Iraq plans to end $4 billion in Iranian gas imports by 2028 as it diversifies beyond oil

BAGHDAD — Iraq's Prime Minister Mohammed Shia Al-Sudani said he hopes to end the country's $4 billion reliance on Iranian gas by 2028, in an effort to diversify the major oil-producer's economy. Decades of mismanagement, underinvestment and corruption have strained the power grid of Iraq, which is OPEC's second-largest oil producer after Saudi Arabia. Gas from Tehran fuels nearly a third of Iraq's electricity generation, yet frequent and prolonged outages remain common, forcing residents to rely on costly, polluting private generators. "We developed a clear vision to address this structural imbalance that affects our ability to generate and produce electricity and provide it to citizens," Al-Sudani told CNBC's Dan Murphy in Baghdad. The Prime Minister added that Baghdad had signed deals wi