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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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    US article on Iraq: An Arab oil giant unable to light up its cities

    Rocky
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    US article on Iraq: An Arab oil giant unable to light up its cities Empty US article on Iraq: An Arab oil giant unable to light up its cities

    Post by Rocky Tue 23 Oct 2018, 3:24 am

    US article on Iraq: An Arab oil giant unable to light up its cities


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    highlighted the agency " Bloomberg " The US, through an article published, the light on the electricity crisis in Iraq , said that "this country has become the fourth largest producer of crude, beating Canada, it does not have much to proclaim it ." 

    Although Iraq is rapidly becoming a global oil power, it faces domestic challenges, including the electricity crisis, Bloomberg said. 

    It added that Iraq, whose infrastructure was destroyed during the war against the terrorist organization "Da'ash", is increasing its oil exports to Asia and European countries with the imminent application of US sanctions on Iranian oil and coinciding with the preoccupation with oil markets in Saudi Arabia, OPEC's largest producer .



    Iraqi oil minister Jabbar al- Luaibi said last Saturday that Iraq's oil production currently stands at 4.78 million barrels per day, with expectations for a rise of 5 million barrels in 2019 and 7.5 million barrels in 2024. 

    Wood Mackenzie expects that By 2025, Iraq will pump about 6 million barrels per day, noting that the pace of growth of Iraqi oil production will exceed the rest of the producing countries. 

    Despite Iraq's oil wealth, it lacks a steady supply of electricity and finds it difficult to attract foreign investment to create new jobs and incentives for local firms. 

    "The increase in oil production is good news, but Iraq is still failing to provide basic services to its citizens such as clean water, including electricity to the people of Basraprovince," said Ziad Daoud, chief economist at Bloomberg Middle East., Where most of the oil is extracted. " 

    It is noteworthy that the Iraqi Ministry of Electricity has announced on Sunday signed two agreements with the company" General Electric "and the US" Siemens "German to develop the energy sector in the country, and provide about 24 thousand GW of electricity.



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