Iraq's Oil Exports To America Drop Significantly In A Week

Energy   Economy News - Follow-up  The US Energy Information Administration announced today, Sunday, that Iraq's oil exports to America declined during the past week.

The administration stated in a table reviewed by "Al-Eqtisad News" that "the average US imports of crude oil during the past week from 9 major countries amounted to 5.007 million barrels per day, down by 298 thousand barrels per day from the previous week, which amounted to 5.305 million barrels per day."

She added that "Iraq's oil exports to America amounted to 70 thousand barrels per day last week, down by 171 thousand barrels per day from the previous week, which amounted to 241 thousand barrels per day."

The administration indicated that "the largest oil revenues for America during the past week came from Canada at a rate of 3.537 million barrels per day, followed by Mexico at an average of 406 thousand barrels per day, then Saudi Arabia at 314 thousand barrels per day, and from Colombia at 223 thousand barrels per day."

According to the table, "the amount of US crude oil imports from Brazil is 154 thousand barrels per day, from Nigeria 134 thousand barrels per day, from Venezuela 134 thousand barrels per day, and from Ecuador at a rate of 35 thousand barrels per day, while it did not import any amount from Libya. 10/20/2024 - https://economy-news.net/content.php?id=48914 

Economist Reveals The Value Of Oil Derivatives Smuggled From Kurdistan To Türkiye

Information/Anbar..  Economic expert Rashid Al-Saadi revealed, today, Sunday, that Iraq's losses due to the smuggling of large quantities of oil derivatives from the Kurdistan Region to Türkiye amounted to one billion and 500 million dollars.

Al-Saadi said in a statement to / Al-Maalouma / agency, "The Oil Marketing Company (SOMO) imposed a financial fine on Turkey as compensation to be paid to Iraq for the value of the oil smuggled from the Kurdistan Region to Turkey, amounting to one billion and 500 million dollars, but Turkey is still delaying the process of paying the financial amounts due on it as a result of receiving stolen oil shipments from Iraq."

He added, "Imposing financial compensation on Türkiye came against the backdrop of the halt in oil exports from Iraq to Ceyhan."

Al-Saadi continued, "The halt in Iraqi oil exports to Turkey via the port of Ceyhan has revived the smuggling of oil derivatives from the Kurdistan Region to Turkey, despite the fact that oil exports to Turkey are officially halted by the State Oil Marketing Company (SOMO)."

He pointed out that "the smuggling of oil derivatives from the Kurdistan Region to Türkiye is large and has greatly affected Iraq's oil imports."   LINK

Iraq Signs Agreement With Turkmenistan To Supply 20 Million Cubic Meters Of Gas Per Day

Posted On2024-10-19 By Sotaliraq  10/19/2024  The signing ceremony of the agreement and contract for the supply of Turkmen gas to Iraq took place in the capital, Baghdad, today, Saturday.

On the Iraqi side, it was signed by Ziad Ali Fadhil, Minister of Electricity, and on the Turkmen side, it was signed by Maksid Babayev, Minister of State and Chairman of the Gas Company in his country.

The signing of the agreement was the culmination of intensive technical efforts that extended for more than a year, including multiple meetings, mutual visits, and the signing of a memorandum of understanding last year.

The terms of the agreement stipulate that Iraq will be supplied with 20 million cubic meters of Turkmen gas per day, which will constitute a qualitative addition to the country’s energy sources.

The Swiss company (Loxstone Energy), which was contracted under the decisions of the Council of Ministers, is responsible for delivering Turkmen gas to Iraq, using the Iranian pipeline network, relying on the swap mechanism, which ensures the smoothness and efficiency of the transportation process, according to a statement issued by the Iraqi Ministry of Electricity.

Following the conclusion of the agreement, the Minister of Electricity confirmed in a joint press statement with the Turkmen Minister of State that the agreement is part of the government’s program to diversify energy sources and enhance supplies, and the Iranian side’s approval was obtained.

He explained that "this step will contribute significantly to ensuring that gas stations are supplied with the necessary fuel," indicating that "gas stations currently contribute about 60% of the total electricity production in Iraq."

He continued, “We work in the Ministry of Electricity according to a comprehensive vision that combines immediate solutions and long-term strategy,” noting that “importing gas represents a temporary measure until our national gas production projects are completed, self-sufficiency is achieved, and full reliance on our local resources is achieved within the next few years.”

