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Iraq Seeking Optimal Investments in Oil, Gas

A handout picture provided by the Iranian presidency shows Iraq's Prime Minister Mohammed Shia Al-Sudani addressing a joint press conference with the Iranian president after their meeting in Tehran on November 6, 2023. (Photo by Iranian Presidency / AFP)
A handout picture provided by the Iranian presidency shows Iraq's Prime Minister Mohammed Shia Al-Sudani addressing a joint press conference with the Iranian president after their meeting in Tehran on November 6, 2023. (Photo by Iranian Presidency / AFP)
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Iraq Seeking Optimal Investments in Oil, Gas

A handout picture provided by the Iranian presidency shows Iraq's Prime Minister Mohammed Shia Al-Sudani addressing a joint press conference with the Iranian president after their meeting in Tehran on November 6, 2023. (Photo by Iranian Presidency / AFP)
A handout picture provided by the Iranian presidency shows Iraq's Prime Minister Mohammed Shia Al-Sudani addressing a joint press conference with the Iranian president after their meeting in Tehran on November 6, 2023. (Photo by Iranian Presidency / AFP)

Iraqi Prime Minister Mohammad Shia Al-Sudani stressed on Sunday the importance of utilizing crude oil prices in the global market in increasing financial allocations through optimal oil and gas investments.

During a meeting with Oil Ministry officials, Sudani underscored the need to advance the vital oil sector in all its aspects due to its importance to the state’s development.

Oil represents the primary source of income for Iraq, he remarked, adding that the government is working to develop the sector, as well as the chemical, petrochemical, and fertilizer industries and the electricity sector.

According to a statement by the Iraqi government, Sudani was briefed on the discussions between the Ministry of Oil and the Ministry of Natural Resources in the Kurdistan Regional Government (KRG) to complete the procedures required to resume crude oil exports through the Turkish port of Ceyhan.

He reviewed the implementation of the Ministry’s plans to develop the oil sector in Iraq and projects related to oil and gas extraction, refineries, and exports.

The meeting also tackled investment opportunities announced by the Oil Ministry in 2023.

Meanwhile, a prominent Iraqi official said on Sunday that Iraq has made great strides to expand investment in the gas sector and stop burning operations.

Speaking at the Gas Investment Conference, South Gas Company Director General Hamza Abdul-Baqi Nassir said Iraq is investing in gas from oil fields to meet domestic consumption demands and is considering exporting the surplus to global markets.

The Ministry of Oil has made great efforts to activate licensing contracts with foreign companies to reach a production of 1,000 million standard cubic feet to secure the requirements for energy production and stop gas-burning operations to reduce environmental risks.

Iraq is working to establish a company to absorb all the gases produced, aside from cooperation with the French company Total, he said, adding that it would push towards boosting the capabilities of oil fields and developing alternative energy programs.

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Saudi Arabia Calls for Global Water Cooperation to Advance Integrated Management

The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)
The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)
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Saudi Arabia Calls for Global Water Cooperation to Advance Integrated Management

The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)
The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday. (11th World Water Forum 2027 | Riyadh 2027 on X)

The first preparatory meeting for the 11th World Water Forum 2027 kicked off in Riyadh on Monday with the participation of top scientists, experts, decision-makers from around the world.

Saudi Minister of Environment, Water and Agriculture Abdulrahman Alfadley, with the participation of World Water Council President Loïc Fauchon, inaugurated the official logo of the World Water Forum 2027.

In his remarks, Alfadley emphasized Saudi Arabia’s call for strengthened international cooperation and joint efforts among countries and organizations to tackle global water challenges. He underscored the importance of ensuring universal access to water and sanitation services as a key pillar in achieving Sustainable Development Goal 6 (SDG 6).

“Saudi Arabia prioritizes the water sector through various measures, including the adoption of a national strategy encompassing water production, storage, transportation, distribution, treatment, and reuse, all within a comprehensive institutional framework,” Alfadley added.

He further stated that the Kingdom has implemented Integrated Water Resources Management and enhanced supply chain governance. This is supported by the release of a long-term supply and demand plan that extends to 2050, alongside a commitment to environmental, social, and economic considerations in alignment with Saudi Vision 2030.

Highlighting the Kingdom's leading role in supporting regional and international water issues, Alfadley pointed to the launching of the Global Water Organization, aimed at fostering international collaboration, and the establishment of an International Water Research Center focused on water economics, water security, advanced technologies, and digital transformation.

Fauchon said the council, in collaboration with Saudi authorities, has developed a comprehensive framework outlining the thematic, regional, and political components that will shape the roadmap for the 11th edition of the forum that is being held in the Middle East for the first time.

He stressed the need to make water a top global priority, adding that this gathering will lay the foundation for future water policies. “The way ahead is still long, but we are confident we’re on the right path toward real solutions—solutions that can change lives,” he said.

Deputy Minister for Water at the Ministry of Environment, Water, and Agriculture Dr. Abdulaziz Alshaibani underscored the urgency of the current moment, describing the preparatory meeting as a call for serious and immediate action. Alshaibani emphasized the need to build upon existing progress in the water sector and to move decisively towards solidifying priorities.

He stressed the importance of greater coherence and integration across all sectors, along with the unification of all efforts, to achieve tangible solutions to global water challenges and to meet SDG 6. Alshaibani further noted that effective solutions must be anchored in several key pillars, including financing, innovation, diplomacy, and environmental considerations.

The World Water Forum 2027, organized by the World Water Council in Saudi Arabia, is a significant international platform for exchanging ideas and experiences in water management.