More Iraqi News Late Wednesday PM 10-20-21
More Iraqi News Late Wednesday PM 10-20-21
TLM724 Administrator BondLady’s Corner
Oil Reveals A Plan To Maximize Production And Shift Towards Clean Energy
Energy Economy News – Baghdad The Ministry of Oil announced, on Wednesday, the development of a strategic plan for the next phase aimed at maximizing national production, increasing financial revenues and gradually shifting to dependence on clean energy.
Jihad said, in a statement reported by the official "Al-Sabah" newspaper and seen by "Al-Iqtisad News", that "the strategy adopted by the ministry in the next stage includes the axis of maximizing national production of gas associated with oil and free gas operations through national effort and cooperation with sober international companies, and transformation Gradual reliance on clean energy instead of liquid fuels, due to its high economic returns and Iraq's commitment to international agreements on the environment and climate.
He explained that "the contracts concluded by the ministry to implement gas investment projects in the governorates of Basra, Dhi Qar and Maysan will contribute by adding large quantities of gas and stopping its burning and waste."
He added that "the second axis includes the intensification of exploratory work in the Western Desert in Anbar and Nineveh governorates, and a number of border areas that contain hydrocarbon compositions, especially gaseous ones."
As for the other axis, Jihad said: “It depends on expanding and increasing the storage and export capacities of the southern ports and developing the infrastructure,” pointing out that “the agreement with Total International to pump 27 billion dollars to implement four strategic projects in southern Iraq,” adding that this is an “important step.” Supports oil production projects, gas investment and renewable energy.
The official spokesman revealed that "a discussion has been opened with the American company Chevron regarding the Nasiriyah province project to produce oil and gas in four exploration blocks in Dhi Qar Governorate, due to its importance in enhancing and sustaining national production," noting that it "will contribute to supporting the national economy and sustainable development projects."
Views 332 Date added 10/20/2021 https://economy-news.net/content.php?id=26638
Oil Minister: Fixing The Oil Price In Next Year's Budget At $60
Economie| 01:39 - 10/202021 Baghdad - Mawazine News , Oil Minister Ihsan Abdul-Jabbar set, on Wednesday, the price of a barrel in the 2022 budget, while he expected crude to reach $100.
The Minister of Oil said during a workshop held today at Al-Rasheed Hotel, according to the official agency, that "the central government will fix the price of a barrel of oil in the 2022 budget between 55 to 60 dollars," noting that "this will help to make changes and a significant improvement in the performance of the national economy and overcome the fiscal deficit in Public budget".
Abdul-Jabbar expected, "The price of a barrel of crude oil will reach $100, in the first quarter of next year, affected by the decline in the US and global strategic stocks and the recovery of the global economy from the repercussions of Covid 19."
He announced that "Schlumbinger will start a project to drill 96 oil wells in the West Qurna 1 field, which is the largest of its kind in the country's history," noting that "the project will add 80,000 barrels per day after its completion to the total production of the Basra Oil Company, which is affiliated with the National Oil Company."
He added, "Schlumbinger, which is executing for ExxonMobil, the main operator of the West Qurna 1 field, by using modern technology in drilling operations in West Qurna 1, helps all parties in the Ministry of Oil and licensing companies to reduce the costs of production per barrel and improve productivity."
The Minister of Oil expressed his optimism about “a great development in the oil industry, especially as it entered a new positive phase that competes with companies producing alternative solar energy and green and blue nitrogen fuels,” noting that “giant companies have spent billions of dollars on establishing infrastructures to manufacture modern equipment and devices.” Batteries and other materials used in the alternative energy industry.
For his part, Vice-President of Schlumberger Saad Al-Damen said, "Preparations are underway to launch drilling operations in the largest extractive project, which will be implemented according to the latest technology that will work in the project and the preparation and installation of the information system and software rules for its management in the Basra Oil Company." https://www.mawazin.net/Details.aspx?jimare=171859
Brent Crude Hits Its Highest Level Since 2018, Touching $86
Economie| 10:47 - 20/10/2021 Baghdad – Mawazine News, Wednesday evening, the price of Brent crude futures rose to 85.82 dollars a barrel, the highest level since October 2018.
The US West Texas Intermediate crude futures contracts for the month of November, which expire today, Wednesday, increased 91 cents, or 1.1 percent, to reach At settlement of $83.87 a barrel.
December contracts rose 98 cents, to settle at $83.42 a barrel.
Crude prices rose amid tight supply, with the Organization of the Petroleum Exporting Countries (OPEC) continuing to slowly increase production instead of intervening to pump more crude into the market, and in light of rising US demand.
Oil markets in general are still supported against the backdrop of the global coal and gas crisis, which led to the shift to diesel and fuel oil for power generation. https://www.mawazin.net/Details.aspx?jimare=171917
The National Security Council: We Call On The Demonstrators To Cooperate With The Security Forces
Today, Wednesday, the National Security Council called on the demonstrators to cooperate with the security forces to carry out their tasks, stressing that peaceful demonstration is a constitutional right that does not include transgression of law and order.
The Media Office of the Prime Minister said in a statement that "the Prime Minister, Commander-in-Chief of the Armed Forces, Mustafa Al-Kazemi, chaired a meeting of the Ministerial Council for National Security," noting that "during the meeting, the security situation in the country and the measures taken to preserve the lives of citizens and public property were discussed." and private."
Al-Kazemi stressed, according to the statement, "the importance of the national identity being the dominant one, and staying away from everything that sows division among our one people."
During the meeting, he said, "The government played a major role in holding the elections, and the security services succeeded in securing polling stations, candidates and voters," praising the role of all kinds of security services, as the elections were held for the first time without a curfew, and without booby-traps, assassinations and terrorist acts.
The meeting affirmed, according to the statement, that “peaceful demonstration is a constitutional right, and it is the duty of our security forces to secure the right to express opinion, provided that it does not include encroaching on law and order or restricting citizens, blocking roads and disrupting public life, assaulting public and private property, or offending people.” The prestige of the state,” stressing that “objection to the election results must be part of the applicable legal procedures, which is the natural and sound legal path.”
The meeting called on the protesting citizens to cooperate with the security forces; In order to carry out its tasks in maintaining security, he stressed the directives of the Commander-in-Chief of the Armed Forces to the security forces on the importance of high discipline and maintaining the conduct of public life,
stressing “the commitment of the Iraqi government to protect the United Nations Mission in Iraq and other diplomatic missions operating in the country from any threat and support them.”
To carry out its tasks, within the framework of Iraq's commitment to international laws and norms," he reiterated "Iraq's firm position in its refusal to be a springboard for aggression against any other country."
The meeting expressed thanks and appreciation to all local and international observers who contributed to observing the voting process at the invitation of the Iraqi government, and appreciated the positive role played by regional and international organizations, especially the League of Arab States, the Organization of the Islamic Conference, and the European Union mission, as well as the United Nations Mission in Iraq in presenting Support, support, and coordination of the work of international observers.
https://www.radionawa.com/all-detail.aspx?jimare=26148
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