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Iraq confirms not to rely on Iran in the main energy field


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35 minutes ago, trident said:

And IRAQ doesn't use its own gas...because???

They don't have the technology as of yet to use the gas. Iraq probably flares off enough natural gas everyday to run it's power plants. Until they can get rid of a few more of these crooks running the country they will never have any type of modern infrastructure. They keep talking about it but would rather line their own pockets than help build the country...

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Side of the meeting
  

 energy


Economy News Baghdad

The Minister of Electricity Luay Khatib, on Friday, the re-evaluation of private sector companies concluded with service contracts and collection, threatening those who bypass power lines to take action against them.

Khatib said during his meeting with officials of the distribution and transmission of electric power in the Middle Euphrates region, according to a statement seen by "economy News", that "there is no red line for those who exceed the electricity distribution networks," threatening to "expose those who stand in the way.

Khatib added that "we are working to build a strong Iraqi economy," noting that "the failures that occur should be held accountable by all officials from the public and private sector to the regulatory bodies."

The minister pointed out, according to the statement, to "re-evaluate the private sector companies with which the ministry concluded service contracts and collection in preparation for the exclusion of inefficient companies and the dissolution of contracts."

Al-Khatib stressed on the completion of the database of the Ministry's stores, especially for the sectors of distribution and transmission of electric power in order to stand on the ministry's materials in its stores in all governorates of the country through electronic input. The completion will be at the end of this year. Power consumption and control of sales. "


Views 7   Date Added 11/09/2018

 
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  • yota691 changed the title to Siemens chief German: Trump denied us the deal of electricity Iraq

Siemens chief German: Trump denied us the deal of electricity Iraq

11:34 - 08/11/2018

 
image
 
 

Following the merger of Mawazine News  
, Siemens chief executive Joe Keizer revealed that Trump played a role in trying to block the German company's agreement with the Iraqi government and push for the full deal to be awarded to US General Electric. 
In an exclusive interview with Deutsche Welle on Thursday, Kaiser said that US President Donald Trump had put great pressure on Iraqis to give US General Electric a deal to develop the electricity sector in Iraq. 
He pointed out that the German company recently signed a memorandum of understanding to develop the electricity sector in Iraq.
"It is clear that there are extraordinary forces involved in the deal," he said. "Siemens has enormous power in the United States, employing 60,000 people and indirectly creating another 150,000. So we are also an American company, and I think we deserve it. Respect and equality in the workplace ". 
The agreement was signed on the Iraqi side by Minister of Electricity Qassem Mohammed Al-Fahdawi and Siemens Chairman Joe Keizer, who then chanted: "This is a milestone on the new Iraq road, where we signed an agreement of understanding with the Iraqi government to explore how to implement the roadmap. To every home, job creation, health care, skills development and more. "Our commitment to the Iraqi people has not diminished." 
Earlier, the Iraqi Electricity Ministry announced two separate agreements with Siemens and GE to develop the country's electric power sector. 
The agreement aims to solve the electricity crisis in Iraq through contracts and agreements that will be developed later with the aim of rehabilitating generating units and converting others into complex cycles, as well as the processing of new generation plants for the production of electric power and other transformational stations of different capacities in selected sites, . 
Iraq's electricity production and distribution sector has been plagued by major problems for more than 15 years. 
The exports of Germany, Europe's biggest economy, were affected by the trade war and trapping of Trump. Exports fell unexpectedly in September, with a weak end for the third quarter, which saw an economic recession for the first time in almost three years. 
is over
 M 

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An Iranian official commenting on the Saudi offer to supply Iraq with electricity

19112018134716eliktirik.jpg

 

Power plant in southern Iraq

43 minutes ago

3051 views

+ -

Digital Media NRT

 An official said Iran could not take its country's place in supplying Iraq with energy, commenting on Saudi offers to supply Iraq with electricity instead of Iran .

The news agency "news Fares" Deputy Chairman of the Iranian Electricity Union Biam Baqri, saying in a press statement, on Sunday, November 18, 2018, that Saudi Arabia can not take the status of Iran in the export of electricity to Iraq, "Can Iraq to replace Saudi Arabia with Iran to buy electricity , That Iraq is solving the problem of electricity shortage drastically because this country solved this problem temporarily through Turkey by mobile stations on the ships to supply Basra with 350 MW, and on this basis can not solve the problem of electricity shortage in Iraq permanently and root, where needs about 10 thousand MW " .

"Iraq can not provide electricity within 45 days," he said. "Experts know very well that if Iraq wants to solve the electricity problem radically and permanently, it has to secure electricity from other countries such as Saudi Arabia, which is a serious competitor to Iran in the field of electricity, Long .

