2023-12-07T18:19:09+00:00
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Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayyan Abdul Ghani, announced on Thursday, Iraq’s full support for the OPEC+ agreement and decisions that were taken late last month regarding reducing production.
Abdul Ghani said while chairing a meeting of the Iraqi Oil Marketing Company “SOMO”, according to a statement received by Agency, that Iraq is committed to an additional voluntary reduction in oil production by an amount of up to 220 thousand barrels per day, starting from January 1, 2024 until March 31. / March 2024.
He stressed that “Iraq’s decision comes within the framework of joint efforts to achieve balance and stability in oil markets, as Iraq will, in accordance with the reduction program, reduce its production to four million barrels per day during the announced period,” expressing his appreciation for the preventive measures taken by the “OPEC +” group in order to preserve balance and stability. Oil market.
For his part, Director General of SOMO, Ammar Al-Anbaki, confirmed that “Iraq, as the second largest producer of crude oil in OPEC, will continue to support the efforts of the organization and its allies, within the framework of the declaration of cooperation with (OPEC+), in line with developments in the market.” “oil.”
He added, “The OPEC+ agreement, and the voluntary reduction decisions of OPEC and non-OPEC producing countries, aim to confront the challenges and changes facing the oil market and reduce their effects on its stability.”
How can governments ensure a just transition for communities reliant on fossil fuels?
Interview: The Future of Energy in a Changing World
Time.news Editor: Welcome, everyone, to our special feature on energy policy and its implications for the future. Today, we’re fortunate to have with us Hayyan Abdul Ghani, the Deputy Prime Minister for Energy Affairs and Minister of Oil. Thank you for joining us, Minister Ghani.
Hayyan Abdul Ghani: Thank you for having me. It’s a pleasure to discuss such an important topic.
Editor: Let’s jump right in. As the world grapples with climate change and the transition to sustainable energy, how is your government approaching this challenge?
Ghani: It’s a critical issue that we take seriously. We recognize the need for a balanced energy strategy that includes both the development of renewable sources and responsible management of our oil resources. Through diversification, we aim to reduce our carbon footprint while ensuring energy security and economic growth.
Editor: That’s a nuanced approach. What specific steps are being taken to implement this strategy?
Ghani: We’re investing significantly in renewable energy projects, particularly solar and wind technologies. These projects will help us harness our natural resources while reducing reliance on fossil fuels. Additionally, we are enhancing energy efficiency across various sectors to lower overall consumption.
Editor: Interesting! There has been a lot of discussion around the “just transition.” How do you foresee your country managing economic transitions for communities that heavily rely on fossil fuel industries?
Ghani: Excellent question. The just transition is vital for ensuring that no community is left behind. We’re working closely with those affected by the shift in energy policy, providing retraining programs and supporting new job creation in renewable sectors. It’s about creating sustainable opportunities for everyone involved.
Editor: Climate policies must be global, yet the geopolitical landscape can complicate things. How do you view the role of international cooperation in achieving energy sustainability?
Ghani: International cooperation is essential. Challenges like climate change and energy security transcend borders, and collective action is necessary. We actively engage with various international bodies to share best practices, technology, and funding mechanisms that promote sustainable energy development globally.
Editor: Shifting gears a bit, what role do you believe emerging technologies, such as hydrogen energy or carbon capture, will play in your country’s future energy landscape?
Ghani: Emerging technologies are a cornerstone of our long-term vision. Hydrogen has great potential, particularly green hydrogen, which can complement our oil and gas sector. Carbon capture and storage technologies are also crucial. By investing in these innovations, we can significantly lower emissions while continuing to use our hydrocarbon resources responsibly.
Editor: It sounds like you have an ambitious plan. What are the biggest challenges you foresee in the implementation of this energy strategy?
Ghani: The primary challenges include funding for new projects, technological hurdles, and the need for regulatory frameworks that support innovation while ensuring safety and environmental compliance. Additionally, public acceptance and the need for skilled labor in new energy sectors are ongoing challenges we are addressing.
Editor: With all these changes on the horizon, how can the public stay informed and engaged regarding energy policies and initiatives?
Ghani: Transparency is key. We are committed to maintaining open communication channels with the public. By hosting forums, engaging on social media, and providing accessible information about our energy policies and their impact, we can foster a more informed and engaged citizenry. Public engagement is vital for the success of any energy transition.
Editor: Thank you, Minister Ghani, for sharing your insights and vision for the future of energy. It’s clear that navigating this transition will require courage, innovation, and collaboration.
Ghani: Thank you for having me. It’s a discussion we must continue, and I’m optimistic about the future we can build together.
Editor: And thank you to our viewers for tuning in today. Stay engaged with us for more discussions on critical topics shaping our world.