Iraqi News Economic Highlights Thurs AM

  In Iraqi News 

Thursday AM Iraq Economic News Highlights 10-6-22


Al-Kazemi: Iraq Needs A Government And A Budget, And Its Absence For So Long Is Unacceptable


Political | 11:32 – 06/10/2022   Baghdad – Mawazine News, Prime Minister Mustafa Al-Kazemi confirmed, on Thursday, that the government has worked on several clean energy projects with reputable international companies in order to keep pace with contemporary developments and environmental challenges, while noting that Iraq needs a government and a budget.


Al-Kazemi said in his speech during the foundation stone laying ceremony for the Iraqi-Jordanian electrical interconnection line project, that “laying the foundation stone for the Iraqi-Jordanian electrical interconnection line project came to devote the project of cooperation and partnership, and positive interaction with our surroundings, in the service of our country and people.”


He explained, “This exceptional effort for the employees of the Ministry of Electricity secures the path of energy exchange between Iraq and brotherly Jordan, which is a true reflection and translation of the policy of openness and cooperation,” noting that “we previously worked on the electrical connection with Saudi Arabia and the Gulf states, and the agreement was signed at the Jeddah Conference.” months ago.”


He added, “We have also worked on several clean energy projects with reputable international companies, to keep pace with the developments of the times and the challenges of the environment,” noting that “Iraq today enjoys great confidence, and has its weight and presence, and we are trying to invest this privacy, and this opportunity, in the service of Iraq and the Iraqis.”


He continued, “These circumstances and this obstruction must be resolved and must end, for the sake of Iraq and the Iraqis, and for the sake of building the state and its institutions,” stressing that “the solution is to return to the table of dialogue and discussion, put differences aside and speak in all honesty and integrity, to come up with realistic solutions that end this political crisis.” “.


He pointed out that “Iraq needs a government and a budget, and its absence for this long is unacceptable,” noting that “the crisis today is a crisis of confidence, and it can only be restored or repaired through frank and constructive dialogue.”


Al-Kazemi concluded his speech by saying, “We lay the foundation stone for the project, and we stress the need for serious work and the correct and proper implementation of this project and others, for the sake of Iraq and the Iraqis,” explaining that “this is a trust and responsibility, and we must be up to it.” Ended 29/N33


New Details Regarding The OPEC Agreement .. Extends Until The End Of 2023


Internationals   2022-10-05 | Source: Russia Today 2,136 views  Saudi Energy Minister Abdulaziz bin Salman affirmed that “OPEC + will remain a fundamental force for the stability of the economy in the world.”


After the “OPEC +” meeting inViennaBin Salman said: “What we are doing is essential for all oil exporters, even outside of OPEC +.”


The Saudi Energy Minister added: “We are acting and making our commitment to the entire global economy, and we will continue to improve the production situation.”


He continued, “The current OPEC + agreement extends until the end of 2023.”


He explained, “The key to our success in the OPEC + meeting is cohesion and cohesion.”



The countries of the “OPEC +” alliance had decided, during its meeting today, inViennaSignificantly reducing production quotas, according to a member of the Iranian delegation, in order to support prices affected by fears of deflation.


Amir Hossein Zamani, an actor, said:IranIn the cartel as it left the meeting, representatives of the 13 member states of the Organization of Petroleum Exporting Countries (OPEC) and their 10 allies agreed to cut “two million” barrels per day for the month of November.   LINK


After Reducing Oil Production, The Consequences Of The “OPEC +” Decision On Iraq


Economie   2022-10-05 | 13:06   Source: Alsumaria news  8,088 views  Today, Wednesday, the economic expert, Abdul Rahman Al-Mashhadani, explained the consequences of the “OPEC +” decision to reduce oil production, on Iraq.


And “OPEC +” decided, earlier today, to reduce oil production by two million barrels per day, starting next November, in a move aimed at supporting prices that witnessed in the third quarter the first quarterly loss in two years.


This is the largest reduction since the historical cuts of about ten million barrels in the spring of 2020, before the collapse in demand linked to the Covid-19 epidemic.


In this regard, Al-Mashhadani  says,  Alsumaria news The fluctuations that occurred in the energy markets and the significant declines that occurred in oil prices, including the barrel’s drop to below $80, in addition to the existence of a surplus in the market of about two million barrels, are all factors that served as an alarm bell for OPEC, which forced the organization to hold a meeting and proceed with production cuts. “.   LINK


Somo Reveals Iraq’s Share Of The Reduction Following The Opec+ Decision


Economie| 07:34 – 05/10/2022   Baghdad – Mawazine News  The National Oil Marketing Company (SOMO) revealed that Iraq’s share of the OPEC Plus decision to reduce production by about two million barrels will be 220 thousand barrels per day.