"Saudi Arabia claims to be a major energy hub, so one of the most important markets for Saudi Arabia to become a major energy hub is Iraq, because it needs 10,000 megawatts. Saudi Arabia has made huge investments to attract investors to build power plants in its own country," he said . 
"Saudi Arabia has always been a serious competitor to Iran to become a major energy center because Saudi Arabia has huge projects so that the Gulf Cooperation Council states are connected to the electricity grid. If that happens, Iraq has an option to link to this network," he said .

Baqeri said that Iraq's attempt to solve the electricity problem within 45 days is a showcase attempt to replace Saudi Arabia with Iran in the import of electricity, because solving the problem of electricity in Iraq despite the relations between Iran and Iraq can not be solved alone because Iraq's electricity needs are very high .

He pointed out that the need for 10 thousand megawatts in Iraq requires a plan and infrastructure more serious, and need to identify projects that will solve the problem of power cuts permanently and radically .

The US Treasury Department has given Iraq earlier, 45 days to replace the import of electricity from Iran, and look for another country during this period of time to supply electricity from it .

R.

http://www.nrttv.com/AR/News.aspx?id=6596&MapID=2

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  • yota691 changed the title to Electricity Evaluation of service contracts and collection companies and threaten the transgressors

The Minister of Electricity directs the Office of the Inspector-General to investigate the Wall Street Journal report

10:33 - 19/11/2018

 
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Baghdad Mawazine News

Minister of Electricity Louay Khatib on Monday directed the Office of the Inspector-General to investigate the controversial Wall Street Journal report, which spoke of a corrupt environment and corruption and bribes at the Ministry of Electricity, which are real concerns for General Electric. 
"In response to the report published in the Wall Street Journal, we directed the Office of the Inspector-General of the Ministry to investigate what he said," Khatib said in a tweet on Monday. 
"The ministry's vision for the next phase depends on two basic factors of equal importance, namely efficiency in providing services and integrity in work," Khatib said. 
The Wall Street Journal on Tuesday reported corruption reports from Iraq's electricity ministry and some businessmen that could threaten US General Electric's contract to develop electricity in Iraq.
According to a confidential report prepared by a consulting and intelligence company (Hakluyat and Co), the "GA" published by the newspaper and followed by "Mawazine News," that "corruption reports in the Iraqi Ministry of Electricity and some businessmen, threatening to contract the US company for the development of electricity in Iraq "Noting that" corruption exists in the Ministry of Electricity since 2004, and that any contract does not pass only a certain commission. " 
"The report, a survey conducted by GE last summer, is prepared by meetings with senior officials of the Iraqi Ministry of Electricity and businessmen working in the electricity sector," the paper said. 
"The report was originally prepared in the spring of 2018 after reports from the US Justice Department that there were suspicions of corruption on the employees of the company GE of the energy sector in Iraq."
"The company learned of the existence of a person who exposed these suspicions after the Foreign Ministry and the Ministry of Commerce and other agencies cut its support for the company, but the US Embassy in Iraq decided to support the company after the approval of an investigation suspicions of corruption." 
"These reports will have a big impact on General Electric, especially the energy sector, which is the company's oldest and most vulnerable sector, which wants to sell up to $ 22 billion in revenue," she said. 
General Electric said, "It has not broken any law and has not dealt with corrupt / corrupt individuals / institutions ... and it has strict and strict laws that investigate everything and with all employees (outside / inside)." According to the newspaper. 
Ended 
m h n

201911201866.jpg

 
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Deputy: Stop the work of the decisions of the government of Abadi to terminate the contract with the American General Electric Company

16:50 - 21/11/2018
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Information / Special ...

The MP of the alliance of Abbas Abbas Aliawi, Wednesday, that the parliament's vote to suspend the work of former Prime Minister Haider Abadi during the caretaker government include the dissolution of power contracts concluded with the General Electric Company of America.

"All the decisions that were taken by Abadi and his government during the period of the conduct of business since July 1 until the end of its tasks are covered by the decision of the House of Representatives to suspend and reconsider," Aliawi said in a statement. Has been suspended, awarded power supply contracts to GE. "

He added that "the new Minister of Electricity Loay Khatib is determined to reconsider the award of contracts for the processing of electricity to the General Electric Company in cooperation with the US Energy Commission," noting that "Electric carries a lot of suspicions of corruption and it is hoped to cancel the contract with them during the next phase."

A member of the Finance Committee of Parliament, Haneen al-Qaddu has revealed on Tuesday the request of the Committee of Ministers of Electricity and Finance to provide evidence on corruption deals in their ministry during the last period, indicating that the Parliament intends to hold accountable all corrupt, especially those involved in corruption deals with General Electric.

On Monday, the Wall Street Journal revealed new "corruption scandals" concerning GE's work and its dealings with the Ministry of Electricity, while Minister Loay Khatib opened an investigation into the information in the paper.

