The oil minister expects to add new quantities of "hydrocarbon" wealth to Iraq’s reserves

[yota691]

After a halt of 3 decades .. Oil begins to export crude through the Iraqi tanker company

 

 Since 2018-06-06 at 15:37 (Baghdad time)

BAGHDAD - 
The Ministry of Oil announced on Wednesday, the direct loading and export of the first shipment of crude oil through the Iraqi tanker company from the southern ports after a break lasted nearly three decades. 
"This step, which comes under the direction of Oil Minister Jabbar Ali al-Allaibi, to restore the activity of the Iraqi tankers company in the transport of crude and oil derivatives to all parts of the world," said the Director General of the Iraqi Tanker Company, Hussein Allawi, in a statement received by Mawazine News. "The company is planning to build an integrated fleet of giant tankers to restore the glory of the company as a national carrier." 
Allawi added that "the company has concluded a number of cooperation agreements with the Arab Shipping Company in a step to build the progress of this sector, which ceased its activity since 1991 and include transport and joint cooperation and the preparation and training of national cadres and the number of 100 trainees annually to manage the tanker fleet for the coming period."
For his part, the spokesman of the Ministry of Oil, Assem Jihad, "The load of this shipment of two million barrels and the tanker company to load and transport to the United States for a company contracted with the oil marketing company." 
"The company has recently received certificates of quality (ISO), which is an important step of the ministry to activate this company and turn it from a losing company to a profitable company through activating the activity of the transfer of oil derivatives and crude oil." 
The Iraqi Oil Tanker Company (IOTC) is an Iraqi state-owned company specializing in the shipping of crude oil and refined products. 
The company was established in 1972, while its work ceased since 1991. It ended 29/6 N

[yota691]

Iraq begins exporting the first shipment of crude oil through the Iraqi tanker company

 2018-06-07 09:51:39 

Iraq has started exporting its first shipment of crude oil through the Iraqi tanker company for the first time since 1991, the Iraqi Oil Ministry said on Wednesday.

The shipment is 2 million barrels and will be sent to the United States, the ministry said in a statement.

A commercial source familiar with the matter said Valero hired the tanker from the Iraqi tanker company.

"This step comes to restore the activity of the Iraqi tanker company in transporting crude and oil derivatives to all parts of the world," the statement said.

He added that the company has concluded a number of cooperation agreements with the Arab Shipping Company "in a step to build the phase of this sector, which has ceased its activity since 1991."

Arab oil producers such as Saudi Arabia, the United Arab Emirates and Kuwait have a stake in the Arab Shipping Company.

[Pitcher]

Iraq’s Ministry of Oil has made its first direct shipment of crude oil since 1991.

The two-million barrel shipment was made via its subsidiary company, the Iraqi Oil Tankers Company (IOTC).

It will be delivered to a US-based customer of the State Oil Marketing Organization (SOMO).

 

http://www.iraq-businessnews.com/2018/06/08/oil-ministry-makes-first-direct-shipment-of-crude/

 

[Calijim]

Welcome to world commerce.

[ChuckFinley]

Thanks Yota, looking good.  

[10 YEARS LATER]

1 hour ago, ChuckFinley said:

Thanks Yota, looking good.  

 

Kinda feels like 3 decades for us as well, huh CF 

[Butifldrm]

The first Iraqi oil tanker to leave with loads of crude after a three-decade hiatus

9 hours ago

 

NRT

The Ministry of Oil announced the export of the first shipment of crude oil, through a tanker flying the Iraqi flag, launched from the southern ports of the country after a break of about three decades .

Quoted "Agence France - Presse , " ministry spokesman, Assem Jihad, said in a press statement, on Saturday, June 9, 2018, he said that the oil "Baghdad" tanker sailed on Friday evening from Basra to the United States, the first time since 1991 that goes where Iraq tankers Oil affiliate .

He added that "the load of this shipment is 2 million barrels and the tanker company to load and transfer to the United States in favor of a company that contracts with the oil marketing company ."

For his part, Oil Minister Jabbar al-Luaibi, the keenness of the ministry to promote the reality of the Iraqi tanker company and the re-activity of the national carrier of crude oil to all parts of the world . " The ministry is planning to build a national fleet for the transport of oil and oil derivatives for the benefit of the companies that contract with the Iraqi Oil Marketing Company," al-Allaibi said in remarks after completing the loading of the first oil tanker named "Baghdad" with crude oil and leaving for the southern export exporters en route to the United States . 

Iraq has recently received four oil tankers, which will soon be reinforced by three additional tankers .

Iraq is the second largest oil producer in the Organization of Petroleum Exporting Countries (OPEC) after Saudi Arabia, and had in the eighties of the last century, 24 tanker oil destroyed a large part of them or became out of service due to wars successive wars of the country from the war with Iran (1980-1988) To the invasion of Kuwait in 1990, and then the US invasion in 2003 .

