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  • Wolverine's Avatar
    Today, 12:26 PM
    408 replies | 15434 view(s)
  • dollarsign's Avatar
    Today, 11:53 AM
    FATF President... Mr. Marshall Billingslea of the United States assumed the position of President of the FATF on 1 July 2018. Mr. Billingslea serves as the US Department of the Treasury’s Assistant Secretary heading the Office of Terrorist Financing and Financial Crimes. In this role he is responsible for policy development and international engagement pertaining to anti-money laundering and countering the financing of terrorism. Previously, Mr. Billingslea served as a Managing Director at Deloitte, responsible for its Federal Business Intelligence Services group, And, slightly back then... Iraqi Kurdistan generated $1.663 bln from oil sales in 2018’s first quarter: Deloitte Posted on August 14, 2018 by Editorial Staff in Economy, Economy, Oil & GasDeloitte’s offices in London. Deloitte is the Iraqi Kurdistan’s oil auditing firm. Photo: AFP HEWLÊR-Erbil, Iraq’s Kurdistan region,— Iraqi Kurdistan Regional Government (KRG) generated more than $1.663 billion USD in revenue from oil sales in the first three months of 2018. The KRG has released a report prepared by Deloitte on oil production, export, consumption, and revenue in the Kurdistan Region between January 1 and March 31 of this year. Iraqi Kurdistan signed a contract with the international audit firm on October 5, 2015 to examine oil production and revenue in an effort to improve transparency. like a swiss watch... $
    156 replies | 25752 view(s)
  • Investors Iraq News's Avatar
    Today, 04:09 AM
    By Adnan Abu Zeed for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News. British Ambassador Jonathan Wilks warned at a press conference last month that, at its current rate of growth,*Iraq’s population would increase*by a million people per year. Iraq’s Central Statistical Organization (CSO) announced soon after, on Oct. 1, that the country’s population had reached about 38 million in 2018, and that Baghdad’s population had reached more than 8 million. While Iraq has not conducted any comprehensive census since 1997, these figures, combined with the rising unemployment rate, indicate an imbalance between the growing population and the availability of services. Najeh al-Obeidi, an economics*researcher at the University of Baghdad, is worried that the state will not be able to respond to population growth or provide decent living conditions for Iraqis.*“This raises concerns about the future,” he said.*“Baghdad alone has a population equal to that of the entire country five decades ago.” Click here to read the full story. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 30 view(s)
  • Investors Iraq News's Avatar
    Today, 04:09 AM
    Air Arabia, the Middle East and North Africa’s first and largest low-cost carrier (LCC), has announced the launch of non-stop service to the city of Sulaymaniyah in the north of Iraq. The new service from the carrier’s primary hub in Sharjah marks Air Arabia’s fourth destination in Iraq and 152 worldwide. From November 6, 2018, Air Arabia will offer two weekly flights to Sulaimaniyah, making it convenient for passengers travelling between both cities. Offering convenient timings, the three-hour flight will operate twice per week, on Tuesdays and Fridays. The outbound flight on Tuesday’s will depart from Sharjah International Airport (SHJ) at 05:00 and land in Sulaimaniyah International Airport (ISU) at 06:55 local time. The return flight will leave Sulaimaniyah at 07:35 and land in Sharjah at 11:05 local time. On Fridays, the flight will depart from Sharjah International Airport (SHJ) at 15:00 and land in Sulaimaniyah International Airport (ISU) at 16:55 local time. The return flight will leave Sulaimaniyah at 17:35 and land in Sharjah at 21:05 local time. Adel Al Ali, Group Chief Executive Officer, Air Arabia, said: “We are pleased to launch this new service to Sulaimaniyah, our fourth destination in Iraq, after Baghdad, Najaf and Erbil. We continuously seek ways to enhance airline connectivity with Iraq, given the growth in business ties between the two nations. The additional route is a testament to Air Arabia’s commitment to providing affordable air travel to our growing customer base.” (Source: Air Arabia) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 27 view(s)
  • Investors Iraq News's Avatar
    Today, 04:09 AM
    By John Lee. Iraq has agreed to buy 90,000 metric tons of rice from the United States. US Congressman Ralph Abraham, M.D., R-Alto, a member of the House Agriculture Committee, said in a statement: “Iraq is buying three times more rice than we requested in our letter, so I’m thrilled that this resulted in such a successful sale.* A purchase of this great amount will have an immediate and strong impact on the American rice market, and this is certainly a testament to American rice producers, who grow the best rice in the world.” Dr. Abraham said he has led several letters to Iraq over the last few years advocating for US rice, adding that the most recent success was in August when Iraq purchased 15,000 metric tons from the United States. (Source: Congressman Ralph Abraham) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 29 view(s)
  • Wolverine's Avatar
    Yesterday, 05:22 PM
    408 replies | 15434 view(s)
  • BatmaninIraq's Avatar
    Yesterday, 10:50 AM
    Financial expert for / Nina:: Deleting zeros from the currency is a correct measure .. But not at the present time | 13/10/2018 10:19 BAGHDAD / Nina / Financial expert Safwan Qusay Abdul Halim said on Saturday that the current economic situation does not allow the implementation of the project to delete zeros from the currency due to the unstable conditions in the Middle East and the possibility of illegal local currencies looking for a way to enter the banking system the local . "The Central Bank of Iraq is trying to restore confidence in the Iraqi currency and the introduction of the international currency market and facilitate the task of calculations by deleting zeros, stressing that the current economic situation is not allowed because of the unstable conditions in the East Middle East and the possibility of illegal domestic currencies looking for a way to enter the local banking system. " He pointed out that "the project can create confusion in the monetary policy and the value of the Iraqi dinar, so the procedure to delete zeros is a correct procedure, but the current government to choose the appropriate time to replace the currency and transparent and subject to the highest degrees of control The governor of the Central Bank Ali Al-Allaq announced earlier The existence of a plan to delete the zeros from the local currency, pointing out that "this plan needs to take deliberate steps, so as not to be exploited in the work of forgery. " Alalak said in a press statement that "currencies with small categories, may lead the citizen to bid farewell to banks for difficulty to store ". " I have Alp As central a future plan for the restructuring of the Iraqi currency, including the deletion of zeros, but this plan needs to deliberate steps, and a stable situation about the whole so as not being exploited in acts of fraud and other ".
