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Azerbaijan and Iraq to seal an oil agreement

Category: Economy

Date: 2021-09-26T13:44:00+0000
Azerbaijan and Iraq to seal an oil agreement

Shafaq News/ Iraq is interested in intensive cooperation with Azerbaijan in the oil, gas, and refining sectors, Azerbaijani media reported, referring to the statement of Iraqi Oil Minister Ihsan Abdul-Jabbar.

Abdul Jabar, who is on a visit to Baku, made the remark at a meeting with Azerbaijani Energy Minister Parviz Shahbazov.

The Iraqi minister spoke about Iraqi experience in the oil and gas sector and highly appreciated the support provided by Azerbaijan to regulate the oil market.

Shahbazov told his Iraqi colleague about the transformation of azerbaijan's Karabakh and Eastern Zangezur into the territory of 'green energy'.

The strategic decisions of President Ilham Aliyev, encouraging the creation of a green energy zone, open up new opportunities for energy cooperation, he noted.

The high level of relations between the two countries and joint participation in the regulation of the global oil market is the basis for further cooperation, Shahbazov added.

"Azerbaijan can consider prospects for expanding energy cooperation existing within the framework of the OPEC+ format and supplying the world market with crude oil and petroleum products of Iraqi origin through SOCAR," he said.

Issues related to the development of bilateral cooperation in the oil and gas industry were discussed. Sides exchanged opinions on the course of Iraq in the field of renewable energy and the situation on the world energy market.

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