R.

http://www.nrttv.com/Ar/News.aspx?id=1241&MapID=5

[blueskyline]

http://rawabetcenter.com/archives/68195.........

Iraqi oil tankers resume their activities to all countries of the world

- One Day Ago

Shatha Khalil *

The Iraqi Ministry of Oil has been keen to promote the rehabilitation and development of the tanker companies and to resume its national export of crude oil to all parts of the world after a three-decade hiatus.
The ministry recently completed the loading of the first oil tanker called "Baghdad" with crude oil and leaving for southern export ports en route to the United States. 
Oil Minister Jabbar al-Luaibi said the ministry plans to build a national fleet to transport oil and oil derivatives in favor of companies contracting with the Iraqi oil marketing company "Sumo". 
Al-Luaibi said that the ministry has made important steps in transforming this company into a winner after the decline and discontinuation of its maritime activity in the past decades because of wars and difficult economic conditions, pointing to its efforts to provide more support and support to the company, thus contributing to elevate it to the ranks of international companies.

The director general of the company Hussein Allawi said that this step comes under the direction of Oil Minister Jabbar Ali Al-Allaibi to restore the activity of the Iraqi tankers company in the transfer of crude and oil derivatives to all parts of the world and a step for the progressive construction of this sector as it will transport crude oil to international ports by the operation of 4 giant carriers, 3 other carriers in the near future and will carry the Iraqi flag as it roams the world. 
Allawi said that the company will load the tanker named "Basra" after the departure of the tanker, "Baghdad", which carries two million barrels of crude oil in favor of a company that contracts with the oil marketing company. 
The company has signed several cooperation agreements with the Arab Shipping Company, including transport and joint cooperation, and the training of national capacities by 600 trainees to manage the tanker fleet in the coming period, pointing out that the company plans to build an integrated fleet of giant tankers to be the national carrier of oil and its derivatives.

The spokesman of the Ministry of Oil Assem Jihad, that the company has recently received the certificate of quality (ISO), which is an important step of the ministry to revitalize the company and turn it from loser to winner through activating its activities in the transfer of oil derivatives and crude oil, pointing out that Iraq is the second largest producer Of oil in the Organization of Petroleum Exporting Countries "OPEC" after Saudi Arabia, with a capacity of 4.8 million barrels per day.

In the context of the planning, achievements and development of the ministry, new contracts were signed in the initials, on June 4, 2018 for the rehabilitation of oil fields and the exploration border with two Chinese companies, and three other contracts with the UAE company. Al-Luaibi said that the ministry has ambitious plans to develop these fields and the exploration of the border. The ministry will work on developing the remaining five border fields in the near future, adding that it is hoped that the production rate of the six fields will reach 500 thousand barrels per day in the future.

Al-Allaibi said that the ministry hopes the companies signing the contracts to develop the necessary plans for the development of production rates and increase in accordance with the time periods specified in addition to the implementation of service projects for areas surrounding the fields and patches exploration, relying on the employment of Iraqi workers by not less than 95%

The Director General of the Department of Contracts and Licenses of Petroleum Abdul-Mahdi Al-Amidi said that the ministry signed with the Chinese company (GEO-JADE) two contracts for the development of exploration patches and fields in the (oil Canna) in Diyala province and (Huweiza) in Maysan province, in addition to the signing of a contract with the company (UEG) To develop the field of exploratory fields (Sinbad) in the province of Basra, adding that the ministry will present the six contracts signed with companies to the Energy Committee in the Council of Ministers for the view and ratification.

A representative of GEO-JADE of China, Henry Soo, expressed the company's readiness to work with the Ministry of Oil and abide by the terms of the contract and implement them to achieve the common interests of both parties.

In the presence of the ministry's agents for extraction, liquidation and distribution, a number of general managers, ministry officials, the inspector general's office and the media, the ministry signed another contract with the representative of Shankwei Company (UEG), which expressed the company's readiness to develop working relations with the ministry in new fields.

The Ministry of Oil is keen to develop oil fields and rehabilitate the working cadres and conclude contracts with the firm companies to increase the production and upgrading of the oil sector at the appropriate level of the volume of wealth in Iraq, especially after the exposure of the oil fields and refineries in the north and west to sabotage and complete destruction, Since June 2014, and freed from his fist, on 10 December last.

Iraq is the second largest producer of oil in the Organization of Petroleum Exporting Countries, "OPEC" after Saudi Arabia, with a capacity of 4.8 million barrels per day.

