Posts Tagged ‘International Energy Agency’

Economic seminar discusses the future of sustainable development in Iraq

Posted: January 21, 2013 in Iraqi Dinar/Politics
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21/01/2013 12:00 am

Urged the need to develop the energy sector in the country

urged economists on the importance that exploits the country of human potential in order to increase rates of sustainable development in Iraq, pointing to the existence of a number of obstacles facing the economic process in general, led a whole to decline rates of development, and caused low GDP, and while experts stressed the need to exploit the wealth large enjoyed by Iraq optimally, criticized economic thinker Dr. Mehdi Hafedh dominance of the public sector on the economic movement in the country, describing the measures to boost rates of sustainable development in Iraq (b minor). (more…)

Deputy PM: Optimistic about HCL; As GOI is serious about removing obstacles that impede the law

Posted: December 3, 2012 in Iraqi Dinar/Politics
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Erbil (newsletter) … Deputy Prime Minister Roz Nuri Shaways, the seriousness of the Federal Government to remove all obstacles that impede oil and gas law, expressing optimism about the agreement between the Federal Government and the Kurdistan Regional Government in the field of oil and gas. (more…)

Will Iraq be the the fast growing economy on earth?

Posted: November 25, 2012 in Iraqi Dinar/Politics
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Iraq need to improve its financial and legal infrastructure to attract investment, especially the financial services sector

The Wall Street bank’s data shows that among all the major economies it tracks, Iraq will be the only country that will post double-digit-growth in 2012 – clocking a 10.5% improvement in GDP this year.

China will emerge as the world’s second fastest-growing economy this year, with 7.7% GDP growth. Meanwhile, the ten most important emerging markets will only grow at 5.5% this year, weighed down by problems in OECD economies, BAML data shows. (more…)

British expert: Iraq will become active and influential force in the world oil markets

Posted: November 23, 2012 in Iraqi Dinar/Politics
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Posted 21/11/2012 05:44 PM

Baghdad / follow Mashreq: – predicted oil expert British and director of the Center (Open Oil) global specialist in the oil industry Johnny West, that Iraq will become a powerful force and influential in world oil markets when being able to increase its oil production to (6) million barrels in (2020 ).

West said in an interview expanded with the Agency (news): There are many challenges stand in front of the oil industry in Iraq has made ​​the growth of oil production is slow, including the security situation and poor infrastructure for some oil fields, in addition to the status of Iraq in OPEC made ​​some of its members fear the vulnerability of increased Iraqi production on world oil prices. (more…)

Oil-rich Iraq becomes World Bank target for contributions

Posted: November 11, 2012 in Iraqi Dinar/Politics
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With its oil output expected to continue to rise, Iraq has become the World Bank’s target for financial contribution.

Deputy head of Iraq’s Central Bank said last week that the World Bank asked Iraq to become a donor state by 2014.

But with the myriad challenges facing a country ravaged by years of war, Iraq is likely still far from being able to help others. (more…)

Iraq could become the second largest oil exporter in the world

Posted: November 11, 2012 in Iraqi Dinar/Politics
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 translation Abdul Khaliq Ali said the International Energy Agency that Iraq will soon be responsible for half of the projected global production of oil, and one study revealed that Iraq could become the second-largest oil exporter, over two decades and double production by 2020.

And the agency said Iraq could exceed Russian exports, but the Iraqi government must overcome internal differences with the Kurdistan region over oil rights and to increase the current investment of $ 9 billion in 2011 to $ 25 billion a year on average for the rest of the decade. (more…)

Special Inspector General for Iraq Reconstruction (SIGIR) : Oct 2012

Posted: October 31, 2012 in Iraqi Dinar/Politics
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Special Inspector General for Iraq Reconstruction (SIGIR)

Quarterly Report to the United States Congress
October 30, 2012

Crude oil export volume also per year to the country.58 For a look at all three IEA production scenarios, see Figure 1.6. Despite the bright picture painted by these new reports, there are issues that could limit the country’s economic growth. Iraq’s antiquated banking industry has been unable to finance the kind of massive development spending required for Iraq to reach its goals. Further, international bankers voiced concern that the dismissal of CBI Governor al-Shabibi could weaken Iraq’s financial services industry. (more…)

CBI: Right opportunity for Baghdad to discuss Iraq’s debt

Posted: March 5, 2012 in Iraqi Dinar/Politics
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Date: Monday 05/03/2012 17:51

Iraq will be presented at the Public Economic upcoming summit

Central Bank of Iraq said that the Arab summit to be held in Baghdad from the most appropriate forums to discuss the Arab Iraq’s debt with the Arab countries.

The deputy governor of Bank of the appearance of Mohammed Saleh, said that there is the question and the other Iraqi special issue of public debt on the subject of Arab Iraq, which has not been settled so far, except for Algeria and some other countries. He noted that some small countries, Malta Kcyprus dropped all the debts on Iraq, while there are countries did not fall sister debts on Iraq so far. (more…)

Iraq Foreign Relations Committee: Iraq must get out of Chapter VII

Posted: February 28, 2012 in Iraqi Dinar/Politics
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2/28/2012 6:59 PM

BAGHDAD / Aswat al-Iraq: The Iraqi Parliamentary Foreign Relations Commission today called the international community to play greater role in removing Iraq from UN Security Council’s Chapter VII and adopting a clear stand to support its legitimate issues, according to a statement.

