Iraqi News Highlights Sunday Evening 11-6-22
Tlm724 Administrator Bondlady’s Corner
Warnings Of An “Imminent” Global Economic Disaster That Will Hit Iraq-Urgent
1,934 economy 2022/11/05 16: 42 hs Baghdad today-Baghdad Former member of the House of Representatives, Majid shankali, warned on Saturday of an imminent economic disaster that will hit Iraq and the whole world, while calling on the government and the Iraqi Council of Representatives.
“The economic file is one of the most important files that the government and the House of Representatives must work on during the coming period in light of expectations of a global inflationary recession soon,”shankali said in a tweet shared with Baghdad today.
He added that “this file is directly related to the livelihood of various categories of people, so we should pay attention to it instead of paying attention to the Science Service Law, which aims to militarize society and distract young people from unemployment and corruption files”.
https://baghdadtoday.news/news/205314/تحذيرات-من-كارثة-اقتصادي
Iraq Aims To Raise Basra Gas Production To 1400 MQ/Y
Information / Baghdad..Deputy Prime Minister for energy affairs and oil minister hayan Abdul Ghani said on Sunday that :
the ministry is keen to increase the investment of gas from oil fields through the implementation of plans, programs and investment projects in Basra Gas Company up to an investment rate of 1,400 million standard cubic feet over the next few years, to reduce emissions and support the national economy, this came during his visit Basra Gas and his meeting with the company’s general manager and advanced staff.
“Basra Gas Company, represented by the government partner South Gas Company and the two foreign companies Shell and Mitsubishi, has implemented projects to invest in gas and the current investment rate has reached 900,”Abdulghani said in a statement. He added,
“the company has promising projects to add new capacities of invested gas to reach these rates to 1,400 units per day through the implementation of the Basra NGL project,
which includes the establishment and construction of an integrated gas investment laboratory, which includes two units each with a capacity of 200 units, and this project will supply the national grid with gas by at least 200″ The company has decided to shorten this period,” he said.
He explained, “the company is determined to achieve this program and they have the inspiration and determination to achieve this, and we appreciate the efforts of the company’s employees for the gas investment work that has been accomplished,
in addition to their efforts in supporting the local community through the implementation of school construction projects and other service projects related to local content, and we hope that these efforts and achievements will continue in order to achieve The goal is to stop the burning of gas”.
https://almaalomah.me/news/economy/العراق-يهدف-لرفع-انتاج-غاز-البصرة-الى-1400-مقمقي
Iraq Begins Exploring Oil And Gas Reservoirs In The Offshore Patch
Information / Baghdad..The Chinese company (sinoc), in coordination with the oil exploration company, has launched seismic exploration reconnaissance in the first part of the Iraqi offshore patch to search for oil and gas reservoirs in regional waters.
The director of the oil exploration company, Ali Jassim, said in a statement reported by the official newspaper and seen by Al-maaluma, that
“the Chinese company has started its work in the implementation of a joint study contract for two-dimensional seismic surveys and geophysical surveys to explore hydrocarbon clusters in the Iraqi offshore patch north of the Arabian Gulf.
Jassim stressed, “there is an urgent government desire to invest and increase national reserves to keep up with the needs of the markets in accordance with the expectations of finding the targeted commercial quantities similar to the countries bordering Iraq”.
He pointed out that “the Marine patch is two parts of land and sea, and the most important stage includes cleaning and lifting of War Remnants (projectiles and mines) from the land surface, as it is being implemented in coordination with the military effort of the Ministry of Defense and the Basra Oil Company, as well as the Regional Center for mine affairs in the Ministry of environment, while Bahri will soon bid on specialized companies”.
In turn, the expert on Maritime Affairs Salah al-Basri said that:
“the state of Kuwait still has a problem in the baseline with Iraq, because they object to drawing this line and interfering with their maritime borders and considering the waters of FAO as part of the Kuwait baseline”.
He added that “the coastal states’ deposit of the map of the regional sea and the economic zone without concluding an agreement with Iraq and in accordance with international law will cause disagreements, and the coastal state will exercise sovereignty not only over its territorial land, but also over the airspace and sea”. https://almaalomah.me/news/economy/العراق-يباشر-باستكشاف-مكامن-النفط-والغاز-في-الرقعة-البحرية
Basra And Kurdistan Ores Are An Alternative To Russian Ural Ore
Economy breaking Kurdistan oil Basra crude Rough Russian 2022-11-05 07:57
The last remaining European buyers of Ural acid crude are looking for Russian-grade alternatives in order to fulfill contracts and ensure the productivity of European refineries, after the EU ban on the fifth of December, which marks a shift in the lists of European refineries.