Economic Studies Unit 
Link Center for Research and Strategic Studies........Thanks f26

 

[yota691]

The establishment of an oil island floating off the coast of FAO

Editorial Date: 2018/6/13 18:03 • 188 times read

[Wayne-Baghdad] 
spokesman for the Oil Ministry , Assem Jihad, said on Wednesday that Iraq plans to increase oil exports after the completion of the export restriction , which began early in 2017, the agreement of producers from inside and outside "OPEC".

The ministry spokesman said in a press statement that "the restriction on the current Iraqi oil exports will end, and then Iraq will need to export 5 or 6 million barrels of oil per day." 
And on how to raise oil exports Jihad said that "the South Oil Company, put forward a project to establish a floating oil island off the coast of the city of Faw, in order to add export capacity of up to two million barrels per day." 
Jihad added that "the current export outlets in Iraq suffocated; so plans to add new export outlets, operated by the Ministry of Oil." 
For his part, Director General of Basra Petroleum Company Ihsan Abdul-Jabbar, said that "the competent committee in the company, discuss the establishment of a floating oil island project."
He pointed out that "the project will provide multiple services to the oil sector, including the anchoring and launching of oil tankers and storage, and provide accommodation for staff working in oil ports and the provision of warehouses and warehouses for marine parts and maintenance 

[yota691]

Iraq plans to build a floating oil island

 

Editor Ammar Tariq - Thursday, June 14,

 

 

 

 

Alsumaria News / Baghdad   An oil official said Wednesday that his country plans to increase oil exports after the export restriction, which began in early 2017, with the agreement of producers from within and outside OPEC .   In the face of plans to raise oil exports, the Southern Oil Company, based in the province of Basra , Iraq, a project to establish a floating oil island off the coast of the city of Faw, with the aim of adding export capacity of up to two million barrels per day.     "The restriction on the current Iraqi oil exports will end, and then Iraq will need to export 5 or 6 million barrels of oil per day," a Gulf newspaper quoted the official as saying .   "The current export outlets in Iraq are suffocating, so the plans are to add new export outlets operated by the Ministry of Oil," he said.   For his part, Director General of the Basra Oil Company, Ihsan Abdul-Jabbar, that "the competent committee in the company is discussing the establishment of a floating oil island project." He added that "the project will provide multiple services to the oil sector; including the anchoring and launching of oil tankers and storage, and provide accommodation for staff working in oil ports, and the provision of warehouses and warehouses for marine parts and maintenance," noting that "many companies submitted to establish the project investment system."   Iraq currently produces about 4.5 million barrels of oil per day, of which 3.2 million are exported, and seeks to increase production of over 5 million.   Basra has seven ports overlooking the Arabian Gulf; five of them are for commercial purposes, and two - the port of Al Amiyah and the port of Basra - are dedicated to the loading of about 80% of Iraq's oil exports.

[Butifldrm]

FIRST IRAQ-FLAGGED OIL TANKER IN THREE DECADES LEFT BASRA FOR USA

support of Operation Iraqi Freedom (OIF). U.S. Navy photo by Photographer's Mate 2nd Class Samuel W. Shavers (RELEASED)" rel="external nofollow">

SHAFAQNA – Iraq has Exported First Crude Oil Cargo through Iraq-flagged tanker for the first time in three decades.

Iraq, which has been ravaged by a series of wars since the 1980s, is the oil cartel OPEC’s second-biggest producer with 153 billion barrels of proven crude reserves.

“The Baghdad left Basra on Friday night headed for the United States. It is the first time since 1991 that Iraq is running its own oil tankers”, oil ministry spokesman, Assem Jihad, said. Basra, in southern Iraq, is an oil-rich province.

In May, Iraq exported 3.5 million barrels of oil per day (bpd), according to the oil ministry. Iraq’s maximum production capacity is about 5 million bpd, although the government’s plan is to increase this capacity to 6.5 million bpd by 2022, according to Energy Voice’s website.

Under late dictator Saddam Hussein, Iraq went to war with Iran between 1980 and 1988 and invaded Kuwait in 1990, before being expelled by a US-led coalition.

Since an American-led invasion of Iraq in 2003, the country has been blighted by long periods of chaos, culminating in a three-year battle against Islamic State group militant , Middle East Eye reported.

The Iraq War was a war for oil, and it was a war with winners: Big Oil.

Before the 2003 invasion, Iraq’s domestic oil industry was fully nationalized and closed to Western oil companies. A decade of war later, it is largely privatized and utterly dominated by foreign firms.

From ExxonMobil and Chevron to BP and Shell, the West’s largest oil companies have set up shop in Iraq. So have a slew of American oil service companies, including Halliburton, the Texas-based firm **** Cheney ran before becoming George W. Bush’s running mate in 2000.

Oil was not the only goal of the Iraq War, but it was certainly the central one, as top U.S. military and political figures have attested to in the years following the invasion.

