Oil Minister meets with his Russian counterpart and affirms commitment to measures to support oil prices in world markets


Oil Minister Jabbar Ali al-Allaibi confirmed the compatibility of views between Iraq and Russia
On supporting the actions of producers from within and outside the Organization of the Petroleum Exporting Countries to reduce production levels in order to restore balance and stability of the oil market
The Libyan oil minister said after the meeting, which was gathered by his counterpart and Russian Energy Minister Alexander Novak in Moscow.
The solidarity and unity of the producers towards the challenges facing the world oil market has succeeded to an acceptable degree in stopping the deterioration of oil prices.
Al-Luaibi said he agreed with the Russian Energy Minister to activate the work of the Iraqi-Russian committee, which includes a number of deputy ministers from both countries.
For his part, praised the Russian Energy Minister Alexander Novak, Iraq’s commitment and support for the agreement to reduce production, and called on the Market Control Committee to adopt the statistics issued by the main sources, the countries produced and not rely on other sources, which are a lot of mistakes.
Novak revealed that the major Russian oil companies expressed their desire to invest and contribute to the development of the oil industry in Iraq as well as the companies Lukoil Kazprom and Ross Oil, stressing that Russia is committed to refer to the federal government and the Ministry of Oil on the subject of oil contracts and so and can not deviate from He denied that the contract was signed between the Russian state oil company Rose and the Ministry of Natural Resources in the Kurdistan region, but it is a memorandum of understanding did not come into force.
“Oil Minister Jabbar Ali al-Luaibi and the accompanying delegation met with Lukoil President Lukkini Alekbarov and assured him that Iraq is keen to encourage international investments and provide opportunities for cooperation with international companies, In the province of Basra and in the tenth exploratory area, Jihad said that it was agreed in principle with Lukoil on the development of a road map for the development of these projects, expressing the hope of the final signing between the two sides on the amendment program for West Qurna / 2 and exploratory The tenth of the tenth before the end of this year and to achieve and ensure the interests of both sides, and the spokesman said that it was also agreed to develop an ambitious program for optimal investment of gas associated with oil operations in West Qurna / 2
In order to ensure the provision of good quantities added to national production.

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