The House of Representatives voted Wednesday to suspend Abadi and his government from July 1 until the end of its mandate.

https://www.almaalomah.com/2018/11/21/366434/

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  • yota691 changed the title to "Iraqi Trade" sign a financing agreement with 600 million dollars for an electricity project

"Iraqi Trade" sign a financing agreement with 600 million dollars for an electricity project

"Iraqi Trade" sign a financing agreement with 600 million dollars for an electricity project
One of the branches of the Iraqi Commercial Bank
 25 November 2018 12:16 PM

 

Mubasher: The Iraqi Trade Bank, Standard Chartered and General Electric signed an agreement to finance an electricity production project in Iraq.

The bank said in a statement that the three parties had closed the deal, worth $ 600 million.

The project has a capacity of more than 2 gigawatts and the project is part of Iraq's reconstruction and development plan.

The Iraqi government is seeking to meet the state's electricity needs, and has recently received an exception from US sanctions to continue to buy energy from Iran.

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Iraq bank, Stanchart, GE close $600m power finance deal

DUBAI, 4 hours, 12 minutes ago

 

Trade Bank of Iraq (TBI), Standard Chartered Bank and General Electric have jointly closed a $600 million financing agreement that funded an ambitious electricity project 'Power Up Plan' implemented across Iraq.

The government’s ‘Power up Plan’ comes as a major part of the country’s ongoing rebuilding and modernisation plans, said a statement from TBI.

Being implemented in two phases, the project is aimed at delivering and securing more than 2 gigawatts (GW) of new power, while ensuring the continuity of up to 6.7 GW to Iraq's grid, supplying much-need electricity to homes and businesses nationwide.

The financing arrangement is the largest bespoke Letter of Credit (LC) confirmation and discounting transaction of its kind in the region, said a statement from TBI.

The bank was established in 2003 with the aim of helping the reconstruction of Iraq by facilitating international trade and continues to be at the forefront of large-scale infrastructure developments across the country.

The institution’s financial network and expertise play a significant role in sourcing and securing funding for projects that will benefit the Iraqi people for generations to come.

Faisal Al Haimus, the chairman and president, said: "An efficient, modern, secure, and reliable power network is the foundation on which the country’s long-term development and prosperity will be built. The financing supported as part of this latest round with our partners at GE and Standard Chartered Bank will play a major role in creating a brighter future for the Iraqi people."

"Trade Bank of Iraq will work closely with our partners to ensure the agreements set out will help to drive forward this essential project and support the well-being of people, communities, and businesses nationwide," stated Al Haimus.

The agreement further underscores the crucial financial history and positive relationship that exists among the three institutions, he added.

For Standard Chartered, the agreement also manifests its newly introduced sustainability philosophy, as such finance will help enable individuals’ businesses to thrive and grow, and governments to deliver economic prosperity for the wider community; supporting sustainable and responsible growth.

Rola Abu Manneh, CEO for Standard Chartered Bank UAE, said: “We are delighted to once again be partnering and collaborating with our colleagues at Trade Bank of Iraq and General Electric on a landmark deal, in Iraq.”
 
“This pioneering partnership will be key to facilitating and improving the power and electricity across the country. We are very proud and delighted to have structured and delivered such a trade financing solution in one of our network locations," she stated.

"This deal further demonstrates Standard Chartered’s core strength of seamlessly leveraging its global network and deep local expertise across Asia, Africa and the Middle East," she added.

GE has supported the development of essential energy, healthcare and transportation infrastructure in Iraq for over 50 years. The current agreement is an important part of the company’s commitment to contributing towards the country’s rebuilding efforts to the benefit of families, businesses and industries across Iraq.

Yoshito Murakami, CFO of GE’s Power Services business in Africa, India and the Middle East, said: "General Electric has a long and successful history of supporting major developments throughout the Middle East and we are honoured to collaborate with Standard Chartered Bank and Trade Bank of Iraq to be part of this vital infrastructure project that will bring power to homes and businesses across the country."

"Iraq is currently undergoing a period of significant redevelopment as it moves towards a more stable and secure future. GE is committed to continue working with its partners and customers across the region to be at the forefront of plans that will bring progress to the people of Iraq," stated Murakami.-TradeArabia News Service

http://www.tradearabia.com/news/OGN_347982.html

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57 minutes ago, SocalDinar said:

"This deal further demonstrates Standard Chartered’s core strength of seamlessly leveraging its global network and deep local expertise across Asia, Africa and the Middle East," she added.

 

Maybe some one could help me out here.

 

This seems to be a run of the mill generally inane announcement of daily and normal dealings of the Bicraqi Iraqi.

 

To me, the key entities noted are the Trade Bank Of Iraq and Standard Chartered Bank.

