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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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    The disappearance of improved gasoline is “not a coincidence” and the state loses 4 billion dinars p

    Rocky
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    The disappearance of improved gasoline is “not a coincidence” and the state loses 4 billion dinars p Empty The disappearance of improved gasoline is “not a coincidence” and the state loses 4 billion dinars p

    Post by Rocky Thu 24 Jun 2021, 7:32 am


    [size=30]The disappearance of improved gasoline is “not a coincidence” and the state loses 4 billion dinars per day.. A review of the data may explain the previous re-pricing

    2021-06-24
    [/size]
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    Yes Iraq: Baghdad

    It seems that the cut off of improved gasoline from stations in the capital, Baghdad, and Iraq in general, was not a coincidence, but was preceded by certain indicators, which may be summed up in the state losing about 4 billion dinars per day.
    Although only a few days passed since the opening of the Al-Azmara unit to produce improved gasoline in the Dora refinery and raising its production capacity in mid-June, until the improved gasoline was suddenly cut off from the stations, this interruption was preceded by statements of the Oil Products Distribution Company, which revealed the state’s loss of about 250 dinars per liter of improved gasoline.
    After about 6 months of reducing the prices of improved gasoline from 850 dinars to 650 dinars by the Ministry of Oil, it seems that the prices of improved gasoline are on the way to rise again to touch the price of a liter of 900 dinars, as it was in the past.
    A few days ago, the Director General of the Oil Products Distribution Company, Hussein Taleb, said in a press statement, that “high-octane gasoline is linked to the prices of the international bulletin and the reduction that took place five months ago due to the drop in global oil prices and its derivatives,” noting that “the current price of high-octane gasoline is a loss for the state.” 250 dinars per liter of gasoline.
    Taleb stressed the need for “there to be a culture among the citizen that reducing or increasing prices comes within a trend to liberalize the market globally, and since the product is imported, it is linked to the global bulletin,” explaining that “the reduction that took place came based on the drop in global prices, but now high-octane gasoline is A loss, and selling to the citizen for 650 dinars is a loss on the state budget.”
    He pointed out that "the quantities that are imported daily of high-octane gasoline amount to 15 million liters," stressing that "the price of regular and improved gasoline cannot be reduced at the present time for three reasons: an increase in the dollar price, an increase in production costs and an increase in crude oil prices."
     
    How much does the country lose?
    On the basis of these calculations, the state loses 250 dinars per liter of gasoline when it sells the liter for 650 dinars, which means that the state imports a liter of gasoline for 750 dinars after the rise in oil prices, and since it imports 15 million liters daily, this means that the state spends daily more than 11 billion dinars to purchase improved gasoline.
    In other words, the state buys 15 million liters for 11 billion and 250 million dinars per day, and sells it for 7 billion and 500 million dinars, which means that it loses 3 billion and 750 million dinars per day.
     
    Justification that contradicts the data
    Despite the Ministry of Oil’s justification for the interruption of improved gasoline, it came as a result of the Petroleum Products Distribution Company conducting periodic matches and checks in some supply outlets during the past two days, which led to the suspension of processing for some stations for some time. the one.
    A member of the Parliamentary Energy Committee, Ghaleb Muhammad, said, "The improved gasoline is commercial and not from the production of Iraqi refineries, but is imported from outside Iraq, and the rise in crude oil prices in the global market affected other oil derivatives and caused the price of improved gasoline to rise."
    He added, "The price of an improved liter may reach more than 900 Iraqi dinars," noting that "Iraq supports regular gasoline at filling stations."
    And he indicated that "the price of a barrel of crude oil sold to refineries is seven thousand dinars, and after the process of refining it to produce oil derivatives, a liter of gasoline is sold at the specified government price, which is 450 dinars, and 150 dinars per liter of white oil."
     
     
    How much will the state earn?
    According to previous calculations, if the state sells a liter of improved gasoline at 900 dinars per liter, it will profit daily, 2 billion and 250 million Iraqi dinars, but the state may raise the prices of improved gasoline to more than 900 dinars per liter, to compensate for the losses recorded during the previous days. 3 billion and 750 million dinars per day.
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