Iraqi PM visits Houston to discuss Iraq’s future in oil and gas

Houston (IraqiNews.com) – Iraqi Prime Minister Mohammed Shia Al-Sudani recently visited Houston, Texas, as part of an official visit to the United States.

Al-Sudani participated in a round table discussion with big US firms specialized in the oil and gas industry. The Arab-American Bilateral Chamber of Commerce hosted this conference, which highlighted Iraq’s commitment to forming strategic alliances on a global scale. Participating firms included Total Energies, Weatherford International, KBR, Schlumberger Limited (SLB), Khudairi Group, and others.

Prime Minister Al-Sudani articulated a vision characterized by collaboration and openness across various domains of engagement with the United States. Following fruitful dialogues, including a meeting with President Biden, the foundation for a robust partnership was laid, one that promises mutual benefit and shared prosperity.

“We came up with a vision for the shape of the relationship with the United States, after the understandings and the meeting with President Biden, that it be based on partnership and openness in all fields,” said Al-Sudani.

Al-Sudani unveiled ambitious plans to shift 40% of the nation’s exports towards value-added oil derivatives. Iraq also aims to reduce the $4 billion it spends annually on gas imports and lessen the negative environmental effects of gas flaring, realizing the cost to the environment.

Iraq wants to transform its energy environment by embracing efficiency and sustainability, and it plans to do it by forming strategic collaborations with multinational companies such as Total and Honeywell.

“Our plan is to stop burning gas through a contract with Total, which is a strategic step, and we encourage Honeywell and all companies to implement similar contracts,” said Al-Sudani.

A major step forward in international cooperation was revealed by the Prime Minister, who revealed intentions to build a petrochemical and refinery complex in the Ain Sokhna area of Egypt. Additionally, the initiation of the Basra-Haditha project’s first phase highlights Iraq’s will to improve export infrastructure, strengthening its standing in the world energy network.

“We developed an idea to establish a complex for petrochemicals and refineries in Ain Sokhna, Egypt, and now we have begun implementing the first phase (Basra – Haditha), which will serve us with flexibility in transporting exports,” said the Iraqi premier.

Al-Sudani mentioned that Iraq solidified its commitment to international partnerships by announcing a landmark agreement with a Chinese firm. The proposed construction of the Al-Faw refinery, boasting a daily capacity of 300,000 barrels.