 

I am used to thinking of Standard Chartered Bank as being an INTERNATIONAL BANKING ENTITY associated with SWIFT as one of the services offered. For money transfers INTERNATIONALLY, the money would HAVE TO BE transferred through SWIFT via Standard Chartered Bank. This SEEMS to indicate the Bicraqi Iraqi have, to possibly a small degree, moved to an “open economy” and will move so increasingly.

 

I am likely way, way off my nut case rocker today so any reality You ALL offer is GREATLY appreciated.

 

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

 

Go Moola Nova!

:pirateship:

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Iraq 's economy closes $ 600 million electricity project

Iraq closes electricity project worth $ 600 million

 

 Twilight News    

 Sunday, 25 November 2018

The Iraqi Trade Bank, Standard Chartered and General Electric said on Sunday they had closed a $ 600 million financing deal for an electricity project in Iraq, a statement said.

"The project capacity exceeds 2 gigawatts," the statement said, noting that "it comes within the framework of an Iraqi plan for reconstruction and development."

The Iraqi government has been widely criticized for its inability to repair the country's electricity, despite 15 years of regime change in Iraq, amid accusations by powerful parties of corruption and control over electricity contracts.


Keywords: 

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US pressure and popular protests are pushing Iraq to "drastic reforms" in the electricity sector

Wednesday 28 November 2018
article image
Baghdad - Nas
 

Amid US pressure to prevent the import of Iranian energy and the weight of the popular summer protests over a chronic power outage, Iraq, one of the freest countries in the world, is seeking long-awaited reforms, according to AFP.

With the formation of a new government, the Ministry of Electricity is considering several options, including restoring stations and pipelines to reduce waste, importing energy from other countries, and improving the collection process to boost revenues.

Baghdad hopes to provide enough megawatts to cover the needs by summer, when millions are affected by power outages of more than 20 hours a day.

But that does not mean that time is open. There is a deadline before things get worse.

To protect its electricity sector, Iraq received a 45-day exemption from US sanctions imposed in November on Iran's nuclear program.

Thus, the 45-day period is the time limit for Baghdad to set a road map to cancel its full dependence on the use of Iranian electricity and gas.

Iraq imports up to 28 million cubic meters of natural gas from Tehran to its factories and directly buys 1,300 megawatts of Iranian electricity.

Thus, the Ministry of Electricity has set a plan for independence from Iranian electricity within 18 months, and solved some of the problems accumulated a decade ago, according to ministry spokesman Musab al-Mudaras.

"Within two weeks, we will present our plan to the Americans. The plan is for five years and will be evaluated annually from the American side. "

"If the Americans find the plan integrated and serious," he said, "the period could be extended (45 days) to one or two years. There are no immediate, quick fixes. "

Iraq is floating on 153 billion barrels of crude oil reserves, but it needs higher quality gas and fuel to run power plants.

The teacher admits that if Iraq can dispense with Iranian electricity, it needs Tehran gas until it has the ability to extract its gas or invest gas burned during the extraction of oil.

Brilliant ideas

By using its fuel alongside Iranian gas, Iraq could produce about 16,000 megawatts of electricity.

This is far less than the need, which starts at about 24,000 MW and reaches 30,000 in the summer, with temperatures reaching 50 ° C.

Most of the shortage is technical. Iraq, when it transfers energy, is lost between 30 and 50 percent of it with poor infrastructure, according to the Iraqi Energy Institute.

Some of them are outdated, but there are lines, pipelines and stations that have also been attacked by the Islamic State Organization, which was defeated by the Iraqi security forces at the end of 2017.

The teacher refers to the MoU signed with Siemens ($ 10 billion) and General Electric ($ 15 billion) to improve infrastructure.

That could add up to 24,000 megawatts in five years, "and we could get that to 40,000 megawatts," the spokesman said.

The new electricity minister, Louay Khatib of Siemens and General Electric, has asked for a "fast track" to boost power generation by summer.

Baghdad is looking for ways to fund such efforts, including a $ 600 million financing deal between General Electric, the Iraqi Trade Bank and Standard Chartered, announced at the end of November.

The teacher pointed to another ministerial initiative, including the replacement of Iranian energy imports from other neighboring countries, including 300 MW from Turkey, Jordan and Kuwait, in addition to Saudi solar energy.

In a glimmer of hope for the success of the plan, President Barham Saleh toured Amman, Kuwait and Riyadh in the first regional tour since his election.

In addition, Baghdad is seeking to recover the money it lost as a result of the ministry's weak collection service.

"We have a 60 per cent chance, if we reduce these rumors, we will be cut off from Iranian lines," the teacher says.

"Doomed to failure"?

Iraq began last year a privatization process by contracting with companies that offer the collection service to ensure the collection of electricity bills.

