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Basra Oil: We Plan To Export 6 Million Barrels Per Day

Basra Oil Company headquarters.   Energy   Economy News – Baghdad   With the high rates of crude oil export capacity through the port of Basra, the National Oil Company plans to double it from 3.2 million barrels to 6 million barrels per day in 2025.

The Director-General of the Basra Oil Company, Khaled Hamza al-Shara, said in a press conference followed by “Al-Iqtisad News” that “there are ten oil-producing fields in Basra, including 6 within oil licensing contracts for major international companies, while his company manages four giant fields.”

Al-Shara added, “The National Oil Company has prepared two overlapping plans, the first is annual, and the second is five-year to manage the ten fields, which currently produce up to 2.9 million barrels per day,” noting that “the export capacity of these fields, in addition to the Maysan and Dhi Qar fields through the ports of Basra. It reached 3.2 million barrels per day.

Al-Shara revealed, “The plans of the National Company to reach 6 million barrels per day by 2025, after entering three giant pipelines with a capacity of 3 million barrels per day and a capacity of 48 inches to transport crude oil from the Rumaila and Barjisiya warehouses to the ports of Basra and Al-Amaya.”

Al-Shara explained that “the five-year plan includes assigning a number of giant production projects to major international companies for the purpose of constructing plants for the production of crude oil and investing associated gas and giant strategic contracts in the fields of oil and renewable energy,” recalling the contract with the French company “Total Energies, worth 27 billion dollars, To implement four projects in the field of gas and electric power within this plan.

Khaled Al-Shara added, “The process of producing crude oil in the Fayha field has started with a capacity of 20 thousand barrels per day,” noting “an expected increase of up to 40 thousand barrels in the coming months.”

He pointed out that “his company is continuing projects to increase production capacity to reach the target in the ministry’s plan to produce crude to 3.2 barrels per day at the beginning of 2022, taking into account Iraq’s commitment to the decisions of OPEC, which will result in its next meeting in light of the pressures of the many variables of the Corona virus and the mutant Omicron. “.

And on the joint fields between the neighboring countries of Iran and Kuwait, he pointed out that “Iraq and Kuwait reached in the past period to form a high-level committee from all ministries and the National Oil Company,” explaining that “the negotiations have gone a long way and the foreign consultant has been identified to set standards and investment rights for each country according to the analysis of the information.” To issue a final decision before agreeing on the steps.”

As for Iran, he made it clear that “there is a negotiation to bring the views closer on the issue of investing in joint fields by agreeing on a joint committee representing the two parties to establish an agreement in the future.” Number of views 120, date added 02/12/2021

Oil Prices Fall After “OPEC +” Agreed To Increase Production

Economie| 05:21 – 02/12/2021   Baghdad – Mawazine News:  Oil prices fell today, Thursday, and Brent crude futures fell below the level of $67 a barrel, for the first time since last August 23.

By 17:10 Moscow time, Brent crude futures fell by 1.86% to $67.59 a barrel, and before that, contracts recorded a reading below $67 a barrel, as it reached $66.1 a barrel, a decrease of 5.22% from the previous closing price.

Meanwhile, US West Texas Intermediate crude futures fell 1.97% to $64.28 a barrel.

The decline came after two sources in “OPEC +” said today that the group agreed to move forward with increasing oil production next January by 400,000 barrels per day.

The “OPEC +” group held

In The Event Of A Drop In Oil Prices, What Will The Shape Of Next Year’s Budget Look Like?

Political | 07:37 – 02/12/2021   Special- Mawazine News:  Oil prices fell today, to about $ 67 a barrel, for the first time since last August, after the OPEC + decision to maintain the increase in production, as well as the outbreak of the new Corona mutant (Omicron).

This decrease came at a time when the Iraqi government is preparing a budget for next year, and although it has set the price of the dollar at (50) dollars, it has set a margin of deficit to be covered by the difference between the price in the budget and the real price of oil.

In this regard, Salah Nouri, the former director of the Financial Supervisory Board, said in an interview with “Mawazine News” that “the policy that the general budget for the year 2022 will follow if oil prices drop below $60 will be austerity, meaning that investment projects will not be disbursed.”

And he indicated, “The budget will also include the door for internal borrowing, if necessary, to maintain the permanence and continuity of salaries.”

He added, “The borrowing will be internal, according to the approved plan, because it will be easier, with fewer benefits, and have government control, and that all matters related to the budget are prepared in advance.”

He pointed out, “The delay in approving the budget is often in Parliament for the purpose of agreeing on it, and if the new government amends the current formula, it is sent to Parliament.” Ended 29 / h

Iraq Joins A Security Agreement With Interpol

Thursday 02 December 2021   178   Baghdad: Jinan Al-Asadi   The Ministry of Interior has joined a security agreement with the International Police Interpol to detect stolen vehicles smuggled into the country.

The director of vehicle registration and driving licenses in the Traffic Directorate, Brigadier Salem Ghaith Al-Daami told Al-Sabah that “the agreement will contribute to limiting vehicle smuggling into the country, especially after an electronic calculator was identified in coordination with the Interpol police.”

He added, “The calculator includes the types and numbers of stolen vehicles, and the smuggled and stolen vehicle will be returned to the country that reported it, and those countries will also return the stolen and smuggled vehicles outside the country.”

Al-Daami indicated that “the General Traffic Directorate had issued, in accordance with Resolution 48, new instructions for the registration of unregistered and non-fundamentalist vehicles and given a period of two months to register them,” noting that “the foundations were laid before the decision, including that the vehicle enters unofficially into the country, and that it be It is not drawn up as Turkey, and there are no official documents for it.”

He pointed out, “The need for the vehicle owner to submit a request and a written pledge, that there are no documents and that it is not registered, so that the Traffic Directorate will check the vehicle to ensure its safety and durability, and that the chassis number is (drilled) and not printed, and check the Interpol police theft calculator, to then pay the customs fees for the vehicle and register it.” fundamentally.”   LINK

Planning Sets The Date For Implementing The Third Anti-Poverty Strategy

Political | 07:57 – 02/12/2021   Baghdad – Mawazine News, Thursday, the Ministry of Planning revealed the date for implementing the third anti-poverty strategy, while on the other hand, it indicated that it had set specifications for importing cars.

The ministry’s spokesman, Abdul-Zahra Al-Hindawi, said that “the development of the third poverty strategy has not been completed, as it was recently launched and will be for the years 2024-2027,” noting that “the ministry is still working according to the previous strategy launched for the years 2018-2022, which included a group of The main outcomes in terms of supporting and empowering the poor in the areas of health, housing, education, income and food.

He added, “The next strategy is still in the initial preparation stage and will take into account the changes that Iraq has witnessed after the outbreak of the Corona virus and the difficult conditions that it left behind on a large segment.”

In a second topic regarding the car import file, Al-Hindawi confirmed that “the Ministry, as far as the matter of importing cars is concerned with it, through the Central Agency for Standardization and Quality Control, began applying the Iraqi standard in terms of the safety and durability of cars,” noting that “this specification began to be applied comprehensively from 1 September last. For imported 2022 models and above.

He pointed out that “importing dealers are required to import cars according to these conditions, which include all the details of the cars.”

He stressed that “preventing the import of cars is not a matter related to the Ministry of Planning, but rather related to other parties concerned with import.”


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