Sudanese calls on oil companies to invest in Iraq, 1 OCT

 Sudanese calls on oil companies to invest in Iraq, 1 OCT

Prime Minister Muqtada Al-Sadr emphasized the importance of completing the expansion and maintenance of Iraqi oil ports.

The office of Al-Sudani released a statement saying that Prime Minister Muhammad Shia’ Al-Sudani chaired a regular meeting to discuss the development of the oil sector. The meeting was attended by the Minister of Oil and other high-ranking officials of the ministry. The discussion included a review of the ministry’s projects related to gas investment, refineries development, and export systems. The ministry’s plan to increase production and improve wealth investment efficiency was also reviewed during the meeting.

The statement emphasized that the Prime Minister has urged the adoption of the “integrated project” principle for investing in oil and gas fields. This principle should include various projects for petrochemical refineries, gas industry, electric power production stations, chemical, and fertilizer industries. These projects aim to fulfill the urgent demand for them in local markets.

During the meeting, a review of the progress of work in refinery projects was conducted. The attendees emphasized the importance of completing these projects as quickly as possible to achieve self-sufficiency in oil derivatives and fuel. The successful operation of the Karbala refinery was also highlighted.

Al-Sudani instructed the Ministry of Oil to invite specialized refinery construction companies to invest in Iraq.

He emphasized the importance of finishing gas projects and investing in Iraqi fields that produce natural gas. This is necessary to supply power stations and national fertilizer factories with sufficient gas.

Al-Sudani emphasized the need to complete expansion and maintenance projects for Iraqi oil ports, storage, and drainage complexes across the country.

The director instructed to keep track of the progress made in implementing the ministry’s short-term and long-term plans. These plans aim to meet the local economic needs as well as the global demand for oil and oil products from Iraq in the near future. Additionally, the director emphasized the importance of highlighting Iraq’s significant and effective role in OPEC.

He emphasized the importance of completing projects on time and overcoming administrative and technical obstacles.