The statement added that the Commission today received a delegation from the British Embassy in Baghdad. (more…)

International Energy Agency: Iraq’s oil production rose by 12% in 2011

Posted: January 29, 2012 in Iraqi Dinar/Politics
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SUNDAY, 29 JANUARY 2012

Said the International Energy Agency in its report that oil production in Iraq rose by 12% in 2011, while warning that the political instability inside Iraq in the development of operational and logistical constraints on the oil sector.

A report by the International Energy Agency obtained by “Twilight News”, that “Iraq’s oil production rose by 12% in 2011 compared to the previous year but this increase was not reflected in exports due to poor infrastructure.” (more…)

Iraq’s Oil Profits Rebound In November 2011, But Complications With Infrastructure And Compensation Remain

Posted: January 1, 2012 in Iraqi Dinar/Politics
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Full numbers for Iraq’s November 2011 oil exports and profits were finally released, and showed a rebound on all counts after a two month dip. The price for Iraqi crude went up along with exports, leading to a rise in revenue for Iraq last montn. Despite this, Iraq’s production has still hit a plateau due to infrastructure limitations, and the country is having problems paying foreign companies that are responsible for the increases.

As reported before, Iraq’s oil exports rebounded in November after going down for the previous two months. In November, the country shipped an average of 2.13 million barrels a day, compared to 2.08 million in October, and 2.10 million in September. Last month’s average was not as high as August however, when Iraq exported 2.19 million barrels. The price of one barrel of Iraqi crude also increased from $104.43 in October to $106.59 in November. (more…)

Iraq is the main contributor in oil production till 2035

Posted: November 12, 2011 in Iraqi Dinar/Politics
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BAGHDAD / Aswat al-Iraq: Iraq will be the main contributor in oil production increase till 2035, according to International Energy Agency periodical report.

The report said that OPEC will achieve an increase of 2.9 b/d in the medium range, namely 23.8 million b/d in 2010 to 26.7 million b/d in 2015, to 36 million b/d in 2035.

It clarified that in case of achieving such an increase, the OPEC percentage in world production was 42% in 2010 to be increased to 51% in 2035. Iraqi oil production shall be the main contributor, whose production will be tripled from 2.5 million b/d to 7.7 million b/d, though this figure is different from Iraqi government expectations to reach 12 million b/d in 2017.

http://bit.ly/sRjmfZ

Iraq’s proven oil reserves at 143 billion barrels

Posted: November 12, 2011 in Iraqi Dinar/Politics
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United Nations confirmed in a report that Iraq has oil reserves, stressing more than 143 billion barrels and potential reserves exceeding 200 billion barrels, placing the country among a small group of countries that have a high potential for oil production and influence in global oil markets. The unit of information and analysis of inter-agency United Nations and UNDP for the organization (Yu said DBS) prepared a report on the reality of the oil and gas in Iraq, which included a complete analysis of this sector. (more…)

High oil prices could pose a threat forcing world to slide into recession

Posted: June 16, 2011 in Iraqi Dinar/Politics
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06/16/2011 9:50

Fears that high oil prices to economic recession and warned the International Energy Agency, based in Paris, the risk of continuation of current levels of high oil prices, which may lead towards a new global economic recession.

The chief economist Fatih Birol said “oil prices, which range at an average $ 120 a barrel, threatening to make the world sliding into recession again.”

(more…)

Iraqi Oil Minister: OPEC could cover the shortfall in the production of Libya

Posted: March 4, 2011 in Iraqi Dinar/Politics
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Allaibi said that the current global oil prices acceptable and do not affect the global economy.

He told reporters in Baghdad, but there is concern that Libyan oil exports are limited and OPEC has spare production capacity beyond what is produced by Libya.

Allaibi said that the stability of world oil prices, an issue difficult to estimate, but he did not expect a significant increase in two or three weeks ahead as Saudi Arabia can pump more oil to put a ceiling on prices when necessary. Saudi Arabia is the most influential member of OPEC and has the largest spare production capacity.

(more…)

Lawmakers urge Obama to release emergency oil

Posted: February 27, 2011 in Iraqi Dinar/Politics
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Three lawmakers on Thursday urged President Barack Obama to consider tapping America’s emergency oil supply to help lower crude prices that have spiked above $100 a barrel over disruptions in Libya.

The International Energy Agency, which coordinates policy among the world’s consumer nations, has said it would likely let OPEC move first to address any supply shortages. But the call by the Democratic Representatives suggests pressure is starting to build for Obama to get more involved.

read the rest of the story: http://bit.ly/ey1yzb

Video: Trump Says Mid-East Revolts Could Destroy OPEC, Sink Oil Prices

Posted: January 31, 2011 in Iraqi Dinar/Politics
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Oil and gold prices rise, CBI sales down

Posted: December 13, 2010 in Gold/Silver, Iraqi Dinar/Politics
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Oil rises after OPEC’s decision to keep output unchanged
Oil prices rose Monday after it agreed Organization of Petroleum Exporting Countries (OPEC) at the weekend to keep crude output levels unchanged.

And increased U.S. light crude futures delivery January 29 cents to 88.08 dollars a barrel. London Brent crude rose 46 cents to 90.94 dollars. Analysts said that there are several reports indicated that the market fundamentals are strong, including the report of the International Energy Agency raised its forecast for oil demand growth in 2011.

(more…)