Sunday Morning Iraq Economy News Highlights 6-19-22
Sunday Morning Iraq Economy News Highlights 6-19-22
“Economic Futility” .. Why Does Iraq Import Gasoline From Kuwait?
Economic Last Update 06/18/2022 |Information / Baghdad.. Economic expert Nabil Al-Marsoumi confirmed, on Saturday, that Iraq imports gasoline from Kuwait, although it produces twice as much crude oil as the Gulf state.
Al-Marsoumi said in a Facebook post entitled “A Model of Economic Absurdity in Iraq”, which was reviewed by / the information, that “Iraq produces twice as much crude oil as Kuwait,” adding that “Iraq produces 4.5 million compared to 2.7 million barrels per day in Kuwait.”
He added, "Kuwait repeats twice as much crude oil as Iraq repeats. Kuwait's refining capacity is 1.4 million, compared to 800,000 barrels per day in Iraq."
He explained that "Iraq imports oil derivatives with an annual value that may reach $6 billion by the end of 2022, of which $5 billion is gasoline, and Kuwait is one of the important countries exporting gasoline to Iraq." finished/25h https://almaalomah.me/2022/06/18/604186/
Al-Kazemi And Saudi Arabia .. “Common Interests To Pass Violating Projects”
Politician Last Update 06/18/2022 Information/Exclusive.. The representative of the State of Law coalition, Aref Al-Hamami, confirmed that the outgoing Prime Minister Mustafa Al-Kazemi’s closeness to Saudi Arabia is due to many reasons that serve both parties, while indicating that Riyadh is trying to enter Iraq under the pretext of investment and reconstruction.
He continued, "Al-Maaloma" channel on Telegram.. news that does not need documentation..
Al-Hamami said in an interview with "Al-Information" agency, that "Al-Kazemi is trying to get closer to Saudi Arabia for reasons that serve both parties, including trying to seek help from neighboring countries to renew a second term and lead the prime ministership again," noting To, that "the second reason is the material and moral support he is trying to provide to Riyadh."
He added, "Saudi Arabia is trying to enter Iraq through its relations with Al-Kazemi, under the pretext of the aspect of investment and reconstruction to stay in Iraqi lands," noting that "Riyadh will work to carry out projects that are dominated by the terrorist side in the event that these agreements are passed."
The member of the House of Representatives explained that “Al-Kazemi insists on passing the violating projects, around which a thousand question marks are raised,” noting that “the current government, despite the availability of all possible facilities, did not provide any service benefit to the country.”
A member of the Electricity and Energy Committee, Suhaila Al-Sultani, had previously described the electrical linkage project with Saudi Arabia as a failure that does not work, while confirming that the project is based on courtesies made by political parties that want to benefit at the expense of public money. Done/25 SR https://almaalomah.me/2022/06/18/604093/
Al-Zaidi: The Time Has Come To Raise The Slogan "The Transit Of Goods And Exports In Exchange For The Passage Of Water To Iraq"
Policy 2022-06-18 | 06:54 6,773 views The Secretary-General of the Imam Ali Brigades, Shibl al-Zaidi, said today, Saturday, that it is time to raise the slogan "the transit of goods and exports in exchange for the passage of water to Iraq."
Al-Zaidi said in a tweet followed by Alsumaria News, "It is time for every jealous Iraqi who loves his country, as citizens and mass activities, and as a result of the weakness of the foreign policy of successive governments since the occupation until now, to unite as a people and defend our interests and the future of our children to raise the slogan of the passage of goods and exports in exchange for the passage of water to Iraq." LINK
Dollar Exchange Rates In Local Markets
Economie 2022-06-19 | 03:42 1,785 views Alsumaria News – Economy The dollar exchange rates witnessed stability today, Sunday, on the Iraqi Stock Exchange. The selling prices of the dollar were 148,500 dinars per $100, while the purchase prices of the dollar were 148,400 dinars per $100. LINK
Finance Minister: There Is A Great Opportunity For Iraq To Become The Largest Producer Of Electric Energy[/Size]
Iraq 04:45 - 06-18 2022 Federal Minister of Finance Ali Allawi called, today, Saturday, to move from exporting oil to electric power, and while he stressed that there is a great opportunity for Iraq to become the largest producer of electric energy, he indicated that Iraq can return to the World Trade Organization during the coming decades.
Allawi said, in a speech during the Energy Forum, that "Iraq should not be satisfied with exporting oil and should focus on exporting energy and focus on the electricity sector," noting that "Iraq is now not in the previous situation where it faces problems and must reach the right strategies."
He added that "during the next 25 years, the demand for energy will change, and we have to prepare for this culture and pay attention to the economic infrastructure," stressing "the need for economic policies to be designed according to the circumstances surrounding the world, and this is not an easy task."
