Latest news with #HayyanAbdulGhaniAl-Sawad
Iraqi News
2 days ago
- Business
- Iraqi News
Iraq to achieve self-sufficiency in refined fuels by year-end, Oil Minister tells IBBC
London ( – Iraq will stop importing refined white products (like gasoline and diesel) and achieve self-sufficiency by the end of 2025, potentially exporting surplus, Oil Minister Hayyan Abdul Ghani Al-Sawad announced Wednesday (June 4, 2025). Speaking at the Iraq Britain Business Council (IBBC) conference in London, he detailed significant energy sector advancements. This milestone is driven by increased domestic refining capacity, including the Karbala refinery and expansions in Basra and northern Iraq, boosting output by 360,000 bpd. Al-Sawad also highlighted major strides in associated gas investment, with utilization rising from 53% to over 70% through projects like Basra Gas and Halfaya, and upcoming developments in Akkas and Mansouriya fields offering international partnership opportunities. The Minister showcased the comprehensive TotalEnergies integrated project (oil, gas, solar, water injection) and progress on a major pipeline parallel to the Development Road. He emphasized Iraq's reform programs under PM Al Sudani aim to maximize resource value and foster partnerships. 'Iraq is opening up to the world with a partnership-based approach,' Al-Sawad stated, inviting quality contributions from British firms in conventional and renewable energy, citing an existing BP deal in Kirkuk.
Iraqi News
14-04-2025
- Business
- Iraqi News
Iraqi and Iranian MOU to enhance joint cooperation
The Iraqi Oil Minister, Hayyan Abdul Ghani Al-Sawad, signed a memorandum of understanding with his Iranian counterpart, Mohsen Paknejad, on Monday to enhance joint cooperation. Deputy PM for Energy Affairs and Minister of Oil Hayyan Abdul Ghani Al-Sawad received the Iranian Oil Minister Mohsen Paknejad, as they discussed, during the meeting, the prospects for joint cooperation between the two countries were discussed, according to a statement by the Ministry of Oil - received by the Iraqi News Agency - INA. The two sides held a meeting during which the cooperation mechanisms between the two countries were discussed in various sectors, where memoranda of understanding and agreements were signed in the field of exchanging experiences and joint cooperation in a way that serves the interests of the two countries. Al-Sawad pointed out that "Iraq has promising projects in investing gas, and works to achieve self-sufficiency in oil derivatives." In turn, the guest minister expressed his "thanks for the good reception and the visit of Iraq, as well as the depth of cultural relations between the two countries", noting "the importance of continuing relations between the two countries in all fields."
