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2021-10-11 08:12
Oil Minister: The cost of producing electricity from crude oil is $5 billion annually
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2021-10-11 08:12
Shafaq News / Deputy Chairman of the Ministerial Council for Energy and Oil Minister Ihsan Abdul-Jabbar revealed on Thursday the cost of using crude oil to generate electric power in Iraq annually.
Abdul-Jabbar said, in an interview with a number of journalists, including Shafak News Agency correspondent, that "the government's plan is to reach 7500 megawatts, through clean energy, by signing contracts and commitments before 2023."
He added that "the current verified of these contracts is 40% of them, which is equivalent to 2500 megawatts," noting that "Iraq consumes huge quantities of crude oil, at a rate of 190,000 barrels at peak time, and therefore its cost on the public budget is up to 5 billions of dollars a year."
The Minister of Oil pointed out that "the production of one megawatt of liquid fuel amounts to 120 dollars, while the cost of producing energy from clean energy is 40 dollars."
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Abdul-Jabbar said, in an interview with a number of journalists, including Shafak News Agency correspondent, that "the government's plan is to reach 7500 megawatts, through clean energy, by signing contracts and commitments before 2023."
He added that "the current verified of these contracts is 40% of them, which is equivalent to 2500 megawatts," noting that "Iraq consumes huge quantities of crude oil, at a rate of 190,000 barrels at peak time, and therefore its cost on the public budget is up to 5 billions of dollars a year."
The Minister of Oil pointed out that "the production of one megawatt of liquid fuel amounts to 120 dollars, while the cost of producing energy from clean energy is 40 dollars."
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