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Economy News - Baghdad
Iraqi Prime Minister Muhammad Shiaa Al-Sudani announced yesterday, Wednesday, that he will meet with dozens of American companies as part of efforts to boost investment in the gas sector.
Al-Sudani said in an interview with Bloomberg TV in New York: “My government is serious about investing in gas and in becoming an active and strong player in the market.”
Al-Sudani, who met US Secretary of State Anthony Blinken while he was in New York, said that the latter invited him to visit the White House, expressing his hope to do so by the end of this year.
Al-Sudani revealed that he met with American companies operating in the Kurdistan region of Iraq and wishing to move to the rest of the regions in his country, and that he intends to meet representatives of 31 other companies today. He indicated that his government also aspires to complete agreements with Emirati and Chinese companies, although he refused to give specific information in this regard.
Iraq aims to achieve self-sufficiency in gas production and export
Iraq is trying to reduce its dependence on Iran for obtaining gas, a measure that has become more difficult given that the harsh US sanctions on Iran make the payment process difficult. It is also spending billions of dollars to increase its gas production to avoid supply disruptions.
Al-Sudani stated that Iraq - the second largest oil producer in OPEC - wants to maintain stable oil prices “to ensure the interests of producers and consumers,” expecting the price of oil to not fall below a range ranging between 85 and 95 dollars per barrel.
He concluded: "Iraq is committed to achieving the voluntary goal that we agreed upon within OPEC."
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