Wednesday, July 6, 2022

Baghdad

Iraqi Oil Ministry to increase oil and gas investments

 Iraqi Oil Ministry to increase oil and gas investments

Iraqi Minister of Oil Ihsan Abdul-Jabbar Ismail. Iraqi Ministry of Oil image.

Baghdad (IraqiNews.com) – Iraqi Minister of Oil, Ihsan Abdul-Jabbar Ismail, confirmed on Monday the acceleration of gas and clean energy investment plans, during his speech in the 29th Middle East Petroleum & Gas Conference (MPGC) held in Manama, Bahrain.

 According to a press statement issued by the Iraqi Ministry of Oil, Ismail emphasized the acceleration of implementing plans and projects related to free gas, to reduce the dependence on fossil fuel in order to maintain a clean environment and reduce emissions harmful to climate.

During his speech in the 19th MPGC, Ismail explained that the past period witnessed several projects in oil and energy infrastructure through important contracts with experienced international companies.

Ismail indicated that Iraq is eager for the stability of the international market of oil, and keens on cooperation with member countries of OPEC+ to develop common visions and appropriate strategy to face the challenges in the oil market, to restore balance to the market and maintain the gains achieved in past period.

The Iraqi Minister of Oil stressed the importance of enhancing the relations with close countries, and working to expand cooperation horizons to serve common interests.

The 29th MPGC held in Bahrain opened with the participation of several oil and energy ministers as well as experts and officials in the oil and energy industry.