Wednesday PM Iraq Economy News Highlights 6-1-22

Parliamentary Oil: Iraq loses about 3 billion dollars annually from burning associated gas[/size]

Economie| 10:36 - 01/06/2022   Baghdad - Mawazine News, Deputy Chairman of the Parliamentary Oil and Gas Committee, Ali Al-Machkoor, revealed that Iraq "wasted" three billion dollars annually from burning associated gas in its fields.

Al-Maskoor said in an interview with the official newspaper, that "Iraq loses about 3 billion dollars annually from burning associated gas in its fields," noting that "the committee began to move on the Basra Gas Company after its delay in this project."

He added, "The committee's first visit was to the company," noting that "Basra Gas is an institution of three parties; 51 percent for the Iraqi side, represented by South Gas, 44 percent for Shell, and 5 percent for Mitsubishi, and each of these companies plays the role required of it in this company".

And he indicated, "The origin of the contract is the development of South Gas," explaining that "

Al-Machkour added, "The committee will pay great attention to the pollution file related to this project, and will submit proposals to issue a law on it." https://www.mawazin.net/Details.aspx?jimare=195111

Oil Prices Cross The Barrier Of 123 Dollars A Barrel

Economie   08:58 - 05-31-2022  Oil prices rose, today, Tuesday, to their highest level in two months, after the European Union decided to ban 90% of Russian oil as part of a meeting related to the sixth package of sanctions against Moscow over the war on Ukraine.

Brent crude futures rose more than a dollar to $123 a barrel, while US West Texas Intermediate crude futures jumped a dollar to $116.10 a barrel, continuing strong gains made last week.

The ban on Russian oil will lead to a shortage in the crude oil market, which is already suffering from supply pressures amid increased demand for gasoline, diesel and jet fuel ahead of the peak summer demand season in the United States and Europe.   https://kirkuktv.net/AR/Details/6419

Iraq Earns More Than 11 Billion Dollars From Its Oil Exports In May

Economie| 12:08 - 01/06/2022   Baghdad - Mawazine News  The Ministry of Oil announced, on Wednesday, the total exports and revenues achieved for the month of last May, according to the preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO).

The ministry's media office said in a statement received by Mawazine News that "the total amount of crude oil exports amounted to 102 million, 303 thousand and 20 barrels, with revenues of $11.436 billion."

The statement added, "The total quantities of crude oil exported for the month of May from oil fields in central and southern Iraq amounted to 98,946,914 barrels, while from Kirkuk fields through Ceyhan port, the exported quantities amounted to 3,2,133 barrels."

He pointed out that "the average daily quantities amounted to 3 million and 300 thousand barrels per day," continuing that "the average price of one barrel amounted to more than (111.79) dollars." Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=195123

A Meeting In Parliament To Discuss The Possibility Of Appointing This Segment

Political | 11:48 - 01/06/2022   Baghdad - Mawazine News: The Parliamentary Health Committee is holding a meeting headed by the First Deputy Speaker of Parliament Hakim Al-Zamili and in the presence of Health Minister Hani Al-Uqabi, to discuss the possibility of appointing graduates of health and medical professions for the year 2020-2021.

And the department said in a statement received by Mawazine News, that "under the chairmanship of the First Deputy Chairman of the Council, Hakim Al-Zamili, the Parliamentary Health and Environment Committee will hold a meeting in the presence of the Minister of Health and the advanced cadre of the ministry, the President of the Federal Council, the Undersecretary of the Ministry of Agriculture, the Captain of Iraqi Pharmacists, representatives of the General Secretariat of the Council of Ministers. ".

In its statement, the department added that the meeting comes to "discuss the possibility of appointing graduates of health and medical professions for the year 2020-2021." Ended 29/N33

https://www.mawazin.net/Details.aspx?jimare=195120

The Oil And Gas Committee Hosts The Advanced Cadre In The Ministry Of Oil

political| 11:05 - 01/06/2022  Baghdad - Mawazine News   The Parliamentary Oil, Gas and Natural Resources Committee hosted, today, Wednesday, the advanced cadre in the Ministry of Oil to review the work of the ministry and its formations.

The Media Department of the House of Representatives stated in a statement that Mawazine News received a copy of it, that "the Parliamentary Oil, Gas and Natural Resources Committee hosted the advanced cadre in the Ministry of Oil to review the work of the ministry and its formations." Ended 29/M 99 https://www.mawazin.net/Details.aspx?jimare=195116

Iraq.. Parliamentary Committee Approves Two Things To Pay Off Iranian Debt

Posted On2022-06-01 By Sotaliraq   The “Electricity and Energy” committee in the Iraqi parliament revealed, on Tuesday, that there is an agreement within the committee on two matters regarding the payment of the Iranian side’s dues for the gas supplied to the country, amounting to 1.6 billion dollars.

