Iranian Petroleum Minister confirms Iran, Iraq share same views on OPEC
Iran’s Minister of Petroleum, Javad Owji, affirmed a synchronized approach between Iran and Iraq concerning OPEC, signaling a harmonious stance during a ceremony in Tehran.
Commending Iraq’s proactive reduction of oil production, Owji underscored the shared vision on OPEC matters and the broader OPEC+ alliance, which includes Russia and other allies. The remarks transpired during the ceremonial signing of agreements with Iraqi Oil Minister Hayan Abdul-Ghani.
Underlining the commitment to OPEC+ cooperation, Owji disclosed that comprehensive discussions on OPEC and OPEC+ were held with Abdul-Ghani and the accompanying delegation. As part of the voluntary measures within the OPEC+ framework, Iraq committed to a substantial reduction of its oil output by 220,000 barrels per day from January through March. This move aligns with collaborative efforts to stabilize global oil markets.
The bilateral collaboration extends beyond production adjustments, with both nations establishing specialized committees to address key aspects. These committees include those focused on the development of joint oil and gas fields, adhering to international norms to safeguard each party’s rights. Additionally, a joint committee will oversee natural gas utilization, petrochemical industries, and renewable energy, while a third committee will be responsible for the rehabilitation and development of oil refineries.
Highlighting the depth of cooperation, Abdul-Ghani emphasized that joint efforts would extend to areas such as oil marketing, pipelines, and exploration. Minister Owji expressed confidence in the expeditious commencement of activities related to shared oil and gas fields, further emphasizing the positive trajectory of collaboration between Iran and Iraq in the energy sector.
