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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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    Al-Sudani: We have made economic reform a top priority and we are seeking to diversify energy source

    Rocky
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    • Post n°1

    Al-Sudani: We have made economic reform a top priority and we are seeking to diversify energy source Empty Al-Sudani: We have made economic reform a top priority and we are seeking to diversify energy source

    Post by Rocky Wed 11 Oct 2023, 2:58 pm

    Al-Sudani: We have made economic reform a top priority and we are seeking to diversify energy sources

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    Economy News - Baghdad
    Today, Wednesday, Prime Minister Muhammad Shiaa Al-Sudani announced the launch of carbon reduction projects in the East Baghdad field. While he indicated that Iraq is seeking to diversify energy sources, he stressed that the development road project carries a package of positive economic goals.
    Al-Sudani said in his speech at the Russian Energy Week Forum in its sixth session, “We are participating today in the Russian Energy Week Forum, in its sixth session, on behalf of Iraq, out of our belief that cooperation in the field of energy, and joining hands with each other in facing the challenges of electricity and the oil, petrochemical and gas industries, These are steps that will provide prosperity and progress, and will work to support us all in a world in which technology is accelerating and the demand for energy is rising every day,” noting that “Iraq, whose name has been firmly established on the map of oil production and export, is seeking to diversify energy sources and not depend its economy on oil.” Just".
    He added, "Our government has set its sights on the global energy transition, represented by carbon reduction projects and energy efficiency projects," noting that "with commitments to reduce carbon emissions until the year 2045, as well as to help preserve the status of oil and gas as energy sources, which are considered... The mainstay of our economies, and sustaining them in a responsible and environmentally friendly manner is in our interest as countries. For this goal, we have begun launching carbon reduction projects financed by carbon bonds for gas projects in the East Baghdad field.”
    He stressed that "the oil-producing countries can play an important role in this field, by working to improve energy efficiency, because climate restrictions are to combat the climate effects of fossil fuels, not the fuel itself, in order for oil to remain competitive in terms of its carbon footprint, when it becomes A feature of oil pricing,” pointing out that “Iraq has made strides in the fields of renewable energy, by adding solar generating capacities estimated at three thousand megawatts.”
    He stated, "The government has set a clear goal of covering one-third of the local need for electricity by investing in renewable sources by 2030," pointing out "continuing to upgrade fossil fuel extraction techniques, and taking into account environmental aspects in this field."
    He stated, “Most important of all is what we have planned for the optimal investment of gas, as our government is continuing with those efforts in order for Iraq to take the position that suits its capabilities in this economic market, in light of the global growth in demand for gas, which exceeds the supply.” Much," pointing out that "our government's vision adopts an approach in the energy sector, the basis of which is seeking to compensate for what our country lost, as successive regimes in Iraq, since the discovery of oil, did not invest in gas and resorted to burning it, which wasted this wealth and caused environmental pollution."
    He stated that "the severity of the problem doubled with the loss of opportunities, the growing need for electric energy, and Iraq being forced to import gas, and the Iraqi people suffered the harm they suffered as a result of delaying and waiting," noting that "Iraq's presentation of the importance of gas investment, through the fifth and sixth licensing rounds, It will create the opportunity to work and cooperate with global partners, which does not pose a threat to any producer or marketer, but rather aims for greater integration.”
    He pointed to "Iraq's ability and entitlement, due to the resources and capabilities it possesses, to establish a solid foundation for partnership," explaining that "the opportunity has become ripe to achieve success together in creating factors that encourage peace. In the end, the matter depends on the type of approach that we will take, and we have chosen an approach that confronts the challenges and brings together... far apart, in addition to the necessity of diversifying energy sources and transportation methods, in order to reduce risks, as part of a broader framework for economic cooperation, consolidating security, and reducing reliance on security approaches based on conflict, competition, and armament.”
    He stated that “solid infrastructure projects, with a wide impact on trade and regional transport, will attract international donors and development institutions, and this is what we are working on with all our capabilities,” adding that “our region, which is rich in natural resources, and which has been coupled at the same time with security turmoil and political competition, “It needs economic integration and a regional system that establishes cooperation and prosperity.”
    He continued, “It is an unprecedented development road project in Iraq and the region, and it is being implemented, and we have proceeded with the projects attached to it, and it carries a package of positive economic goals in the medium and long term,” stressing “the necessity of creating a possible and promising practical interconnection between the countries of the region and the world, from Through the development path project, and through a philosophy that believes in the communication of investors and capital, from the largest possible number of countries and peoples, so that our region becomes a platform where interests, development desires, and job opportunities meet, after it was a scene of political and security tensions, and thus Iraq has taken a giant step. “On the path to enhancing cooperation with and among others.”
    He stated, “In order to achieve balance in the energy market, we are in dire need of joint coordination and preventing negative competition, as some people have doubts about the coordination mechanism adopted in OPEC, but we draw attention to the necessity of balancing supply and demand, and preventing economic collapses and their political consequences.” Social, and impacts on the stability of the regions, as well as peace, security, and the state of stability internationally,” pointing out that “this mechanism contributes to the ability to maintain the stability of supplies and prices, as these coordination mechanisms do not only target oil prices, but rather go to support market stability globally.” “By ensuring the interests of the producer, consumer and investor alike.”
    He pointed out, "Our government has placed among its priorities economic reform, which is centered around diversifying the economy instead of relying on oil. This is done through integrated projects for energy, industry, petrochemicals, fertilizers, and community services. We have developed a plan that includes eleven fields to be the first step towards these projects." He called on “specialized international companies to invest in these promising opportunities in light of a government commitment to creating and improving the work environment for the private sector, both local and foreign.”
    He stressed "the need to coordinate efforts, allocate budgets, and make large joint investments in modern technologies and the infrastructure necessary to develop extraction and refining techniques."
     


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