Economist on the continued burning of gas: It costs the state billions of dollars and the Ministry o

Posted on[You must be registered and logged in to see this link.] by [You must be registered and logged in to see this link.]

[size=52]Economist on the continued burning of gas: It costs the state billions of dollars and the Ministry of Oil uses security as an excuse[/size]

[size=45]Financial and economic researcher Diaa Al-Mohsen explained that Iraq’s continued burning of its gas in the atmosphere costs the state billions of dollars, while he pointed out that the Ministry of Oil attributes the reason for not investing in associated gas to the security conditions in the country.[/size]
[size=45]Al-Mohsen pointed out that “the Ministry of Oil, despite all this time period extending for more than seventeen years since its agreement with Mitsubishi Company previously, and later with Shell and Total Company to confine the flared gas, has not been able to invest in the free gas as well.” He explained that “the ministry makes excuses for the security situation once and the lack of necessary funding another time, but these justifications are powerless in the face of the profits that the ministry distributes to its employees, which exceed billions of dollars annually.”[/size]
[size=45]Regarding Iraq’s loss in this file, Al-Mohsen explained that “burning the gas associated with oil production costs the state billions of dollars. I believe that Mitsubishi at the time limited the amount to around 7 billion dollars annually, a number that if multiplied in the years that followed this statement would have been a large millionaire (around 120 billion dollars, of which the company takes 17%). But what can we say to someone who understands nothing except bribery operations?”[/size]
[size=45]“In order to reach the stage of self-sufficiency, the Ministry of Oil and the government behind it must not be satisfied with wishes, because life is evolving,” he added. “We need to think seriously about establishing giant oil refineries that refine the largest possible quantities of oil produced by Iraq instead of exporting crude oil. There is no harm in exporting no more than 2 million barrels per day, while the remaining quantity is for the benefit of oil refineries established in Iraq. Therefore, we need a lot of money, and this can be provided through large investment companies working in the field of oil refining, with which an agreement is reached to establish giant refineries that refine the largest quantity of oil produced. Thus, Iraq will have worked to increase the money it obtains from selling oil derivatives instead of buying them. The other thing is to employ workers in these refineries, thus getting rid of the unemployment in the country.”[/size]
[size=45]The economic researcher continued, “Political influences are present in every economic file, not just in the oil file, because political parties and blocs have economies through which they control the projects that ministries present to contractors. These economies finance the parties to which they belong in various ways, and in a way that does not arouse suspicion about this or that party, but they also speak in the names of these parties among themselves.”[/size]
[size=45]He noted that “there is another problem related to gas-powered stations compared to the Iraqi climate, especially in the hot and dusty summer, which reduces the efficiency and operation of these stations, because they need a maintenance period of no less than three months every year, and therefore the exit of these stations for this relatively long period causes insomnia for officials in the Ministry of Electricity, and the same applies to stations operating on heavy fuel, which need maintenance periods that may be shorter than stations operating on gas, taking into consideration that stations operating on heavy fuel negatively affect public health through the emissions they release into the atmosphere and thus affect the health of citizens.”[/size]
[size=45]Al-Mohsen concluded, “The best alternative in this case is to go and establish solar-powered stations, given that the sun shines in Iraq for more than 14 hours a day, and these stations are less expensive in comparison, not to mention the possibility of investing in the land surrounding the solar-powered power stations and planting it in a way that makes it a windbreak and also produces types of agricultural crops.”[/size]
[size=45]Iraq now produces 3.1 billion standard cubic feet of gas per day, while spending nearly $4 billion annually on gas and electricity imports from Iran while at the same time flaring huge amounts of natural gas as a by-product in the hydrocarbon sector.[/size]
[size=45][You must be registered and logged in to see this link.]