Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, led a high-level Iraqi delegation on a visit to the Baker Institute for Public Policy to attend a meeting of the U.S.-Iraq Business Council. The visit also included important meetings with Mr. Geoffrey Pyatt, U.S. Assistant Secretary of State for Energy, Mr. David Satterfield, Director of the Baker Institute, and Mr. Myron Brilliant, Executive Vice President of the U.S. Chamber of Commerce.
During the visit, Ambassador Nizar Al-Khairallah, Ambassador of the Republic of Iraq to the United States, emphasized the depth of the longstanding cooperation between Iraq and the United States, which spans more than two decades across various fields, including oil, energy, agriculture, trade, and business. He highlighted the importance of exchanging ideas and exploring joint opportunities that benefit both countries.
Minister Abdul Ghani reiterated Iraq’s commitment to expanding cooperation with American and Western European companies, especially those interested in visiting Iraq, assuring them that such companies would receive significant attention from the Iraqi government. Iraq also intends to send high-level delegations to the United States following invitations from reputable companies to discuss and explore potential strategic partnerships.
The minister pointed out Iraq's prominent position in the global energy industry, with proven oil reserves exceeding 145 billion barrels and production capacity surpassing five million barrels per day. Additionally, Iraq’s confirmed gas reserves are over 130 trillion cubic feet, with expectations to reach more than 160 trillion cubic feet, positioning Iraq as a major player on both the regional and global levels.
Minister Abdul Ghani reaffirmed Iraq’s commitment to gas investment, noting that the percentage of gas utilization in Iraq increased from 51% in 2022 to over 65% this year. The government aims to completely eliminate gas flaring by the end of 2028, significantly contributing to reducing greenhouse gas emissions and using gas in electricity generation and various industries.
The minister also highlighted the expansion of Iraq’s refining capacities by more than 360,000 barrels per day through new projects in Karbala, the North, and Basra refineries, bringing Iraq closer to achieving self-sufficiency in a wide range of petroleum products, with plans to export some of these products, such as gas oil.
Minister Abdul Ghani invited American companies to explore gas blocks with high potential in the Anbar and Nineveh provinces, encouraging them to invest according to the mechanism adopted by Iraq’s Ministry of Oil.
The minister further discussed the integrated projects the government is pursuing to maximize the value of crude oil and gas production, including the establishment of petrochemical and fertilizer plants, which will help create jobs, stimulate industrial growth, and enable the private sector to contribute to the development of the national industry.
The visit of the Iraqi delegation, led by Minister of Oil Hayan Abdul Ghani and Ambassador Nizar Al-Khairallah, underscores Iraq’s commitment to strengthening bilateral relations with the United States and exploring new horizons of cooperation that serve the mutual interests of both nations.