Iraq officially appoints Bassim Khudair as new Oil Minister

Baghdad (IraqiNews.com) — Under Prime Minister Ali Al-Zaidi, Iraq has named former Deputy Oil Minister Bassim Mohammed Khudair as its new Oil Minister, putting him in control of the country’s most vital industry at a time of increasing financial strain.

Hayan Abdul Ghani, who has served as oil minister since October 2022, is leaving to be replaced by Khudair.

Khudair, a native of the Basra Governorate, Iraq’s primary oil-producing area, has held prominent positions in the oil ministry and is regarded as an expert in the nation’s energy industry.

Khudair was praised by Basra Gas Company on his appointment, which they described as a significant move for Iraq’s oil sector during a challenging economic period.

His appointment coincides with Iraq’s mounting financial difficulties as a result of disturbances related to the Strait of Hormuz issue and the larger regional confrontation involving Iran, the United States, and Israel.

Iraq’s severe reliance on petroleum income, which funds the bulk of the state budget, was made clear by the near shutdown of Hormuz, which had a significant impact on oil shipments and government revenue.

As Baghdad works to lessen its susceptibility to regional disruptions, Khudair is expected to focus on securing other export routes and stabilizing energy income.

As part of larger initiatives to diversify export routes away from the Gulf, Iraq has lately expedited plans for pipeline projects connecting oil exports to Turkey, Syria, and Jordan.

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المصدر: Iraqi News