Category: Business

Baghdad The Ministry of Oil announced today, Thursday, that the revenues last month amounted to more than nine billion dollars.

The ministry said in a statement: “The amount of crude oil exports for the month of October last year amounted to (104) million (831) thousand (120) barrels, with revenues amounting to (9) billion and (281) million and (647) thousand dollars.”

It added, “The total quantities exported of crude oil for the month of October from oil fields in central and southern Iraq amounted to 102 million and (70) thousand and (427) barrels, while the quantities exported of Kirkuk oil through the Turkish port of Ceyhan were two million and (417) thousand and (893) barrels.

It continued, “The average price per barrel amounted to (88,539) dollars, and that the exported quantities were loaded by (34) international companies of multiple nationalities, from the ports of Basra, Khor Al-Amaya, mono-buoys on the Gulf and the Turkish port of Ceyhan.”

Source: National Iraqi News Agency

Baghdad The exchange rates of the dollar rose against the dinar, today, Thursday, on the local stock exchange.

Al-Kifah and Al-Harithiya stock exchanges in Baghdad this morning recorded 149,000 dinars against 100 dollars. Yesterday, Wednesday, the prices were 148,700 dinars against 100 dollars.

The selling price was 149,500 dinars per $100 in the local stock exchange, while the purchase price was 148,500 dinars per $100.

Source: National Iraqi News Agency

Baghdad The economic expert, Abdul Hassan Al-Shammari, confirmed that: “There is no benefit from financial abundance without a strategic economic mentality.”

Al-Shammari said in a statement to the National Iraqi News Agency / NINA /: “In light of the great financial abundance, it is possible to build industry and agriculture and achieve high financial goals, but the country needs high-level planning to achieve this.”

He added: “Some do not understand the existence of strategic economic minds that advance the economy for the better by developing the various sectors of industry, agriculture and tourism that generate money for the country that exceeds oil revenues and moves Iraq to a country with diverse revenues.”

Source: National Iraqi News Agency

Baghdad the Expert in Economic affairs, Raad Twaij, confirmed that reducing the mobile phone tax to 10% or 5% instead of 20% is much better than removing it completely.

Twaij said in a statement to the National Iraqi News Agency (NINA) that “imposing a tax on mobile phone cards has become part of the tax system in Iraq, regardless of the financial conditions of Iraq, and therefore it is preferable to reduce its rate to 10% or 5% instead of 20%, and not remove it permanently.

He stressed that “the tax is considered part of the tax system in Iraq, and it is worth noting that the method of imposing this tax was wrong, as it left the producer of the cards, which are the mobile phone companies, without bearing part of this tax.”

Source: National Iraqi News Agency

Baghdad The Deputy Prime Minister, Minister of Oil affirmed Iraq’s keenness to actively contribute to achieving more stability in global markets, reaching a state of logical balance between supply and demand, and reducing the challenges and influences that lead to its volatility and instability.

Hayyan Abdul-Ghani said during his presidency of the monthly meeting of the pricing of Iraqi oil: that Iraq is following with interest the developments of the oil market, and daily changes due to the circumstances and challenges facing the world, referring to communication with members of OPEC and OPEC Plus and access to reports in this regard, and that Iraq is with the agreements that are being achieved more stability and balance for oil markets, and lessening the decline in the price of a barrel.

Abdul-Ghani stressed that “Iraq depends in the pricing of its oil on the most accurate economic and marketing standards that guarantee obtaining the best prices, in addition to respecting its commitments and obligations with customers and companies that deal with Iraqi oil.”

It was decided at the meeting, the price of Iraqi oil for the next month, after reviewing and discussing technical and research reports in this field.

Source: National Iraqi News Agency

Baghdad The head of Al-Fateh Alliance, Hadi Al-Amiri, called on Tuesday the giant Japanese companies to contribute to building Iraq.

His media office said in a statement: “Al-Amiri met in his office with the Japanese Ambassador in Baghdad, Matsumoto Hotoshi, to discuss strengthening relations between Baghdad and Tokyo and increasing cooperation at all levels to serve the two countries, especially in the field of investment.

Al-Amiri expressed his hope that the giant Japanese companies that built their country after World War II would contribute to building Iraq, rehabilitating its facilities, and benefiting from their experience and expertise in reconstruction and development.

