Home
[size=36]“OPEC”: We are not the reason for the exacerbation of inflation rates around the world[/size]
political| 02:25 - 17/08/2022
[You must be registered and logged in to see this image.]
[You must be registered and logged in to see this link.]
[You must be registered and logged in to see this link.]
Baghdad - Mawazine News
, the new Secretary-General of "OPEC", Haitham Al-Ghais, said today, Wednesday, that the group of producers is not responsible for the rise in inflation, pointing instead to the chronic shortage of oil and gas investments.
In an interview with CNBC, Al-Ghais said, "OPEC is not behind this increase in prices. There are other factors outside of OPEC that are already behind the rise we have seen in gas (and) in oil."
"Again, I think in a nutshell, to me, it's underinvestment, chronic underinvestment. This is the harsh reality that people have to wake up to and policy makers have to heed."
And he added: "Once that is achieved, I think we can start thinking of a solution here. The solution is very clear, and OPEC has a solution; investment, investment and investment."
Earlier this year, the Kuwaiti was appointed for a three-year term as the Secretary-General of the Organization of "OPEC", succeeding the veteran Nigerian Mohamed Barkindo, who died last month at the age of 63, just days before he was due to step down from the organization.
The International Energy Agency said in June that global investment in energy is on track to increase by 8% this year to $2.4 trillion, with most of the projected increase coming mainly from clean energy.
She described the results as "encouraging" but cautioned that investment levels were still far from sufficient to address the multiple dimensions of the energy crisis.
, the new Secretary-General of "OPEC", Haitham Al-Ghais, said today, Wednesday, that the group of producers is not responsible for the rise in inflation, pointing instead to the chronic shortage of oil and gas investments.
In an interview with CNBC, Al-Ghais said, "OPEC is not behind this increase in prices. There are other factors outside of OPEC that are already behind the rise we have seen in gas (and) in oil."
"Again, I think in a nutshell, to me, it's underinvestment, chronic underinvestment. This is the harsh reality that people have to wake up to and policy makers have to heed."
And he added: "Once that is achieved, I think we can start thinking of a solution here. The solution is very clear, and OPEC has a solution; investment, investment and investment."
Earlier this year, the Kuwaiti was appointed for a three-year term as the Secretary-General of the Organization of "OPEC", succeeding the veteran Nigerian Mohamed Barkindo, who died last month at the age of 63, just days before he was due to step down from the organization.
The International Energy Agency said in June that global investment in energy is on track to increase by 8% this year to $2.4 trillion, with most of the projected increase coming mainly from clean energy.
She described the results as "encouraging" but cautioned that investment levels were still far from sufficient to address the multiple dimensions of the energy crisis.
[You must be registered and logged in to see this link.]
» Al-Sudani arrives in Riyadh to participate in the World Economic Forum
» An Arab call to the countries neighboring Iraq regarding the share of water
» IMF: Poor productivity is responsible for 50% of the decline in economic growth
» The President of the Republic stresses to Barzani the importance of focusing on construction, recons
» Will Iran lose the Iraqi market? 20 million dollars is threatened with loss
» Parliamentary Economy: Parliament will extend the legislative term to approve the budget
» The price of the dollar is close to 145 thousand dinars؛ how much is $100 worth of transactions؟
» A factory for producing electric cars
» Prime Minister: We have launched strategies to improve the conditions of workers
» Economic prospects from America to Türkiye
» Al-Rayes: The path of development is the first gateway to sustainable economic advancement
» Days after announcing the connection with Jordan, an almost complete absence of electricity in Ramad
» A Kurdistan delegation meets with the Ministry of Finance in Baghdad to discuss “revenues and implem
» Parliamentary Economy reviews files and the importance of Sudanese’s upcoming visit to Saudi Arabia
» Al-Maliki talks about postponing the Kurdistan Parliament elections and says that salary transfers w
» The President of the Republic and Barzani discuss the results of Sudanese’s visit to the United Stat
» The Ministry of Finance is "dizzy"... An expert points out a "lapse" in the budget schedules: Februa
» Sudanese Advisor: The 2024 budget has entered into force... and there is no need to send its schedul
» The Iraqi dinar is recovering against the US dollar in local markets
» Iraq.. The claim that OPEC’s decisions affect oil derivatives only and not crude is “inaccurate”
» Al-Bawi: Erdogan failed in his promises to his people and seeks to plunge Iraq into its conflict wit
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
» Amnesty International criticizes Iraq's implementation of 13 death sentences
» The ambassador is very angry with Parliament: The homosexuality law obstructs the government and har
» Al-Mandalawi: There is no place for homosexuality in the Iraq of the prophets and saints, and that i
» Al-Sudani receives the President of the University: Towards the strength and status of the Arab syst
» Ayed Al-Hilali: All leaders are discussing “the finer details of Sudanese” tonight, and Barzani join
» He announced the reception of offers from three alliances from international companies for the Baghd
» During his meeting with the head of the Iraqi Journalists Syndicate... Al-Amiri stresses the importa
» To address the dollar exchange rate... Mazhar Muhammad explains the risks of floating the Iraqi dina
» During the launch of the Arab Labor Conference in its 50th session in Baghdad... Al-Sudani: We launc
