Iranian Petroleum Minister confirms Iran, Iraq share same views on OPEC
The Majnoon oil field in southern Iraq. Photo: AFP
Baghdad (IraqiNews.com) – The Iranian Minister of Petroleum, Javad Owji, expressed gratitude on Wednesday to Iraqi authorities for reducing oil production, indicating that both countries had the same views on OPEC and the larger OPEC+ group, which includes allies like Russia.
Owji’s remarks took place during a ceremony held in the Iranian capital, Tehran, to sign agreements with the Iraqi Minister of Oil, Hayan Abdul-Ghani.
“Iraq and Iran share the same stance regarding OPEC and OPEC+,” Owji said.
The Iranian minister elaborated that he discussed further issues related to OPEC and OPEC+ with his Iraqi counterpart and the accompanying delegation.
As part of a voluntary agreement by members of the OPEC+ group, Iraq has stated that it will start voluntarily reducing its oil output by 220,000 barrels per day (bpd) from the beginning of January until the end of March.
The two sides agreed to form specialized committees, including a committee tasked with developing joint oil and gas fields in accordance with international norms to guarantee the rights of each party and a joint committee responsible for the utilization of natural gas, petrochemical industries, and renewable energy, in addition to a third committee tasked with rehabilitating and developing oil refineries.
Abdul-Ghani explained that cooperation will also take place in areas such as oil marketing, pipelines, and exploration.
Owji expressed optimism that the development of shared oil and gas fields will start shortly.