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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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    Activating the file to establish a large artificial island to export oil

    Rocky
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    • Post n°1

    Activating the file to establish a large artificial island to export oil Empty Activating the file to establish a large artificial island to export oil

    Post by Rocky Tue 03 Sep 2024, 4:53 am

    Activating the file to establish a large artificial island to export oil

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    Economy News - Follow-up
    The Iraqi sea outlet for oil exports has stabilized at 3 million and 300 thousand barrels per day, while the government is working to activate the file of establishing the first artificial island for export.
    Basra Oil Company Director General, Basem Abdul Karim Al-Shahmani, said in an interview with “Al-Sabah” followed by “Al-Eqtisad News”, “Iraq is accelerating the steps to establish one of the largest artificial islands in territorial waters for export, which will place us at the center of maritime countries producing oil and gas, with an increase in fishing areas in large areas open to international waters.”
     Although the idea of ​​establishing an island to export oil was previously proposed as an idea, the current government is determined to advance the Iraqi economy and accomplish what previous governments failed to do. Al-Shahmani revealed "seeking to discuss with a group of international companies the implementation of new maritime lines with different capacities to transport crude oil from the oil depots of the Faw Peninsula to the platforms and the Basra oil port as part of plans to increase production to 7 million barrels per day in the coming years, with oil pipeline projects - proposed and under construction - reaching 3.83 thousand kilometers."
     Al-Shahmani explained that the Basra-Haditha oil pipeline project will supply the refineries and northern governorates with their full oil needs, amounting to 1.5 million standard barrels per day, adding that it will allow for the establishment of logistical areas and petrochemical industries, and provide job opportunities, especially after the strategic pipeline system has currently declined to capacities that only meet 60 percent of the needs for crude. 
    Al-Shahmani continued, "The Haditha-Basra pipeline is the largest oil pipeline in the country, with a length of 680 kilometers, and a cost of more than 4 billion dollars, and includes the establishment of a warehouse in Basra, and a group of strengthening pumping stations in Muthanna, Najaf, Anbar and Haditha with a capacity of 2 million standard barrels per day." He indicated that "the oil transfer crossing from Basra and the southern governorates aims to secure the transfer of oil to the refineries in the governorates of Karbala, Muthanna, Diwaniyah and Anbar, as well as to Al-Musayyab, Al-Dura and the central regions, which comes in conjunction with securing government commitments for new refineries."
    The Director General pointed out that "the rate of crude oil exports from the Basra and Maysan fields reached 3 million and 300 thousand barrels per day through the Faw oil ports in August, in addition to the local demand for oil and securing the daily needs of refineries."
     


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