EU ambassador to Iraq: Importing Iraqi oil good choice
An oil refinery in Iraq. Photo: Reuters
Baghdad (IraqiNews.com) – The ambassador of the European Union to the Republic of Iraq, Ville Varjola, stated on Sunday that the European countries are looking for new partners and alternatives to import oil, indicating that importing Iraqi oil is a good choice, according to the Iraqi News Agency.
“There are changes in the oil market according to supply and demand, and there is a significant impact of the Russian-Ukrainian war on economies,” Varjola explained.
“The Iraqi economy has many potentials and opportunities, and it is a diverse economy,” Varjola clarified.
The EU ambassador to Iraq elaborated that the EU supports and urges the Iraqi government to significantly improve the application of the White Paper, and it is important to complete these tasks by the new government.
According to the Washington Institute for Near East Policy, Iraq’s White Paper includes several measures to develop and reform the country’s oil and gas industry, moving towards natural gas. These steps will help increase efficiency and production, explore untapped resources and diversify Iraq’s fossil fuels industry more towards natural gas.
The State Organization for Marketing of Oil (SOMO) previously revealed that France asked Iraq to supply the European market with oil.
The head of SOMO, Alaa Al-Yasiri, mentioned earlier that the company is the only entity responsible for exporting oil and importing its derivatives, explaining that SOMO is a link between the Ministry of Oil and the oil beneficiaries.