At the ‘Baghdad Energy Forum’ held in the Iraqi capital, the Sudanese official stated that Iraq is a key member of OPEC and possesses confirmed reserves of 150 billion barrels, placing it among the top ranks globally. This signifies that Iraqi oil will continue to supply global markets for over 120 years, even at conservative estimates, which underscores Iraq’s commitment to maintaining a fair balance between the rights of producers and consumers.
The Sudanese official also emphasized openness to welcoming oil companies interested in investing in oil and gas, with preferential procedures for major companies according to the country’s higher interests. He noted that Iraq is working on diversifying export outlets for crude oil and petroleum products, and as part of this effort, talks were held weeks ago to reactivate the Iraqi-Syrian export line as an option among the various Iraqi export outlets.
Baghdad is hosting the ‘Baghdad International Energy Forum’ today and tomorrow, September 6 and 7, with the participation of energy ministers and major companies in the energy sector, as well as experts in this field from within Iraq and abroad.
