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Economy News - Baghdad
Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani affirmed the government and the ministry's keenness to develop bilateral relations with Saudi Arabia in all fields, especially the oil, energy and petrochemical industries.
Abdul-Ghani said, during the meeting of the ministerial delegation visiting Saudi Arabia at the invitation of Saudi Energy Minister Abdulaziz bin Salman, that "the meeting affirmed the keenness of Iraq and the Kingdom of Saudi Arabia to enhance the prospects for bilateral cooperation between the two brotherly countries in a way that achieves common interests."
Abdul-Ghani referred to "activating, accelerating and converting memorandums of understanding into a practical reality on the ground that sets specific timings for implementation, including the gas investment project in Akkas and the Nebras petrochemical and electrical connection project, as well as gas investment projects in the southern fields, clean energy and others," calling on Saudi companies to "Investing in the oil and gas sector through the implementation of joint projects," while stressing that "Iraq seeks to provide a suitable environment for the work of Arab and international companies."
On cooperation and coordination with Saudi Arabia in OPEC and OPEC Plus, the Minister of Oil said, "Iraq supports the decisions and agreements of OPEC and OPEC Plus because they aim to achieve a balance between supply and demand, and lead to more stability in global markets."
For his part, bin Salman affirmed, "The invitation of the Deputy Prime Minister, Minister of Oil, and the ministerial delegation comes within the framework of the Kingdom's interest in strengthening relations with brothers in Iraq and working to accelerate the implementation of joint projects in several fields," calling for "the formation of joint committees to resolve the projects that have been agreed upon." Previously, it was involved in the sectors of gas investment, electrical connection and petrochemical projects.
He expressed the Kingdom's readiness to cooperate and establish joint projects in all sectors needed by Iraq, praising the human capabilities, minds and experiences that Iraq possesses, as well as its economic capabilities and natural resources, which are able to transform it into an important economic force in the region. And in the world."
Added 11/24/2022 - 7:13 PM
Updated 11/25/2022 - 2:02 PM
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