Shell plans to expand the huge Iraqi gas project up to 40%

Royal Dutch Shell Company

April 2018 10:49 PM

DUBAI : The company is fully committed to its joint gas project in Iraq after the giant energy company exits its oil assets in the OPEC member country and plans to increase its gas production there to 1.4 billion cubic feet per day 2020 .

Iraq’s gas development plans have focused on Basrah, a $ 17 billion 25-year-old project in which Iraq has 51 percent, Shell 44 percent and Japan’s Mitsubishi 5 percent, Reuters said in a report late on Saturday .

The project aims to collect gas from the fields in the south of the country, including the West Qurna-1 field operated by ExxonMobil, the Zubair field run by Eni of Italy and the Rumaila field developed by BP .

Gas production from the joint venture, the main fuel producer in southern Iraq, currently stands at 938 million cubic feet per day (bpd), with plans for further expansion, the director-general of Basra Gas told Reuters .

“Since 2013 (when the operation started), we have increased the processing capacity more than three times,” he said in a telephone conversation from Basra .

“We will go to something called BNGL, or the expansion of Basra NGL (natural gas liquids), which will actually drive us from one billion cubic feet per day to 1.4 billion cubic feet per day through two units with a capacity of 200 million feet Standard cubic meter daily . ”

The dogs are expected to operate by the end of 2020, saying the number of units could be more than one-fifth with the final investment decision taken towards the end of the year .

“That is an increase of about 40 percent, and it will be huge . ”

Iraq plans to stop the burning of gas by 2021. The burning of gas causes the government to lose about $ 2.5 billion in revenue, while the amount of gas burned is sufficient to meet most of the needs of generating electricity using gas, the World Bank said .

Shell said it would focus its efforts on the development of the Basrah Gas Company after it handed over operations in the Majnoon field to the Iraqi government. Shell also sold its stake in West Qurna-1 to Japan’s Itochu .

Shell confirmed that Shell is committed to the Basrah Gas Company .

“Shell will be in a stronger position to focus its efforts on the development of Basrah gas and perhaps the Nebras petrochemical project, of course . ”

“Shell remains fully committed to Iraq via the Basrah gas . ”

In 2015, Shell signed a $ 11 billion deal with Iraq to build a petrochemical complex in Basra as part of Iraq’s plans to diversify its sources of income .

The Nebras complex, which is still in the initial planning phase of the engineering designs, could make Iraq the largest petrochemical producer in the Middle East, Reuters said .

The Saudi Basic Industries Corporation (SABIC), the world’s fourth largest petrochemical company, is in talks to join Shell as a partner in the Nabras project, the agency quoted an Iraqi official as saying in February .

Kellab declined to comment on specific talks but said Shell was in talks with several partners in the project .

Iraq’s production of associated gas is expected to grow as the country increases its oil production capacity. Iraq plans to increase the country’s production capacity of crude oil to 6.5 million barrels per day by 2022, from about five million barrels a day at the moment .

Iraq, the second largest producer of the Organization of the Petroleum Exporting Countries (OPEC) after Saudi Arabia, produces about 4.4 million bpd below its capacity, in line with OPEC-led global production cuts to support crude prices.

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the Supreme Iraqi Court: Article 140 is in force and must be implemented

Iraqi Supreme Court: Article 140 is in force and must be implemented
 Twilight News    
 53 minutes ago

The Supreme Federal Court issued a decision on constitutional article 140, noting that it is one of the important articles of the Constitution and does not die in any way.

The legal expert Khalil Mirani said in an interview with the official website of the Kurdistan Democratic Party that the Federal Supreme Court issued a few days ago its decision on the constitutional article 140, explaining that according to the court’s decision, Article 140 of the articles of the Iraqi Constitution is not in any form and must be implemented, he said.

He added that “the decision came in response to the people and the Iraqi forces, which claimed that the 140 has expired, but the Kurds insist on it, because the Iraqi authorities when the implementation of any constitutional article in favor of the Kurds do not implement.”

The legal expert pointed out that “the Kurds have been busy during the last period of building Iraq to live all Iraqi people under the state in all their components after 80 years of dictatorship and become a federal democracy,” but added that “it appeared that those who ascend the throne of power in Iraq governed by mentality Previous itself “.

He stressed that “the implementation of Article 140 until 2007, but it was not implemented, because of Baghdad,” pointing out that “the Kurds will not give up those areas of Kurdistan, which falls within the constitutional Article 140.”

He explained that “most of those areas were until last year under the authority of the Kurdistan Region,” but added that “because of some traitors, the region lost those territories.”

“The people should punish the traitors who caused this great betrayal in the loss of part of the territory of Kurdistan,” he said.

