More Iraqi News Monday Late PM 11-1-21
More Iraqi News Monday Late PM 11-1-21
TLM724 Administrator BondLady’s Corner
More Than (7) Billion Dollars .. Iraq's Oil Revenues For The Month Of October
Monday 01 November 2021 16:25 | Economic Number of readings: 115 aghdad / NINA / - The Ministry of Oil announced the total exports and revenues achieved for the month of last October, according to the preliminary statistics issued by the Iraqi Oil Marketing Company "SOMO", where the amount of exports of crude oil amounted to (96) million (708) thousand and (660) barrels. , with revenues amounting to (7) billion and (680) million dollars.
The statistics indicated, according to a statement by the ministry, "that the total quantities exported of crude oil for the month of last October from oil fields in central and southern Iraq amounted to (93) million and (386) thousand and (975) barrels, while from Kirkuk fields through the port of Ceyhan it amounted to (93) million (386) thousand and (975) barrels. The exported quantities reached (3) million and (11) thousand and (917) barrels, while the quantities exported to Jordan reached (309) thousand and (768) barrels.
The statement added: "The daily average of oil exports has reached (3) million and (120) thousand barrels per day, and the average price per barrel has reached (79,376) dollars."/ End 8
https://ninanews.com/Website/News/Details?key=936526
Oil Prices Rise After A Rare Measure Taken By China
Economie| 10:50 - 01/11/2021 Baghdad - Mawazine News, China said yesterday that it will release its reserves of gasoline and diesel to increase supply and achieve price stability in some areas. This came in a statement that analysts said was sufficient to reduce oil prices today.
Brent crude fell 0.2 percent and US West Texas Intermediate by 0.4 percent, after rising on Friday after the National Food and Strategic Reserves Administration in China announced on Sunday the release of gasoline and diesel reserves, in what some market watchers described as the first A statement of a kind aware of memory.
It is one of a number of attempts by Beijing to cool commodity price hikes that have slashed manufacturers' profit margins. Earlier this year, China released other commodities from the reserves, including a rare release of crude oil and base metals, to cool prices.
"Rationalizing (oil) production should be more common than releasing oil reserves," said Sunjik Te, an analyst at Beijing-based SIA Consulting.
He indicated that Sunday's move may be the first time that Beijing has announced the release of oil reserves.
He added, "Words are greater than actions, China learned this from (OPEC +)", referring to the supply contacts from the alliance of major oil producers in the world, which could have an impact on reducing market prices. End 29 / h https://www.mawazin.net/Details.aspx?jimare=173241
Oil: Our Exports In October Are 4 Million Barrels More Than In September
Economie| 04:19 - 01/11/2021 Baghdad - Mawazine News The Ministry of Oil announced, on Monday, the total exports and revenues achieved for the month of October, according to preliminary statistics issued by the Iraqi Oil Marketing Company "SOMO".
A statement by the ministry, which Mawazine News received a copy of, stated, "The amount of crude oil exports amounted to (96) million (708) thousand and (660) barrels, with revenues of (7) billion and (680) million dollars."
The statistics indicated that the total quantities of crude oil exported for the month of October from oil fields in central and southern Iraq amounted to (93) million (386) thousand and (975) barrels, while from Kirkuk fields through Ceyhan port, the exported quantities amounted to (3) ) million and (11) thousand and (917) barrels, while the quantities exported to Jordan reached (309) thousand and (768) barrels.
She added that the daily average of oil exports amounted to (3) million and (120) thousand barrels per day, and the average price per barrel amounted to (79,376) dollars. Ended 29/R77
https://www.mawazin.net/Details.aspx?jimare=173289
Private Sector Council
Monday 01 November 2021 188 Thamer Al-Haims We now have a board of directors for the private sector linked to the Ministry of Planning, and businessmen aspire to be associated with the prime minister, and this is a right in light of declared constitutional legitimacy, but the situation is reinforced by annual population growth and the public sector has stopped hiring... Will the circumstances allow the private sector to rise?
We have an import commercial sector embodied in its malls, as well as the markets for fruits and vegetables, which fragmented into single shops. This arose specifically after the paralysis of the public and private sectors and preceded them by the mixed and cooperative sectors. From the inflation of the government apparatus first, and secondly, the non-economic considerations in privatization and spending, let us go into the vicious circle of the rentier economy.
In this case, the import sector collided with the agricultural and industrial sectors, so that the prosperity and popularity of the former was linked only as a result of the paralysis of the aforementioned sectors in the private and public sectors and at their expense entirely.
Which of the two sectors do we want an economic council for it that is linked to the prime minister? We know very well that import is more influential and influential. A whole generation grew up under the dominance of the import sector, as it has its own banking sector, exchanges, and distinguished relations, to make the industrial sector stagnate and paralyze the agricultural sector for not manufacturing its products, so we can import them canned Absent from conforming to the Iraqi standard.
