Iraq has announced the setting up of ‘Iraq Energy,’ a non-profit organisation in London with the aim to be a leading independent think-tank and research organisation for Iraq on energy policy and related issues.

The institute will have its headquarters in London, with representative offices in Baghdad and Dubai. 

The all-Iraqi founding Board of Trustees includes former politicians and diplomats as well as academics and public and private sector industry professionals.

The main objective of Iraq Energy is to positively contribute to the discourse on Iraqi energy policy in a non-political manner and at a professional level, in order to produce actionable policy recommendations for the optimum development of Iraq's energy sector, said a top official.

"Good petroleum and energy policies and practices will be critical for the health of the Iraqi economy and the prosperity of the people of Iraq,” said Ali Allawi, chairman of the founding board of trustees of Iraq Energy.

Allawi, who was earlier Iraqi Minister of trade, defence and finance, said the institute aimed to be a reliable source of information and research on all Iraq energy issues, for both policy-makers and companies.

It will strive to better educate the wider audience interested in the development of Iraq’s energy sector, he added.
 
“The goal of Iraq Energy is to add a professional and objective perspective as an independent policy institute, by producing timely reports and studies, sponsoring conferences and seminars, and hosting industry, government and academic experts. Iraq Energy will be an independent source of policy recommendations that will add real value to Iraq and its economy," he added.

Iraq Energy will also benefit from an advisory board as an additional resource of advice and knowledge, and will be run by a full-time staff led by an Executive Director of the institute.

The funds for the institute will be generated from gifts and private donations, multilateral organisations, sponsorships from international companies and membership and subscriptions, Allawi said.

The annual report will include a fully-transparent financial statement of all income sources in a detailed manner, he added.

The inaugural meeting of the board of trustees focused on the institute’s plans and objectives for the short-term and the long-term, as per the agreed charter.

The board also discussed plans to host its first annual conference in the Middle East this year.-TradeArabia News Service