More Iraqi News Tuesday PM 6-1-21
More Iraqi News Tuesday PM 6-1-21
TLM724 Administrator BondLady’s Corner
General Electric: A Plan To End Gas Flaring And The Construction Of Two Power Stations, One Of Which Is The Largest In Iraq
Time: 06/01/2021 12:33:15 Read: 3,679 times {Economic: Al Furat News} General Electric has prepared a plan to end the phenomenon of gas combustion associated with the process of extracting oil, while it intends to establish two electrical stations, one of which is the largest in Iraq, to add about 2200 megawatts to the national grid.
The executive director of the company in Iraq, Rashid Al-Janabi, said in a statement that the Euphrates News Agency received a copy of it that "the company's staff have reached the final steps to complete the Zubair station, which will add 700 megawatts of electric power, in addition to that work is still underway in the expansion of Basmajah, the largest electrical station in Iraq to enter an additional 1,500 megawatts to reach 4,500 megawatts. "
He added, "Among the immediate solutions that can be used quickly is the installation of TM2500 mobile units in the oil fields to benefit from the gas associated with the production of electric power, with a period not exceeding several months to produce hundreds of units in megawatts, which the national network needs greatly and ending the phenomenon of burning associated gas, which affects The Iraqi environment to a large extent. "
And he indicated that "{GE} Company is fully prepared to support Iraq in providing the necessary funding to build strategic projects to cover its need of electrical energy resources, and its financing capabilities depend on global expertise and on solid relations with export insurance agencies in several countries around the world, as well as with major Financial institutions, as we have already, in cooperation with the Iraqi Ministry of Finance, secured financing for several important projects in the energy sector, worth more than two billion dollars. "
And on the possibility of establishing installed stations in different regions of Iraq, Al-Janabi said: The HA technology developed by General Electric is the largest and fastest growing gas turbine in the world, and contributed to achieving two world records in terms of energy generation efficiency.
Greater quantities of energy, without the need for additional fuel, citing the example of the giant H-type turbines in the UAE, where GE is building the Hamriyah plant and installing three H-type turbines to produce 1,800 megawatts.
Regarding the impact of the Corona pandemic on the company's business in some stations and what are the projects completed during the past six months, Al-Janabi explained that “General Electric started a few months ago to form a working team in coordination with the Ministry of Electricity and the concerned departments to facilitate work even in times of curfew. Dhi Qar carried out by the company, where work continued despite the challenges, especially the Corona epidemic, as the highest health standards were taken to ensure the safety of employees and partners, and the first phase of the Samawah power station with a capacity of 500 megawatts and the Dhi Qar power station with a capacity of 500 megawatts were completed and delivered to the Ministry of Electricity ".
Al-Janabi stressed that the American company is also working on supporting the national grid for electricity transmission to open bottlenecks and deliver the produced electricity to Iraqi cities and governorates, as GE has completed four transfer stations, two of them in Baghdad and two in Karbala. LINK
Economy Compass
Tuesday 01 June 2021 135 Mustafa Muhammad Ibrahim Perhaps one of the most important trends of the Iraqi economy is to know its direction, especially after the double shock that it experienced (economic - health), which made our economy vague in knowledge of its compass to determine its paths under rentier hegemony from the year 2003 to the present day.
This necessitates determining the components of our economy (from agriculture, industry, trade, human, material and technological resources) so that it can recover and advance the Iraqi economy again, and despite all the initiatives and plans, and some sincere intentions to restore the Iraqi economy to its health, but some bad intentions and not careful To make our economy go towards oil resources, as well as continue importing from regional countries until there is no economic stability.
It is important for our economy to be revived by Iraqi hands, who have suffered from past and future conditions to be able to secure for future generations a prosperous, diversified and stable economy, to build our country, which is what is required of (current and future) governments, for the true orientation towards supporting the Iraqi economy by activating economic development plans, prepared from Before the Ministry of Planning and building a sustainable economic model to achieve economic stability.
Iraq possesses solid economic institutions, as well as efficient human resources, somewhat advanced technological means, and important material resources, which makes it need only fair financial management to manage the economy, especially since the country has consultants and mentally-minded experts.
