Oil Minister: Total project does not include mortgaging Iraqi gas

INA - BAGHDAD

Oil Minister Ihsan Abdul-Jabbar suggested that the price of crude would reach above $75 a barrel, while indicating that OPEC is trying to control the energy market positively.

"We expect the price of crude to reach above $75 a barrel. OPEC is trying to control the energy market positively,” said Abdul-Jabbar to the "Ashira / Tenth" TV show, on Al-Iraqiya News TV, followed by the Iraqi News Agency (INA).

He added, "There is no political pressure regarding the conclusion of the Total contract. Total project does not include mortgaging Iraqi gas,”

“Total project will address all the problems in the oil industry in the country. At the end of 2024, gas flaring in the southern fields will decrease by 90%,” he stressed.

He pointed out that "ExxonMobil's departure from Iraq was a strategic decision," explaining that "Basra is currently producing 3 million and 250 thousand barrels per day,”

“All the top universities in government engineering have been appointed to the Ministry's staff,” he noted.