Thursday Afternoon Iraq Economic News Highlights 7-28-22
Thursday Afternoon Iraq Economic News Highlights 7-28-22
Integrity returns more than 350 million to the state treasury.. Where was it?
Internationals 2022-07-28 | 03:50 Alsumaria News – Localities The Federal Integrity Commission announced today, Thursday, that it was able to return more than (350,000,000) million dinars to the state treasury, indicating that these amounts were owed by the "principal of the Iraqi school" in New Delhi previously.
The Commission's Investigation Department stated in a statement received by Alsumaria News, "After taking legal measures, the Commission's efforts in follow-up and investigation led to the return of the implication amount of (354,811,374) million dinars from the former director of the "Iraqi School" in New Delhi to the public treasury, according to the provisions of Article (331) of the Penal Code, for intentionally committing a violation of his job duties with the intent of causing harm.
The department added that "the accused organized exchange documents and received the amounts for his personal benefit, indicating that he organized a payment document for the paint of the school building, while the contract concluded with the owner of the building included that the owner paints the building every two years, as well as exchange documents for the fees of transporting students and the value of the uniform. them, which investigations proved that they were met by the students’ parents.”
She explained that "the accused exceeded the limits of his job by opening two schools in the cities of "Allahabad" and "Hyderabad" without obtaining fundamentalist approvals, in addition to disposing of school furniture, and organizing receipts for the purchase of furniture and new "antiques" contrary to reality, and they were not handed over to the administration. The new school, based on the handover report. LINK
Competitive Prices) .. Trade: We Have Completed Preparations For The Launch Of The Subsidized Loaf Project[/Size]
Political | 10:44 - 07/28/2022 Baghdad - Mawazine News, Thursday, The Ministry of Commerce announced the completion of its preparations to operate its government bakeries and launch the subsidized loaf project.
General Director of the General Company for Grain Manufacturing, Atheer Daoud Salman, said in a statement, "The company has completed its readiness to launch its project to support the loaf by offering its new production of automatic bread and Arabic bread produced by its government bakeries at competitive subsidized prices."
He added, "The final stages of maintenance work have been reached in the Al-Kadhimiya bakery complex of the company, and the initial operation has been conducted for the purpose of starting production and launching the subsidized loaf project adopted by the Ministry of Commerce."
He pointed out that "the company is working at an accelerated pace to rehabilitate its production sites, whether they are factories for the production of flour or multi-product ovens, and to open new marketing outlets in cooperation with the private sector or by using available self-means and supplying the market with government samoun and Arabic bread at competitive prices."
He continued, "We strive to develop the means of work in the manufacture of grains, search for expansion of the company's activity, and open investment horizons that contribute to maximizing and enhancing its resources." Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=200721
Representative Ali Shaddad Reveals The Issuance Of Final Approvals To Start Implementing The First Phase Of The Integrated Zubair Sewer Project
Posted On2022-07-28 By Sotaliraq The Minister of Planning, Eng. Khaled Al-Obaidi, the future representative of Basra Governorate, Ali Shaddad
The representative of Basra Governorate, “Ali Shaddad,” revealed the approval of the Ministry of Planning and the Ministerial Council for the Economy to start implementing the first phase of the integrated Zubair sewage project and to add a set of other accessories to the project, which would upgrade the infrastructure of Zubair district.
Shaddad pointed out that the Ministry of Planning stressed that the actual start of implementing the first phase of the integrated Zubair sewage project does not require the issuance of a decision by the Council of Ministers, and therefore Basra Governorate will be concerned with referring the project and its implementation.
He pointed out that "this project will achieve a major qualitative leap in the Zubair district in the field of infrastructure, roads and municipalities, and contribute to the appearance of the district in a manner that is commensurate with its social status and economic importance." LINK
Chinese Companies Embark On A Set Of Strategic Projects In Dhi Qar
Posted On2022-07-28 By Sotaliraq Dhi Qar / Hussein Al-Amel The local government in Dhi Qar revealed a preliminary agreement with the Chinese side to prepare a strategic project plan in the urban, industrial, urban expansion and transportation sector, explaining that implementation will be through the governorate budget and the Iraqi-Chinese agreement or according to the investment law.
The Governor of Dhi Qar, Muhammad Hadi Al-Ghazi, said in a statement followed by (Al-Mada), that "the agreement with the Chinese company (CBRC) has reached its final stages."
Al-Ghazi added, "The agreement stipulates that the company will start working on preparing strategic plans for the governorate for a period of two years, without any financial compensation."
He pointed out, "The government will initiate any project approved by the local and central governments," noting that "the financial allocation for the approved project will either be through providing financial credit, or by including it within the Iraqi-Chinese agreement, or for the company to implement it in accordance with the Investment Law."
Al-Ghazi revealed a number of "projects that will be included in the plan, including preparing a study for the establishment of a new sustainable city between Mr. Sharif's site, the Euphrates River and the international road."
He pointed out that "the plan also includes the establishment of the largest economic zone in Iraq between Tal Lahm Road, the International Traffic Road, and the airport."
Al-Ghazi noted, "a project to treat and recycle waste, and build roads, bridges and tunnels for urban expansion areas, as well as smart and sustainable transportation within the city center." The local government in Dhi Qar province revealed last year trends to attract more Russian and Chinese companies within its plan to develop the investment sector and implement strategic projects in the province, stressing that the companies are the closest to reality and application as they have been working for several years in oil projects in the province.