He pointed out, "the shift to the so-called additional value in the export of oil and the reliance that Iraq is the least expensive country in oil production, but there is competition in the sale of oil," adding: "We have to think about the transfer of capital for investment and preservation."
He stressed that "there is a great opportunity to invest in the electricity sector and to become the largest producer of electrical energy, despite the current problems in production in Iraq, and these problems must be resolved, technology applied, and the transition from exporting oil to exporting electrical power."
He continued, "We also need to develop the green cover, as there are problems in the environment sector, desertification and weakness in agricultural production, and we have to think about investing in the green policy in Iraq and it will be more effective on the reality of the country."
He continued: "We have to work through an energy network and exploit it as a new resource, and re-cultivate and develop it according to correct decisions so that we have a bright future in the global market within 10 years, and not repeat the mistakes of the past, and we must reposition in the energy market."
He concluded by saying: "During this conference, we look forward to talking about energy problems, and we have an opportunity to reposition ourselves with partners, and Iraq can return to the World Trade Organization during the coming decades." https://kirkuktv.net/AR/Details/6858
Petroleum Products: There Is No Fuel Crisis
Economie| 09:14 - 06/18/2022 Baghdad - Mawazine News, on Saturday, the Oil Products Company reassured the citizens that there is no fuel crisis in Baghdad and the provinces.
The director of the company, Hussain, said, "The processing of gas stations is carried out on the basis of the actual need of the governorate, and queues usually take place in the evening at peak times at all stations due to the high temperatures. Therefore, the Oil Products Company proceeded to operate fuel stations around the clock to absorb the momentum in them." .
He added, "Increasing the number of vehicles in the country requires the provision of large quantities of oil derivatives, and there is no fuel crisis in the country and there is no increase in prices."
And Talib said that "the fuel crisis in the Kurdistan region negatively affected the provinces of Kirkuk and Nineveh because of the price difference," explaining, "Nineveh is preparing today, in addition to the same provinces of Erbil and Dohuk." Ended 29/p. 87 https://www.mawazin.net/Details.aspx?jimare=196873
A Promising Statement For Iraq From The Secretary-General Of OPEC: The Demand For Oil Will Increase
Economie| 03:50 - 06/18/2022 Baghdad - Mawazine News, Secretary-General of the Organization of Petroleum Exporting Countries "OPEC", Muhammad Barikendo, announced today, Saturday, the need for the international economy for energy and the use of renewable ones, and while noting the scale of the increase in energy use during the next two years, he stressed the need to deal with all challenges to ensure global energy supplies.
During his speech at the Energy Forum, Barkindo said, "I commend the efforts of the Iraqi institutions to prepare this summit and the attendance of high-class experts," noting that "this event comes in difficult periods in this sector, as the world experiences the repercussions of Corona, in addition to the supply interruption due to the Ukraine war." .
He added that "
He continued, "All challenges must be dealt with to ensure global energy supplies, and we need a future vision that enables us to control energy prices and face the dire repercussions of the crises."
He pointed out that "the strategic reserve has been used and more than 30 million barrels have been pumped since May, and we are still looking for solutions to meet the challenges of climate change and challenges in the energy field," adding: "We need sustainable solutions, not urgent, and there is no better than this forum. To find solutions to all the problems.
He stressed "the need for a comprehensive approach to avoid instability in the energy market," noting that "the international economy will need double the energy it consumes from spending 124 trillion dollars in 2020, to 270 trillion dollars in 2024."
And he added, "There will be an increase in energy from 224 million to 300 million barrels in 2024, and there is no energy source that can cover this demand."
He pointed out that "the use of renewable energy in 2020 amounted to 2.24%, and in 2024 it will reach 10%," noting that "the oil need for energy during the past year 2020, amounted to 30%, and in 2045 the need will reach 50%." End 29 /h https://www.mawazin.net/Details.aspx?jimare=196830
Finance Minister: Iraq Should Pay Attention To The Export Of Electricity
Economie| 02:58 - 06/18/2022 Baghdad - Mawazine News, Minister of Finance Ali Allawi called, today, Saturday, to move from exporting oil to electric power, and while he stressed that there is a great opportunity for Iraq to become the largest producer of electric energy, he indicated that Iraq can return to the World Trade Organization during the coming decades.
Allawi said, in a speech during the Energy Forum, that "Iraq should not be satisfied with exporting oil and should focus on exporting energy and focus on the electricity sector," noting that "Iraq is now not in the previous situation where it faces problems and must reach the right strategies."
He added that "during the next 25 years, the demand for energy will change, and we have to prepare for this culture and pay attention to the economic infrastructure," stressing "the need for economic policies to be designed according to the circumstances surrounding the world, and this is not an easy task."