Samir Hussein, a 20-year-old distribution department official at the Ministry of Electricity, says the privatization process has already cut power cuts in Baghdad.

"Those who pay, cut their use by half, which allows me to redirect the megawatts to other neighborhoods and avoid cutting," Hussein said.

But there are still obstacles, including Iran's late bills on previous imports.

The draft budget for 2019 that Iraq allocated about 800 million dollars "for the amount of Iranian gas arrears" and about 350 million dollars for cash payment of Iranian electricity, according to the Iraqi Energy Institute.

Another problem is that Iraq's electricity ministry is overflowing, says energy expert Harry Stepanian.

For example, neighboring Kuwait generates electricity similar to Iraq, but its ministry employs 12,000, compared with 140,000 in Iraq.

The ministry has also been accused of corruption on a large scale, and Khatib has vowed to investigate.

"Everything that the minister is planning is doomed to failure if there is no reform," he told Agence France-Presse.

 

 

Edited by Butifldrm
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  • yota691 changed the title to Iraq plans to provide a plan for the removal of Iranian electricity to Washington
 
11500.jpg
 
  

 energy


Economy News _ Baghdad

The Iraqi Ministry of Electricity has set a plan for the independence of Iranian electricity in a year and a half, while the government plans to submit it to the US side for a new deadline for US sanctions, the Press Agency reported on Thursday. 
"In the midst of American pressure to prevent the import of Iranian energy and the weight of the popular summer protests for chronic power cuts, Iraq, one of the world's hottest countries, is seeking long-awaited reforms," the agency said in a report. The Ministry of Electricity several options, including the restoration of stations and lines to reduce waste, and the import of energy from other countries, and improve the process of collection to enhance revenue.
"Baghdad hopes Baghdad will provide enough megawatts to cover the needs by the summer, when millions are affected by power outages of more than 20 hours a day, but that does not mean that the time is open, there is a deadline before things get worse. Iraq is exempt from 45 days of sanctions imposed by the United States in November on Iran in the file of its nuclear program. " 
"The Ministry of Electricity has now set a plan for independence from the government, Iranian electricity in 18 months, and solved some of the problems accumulated a decade ago. "
"Within two weeks, we will present our plan to the Americans, the plan is for five years and will be evaluated annually from the American side," the teacher said. 
"If the Americans find that the plan is integrated and serious, it is possible to extend the period (45 days) to a year or two," he explained, adding that "there are no immediate solutions quick." 
Iraq is on 153 billion barrels of crude oil reserves, but needs higher-quality gas and fuel to run its power plants. 
The teacher acknowledged that "if Iraq can dispense with Iranian electricity, it needs Tehran gas until it has the ability to extract gas or invest gas burned during the extraction of oil."
According to the agency, "using its fuel alongside Iranian gas, Iraq can produce about 16 thousand megawatts of electricity, which is much less than the need, which starts at about 24 thousand megawatts, up to 30 thousand in summer, with temperatures reaching 50 degrees percentage". 
"Most of this shortage is technical. As Iraq transfers energy, between 30 and 50 percent of it is lost in poor infrastructure, some of which are outdated, and there are pipelines, pipelines and stations that have also been attacked by an organization calling for the rehabilitation of those infrastructure, is based in the Ministry of Electricity plan. 
He pointed out the teacher, to "memoranda of understanding , which were signed by the ministry with Siemens ($ 10 billion), and General electric ($ 15 billion), to improve the infrastructure." 
so can add up to 24 thousand MW in five years, and "we can get to 40 thousand megawatts," according to the same spokesman.
The new electricity minister, Louay Khatib, has asked Siemens and General Electric to plan "fast track" to boost power generation by summer. 
Baghdad is looking for ways to fund such efforts, including a $ 600 million financing deal between General Electric, the Iraqi Trade Bank and Standard Chartered, announced at the end of November. 
"Another ministerial initiative involves the replacement of Iranian energy with imports from other neighboring countries, including 300 MW from Turkey, Jordan and Kuwait, as well as Saudi solar energy," he said. 
In a glimmer of hope for the success of the plan, Iraqi President Barham Salih toured Amman, Kuwait and Riyadh in his first regional tour since his election. 
"In addition, Baghdad seeks to recover the money lost by the ministry's weak collection service."
"We have a 60 per cent chance that if we reduce these rumors, we will be free of Iranian lines," the teacher says. 
Iraq began last year a privatization process by contracting with companies that offer the collection service to ensure the collection of electricity bills. 
"The process of privatizing the collection has actually reduced the power cuts in Baghdad," Samir Hussein, an employee of the distribution department at the Ministry of Electricity, said 20 years ago, noting that "those who pay, reduce their use by half, which allows To redirect the ligaments to other neighborhoods and avoid cutting operations. " 
The draft budget for 2019 that Iraq allocated about 800 million dollars "for the amount of Iranian gas arrears" and about 350 million dollars for cash payment of Iranian electricity, according to the Iraqi Energy Institute. 
"Another problem," says energy expert Harry Stepanian,
He pointed out that "neighboring Kuwait generates a similar amount of electricity to Iraq, but its ministry employs 12 thousand compared with 140 thousand in Iraq." 
"Everything planned by the minister is doomed to failure if there is no reform," he told AFP.