First, we have to resolve our economic identity. Are we just a floating rentier economy in the international market? Or is there a plan to transform us into a multi-resource economy in order to be freed from the results of floating our oil, which has not resolved our situation with the increase or the sudden drop in its prices?
So we have to cut our minds, especially after international developments, as defined by the United Nations in its current annual session, that global warming is linked to fossil fuels, so our neighbors have restricted their water to us as source countries in order to achieve their food security.
The Private Sector Council has before it this historical task, i.e. modern agriculture and the manufacture of its product after the manufacture of our oil product, to strive to keep pace with the restoration of life to thirty factories that were closed due to the lack of electricity allied with importer.
After dissolving the anti-sustainable development partnerships, then the Council of Ministers becomes not an administrative legal supervisor, but rather becomes a title for sustainable development with the tools of the private sector, as we see in the experiences of China, Turkey, and Malaysia after cutting the rope with rentierism and corruption, as the state becomes looking forward to the strategic horizon with the mechanisms of the private sector that we see spread From Saudi Arabia to China.
The most prominent question is... Is our private sector, with its federations, unions and associations, qualified for this urgent existential role that puts us before either... or...?
I say yes, under the pressure of the civilized vision with its distinguished history as the first civilization, and after reconsidering the supporting laws from the economic identity to the procedures of the laws and the outcomes of elections.
https://alsabaah.iq/57148/%D9%85%D8%AC%D9%84%D8%B3-%D8%A7%D9%84%D9%82%D8%B7%D8%A7%D8%B9-%D8%A7%D9%84%D8%AE%D8%A7%D8%B5
Iraqi-Saudi Negotiations To Launch Major Investments In The Field Of Energy
Oil Minister Ihsan Abdul-Jabbar Energy Economy News – Baghdad The head of the Iraqi negotiating delegation in the Iraqi-Saudi Committee for Energy and Manufacturing Industries, Minister of Oil, Ihsan Abdul-Jabbar Ismail, revealed that Iraq intends to sign huge contracts with Saudi Arabia before the end of the current government’s period for investment participation in the gas, alternative energy, water and petrochemical sectors.
Abdul-Jabbar said, in statements reported by the official "Al-Sabah" newspaper and seen by "Al-Iqtisad News", that "The Kingdom of Saudi Arabia sees that the sustainable development plans in the two countries in recent years correspond to the (Sustainable Millennium Development Plan for 2030) and its institutional frameworks in the two countries and the Arab region as two countries. Two oil companies are the top exporters of crude oil to global markets.
He stressed that "Iraq is negotiating with the global oil production giant (Aramco), to enter it as a partner in contracts for exploration and investment of free gas in the new fields in the Western Desert," noting that "the results of those negotiations are being studied by experts from the two countries to agree on a draft of long contracts that satisfies the aspirations and interests." the two countries."
He pointed out that "the Iraqi negotiating committee has intensified its serious discussions with the Saudi company (Acwa Power) to build water desalination plants, clean energy and solar power plants to bring them into the local energy market."
He added, "It was directed to focus on establishing long-term relationships that would allow Iraq to benefit from the high flexibility of (Aqua Power), the giant of the clean energy industries in the Kingdom and the Gulf, in implementing projects at reduced costs and with high efficiency by striving to obtain the highest possible service at the lowest possible cost." He stressed, "Achieving advanced success rates in multiple negotiations with companies from different countries."
In the context of strengthening the developmental steps of the Iraqi economy, the Minister of Oil revealed that “intensive discussions have been taking place since last April between the Saudi company (SABIC) and developed with positive results by drafting into a special memorandum that will be presented to the Council of Ministers during the upcoming sessions to discuss its participation in Iraq with an equal share to invest the Nibras project. ) for petrochemicals in Basra under an agreement signed between the Ministry of Industry and (Royal Dutch Shell) to establish a petrochemical complex in Basra to produce one million and 800 thousand tons annually.
Abdul-Jabbar said he "hopes that there will be a clear legal cover and joint protection for these Saudi companies and Emirati and foreign companies operating in the country."
And he indicated that "the National Oil Company was able to lure the major energy companies globally and sign agreements estimated at about 30 billion dollars with the French (Total) company, (Masdar) UAE and (Scatec) of Norway, which will provide returns and added profits that enter the Iraqi market for the first time in its economic history.
And it will provide thousands of jobs for job seekers, which will lift the burden of the central government on the employment sector and its transfer to the Iraqi private sector joint with Saudi investment companies, whose economy is classified among the most powerful economies in the world as a member of the (Group of Twenty) in terms of the volume of natural resources, which are estimated at about 35 trillion dollars and comes in third place after Russia and the United States of America.
He pointed out that "it is natural for Saudi companies to have an interest in a large country like Iraq with a population of more than 40 million people, and with a culture of consumerism that tends to prosperity with Iraq's natural resources, and this is a natural right similar to the peoples of other countries."
Views 224 Date added 01/11/2021 https://economy-news.net/content.php?id=26691
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