“Of course it’s about oil; we can’t really deny that,” said Gen. John Abizaid, former head of U.S. Central Command and Military Operations in Iraq, in 2007.

Former Federal Reserve Chairman Alan Greenspan agreed, writing in his memoir, “I am saddened that it is politically inconvenient to acknowledge what everyone knows: the Iraq war is largely about oil.” Then-Sen. and Defense Secretary Chuck Hagel said the same in 2007: “People say we’re not fighting for oil. Of course we are.”

While the U.S. has also maintained a fairly consistent level of Iraq oil imports since the invasion, the benefits are not finding their way through Iraq’s economy or society. These outcomes were by design, the result of a decade of U.S. government and oil company pressure. In 1998, Kenneth Derr, then CEO of Chevron, said, “Iraq possesses huge reserves of oil and gas-reserves I’d love Chevron to have access to.” Today it does, CNN reported.

Infrastructure in Iraq, which depends on oil for 99 percent of revenue, was devastated, so authorities are looking to boost oil and gas output.

According to Energy Today, Iraq has formed a joint venture with a shipping company owned by Arab states to transfer, store and trade crude and oil products.

The country has leased four tankers and is expected to obtain three more at a later date.

Iraq is looking to have its own fleet after decades without its own vessels, planning to invest in the creation of world-class strategic infrastructure for oil and gas, shipping logistics and trading operations.

https://en.shafaqna.com/first-iraq-flagged-oil-tanker-in-three-decades-leaves-basra-for-usa/

[yota691]

The establishment of a floating oil island in the south to accommodate the increase in exports

03/7/2018 12:00 am  BAGHDAD /   Iraq is seeking to streamline the export of oil after the restriction on exports by establishing a floating island that meets the technical and logistical needs of transporters, workers and equipment maintenance.  The South Oil Company, on June 14, based in the province of Basra, Iraq, the project to establish a floating oil island off the coast of the city of Faw in preparation for increasing Iraq's export capacity of oil, to more than 5 million barrels per day, especially that the OPEC countries and their partners have approved On June 23, 2018, the principle of increasing crude oil production to meet the growing demand in the markets crews The consultant in the Iraqi Oil Ministry and oil expert Hamzah al-Jawahri told the "MONITOR" that "the ports adopted by Iraq for export in the south are five floating type, and two of the fixed type, Khor al-Amiyah and the port of Basra, all in need of technical and administrative staff The Ministry noted that there is a need for more streamlining in the work, which will double in the future after the increase in the production of oil and its derivatives, which requires additional technical, logistical and human support, which could be provided by the island oil project near the ports The seven upscale, facilitate the work of the shift in the labor and delivery of services, non - stop, caused by disruptions of emergency or human errors or cases of oil spill at the port platforms. " Residence Al-Jawahiri revealed that "the floating island will include spare parts stores for all equipment and pumps, in addition to civil protection teams, technical services, and comfortable and modern accommodation for workers."  "One of the benefits that Iraq derives from this island, according to the jeweler, is to avoid delaying work due to possible failures, shortening the time in the export of oil, and cutting off any emergency crisis due to the interruption of one of the pumps, which costs Iraq fines of about 300 million Iraqi dinars Recent period ".  The other advantage of the island, according to Jeweler, is "to absorb the increase in oil export and production, as well as increased production in derivatives, with the increase in the number of refineries, and doubled production, which reached in the first phase to half a million barrels per day. Energy storage According to Al-Jawahiri, "Al-Jazeerah provides storage capacity for both oil derivatives and black oil, and will absorb the remnants of refineries, as the island continues with the docks of ports in a streamlined form. In the event of disruption of any of the seven berths,  The jeweler reveals "the award of the contract to a Dutch company, and included a preliminary agreement, while the ongoing discussions, on the length of completion of the project and expected costs."  The Basra province includes Iraqi ports overlooking the Gulf, five of them are for commercial purposes, and two are the port of Amaya and the port of Basra are dedicated to load about 80 percent of Iraq's oil exports, while Iraq signed on June 4, 2018 three new contracts to develop three oil fields and exploratory and rehabilitation in the middle The country and its south. The Island Project More details about the timing of the project speaks about the director of the oil marketing company "Sumo" Alaa Yasiri, confirming that "the floating island project will contribute to the flow of oil export to about 6 million barrels per day," noting that "the plan is the signing of the contract during the first quarter of 2019, and that the project will start operating a partial card in the first quarter of 2022, and then enter full other services in the last quarter of 2022.

