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The Minister of Oil Meets with the Special Representative of the World Bank’s Delegation.

The Delegation of the Transparency Initiative

   Mr. Jabbar Ali Hussein Al-Luiebi the minister of oil met with the special representative of the World Bank’s delegation to Iraq Mrs. Yara Salim, in addition to her escort entourage “the delegation of the transparency initiative”.

   The two parties discussed during the meeting about strengthening the bilateral cooperation in the oil & gas sector.

   Mr. Al-Luiebi said that the ministry of oil is working according strategic plans & projects to stop the flaring of the associated gas with the oil operations. While great accomplishments were achieved in order to stop the gas flaring in the middle of 2021 in order to transform it into a useful energy to be used in the power stations and the petrochemicals factories, in addition to the other industries. And to invest the surplus gas in order to achieve financial outcome to the federal budget by exporting it to the international market.  

   Mr. Al-Luiebi said that many companies have presented their offers to invest in the gas sector and the offers are being studied and researched by the ministry of oil. He said also that the ministry is planning to build (4) gas factories in the southern governorates. He also confirmed that the gas investment is one of the work priorities of the ministry.  

   Mrs. Salim praised the cooperation between the ministry of oil and the World Bank and the delegation of the transparency initiative via the accurate data which is being presented by the ministry which reflects the work transparency of the ministry. She also confirmed on the support of the World Bank to the strategic projects to invest gas, in addition to the other energy projects.

Source: Ministry of Oil

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