Views 254   Date Added 29/11/2018

 
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On 11/8/2018 at 8:54 AM, 10 YEARS LATER said:

 

Precisely - :tiphat:to busy flaring off that gas .... but, help us we need $$$$ etc. etc. The technology is not so new they couldn’t have started construction years ago building pipelines to Nat. Gas processing plants. 

Corruption has its own agenda.

 

Moving to their own fuel resources would be a huge shift on their balance sheets. 

 

Funny thing is, it's almost like flipping a switch... you are correct, the technology isn't new and this wouldn't be a big step for them. But the second they do it, they suddenly become entirely self sufficient and a major player in the global picture.

 

Imagine your credit score going from 500 to 800 overnight and your income going from poverty to 300,000 per year, as an individual. Suddenly you are no longer eligible for government assistance, and you're able to make major purchases with your "new" leverage.

 

This is Iraq. :twocents: 

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1 hour ago, Adam Montana said:

 

Moving to their own fuel resources would be a huge shift on their balance sheets. 

 

Funny thing is, it's almost like flipping a switch... you are correct, the technology isn't new and this wouldn't be a big step for them. But the second they do it, they suddenly become entirely self sufficient and a major player in the global picture.

 

Imagine your credit score going from 500 to 800 overnight and your income going from poverty to 300,000 per year, as an individual. Suddenly you are no longer eligible for government assistance, and you're able to make major purchases with your "new" leverage.

 

This is Iraq. :twocents: 

That's us, too, baby in the US of A. Many of us have been waiting for this RV for over 10 years or more and are having to eat cat food to survive. Hope they do it and get off the pot soon. Cat food doesn't taste very good. 

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Iraq could see new revenues from its troubled power sector, but bureaucracy remains a major hurdle, executives say

  • Iraq may be on the cusp of a revenue windfall after losing billions of dollars annually due of its insufficient oil production facilities, according to investors.
  • Development goals include capturing gas flares, or the gas burned off during oil production, to convert into usable energy and which Siemens estimates could save Iraq $5.2 billion over the next four years.
  • Working with Iraq’s electricity ministry, multinational energy and industrial companies have major plans to turn the sector around — though they say a slow-moving bureaucracy gets in the way.
Published 7 Hours Ago  Updated 6 Hours AgoCNBC.com
     
     
     
     
     
Flames rise from the burning of excess hydrocarbons at the Hammar Mushrif new Degassing Station Facilities site inside the Zubair oil and gas field.
HAIDAR MOHAMMED ALI | AFP | Getty Images
Flames rise from the burning of excess hydrocarbons at the Hammar Mushrif new Degassing Station Facilities site inside the Zubair oil and gas field.

 

Iraq may be on the cusp of a revenue windfall after losing billions of dollars annually due to its insufficient oil production facilities, according to investors.

International energy executives have been clinching new contracts to develop the hydrocarbon-rich country's energy sector that, despite being OPEC's second-largest producer, has failed to solve domestic poverty and infrastructure woes.

 

But foreign investors admit that lofty development goals continue to be hindered by sluggish administration, corruption and a wall of bureaucracy.

"The administrative decision-making process takes so long, it takes a lot of resources to be there and support during those fallow periods," said Robert Helme, head of business development at technical services provider Wood, which has multi-million dollar contracts with the Iraqi government.

Other executives noted it takes up to eight weeks for employees to get visas to enter the country.

Jean-Claude Nasr, senior vice president at Siemens Power & Gas, stressed the need for "faster decision making process and transparency — from the electricity sector this has to be made by yesterday, at least on the short-term scale."

Development goals include capturing gas flares, or the gas burned off during oil production, to convert into usable energy and which Siemens estimates could save Iraq $5.2 billion over the next four years. Previous inability to capture this excess natural gas due to the war-weary country's underdeveloped infrastructure has amounted to billions of dollars in lost revenue per year.

Working with Iraq's electricity ministry, multinational energy and industrial companies have major plans to turn the sector around — something that will be critical for post-war reconstruction, the funding of which the World Bank estimates will require up to $150 billion.

Multi-billion dollar contracts

Executives from Shell, BP, Chevron, Siemens and General Electric (GE), among others, gathered in Dubai on Sunday to present their plans for the country's energy and infrastructure sectors. The conference, organized by the Iraqi British Business Council (IBBC), focused on the private sector's role in rebuilding and investing in the country of 38 million, one year on from the defeat of the Islamic State group in Iraq.

