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Iraq is interested in energy cooperation with Azerbaijan

Baghdad considers Baku to be an important partner in energy issues

Iraq is interested in energy cooperation with Azerbaijan

Baku, September 27 - Neftegaz.RU. Azerbaijan´s President Ilham Aliyev has received Iraq´s Minister of Oil Ihsan Abdul Jabbar.
Azerbaijan is an important partner for Iraq in the energy sector.
Minister Jabbar expressed Iraq’s interest in the participation of more Azerbaijani companies in his country's economy.

The Iraqi minister highly appreciated the support provided by Azerbaijan to regulate the oil market.
Azerbaijani Energy Minister Parviz Shahbazov said:
  • The high level of relations between the 2 countries and joint work to regulate the world oil market are the basis for our future cooperation
  • 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
Jabbar, in turn, noted that Iraq is interested in active cooperation with Azerbaijan in the oil and gas and processing spheres.
During the negotiations, the routes for the supply of Iraqi oil through Azerbaijan were not named, or information about this was not indicated in the messages.

Azerbaijan’s crude oil exports were about 568,000 b/d in 2020.
Most of the exports were destined for European countries, with Italy receiving 34% of Azerbaijan’s crude oil exports in 2020.

Iraq’s economy depends heavily on crude oil export revenues.
Crude oil production for all of 2020 averaged 4.1 million b/d.

Source : Neftegaz.RU

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