Houston (IraqiNews.com) — Iraqi Prime Minister Ali Al-Zaidi met with Exxon Mobil CEO Darren Woods on Friday to discuss boosting the US oil company’s participation in Iraq’s energy sector, as Baghdad seeks to decrease reliance on Iranian natural gas imports and increase local fuel production.
The visit at Exxon Mobil’s Houston headquarters comes days after Al-Zaidi met with US President Donald Trump and is part of Iraq’s larger drive to gain significant American investment in its oil and gas sector.
Woods said that Exxon Mobil sees great prospects to develop its business in Iraq and underlined the company’s commitment to deepening collaboration, highlighting the necessity of decreasing emissions and improving environmental performance.
Al-Zaidi asked Exxon Mobil to expedite its investments in Iraq, stating that the government intends to enhance crude oil output, expand refining capacity, and build projects that add value to the country’s hydrocarbon resources.
He said that Iraq’s top aim is to remove the need for imported gas to power its power plants by collecting associated gas that is now burnt off at oil fields, halting regular flaring, and using Exxon Mobil’s technology and experience to expand local gas supply.
Iraq has depended largely on gas imported from Iran to create energy, but repeated supply problems and US pressure have forced Baghdad to step up attempts to tap its own gas reserves.
The Iraqi team, which included the oil and electricity ministries, also discussed expanding new refining plants and strengthening long-term collaboration with Exxon Mobil as Iraq strives to diversify its income sources beyond crude oil exports.