The Director-General of the National Oil Company (SOMO), Alaa Al-Yasiri, said, “The OPEC Plus decision that was taken today will prevent the continued decline in oil prices and contribute to their rise, especially as it has lost 35% of its value in recent days and months.”


He added, “If a decision is not issued to reduce production, this will lead to a continuous decline that may bring prices to 50 dollars per barrel,” noting that “Iraq’s share of the reduction will be 220 thousand barrels per day.”


The OPEC Plus group announced, in an official statement, the agreement to reduce its oil production by about two million barrels, starting next November.


In its statement, OPEC Plus said that the reduction agreement, which it called (extension of the declaration of cooperation) will continue throughout the year 2023, provided that the Ministerial Monitoring Committee of “OPEC Plus” meets every two months to follow up on market developments.


Al-Kazemi And His Jordanian Counterpart Lay The Foundation Stone For The Iraqi-Jordanian Electrical Interconnection Project


Iraq   11:10 – 06-10-2022   Prime Minister Mustafa Al-Kazemi confirmed, today, Thursday, that the electrical interconnection project will secure the path of energy exchange between Iraq and Jordan, indicating that it is a true reflection and translation of the policy of openness and cooperation adopted by the government.


The media office of the Prime Minister said in a statement, “Prime Minister Mustafa Al-Kazemi and Jordanian Prime Minister Bishr Hani Al-Khasawneh laid, today, the cornerstone of the Iraqi-Jordanian electrical interconnection project.”


He added, “Al-Kazemi confirmed that the project would secure the path of energy exchange between Iraq and Jordan, which is a true reflection and translation of the policy of openness and cooperation adopted by this government.”


He added, “The two sides held a bilateral meeting, on the sidelines of the launch of the project, during which they discussed ways to develop bilateral relations and develop regional cooperation in light of the tripartite Baghdad summit, in which the leaders of Jordan, Egypt and Iraq participated,” explaining that “the meeting witnessed a discussion of the implementation of the project.


The agreements concluded between the two countries and their entry into force, especially in the areas of electrical interconnection, agriculture, transportation, food security, and in the field of financial and banking relations, and the development of their infrastructure.


And the office indicated that “the two sides expressed the keenness of the governments of Iraq and Jordan to develop bilateral work mechanisms, in a way that integrates with the horizon of regional work and sustainable development, as well as efforts to prepare for the upcoming tripartite summit, and the political, economic, and security files that will be addressed.”


Mustafa Al-Kazemi Arrives At The Iraqi-Jordanian Border


Iraq   10:48 – 06-10-2022   The Prime Minister’s Media Office said in a statement that Prime Minister Mustafa Al-Kazemi arrived at the Iraqi-Jordanian border.  The office added that the visit comes to lay the foundation stone for the Iraqi-Jordanian electrical interconnection project, and to announce the launch of its work by the Iraqi Prime Minister Mustafa Al-Kazemi and the Jordanian Prime Minister.


The Ministry Of Commerce Completes The Payment Of Farmers’ Dues For The 2022 Wheat Season


Iraq   22:52 – 05-10-2022   Today, Wednesday, Trade Minister Alaa Al-Jubouri announced the completion of the payment of farmers’ dues for the 2022 wheat season


. The Minister of Trade said in a brief statement issued by the ministry, “The ministry has completed disbursing farmers’ dues for the wheat marketing season for the current year 2022.”


And the Ministry of Commerce announced earlier at the end of the marketing season that the quantities produced exceeded two million tons this year.


Jordanian Prime Minister: We Affirm Our Full And Absolute Support For Iraq’s Efforts To Establish Security And Stability


Political | 11:51 – 06/10/2022   Baghdad – Mawazine News, on Thursday, Jordanian Prime Minister Bishr Al-Khasawneh affirmed his full and absolute support for Iraq’s efforts to establish security and stability.


Al-Khasawneh said in a speech during the foundation stone laying ceremony for the Iraqi-Jordanian electrical interconnection project, in the presence of Prime Minister Mustafa Al-Kazemi, “We support Iraq’s efforts in a full and absolute way in strengthening state institutions and establishing security and stability.”


Al-Khasawneh pointed out that “Iraqi-Jordanian relations have made real and great leaps in recent times.”


He added, “The mechanism of tripartite cooperation between Iraq, Jordan and Egypt constitutes a model for joint Arab cooperation and coordination.” Ended 29/N33

Tags: , , , , , /