Qatar to Invest in Iraqi Oil

Qatar Petroleum (QP) has confirmed that it plans to invest in Iraq’s upstream oil businesses.

President and CEO Saad Sherida Al Kaabi (pictured) told reporters: “I have met with the Iraq’s Oil Minister (Jabar Al Luaibi) and have conveyed my interest in investing Iraq’s upstream business, and he welcomed that.

“Iraq is a very important country in the region. It has huge resources and needs a lot of investments to bring the country back to the prominence. It is a brotherly country, and we would like to help and assist in developing their upstream business.”

The Peninsula Qatar quotes him as saying that QP is currently exploring best ways of entering the Iraqi market.