The Minister of Oil confirmed Iraq commitment to export all its determined quota in compliance with OPEC+ pact and to work with members of the organization and its allies to achieve a balance in the global markets. This came during H.E chairing of the monthly oil pricing meeting.
The Minister of Oil, Ihsan Abdul-Jabbar Ismail, said that Iraq aims to increase its production and export capacities in the coming years, by promoting investments in the oil and energy sector, noting the importance of investments in maintaining and strengthening Iraq position among producing countries, and maintaining its influential position in the energy market.
The Minister of Oil stressed that Iraq is committed to support global investments in the oil and energy sector and to meet its financial and contractual obligations, adding that the Ministry is increasing its efforts to expand the area of free and associated gas global investments, as the plans of the ministry aims to achieve this in cooperation with reputable international companies.
The Iraqi oil pricing meeting is to be held on a monthly basis, chaired by the Minister of Oil and in the presence of Under-Secretaries of the Ministry, the Director General of SOMO, the Directors General of the Internal Control directorate, Economic Directorate, the Studies, Planning and Follow-Up Directorate, the Technical Directorate, Contracts and Petroleum Licenses Directorate, and the relevant entities and departments of SOMO.