[ChuckFinley]

On 6/9/2018 at 9:55 PM, 10 YEARS LATER said:

 

Kinda feels like 3 decades for us as well, huh CF 

We could have retired twice over. This better be paying Big Time, 

[yota691]

«Sumo» is considering buying oil storage tanks in Asia

 

Headquarters of the oil marketing company "Sumo"

energy Economy News Baghdad The Iraqi Oil Marketing Company (SOMO) is considering acquiring oil storage tanks in Asia and welcomes discussions on more profit sharing agreements as it seeks to expand its presence in the region. "We are looking to acquire storage tanks on facilities in our main market, Asia," said Ali Nizar, director of oil and gas marketing at Sumo on the sidelines of the Asia-Pacific Petroleum Forum . "So any other agreements or deals to share profits to serve these objectives may be studied," he said, adding that deals should not cause conflicts of interest with existing agreements. Sumo has set up a joint venture with Litasco, the trade arm of Lukoil, and started supplying Basrah crude to Chinese partner Chen Hua-il, which will soon set up a joint venture with it. Nizar had announced Tuesday that Iraq exports about 3.6 million barrels per day of crude from its southern fields. "We are just under 3.6 million bpd, but we can reach that level. Iraq's exports from southern oil fields in September are heading towards a record high, according to two sources in the sector last week, exceeding August's 3.58 million barrels per day. We are not opportunistic and we will not take a market share of Iran, "Nizar said. The Oil Ministry said it exported about 111.06 million barrels of crude oil to global markets, last August. It added that crude oil exports had improved by 109.8 million barrels in the previous month. Views 486   Date Added 26/09/2018

[yota691]

Iraqi crude oil reserves exceed 153 billion barrels

 

 Twilight News    
 3 hours ago

(Reuters) - Iraq's crude oil reserves exceeded 153 billion barrels, Iraqi Oil Ministry Undersecretary Fayyad al-Naama said on Wednesday. 
In an oil exploration conference held in Baghdad, Al-Neama said that the Iraqi oil exploration company is continuing to increase exploration through its teams or in cooperation with foreign companies. 
He added that "the work carried out by the oil exploration company today, a distinct work using the latest scientific and technological technologies to add new reserves, and that Iraq opens the doors for partnerships with neighboring countries to get quick results in the exploration in the common border areas." 
He said that "our plan for the coming years in the oil field will be focused on the exploration effort in areas promising to obtain crude oil and gas in the eastern and western Iraq to meet the requirements of electricity production."

Keywords: 

[yota691]

Iraq's crude oil reserves exceeded 153 billion barrels

02:13 - 21/11/2018

 

 

 

BAGHDAD - Mawazine News 
Undersecretary of the Ministry of Oil Fayyad al-Naama, on Wednesday, that crude oil reserves exceeded 153 billion barrels. 
"The Iraqi oil exploration company is continuing to increase exploration through its teams or in cooperation with foreign companies," said the blessing, in a conference of oil explorations held in Baghdad, and his follower / Mawazin News, "pointing out that" the reserves of crude oil in his country exceeded 153 billion barrels "He said. 
He added that "the work carried out by the oil exploration company today, a distinct work using the latest scientific and technological technologies to add new reserves, and that Iraq opens the doors for partnerships with neighboring countries to get quick results in the exploration in the common border areas."
"Our plan for the coming years in the oil field will focus on the exploration effort in the promising areas to obtain crude oil and gas in the eastern and western parts of Iraq to meet the requirements of electricity production."

[Butifldrm]

Oil reveals increased reserves of crude

 

One of the Iraqi oil fields

2018-11-22

1904 views

+ -

Digital Media NRT

The Ministry of Oil, the increase in crude oil reserves in Iraq to more than 153 billion dollars.

A statement by the ministry on Wednesday (November 21) for the oil ministry undersecretary for refineries Fayyad grace , saying during attending the first scientific conference for research exploration , said that " the ministry has managed to achieve oil reserves reached 153 billion barrels and is seeking to increase these rates through drilling And the exploration that is currently taking place through the fifth round of licenses for exploration. "

He added that "the strategy of the Ministry of the future confirms the discovery of deep reservoirs and intensification of exploratory drilling and evaluation to prove what has been explored from the structures of hydrocarbons, as well as to highlight the gaseous axes and exploratory and border structures."

For his part, Spokesman for the Ministry Assem Jihad, said that "the ministry and national companies are keen to organize conferences and events and scientific workshops to communicate with technology and scientific development in the fields of exploration and other sectors of oil and gas industry."

He pointed out that Iraq has the largest stock of hydrocarbon wealth of more than 500 billion barrels and proven reserves of more than 153 billion barrels and the ministry is seeking to support and strengthen proven reserves to levels commensurate with the huge oil reserves that we have.

Iraq has recently resumed exports of Kirkuk oil after it stopped more than a year ago amid a dispute between Baghdad and the Kurdistan region, an average of between 50 thousand and 60 thousand barrels per day, compared with peak levels of 300 thousand barrels per day during some months of 2017.