Several Chinese companies are working in Dhi Qar province within the development of the Al-Gharraf oil field, the project to rehabilitate the Nasiriyah airport, and other projects for the construction of school buildings
For his part, the journalist Adnan Aziz Dafar Al-Saadawi said in an interview with (Al-Mada), that "Dhi Qar needs a comprehensive strategic plan that defines the priorities of the projects that the governorate needs."
Al-Saadawi stressed the need to “adopt a roadmap according to which the priorities of projects are determined to be implemented within an annual and five-year plan.”
He pointed out, "the futility of random decisions that are being taken under the pressure of the demonstrations or the loud voice," stressing that "the reconstruction and investment programs require sober plans and vigorous follow-up to overcome obstacles and accelerate the pace of work."
Al-Saadawi believes, "Dhi Qar needs to speed up the launch of the announced projects within the industrial city and provide the appropriate environment to encourage local industries according to controls that make them able to compete with imported goods." And he demanded, "The local government follows up on the announced previous projects and is still reluctant, especially projects that would provide job opportunities for the unemployed graduates and others."
Al-Saadawi pointed out that "many investment projects are still suspended, and even the Investment Authority has been suspended for a while, following the demonstrations calling for a change of its director." He called, "to resolve the problem of lagging projects and activate the role of the Investment Authority in proportion to the governorate's need for investment projects." Al-Saadawi also spoke about the importance of “adhering to the time limit for implementing projects in order to provide their services in a timely manner.”
He stated, "If the local administration is looking for reconstruction and investment, it must provide a safe environment to work in this field." Al-Saadawi went on to say that "work, especially investment, cannot take place in an unsafe environment, because capital is cowardly and requires reassurance first by securing appropriate conditions." In the middle of last year, the General Secretariat of the Council of Ministers referred a project to rehabilitate Nasiriyah International Airport to a Chinese company at a cost of $367 million.
The local government revealed at the time that the Chinese company had completed all the steps of contracting with the Civil Aviation Authority and that it would start implementing the airport project in the coming months.
Last year, Dhi Qar Governorate announced the start of work to establish more than one hundred modern schools throughout the governorate. She explained, "The Chinese company contracting to develop and rehabilitate Nasiriyah International Airport, has also started effectively establishing more than a hundred schools, according to modern designs and modern specifications. LINK
SOMO: 850 Thousand Barrels Per Day Will Be Added To Iraq's Export Capacity Within 6 Months
The headquarters of the oil marketing company "SOMO"
Energy Economy News – Baghdad The Iraqi Oil Marketing Company "SOMO" revealed the intention of the Ministry of Oil to add 850,000 barrels per day to Iraq's export capacity within 6 months, adding that the Ministry of Oil is currently working on reactivating the Al-Amaya port in Basra in order to export one million barrels per day in the year 2024.
Iraq currently has two oil export outlets, the first from Basra through the ports, which constitutes 97% of the total exports, and the other is the Ceyhan port, which is a joint pipeline between Baghdad and Erbil, in which the region’s oil quantities are exported, amounting to 400,000 barrels per day.
The Director of the Market Research and Strategic Planning Authority at SOMO, Muhammad Saadoun, told the Duty of Frankness program broadcast by Al-Iraqiya channel, and reviewed by "Economy News", that "the Ministry of Oil is working to increase the export capacity within 6 months by 250 thousand barrels per day by replacing equipment in Floating platforms in the port of Basra.
He stressed that Iraq owns two pipelines for exporting oil with Turkey, but they stopped due to the events of ISIS, and now the pipeline that passes from Kirkuk to Baiji and then Turkey, the projects company in the Ministry of Oil is rehabilitating it and within 3 months it will enter service with a capacity of 600,000 barrels per day.
There are major differences between the federal government and Turkey as a result of Ankara allowing the Kurdistan region to export oil independently from Baghdad, and there is now a lawsuit in one of the international courts between the two countries.
And Iraq exported, during the last month, 3.37 million barrels per day, which brought in more than 11.3 billion dollars, thanks to the high oil prices, which exceeded the monthly average of 112.2 dollars per barrel.
He added that the Japanese loan project, which will contribute to the activation of the Al-Amaya port and the establishment of a floating platform, will enter service during the year 2024, and give us an additional export capacity of one million barrels per day.
He pointed out that in 2026, the rehabilitation of the export platforms at the Basra port will be completed, which will add 750,000 barrels per day. Views 31 Added 07/28/2022 - 12:31 PM Update 07/28/2022 -
https://economy-news.net/content.php?id=29056
India's Imports Of Iraqi Oil Decreased By 10% In The Past Months
Energy Economy News-Baghdad It seems that Russian oil is on its way to the Indian and Chinese markets at the expense of Iraq and Saudi Arabia's share in the largest oil consuming region in the world, as refineries in India buy cheap Russian barrels in a large way .
India's voracious appetite for low-priced Russian oil is eroding the dominance of traditional suppliers from the Middle East, Africa and the United States in one of the world's most profitable markets .
The share of the Eurasia region, which includes Russia, in India's total imports of crude oil reached a record level of 18.8% during the period from April to June, compared to 3.4% in the previous twelve months .
The data showed that oil imports from Russia rose 15.5% in June compared to May, while imports from Iraq and Saudi Arabia declined by 10.5% and 13.5%, respectively, bringing the Middle East's share to 56.5% from 59.3% .
Russia remained India's second largest oil supplier after Iraq, while Saudi Arabia remained in third place for the second month in a row .
Cheaper Russian oil reduces losses to India's state-run refineries that sell fuel at low prices in the domestic market, while adding to the profits of India's private companies Reliance Industries Limited (RELI.NS) and Nayara Energy, which export most of their refined products .
20 . views Added 07/28/2022 - 10:15 AM Update 07/28/2022 - 11:49 AM