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Iraq Ministry of Oil News: The Minister of Oil: Iraq is Keen to Succeed the Agreement of OPEC to Cut Production

Mr. Allibi presented a detailed presentation about the fact of oil & energy in Iraq and the challenges which are facing the oil industry in there


   The work sheet which was presented by Mr. Jabbar A. Allibi the minister of oil during the annual energy forum in Abu-Dhabi, took a considerable attention by the economic entities and the concerned authorities with the energy affairs for its visions about the future of energy in Iraq, the region and the world.

   Mr. Allibi presented a detailed presentation about the fact of oil & energy in Iraq and the challenges which are facing the oil industry in there, as well as the visions & future plans to develop it, in addition to the leading role of Iraq on the region and the world, as well as its efforts to achieve balance in the global market.

   Mr. Allibi said that Iraq is keen to succeed the agreement of OPEC to cut production. He said also that Iraq is committed with the chapters of the agreement and started to implement it since the beginning of the year. The Iraqi production cut was (170) thousand barrels / day from the oil fields and supposed to be (210) thousand barrels with the end of January in-spite of the challenges which are facing the oil industry and the difficulties which are facing the Iraqi economy because of its battles "on behalf of the region & the world" against the terrorist gangs of ISIS.

   Mr. Allibi was comfortable with the results of the participation in the forum and the meetings which was held on the sidelines of the work agenda which was an opportunity to clear the ambiguity & confusion from the Iraqi oil industry, as well as the investment opportunities in the oil projects and the Iraqi keenness to provide the safe environment to invest in the oil sector. And the presence of the well-known global companies to develop the oil fields is the perfect clue for that.

   "On the sidelines of the forum" Mr. Allibi held several meetings with the ministers of oil & energy, in addition to the general secretary of OPEC and the heads of the global oil companies. He discussed with them about the cooperation & the associated coordination, in addition to the invitation of the global companies to invest in the development of the sectors of the oil, gas, refining and the infrastructure, in addition to the establishment of associated companies to achieve the ambitions of the ministry. He also demanded the media to be accurate in publishing the related information with the oil activity "especially the production & exportation which are published only through the minister of oil or the spokesman of the ministry". Otherwise no other information can be depended because the ministry is keen to publish the accurate information and because some media and some authorities have distorted the numbers "for well-known reasons".

   It is worthy to mention that the Atlantic American council "in cooperation with the ministry of energy & the national petroleum companies of Abu-Dhabi" organized the global energy forum which was held in the United Arabic Emirates and lasted for two days. The Atlantic council is organizing this forum "for the first time" in the Arab Gulf by the participation of the leaders and the effective personalities in the energy sector worldwide to discuss the most urgent cases of energy and the way to fix them.

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