By Trend
Iraq may start exporting oil and oil products to world markets
via the Azerbaijani state-owned company SOCAR, Trend reports
referring to the Ministry of Energy of Azerbaijan.
The matter was discussed during a meeting held between the
Azerbaijani Energy Minister Parviz Shahbazov and the Iraqi Deputy
Prime Minister and Oil Minister Thamir Ghadhban, as part of the
13th meeting of the OPEC/non-OPEC Joint Ministerial Monitoring
Committee (JMMC).
The sides also discussed cooperation within the OPEC+ format and
the training of Iraqi specialists in the field of oil and gas in
Azerbaijan.
Minister Shahbazov told the guest about the ongoing regional and
global projects, as well as the activities of the State Oil Fund of
Azerbaijan, established to manage oil revenues.
The Deputy Prime Minister of Iraq, in turn, spoke about his
country's success in the oil industry, the recent price trends in
the oil market, and Iraq’s activities in OPEC. He noted that the
modernization and rehabilitation of the oil industry in Iraq are
priorities for the government.
The 13th meeting of the OPEC/non-OPEC Joint Ministerial
Monitoring Committee (JMMC) was held in Baku on March 18. A day
before the JMMC meeting, Baku hosted the 27th meeting of the Joint
Technical Commission.
Participants of the meeting discussed the current state of the
oil market, existing problems and other issues. The event then
featured a presentation on the pace of oil market development, and
the report of the Joint Technical Commission on production figures
for February.
New members of the JMMC were also elected by the end of the
event – Iraq, Kazakhstan, Nigeria and the UAE.
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