The Director General of the Iraqi Oil Marketing Company (SOMO), Ali Nizar, stressed that the Baghdad International Energy Forum is a pivotal stage for exchanging visions and ideas about the future of the global energy market, stressing that the importance of the forum stems from the high level of participation of oil ministers and representatives of international organizations, especially OPEC.
"Iraq has exceptional investment opportunities in the oil and gas sector, which makes it an open market for international companies," Nizar said in statements during the forum, noting that the government and the Ministry of Oil are very open to cooperating with investors to increase production and end the phenomenon of gas flaring.
He added that Iraq, as the second largest producer in OPEC, seeks to increase its production and export share in line with the needs and balance of the global market, noting that his country possesses huge reserves that qualify it to meet international demand for crude oil and gas.
Nizar pointed out that future plans focus on strengthening Iraq's position as a central energy hub by diversifying export outlets, entering into partnerships with international refineries, providing strategic storage sites, and expanding the pipeline network, putting Iraq in its natural position as a major and stable source of energy in the world.
He concluded by saying that the forum is an opportunity to share experiences, discuss challenges and opportunities, and formulate joint solutions that will contribute to achieving balance and stability in global energy markets.
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