At the helm of major energy investments is GE, which in October beat out German manufacturer Siemens in a hotly contested competition for a massive 14 gigawatt (GW) power generation contract worth a reported $15 billion. Siemens inked its own agreement to provide a separate 11 GW to Iraq's power infrastructure.

Russell Stokes, CEO of GE Power said of the deal, "We are honored to support the government's focus on rebuilding Iraq… We understand how important it is to deliver power immediately." The venture is expected to create up to 65,000 direct and indirect jobs and generate savings of up to $3 billion per year.

GE's first wave of gas flare capturing in 2017 has already successfully added 400 megawatts to Iraq's electricity grid. But in a country where frequent and prolonged power outages have led to violent protests, there is little time to lose.

No time to lose

Iraq's urgent need for improved energy efficiency is manifold. "The country currently has 15.6 gigawatts (GW) of power available on its grid, while national demand is at 25.2 GW and expected to grow by 6 percent per year," Seimens' Nasr said.

Over the summer, Iraq failed to pay its power bill to Iran, on whom it depends for some 40 percent of its electricity. This prompted Tehran to cut the power off and led to widespread protests in the country's south, particularly in poverty-stricken Basra, where government buildings and the consulates of Iran and the U.S. were attacked.

Iraq's efforts to rebuild depend heavily on security and stability within its fragile democracy, country experts agree — something that will remain at risk without reliable power.

https://www.cnbc.com/2018/11/29/iraq-could-see-new-revenues-from-its-troubled-power-sector-but-bureaucracy-remains-a-major-hurdle-executives-say.html

 

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Iraq's Basra Gas Co output to increase 17 percent by end-2018: ministry

 

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BAGHDAD (Reuters) - Output from Iraq’s Basra Gas Company (BGC) is expected to reach 1,050 million standard cubic feet per day (mcf/d) by the end of 2018, an increase of 150 million mcf/d from current levels, the oil ministry said in a statement on Thursday.

 
 
A general view of the gas field in Basra , Iraq, August 26, 2017. REUTERS/Essam Al-Sudani

Iraq’s gas development plans have long focused on BGC, a $17 billion joint venture between Royal Dutch Shell, state-run South Gas Company and Mitsubishi. 

The Basra gas project is seeking to reach a targeted level of capturing and processing 2,000 mcf/d, the statement said.

The project was designed to aggregate gas from fields in the south including West Qurna 1, operated by Exxon Mobil Corp, Zubair, operated by Italy’s Eni, and Rumaila, developed by BP.

To boost power generation, a deal has been reached with the electricity ministry to allow General Electric and Siemens to install liquefied natural gas-operated mobile power units at some small southern fields, Iraq’s deputy oil minister told the al-Sabah state newspaper.

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The mobile power units will help Iraq process gas from small fields that could reach up to 15 (mcf/d) to feed the country’s power grid, Hamid al-Zobaie said.

In October 21, Iraq signed agreements with General Electric and Siemens to develop the country’s power infrastructure.

Zobaie did not elaborate on when the work could start to install the mobile power units or give any details on the small southern fields.

Iraq relies heavily on Iranian gas to feed its power stations.

The United States said earlier this month that Iraq can continue to import natural gas and energy supplies from Iran for a period of 45 days, as long as Iraq does not pay Iran in U.S. dollars. U.S. sanctions on Tehran’s oil sector took effect on Nov. 5.

Iraqi government officials said last month it will not be possible to stop imports of Iranian gas for now and the government needed more time to find an alternative source.

“The mobile power units will help cut Iranian electricity imports but not to stop it. Iraq will remain dependent on Iranian electricity for at least two more years,” said a senior government official and a member of Iraq’s ministerial energy committee.

 

https://www.reuters.com/article/us-iraq-gas/iraqs-basra-gas-co-output-to-increase-17-percent-by-end-2018-ministry-idUSKCN1NY1AA?rpc=401&

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  • yota691 changed the title to Siemens: We look forward to starting the road map in Iraq soon
 
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Musab Khatib, CEO of Siemens in Iraq
  

 energy


Economy News Baghdad

The chief executive of Siemens AG in Iraq, Musab al-Khatib, said the company is looking forward to starting the roadmap in Iraq soon.

In a statement, Al-Khatib said in a statement that "the road map is not a project, but several strategic electric projects to solve the problems of electric power in Iraq," noting that it "consists of three short-medium-long ranges, In the field of electricity. "

He pointed out that "the former Iraqi government headed by Haider al-Abadi and the current headed by Adel Abdul-Mahdi welcomed the plan (the roadmap to Siemens Electric)," noting that "his company is discussing the road map with the new government and its findings with the previous government."

