Iraq begins project to extend gas pipeline in Basra to feed power plants, 15 MARCH

  Iraq begins project to extend gas pipeline in Basra to feed power plants

3/14/2025

The Iraqi Ministry of Oil began, on Friday, a project to extend a gas pipeline in Basra Governorate, which supplies power plants.

The ministry said in a statement today that Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani Al-Sawad visited Khor Al-Zubair port today and supervised the project.

She stated that "the visit comes to follow up on the ongoing work inside Khor Al Zubair Port on the Adhraa platform, which is receiving the dry gas pipeline project supporting the power generation stations."

The statement continued, "The Oil Projects Company's staff is making great efforts to bring the project to advanced stages and implement it within the specified timeframe and according to the approved engineering and technical specifications, given its importance in supplying power plants with gas."

It is noteworthy that the project extends from the Khor Al-Zubair docks to the Shatt Al-Arab Regulator, with a length of 40 km and a diameter of 42 knots. Work is proceeding at a rapid pace on the project, within the approved standards, and is being implemented by the national effort cadres of the Company for Oil Projects (SCOP).

On Sunday, March 9, the Iraqi Parliament's Oil and Gas Committee revealed the Iraqi government's intention to import Gulf gas instead of Iranian gas following the recent US sanctions. The committee announced a project being rapidly implemented in Basra, in the far south of the country.

The waiver granted by the United States to Iraq from sanctions imposed on Iran expired on Saturday, March 8, 2025. Consequently, the Baghdad government will not be able to import the Iranian gas needed to operate power plants across the country.

Committee spokesman Ali Shaddad told Shafaq News Agency, "The Ministry of Electricity's problem is that it has established stations in Iraqi governorates that rely solely on gas, while the stations in Basra are combined and operate on gas, crude oil, and black oil, which has contributed to the stability of the electrical system in the governorate."

He explained that "the Prime Minister is personally following up on the progress of the gas pipeline project from the floating platform in Basra on a daily basis," noting that "the Ministry of Oil began work on it about 30 days ago and it will be completed at high speed within 120 days."

He added that "the completion rate has exceeded 30% so far," stressing that "the project will contribute to transporting Gulf gas in quantities of up to 200 cubic meters."

The US State Department recently confirmed the end of exemptions that had allowed Iraq to purchase electricity from Iran, as part of the Trump administration's "maximum pressure" policy against Tehran.

Washington emphasized its refusal to provide any economic relief to Iran, stating that the goal is to end the Iranian nuclear threat, limit its missile program, and prevent its support for armed groups.

For his part, Farhad Alaaldin, the Prime Minister's advisor for foreign affairs, confirmed to Reuters that "the expiration of the waiver poses temporary operational challenges for Iraq."

Alaa El-Din added that "the government is actively working to find alternatives to sustain electricity supplies and mitigate any potential outages," noting that "enhancing energy security remains a national priority, and efforts to boost domestic production, improve grid efficiency, and invest in new technologies will continue at full capacity."

For many years, Iraq has relied on importing electricity and gas from Iran, especially during the peak summer months. This relies on ongoing US waivers, which are issued multiple times each year.

In October 2024, Iraq signed an agreement with Turkmenistan to import gas in quantities of up to 20 million cubic meters per day via the Iranian pipeline network, using a swap mechanism to facilitate transportation. However, the agreement has not yet begun due to technical issues, the Ministry of Electricity recently announced.   LINK

TIDBIT FROM FRANK26, 15 MARCH

 Frank26 

 You think it's been difficult?  Wait till this thing happens, oh my dear God.  You're going to have to make decisions you've never made before.  

How are you going to move a million dollars?  How are you going to protect it?  Where are you going to move it?  Who's going to move it for you?  Who are you going to trust?  Did you calculate the taxes?

   [Security and stability] is not just because of the Iraq dinar/the Iraqi monetary reform of their currency.  

It's not just because of that.  That's part of it yes, everybody knows what the Iraq currency is about to do.  No it's not a secret.  But there are other things that have brought security and stability.

MARKZ: Are there still 23 currencies in the first basket? ‪@DINARREVALUATION‬ #iraqidinarinvestor

 

FRANK26: "ALAQ ADDRESSES DEVELOPMENTS IN THE BANKING SECTOR"., 16 MARCH

 KTFA

FRANK26: "ALAQ ADDRESSES DEVELOPMENTS IN THE BANKING SECTOR"......F26  

The Association of Private Banks organizes a dialogue session to discuss the latest developments in the banking sector in Iraq.

3/13/2025

 

- Baghdad
 

The Iraqi Private Banks Association organized a dialogue session to discuss the latest developments in the banking sector in Iraq, including deprived banks and fines imposed by the Central Bank. The session was attended by the Governor of the Central Bank of Iraq, Ali Al-Alaq, and representatives of banks and electronic payment companies.

At the beginning of the session, the Chairman of the Iraqi Private Banks Association, Wadih Al-Handhal, welcomed the Governor and the participants, stressing the importance of joint cooperation between the Central Bank, banks, and electronic payment companies to enhance financial stability and develop the banking system in accordance with the latest international standards.

Al-Handhal stated that the Special Committee for Assisting Deprived Banks, formed within the Ministerial Economic Council, called for the need to assist deprived banks and suspend fines imposed on them, as they are going through difficult circumstances, as everyone knows. He explained that deprived banks work daily to implement global financial requirements and are subject to daily fines, calling for these fines to be suspended and reviewed by the Central Bank of Iraq. 

