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The Minister of Oil Participates in the Energy Market Forum in Fujairah

Mr. Al-Luiebi confirmed on the Iraqi aim to develop the oil industry by depending on the national efforts in association with the international well known investments

Mr. Jabbar Ali Hussein Al-Luiebi the minister of oil attended the energy market forum which was held in Fujairah, U.A.E at September the 19th  by the presence of the higher personalities and the concerned people with energy.

Mr. Al-Luiebi confirmed on the Iraqi aim to develop the oil industry by depending on the national efforts in association with the international well known investments.

Mr. Al-Luiebi said that the ministry of oil is working hard to develop the oil & gas industry in Iraq via its strategic plans which are implemented by the national efforts or by cooperation with the companies to rehabilitate and develop the producing oil fields in Iraq, as well as by making the geological survey to discover the new oil & gas reservoirs. And the ministry of oil gives a priority to the best investment of the associated gas with the oil operations, In addition to the petrochemicals industry to develop the infrastructure.

At the same time… Mr. Al-Luiebi said that Iraq needs the oil prices to be at the range of 55 to 60 $ for the single barrel to make Iraq in a better financial situation. He said also that Iraq in negotiating continuously with the producers inside & outside OPEC to find the appropriate solutions in order to face the glut of oil in the market and the challenges which are facing the oil market.

About the relation between the federal government and Kurdistan… Mr. Al-Luiebi said that the door of conversations is open with the brothers in the province to discuss all the problems according to the basic which says that the national wealth belongs to all the Iraqi citizens, and keeping it is a responsibility of everyone. And the national reconciliation should be considered highly.

It is worthy to say that the minister of oil met with many sheiks, princes, ministers and other personalities during the sidelines of the forum

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