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The Chinese agreement returns to the fore .. How will it save Iraq’s “gold bullion” from the collapse of oil?


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The Chinese agreement returns to the fore .. How will it save Iraq’s “gold bullion” from the collapse of oil?

04/30/2020
 
  
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Information / Baghdad ..
Adviser to the Prime Minister Abdel-Hussein Al-Hanin confirmed Thursday that the Iraq- China agreement was carefully designed to protect the country from the tremors of the oil markets, noting that the experience could be expanded to include other countries.
Al-Hanin said in an article seen by (The Information), "The Iraq agreement with China was carefully designed to constitute a real protection for the country from these tremors in the market, or at least it would have guaranteed a steady buyer of oil wealth in exchange for projects after it became clear that Iraq in the last days is looking for Buyers did not find. ”
He added: "I can say with confidence after the storm of deformation and counterfeiting against this agreement subsided after some thought that they succeeded in stopping it or at least postponing it and postponing the projects related to it. I say that the agreement was an advanced economic reading of the oil market. And an attempt to avoid betting on an extremely volatile market. ”
He explained that "Chinese companies will enter into competitive rounds on Iraqi projects within the market standards, so that Iraq chooses the best specifications, the most appropriate prices and the highest technology, and the matter will be available to Western companies as well if it requires the addition of high and advanced technology."
Al Hanin pointed out that “the financial framework with China is a source of smooth financing, in exchange for 100,000 barrels per day. Where oil is formed in a similar way (gold ingot), which makes Chinese companies and their high-tech partners eager to start their business in Iraq without fear of any political or economic fluctuations.
The advisor to the Prime Minister emphasized: “In short, we were able to guarantee a ready and guaranteed buyer of oil and that the experience of the collapse of the current oil prices from which no one was spared only from Mexico (from which some countries were previously ridiculed before the current collapse of oil prices),” noting that “Mexico sold Its oil at a fixed price was less than the market price in the days of high prices while today it is considered an imaginary price in favor of Mexico compared to the current prices, this experience should teach us a useful and important lesson. ” Ended / 25

 

https://www.almaalomah.com/2020/04/30/471433/

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A government consultant calls for implementing the Mexican experiment to cope with the collapse in oil prices

30/04/2020

 
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BAGHDAD - Mawazine News
, Abdul Hussein Al-Hanin, Advisor to the Prime Minister, Adel Abdul-Mahdi, on Thursday called for the application of the Mexican experiment to face the collapse of oil prices.
Al-Hanin said, in his article, that "in short, we can guarantee the presence of a ready and guaranteed buyer of oil. And the experience of the collapse of the current oil prices from which no one was spared except Mexico (from which some countries were previously ridiculed before the current collapse of oil prices). It sold its oil at a fixed price that was lower than the market price in the days of high prices, while today it is considered an imaginary price in favor of Mexico compared to the current prices. "
He added, that this experience should teach us a useful and important lesson. Therefore, I call for: -
Extending the agreement with China to reach the number between (300-500) thousand barrels of oil per day and with it the projects will expand.
- Begin to conclude similar agreements with other advanced countries, such as (the United States, France, South Korea, India, and Egypt)
- start broad negotiations to sell part of Iraq’s exports to Iraq (according to the experience of Mexico) at a fixed price and for a period of no less than 20 years to ensure a steady income for Iraq, and we leave The rest of the factors of supply and demand in the market and this may push Iraq out of OPEC, and it may be the right time will be after the return of oil prices to rise again.
- Amending the oil investment law that was born dead in 2007, because it is free from factors that attract investors to build refineries and other oil projects, and that the reason for the death of the law is the unconscious mind that dominates the minds of the political class but rather most of the Iraqi public, and I do not claim a discovery if I say The price of a barrel will multiply several times if it turns into petroleum products or petrochemical commodities.
- Launching Iraqi gas investment, and that the wait will carry us more losses and regret, but this file must be removed from the political and partisan controversy. Ended 29 / A 43

 

https://www.mawazin.net/Details.aspx?jimare=97872

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