Iraqi, Saudi ministers discuss energy security, economic integration

Baghdad (IraqiNews.com) – Iraqi Oil Minister Basim Khudair and Finance Minister Faleh al-Sari met with Saudi Energy Minister Abdulaziz bin Salman and Finance Minister Mohammed al-Jadaan in Riyadh on Friday to discuss energy security and economic integration.

The two sides discussed prospects of joint cooperation in the electricity, energy, and gas sectors to achieve the common interests of both Iraq and Saudi Arabia, according to a statement released by the Iraqi Oil Ministry.

The high-level discussions focused on increasing bilateral commerce, stabilizing regional oil supply, and developing an integrated energy infrastructure.

As Iraq plans to increase its oil output from four million barrels per day to between 8 and 10 million barrels per day over the next few years, the Iraqi delegation sought Saudi Arabia’s support to modify its OPEC output share.

The ministers agreed on the next measures to boost cross-border cooperation in the gas, electricity, and power distribution sectors, as well as to improve Iraq’s domestic grid efficiency.

The Iraqi officials indicated that the government is adopting a strategy to reduce dependency on the Strait of Hormuz. The country’s plans include increasing flows through Turkey’s Ceyhan port and exploring alternate transportation routes via Jordan’s Aqaba and Syria’s Baniyas.

The two sides discussed regional security developments, underscoring their shared commitment to sustaining global energy market stability and supply resilience.