H

http://www.nrttv.com/AR/News.aspx?id=6703&MapID=5

[yota691]

Iraq seeks to increase the storage capacity of 20 million barrels of crude oil by 2026

2:01 - 08/12/2018

 

 

 

BAGHDAD - 
The Ministry of Oil announced on Saturday that it seeks to increase the capacity of storage capacity up to 20 million barrels of crude oil during the year 2026. 
The Director General of Basra Petroleum Company Ihsan Abdul-Jabbar said in a press statement quoted by the newspaper "morning" Therefore, his company "developed a program to develop its export capabilities until 2025 to accommodate the volume of crude oil production for the fields of Basra and the southern provinces." 
"The program will double the capacity of Basra platforms and ports to export crude oil by 100 percent to 6 million barrels per day of energy, instead of the current capacity of three million and 500 thousand barrels per day," Abdul Jabbar said.
He stressed that "there is a parallel plan to increase the capacity of storage capacity up to 20 million barrels of crude oil during the year 2026 to ensure the ability to manage the quantities of oil produced from the center and south of the country and that will develop sustainable development."

[yota691]

Revealed a partnership pledge Iraq oil for 20 years coming

 

 Twilight News    
 one hour ago

Shafak News / A member of the House of Representatives for the bloc of Surson Sadiq al-Sulaiti for the existence of a partnership between the Arab company and the Iraqi oil tankers company to pledge Iraqi oil for 20 years. 
Al-Sulaiti gave a parliamentary question to the Office of the Inspector-General at the Ministry of Oil on "29 observations and overtaking proved by the Office" on the contract of partnership between the Arab company and the Iraqi oil tankers company and requested the priorities of the contract and answer the problems. 
Al-Sulaiti stressed that this partnership contract will put the Iraqi oil to the Arab company for the next 20 years as responsible for the export of Iraqi oil and its share of profits 22.5% only, explaining that this contract (monopoly) and prevents the Iraqi government party to conclude other contracts with others for 20 years .

Keywords: 

[yota691]

Deputy reveals a $ 17 million waste in the contract of the Arab Petroleum Transport Company

 

energy Economy News _ Baghdad A member of the Committee on Oil and Energy parliamentary Jamal Abdul-Zahra Al-Mahmoudawi, Wednesday, a financial waste of $ 17 million in the contract of the Arab Company for the transfer of oil.  "The Iraqi oil tanker company belonging to the Ministry of Oil, included the contract of the partnership concluded with the Arab Company for the transfer of oil wasted money more than (17) million dollars for three months only is ( April, May and June 2018) in an irresponsible and surprising process. " He added that "the Iraqi government imports gas oil at $ 660 per ton and sells it to this Arab company for $ 340 per ton and a loss borne by the general budget of the country for the benefit of the said company. Added to that loss is the sale of black oil, ($ 440) per tonne, while the Ministry of Oil is losing the oil price of $ 440 per tonne, due to the production by the Petroleum Products Distribution Company of 63,000 tons of black oil and 11,000 tons of gas oil during the three months mentioned Fuel to (7) carriers leased by the company A note that the profits of the Iraqi oil tankers from the lease for the months mentioned do not exceed $ 5 million only. "  He said that the total losses of the Ministry of Oil resulting from those transactions amounted to about $ 23 million. He pointed out that "from the remarks on the same contract that he canceled the right of the Iraqi side to conclude contracts for a 20-year participation in the disposal and sale of crude oil and the export of oil products and granting this right in a monopoly of the Arab company, which means that any disruption or delay in the work of that company may threaten the source The main funding for the Iraqi budget and economic because it does not allow Iraq to find an alternative or another option to break the crisis in this area. "  The member of the oil and energy parliamentary committee called on "the supervisory departments to uncover the causes of this great financial waste and to bring those involved to the judiciary and the dissolution of the contract to ensure Iraq's economic interests." Views 8   Date Added 16/01/2019

[yota691]

The parliamentary energy confirms the validity of information on the supply of oil to the Arabian Sea Company with fuel oil

08:52 - 18/01/2019

 

 

 

 

