2017/9/19 17:43
(Baghdad: Al-Furat News) Oil Minister, Jabar Ali al-Allaibi, stressed that Iraq needs oil prices between 55 and 60 dollars a barrel in order to reach a better financial situation.
"Iraq aims to develop the oil industry through the national effort and with the participation of global investments," the minister said in a speech at the Energy Markets Forumwhich was held Tuesday in Fujairah, UAE, in the presence of dignitaries and interested in energy markets. He added that "the ministry is seeking to develop the oil and gas industry in Iraq through the strategic plans set up and working to implement them through the national effort or cooperation with companies to rehabilitate and develop the oil fields produced in the country, as well as conducting a geological survey to detect the new oil and gas reservoirs, Pay great attention to the optimal investment of gas associated with oil operations and petrochemical industries and the upgrading of infrastructure. " "Iraq is in a dialogue with producers inside and outside the Organization of the Petroleum Exporting Countries to find appropriate solutions to confront the oil supply gap and the challenges facing the oil market," he said. On the relationship between the federal government and the Kurdistan Regional Government, al-Allaibi said that the door of dialogue is open with the region to discuss all the outstanding problems according to the principle that national wealth belongs to all Iraqis and that the preservation and development of it is the responsibility of everyone and we must put the national interest and preserve national wealth above all considerations. The oil minister met with a number of sheikhs, princes, ministers and dignitaries on the sidelines of the conference
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