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Iraqi Oil Ministry will construct 5 New Refineries in the country

Iraqi Oil Ministry will construct 5 New Refineries in the country

The Iraqi Oil Ministry is working hard on the selection of various international investment companies in order to construct 5 new refineries in the provinces. The ministry stressed that the Iraqi Oil Ministry financed the Karbala refinery. It would save about 9 million liters of gasoline per day in addition to other outgrowths, after its completion. The undersecretary for liquidation affairs of the ministry, Hamed Al-Zobaie issued a press statement that oil ministry has planned to construct 5 new refineries…

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Iraqi Budget 2020 deficit could reach 30 Billion U.S Dollars

Iraqi Budget 2020 deficit could reach 30 Billion U.S Dollars

A deputy in the Iraqi parliament pointed out that the deficit in 2020 budget could reach 30 billion U.S dollars. It might cause an unprecedented crisis. The MP pointed out in a statement, “There are expectations that Iraq will be on a new date with a fiscal deficit during the next year 2020”. He added that there are a number of indicators and predictions showing that it will be more critical in at least past 16 years in light of…

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Foreign Companies will invest in the Faw Port

Foreign Companies will invest in the Faw Port

The Iraqi Transport Ministry has announced the establishment of a joint stock company in order to manage the port of Faw with more than 1.3 billion U.S dollars capital. The Ministry is also considering the request of foreign companies willing investing in the port of Faw. It has been considered a significant amount of progress in the work of the port. Entire resources have provided to boost up the work of port. Point to be noted that the Iraqi ports…

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Turkey and Basra in Business Again

Turkey and Basra in Business Again

Iraqi Dinar 123 News :- It was reported that Turkish businessmen entered the city of Basra and they entered it in target to damage the economic activity of Iraq. People reported for the betterment of the country and asked the House to ask the Turkish government to manage these people. The Daash is the child of Turkey that allowed it to enter Iraq and it has also helped them in the smuggling of oil. ‘Aldoaash’ is the form of group…

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Crude Oil Production in Basra and Iraq’s Economic Woes

Crude Oil Production in Basra and Iraq’s Economic Woes

Iraqi Dinar 123 News:– The production of crude oil from Basra region would help in the management of economic issues of the country. Badra is the biggest province of the country and it has the biggest responsibility to create better economic opportunities and support the country for its several reasons. Wasit is helpful in managing the different projects which would help in gaining revenues for the different things. It is a good idea to have different things managing for the…

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Iraq Plans to Export 2.4 Million barrels From Basra

Iraq Plans to Export 2.4 Million barrels From Basra

Iraqi Dinar 123 News:– It was reported that Iraq plans to export 2.4 million barrels per day of crude oil to Basra in September which has previously been 2.2 million barrels per day. This idea would help in increasing the crude exports. Although there has been a constant fight going on in the northern part of the country regarding the world oil prices. The Brent oil trader supplied oil at $103 at the lowest price recorded within the weight of…

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UAE Bank To Open A Branch In Basra

UAE Bank To Open A Branch In Basra

Iraqi Dinar 123 News:– Abu Dhabi Islamic Bank has been given clearance to open a branch in Basra, Iraq. This is a great step as it would help in facilitating trade and make other financial transactions. This would help in expanding business and maintaining good relations between the two countries. Much needed for Iraq, it would be quite helpful in future. With the opening of a good bank in the country, it would attract investors from UAE to invest in…

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Total looking at building big petrochemical unit in Iraq

Total looking at building big petrochemical unit in Iraq

French oil giant Total told AFP News Agency that it was looking at building a “world-scale” petrochemical complex in Iraq as part of its strategy to develop its activities in the Middle East’s growth markets. The head of Total’s refining and chemicals division, Patrick Pouyanne, said he signed a preliminary accord with Iraq’s industry ministry in November 2013 to examine the feasibility of the complex in the southern Iraqi port of Basra. “They are exploratory discussions at this stage that should be confirmed in coming months,” a company spokeswoman said….

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