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a new Arab customer enters the Iraqi oil and gas market[/size]
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3 hours ago
a new Arab customer enters the Iraqi oil and gas market[/size]
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3 hours ago
The Algerian Oil Ministry will consider possible investments in oil exploration projects and natural gas projects in Iraq, the Iraqi Oil Ministry said in a statement on Sunday.
The statement quoted comments by Iraqi Oil Minister Jabbar al-Luaibi and Algerian Energy Minister Mostafa Qaituni, who arrived in Baghdad on Sunday.
He said that the Algerian delegation "will meet with all officials of the national oil companies and the departments concerned in order to expand the circle of cooperation and partnership they seek."
The Iraqi oil minister expressed his hope "to achieve concrete steps towards a partnership partnership with Sonatrach," referring specifically to projects to develop the gas industry "and the optimal investment of this wealth."
Iraq continues to burn some of the gas associated with the extraction of crude oil in its fields because it lacks the necessary facilities to treat it and turn it into fuel for domestic consumption or export.
Algeria is a major supplier of gas to Europe, exported through pipelines, and also shipped in tankers after liquefaction at private stations.
Qitouni expressed his hope to strengthen cooperation in the exploration of oil and in the natural gas sector, according to a statement by the Iraqi Oil Ministry.
Iraq, OPEC's second largest oil producer after Saudi Arabia, produced 4.4 million bpd. Algeria, also a member of the Organization, is estimated to produce 1 million barrels a day.
The statement quoted comments by Iraqi Oil Minister Jabbar al-Luaibi and Algerian Energy Minister Mostafa Qaituni, who arrived in Baghdad on Sunday.
He said that the Algerian delegation "will meet with all officials of the national oil companies and the departments concerned in order to expand the circle of cooperation and partnership they seek."
The Iraqi oil minister expressed his hope "to achieve concrete steps towards a partnership partnership with Sonatrach," referring specifically to projects to develop the gas industry "and the optimal investment of this wealth."
Iraq continues to burn some of the gas associated with the extraction of crude oil in its fields because it lacks the necessary facilities to treat it and turn it into fuel for domestic consumption or export.
Algeria is a major supplier of gas to Europe, exported through pipelines, and also shipped in tankers after liquefaction at private stations.
Qitouni expressed his hope to strengthen cooperation in the exploration of oil and in the natural gas sector, according to a statement by the Iraqi Oil Ministry.
Iraq, OPEC's second largest oil producer after Saudi Arabia, produced 4.4 million bpd. Algeria, also a member of the Organization, is estimated to produce 1 million barrels a day.
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