Iraq, Saudi Arabia to advance ties in the fields of energy and oil
Iraqi Minister of Oil Hayyan Abdul-Ghani (Left) and Saudi Energy Minister Prince Abdulaziz bin Salman.
Riyadh (IraqiNews.com) – Saudi Minister of Energy, Prince Abdulaziz bin Salman Al-Saud, recently hosted Iraqi Minister of Oil, Hayyan Abdul-Ghani, in Riyadh, Saudi Arabia. The two discussed on advancing bilateral ties between Iraq and Saudi Arabia in the fields of energy, petrochemical, and oil.
Abdul-Ghani emphasized the significance of accelerating the implementation of Memorandums of Understanding (MOUs) and turning them into tangible outcomes on the ground, including the Akkas gas project in the Al-Anbar province, the Nebras petrochemical project in the Basra province, the electrical connection with the Gulf Cooperation Council (GCC), the southern fields gas investment project, and clean energy projects.
According to Iraq’s Ministry of Oil, Prince Abdulaziz bin Salman urged Saudi businesses to engage in Iraq’s oil and gas industry by carrying out joint projects, emphasizing that Iraq aims to create a favorable environment for the operation of Arab and foreign businesses.
Prince Abdulaziz bin Salman also highlighted that Iraq has the natural resources and economic potential to become a significant economic power in the region and the globe.
Regarding cooperation and coordination with the Kingdom in OPEC and OPEC Plus, Abdul-Ghani stated that Iraq supports OPEC and OPEC Plus decisions and agreements as they seek to create a balance between supply and demand and increase market stability globally.
Aramco, SABIC, ACWA Power, and other Saudi organizations were among those with which the Iraqi ministerial delegation met.