Iraq.. Parliamentary committee approves two things to pay off Iranian debt   The National Iranian Gas Company had obligated Iraq to pay this amount, no later than the end of June, in return for continuing to supply gas to it according to the volume specified in the bilateral agreement between the two countries.

The deputy head of the committee, Dakhil Radi, said that “the agreement within the committee in this regard is either for Parliament to vote on the food security law, or to go to borrow from the Ministry of Finance to pay the Iranian dues.

Radi added, "The Parliamentary Electricity and Energy Committee held more than one meeting that dealt with the Ministry of Electricity's plan and the problems and obstacles it suffers from, and it will host the Minister of Electricity during the next two days, (Wednesday or Thursday) to discuss the matter."

He explained that "there is a set of questions that will be directed to the minister, during the hosting, which is the ministry's possibility and its readiness for the current summer season, in addition to the issue of the supplied gas."

Iraq, which depends on Iranian gas to produce electricity, has suffered from a chronic electricity shortage crisis for decades as a result of the siege and successive wars.

For many years, residents have protested against frequent power cuts, especially in the summer, when temperatures sometimes reach 50 degrees Celsius.

Iraq is holding talks with Gulf countries, led by Saudi Arabia, to import electricity from them by linking its system with the system of the Persian Gulf states, after it had depended on Iran alone during the past years by importing 1200 megawatts as well as gas fuel to feed local electric power stations.

Iraq also intends to import electricity from Jordan and Turkey, in an effort from Baghdad to fill the shortage until building power stations that are able to meet local consumption.   LINK

15 Percent Of Iraqi Oil Flows To Europe And Asia Gets The "Lion's Share"

Shafaq News/ One of the international companies, Kpler, concerned with monitoring oil flows from producers to consumers, revealed that 15 percent of Iraq's oil exports were transferred to Europe in 2021.

The company said in a report seen by Shafak News Agency, that "European countries received 15 percent of Iraq's crude oil exports in 2021, equivalent to 439,000 barrels per day," noting that "these exports shrank slightly in May of this year to 390 thousand barrels a day.

Kepler data showed that "Asia obtained the lion's share of Iraqi crude exports in 2021, or 76 percent of the total, or the equivalent of more than two million and 200 thousand barrels."

The Director-General of the Iraqi Oil Marketing Company "SOMO" Alaa Al-Yasiri said during his hosting by the Parliamentary Oil and Gas Committee yesterday that "the Iraqi state oil marketing company has contacted French traders about the possibility of supplying Europe with crude, at a time when the European Union is seeking to implement an embargo on Russian maritime imports.

He added, "Iraq is committed to the decisions of OPEC," stressing his company's interest in the Indian and Chinese government oil companies because they are dealing with a long-term contract and the company cannot lose its customers, noting that "the targets of Iraqi crude oil are oil refineries, to process its crude, which will allow the second The largest producer in OPEC is an opportunity to benefit from Europe's search for alternative supplies from Russia."

The European Union's ban on seaborne Russian oil imports, announced in late May 30, is expected to reshape global energy flows already disrupted by Russia's invasion of Ukraine.

SOMO officials had previously spoken that Iraq intends to redirect crude flows from Asia to Europe.

Traders said: The Iraqi Basra Medium and Basra Heavy varieties are in strong demand in Europe after their displacement in Asia due to the Russian Ural Mountains, which have similar characteristics.  LINK

A Deputy Reassures Contract Employees: There Is An Agreement Between The Government And Parliament To Install Them On The Permanent Owners

Shafaq News/ The representative of the "Al-Sadiqun" parliamentary bloc, Uday Awad, revealed on Tuesday that the House of Representatives and the Ministry of Finance agreed to reduce the period of entitlement to install contract employees from five years in service to two years.

Awad told Shafaq News Agency, "The House of Representatives currently has two options, either to approve the financial budget law for the year 2022 or to approve the emergency support law for food security and development, and we will go with the law whose approval does not conflict with the Iraqi constitution."

He stressed that "the Ministry of Finance agreed to reduce the period of fixing contract employees in ministries and state institutions from five years to two years to install them on permanent owners."

He added, "The paragraph of fixing contracts is not specified by law. It may be included in the budget law or emergency support for food security, and in both cases there is an agreement between the House of Representatives and the Ministry of Finance to guarantee the right of contract employees to be fixed on permanent owners."

