Iran, Iraq Discuss Oil Cooperation

Iranian Oil Minister Bijan Namdar Zangeneh and his Iraqi counterpart Ihsan Abdul Jabbar discussed ways to promote cooperation between the two neighbors in the oil industry.

In a telephone conversation, Zangeneh and Abdul Jabbar called for the expansion of oil cooperation between the two Muslim neighbors.

The Iranian minister congratulated Abdul Jabbar on taking office as the new oil minister of Iraq after formation of a new government under Prime Minister Mustafa Al-Kadhimi's leadership, according to the Iranian government's official website.

Abdul Jabbar said Iraq's daily export of crude in June has reached 2.8 million barrels.

The Iraqi oil minister also emphasized that it would be in Iraq's interests to abide by a production cut agreement between OPEC and its allies, known as OPEC+, saying the Iraqi Kurdistan Region has been directed to comply with the OPEC+ deal and cut its share of oil output.

The OPEC members, Russia and other oil producing nations agreed in April to cut output by around 10% of global supply to support oil prices amid the coronavirus pandemic.

(Source: Tasnim, under Creative Commons licence)

One Response to Iran, Iraq Discuss Oil Cooperation

  1. M W Ibrahim, PhD 22nd June 2020 at 12:48 #

    It will be interesting to see the Iraqi government's record (if there is any) of the KRG the oil production since 2003 !
    Notwithstanding its’ huge oil and gas reserves, and a century of unorthodox exploration, discoveries, development and oil production record of Iraq due to local and regional wars, sanctions and occupations; but Iraq is still in the structural exploration stage and has not evolved through the stratigraphic, combination and hydrodynamic exploration stages. Hence, when several oil companies abandoned their new-venture projects in Iraq (e.g. Majnoon Supergiant Oilfield by Shell), such actions calls for re-evaluation of the risks and rewards of exploration and field development ventures in Iraq, and scouting of the way forwards for the Iraqi petroleum industry through fallouts of COVID-19 pandemic.
    Target Exploration Consultants (the independent organiser of the Iraqi Petroleum Conferences) is inviting abstract submissions to the 5th Iraqi Petroleum Conference (IPC-21), which is to be held on the 15th & 16th of September 2021 at the Imperial College, London, UK. For conference sessions, registration, and sponsoring opportunities, and our back to back 13th Middle East & North Africa Oil and Gas Conference on the 13 & 14 September 2021 at the Imperial College, please visit: http://www.targetexploration.com

    Best regards,
    Muhammad W. IBRAHIM, PhD.
    Director and R&D Manager