Friday Evening Iraq Economic News Highlights 8-12-22

Friday Evening Iraq Economic News Highlights 8-12-22

Allawi Warns Against The Stage And Calls For A Parliamentary Session In The Presence Of The Heads Of The Judiciary And The Federal

Policy    2022-08-12 | 12:37   2,907 views   Today, Friday, the head of the National Coalition, Iyad Allawi, warned of the repercussions and dangers of the current stage, while calling for a parliamentary session in the presence of the President of the Supreme Judicial Council and the President of the Federal Court; To choose the President of the Republic and form a government.

Allawi said in a statement received by   Alsumaria news   He said, "We have always called for a national dialogue in which we see a solution to crises and overcoming chaos and complexity, as well as we have called since 2010 for the formation of a higher council for strategic policies and now for the formation of a council of wise men, but unfortunately the opponents did not respond to our calls."

He added, "Accordingly, it remains only to respect the timing of the constitution, which they have plotted in their hands, despite our reservations about many of its clauses, by holding a session of the House of Representatives anywhere in the country."

IraqIn the presence of the President of the Judicial Council and the President of the Federal Court to choose or install the President of the Republic and to form a government that paves the way for early elections with a fair electoral law and a fair election commission.

Allawi said, "Otherwise, the situation will worsen and deteriorate into unimaginable consequences, and I have nothing but warning and warning of the repercussions and dangers of the stage that our beloved country and our dear people are going through, who have suffered woes and been deprived of the most basic elements of a decent life."   LINK

"Including Iraq" .. OPEC: 7 Countries Increased Their Oil Supplies In July

Economie    2022-08-13 | 01:53  413 views   Alsumaria News - Economy The oil production of the 13 member states of OPEC increased by 216,000 barrels per day during the month of July, reaching 28.896 million barrels per day, supported by increased supplies from seven countries, including Iraq.

According to the monthly report of the Organization of the Petroleum Exporting Countries, which I reviewed   Alsumaria news   The largest increases came from Saudi Arabia, as its oil production rose by 158,000 barrels per day, to reach 10.714 million barrels per day, followed by the UAE, which recorded an increase of 48 thousand barrels per day, and thenKuwaitrecording an increase of 47,000 barrels per day.

He continued that "IraqIts production increased by 30 thousand barrels per day to reach 4,496 million barrels per day,” noting that “the increase in production ofIraqOil rose by 447 thousand barrels per day from the same period in 2021.”

She added that “the increase also came from Gabon, by 14 thousand barrels per day, and the rest of the increases also came from Equatorial Guinean oil by 13 thousand barrels per day andNigeriaby 6 thousand barrels per day.”

As the report indicates, the largest decrease came fromVenezuela, as shipments decreased by 49,000 barrels per day, bringing its production to 661 thousand barrels per day, followed byAngolaBy 19 thousand barrels per day, then Ian andLibyaat 11,000 barrels per day for each of them, and fromCongoby 6 thousand barrels per day, and finally fromAlgeriaby 3,000 barrels per day.   LINK

An Iraqi Delegation In Beirut To Agree On Services And Goods In Return For Providing Lebanon With Fuel

Posted On2022-08-12 By Sotaliraq   Beirut, - (AFP) - Lebanese Prime Minister Najib Mikati confirmed Thursday that Iraq will extend an agreement to supply Lebanon with heavy fuel oil (fuel) for a year in exchange for services.

Lebanon suffers from power cuts for long periods.

In July 2021, Iraq agreed to supply Lebanon with one million tons of fuel to run power plants in exchange for medical goods and services.

However, both countries suffer from severe energy crises, and power cuts are hampering the work of hospitals.

The media office of the Lebanese Prime Minister said Thursday in a statement, "The Iraqi government agreed, in its meeting today, to the request submitted by Prime Minister Najib Mikati to extend the supply of fuel to Lebanon for the necessity of Electricité du Liban for a period of one year, under the same conditions that were followed so far."

Fuel shipments are essential to Lebanon, where power cuts reach 23 hours a day, while power plants are almost non-functioning.

However, heavy fuel oil is not usable directly in Lebanese power plants, so the Lebanese authorities will continue to supply another type of fuel from other sources, and these suppliers are paid by giving them Iraqi fuel oil in return.

The value of the agreement between the two countries, when it was signed in 2021, amounted to 300 to 400 million dollars.

With oil prices soaring, Lebanese Energy Minister Walid Fayyad told AFP in late July

The value of the deal amounted to "currently $570 million, according to our recent calculations."

Fayyad added that "an Iraqi ministerial delegation will visit Beirut soon to agree on the services that Baghdad wants in exchange for fuel."

Lebanon is going through the worst crisis in its history, with a sharp rise in prices, a historical fall in the value of the national currency, an unprecedented impoverishment of the population and a serious shortage of basic materials. LINK

Electricity: A New Plan To Prevent Energy Separation In The South

Political | 09:50 - 12/08/2022   Baghdad - Mawazine News   The Ministry of Electricity announced today, Friday, the development of a new plan to prevent power disconnection in the southern governorates, while confirming the stability of the electric current in Basra.

The Director of Relations and Information of the General Company for the Distribution of South Electricity, Amin Mohieddin Muhanna, said that "the electricity system in Basra Governorate is currently stable after it witnessed a cut in all regions of the province in the past few days," noting that "the supply of electricity in the province continues normally."

Muhanna attributed "the previous cut in the current in the province to the high temperature, which reached 55 degrees Celsius, according to him, and the high humidity in the air, as well as the large number of loads, and the lack of rationalization by citizens."

He added, "These matters directly affected the electricity situation in Basra, which led to power cuts for hours last week."

He added, "The General Company for Southern Electricity Distribution has developed an alternative plan to prevent the repetition of the previous cut and the separation of obstetric units in the south, and to avoid any emergency that could affect the electricity supply, especially since Basra suffers continuously from climatic fluctuations such as high temperature and humidity in the air, which It has a direct impact on the situation of the electric current in terms of its stability and continuity."

He pointed out that "the plans developed focused on following up the work of the obstetric units of the electrical system in the province, especially since Basra's production of electrical energy is now good, and meets the needs of the province."

He pointed out that "there are generating stations for the electrical system in the southern governorates that will enter work to prevent any emergency that may lead to a complete power outage in the coming days." Ended 29 / h    https://www.mawazin.net/Details.aspx?jimare=202255