Increase in Oil Investment is the Need of the Hour: Jaafari

Iraqi Dinar 123 News: – On Monday, the Iraqi Foreign Minister Ibrahim Al Jaafari met with Michael Townsend the CEO of the British Petroleum in Middle East. They discussed about the development in the region and its impact in the world oil markets. They emphasized the importance of improvement in the size of oil sector to support and help the Iraqi economy.

Ibrahim Al Jaafari office issued a statement that the Iraqi Foreign Minister Ibrahim Al Jaafari and Michael Townsend, the CEO of the British Petroleum in the Middle East discussed on some major issues. They reviewed the BP Company’s work in the Iraqi oil fields and discussed future plans to improve the oil production. Jaafari further added that both sides discussed on the latest improvements and developments in Iraq and across the world and its effects on the global oil markets. He also stressed on the importance to increase the investment volume in the oil sector to help and support the Iraqi economy. The British oil company BP is the third largest private oil company in the world. The Exxon is at number one and Shell at number two. The British company BP has a distribution network of 18.3 billion barrels with 28500 gas stations and owns 19 refineries. It has oil fields in Russia, North Alaska and Angola.

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