Iraqi News Early Tuesday AM 3-15-22
Iraqi News Early Tuesday AM 3-15-22
TLM724 Administrator BondLady’s Corner
After The Rise In Oil Prices And The Increase In Kurdistan Production... Dana Gas Distributes Cash Dividends
Energy Economy News _ Baghdad Today, Tuesday, the UAE company, Dana Gas, announced its intention to distribute cash dividends after the increase in oil prices and the volume of its production in the Kurdistan Region. The company said in a statement seen by "Al-Iqtisad News", that it "announced its intention to recommend the distribution of cash dividends to shareholders of 4.5 Emirati fils per share for the second half of 2021," noting that "the total dividends for the fiscal year ending in 2021 increased to 8 fils, an increase of 45 percent compared to the dividends distribution in 2020.
She added, "The company's net profit amounted to 1.2 billion dirhams (317 million dollars) in 2021, compared to losses of 1.4 billion dirhams (376 million dollars) during the year 2020, indicating that the company recorded an adjusted net profit of 469 million dirhams ($ 128 million). .
She indicated that "the company's revenues amounted to 1.7 billion dirhams (452 million dollars), with a growth rate of 30 percent on an annual basis, thanks to the rise in oil prices and the increase in the company's production volume in the Kurdistan Region," noting that "the total cash payments received by the company in 2021 were the highest In its history, it amounted to 1.4 billion dirhams ($ 377 million), which contributed to increasing the company’s cash flow to reach 678 million dirhams ($ 185 million) at the end of 2021.
Hamid Diaa Jaafar, Chairman of the Board of Directors of Dana Gas, said that the company achieved record levels of profitability and collection of receivables through careful management of costs and operations.
He explained that "progress in the implementation of projects is continuing in the expansion of the Khor Mor station in the Kurdistan Region of Iraq, as construction work is moving forward in the field according to the scheduled schedule towards the start of operating the first gas processing lines during the second quarter of 2022," noting that "the production capacity of this The pipeline amounts to 250 million cubic feet of gas per day, which will raise the total gas production to 700 million cubic feet of gas per day.
He pointed out that "the continuous supply of gas to the electricity production plants in Erbil, Chemchemal and Bazian provided more than 80 percent of the electric energy produced in the region, and also contributed to achieving significant savings in fuel cost by replacing diesel with gas in a step that achieves great environmental and economic benefits in the region and Iraq." As a whole". Views 125 Date added 15/03/2022 https://economy-news.net/content.php?id=27317
Global Oil Prices Fell By More Than 7%
Economie| 03:35 - 15/03/2022 Follow - Mawazine News Global oil prices fell, on Tuesday, continuing their daily decline; Due to hopes for a diplomatic solution to the Russian-Ukrainian war, the market awaits the release of the monthly OPEC report.
The price of Brent crude recorded about 99.30 dollars, and it closed at 106.9 dollars, a decline of -7.16%, while the American intermediate crude continues to decline by (7.81%), recording 94.94 dollars per barrel, and it closed at 103.1 dollars. Ended 29/R77 https://www.mawazin.net/Details.aspx?jimare=187328
The Dollar Is Rising In The Local Markets
Economie| 10:42 - 15/03/2022 Baghdad - Mawazine News The dollar exchange rates witnessed, today, Tuesday, a slight increase in the local markets. Selling price: 147,500 dinars per $100 Purchase price: 147,250 dinars per $100 https://www.mawazin.net/Details.aspx?jimare=187286
Deputy: The Presidential Election Session Will Be Held Soon
Political | 02:26 - 15/03/2022 Special - Mawazine News Independent MP, Hadi Al-Salami expected, today, Tuesday, that "the date for holding a session to elect the president of the republic will be soon."
Al-Salami said, in a statement to Mawazine News, that "the political agreements and recent events indicate the imminent date of the presidential election session, which will result in a decisive political agreement for this file."
He added, "Public demands, global data and the halting of the economy's movement necessitate accelerating the rest of the procedures that precede the adoption of the budget law, especially with the global food crisis that all countries of the world are witnessing." https://www.mawazin.net/Details.aspx?jimare=187322
Al-Ghazi Calls On German Companies To Implement Projects In The Country
Tuesday 15 March 2022 727 Baghdad: morning Yesterday, Monday, the Secretary-General of the Council of Ministers, Hamid Naim Al-Ghazi, called on German companies to implement projects in Iraq.
A statement by the General Secretariat stated that "Al-Ghazi received the German ambassador to Iraq, Martin Yahr, on the occasion of assuming the duties of his new job in Baghdad."
Al-Ghazi praised, according to the statement, "the bilateral relations and common interests that bind the two countries, because of their positive impact on all levels, especially in the economic aspects, in addition to Germany's greater role in restoring stability in the liberated areas."
Al-Ghazi called, "German investment companies to implement projects in Iraq," stressing that "Iraq has the ingredients for investment and a fertile and attractive environment, in addition to the existence of economic and human capabilities, and supportive government facilities."
For his part, the German ambassador indicated that "Iraq is a basic and very important partner for Germany in all fields," and that it possesses economic and commercial capabilities that qualifies it to form partnerships in various sectors. LINK
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