For his part, the Governor of the Central Bank, Ali Al-Alaq, addressed the Central Bank's measures related to banks barred from using the dollar, noting signs of optimism in discussions with the US side on this issue. 

He stressed that the Central Bank supports the establishment of digital banks, with 75 banks having applied for them, contributing to accelerating the digital transformation of the banking sector in Iraq. He noted that the first phase will involve granting only one or two licenses for the purpose of experimentation and studying the problems and challenges facing these digital banks. 

Al-Alaq indicated that banks are required to work to increase the rate of financial inclusion by providing modern banking services that target broader segments of society, emphasizing that the transition to a digital economy is a fundamental step towards enhancing financial stability and economic development.

LINK

DINAR EXCHANGE: 🇮🇶Iraq’s 2025 Budget: Delayed Amid Political Uncertainty 💼🇮🇶, 15 MARCH

 DINAR EXCHANGE

Iraq’s 2025 Budget: Delayed Amid Political Uncertainty Iraq’s 2025 national budget is facing significant delays due to political disagreements and the upcoming elections. Despite the Finance Ministry’s initial plan to submit the budget in October 2024, it hasn’t yet reached parliament, and it could take another two months. Here’s what’s happening: Parliament passed an amendment to the 2023-2025 budget in February, but over 50 lawmakers boycotted, raising legal disputes over the session’s legitimacy. The budget delays are tied to political maneuvering ahead of elections, as different factions struggle to reach consensus. Iraq’s heavy reliance on oil revenues complicates budget planning—falling oil prices are squeezing the country’s fiscal resources. With these financial pressures, the need for stricter financial discipline is clear, but political tensions are making the process slow and difficult. The question remains: will the elections clear the path for a stable budget, or will Iraq’s financial future remain in limbo?

DINAR REVALUATION REPORT: Will Iraq's Dinar Revalue in 2025? ‪@DINARREVALUATION‬ #iraqidinar

 

FRANK26: "DEAR PRESIDENT TRUMP... IS THIS OK?, 15 MARCH

 KTFA

FRANK26: "DEAR PRESIDENT TRUMP... IS THIS OK?".......F26

Iraq begins project to extend gas pipeline in Basra to feed power plants

3/14/2025

 

The Iraqi Ministry of Oil began, on Friday, a project to extend a gas pipeline in Basra Governorate, which supplies power plants.

The ministry said in a statement today that Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani Al-Sawad visited Khor Al-Zubair port today and supervised the project.

She stated that "the visit comes to follow up on the ongoing work inside Khor Al Zubair Port on the Adhraa platform, which is receiving the dry gas pipeline project supporting the power generation stations. "

The statement continued, "The Oil Projects Company's staff is making great efforts to bring the project to advanced stages and implement it within the specified timeframe and according to the approved engineering and technical specifications, given its importance in supplying power plants with gas."

It is noteworthy that the project extends from the Khor Al-Zubair docks to the Shatt Al-Arab Regulator, with a length of 40 km and a diameter of 42 knots. Work is proceeding at a rapid pace on the project, within the approved standards, and is being implemented by the national effort cadres of the Company for Oil Projects (SCOP).

On Sunday, March 9, the Iraqi Parliament's Oil and Gas Committee revealed the Iraqi government's intention to import Gulf gas instead of Iranian gas following the recent US sanctions. The committee announced a project being rapidly implemented in Basra, in the far south of the country.

The waiver granted by the United States to Iraq from sanctions imposed on Iran expired on Saturday, March 8, 2025. Consequently, the Baghdad government will not be able to import the Iranian gas needed to operate power plants across the country.

Committee spokesman Ali Shaddad told Shafaq News Agency, "The Ministry of Electricity's problem is that it has established stations in Iraqi governorates that rely solely on gas, while the stations in Basra are combined and operate on gas, crude oil, and black oil, which has contributed to the stability of the electrical system in the governorate."

He explained that "the Prime Minister is personally following up on the progress of the gas pipeline project from the floating platform in Basra on a daily basis," noting that "the Ministry of Oil began work on it about 30 days ago and it will be completed at high speed within 120 days."

He added that "the completion rate has exceeded 30% so far," stressing that "the project will contribute to transporting Gulf gas in quantities of up to 200 cubic meters."

The US State Department recently confirmed the end of exemptions that had allowed Iraq to purchase electricity from Iran, as part of the Trump administration's "maximum pressure" policy against Tehran.

Washington emphasized its refusal to provide any economic relief to Iran, stating that the goal is to end the Iranian nuclear threat, limit its missile program, and prevent its support for armed groups.

For his part, Farhad Alaaldin, the Prime Minister's advisor for foreign affairs, confirmed to Reuters that "the expiration of the waiver poses temporary operational challenges for Iraq."

Alaa El-Din added that "the government is actively working to find alternatives to sustain electricity supplies and mitigate any potential outages," noting that "enhancing energy security remains a national priority, and efforts to boost domestic production, improve grid efficiency, and invest in new technologies will continue at full capacity."

For many years, Iraq has relied on importing electricity and gas from Iran, especially during the peak summer months. This relies on ongoing US waivers, which are issued multiple times each year.

In October 2024, Iraq signed an agreement with Turkmenistan to import gas in quantities of up to 20 million cubic meters per day via the Iranian pipeline network, using a swap mechanism to facilitate transportation. However, the agreement has not yet begun due to technical issues, the Ministry of Electricity recently announced.

LINK