Awwad reassured the contracting staff by saying, "The inclusion of the paragraph of fixing contracts on the permanent owners requires a financial allocation, and there is unanimous approval to add it."

Earlier today, a member of the Parliamentary Finance Committee, Ikhlas Al-Dulaimi, told Shafaq News Agency, "The Parliamentary Finance Committee will hold a meeting tomorrow and will discuss the response of the Minister of Finance regarding his request to obtain an authorization and a financial allocation to install contracts on the permanent owners."

Yesterday, Monday, the Ministry of Finance decided to include the allocations necessary to convert the free lecturers and administrators in the Ministry of Education into contracts in accordance with Resolution 315, and it has no objection to implementing this, in the event the House of Representatives desires, a request to include a text authorizing the Federal Minister of Finance to create degrees for the nominees to them in addition to financial allocations for the purpose managed search.

In many governorates, over the previous periods, demonstrations were witnessed in which the lecturers, the daily procedure and the contractors were demanding their confirmation and fairness of their rights in permanent appointment to the owners of the ministries to which they belong. And the law enforcement forces to protect the Green Zone, which includes the headquarters of the Iraqi government, after the demonstrators demanded their inclusion in Resolution 315, before the protest developed into a verbal altercation and friction with the security forces.

Resolution "315" includes mechanisms to address the status of workers as contracts and daily wages in various government institutions, which the Council of Ministers voted on in 2019.   LINK

Parliamentary Committee: Iraq Wastes This Amount Annually Due To Burning Gas

ECONOMIC  06/01/2022 | 10:17 AM  The Information/Baghdad:   The Deputy Chairman of the Parliamentary Oil and Gas Committee, Ali Al-Machkoor, revealed, on Wednesday, that Iraq wastes three billion dollars annually from burning associated gas in its fields, stressing that an investigation has been opened with the delay of the Basra gas project.

Al-Machkour said in an interview seen by / the information /, that "Iraq loses about 3 billion dollars annually from burning associated gas in its fields," noting that "the committee began to move on the Basra Gas Company after its delay in this project."

He added, "The committee's first visit was to the company," noting that "Basra Gas is an institution of three parties; 51 percent for the Iraqi side, represented by South Gas, 44 percent for Shell, and 5 percent for Mitsubishi, and each of these companies plays the role required of it in this company.

Al-Maskoor explained, “The origin of the contract is the development of South Gas,” explaining that he was “surprised that there is no proper activation and movement in these aspects, and that the project is still sluggish and the rate of completion is low, and the committee is continuing to find out who is responsible for this delay,” noting that “the committee will take over The pollution file of this project is of great interest, and proposals will be submitted to issue a law on it.” finished/25   https://almaalomah.me/2022/06/01/601020/

Deputy: The Vote On The Emergency Support Law Awaits The Resolution Of 3 Files

Political | 09:24 - 01/06/2022  Baghdad - Mawazine News  Member of Parliament Amir Al-Maamouri confirmed, today, Wednesday, that the vote to pass the emergency support bill for food security and development is awaiting resolution of 3 files, while noting that adding lecturers to the law will not require an increase in the total amount that was set earlier at (25) trillion dinars.

Member of Parliament Amir Al-Maamouri said, "The Parliamentary Finance Committee deliberated today on setting the terms and sections of the ministries with government officials for the purpose of determining the costs allocated to them in the Emergency Support Law for Food Security and Development."

He added, "We may spend the next week voting on the law, but the matter depends on three things, the first of which is the completion of all its paragraphs in terms of allocations and the distribution of chapters, and secondly, the study of the proposals of the deputies that they requested to be added to the law and submitted to the Finance Committee."

And he continued, "The voting process also awaits, thirdly, the answer of the Ministry of Finance regarding the inclusion of lecturers, contracts and requests for other segments of society," stressing that "the importance of the law lies in the country's need to provide strategic storage and pay the debts of the Ministry of Electricity and other urgent files, including the payment of farmers' dues."

And on the extent to which the total amount of the emergency support law can rise to more than 25 trillion dinars due to the inclusion of new paragraphs, between Al-Maamouri, “We are waiting for a response from the Ministry of Finance regarding the inclusion of the dues of lecturers, administrators and contract holders (315), and I think that there is no need to raise the amount of 25 trillion that was placed To begin with, a transfer can be made to some chapters to ensure that these entitlements are provided.” Ended 29 / pg 87 https://www.mawazin.net/Details.aspx?jimare=195198