Written by: Marwa Al-Ghoul
Sunday, May 12, 2024 02:00 p.m
Brent crude futures recorded a weekly loss of 0.2% for the second week in a row.
The Prime Minister of Iraq, Muhammad Shiaa Al-Sudani, confirmed that the recent improvements made by the government in the petroleum sector; It contributed significantly to attracting investments from international companies.
Al-Sudani said in a speech he delivered during the operation of the new licensing round to develop 30 oil and gas fields and exploration areas in different regions of the country – that “dozens of international companies are currently competing to to invest in Iraq’s oil wealth,” underscoring the government’s effort to put Iraq on the world energy stage.
He confirmed his country’s commitment to provide a suitable, safe and stable environment for the work of international oil companies in Baghdad, and that it would also provide all support and assistance to invest in Iraq’s oil wealth. , highlighting the great efforts made by the government. to develop the petroleum sector and employ oil revenue to promote all sectors, including stopping oil burning Associated gas is a waste of oil wealth.
It should be noted that Iraq is a member of the Organization of the Petroleum Exporting Countries (OPEC) and that proven reserves of crude oil amount to more than 145 billion barrels, and 132 trillion cubic feet of reserves. certified natural gas.
2024-05-12 11:00:00
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