S&P Global Platts, quoting one of the traders, reported that the crude blend (CPC Kazakh) has seen an increasing demand as a Light grade that can be easily mixed with alternative sour ores to produce an alternative of medium acidity from the Urals,”
indicating that they “bought the Kazakh CPC Blend and the Iraqi Basrah medium Basrah in order to run them together to produce ore similar to the Russian Urals to supply futures buyers to Europe.
The trader added that the test ore of the Kurdish blend and the CPC Blend is also being put into operation together as an alternative to the Urals.
One trader noted that he had heard that the Mediterranean Basra was flowing more to Europe last month, adding”it is an alternative to the Urals”.
Kepler’s shipping data supports this opinion with 77 thousand barrels per day flowing from the average Basra to Europe in October compared to September.
About 377,000 barrels per day were bound for Europe in October compared to 129,000 barrels per day in December 2021, the last full month of flight data before the war in Ukraine.
This comes at a time when the Iraqi oil marketing company Sumo lowered the official selling price for all its categories in November in a surprise move to claim a larger market share in Europe.
“Iraqi sumo and Saudi Aramco have to make prices acceptable to compete with other regions such as Latin America and other sulphuric acid producers,”said another trader.
https://shafaq.com/ar/اقتصـاد/خامات-البصرة-وكوردستان-بديلة-عن-خام-ال-ورال-الروسي
Iraq Is Moving Towards Legislating A Law That Addresses Municipal Waste: It Has A Great Economic Benefit
Economy Iraq breaking Act Municipal waste 2022-11-05 09:44 Shafaq News / the Iraqi Ministry of Environment revealed, on Saturday, the existence of a movement aimed at legislating a law dealing with municipal waste, while stressing this trend will have a great economic benefit.
Ministry spokesman Amir Ali al-Hasson told Shafaq News Agency that
“there is a government trend to legislate a law that deals with municipal waste, which is one of the types of solid waste, and
there is also the possibility of investing municipal solid waste, in the subject of waste recycling and obtaining energy from it through incineration or through fermentation processes for some types of food and here it is energy-producing as it produces gas (methane) and this can be used to generate electricity.
He added that “there is a great economic benefit if municipal solid waste is invested from funds or saving electric energy, and such projects are frankly existing and there are several offers under consideration by some companies specialized in this field”.
https://shafaq.com/ar/اقتصـاد/العراق-يتحرك-نحو-تشريع-قانون-يعالج-المخلفات-البلدية-فيه-فا-دة-اقتصادية-كبيرة
The Iraq Money Recovery Fund Promises “Rewarding” Rewards To Collaborators And Gives Violators An “Opportunity”
Economy Iraq Refund 2022-11-06 11:06 Shafaq News / the Iraq money Recovery Fund called on all citizens, whether inside Iraq or residing abroad, to cooperate in order to recover Iraq’s funds and return them to the state treasury.
In a statement received by Shafaq News Agency,
the fund promised its collaborators from the violators to “exempt them from the amounts owed by them, by (25%) and up to (5) million dollars of the recovered money as a maximum, pointing out that
the fund’s Board of directors grants a reward to the informant by (10%) provided that it does not exceed (5) million dollars of the recovered money, noting that
in the case of multiple informants, the rewards will be distributed in specific proportions to each of them, according to the role of each of them in recovering the money.”.
The Fund explained that it is “specialized in recovering the financial rights of the Republic of Iraq obtained by others illegally; as a result of the
misuse of the oil – for-Food Program, the blockade, smuggling, economic sabotage or the exploitation of the sanctions imposed on Iraq at the time;
to achieve financial gains at the expense of the Iraqi people, and receiving any compensation due to Iraq as a result of any legitimate and recognized decision, noting that
it is not specialized in receiving complaints and reports of convicts or funds smuggled due to corruption after 2003 https://shafaq.com/ar/اقتصـاد/صندوق-استرداد-موال-العراق-يعد-بمكاف-ت-مجزية-للمتعاونين-ويمنح-المخالفين-فرصة
Oil Outlines 3 Projects That Will Stop Burning About 75% Of The Flaming Gas
550 economy 2022/11/05 17:14 Baghdad today-Baghdad Deputy Prime Minister for energy affairs and oil minister hayan Abdul Ghani reviewed, on Saturday,
3 projects that will raise the production of invested gas in Iraq by an additional amount of 1,100 barrels, which means stopping the burning of about 78% of the flaming gas.