But some bad and dishonest intentions towards the Iraqi economy, make them work to achieve the goals of some regional countries that support them in achieving this, and this is what drives us to resort to taking some real treatments for the Iraqi economy.
These treatments include activating the economic development plans prepared by the Ministry of Planning, and taking into account all the ideas proposed by experts and consultants with careful specialization, preferably in the executive position, and effectively banishing all corrupt people with bad intentions in the economic file.
The importance of implementing the directions of the International Monetary Fund and the World Bank in improving the Iraqi economic environment, and implementing the principle of action (collective approach), that is, the orientation towards all economic sectors at the same time, is not hidden. These processors put our economy on the right track to be a competitor to the economies of regional countries and the countries of the world looking at the Iraqi economy with a view that would achieve a corresponding global trade, as well as a strong trade exchange supported by Iraqi industry and pure agriculture and with Iraqi hands. LINK
The Best Types Of Economies That Suit Iraq
Tuesday 01 June 2021 127 Baghdad: Shukran Al-Fatlawi The specialist in economic affairs, Dr. Abd Al-Rahim Al-Shaddd explained the importance of adopting human capital, in order to advance the reality of education to present important research in the interest of the Iraqi economy, similar to the countries of the region and other countries, which qualifies it to leave the rentier economy and work in the knowledge economy, which is the best type of global economies.
Al-Shaddd indicated in his speech to {Al-Sabah} that there are three main types of economies around the world, represented by the knowledge and industrial economy, and then the rentier economy, which is based on selling the natural resources in the country and is applicable in Iraq.
Al-Shaddd emphasized that {the rentier economy leads to the impoverishment of the countries that follow it from their natural resources, in addition to that it goes in return for little in providing the minimum services, stressing that it is the worst kind of economy at all, because it is like selling your household appliances, a house, and a car in exchange for money that Spend it quickly}.
And he indicated that "the industrial economy is better than rentier, as it is based on converting the state's natural resources into industries, which doubles the value of one resource, to return to the state tens of times, instead of the rentier economy."
With 50 dollars, the industrialized state converts this barrel into various industries, and these countries earn more than 10 times from a single barrel of oil what the rentier state earns, and the industrial economy is known as the hard-working and hardworking economy And productivity}.
As for the knowledge economy, it is the best, finest, and most profitable type of economy, as it is based on creativity and innovation and on the manufacture of new products with high value for people in exchange for a very low industrial cost, and the countries of the knowledge economy earn many times what the industrial economy countries earn.
Al-Shadd pointed out that {the gain of selling a single smartphone exceeds the gain of producing 20 barrels of oil from effort, costs, risks, extraction, refinement and manufacturing, so the effort of making a smart phone is never comparable to the effort, cost and time of extracting a barrel of oil, pointing out that the countries of the knowledge economy focus on quality Education, the real development of creativity and innovation, and the development of sound thinking. This economy is known as the economy of creativity, quality and intelligence. LINK
Brent Crude Rose To More Than $ 70
Tuesday 01, June 2021 09:49 | Economical Views: 272 Baghdad ( NINA ) - Oil prices rose today, Tuesday, to more than $ 70 per barrel, ahead of a meeting of the (OPEC +) coalition, backed by hopes for fuel demand growth in the coming months. And a barrel / Brent / rose by 09:05 Baghdad time for futures contracts at the level of $ 70.26 a barrel, an increase of 0.94% over the previous settlement price.
Whereas, US West Texas Intermediate crude oil futures rose 1.36% to $ 67.68 a barrel. / End 3
https://ninanews.com/Website/News/Details?key=907412
Al-Hakim Receives US Ambassador Matthew Tueller
Tuesday 01 June 2021 197 Baghdad: Morning The head of the National State Forces Alliance, Mr. Ammar al-Hakim, received the US ambassador to Baghdad, Matthew Toller.
Its transparency. Al-Hakim said, according to a statement, that "Iraq pays attention to its foreign relations out of common interests and respect for its sovereignty," stressing "the importance of developing relations between Iraq and the United States and the importance of focusing more on the economic and service side."
He stressed, "the necessity of holding early elections on time, while preparing the requirements and conditions for their success, foremost of which is electoral security, so that their outputs express the aspirations and desires of citizens." LINK
To read more current and reliable Iraqi news please visit BondLady’s Corner: