Monday AM Iraq Economic News Highlights 8-8-22

Monday AM Iraq Economic News Highlights 8-8-22

Oil Minister: Iraq Will Achieve Semi-Self-Sufficiency In The Production Of Oil Derivatives By 2025

Economie   12:36 - 08-07-2022   The Minister of Oil, Ihsan Abdul-Jabbar, announced that Iraq is the only country capable of producing the largest amount of crude oil among the crude-producing countries in the coming years, while indicating that Iraq will achieve semi-self-sufficiency in the production of oil derivatives by 2025.

The Minister of Oil said, "Iraq has capabilities It is exceptional and is almost the only one among the OPEC and non-OPEC producing countries that is able to increase crude oil production in quantities of up to 3.3 million barrels per day record over Iraq’s current production in the coming years.”

He added, "Iraq has transferred and other projects under referral capable of collecting more than 3,300 million barrels per day by the end of 2028, which will enable it to produce 8 million barrels per day at the end of 2025 in a manner that ensures the achievement of global stability in the energy market."

He pointed out, that " He explained, "The total for Iraq, which is fixed in the OPEC schedule, after the recent increase, has become around 4 million and 664 thousand barrels per day, compared to Iraq's share in the previous schedule, which was 4 million and 600 thousand barrels per day."

He pointed out, "Iraq has a surplus production at stake, to market the required quantities for the oil market globally," stressing that "there has not been a record drop in the crude export rate, due to problems in the export platforms."

With regard to importing oil derivatives, the Minister of Oil stressed that "Iraq will enter the stage of semi-self-sufficiency in oil derivatives locally by the end of 2025."

He pointed out, "Our steps to dispense with importing oil derivatives will be on two axes. The first is to enter the Karbala refinery into service in October 2022, which will reduce Iraq's need for gasoline and gasoline by 50%, i.e. from 15 million liters, the amount of daily need, to 7 million. liters, while the second Basra refinery fcc will reduce up to 3 million liters per day, which will help to complete the projects of Baiji north of Baghdad and Diwaniyah in central Iraq, to ​​compensate for the rest of the mentioned needs.

https://kirkuktv.net/AR/Details/8067

The Price Of Gasoline In Kurdistan Is 3 Times That In Baghdad..And These Are The Reasons

Posted On2022-08-08 By Sotaliraq    Fuel prices in Kurdistan burden the population.

The high fuel crisis in the Kurdistan region has cast a shadow over the economic situation of the population, in light of the repeated demands by the authorities to intervene to solve the crisis, which is occurring in an oil-rich region.

The price of one liter  of gasoline  is 1500 Iraqi dinars (about one dollar), while the price of a liter of gasoline in the capital  , Baghdad , is about 450 dinars, which is a big difference, arising from the accumulation of  the economic crisis,  and the inability of the competent authorities to deal with the matter.

During the previous years, fuel prices were low due to the drop in the oil price, in addition to the fact that the price of the dollar was 120,000 dinars per 100 dollars, but the situation changed radically after the rise in fuel prices globally, and the adjustment of the exchange rate by the Iraqi government, the exchange rate became close to 150 thousand dinars, for one hundred dollars.

When  the Sulaymaniyah governorate witnessed,  last Saturday, widespread protests to denounce the deterioration of the living conditions, the lack of job opportunities and the delay in the monthly salaries of employees, the file of high  fuel prices  was on the list of demands of the protesters, who were harshly confronted by the security authorities.

The most affected segment

The segment of taxi drivers stands out, as the groups of the Kurdistan region society most affected by this alarming rise in fuel prices, for their urgent need to supply their cars with gasoline more than others, which was also reflected on the poor classes who use taxis in their transportation, as taxi prices rose to more than 35%.

In the center of Sulaymaniyah province, on Mawlawi Street, Amanj Reber, a taxi driver, was coming from the city of Bakhtiari.

Reaper told Sky News Arabia that the rise in the price of gasoline turned the lives of citizens upside down, and was not limited to taxi owners.

The regional authorities are still indifferent to this continuous rise, which portends great dangers, such as demonstrations or a general strike," Reber added.

The Kurdish citizen believes that “the crises began to put a lot of pressure on the people; Such as the crisis of employee salaries and fuel prices.”

What complicates the fuel price file for drivers is the low transportation fees within the city center, which amount to three thousand dinars (two dollars) for areas inside the center, and five thousand dinars outside the center, in light of the presence of huge numbers of cars working in the field of transport.

In addition, the oil price’s association with refineries and suppliers often causes this rise, with the lifting of subsidies by the Ministry of Oil and Natural Resources, in 2016.

Partial Solutions

In an effort to reduce the crisis, the federal government in the capital, Baghdad, allocated several official stations in the city of Sulaymaniyah, selling at 650 dinars per liter, but it was unable to solve the crisis because of the long queues at those stations.

