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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

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    Saudi Energy Minister: We will develop appropriate mechanisms to achieve economic partnership with I

    Rocky
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    Saudi Energy Minister: We will develop appropriate mechanisms to achieve economic partnership with I Empty Saudi Energy Minister: We will develop appropriate mechanisms to achieve economic partnership with I

    Post by Rocky Sun 22 Oct 2017, 2:04 am

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    Saudi Energy Minister: We will develop appropriate mechanisms to achieve economic partnership with Iraq


    Range / Zahraa Al Jassim 

    الل Allaibi: relations between the two countries are witnessing steady growth in the sectors of energy, oil and trade
     
    The Iraqi Minister of Energy said that the relations between Iraq and Saudi Arabia are witnessing "steady growth" in the sectors of energy, oil, trade and industry. That "the Coordination Council between the two countries will develop appropriate mechanisms to accelerate the realization of economic partnership and activate cooperation and economic integration."
    The Iraqi oil ministers Jabbar al-Luaibi and Saudi Khaled al-Faleh were scheduled to hold a conference during the latter's visit to Iraq on Saturday, but Al-Faleh outlined in a speech during the opening of the Baghdad International Fair the nature of the Iraqi-Saudi relations, Iraq is a key market for Saudi exports, and the latter should try, according to the minister, to enter within the framework of Iraq reconstruction and support sustainable development in Iraq to create an Iraqi market as a promising market for Saudi products that will compete with international products. 
    Al-Falih is the first Saudi official to make a public speech in Iraq for decades, after the two countries began in 2015 to take steps to improve relations after troubled relations over more than 25 years since the Iraqi invasion of Kuwait in 1990.
    The Minister of Energy and Mineral Resources Khalid Al-Falih arrived in Baghdad on Saturday, while the Iraqi Oil Ministry invited the media to attend a joint conference of the Iraqi oil minister with his Saudi counterpart, in conjunction with the launch of the Baghdad International Fair at its 44th session. 
    The Minister of Petroleum and Energy Khalid Al-Falah said in his speech that the volume of trade exchange with Iraq amounted to 170 billion riyals, stressing at the same time the "depth of bilateral relations and coordination in all areas, including decisions on reducing production." 
    Iraqi Oil Minister Jabbar al-Luaibi said after Iraq's minister of energy, industry and mineral wealth Khaled al-Falah arrived in Baghdad that Iraq's relations with Saudi Arabia were witnessing "steady growth" in all fields, despite energy, oil, trade and industry.
    Al-Faleh's visit to Baghdad comes within the framework of the Coordinating Council between the two countries, which will develop the appropriate mechanisms to speed up the partnership Economic cooperation and cooperation and economic integration, as agreed between Saudi Arabia and Iraq, the leading producers of oil in OPEC, to cooperate in the implementation of decisions of the Organization of Petroleum Exporting Countries in relation to reducing the supply of crude to markets to ensure stability 
    The Ministry of Oil in its statement: The Minister of Energy S Awdi Khalid al-Faleh and his Iraqi counterpart Jabbar al-Allaibi met in Baghdad and agreed to cooperate in the implementation of OPEC decisions related to the reduction of global supplies of crude oil.
    On this visit and its importance, says oil expert Dhurgam Mohammed Ali in an interview for "(to the extent), it is very important that Saudi Arabia and Iraq, the largest producers in OPEC, which must coordinate policies from time to time to keep oil prices from deteriorating, The joint positions and the search for export outlets and the possibility of cooperation through the creation of new ports for export in order to increase the market quotas of the OPEC countries in order to maintain the global market and the size of supply and find a real balance between supply and demand to achieve growth in the OPEC countries to be a leader of the production process in the world, Large in the pit At quotas and maintaining prices, but now these effects have fallen to lower levels than previously, Mstrsla:
    The Organization of Petroleum Exporting Countries (OPEC), announced on Saturday, the decline of oil exports to 55.52 dollars per barrel.
    Ali pointed out: the need to discuss several files in this visit as the file of production and the file of the embarrassment of OPEC and make it take a leading role again in the global oil market, in addition to the new rules and policies should be discussed to manage this organization to maintain prices in addition to the attempt to polarize and inclusion The other two countries from outside the OPEC and to encourage them to enter OPEC in order to formulate a global policy for producers better than currently exist, and the two ministers should discuss the joint files on export outlets and alternative emergency outlets in the event of crises in the region because it is a region experiencing constant tensions, The pleasures of the biggest potential of Iraq, they are overlooking the Red Sea and the Arabian Gulf, which is poised to establish new ports and give Iraq an area of ​​export across the Red Sea through the pipeline in order to export Iraqi Saudi.
    On May 22, 2017, Al-Faleh visited Baghdad and discussed with the Iraqi Oil Minister and a number of Iraqi government officials the strengthening of bilateral relations between the two countries and the subject of the oil market and its developments. 
    In a related context, the Oil Ministry announced on Saturday, pumping 200,000 barrels of crude oil through southern ports, indicating that this was compensation for exports of the north. 
    Between the oil minister Jabbar Ali al-Allaibi in a statement received (range) a copy of it that "the Basra oil company began pumping 200 thousand barrels of crude oil per day from the fields of the center and south in addition to the rate of daily oil exports of more than 3 million and 200 thousand barrels, Exported via southern ports ".
    Al-Allaibi said that "the decision was taken to compensate for the quantities lost by Iraq as a result of the decline of oil exports from the northern fields through the port of Ceyhan, Turkey because of law enforcement operations in Kirkuk and a number of northern provinces." 
    He added that "these exports will not affect the commitment of Iraq to the decision to reduce production and the ministry is keen to speed up the development of solutions and treatments for oil fields and facilities in the province of Kirkuk, Nineveh and Salahuddin. " 
    For his part, said spokesman Assem Jihad, "The Minister of Oil has directed officials and oil companies to accelerate the process of evaluating the pipeline of oil exports Kirkuk - Ceyhan and the pipeline to transport crude oil Kirkuk - Baghdad and rehabilitation."
    In the context of increasing Iraq's oil exports from the south 200 thousand b / d to compensate for shortages of Kirkuk fields, says oil expert Dhargham Muhammad Ali: This is not contrary to the agreement between Iraq and Saudi Arabia now to reduce the supply of oil, because this increase comes to compensate for the shortage of Kirkuk fields , Because these fields were included within the quantity exported from Iraq for oil, meaning that it is within the market share of Iraq, so the suspension of export from the fields of Kirkuk gives us flexibility to increase our exports from the south, and this is a correct process to maintain a stable level of exports, especially that Iraq needs to Oil revenues, so as not to exceed any Du Iraq's share of which stopped oil from Kirkuk on.



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