He pointed out, "the shift to the so-called additional value in the export of oil and the reliance that Iraq is the least expensive country in oil production, but there is competition in the sale of oil," adding: "We have to think about the transfer of capital for investment and preservation."
He stressed that "there is a great opportunity to invest in the electricity sector and to become the largest producer of electrical energy, despite the current problems in production in Iraq, and these problems must be resolved, technology applied, and the transition from exporting oil to exporting electrical power."
He continued, "We also need to develop the green cover, as there are problems in the environment sector, desertification and weakness in agricultural production, and we have to think about investing in the green policy in Iraq and it will be more effective on the reality of the country."
He continued: "We have to work through an energy network and exploit it as a new resource, and re-cultivate and develop it according to correct decisions so that we have a bright future in the global market within 10 years, and not repeat the mistakes of the past, and we must reposition in the energy market."
He concluded by saying: "During this conference, we look forward to talking about energy problems, and we have an opportunity to reposition ourselves with partners, and Iraq can return to the World Trade Organization during the coming decades." https://www.mawazin.net/Details.aspx?jimare=196822
Deputy Criticizing The Work Of Electricity: It Has Become A Ministry Of Words, Not Deeds
Political | 12:02 - 06/19/2022 Baghdad - Mawazine News, MP and member of the Parliamentary Oil and Gas Committee, Muhannad Al-Khazraji, criticized today, Sunday, the performance of the Ministry of Electricity, as it has become incompatible with the tasks entrusted to it, noting that "the ministry has become a ministry of words, not actions.
" Al-Khazraji said in a statement received by Mawazine News. From him, "The Ministry of Electricity suffers from job inflation, which has reached its highest levels and has become unable to provide electrical energy, which made the citizen orbit in the orbit of promises made, and billions that were wasted and promises became utterances without actions of the officials who successively took over the ministry."
He called in the statement, " The Prime Minister decided to occupy the position of Minister of Electricity from a lower position due to the failure of its officials to provide electrical energy, as it is the spark that ignites the street all the time and when due to the rampant corruption in its joints.
The disruption of water dialogues with neighboring countries threatens the water reserves
Posted On2022-06-19 By Sotaliraq Baghdad / Hussein Hatem Despite the threat to cut economic relations with the Turkish and Iranian sides if the water issue in Iraq is not addressed, the scarcity still exists without any solutions.
The Ministry of Water Resources is still waiting for the Turkish delegation, which is supposed to attend after the month of Ramadan, but the ministry attributes the delay in the delegation's visit to the unknown. On the other hand, the Water Resources confirmed that the Iranian side changed the course of 4 rivers.
Aoun Diab, a consultant to the Ministry of Water Resources, said that "there are no new developments regarding the negotiations on the water file with the Turkish and Iranian sides."
Diab added: "The Turkish side was supposed to come to Baghdad, but we do not know the reasons that disrupted his visit," expecting that it was "due to the government formation crisis and the political blockage in Iraq."
As for the Iranian side, he stated, “Iran has changed the course of 4 rivers into its territory, which previously flowed into Iraq and supplied its rivers with good water rations,” noting that the four rivers are: “Zamkan, Abbassian, Sirwan and Alwand.”
Diab continued, "As for the internal level, the ministry went to use the worst options, which is to use the available water storage in a reasonable manner and away from waste."
In turn, spokesman for the Ministry of Water Resources, Ali Radi, said, "The water releases currently in the Tigris River are sufficient releases to meet all requirements of securing raw water for liquefaction and agriculture stations and other requirements."
]Iraq suffers from severe water scarcity, caused by high temperatures, drought, climate change and the continuous withdrawal of water by neighboring countries from the Tigris and Euphrates rivers.
For his part, the water expert, Adel Al-Mukhtar, believes that "the water situation in Iraq has reached a dangerous level that may lead to a further reduction in the areas of irrigated agricultural land compared to last season."
He stressed the need for "there should be a strong position on the neighboring countries, because Iraq and these countries are not enemies."
He pointed out that "ignoring Iraq's rights and ignoring its appeal prompted the Deputy Speaker of Parliament to scold the Turkish and Iranian sides, especially since the situation requires a strong reaction."
The First Deputy Speaker of the House of Representatives Hakim Al-Zamili had previously threatened to legislate a law criminalizing economic dealings with Turkey and Iran if they did not respond to Iraq's demands regarding its water quotas.
Before his resignation from Parliament, Al-Zamili likened what Iran and Turkey were doing towards Iraq to Israel's policy, saying, "Israel is killing us with fire, and the Iranians and Turks target us by killing us by cutting off our water." LINK