Qatar Energy Company, one of the world’s largest suppliers of liquefied natural gas, announced on Monday that it had agreed to buy a 50% stake in the Total Energis solar energy project in Iraq, which has a maximum production capacity of 1.25 gigawatts.
In a statement issued by Qatar Energy, Qatar added that the French energy giant will retain the remaining 50% stake in the project, which is part of Iraq’s $27 billion integrated gas growth project, without disclosing the size of the deal.
The “Integrated Gas Growth Project in Iraq” initiative aims to boost electricity supply in Iraq, including by preserving gas in three oil fields instead of burning it with the aim of using it to supply power plants, which helps reduce the Iraqi import bill. The initiative also includes renewable energy projects.
Iraq currently imports between a third and 40% of its electricity and gas needs from Iran, but it still suffers from widespread power outages, especially in the hot summer months when the demand for energy for cooling is rising.
Qatar Energy said that the solar energy project, which will be phased to become operational between 2025 and 2027, “will be able to
When completed to save up to 1.25 gigawatts in peak of solar-generated electricity,” the project will include the use of “two million dual-sided, high-efficiency solar panels.”
The company added that the project “will be able to supply electricity to about 350,000 homes in the Basra area.”
Qatar Energy joined last year to an alliance to implement the “Integrated Gas Growth in Iraq” project with a 25% stake, along with Total Energy 45 percent, and Basra Oil Company 30%.
Article: "Planning: Census operations will continue for two weeks starting from November 20"
Quote: "The Ministry of Planning confirmed today, Friday, that the date for conducting the census on November 20 is fixed and unchanged, while it indicated that its operations will continue for two weeks until December 3, 2024."
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Clare
Article: " 'Hybrid Monetary Policy'.. Al-Sudani's Advisor Reveals the Central Bank's New Step"
Quote: "
The Central Bank began...on October 24, to reduce the monetary policy interest rate...by about 200 percentage points, by lowering the interest at which the Central Bank deals with banks from 7.5% to 5.5%, which means...an expansionary policy in targeting the money supply...
Despite the above...new policy did not neglect the importance of continuing to control local liquidity levels and carrying out high sterilization operations,
by offering debt instruments called Islamic certificates of deposit...which are considered sovereign debts that can be mortgaged or discounted in the secondary market and are excellent debts...
with a return of 4% for a period of 14 days and a return of 5.5% for a period of 182 days."
The Chairman of the Parliamentary Finance Committee, Atwan Al-Atwani, on Monday, assured Tunisian Finance Minister Siham Al-Boghdiri the serious desire to benefit from the Tunisian experience in managing financial and monetary wealth, and its steps in achieving sustainable development.
According to the statement, Al-Atwani stressed “the serious desire to benefit from the Tunisian experience in managing financial and monetary wealth, and its steps in achieving sustainable development, especially since it has a pioneering experience in relying on non-oil revenues, in financing the general budget of the state.”
The statement added that “the meeting came within the framework of Iraq’s direction to maximize its non-oil resources, so we aspire to positive integration with Tunisia in this regard, in order to achieve sustainable development that requires economic stability,” explaining: “This cannot be achieved for a country that depends entirely on oil, and we cannot accept that our economy remains subject to fluctuations in oil prices.”
The statement continued, “The meeting reviewed the most important challenges facing the financial and monetary sector, how to build the general budget of the two brotherly countries, ways to diversify sources of income and address deficits, and mechanisms for expanding the tax base and estimating revenues,” sevisting “the Iraqi government’s adoption of the application of automation and digital transformation, as it is an essential step in combating corruption and improving services.”
In the past corrupt executives and parliament people used to take advantage of the banks and the money exchange centers in the black market. Both of these issues are gone...
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Walkingstick
Sudani is slowly allowing banks to be relicensed again but he's bringing in these currency exchange centers as well.
When he relicenses a bank, he will have full control of that bank.
When he brings in these money exchange centers/banks he will have full control of them also. Sudani and the CBI watch every process of the monetary reform...
They will be giving a percentage to these centers and banks of the volume they will be bringing in. It is a symbiotic relationship where they will both benefit...
The Age of Mafia Flourishing in Iraq" .. People's Crises Strengthen the Positions of Currency Smuggling Gangs - Urgent
Economic expert Nasser Al-Kanani confirmed today, Sunday (October 27, 2024), the existence of mafias exploiting crises in Iraq and the region in order to increase currency smuggling operations.
Al-Kanani told Baghdad Today, "As soon as the war in Lebanon and Gaza escalated and security tensions in the region as a whole, specialized mafias emerged that work to exploit such security conditions in order to increase the process of smuggling currency from Iraq. There are different methods for this smuggling, some of which are done through foreign imports, which take place outside the platform."
He added, "Iraq is working to strengthen its national currency, but there are those who are working to weaken this currency by making the dollar very high against the national currency, and some are working to limit large commercial transactions to the dollar exclusively, and the sale of real estate, cars, etc., and this also weakens the national currency, despite all the campaigns to prevent internal transactions in dollars."
The economic expert continued, "Iraq cannot exploit conflicts and wars to strengthen its national currency, especially since it is working hard, internally and externally, to stay away from these wars. Iraq realizes the great economic danger if it enters the circle of conflict and wars."
The war on Gaza and its consequences, which included many regions of the Middle East, dealt a blow to the global economy, especially the Israeli economy, where government spending exceeded $140 billion, and it also lost approximately $15 billion from the attack on Lebanon, according to economic experts.
Speaking about the consequences of the ongoing conflict in the region on Iraq, researcher and aviation specialist Faris Al-Jawari reveals that there are significant material losses for Iraq as a result of the recent Israeli bombing of Iran.
Al-Jawari told Baghdad Today yesterday, Saturday, that "there are losses and material damages to the Iraqi air transport sector in particular and the airport sector as a result of the recent Israeli aggression on Iran, and this impact is clear and tangible during the recent period, but the recent aggression is the most dangerous as it was the reason for a complete halt to Iraqi aviation."
He explained that "the stoppage means the interruption of financial revenues that come to the Iraqi government through the passage of aircraft over Iraqi airspace, and this is worth ($450) per aircraft, and according to the latest report of the Iraqi Airports Company, approximately (600) aircraft pass over Iraq monthly, and this means that Iraq loses (270) thousand dollars per day."
He added, "There are other material losses as a result of the planes not arriving at the airports, and their failure to arrive there means providing ground services to them, and this provision is in exchange for a sum of money, and this matter is estimated at around ($2,000), and this means that there are great economic damages and losses as a result of the Israeli aggression on Iran and the general security situation in the region."
The aviation specialist confirmed that "Iraqi aircraft are the ones that are directly affected, as most companies were refusing to land at Iraqi airports, and this means that the major losses are incurred by Iraqi Airways, and there is also a service impact at the airports on passengers through the suspension of flights, and this disrupts the work of many passengers and it has economic impacts as well, of course."
Israel launched a series of air strikes on Iran early Saturday morning. Four hours after the start of the operation, which Tel Aviv called "Days of Response," the Israeli army announced that it had completed the attack on military targets in Iran, that all of its aircraft that carried out the attack on Iran had returned safely to their bases, and that the operation had achieved all of its goals. link
