Home
Oil: Iraq invests only 60% of the gas produced
[You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
The Minister of Oil, Hayyan Abdul-Ghani, said that Iraq invests only 60% of the gas produced, while burning about 40% of this gas currently.
Abdul-Ghani said that all the gas that is burned has been contracted to be invested with companies led by the French Total, which is investing to produce 600 million cubic feet of gas, equivalent to three-quarters of the gas that is currently being burned, while the Basra Gas Company is committed to investing gas in 3 major oil fields. They are Rumaila, Zubair, and West Qurna.
He explained that Iraq, with exceptional efforts, contracted for the gas to be burned, and within 3 to 5 years it will be invested and utilized in electrical energy and other projects.
He pointed out the launch of new licensing rounds by inviting specialized companies to explore gas patches, most of which are in the western region of Iraq and contain large quantities of gas. Next April, contracts will be awarded through which the gas will be extracted, processed, used at home and exported in large quantities abroad.
Regarding oil production in the Kurdistan region, he said that there are negotiations with companies currently operating in the region because they have entered into contracts with the Kurdistan region on the basis of partnership, while the Iraqi constitution prohibits partnership in the fields and we are in the process of changing these contracts to share in profits and not in assets and production.
Views 59
Added 02/20/2024 - 11:04 AM
[You must be registered and logged in to see this link.]
[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.] [You must be registered and logged in to see this link.] [You must be registered and logged in to see this link.]
Economy News - Baghdad
The Minister of Oil, Hayyan Abdul-Ghani, said that Iraq invests only 60% of the gas produced, while burning about 40% of this gas currently.
Abdul-Ghani said that all the gas that is burned has been contracted to be invested with companies led by the French Total, which is investing to produce 600 million cubic feet of gas, equivalent to three-quarters of the gas that is currently being burned, while the Basra Gas Company is committed to investing gas in 3 major oil fields. They are Rumaila, Zubair, and West Qurna.
He explained that Iraq, with exceptional efforts, contracted for the gas to be burned, and within 3 to 5 years it will be invested and utilized in electrical energy and other projects.
He pointed out the launch of new licensing rounds by inviting specialized companies to explore gas patches, most of which are in the western region of Iraq and contain large quantities of gas. Next April, contracts will be awarded through which the gas will be extracted, processed, used at home and exported in large quantities abroad.
Regarding oil production in the Kurdistan region, he said that there are negotiations with companies currently operating in the region because they have entered into contracts with the Kurdistan region on the basis of partnership, while the Iraqi constitution prohibits partnership in the fields and we are in the process of changing these contracts to share in profits and not in assets and production.
Views 59
Added 02/20/2024 - 11:04 AM
[You must be registered and logged in to see this link.]
» MM&C 7/4/24 Tabaqchali: An Unfolding Structural Economic Transformation in Iraq
» utube 7/4/24 MM&C IQD Updates - Iraqi Dinar - Relations w / Baghdad & Kurdistan - Good - Financial
» utube 7/2/24 MM&C IQD Update Part 2 - Iraqi Dinar - Automation for Revenues - Singapore Agreement
» utube 7/2/24 MM&C part 1 Iraqi DinarPart 1 - IQD Update - Progession of Intergr
» MM&C 7/2/24 The dollar in the parallel market.. Al-Sudani’s advisor presents a different vision and
» Al-Sudani: Iraq's growth rate is the highest in the region and we have made significant progress in
» What terrified Barzani and prompted him to visit Baghdad?
» Barzani to ambassadors of 8 countries: Taking into consideration the interest of Iraq and the region
» Trade participates in the preparatory meeting of the Iraqi-Jordanian Committee
» The most prominent of which is the decision of the Central Bank.. Three reasons behind the rise of t
» Baghdad buildings.. apartments rising quickly and prices soaring even higher
» Al-Sudani stresses the importance of the public sector's role in implementing government priorities
» Today.. Central Bank sales record more than 280 million dollars
» Parliamentary movement to cancel decisions of the dissolved Revolutionary Command Council
» Sudanese advisor reveals the reason for the rise in the dollar price
» The Slums Law is in the Government’s Halls and Parliament is Waiting for Its Arrival.. MP Speaks to
» Oil confirms achieving advanced rates in gas investment
» Economist: Increased demand for electricity prompts us to look for “urgent solutions” to generate po
» When will you leave the country? ... Iraq demands and America procrastinates
» Demand for Al-Sudani to reveal the results of the investigations into the assassination of Al-Nasr l
» Parliamentary Committee: The Ministry of Education’s budget is small and does not live up to the lev
» Iraq announces drilling and reclaiming 105 oil wells during the first half of the year
» For the fourth day.. Dollar prices continue to rise in Baghdad and Erbil
» In the presence of Massoud Barzani .. Sunni forces hold a "decisive" meeting to resolve the crisis o
» "Short-term".. Al-Sudani's advisor explains the reasons for the continued rise in the exchange rate
» During 2024.. Petroleum Products Counts Gas Fuel Consumption Quantities for Cars
» Iran, Turkmenistan officially sign gas swap agreement to supply to Iraq
