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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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    A SEVERE ENERGY CRISIS IS PUSHING IRAQ TOWARDS SAUDI ARABIA

    Rocky
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    A SEVERE ENERGY CRISIS IS PUSHING IRAQ TOWARDS SAUDI ARABIA Empty A SEVERE ENERGY CRISIS IS PUSHING IRAQ TOWARDS SAUDI ARABIA

    Post by Rocky Mon 13 Dec 2021, 6:41 am

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    Economie

    [size=38]A SEVERE ENERGY CRISIS IS PUSHING IRAQ TOWARDS SAUDI ARABIA[/size]


    Monday, December 13, 2021 9:03 AM
    Baghdad/National News Center
    Iraq, which is facing a severe energy crisis, is holding talks with Saudi Arabia in order to purchase electric power, according to what the Iraqi Oil Minister, Ihsan Ismail, confirmed.
    The Iraqi minister said yesterday, Sunday, during a meeting with journalists, that "the dialogue with the Kingdom of Saudi Arabia and the Gulf linkage are within the axis of securing and stabilizing the production of electric power." So far, the issue is under discussion.
    He added: "There is a high response and coordination from the brothers in the Gulf Cooperation Council, especially the Kingdom of Saudi Arabia, and there is a desire to help Iraq."
    He stated that the negotiations focus especially on the price, explaining, "We have received a price and we believe that it can be improved." He talked about several criteria related to how to determine the price, especially “the amount of electrical energy to be imported, and the duration of these imports, if they are over a period of 365 days, or six months during the period of summer and the height of winter.”
    Iraq has huge reserves of oil and gas, and is the second largest producer in the Organization of Petroleum Exporting Countries (OPEC), but it is facing a severe energy crisis due to decades of war, corruption and deteriorating infrastructure, and suffers from rationing of the electric current, which increases discontent in the country.
    It currently produces 15,000 megawatts of electricity, much less than the 30,000 megawatts it needs to meet its peak summer needs each year, according to the minister.
    The needs are expected to grow in the future, in a country that the United Nations expects to double its population by 2050.
    Iraq, with a population of 40 million, depends on Iran for about a third of its gas and electricity supplies, as the decline in its infrastructure prevents it from achieving energy independence. Iraq owes Iran $4 billion in gas supplies.
    Iran has more than once cut off gas and electricity from Iraq to push it to pay its dues.
    Iraq has also concluded agreements to start constructing electricity production plants through solar energy. He aspires to sign several contracts that will allow him to produce 7,500 megawatts by 2023, and 12,500 megawatts in the next phase, which is equivalent to more than 25% of the country's electricity needs, according to Minister Ismail.
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