» Saudi Arabia announces an increase in direct flights with Iraq
» Resources: Government measures have contributed to improving the water situation in Iraq
» Al-Sadr: The voice of American universities calling for an end to Zionist terrorism is our voice
» International organization: 50% of displaced Iraqis lack official documents
» Al-Sudani: The path of development will provide many job opportunities
» Parliament Finance: The necessity of converting tax and customs revenues to digital processing
» Al-Sudani announces that clues have been found to uncover those involved in the Kormor bombing
» The start of the work of the Fourth Baghdad International Water Conference
» The Council of Ministers will suspend official working hours next Wednesday
» An almost complete outage of water and electricity in western Anbar
» Parliamentary expectations of extending the legislative term to approve the budget
» Education: The cost of participating in the electronic school will amount to 200 thousand dinars
» Al-Sudani arrives in Riyadh to participate in the World Economic Forum
» A newspaper reveals a dark world that brings together bloggers and politicians
» Al-Marsoumi: The bombing of the Kormor field undermined efforts to achieve self-sufficiency in gas
» utube MM&C 4/24/24 Support - USA- Turkey - Timing- Currency Value - Tabled
» utube MM&C 4/26/24 Iraqi Dinar - US Treasury Exchange Rates- Focus - Banking Partnerships - Rate C
» Parliamentary efforts to transform Iraq into a global market for transferring Internet capacities
» A parliamentary committee that enriches the political forces: Stop plundering Iraq’s wealth and work
» Politician: Salem Al-Issawi is the most likely to assume the presidency of Parliament
» Al-Sudani: The world today is witnessing crises whose impact has been reflected in the global econo
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
» Among them are the Iraqis... a list of the most sought-after immigrants to America
» An expert talks about the "biggest barrier" and the positives of merging Iraqi and Arab banks
» The House of Representatives adjourns its session
» Parliamentary demands to expedite the legislation of the Eid al-Ghadir holiday law (documents)
» Parliament adds the paragraph “Electing the Speaker of the House of Representatives” to its agenda
» Alsumaria publishes the text of the law against prostitution and homosexuality
» A parliamentarian reveals the reason for the failure of the Speaker of Parliament to pass during tod
» Al-Sudani: The government has launched many strategies and initiatives that will improve the reality
» International Business: Iraq has made progress in supporting businesses through investment and priva
» Association of Banks: Iraq is witnessing great development in the transition to electronic governmen
» The House of Representatives votes to add an item to its agenda (election of the Speaker of the Hous
» Parliamentary integrity: Combating corruption requires parliamentary legislation
» Al-Karaawi: America is trying to restrict Iraq
» The State of Law coalition moves to form the local government in Diyala
» The Sudanese and his battle against corruption.. Where is the fault with the government or with the
» Prime Minister's Advisor: We will see the dollar fall on the black market soon
» The Sunni blocs are resolute. The presidency of the Council is ours, away from Al-Halbousi
» Al-Sudani discusses with a workers’ organization his government’s steps in this field
» Parliament holds its session in the presence of 170 deputies
» In the presence of Nechirvan Barzani and Al-Sudani... the State Administration Coalition holds an “i
» The UAE company ADNOC resorts to Iraqi oil. Find out the reasons
» The Iraqi Parliament votes to add an item to elect a president to its agenda
» The Federal Court responds to an inquiry by Al-Sudani regarding the powers of the provincial council
» Al-Sudani: It is necessary to attract women to work as a productive energy that cannot be disrupted
» Zebari regarding targeting the Kormor field: a systematic attack on the economy of Kurdistan
» Saudi Arabia tops, and this is Iraq's rank... a list of major suppliers of crude oil to South Korea
» With a value of 125 million dollars.. Iraq is at the forefront of countries importing Iranian textil
» More than a billion dollars in sales from the Iraqi Central Bank within a week
» Al-Sudani stresses the need for the expertise of the International Labor Organization to legislate a
» Including the return of 21 wanted persons.. The Iraq Money Recovery Fund counts its achievements in
» The path to development is the criterion between true patriotism and political clowning.
» The file of the Presidency of Parliament is on the state administration table... this evening
» Director General of the International Labor Organization: Many challenges in the world of work and t
» Al-Sudani: The world is witnessing crises that reflect negatively on the Arab and international peop
» Prime Minister: Our government has provided great support for the success of the activities, program
» Al-Asadi: Iraq places the social protection file among its priorities
» Al-Sudani: Iraq is one of the first countries in the region to join the International Labor Organiza
» In the presence of Al-Sudani and Barzani, the State Administration Coalition holds an “important” me
» Appreciating the presence of Al-Sudani... Director General of the Arab Labor Organization: Here from
» Prime Minister: Our government has provided great support for the success of the activities, program
» Al-Sudani: The world is witnessing crises that reflect negatively on the Arab and international peop
» The Parliamentary Development Institute organizes a workshop on the political role of the representa
» With Arab and international participation. Tomorrow will be the start of the Fourth Baghdad Internat
» OPEC Secretary General: The end of oil is not on the horizon
» Closing a number of unlicensed offices and companies south of Baghdad