Baghdad (IraqiNews.com) – Basim Mohammed Khudair, Iraq’s Minister of Oil, attended a series of high-level energy meetings in Riyadh, including OPEC+ consultations and international ministerial talks on oil market stability, energy security, and investment amidst rising regional instability.
According to Iraq’s Ministry of Oil, Khudair attended an OPEC+ consultative meeting where members addressed global oil market changes, energy security, and the significance of continuing to invest in oil infrastructure.
The talks also focused on the need to fortify energy systems and infrastructure to survive interruptions, as regional instability and uncertainty over shipping via the Strait of Hormuz continue to provide issues for oil-producing nations.
Iraq, one of OPEC’s main producers, depends largely on petroleum exports to fund government expenditures; therefore, the stability of international oil markets and export routes is critical to its economy.
During his visit to Riyadh, Khudair attended the 25th WPC Energy Congress, themed “Pathways to Energy for All.”
The congress gathered energy ministers, industry leaders, and international organizations to discuss energy security, investment, and the transition to more sustainable energy systems.
The discussions included technology to minimize carbon emissions, clean hydrogen development, and energy project finance, as well as initiatives to ensure secure and dependable energy supply.
The Iraqi Minister also attended the 17th International Energy Forum Ministerial Meeting (IEF17), which was sponsored by Saudi Arabia with the subject “Energy Security and Shared Goals in a New Era.”
The event aimed to increase collaboration between energy producers and consumers, improve openness in global oil and gas markets, and expand energy data sharing.
Participants also spoke about the Joint Organizations Data Initiative (JODI), an international initiative to increase the availability and reliability of energy market data.
The discussions took place in Riyadh as Saudi Arabia hosted a series of big international energy summits, bringing together governments and business executives at a time when the Gulf region’s security worries are high.
Al-Ibadi’s involvement was part of Iraq’s overall political and economic engagement with Saudi Arabia, which included conversations with Iraqi Minister of Electricity Ali Saadi Waheeb about bilateral energy cooperation and electrical infrastructure.
The visit also coincided with Iraqi Prime Minister Ali Al-Zaidi’s trip in Riyadh, underlining ongoing high-level cooperation between Baghdad and Riyadh as both nations deal with regional security and economic issues.