Some drivers are forced to go to the province of Kirkuk, which is adjacent to the region, or Mosul, to refuel, as those cities sell at the price of the federal government.

Officials attribute this rise to weak government support in Kurdistan for the fuel sector, which makes this product vulnerable to the desire of commercial companies, while the federal government supports this product with more than one billion dollars annually, to control its prices and prevent the outbreak of a fuel crisis.

On the other hand, the local authorities in Sulaymaniyah Governorate, in cooperation with the city's representatives in the Federal Parliament, are seeking to increase the governorate's share of gasoline.

On Sunday, a member of the Iraqi parliament for the province, Briar Rashid, announced the approval of the Federal Oil Minister, Ihsan Abdul-Jabbar, to increase the province's share of gasoline.

Rashid said, in a press statement: "The Undersecretary of Oil for Fuel Distribution Affairs, Hamid Al-Zobaie, has officially approved an increase of 180,000 liters for the governorate's share of gasoline."

He added: “After pressing for the implementation of this request, for more than three months, the Minister of Oil agreed to increase the quota,” adding: “According to the Oil Ministry, the total amount of gasoline sent from Baghdad to Sulaymaniyah will reach 540 thousand liters, and the total amount of Gasoline will soon reach Sulaymaniyah.”

The Kurdistan region has only two plants for refining oil and producing fuel, and they are not enough for local consumption, according to officials.

The crisis with Baghdad affects

In light of the global rise in oil prices, the Kurdistan Region was unable to import fuel in large quantities, due to the financial distress it is going through as a result of the tension in its relationship with the federal government, which opened the door for smugglers and some traders to smuggle oil tankers towards the region, which the federal government allocates to its provinces. Especially the governorates of Nineveh and Kirkuk, which have borders with the Kurdistan Region.

And a Kurdish official believes that “the federal government should intervene in addressing the issue of smuggling, as it is carried out from outside the region, through companies that buy to sell it within governorates, as it is commercial, and this affects the region’s share, as it contributes to price manipulation.”

The official, who declined to be named, added to Sky News Arabia, that "the issue needs a clear and joint agreement between the two governments to avoid the current crisis and end the suffering of all residents of the region."   LINK

Deputy: An American Company Obstructs Energy Development In Iraq

Political | 12:54 - 08/08/2022   BAGHDAD - Mawazine News  accused the deputy of the Al-Sadiqoon bloc, Zainab Al-Moussawi, on Sunday, the American General Electric Company of obstructing the development of the electric power sector in Iraq.

Al-Moussawi said in a tweet followed by / Mawazine News /, "The German company Siemens has proven the ability and efficiency in Egypt through its four projects during the shortest period of time to provide 80 percent of the Egyptians' need for electrical energy."

And she added, "The American embassy, ​​by paying thousands of facilitators, impeded the previous Iraqi governments' attempt to contract with the German company Siemens to nullify the deal in favor of the American General Electric Company, which takes financial financing without real implementation." Ended 29 / M 99    https://www.mawazin.net/Details.aspx?jimare=201825

120 Billion Dinars To Implement The Population Census

Posted On2022-08-08 By Sotaliraq     Yesterday, Sunday, the Ministry of Planning revealed the most important developments related to conducting the population census that will be held next year. The ministry's spokesman, Abdul-Zahra Al-Hindawi, said in an interview with Al-Mada that "the Ministry of Planning continues its preparations to implement the population census, which was decided to be in the last quarter of 2023."

Al-Hindawi added, "The ministry took it upon itself to conduct the pilot census and complete its requirements by selecting specific areas from each governorate." He pointed out that "the implementation of the pilot survey will be conducted before the end of this year, with the aim of training staff and workers on mechanisms, testing capabilities, identifying problems and challenges and working to address them."

Al-Hindawi noted, "The Ministry of Planning has developed a plan to implement the population census in time and includes a set of basic activities that should be completed completely before the census is implemented." He pointed out that “the ministry has 120 counters that need training and qualification to carry out the task, as well as equipping them with tablets, because the census will be electronic, and with special specifications,” stressing the importance of “establishing a national data processing center, which will be the main hub for collecting and receiving all data.” .

Al-Hindawi went on to say that "the government has allocated 120 billion Iraqi dinars as a primary budget for the implementation of the population census."   LINK

Electricity Confirms An Increase In The Production Of Its Plants By 4 Thousand Megawatts Compared To Last Year

Posted On2022-08-08 By Sotaliraq   Baghdad/Bright news   The Ministry of Electricity stated that the national system has witnessed an increase of 4,000 megawatts compared to last year, noting that the secession incidents in the southern governorates came as an emergency matter that would be dealt with within a short time, stressing that its causes are related to high temperatures in addition to other symptoms.