The central bank is witnessing a decline in sales of the currency auction

Economie

Since 2018-04-30 at 14:18 (Baghdad time)

Baghdad Mawazine News

The central bank’s foreign currency sales, with Monday’s auction, fell by $ 16.88 million.

“The exchange rate reached 1190 dinars per dollar in the auction held with the participation of 30 banks and two financial transfer companies,” the Central Bank said in a statement received by Mawazine News.

He added that “these sales are the outcome of the auction scheduled for Tuesday,” asserting that “the total sales of this day amounted to about 152 million dollars.”

Amounts sold to strengthen bank balances abroad amounted to $ 136.21 million and cash sales were estimated at $ 1.08 million.

The central bank said that the sale of amounts transferred to the accounts of banks abroad at the price of 1190 dinars per dollar, while the cash sale will be at the same price.

Yesterday, the central bank sold more than 210 million dollars in the auction.

is over

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Iraq’s economy is entering an unprecedented historical turn

 

Release date: 2018/4/30 22:02 • 4 times read
{Baghdad: Al-Furat News} The government revealed an economic step that may take an economic turn in the history of modern Iraq.
Prime Minister Haider al-Abadi said during a meeting with the Federation of Trade Unions in all governorates on the occasion of the World Labor Day, “the formation of a higher committee for the alternative economy because of global concerns not to rely on oil in the future and to create a productive economy,” according to a statement of his media office.
“We are moving towards a new phase of construction and reconstruction that needs a great deal of effort,” he said, adding that “the rise of the country requires us to move the work across the country, indicating the need for security to rise.”
Abadi stressed that “the government with the slice of workers in the full guarantee of their rights,” pointing out, “When we received the government we had the goal of liberating the occupied provinces and the removal of a danger calling for Baghdad and the situation was tragic and all the effort of the state and its financial resources were directed to the liberation operations, but our unity and our determination and the courage of our fighters and their sacrifices achieve victory” .
“We have cleared all our territory and controlled the Iraqi-Syrian border for the first time in full and we are pursuing a da’eef and expelling it even outside of Iraq.” Dr. Haider al-Abadi praised Iraqi competence.
Among Abadi , “when I visited Mosul Dam was engineers and workers Iraqis skilled work successfully and acquire great experience and compete with international experience , ” pointing out that “everyone is surprised how he got up Iraq and that the Iraqi army has become one of the strongest armies in the region.
He said Abadi , attention to chip youth and provide opportunities Work for them.
Iraq relies on its annual financial balance on oil imports by more than 90%, after the decline of the industrial and agricultural sectors, and the private sector.
Iraq currently produces about one million barrels of oil per day, including domestic consumption

Rafidain Bank holds its first conference on the mechanism of advances and loans

30/04/2018

(Independent) .. Prepared Rafidain Bank to hold its first financial and banking conference to explain the mechanism of loans and advances and settle the salaries of employees electronically.

The bank’s media office said in a statement that the bank will hold its first financial and banking conference on Tuesday at 1:00 pm at the fishing club hall in the presence of officials of the Ministry of Finance and the Central Bank and advisers in the prime minister and pro-government institutions and directors of government and private banks and other officials.

He pointed out that the conference discusses the mechanism of loans and advances and the settlement of salaries of employees of the State Departments electronically and issuing Master Card and granting them advances and loans and the announcement of the application of the electronic system and update citizens’ data

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Al-Kefal Stadium opens tomorrow 10,000 spectators

Editorial Date: 2018/4/30 20:48

[Ain-Baghdad] The

Ministry of Youth and Sports has completed its preparations for the opening of Al-Kifl Stadium in Babel province, which will have 10,000 spectators on Tuesday.

“The stadium is similar to the Italian Manachi and the sprinkler system is a modern American system and a modern system for the drainage of rain water,” a ministry statement quoted the agency as saying.

He added that “the capacity of the stadium and the directives of the Minister of Youth and Sports, Abdul Hussein Abtan, changed from 5 thousand spectators to 10,000 spectators as well as 280 VIPs [vip].”

http://www.alliraqnews.com/modules/news/article.php?storyid=73241

Abadi confirms the provision of large employment opportunities for young people

 

Political situation

Monday, April 30, 2018 09:34 PM

BAGHDAD – Prime Minister Haidar al-Abadi said on Monday that the construction phase will see great employment opportunities for young people, pointing out that the government is responsible for every worker in Iraq.

“The government has been responsible for every worker in Iraq in both the private and public sectors,” the official television reported.

Abadi said that “the construction phase will see the creation of large employment opportunities for young people,” noting that “the security situation in Iraq improved significantly compared to the past.” Finished

http://aynaliraqnews.com/index.php?aa=news&id22=97232