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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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    Iraqi pursuit of oil liquidation projects

    Rocky
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    • Post n°1

    Iraqi pursuit of oil liquidation projects Empty Iraqi pursuit of oil liquidation projects

    Post by Rocky Mon 26 Feb 2018, 2:04 am

    [size=30]Iraqi pursuit of oil liquidation projects[/size]
    25/02/2018 02:28 | Number of readings: 351
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    [rtl]Trend Press / Baghdad[/rtl]
     
    [rtl]The Ministry of Oil signed a memorandum of cooperation with the Kuwaiti company Arrafaj to implement joint investment projects in the liquidation sector.[/rtl]
     
    [rtl]Oil Minister Jabbar Ali al-Luaibi said in a statement obtained by Al-Jazeera Press on Sunday that "one of the priorities of the ministry is optimal investment of associated gas, the implementation of liquidation projects and petrochemicals and the development of infrastructure for the distribution of oil derivatives . "[/rtl]
     
    [rtl]Al-Luaibi stressed the keenness to implement investment projects to establish refineries inside Iraq to increase the production capacity of oil derivatives, and to meet the actual need for domestic consumption, as well as the ministry's ambition and directions to establish refineries abroad in cooperation with specialized international companies .[/rtl]
     
    [rtl]He pointed out that " the ministry and through the investment projects put forward in front of international companies, aspiring to reach high rates of production of petroleum products, up to two million barrels per day in 2022" .[/rtl]
     
    [rtl]The statement said that the Ministry of Oil represented by the Undersecretary of the Ministry of Liquidation Fayadh Hassan Naima signed a minutes of a meeting with Al-Arfaj to ensure the formation of a coordinating committee between the two parties to exchange information on the implementation of projects in the region and the world. The report mentioned the company's desire to invest in the associated gas project and methanol production. The company's invitation to the Ministry of Oil to contribute to the investment in the construction of an oil refinery in India with a petrochemical complex. "[/rtl]
     
    [rtl]He added: The ministry has expressed its readiness to enter into investment projects in cooperation with Kuwaiti companies, to strengthen cooperation and relations between the two countries, and open up broad areas of investment.[/rtl]
     
    [rtl]Iraq's need for oil derivatives increased after a bid to control the Baiji refinery in Salahaddin province in 2014, which provided about one-third of the country's needs with a capacity of 170,000 barrels per day. The refinery is still out of service because of serious damage .[/rtl]
     
    [rtl]Iraq has two large refineries, the Dora, with a capacity of 210,000 barrels per day and Basra with a capacity of 140,000 barrels per day, producing 200,000 bpd and 250,000 bpd respectively, as well as 11 smaller refineries in the country .[/rtl]
     
    [rtl]The Iraqi Investment Commission during the recent donor conference in Kuwait three projects to refine the oil capacity of 600 thousand barrels per day, the largest in the province of Basra with a capacity of 300 thousand barrels, and two in Dhi Qar and Anbar with a capacity of 150 thousand barrels each .[/rtl]
     
    [rtl]"Iraq continues to import oil derivatives from Iran, Kuwait and Turkey worth $ 5 billion a year, which is enough to build three refineries, but poor planning has led to these results," said MP Abdul Salam al-Maliki .[/rtl]
     
    [rtl]He stressed that "the state to find appropriate solutions to reduce the consumption of oil derivatives, as most of the countries switch to the production of electricity by alternative means other than dry gas, but we continue to set up these units despite the continuing problems of lack of fuel .[/rtl]
     
    [rtl]Iraq has 143 billion barrels of proven oil reserves, 215 billion barrels of proven reserves, 127 trillion cubic feet of proven gas reserves and 330 trillion cubic feet of potential .[/rtl]

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