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Cooperation between Russia and Iraq in the oil sector is “very active” in spite of all the restrictions and the impact of the Covid-19 pandemic, according to Russian Deputy Prime Minister Alexander Novak.
Novak, who previously served as Russia’s energy minister, met on Wednesday with Iraqi Oil Minister Ihsan Abdul Jabbar to discuss the prospects of the two countries’ oil and gas projects, as well as the situation on the global oil market.
He noted the fruitful cooperation between Russia and Iraq in the oil sector, saying: “Our interaction is very active, despite the current restrictions and the impact of the coronavirus pandemic.”
While talking about the existing projects by Russian oil firms in Iraq, Novak said: “Our companies are actively implementing a number of successful projects on the territory of the republic. To date, the accumulated investments of Russian oil and gas companies in Iraqi projects have exceeded $10 billion.”
According to Russian First Deputy Chair of the Federation Council Committee on Economic Policy, Yury Fedorov, the companies plan to spend up to $20 billion on oil projects in Iraq.
In 2019, Russia and Iraq resumed cooperation in energy infrastructure, and in the electricity sector in particular. Some Russian firms could help Baghdad with the restoration and development of electric power facilities, while negotiations are underway over the construction of thermal power plants using the assistance of Russian companies.
Iraq’s proven oil reserves stand at over 145 billion barrels, while gas reserves exceed 3.7 trillion cubic meters.
Cooperation between Russia and Iraq in the oil sector is “very active” in spite of all the restrictions and the impact of the Covid-19 pandemic, according to Russian Deputy Prime Minister Alexander Novak. Read Full Article at RT.com Read More
A warning by retired generals that France is “disintegrating” and risks civil war as Islamists detach swathes of the nation is far from a fringe view. In fact, a new poll shows 58% of French people support the “call to honor.” Although Prime Minister Jean Castex condemned the letter to President Emmanuel Macron this week […]
Pakistan has submitted a request to become a member of the BRICS group of nations in 2024, with the expectation of receiving support from Russia throughout the membership application process. In an interview with TASS, Pakistan’s recently appointed Ambassador to Russia, Muhammad Khalid Jamali said, “Pakistan would like to be part of this important organization […]
Testimony by evacuated Mariupol residents and warnings of a false flag attack undermine the Ukrainian government’s claims about a Russian bombing of a local theater sheltering civilians. Western media have reported that Russia’s military deliberately attacked the Donetsk Academic Regional Drama theater in Mariupol, Ukraine, claiming that it was filled with civilians and marked with […]
