More Iraqi News Saturday PM 1-29-22
More Iraqi News Saturday PM 1-29-22
TLM724 Administrator BondLady’s Corner
The Kurdistan Region is moving to an economic shift and confirms that the volume of trade exchange has reached 20 billion dollars within a year
Posted On 2022-01-29 By Sotaliraq The head of the Exporters and Importers Union in the Kurdistan Region, Sheikh Mustafa Sheikh Abdul Rahman, announced on Saturday that the region is heading towards being satisfied with the local product, and the transformation from a consumer to a producer, stressing that the volume of trade exchange between the region and other countries, especially Turkey and Iran, amounted to nearly $20 billion during the past year. .
This came when he received a high-level Turkish trade delegation with the aim of discussing increasing trade relations between the two sides and benefiting from the experiences of exporting countries in developing the region's internal trade.
Sheikh Abdul Rahman said during a press conference after the meeting, that merchants import daily through crossings between the governorates of the Kurdistan Region of Iraq, Iran, and Turkey, explaining that the volume of trade exchange between the region and the countries of the world reached about $20 billion, from the beginning of last year to its end.
He added that the largest volume of trade exchange was with Turkey and Iran in general for the provinces of the region, noting that the trade exchange with Turkey amounted to nearly 10 billion dollars, and with Iran it reached 7 billion dollars, and with the rest of the countries it was approximately 3 billion dollars.
Regarding the commercial movement during the past year, Sheikh Mustafa confirmed that the year 2021 witnessed a good commercial movement compared to previous years due to the stability of the health situation after the Corona pandemic invaded the countries of the world, including the Kurdistan Region.
With regard to trade relations between the region and Turkey, the head of the Federation of Exporters and Importers in the region said, "Our trade relations with the Turkish side are distinguished for many reasons, the most important of which is the geographical location and the close relations between the two sides."
He also indicated that “the coming period will witness a commercial development between the two parties, progress in the local production process in the region, and the transition from the consumption stage to the production stage, since the region is now considered one of the consuming regions.” In reference to the region's fertile agricultural lands that qualify it to produce a variety of agricultural crops as well as in the industrial sector.
The head of the Kurdistan Exporters and Importers Union called on the regional government to increase its support for the industrial and agricultural sectors to increase local production, and to allow it to compete with imported goods at home and abroad.
Sheikh Mustafa called on personalities and international commercial companies to work with the region with the aim of developing business and reproducing successful global experiences. LINK
Documents.. Alia Nassif Calls On Parliamentarians Not To Nominate A Person Accused Of Corruption For The Position Of President Of The Republic.. And Confirms: Corruption Does Not Fall Under The Statute Of Limitations
Posted On2022-01-29 By Sotaliraq Representative Alia Nassif called on members of the House of Representatives to abide by the oath they swore and not to nominate a person who was previously dismissed on corruption charges for the position of President of the Republic, while Representative Nassif sent two official letters to the Presidency of the House of Representatives and the Integrity Commission in this regard.
And she said in a statement today: “All deputies must abide by the oath they swore and adhere to the moral, national and legal constants before the Iraqi people, and not to choose a president of the republic who was questioned in Parliament because of clear corruption and evidence before all members of the Council, and his dismissal was voted unanimously and his files were referred to the Judiciary
Nassif indicated: “Corruption does not fall within the statute of limitations, as some think, and the nomination of a person dismissed for corruption for the position of President of the Republic is an insult to the Iraqi state and a disregard for the law and the legislative authority responsible for legislating the laws applied by the judiciary.”
Representative Alia Nassif sent two official letters to the Presidency of the House of Representatives and the Integrity Commission in this regard. In the first book, it was stated that:“Based on Law No. 8 of 2012 (Law on the Provisions of Candidacy for the Post of President of the Republic) and on the basis of Article One, Paragraph Three (with a good reputation and political experience and who are known for their integrity, uprightness, justice and loyalty to the country) and based on Article (61) Paragraph 7 of the Constitution, according to which Mr. Hoshyar Zebari was questioned in the House of Representatives and was referred to in the House of Representatives.
