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FRANK26: "THE HCL !!!".....F26
Iraq finalizes strategic agreement with major global oil company
9/6/2024
Baker Hughes, the global energy technology company, revealed on Sunday that it is discussing with the Iraqi Ministry of Oil the final touches to a strategic framework agreement, as well as signing a memorandum of understanding in the gas sector, stressing its commitment to the government and its desire to invest in Iraq.
A statement by the media office of Prime Minister Mohammed Shia al-Sudani, received by Shafaq News Agency, stated that the latter received today in Baghdad the Chairman of the Board of Directors of Baker Hughes, a company specializing in oil and gas, and its CEO Lorenzo Simonelli and his accompanying delegation.
Al-Sudani stressed that Baker Hughes is one of the four largest companies in the world specializing in energy and oil services, pointing out that “the government is keen on the company’s presence in Iraq, which was invited to expand investment in it, through cooperation with the government or with the private sector in the field of oil and gas.”
He noted that "the Iraqi market has become a promising market, and that the government is planning major projects, especially integrated projects in the oil, gas and petrochemical sectors."
Al-Sudani pointed to the development path that includes oil and gas transport projects, stressing the importance of completing the projects that the company is working on in Iraq, especially the Nasiriyah oil field in which the company is investing to extract associated gas, with a capacity of 200 million standard cubic feet, which is hoped to be completed in 2026.
For its part, the Baker Hughes delegation confirmed their commitment to the government and their desire to invest in Iraq in the oil or gas sectors. They came to put the final touches on signing a strategic framework agreement with the Ministry of Oil, as well as signing a memorandum of understanding in the field of gas and investing in the gas platform that will be established in the Grand Faw Port, expressing their desire to finance some projects in Iraq.
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"HCL !!!"...........F26
9/9/2024
Baghdad - WAA
The Ministry of Finance announced, today, Sunday, the results of the meeting of the Ministerial Council for the Economy, which was held in the Kurdistan Region.
A statement by the ministry received by the Iraqi News Agency (INA) stated that "the bilateral meetings between the Ministerial Council for the Economy and the Economic Council of the Kurdistan Region, which are currently taking place in Erbil, have been launched, in the presence of the Prime Minister of the Kurdistan Region, Masrour Barzani, where the discussions focus on mechanisms to enhance financial cooperation between the two parties and reach sustainable solutions to outstanding financial issues."
He added that "the discussions are taking place within the framework of government efforts aimed at enhancing cooperation between the federal government and the Kurdistan Region, and joint financial files such as salaries of the region's employees, the region's budget and border crossings, in addition to coordinating customs and tax policies, are among the most important issues affecting the stability of the Iraqi economy."
The Minister of Finance indicated - according to the statement - that "the discussions represent a historic opportunity to achieve financial reconciliation between the federal government and the Kurdistan Region."
She stressed the importance of "enhancing financial cooperation between the two parties and reaching sustainable solutions to outstanding financial issues," noting at the same time that "agreeing on a fair mechanism for distributing oil revenues and border crossings will contribute to enhancing confidence and economic stability in the country."
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