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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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    Two decades of American blood and treasure should not be left behind.. Washington revolts against "C

    Rocky
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    Two decades of American blood and treasure should not be left behind.. Washington revolts against "C Empty Two decades of American blood and treasure should not be left behind.. Washington revolts against "C

    Post by Rocky Today at 3:49 am

    [size=35][size=35]Two decades of American blood and treasure should not be left behind.. Washington revolts against "Chinese expansion in Iraq"[/size]
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    2024-10-08 | 04:25
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    [You must be registered and logged in to see this link.]News - Economy

    The American magazine Forbes revealed that the American government is focusing on addressing the Chinese takeover of the energy sector in Iraq, by pushing more American companies into the country.


    Forbes magazine quoted US Deputy Secretary of State for Energy Affairs Geoffrey Pyatt as saying: “Everyone understands the importance of Iraq, the second largest proven reserves in OPEC,” adding that “after two decades of American blood and treasure in Iraq, we should not forget that, and now the relationship is moving to a new stage.”



    The development of Iraq’s energy system is also an opportunity to take on China’s position in the region, Bayat added, and the growth of Iraq’s energy sector will take place “in a market environment.”

    He noted that “unlike the Chinese, who may have other motivations, our companies will step in where they feel there are assets, but also where there are options to recover capital and make some progress.”

    Bayat said that “the Sudanese government is serious about trying to attract Western investment in this sector, and when I was there in May, there was a real sense of sadness that the fifth and sixth rounds of bidding went entirely to small, inefficient Chinese companies, and that the large Western companies were few in number.”

    He considered that “it is an integrated oil market on a global level, so I am not worried at all. It is an interchangeable and integrated market, except for Russia, which has managed to put itself in the sanctions zone because of Ukraine and has been excluded from major markets.”

    The relationship between the new Iraqi government and the US government has developed rapidly over the past six months, Forbes says. After Sudani’s visit to Washington in April, Bayat visited Baghdad, Jordan and Saudi Arabia, leading to a series of memoranda of understanding, meetings and collaborations.

    In the past month alone, the US State Department has managed high-level meetings between Sudani and energy giants such as GE, Renova, Total, BP, Baker Hughes, Halliburton, Hunt and Honeywell. Driven by a sense of urgency, Bayat, Sudani and senior executives from the US Chamber of Commerce and the energy sector met in Houston for Gastech, the international ministerial-level conference for natural gas executives. They met again a week later during Climate Week in New York and the UN General Assembly.

    On October 1, the U.S. Export-Import Bank announced that Congress had authorized it to release nearly $300 million to the Iraqi Ministry of Electricity, which will be paid to Jacksonville, Fla.-based Stellar. The Iraqi government will pay Stellar $297 million to convert two of Iraq’s three single-cycle power plants to natural gas-fired combined-cycle units.

    Once converted, Iraq’s total power generation capacity will increase from 550 megawatts to 835 megawatts, an increase of about 40 percent in power generation capacity.
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