According to a statement received by the Ministry of oil (Baghdad today), Abdul Ghani said that
“the ministry pays great attention to the investment of associated gas for oil operations, and work to stop burning it down to the (zeroing – burnt gas) stage,”
pointing out that “the quantities expected to be added to national production from associated gas investment projects reach more than 1100 million standard cubic feet per day, within the next few years.
The ministry explained in its statement that Abdulghani, during his visit to the South Gas Company and his meeting with the general manager and the engineering and technical staff of the company, said that
“the ministry has concluded a number of contracts for gas investment projects, including the contract signed with the French company Total, which includes gas investment in the Artawi field and a number of other fields in Basra province with a capacity of 600, which is one of the promising fields for gas production and investment.
He added that “the second project is the gas investment project in the Al-Gharafa and Nasiriyah fields with a capacity of (200-250) meqmq, which is one of the projects that has been signed a contract with an international company, and good proportions of the project have been implemented, and it is hoped that it will be completed within a year, in addition to the gas investment in the halafa field in Maysan governorate with a capacity of (250-300) meqmq after signing with Chinese companies”.
The minister pointed out that “the next six months will witness the addition of quantities of invested gas to national production,
“noting that “the ministry is also working on investing the Akkas field, which contains free gas in Anbar province, and we are also seeking government approval to activate the mansuriya gas field contract in Diyala province, which adds good quantities.
The minister pointed out that “these achievements in the gas sector are significant and will be used to feed electric power plants, petrochemicals, fertilizers, steel, iron and others,”
expressing” hope to reach the stage of self-sufficiency of gas production.
For his part, South Gas general manager Hamza Abdulbaqi said during his review of the company’s activities during the meeting that
“the Artawi project is one of the giant projects, which is an integrated gas project and will be implemented in two phases, the
first to invest gas from the fields (Majnoon and West Qurna ٢ wartawi) and the
second phase will be the investment of gas from the fields (Al-Sabah, Al-lahis and Al-Toba),” stressing
“moving forward with investment operations in accordance with the government program, as well as Iraq’s commitment to clean energy projects and reducing emissions,” pointing out that
“the contract signed with total gas investment company in Artawi it is hoped to start its implementation processes within two months after the completion of negotiations with the company,”he said.
Iraq produces 2,800 barrels of associated gas, of which about 1,300 are invested, and 1,500 are burned, which means that if an additional 1,100 barrels are invested, the burning of about 75% of the flaming associated gas in Iraq will be stopped. https://baghdadtoday.news/news/205326/النفط-توجز-3-مشاريع-ستوق
Deputy Calls For The Establishment Of An Operations Room To Monitor Oil From Extraction To Export
Information / Baghdad..MP Alia Nassif on Sunday called on the prime minister and the oil minister to establish an oil monitoring operations room to monitor it from extraction to the moment of export, similar to what the countries of the region are doing, indicating that
the costs of its establishment, no matter how high, the state is the winner because continuous monitoring will end the thefts of oil mafias.
Nassif said in a statement that “this step should have been started many years ago, but several things prevented it from being achieved, including the American occupation, corruption and negligence, and
as a result, the control over oil and its derivatives has become weak to the point that mafias including employees and security officials, including managers and high-ranking officers, smuggle oil in a clear Daytime”.
She explained: “the neighboring oil countries have an oil control operations room whose task is to monitor oil from its extraction to its export, and therefore it is necessary to establish this room, which imposes control over all oil fields, wells and pipelines and monitors the routes of Basin tankers moment by moment, and this process is not difficult and the state has the material capabilities to implement it
https://almaalomah.me/news/economy/نائبة-تدعو-الى-انشاء-غرفة-عمليات-لمراقبة-النفط-منذ-استخراجه
To read more current and reliable Iraqi news please visit BondLady’s Corner:
https://www.bondladyscorner.com/
