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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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Parliamentary Oil And Gas Hosts The Australian Ambassador To Iraq

rocky
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parliamentary - Parliamentary Oil And Gas Hosts The Australian Ambassador To Iraq Empty Parliamentary Oil And Gas Hosts The Australian Ambassador To Iraq

Post by rocky Mon 06 Jun 2022, 10:06 am

Parliamentary Oil And Gas Hosts The Australian Ambassador To Iraq
06/06/2022
72


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Earth News/ The Oil, Gas and Natural Resources Committee, headed by MP Yahya Al-Ithawi, head of the age, and the presence of a number of committee members, hosted today, Monday, the Australian Ambassador in Baghdad, Paula Elizabeth Kanley, to discuss the development of the oil sector and bilateral relations between the two countries.
And according to a statement by the Parliament’s Media Department, which was received by Earth News, a copy of it, “During the meeting, which was held at the committee’s headquarters, Representative Al-Ithawi welcomed Kanley, Australia’s ambassador to Iraq,” stressing that “the Iraqi economy depends primarily on oil revenues, which constitute 90% of it.” To the committee’s interest in advancing the oil sector, especially in refining operations, to reach the production capacity required of it in accordance with the decisions of the Organization of Petroleum Exporting Countries.
He expressed his “deep regret that foreign oil companies did not fulfill their pledges that oil production in Iraq in 2022 would reach (8) million barrels per day, and Iraq still did not exceed the barrier of 3 and a half million barrels per day, which caused its uselessness from the escalation of oil prices globally.”
Representative Yahya Al-Ithawi added that "the Ukrainian crisis and its impact on the export of oil and gas increased their demand in the market, which made the beneficiary countries go to find alternative producing countries, noting Iraq's ability to enter the global market and provide the need for oil and gas with the help of friendly countries led by Australia," stressing "the existence of The committee has reservations about licensing rounds and contracts concluded between foreign oil companies and the Iraqi government, and the committee will have a decision on that.”
He asked about "the possibilities of Australian companies to be assisted through the committee to enter the Iraqi market, explaining the possibility of benefiting from Australian expertise in many fields, including agriculture and water."
For their part, the members of the committee expressed their “desire to cooperate with the Australian embassy to open prospects for joint cooperation between the two countries in general and between the embassy and the committee in particular in order to advance the oil sector and benefit from Australian expertise,” stressing that “Iraq possesses the second largest oil reserves in the region and the fourth largest reserves.” In the world, making it a leader in the oil market and a magnet for oil companies, noting the presence of unexplored oil wells that could be a role for Australian companies to invest by entering them in the upcoming licensing rounds.
They also stressed, that “contracts between companies shall be through the federal government exclusively and that they abide by the decisions of the Federal Supreme Court, hoping that there will be cooperation between the two countries in the matter of developing the oil sector.”
In turn, the Australian ambassador in Baghdad expressed her "happiness to visit the Oil, Gas and Natural Resources Committee and the presence of new members seeking to find plans for the advancement of the Iraqi oil sector," noting the high oil prices that served the Iraqi economy, noting "the possibility of Iraq benefiting from the financial abundance through its investment in the structures Infrastructure, pointing out that Australian companies are interested in alternative energy, especially hydrogen.
She stressed, "its quest to convey the outcomes of the meeting to the Australian companies and inform them of the possibility of their entry into oil investment in Iraq, with the support of the Oil and Gas Committee for them in this matter, explaining that her country's government seeks to strengthen bilateral relations between the two countries, especially in the economic field."
The committee stressed that “Iraq seeks to benefit from the financial abundance as a result of the escalation of oil prices through the construction of infrastructure and the development of the electrical sector, as well as the development of the oil sector and benefit from the development of the gas sector in order for Iraq to reach self-sufficiency and the possibility of exporting it,” noting that “the committee puts legislation among its priorities.” Laws that serve investment in the oil sector and protect foreign companies.”
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