He pointed out that “Iraq has a suitable environment for investment, criticizing the unprofessionalism of some media outlets that exaggerate a bad and unrealistic picture of the security situation in Iraq.”

For his part, Hotoshi explained that he “received many requests from Japanese companies to invest in Iraq, indicating that there are many challenges, most notably the need for an encouraging environment for these companies to enter to work inside Iraq.”

Source: National Iraqi News Agency

Baghdad The consultant in economic development and investment, Amer Al-Jawahiri stressed the country’s need for a major economic renaissance.

He told the National Iraqi News Agency (NINA) that the country’s economy cannot be promoted without major investment projects that generate money in order to gradually reduce dependence on oil as the only resource for the annual budget.

Al-Jawahiri added that the first signs of this renaissance are the establishment of major joint investment projects with the countries of the region and other countries, in addition to activating the concluded agreements, especially with China.

He explained: Among the major projects is the Nibras Petrochemical Project, in partnership with the international company, Shell, which must be activated by setting a specific time period for its completion.

Source: National Iraqi News Agency

Baghdad Minister of Agriculture Abbas Al-Alawi stressed Iraq’s need to benefit from China’s expertise to obtain modern irrigation technologies and rely on alternative energy such as wind and solar energy.

A statement from the Ministry of Agriculture said that the minister received Chinese Ambassador Cui Wei, who congratulated him on assuming his ministerial duties.

Al-Alawi stressed the depth of the Iraqi-Chinese relations and joint cooperation in various fields, especially the agricultural aspect, noting that the great and many challenges facing the world in the field of climate change need cooperation between the various countries of the world to confront these challenges, since Iraq suffers from this phenomenon that has bad effects on the different aspects of life.”

The minister indicated Iraq’s need to benefit from the experiences of the Chinese side to obtain modern irrigation technologies and rely on alternative energy such as wind and solar energy, expressing his desire to expand the horizons of agricultural cooperation with China, combat desertification and confront the effects of climate change.

For his part, the Chinese ambassador expressed the availability of the Chinese will to help Iraq in the areas of combating desertification and expanding the agricultural area, stressing the existence of cooperation between the concerned authorities in the two countries and that there are several proposals submitted by the Department of Combating Desertification to provide support to the Iraqi side, stressing the speedy start of cooperation at the earliest opportunity to shorten time.

Ambassador Wei promised to pass all these proposals to the Beijing government for future work.”

At the conclusion of the meeting, the minister indicated that the next step will be to direct the advanced cadre in the ministry to schedule all needs and start implementing them between the Iraqi and Chinese sides.

Source: National Iraqi News Agency

Baghdad The Minister of Industry, Khaled Battal, confirmed that there are companies with more employees than the actual need.

Battal said in a televised statement that the Ministry suffers from a large number of employees in its departments.

He explained that the talk about the carcinogenic fertilizer Dab is inaccurate and laboratory experiments have proven this.

The Minister of Industry confirmed: We have started producing fire extinguishing systems that work with high efficiency.

Source: National Iraqi News Agency

Basra The technical and engineering staff in the Iraqi Drilling Company have completed drilling the Majnoon oil well / 141.

The Director-General of the Iraqi Drilling Company, Engineer Basem Abdul Karim Nasser, said in a statement, “The company’s technical and engineering staff have completed drilling a well with a depth of 3182 meters, which is the eleventh well that the company is completing within the contract concluded with the Basra Oil Company to drill 43 oil wells in the Majnoon oil field in cooperation with Halliburton Company to provide oil services.

He added, “The company owns 43 drilling and reclamation rigs with a capacity ranging from (500-3000) horsepower, including 30 modern devices whose work is distributed throughout the geographical area of the country from north to south.

Source: National Iraqi News Agency

Baghdad The exchange rates of the dollar in the local markets slightly decreased today, Sunday.

The selling prices of the dollar recorded at 148,300 dinars per 100 dollars, while the buying prices of the dollar recorded at 148,200 dinars per 100 dollars.

Source: National Iraqi News Agency

Baghdad The exchange rates of the dollar witnessed, today, Friday, stability in the local markets.

The selling prices of the dollar were 148,400 dinars, and the purchase prices were 148,300 dinars, for every $100.

Source: National Iraqi News Agency