And the Ministry of Electricity had stated in a previous statement received by (Al-Mada), that “the international weather report indicated that the regions of southern and central Iraq entered the international table of the highest temperatures recorded in the world, marking the beginning of the gradual thermal rise for the next ten thermal days, with degrees exceeding fifty degrees Celsius.”

The statement added, "The ministry calls on citizens to take into account the unprecedented rise in temperatures, rationalize energy consumption, turn off lights, and unnecessary electrical appliances, and reduce loads."

He pointed out, "This comes in order to preserve the stability of the system and to enable the system to keep pace with demand and not negatively affect the processing hours."

The ministry's spokesman, Ahmed Moussa, said, "The ministry started early in preparing the plan for operating electricity in the summer by conducting periodic and emergency maintenance."

Moussa added, in a statement to Al-Mada, that "the ministry's efforts have achieved an increase in production by nearly 4,000 megawatts compared to last year."

He pointed out, "Strategic lines have entered the service, which has achieved a kind of stability for the network, while supporting and rehabilitating the distribution sector with parts that were available."

Moussa pointed out, "The lack of approval of the budget has had a significant impact on our plans that were prepared for the summer, however, the citizen has sensed an improvement in the processing hours," noting that "the ministry has a plan to add more operational quantities, whether by linking with countries Neighborhood or solar energy projects.

He stressed, "What happened during the past two days, are technical problems that occur for equipment, transmission lines and obstetric units."

Moussa stated that "an accident occurred at the end of last week and caused the separation of the southern region, which are the governorates of Basra, Maysan and Dhi Qar, and led to the explosion of the circuit breaker and a disruption of one of the currents, which led to the separation of a number of transmission lines and obstetric units."

He continues, "Our staff quickly mobilized their efforts, and began isolating the scene of the accident and returning the obstetric lines and units to work."

Moussa stressed, "The incident was repeated yesterday in the southern region, as it is linked with Wasit Governorate through two energy transmission lines, namely the (Amin - Wasit) line and the (East Rusafa - Wasit) line."

And he added, "The (East of Rusafa - Wasit) line was exposed to gunfire, and the accident led to its separation from both sides, and the loads shifted to the (Amin - Wasit) line, which faced high energy withdrawals with high temperatures, and therefore the southern region separated from the system."

Moussa noted that "the repair took about two hours, as the lines, units and system were restored to work."

He stated, "The Minister of Electricity, Adel Karim, had nightly field visits to the National Control Center and Wasit Station, and the lines and units were returned to work."

Moussa added, "The system needs a few hours in order for the equipment to stabilize and return to what it was before the separation incident."

For his part, the head of the Parliamentary Energy Committee, Khaled al-Samarrai, said that "the committee is constantly following up the work of the Ministry of Electricity and the preparations it made for the summer."

Al-Samarrai continued, "The ministry confirmed that the reason behind the decline in equipment or cases of separation in the system, as happened in the southern governorates recently, is the result of the significant rise in temperatures."

He pointed out that "Iraq dealt with the issue of previous debts for Iranian gas amounts, and paid them all through the Emergency Support Law for Food Security and Development," stressing that "the ministry says that production has reached the highest levels by about 23 thousand megawatts."

Al-Samarrai finds, “The radical solution to the issue of electricity is through a shift to investment in the distribution sector, with the need to install smart meters and reduce waste rates.”

He stressed, "The system is subjected to two types of abuse, the first is by bypassing slums that are created without planning and other regions participate in their electric quotas, and the second type is by bypassing some governorates on their quotas established by the ministry."

Al-Samarrai called for "the re-working of a number of thermal stations owned by Iraq, especially in Wasit, Salah al-Din and Yusufiyah."

Al-Samarrai concluded, “It is not possible to rely on Iranian gas without setting a specific time limit, and we must develop our gas-producing fields in order to achieve self-sufficiency and that we do not need to import again.”

The scourge of corruption that afflicts state institutions is one of the reasons for the continuation of the energy crisis, in addition to the networks’ exposure to actual problems outside the control of the state, including the low levels of the Tigris and Euphrates rivers, the suspension of some power stations in dams, and terrorist operations against electricity transmission towers from time to time. In addition to the continuing increasing demand for the current at an annual rate of about two thousand megawatts. LINK

Electricity Sets The Date For The Completion Of The Connection With Saudi Arabia

Reconstruction and building   Economy News _ Baghdad   Today, Sunday, the Ministry of Electricity set the date for the completion of the connection with Saudi Arabia.

The ministry's spokesman, Ahmed Moussa, told the official news agency, "The ministry has identified with the Saudi side the routes of the lines, connection points and work mechanisms," noting that "the first phase of the agreement will include 1,000 megawatts."

He added, "Lines will be established through the Arar border crossing, and the Yusufiya station," noting that "the connection will be completed within 24 to 36 months."

516 . views   Added 08/07/2022 - 7:11 PM   Update 08/08/2022 - 2:18 PM

https://economy-news.net/content.php?id=29205

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