» Parliamentary Committee Identifies a “Fundamental Problem” Facing the Oil and Gas Law.. How Can It B
» "We have not chosen the company to implement the project yet." Baghdad Municipality reveals the late
» Iraq is the third country in which Türkiye has implemented the most projects in half a century
» Iraq decides to introduce artificial intelligence in this field
» Plan to convert oil refineries to environmentally friendly
» Baghdad Airport Expansion to 9 Million Passengers Annually
» Basra pursues land contract fraud
» Government policy to control the state's public finances
» Advisor: Iraq aspires to lead the Fourth Industrial Revolution
» Baghdad Council threatens to confiscate illegal generators
» Iraqi Creatives Museums and Cultural Centers
» Oil: Gas investment reached 62%
» Barzani in Baghdad
» World Bank: Iraq is among the middle-income countries
» Experts praise agricultural policies and call for supporting farmers
» The Ministry of Interior issues ID cards to owners of "positive content"
» Minister of Labor: Anbar's share of police contracts is 2,377 beneficiaries
» The Minister of Labor holds social researchers morally responsible and assigns them two basic tasks
» Kurdistan Finance announces the start of distributing salaries for these categories next Sunday
» Judge Zidane visits the Supreme and Constitutional Courts of Azerbaijan
» Coordination Framework: The coming days will witness the "birth" of the Diyala local government
» An economist explains the reasons for the dollar’s rise and sets a condition for its decline - Urg
» Investment Authority announces the processing of 249 stalled projects
» Final statement of the meeting of the General Secretariat of the Union, June 29-30, 2024.. Baghdad S
» Chief Justice describes President Barzani’s visit to Baghdad as “important and historic”
» Masrour Barzani welcomes the Federal Court’s decision: It will strengthen confidence in the relation
» Kurdistan Council of Ministers discusses equalizing the salaries of retirees in the region with thei
» President Barzani after meeting with Al-Sudani: We had a constructive dialogue and will continue coo
» Al-Sudani's financial advisor reveals the reason for the continued rise of the dollar and confirms:
» Barzani reveals the goals of his visit to Baghdad: There is an intention to resolve the differences
» The Turkish army penetrates into Iraqi territory with Baghdad's approval!
» The Regional Council of Ministers discusses unifying the salaries of its retirees with the center
» Two countries sign a contract on gas supplied to Iraq
» Communications: Cable contracts will improve internet service in Iraq
» Interior Ministry reveals two “strategies” regarding social media
» Will social security guarantee the rights of workers and earners? An economist answers
» Al-Sudani receives a group of sheikhs and dignitaries of the Zubaa tribe in Baghdad
» Discussing the file of the international coalition and the presidency of parliament.. Details of the
» Experts: Coordination between the center and the region is necessary to find a solution to the Turki
» Problems still exist.. Government expects camps to close a month after the scheduled date
» The dollar soars in Baghdad markets, exceeding the 149 barrier
» Iraqi graduation research included in international databases
» Compliance or arrest.. Baghdad Council issues final warning to private generator owners
» With water scarcity, desertification is growing in Iraq!
» With the increasing demand for it.. Petroleum Products opens 3 new outlets for LPG
» Generator owners in Baghdad violate government decisions and raise prices!
» Barzani and Mandalawi discuss the issue of electing the Speaker of Parliament
» Despite the rise in the dollar, Saleh: The parallel market today is not important
» Securities Commission: The government has successfully completed the sale of financial bonds
» Ankara: We are working with Iraq to develop a plan to deal with the water file and eliminate all cha
» Minister of Communications: Cable contracts will improve internet service in Iraq
» Iraq reinforces its borders with Syria with 13 additional military regiments
» Kurdistan responds to a letter from the Federal Court about localizing its employees’ salaries
» Parliamentary Finance: The remaining months are not enough to disburse budget funds
» Investment Authority announces the processing of 249 stalled projects
» Today.. The Central Bank sells only about 15 million dollars domestically
» Rafidain Bank announces completion of 3288 loan transactions for projects and real estate during the
» Israel fabricates justifications for attacks on Iraq
» Tribal Conflicts: When Laws Are Silent and Guns Speak
» Obelisk Hour: Will the Kurdistan Region Turn into “Southern Türkiye” Instead of “Northern Iraq”?
» Al-Sudani to Barzani: We have made significant progress in building trust between the central and re
» National Security at Stake: $670 Million Defense Contract with Corrupt Thales
» Barzani discusses in Baghdad common files with the State Administration Alliance
» Al-Halbousi's ambition to be the "Barzani of Anbar" clashes with the rejection of the people of his
» More than $260 million in foreign transfers to the Central Bank of Iraq in today's auction
» Al-Sudani's advisor explains: Has the government adopted a new approach to activate the private sect
» Al-Sudani: We have overcome the inherited problems with the Kurdistan Region
» Parliamentary Culture confirms its determination to legislate the Right to Access Information Law in
» The President of the Supreme Judicial Council receives the President of the Bar Association to discu
» Parliamentary confirmation to encourage Finnish companies to work in Iraq
» Ministry of Planning: A government delegation is holding negotiations in Berlin with the German side