For his part, the Turkmen minister expressed his pride in this strategic partnership, stressing his country's commitment to supporting Iraq's efforts to develop the energy sector.

We are proud to be a reliable partner of Iraq in the energy sector, and we look forward to strengthening economic cooperation between our two countries,” Maksad Babayev said in the joint statement.

In early July, Iran signed an agreement stipulating the exchange of gas between it and Turkmenistan, after intensive negotiations.

Iranian media reported at the time that a contract had been signed to exchange gas between Iran and Turkmenistan, and then supply it to Iraq.

[On October 6, 2023, the Iraqi Minister of Electricity, Ziyad Ali Fadhil, signed a memorandum of understanding with the Turkmen Minister of State for Gas Affairs, to supply Turkmen gas to Iraq.

Iraq imports electricity and gas from Iran for between a third and 40 percent of its energy needs, which is critical, especially in the summer months when temperatures reach 50 degrees Celsius and energy consumption peaks.

[size=45]Iraq is facing difficulty in paying for these imports due to US sanctions that only allow Iran to obtain funds to purchase non-sanctioned goods, such as food and medicine.  LINK

Al-Sudani: We Will Reach A Production Stage Exceeding 80% In Three Years[/Size]

Local | 03:05 - 10/19/2024   Mawazine News - Baghdad   Prime Minister Mohammed Shia al-Sudani announced today, Saturday, the production of 25% of Iraq's need for antibiotics, stressing that a pharmaceutical production stage exceeding 80% will be reached within three years.

His office stated, in a statement received by "Mawazine News", that "al-Sudani opened, today, two factories for antibiotics (cephalosporins) and immunosuppressive drugs, which are private sector projects, within the program to localize pharmaceutical industries in Iraq, which the government has adopted as a priority in its program."

Al-Sudani was briefed on "the stages of work in the factory, which has adopted the most advanced global technological origins, represented by the Italian company (EMA), which specializes in pharmaceutical industries, and met with the working cadres from various scientific specialties, in addition to reviewing the stages of implementing a new factory for cancer treatment drugs at a cost of (60) million dollars, which is planned to be completed in the coming months."

He pointed out that "this factory was established in light of the government's decisions taken since the beginning of its work," stressing that "the goal of localizing the pharmaceutical industry was among the priorities of the work, and was accompanied by providing facilities to private sector drug producers, in the field of issuing loans and sovereign guarantees to establish pharmaceutical projects.

" Al-Sudani noted that "the products of this factory of antibiotics will cover about (25%) of the country's need, which is important to achieve self-sufficiency," stressing "work to achieve drug security, as it is not permissible to accept that local pharmaceutical products cover 10% of the original drug market, which is worth more than (3) billion dollars."

He explained that "contracts for establishing pharmaceutical projects have increased under the current government by more than 60%, which is a positive indicator for reaching a production stage exceeding 80% during the next three years, especially for life-saving drugs and cancer patients' drugs, which are expensive and difficult to secure on a permanent basis," stressing "work to establish the pharmaceutical industrial city."

Cephalospor ins are life-saving antibiotics, and they will be produced in all their pharmaceutical forms up to the fourth generation, which include suspensions with a capacity of (12) million vials annually, capsules with a capacity of (450) million capsules annually, tablets with a capacity of (600) million tablets annually, and intramuscular and intravenous injections (vials) with a capacity of (40) million injections annually.   https://www.mawazin.net/Details.aspx?jimare=256064

Karbala Refinery Shutdown For Maintenance Cuts 40% Of Kerosene Supply

Policy  2024-10-20   1,414 views   Sumerian News – Local  Confirmed Committee Oil and Gas Parliamentary Committee, today, Sunday, to stop Filtered Karbala Its maintenance led to a 40% cut in kerosene fuel supplies. Iraq.

A member said Committee Oil, Gas and Natural Resources in the Council Representatives Thank you very much, "Musfa"KarbalaIt witnessed a halt in maintenance work, which led to a 40 percent cut in the supply of kerosene, which is necessary for the operation of power plants. Electricity And electric generators, as well as operating several types of vehicles.

Al-Mashkoor stressed that “the government was forced to compensate for the shortage of kerosene and divert the available amount to power generation stations. ”electricity Considering it the most important in terms of serving citizens, stressing “the return of a large part of it, equipping fuel stations, and restoring things to their former state,” according to the newspaper. the morning Governmental.  LINK