BAGHDAD (Reuters) - 
A member of the parliamentary energy committee, Jamal al-Muhammadawi, presented a set of documents that show the authenticity of the information that reveals that the Ministry of Oil supplied the Arabian Sea Company with fuel oil, causing a financial loss of $ 17 million in the contract between the Ministry of Oil and the Arab Maritime Transport Company.
Al-Mahmoudawi said in a press statement received by "Mawazine News", a copy of it, "While we emphasize our keenness to deal with all files professionally and objectively and from the position of responsibility and in response to what dealt with the Director General of the Iraqi Tankers Company on our comments regarding the contract of the Arab company, The oil products distribution company in the Ministry of Oil No. 19707 dated 17/12/2018 and the consignee to the South Distribution Commission. The decision of the Iraqi Ministry of Oil to re-equip the Iraqi Tanker Company with the quantity of fuel oil from the share of the tankers (Arbil, Karbala, Baghdad) for the month (April, / 2018) and the sum of 19800. 
He added: "The book of the Iraqi Oil Tankers Company No. 12512 on 5/12/2018 requires the Undersecretary for Distribution Affairs to approve and instruct the distribution company to process the ration of fuel oil."
"Any denial by the company needs evidence before public opinion and regulatory bodies and may be evidence of condemnation rather than a patent evidence," he said. 

In a press conference on 16/1/2018, MP Jamal al-Muhammadawi revealed a financial waste of $ 17 million in the contract of the Arab Petroleum Transmission Company. 
He pointed out that the partnership contract concluded by the Iraqi Oil Tanker Company of the Ministry of Oil with the Arab Oil Transport Company included a waste of more than $ 17 million for only three months (April, May and June 2018) in an irresponsible and surprising process.
He explained that the Iraqi government imports gas oil at $ 660 per ton and sells it to this Arab company for $ 340 per ton and a loss borne by the general budget of the country for the benefit of the said company. Added to that loss is the sale of black oil, which represents the output of local refineries at 120 dollars per Ton, while the world price per ton of black oil (440) dollars, a difference lost by the ministry because of the distribution company of petroleum products equipped the Arab company quantity (63 thousand tons) of black oil and (11 thousand tons) gas oil during the three months mentioned fuel to (7) carriers leased by the company Rbia note that the Iraqi Oil Tanker Company profits from the leasing process for months mentioned does not exceed $ 5 million Vqt.anthy 29 / h

[Synopsis]

3 hours ago, yota691 said:

In a press conference on 16/1/2018, MP Jamal al-Muhammadawi revealed a financial waste of $ 17 million in the contract of the Arab Petroleum Transmission Company. 
He pointed out that the partnership contract concluded by the Iraqi Oil Tanker Company of the Ministry of Oil with the Arab Oil Transport Company included a waste of more than $ 17 million for only three months (April, May and June 2018) in an irresponsible and surprising process.
He explained that the Iraqi government imports gas oil at $ 660 per ton and sells it to this Arab company for $ 340 per ton and a loss borne by the general budget of the country for the benefit of the said company. Added to that loss is the sale of black oil, which represents the output of local refineries at 120 dollars per Ton, while the world price per ton of black oil (440) dollars, a difference lost by the ministry because of the distribution company of petroleum products equipped the Arab company quantity (63 thousand tons) of black oil and (11 thousand tons) gas oil during the three months mentioned fuel to (7) carriers leased by the company Rbia note that the Iraqi Oil Tanker Company profits from the leasing process for months mentioned does not exceed $ 5 million Vqt.anthy 29 / h

 

WOWZERS!!!

 

A FINANCIAL corruption scheme of EPIC Proportions related to the ASSET of Crude OIL of ALL The Bicraqi Iraqi PEOPLE!!!

 

NO Wonder the enactment of the National Oil Company by al-Luabi was FORCED to be rescinded!!!

 

TOO Many Powerful Corruption Players with THEIR hands in the PIE!!!

 

AND.................................................................

 

ALL at the EXPENSE of the Bicraqi Iraqi People!!!

 

MAYBE, BABY, ALL the Bicraqi Iraqi will get ALL upset about THIS AND FORCE the ReEnactment of the National Oil Company to get the Citizenry Bicraqi Iraqi proceeds to fulfill THIS portion of the HCL AND simultaneously favor a ReInstatement of the Bicraqi Iraqi Dinar!!! AND knock out THIS Corruption at the SAME Time!!!

 

              

 

Well, OK, just my conjecture, thoughts, opinion, and  for whatever THAT is worth!!! Hey, I might REALLY be a nut job or somethin"!!! CAVEAT EMPTOR, Reader!!! 

 

In The Mean Time................................................................................

 

The "Standard Disclaimer" Applies!!!!!!!!!!!!!!!!!!!!!................................

 

AND (of course)...................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

   

[10 YEARS LATER]

16 minutes ago, Synopsis said:

 

WOWZERS!!!

 

A FINANCIAL corruption scheme of EPIC Proportions related to the ASSET of Crude OIL of ALL The Bicraqi Iraqi PEOPLE!!!

 

NO Wonder the enactment of the National Oil Company by al-Luabi was FORCED to be rescinded!!!

 

TOO Many Powerful Corruption Players with THEIR hands in the PIE!!!

