Saudi Arabia to Host World Petroleum Council

Saudi Energy Minister Prince Abdulaziz Bin Salman with the President of the World Petroleum Council, Pedro Miras (Asharq Al-Awsat)
Saudi Energy Minister Prince Abdulaziz Bin Salman with the President of the World Petroleum Council, Pedro Miras (Asharq Al-Awsat)
TT

Saudi Arabia to Host World Petroleum Council

Saudi Energy Minister Prince Abdulaziz Bin Salman with the President of the World Petroleum Council, Pedro Miras (Asharq Al-Awsat)
Saudi Energy Minister Prince Abdulaziz Bin Salman with the President of the World Petroleum Council, Pedro Miras (Asharq Al-Awsat)

Saudi Energy Minister Prince Abdulaziz Bin Salman signed a memorandum of understanding (MoU) with the President of the World Petroleum Council, Pedro Miras, outlining plans for Saudi Arabia to host the 25th edition of the Conference in 2026.

The World Petroleum Conference accepted Saudi Arabia's bid to host and organize the 25th edition of the Conference and its accompanying exhibition in Riyadh in 2026.

The decision was made during the Youth Conference organized by the World Petroleum Council in Almaty, Kazakhstan, last October.

Saudi Arabia's bid to host the Conference received substantial international support, with the Ministry of Energy playing a pivotal role in the nomination process.

The World Petroleum Conference is held once every three years. It is a prominent global event that brings together countries and international organizations to foster cooperation across various energy sectors and address key challenges facing this critical industry.

The Conference draws considerable attention from experts, journalists, and the general public.

Established in 1933, the World Petroleum Council serves as the organizing body of the Conference, providing a balanced platform for stakeholders worldwide to engage in discussions concerning the oil and gas sector.

The Council's core focus is on harnessing scientific advancements within the oil and gas industries, facilitating technology transfer, and promoting the sustainable utilization of petroleum resources worldwide for the collective benefit.

Saudi Arabia, represented by the Ministry of Energy, is actively participating in the 24th edition of the World Petroleum Conference in Calgary, Canada, from Sep. 17 to 21, 2023.



Iraq Seeks US Investment in Gas as New Projects Target Energy Independence

Iraqi flag in front of an oil field (AFP)
Iraqi flag in front of an oil field (AFP)
TT

Iraq Seeks US Investment in Gas as New Projects Target Energy Independence

Iraqi flag in front of an oil field (AFP)
Iraqi flag in front of an oil field (AFP)

Iraq plans to offer 10 gas exploration blocks to US companies during an upcoming visit by Oil Minister Hayan Abdel-Ghani to the United States, he announced on Saturday.
The move is part of Baghdad's efforts to attract US investment into its energy sector, following previous licensing rounds where Chinese firms secured the majority of available fields.
The 10 gas blocks, left unclaimed following six licensing rounds, will be presented in a new bidding process, Iraqi state media said, and comes as Iraq seeks to bolster its domestic gas production.
Abdel-Ghani also said Iraq will launch a new gas investment project by the end of the year at the Al-Faihaa oil field in southern Iraq. The project, with a capacity of 125 million standard cubic feet (mscf), is a key component of Iraq's strategy to enhance its energy infrastructure.
The latest initiative follows recent agreements to develop 13 oil and gas blocks, aimed at increasing Iraq's crude and gas output to supply power plants, which currently rely heavily on Iranian gas imports.