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Iraq and Kuwait sign oil agreement


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Iraq and Kuwait sign oil agreement

Iraq and Kuwait sign an oil agreement
 

 Twilight News    

 32 minutes ago


Oil Minister Jabbar Ali al-Allaibi said on Thursday that one of the priorities of the ministry in the optimal investment of gas associated with the implementation of liquidation projects and petrochemicals and the development of infrastructure for the distribution of oil derivatives.

The ministry said in a statement to the News Agency that Al-Allaibi met with a delegation of representatives of Al-Arfaj Holding Company, headed by Saud Al-Arfaj. "We are keen to implement investment projects for the construction of refineries inside Iraq to increase the production capacity of oil derivatives and cover and meet the actual need for local consumption."

"The ministry has ambitions and directions for the establishment of refineries outside the country in cooperation with specialized international companies," he said, noting that "the ministry and through the investment projects put forward to compete with international companies aspiring to reach high rates of production of petroleum products up to 2 million barrels per day during the year 2022 ".

On the sidelines of the meeting, the Ministry of Oil represented by the Undersecretary of the Ministry for Liquidation Affairs, Fayad Hassan N'mah, recorded a meeting with Al-Arfaj Company, which included the formation of a coordination committee between the two parties to exchange information on the implementation of projects in the region and the world. For the company's invitation to the Ministry of Oil to contribute to the investment in the construction of an oil refinery in India with a petrochemical complex.

The Undersecretary for Liquidation Affairs said that the ministry has expressed its readiness to enter into investment projects in cooperation with Kuwaiti companies to enhance the volume of cooperation and relations between the two countries and open large areas of investment.


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Information / Baghdad ..

Kuwaiti lawyer Mohammad Dhar al-Otaibi announced on Thursday a Kuwaiti-Iraqi legal partnership to exchange expertise and legal services.

Al-Otaibi said in a statement to Kuwait's Al-Anbaa newspaper that a bilateral agreement was signed with Siraj Legal Justice Company, one of the largest legal centers in Iraq, headed by lawyer lawyer Mohammad Kazem Mal Allah Al-Otaibi. Russia and Britain ".

He added that "after the start of the Kuwait International Conference for the reconstruction of Iraq and the efforts we have seen from our state Kuwait to support and adopt the principle of human reconstruction and development, this has motivated us to participate as a private sector in this support and benefit from legal expertise between the two countries and provide assistance Whether governmental or private sectors. "

 "Through this partnership, awareness will be given to companies and investors from the two countries and legal awareness in all commercial transactions, especially the laws and decisions governing the two countries," Al-Otaibi said. Ending / 25

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Oilsigned with a Kuwaiti company an investment record in the associated gas project and production of methanol
 
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Ministry of Oil logo

  

 energy


Economy News Baghdad:

The Ministry of Oil signed a memorandum of understanding with the delegation of representatives of Al-Arfaj Holding Company in Kuwait on the accompanying gas project and the production of methanol .

The Oil Ministry said in a press statement received by "Economy News" that "Oil Minister Jabbar Luaibi met with a delegation of representatives of the Kuwaiti company Arfaj Holding, headed by Saud Al Arfaj, and during the meeting signed the ministry represented by the Undersecretary of the Ministry of liquidation Fayad Hassan Nima Minutes of a meeting with the company Arfaj included formation A coordinating committee between the two parties to exchange information on the implementation of projects in the region and the world . "

"The report also included the company's desire to invest in the associated gas investment project and the production of methanol, as well as the company's invitation to the Ministry of Oil to contribute to the investment in the construction of an oil refinery in India with a petrochemical complex ."

"According to the statement," one of the Ministry's priorities to optimize the investment of gas associated with the implementation of liquidation projects and petrochemicals and the development of infrastructure for the distribution of oil derivatives . "

He pointed out that "the ministry is keen to implement investment projects for the construction of refineries inside Iraq to increase the production capacity of oil derivatives, and to cover and meet the actual need for domestic consumption. Moreover, the ministry has ambitions and directions for the establishment of refineries abroad in cooperation with specialized international companies .

"The Ministry of Oil and through the investment projects put forward to compete with international companies aspiring to reach high rates of production of oil products up to 2 million barrels per day during the year 2022. "

For his part, the Undersecretary for Liquidation Affairs, said that "the ministry expressed its willingness to enter into investment projects in cooperation with Kuwaiti companies to enhance the volume of cooperation and relations between the two countries and open up broad areas of investment."

http://economy-news.net/content.php?id=11243

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So Kuwait sells there oil at an exchange rate of $3.30 to 1$ and Iraq sells theirs at 1184 to $1 dollar, and they share the port of Faw and buy all their imports at these exchange rates..... hmmmm that’s not confusing is it?! 

 

How bout we just round up and up and make the exchange rate the same for the sake of simplicity :) 

 

what do do you say boys? In the spirit of brotherly love?! 

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27 minutes ago, NEPatriotsFan1 said:

So Kuwait sells there oil at an exchange rate of $3.30 to 1$ and Iraq sells theirs at 1184 to $1 dollar, and they share the port of Faw and buy all their imports at these exchange rates..... hmmmm that’s not confusing is it?! 

 

How bout we just round up and up and make the exchange rate the same for the sake of simplicity :) 

 

what do do you say boys? In the spirit of brotherly love?! 

 

. . . And my wife says I’m complicated-these people don’t know “ simplification “ It must as awkward and convoluted as possible. I always knew these folks would have to be dragged kicking & screaming into the 21st Century. They don’t disappoint do they.:wave:

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49 minutes ago, 10 YEARS LATER said:

 

. . . And my wife says I’m complicated-these people don’t know “ simplification “ It must as awkward and convoluted as possible. I always knew these folks would have to be dragged kicking & screaming into the 21st Century. They don’t disappoint do they.:wave:

They sure don’t unfortunately! 

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5 hours ago, Half Crazy Runner said:

 

I think it was only verbally agreed to before, nothing officially signed. If I remember correctly, there was still a bit of negotiating going on since then. 

You mean quite a bit, remember, these guys are Muslims, they have to have a holiday every other week...

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1 hour ago, Freedomwish said:

 

W, H, I, S, K, E, Y.........I'll be back at the bar tonight from a long break from this lol :facepalm2::drunk::cheesehead:

 

Good to see you Freedomwish  :twothumbs: dust off my seat will ya please :lol: even though we don’t have the RV yet, I’m getting a little parched  :drunk:

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12 hours ago, NEPatriotsFan1 said:

So Kuwait sells there oil at an exchange rate of $3.30 to 1$ and Iraq sells theirs at 1184 to $1 dollar, and they share the port of Faw and buy all their imports at these exchange rates..... hmmmm that’s not confusing is it?! 

 

So Kuwait buys at $.00086 and sells for $3.30.  That's one heck of a profit.  Tell me who the dummies are.  :lmao:  Wait I guess that is a rhetorical statement.  :lmao:

 

SR

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