Oil Minister to AlZaidi ending gas flaring will be late 2029

The Minister of Oil, Basem Muhammad Khodair Al-Abadi, confirmed on Wednesday that ending gas flaring will be by the end of 2029.

The ministry stated in a statement that "the minister received the Prime Minister, Ali Faleh Al-Zaidi, at the Ministry of Oil."

Al-Zaidi emphasized "the importance of the Ministry of Oil," pointing out that "its importance comes from its staff and the existing capabilities upon whom a great responsibility lies, considering the ministry as the vital artery feeding the country's economy, and the ministry's staff is the wealth added to the oil wealth."

The Minister of Oil reviewed "the ministry's efforts, the oil sector's efforts, and their endeavors in developing the ministry's four sectors represented by (extraction, gas, refining, and distribution)," pledging to "concert efforts to secure revenues, activate outlets to increase export quantities, as well as provide oil derivatives to citizens despite the challenges and current circumstances in the region."

He added that "the ministry is moving forward with associated gas investment projects leading to ending its flaring by the end of 2029, in addition to that he touched upon the importance of licensing rounds that attract international expertise to develop the oil sector."

He also touched upon the issue of solar energy projects and the "Shams Basra" project and its importance, and touched upon the agreement with the region for exporting oil, considering it a great achievement, and requested a five-year budget from the Prime Minister to complete important projects.