 

AND.................................................................

 

ALL at the EXPENSE of the Bicraqi Iraqi People!!!

 

MAYBE, BABY, ALL the Bicraqi Iraqi will get ALL upset about THIS AND FORCE the ReEnactment of the National Oil Company to get the Citizenry Bicraqi Iraqi proceeds to fulfill THIS portion of the HCL AND simultaneously favor a ReInstatement of the Bicraqi Iraqi Dinar!!! AND knock out THIS Corruption at the SAME Time!!!

 

              

 

Well, OK, just my conjecture, thoughts, opinion, and  for whatever THAT is worth!!! Hey, I might REALLY be a nut job or somethin"!!! CAVEAT EMPTOR, Reader!!! 

 

In The Mean Time................................................................................

 

The "Standard Disclaimer" Applies!!!!!!!!!!!!!!!!!!!!!................................

 

AND (of course)...................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

   

 

I used to astonished ( a very long time ago ) at the depth of this sort of heinous corruption....now, not phased in the slightest. It’s rampant and global.

 

Have a great weekend “ S “  

[Synopsis]

12 minutes ago, 10 YEARS LATER said:

 

I used to astonished ( a very long time ago ) at the depth of this sort of heinous corruption....now, not phased in the slightest. It’s rampant and global.

 

Have a great weekend “ S “  

 

 !!!10 YEARS LATER!!! 

 

SIR (of course)!!!

 

The Very Best Of Your Weekend To You, SIR, 10 YEARS LATER!!! 

 

Maybe my connect-the-dots is, like, REALLY messed up here but the fact the newly ReActivated Bicraqi Iraqi Oil Tanker Company shipping Crude Oil DIRECTLY INTERNATIONALLY (after being DeActivated 30 YEARS AGO) AND Uncovered PUBLICLY THIS Corruption leads me to gut feel like the Speculative Bicraqi Iraqi Dinar Investment TRAIN is PICKING UP Speed!!!

 

The Financial Corruption RATS are having Fewer AND Fewer places to hide while the Corruption is being exposed and TERMINATED. The Exposure will also be picking up as the INTERNATIONAL switches in one way or another are flipped.

 

SO...............................................................

 

Good News for ALL us Speculative Bicraqi Iraqi Dinar Investment Folks!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

              

 

Well, OK, just my conjecture, thoughts, opinion, and  for whatever THAT is worth!!! Hey, I might REALLY be a nut job or somethin"!!! CAVEAT EMPTOR, Reader!!! 

 

In The Mean Time................................................................................

 

The "Standard Disclaimer" Applies!!!!!!!!!!!!!!!!!!!!!................................

 

AND (of course)...................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

   

 

P.S. Sorry Everybody, I topped out on my stinkin' purple trophy AND emerald counter already so will have to stop by later.

 

Edited January 18, 2019 by Synopsis

[10 YEARS LATER]

1 hour ago, Synopsis said:

 

 !!!10 YEARS LATER!!! 

 

SIR (of course)!!!

 

The Very Best Of Your Weekend To You, SIR, 10 YEARS LATER!!! 

 

Maybe my connect-the-dots is, like, REALLY messed up here but the fact the newly ReActivated Bicraqi Iraqi Oil Tanker Company shipping Crude Oil DIRECTLY INTERNATIONALLY (after being DeActivated 30 YEARS AGO) AND Uncovered PUBLICLY THIS Corruption leads me to gut feel like the Speculative Bicraqi Iraqi Dinar Investment TRAIN is PICKING UP Speed!!!

 

The Financial Corruption RATS are having Fewer AND Fewer places to hide while the Corruption is being exposed and TERMINATED. The Exposure will also be picking up as the INTERNATIONAL switches in one way or another are flipped.

 

SO...............................................................

 

Good News for ALL us Speculative Bicraqi Iraqi Dinar Investment Folks!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

 

              

 

Well, OK, just my conjecture, thoughts, opinion, and  for whatever THAT is worth!!! Hey, I might REALLY be a nut job or somethin"!!! CAVEAT EMPTOR, Reader!!! 

 

In The Mean Time................................................................................

 

The "Standard Disclaimer" Applies!!!!!!!!!!!!!!!!!!!!!................................

 

AND (of course)...................................................................................

 

Go Moola Nova (YEAH AND YEE HAW, BABY, READY WHEN YOU ARE BROTHER (OR SISTER) - LET 'ER BUCK!!!)!!!

   

 

P.S. Sorry Everybody, I topped out on my stinkin' purple trophy AND emerald counter already so will have to stop by later.

 

 

I think your connect the dots is right on. These monkeys just take forever they way inch forwards. They’re getting closer....interesting how dramatic stuff concerning corruption surfaces with increasing regularity just recently.