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Neno's Place Established in 2006 as a Community of Reality


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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

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


    It achieves 5 times the price... Is oil trying to benefit from exporting liquefied gas abroad instea

    Rocky
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    It achieves 5 times the price... Is oil trying to benefit from exporting liquefied gas abroad instea Empty It achieves 5 times the price... Is oil trying to benefit from exporting liquefied gas abroad instea

    Post by Rocky Tue 27 Sep 2022, 5:25 am


    [size=30]It achieves 5 times the price... Is oil trying to benefit from exporting liquefied gas abroad instead of selling it to cars by raising its price?

    2022-09-27
    [/size]
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    Yes Iraq: Baghdad

    The Ministry of Oil seems to be greatly interested in the process of exporting liquefied gas, “cooking gas”, which is the same used in cars. With this growing interest, a question comes to mind regarding the ministry’s raising the price of a liter of gas sold for cars that run on gas in Iraq. The ministry plans to achieve greater benefit from exporting gas instead of selling it at a subsidized price to citizens.
     
     
    Deputy Managing Director, Director of the Higher Production Authority of Basra Gas Company, Marfa Al-Asadi, said that “the company continues to work in the production of liquefied gas used in cooking to meet the country’s need,” noting that “the current production covers 80% of the local need, in addition to exporting the surplus.” 6 years ago, through the company’s Umm Qasr port.”
    He added, "The company is seeking to update its plans to export liquefied gas abroad, as it has worked to develop its facilities and export semi-cooled gas (4 degrees Celsius), which contributed to the possibility of loading the product into ships with larger capacities that almost double the previously exported quantity. It reaches 10,000 tons, which allows our product to reach farther markets and to have more tankers used for this material, after relying on exporting gas in small vessels with capacities ranging from 3,500 to 5,500 tons, depending on the type of ship. “.
     
    Iraq produces more than 2.2 million tons annually, and according to statements that 80% of production covers the local need, this means that about 440,000 tons are exported annually, while 144,000 tons were exported in 2017, which is the beginning of Iraq's transformation into a source of liquefied gas.
    The price of a ton of gas is approximately $740 ($0.74 per liter), which is more than a thousand dinars per liter, a price equivalent to 5 times the price at which the ministry sells a liter to cars in Iraq at 200 dinars per liter, before the ministry decided to raise the price to 300 dinars per liter, and perhaps the ministry’s move aims to reduce its losses and reduce the number of cars that go to gas, thus benefiting as much as possible from gas to be exported abroad instead of selling it at a subsidized price inside Iraq.
    And by exporting more than 400,000 tons annually, this means that it brings to Iraq money estimated at 300 million dollars annually, while selling this amount of cars inside Iraq at the subsidized price will bring only 54 million dollars.
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