From the Ministry of Finance, Foreign Affairs and Defense, and it is possible to refer to the minutes of the inclusion committees, and thus the third condition of Article First of Law No. (Cool (the Law of Provisions for Candidacy for the Post of President of the Republic) has been lost.
And the letter addressed to the President of the Integrity Commission stated, “We hope to inform us of the number of cases referred to the Integrity Commission against the candidate Hoshyar Zebari, which resulted in his questioning in the House of Representatives, and to inform us of the number of cases covered by the amnesty and which include the damage done to the state by Hoshyar Zebari. LINK
The Ministry Of Oil Clarifies The Mechanism Of Contracting With Total And Investing In The Okaz And Mansouriya Fields
Energy Economy News – Baghdad Today, Friday, the Iraqi Oil Ministry issued a clarification regarding the recent contracts concluded, while setting the date for the start of the agreement of the French company Total .
The ministry stated, in a press statement, that, in response to what was reported by social media regarding gas development programs and projects in the south, the Mansouriya gas field in Diyala, and the crutch gas field in Anbar Governorate, and for the importance of clarifying the nature and content of these agreements and contracts to public opinion and those interested once again, Although it has been published by the Ministry of Oil and authorized on more than one occasion, in addition to its presence on the official website of the Ministry, public news sites, the media and the press .
She added , that the Ministry of Oil and its companies affirm its keenness on the optimal investment of the national wealth, and work on developing oil and gas fields with high professionalism, despite the economic, health and security challenges, while placing the national interest above all considerations, away from media excitement .
She indicated that the agreement with the French Total Company will enter into force in the first quarter of this year 2022, after obtaining the necessary approvals and reviewing them by the regulatory authorities. Next :
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First: the Mansourieh gas field
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- Its objective is to develop and invest gas fields to secure the local need of dry gas, with the aim of supplying gas-fueled electric power stations, in addition to reducing imports from neighboring countries, maximizing financial revenues, providing job opportunities, and stimulating the economic movement in the province .
- The field was shown within the third licensing round 2010
- And in 2010, the consortium of "Turkish TPAO, Kuwait Energy, and Korean Kokaz " companies won.
- It was not possible for companies to start development operations, due to the security situation in the governorate in 2014 .
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- Because of the importance of the field in the national strategy to increase natural gas production, and in particular, the expansion of electric power generation that runs on natural gas fuels, the Mansourieh gas field was put up for competition based on Cabinet Resolution No. (270) of 2019 which includes approval of what was stated in the letter of the Ministry of Foreign Affairs. Oil No. 1765 on 17/6/2019 with the development of the Mansourieh gas field with the national effort, with the participation of one of the qualified international companies (51% of the Central Oil Company and 49% of the foreign company) and the adoption of the standard contract for the border field tour (the fifth round) according to the principle of profit sharing (Profit Share) .
Accordingly , the Ministry of Oil began organizing a competition round to develop the Mansourieh gas field, and fundamental measures were taken in this regard, which included the following steps :
Selecting a number of qualified international companies and inviting them to participate in the development of the field , numbering (16) companies, where (9) companies expressed their desire to participate in the development of the field, namely PetroIraq , CNOOC , Gazprom , Total , PPL Asia , Zarubezhneft , UEG , SINOPEC , Jereh Energy Group.
- On 31/3/2021 and according to the final tender document, 20/4/2021 was set as a date for the effectiveness of the competition, as the contract obliges the contracting company to achieve the first commercial production at a rate of no less than (100) million standard cubic feet of gas. Dry gas per day within (4) four years from the date of contract entry into force and achieving the peak production target of (300) three hundred million standard cubic feet of dry gas within (7) seven years from the date of contract entry into force .
- A committee was formed headed by the Minister of Oil and with the membership of the Undersecretary for Extraction Affairs and the general managers of the departments (legal, petroleum contracts and licenses, internal control) in addition to the assistant general manager of the Central Oil Company, where the competition event was implemented on 20/4/ 2021 at the Ministry of Oil building.
