which produce 3.3 million barrels per day and export more than one million barrels.”
He added that “oil prices could see a significant increase if the current demonstrations and protests in Tehran turn into a military clash between Iran and both the Zionist entity and America, as happened in the last war.”
He added that “the global energy market could be severely shaken if Iran targets Gulf oil facilities or the Strait of Hormuz, because geopolitical tensions would directly affect supplies, as the region currently exports a third of global exports and a fifth of gas exports.”
Burathanews.com
On Tuesday, the acting US ambassador to Iraq, Joshua Harris, praised the role of Kurdish leader Masoud Barzani in supporting the Iraqi political process and calming tensions in Syria, while stressing that there is “no place” for what he called “Iranian-backed terrorist militias” in the next Iraqi government.
On Tuesday, the administration of US President Donald Trump decided to designate the branches of the Muslim Brotherhood in Lebanon, Egypt and Jordan as “terrorist organizations”.
An informed source revealed on Tuesday that the Shiite Coordination Framework forces will hold their periodic meeting early next week to decide on the nomination of State of Law Coalition leader Nouri al-Maliki for the position of Prime Minister in the new government.
The president of the Institute for Global Policy in Washington, Paulo Van Schirach, ruled out the possibility that US President Donald Trump would stand idly by in the face of the crackdown on protests in Iran, suggesting that a US military strike against “sensitive” targets inside Iran was likely, despite his warning of the risks of a retaliatory response that could affect US bases in Iraq and the Gulf.
The U.S. Energy Information Administration announced on Tuesday that Iraq’s oil exports to the United States totaled more than 7.5 million barrels during December.
The acting US ambassador to Iraq, Joshua Harris, affirmed on Tuesday that the Kurdistan Region is a strong and pivotal partner and ally of the United States in the region.
On Tuesday, MP Ibtisam al-Hilali, from the State of Law parliamentary bloc, confirmed that the leader of the State of Law coalition, in his capacity as the next prime minister, will cancel all decisions issued by the caretaker government headed by Mohammed Shia al-Sudani recently.
The Ministry of Finance announced on Tuesday that Iraq has achieved the second highest improvement globally in international governance indicators. The ministry stated in a statement that “Iraq has achieved a new international achievement within the World Governance Indicators (WGI) report issued in December 2024, according to Fitch and Standard & Poor’s agencies, as Iraq recorded the second highest improvement globally on an annual basis, reflecting the success of the reform steps adopted by the government in state institutions.”
The Ministry of Transport announced on Tuesday that the Grand Faw Port has entered an advanced stage of preparations for commercial operation following the completion of its main berths for receiving cargo ships. Ministry spokesperson Maitham al-Safi told the official news agency that “the Grand Faw Port has entered an advanced stage of preparations for commercial operation after the completion of the main berths for receiving commercial vessels.” He added that “work is currently underway to finalize the necessary infrastructure for the port’s commercial operation and complete maritime connections with regional and international ports to ensure international competitiveness.” He pointed out that “the government is giving great attention to selecting port operators with outstanding international experience and qualifications,” explaining that “the Ministry of Transport has worked with international consulting firms and possesses the specialized expertise that qualifies it to select competent operators with world-class standards.” He continued, stating that “the first phase of the port’s operation will have a capacity of 3.5 million containers annually.”