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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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    Iraq is heading to offer a sixth licensing round for oil exploration in the west of the country

    Rocky
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    Iraq is heading to offer a sixth licensing round for oil exploration in the west of the country Empty Iraq is heading to offer a sixth licensing round for oil exploration in the west of the country

    Post by Rocky Tue 21 Mar 2023, 5:57 am

    [size=47]Iraq is heading to offer a sixth licensing round for oil exploration in the west of the country[/size]


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    Baghdad

    Mohamed Ali

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    March 21, 2023


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    Iraq confirmed the possibility of increasing oil exports if approved by OPEC (Agence France Presse)
    The Iraqi Oil Minister, Hayan Abdul Ghani, revealed his country's intention to offer a sixth [You must be registered and logged in to see this link.] for a number of [You must be registered and logged in to see this link.] in the western regions of the country, adjacent to the Jordanian, Syrian and Saudi borders.
    The minister affirmed work to expand the circle of investment in gas associated with oil, in agreement with the oil companies operating in the country, in order to stop importing gas from Iran that is used to operate power plants, during the next five years.

    And the official Iraqi News Agency (INA) quoted Abdul-Ghani, on Monday evening, as saying, “There are agreements with OPEC, considering Iraq the second oil producer in the organization, and we are committed to them,” noting that “the ministry is committed to the organization’s decisions regarding oil export and the reduction by about 220 thousand.” barrels per day until the end of 2023, according to the agreement.
    He added, "It is possible to increase the export rate if the organization approves its increase," noting that the ministry "forced some companies operating in the south to reduce production in order to comply with OPEC decisions."
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    [size=12]Arab economy

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    On the Iraqi gas file, Abdul-Ghani stated that "Iraq burns large quantities of gas and most of what is invested is 56 percent of the product," noting that "most of the gas currently produced is associated with crude oil, so with the increase in oil and gas production, production can be increased." However, we must have a facility capable of investing in gas to benefit from it, especially in equipping power stations.”
    He stated that "Iraq imports large quantities of gas from Iran, as it is the closest to Iraq," revealing "an ambitious plan to invest gas, especially in the southern fields, which are now burning."
    He stressed that "the ministry's plan includes announcing another round of licensing contracts for the western side, which extends from the Syrian, Jordanian and Saudi borders to Al-Muthanna Governorate."
    He pointed out that there are "more than 10 exploratory patches prepared by him, most of which are gaseous, and the ministry is in the process of preparing and preparing an information bag for these fields, which does not exceed the seventh month of this year to announce them."
    He noted "a promising plan to operate the Karbala refinery with a capacity of 140,000 barrels per day, which will provide more than 50% of imported gasoline in addition to gas and kerosene."
    The Iraqi Oil Minister's remarks coincided with the visit of OPEC Secretary-General Haitham Al-Ghais to Baghdad, which began on Sunday evening.
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