In the presence of the agents and general managers of the ministry’s formations and representatives of foreign companies, the competition process resulted in a referral to the company that submitted the lowest bid, which is the Chinese company (SINOPEC) , which is shared between the Central Oil Company (51%) and Sinopec (49%) according to the decision of the Council of Ministers above. They were notified on 20/1/2022, when the contract was initialed between the Department of Petroleum Contracts and Licensing of the Iraqi National Oil Company and the Chinese company (SINOPEC) .
- This is a preliminary contract, which requires obtaining the approval of the Ministerial Energy Committee and the new Council of Ministers, after which the final signature will be made by the Central Oil Company, one of the national oil companies, and the Chinese Sinopec Company in order to activate the contract and start development operations .
Second : the crutch gas field
- The gas crutch field contract was presented and referred as part of the third licensing round of gas fields 2010 to the Korean Kokaz Company, where the company started the work of developing the field and contracting materials and gas refining equipment, and the company was unable to complete its work due to the terrorist events of ISIS and the negotiation group led to the withdrawal company .
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- Because of the importance of the Okaz dry gas thermal station and Anbar thermal station in generating electric power, and meeting part of the local need, the ministry is communicating with several solid regional and international companies for the purpose of reaching an agreement that achieves the planned goals of developing the field and producing gas, but no agreement or agreement has been reached. Contract with any of these companies so far .
Third : The agreement with the global company Total
- Total International has worked for several years to provide high technical support to the Iraqi oil industry and has been the leader in providing studies for the development of giant oil fields in Iraq during the past thirty years. The project is proceeding due to the political conditions of the country .
- French Total for the mentioned projects. To move the project forward for the great development results that this project represents.
The agreement with the French company Total included :
- Four important contracts that contribute to achieving sustainable development, through gas investment contracts with a capacity of 600 million standard cubic feet, and transportation and treatment of sea water... with a capacity of (5) million barrels per day, to maintain and increase production from oil fields, and a contract to generate 1,000 megawatts of solar energy, And the Artawi field development project, which aims to increase production to more than 210 thousand barrels per day .
- This agreement, which came according to the formula of contracts for the fifth licensing round, "profit-sharing", is one of the pioneering steps to develop the oil and gas industry in Iraq, in cooperation with one of the largest international companies, which will place huge financial investments in these projects, as well as the exchange of experience and modern technology.
And in a way that contributes to the development of the oil industry, maximizing financial revenues, providing job opportunities for the people of Iraq, and working to stop burning gas and converting it into useful energy to supply electric power plants, petrochemical industries and others, as well as reducing emissions and pollutants .
And the ministry added, that the National Oil Company had obtained the approval of the esteemed Council of Ministers in accordance with Resolution (361) for the year 2021 with the Ministry of Oil’s contribution to the infrastructure development project, which was transferred to Total, at a rate of no less than (40%), provided that the sums are recovered from Funds generated from oil exports to contribute (40%) of Total's share of (100%), which will maximize the financial revenues of the national partner .
Views 191 Date Added 01/29/2022 https://economy-news.net/content.php?id=27146
Dollar Exchange Rates Are Stable In Local Markets
Economie| 10:16 - 29/01/2022 Baghdad - Mawazine News, today, Saturday, the dollar exchange rates maintained their stability in the local markets.
And the selling prices of the dollar were 148,000 dinars per 100 dollars, while the purchase prices of the dollar were 147.750 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=183006
Oil Prices Close With Consecutive Weekly Gains
Economie| 09:49 - 29/01/2022 Follow-up - Mawazine News: Oil prices closed with gains, for the fourth consecutive week, supported by concerns about supplies and political concerns.
Brent crude closed in its last session yesterday, Friday, with an increase of 0.69 dollars, to reach 90.03 dollars a barrel, and achieved a weekly profit of 2.14 dollars, or 2.43%.
US West Texas Intermediate crude also closed with a rise of $0.21 to reach $86.82 a barrel, achieving a weekly profit of $1.68, or 1.97 percent.
Oil prices rose last week, as supply concerns escalated this week after a possible military conflict in Ukraine would disrupt energy markets, especially natural gas supplies to Europe. Ended 29/A 4
https://www.mawazin.net/Details.aspx?jimare=183003
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