It is clear that "we will adopt the road map in achieving this on four pillars of energy and education and the fight against corruption and funding, which means that the Iraqi citizen at the heart of this plan and even represents its driving force."

Siemens is embracing its "Road Map for the Electricity Sector in New Iraq" plan by adding 11 kW of new generation capacity to the local power grid over a four-year period.


Views 102   Date Added 06/12/2018

 
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  • yota691 changed the title to GE is announcing in detail its plan to resolve the biggest crisis in Iraq

GE is announcing in detail its plan to resolve the biggest crisis in Iraq

GE is announcing in detail its plan to resolve the biggest crisis in Iraq



 Twilight News    
 2 hours ago

(MENAFN Press) GE Electric has presented a series of solutions to address the challenges facing the Iraqi electricity sector during its participation in the "Iraq Leap Forward" conference held today in Baghdad. The conference was attended by 400 senior government officials, representatives of international financial institutions, multinational corporations and others.
During the conference, GE reviewed a comprehensive plan of action for the deployment of fast and well-thought-out power generation technologies, improvements to existing power plants to provide the grid with an additional 1.5 gigawatts of power by 2019, and maintenance and rehabilitation services To ensure continuous power output at current generation plants. In addition, the plan provides for the necessary improvements and services to existing generation plants and the conversion of simple cycle power stations to the combined cycle system, allowing for the provision of new electric power without the need for additional fuel consumption or causing further emissions; A combination of unique solutions to integrate and capture flammable gas and power generation using state-of-the-art gas-to-energy conversion technologies. General Electric also plans to develop substations and extend air lines in the country.
General Electric employs up to 300 employees in Iraq, with three offices in the country - in Baghdad, Basra and Erbil. GE and its partners today provide the power to operate more than 90% of Iraqi Airways aircraft, and the company's technology contributes up to 55% of the country's current electricity production. About 4,000 GE Healthcare products are deployed in hospitals and clinics across the country.

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On 11/29/2018 at 3:56 AM, Adam Montana said:

 

Moving to their own fuel resources would be a huge shift on their balance sheets. 

 

Funny thing is, it's almost like flipping a switch... you are correct, the technology isn't new and this wouldn't be a big step for them. But the second they do it, they suddenly become entirely self sufficient and a major player in the global picture.

 

Imagine your credit score going from 500 to 800 overnight and your income going from poverty to 300,000 per year, as an individual. Suddenly you are no longer eligible for government assistance, and you're able to make major purchases with your "new" leverage.

 

This is Iraq. :twocents: 

Just makes me wonder who is receiving commission checks from Iran for the current ongoing sale of the gas.

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On 11/26/2018 at 8:14 AM, Sage449 said:

GE and not the Germans, quite a coup. 

Yeah Sir. And what did the Germans do ? Cry like little babies . Really not to big a surprise though. Remember how they complained when POTUS Trump called them out over the US paying for and providing Germany's national defense. Protecting them from the imperialistic terrible Russians. All while the Germans were doing a $800,000,000 oil pipline deal with the Russians to supply Germany with oil. 

Giving the Russians money which they could then spend in trying to undermine or over throw the German government. All while making the German economy dependent on the Russian oil. How come they didn't know that the US could provide them oil at a better price? Or Iraqi oil at a better price? Don't they have experienced Economists ? Trump does not mind competition, but he consistently and openly is for the American position on all matters first. Man that is a nice thing. Almost makes waiting for the RV not so bad. Nnot really, I could use the RV like now. 

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With this big award to GE of this contract one has to wonder about the motivation. 

 

GE was an institutional business for a very long time....now the net value of GE is a negative $31 billion....they have a bond grading one level above junk......In some circles it is believed that like the AIG failure was the catalyst for last financial crash....GE will be the catalyst for the next one......

 

The award of this contract to GE is the equivalent of a bail out by the USGOV....

 

A concern would be a financial failure of GE mid stream during this project.....I believe it could be harmful to Iraq......and as large as the contract is, GE is in such a deep hole.....there may be no saving them.....

 

Kind of makes me wonder what is really going on in the States with these historically important and long time successful businesses going away......Sears is another that comes to mind....

 

I hope this works out for GE   and Iraq......the World and all of us.....as the financial well being of all is sitting on a razor's edge financially...IMO... and any small catalyst could topple the house of cards....which is another good reason to be looking for a currency reform world wide....it's nonsensical to think GE will be paid in IQD at the current value.....

 

What ever the plans of the PTB.....I hope they don't get to cure and let everything implode while waiting for the perfect moment.....

 

Thanks for allowing me to ramble.......CL

 

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  • yota691 changed the title to Iraq confirms not to rely on Iran in the main energy field
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