    162 replies | 26417 view(s)
  • Investors Iraq News's Avatar
    Yesterday, 04:00 AM
    The number of tourists visiting the Kurdistan Region this year reached a record high, according to Mr. Mawlawi Jabar, Chairman of the General Board of Tourism. In an interview with the Kurdistan Regional Government website, Mr. Jabar noted: “In the first six months of 2018, 1.3 million tourists visited the Kurdistan Region, mostly from central and southern Iraq. During the 11-day Eid al-Adha holiday, there were 349,000 tourists, spending 140 billion dinars in the Region. “In the first four months of 2018 there was a good influx of Iranian tourists visiting the Region. After the Iranian authorities imposed taxes on its citizens for traveling abroad, however, the number significantly decreased. Though smaller in numbers, tourists from other countries are also preferring to visit the Region.” While neighboring countries offer lower costs to Iraqi tourists, the ratio of Iraqi tourists visiting the Kurdistan Region continues to rise. Mr. Jabar added: “A comprehensive tourism development strategy has been in place since 2014, but the ISIS war and financial crises restricted implementation of strategic plans. Since 2016, however, implementation has been gradually reactivated. For example, loans have been extended to small and medium tourism projects. “The Board of Tourism has a special department for invigorating protection of the environment. To raise awareness, we are working to protect the environment through the media, publications and other awareness tools.” Regarding private sector’s role in developing tourism, he said, “Part of the strategic plan is to support the essential role of the private sector. He said Kurdistan’s tourism companies have good relations with companies abroad and play an important role in attracting tourists.” He said, “Tourism investment has rapidly grown in the Kurdistan Region and its effectiveness is illustrated by the rising number of visitors and revenue.” (Source: KRG) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 44 view(s)
  • Lord Dinar's Avatar
    10-14-2018, 08:00 PM
    Is it true that when Kuwait revalue their currency in the early 1990's you were only able to cash in within that country and not from the US Banks? If so, can this happen with the Iraqi Dinar RV as well?
    0 replies | 105 view(s)
  • dollarsign's Avatar
    10-14-2018, 12:58 PM
    Since the lifting of EU sanctions on the CBI, a rise of discontent over the dollars global position has been evident. From the EU's Juncker, to Indonesia as the IMF wraps up meetings there this weekend, outrage has increased. From Al Arabiya Until a few decades ago, any idea of straying away from the petrodollar was seen as a direct threat to American global hegemony, requiring of a military response and one of the causes of the US invasion of Iraq was that Saddam Hussein had decided to move away from the US dollar as a currency for Iraqi oil exports and instead linked it to the Euro, making other oil producers like Venezuela and Iran to mull the same. hasn't done much for the exchange rate of either country... $
    156 replies | 25752 view(s)
  • James's Avatar
    10-14-2018, 09:37 AM
    Here is some reading material about the ISX. (In ENGLISH) http://en.idc-stocks.com/news?ID=7269
    0 replies | 89 view(s)
  • Investors Iraq News's Avatar
    10-14-2018, 04:00 AM
    The Al-Bayan Center for Planning and Studies has just published a new report by*Hayder al-Khafaji on electricity generation in Iraq: Meeting energy needs in a manner that achieves security for Iraq has become a major source of concern for the electricity sector in the country; with the industry claiming that it lacks the capacity to meet current peak demand, especially with production running at about 50% of the country’s requirements. There is little doubt that over the coming years peak demand for electricity will greatly exceed the capacity of existing power stations. In view of the aforementioned, the need for the construction of new power stations has never been more pressing, however, it will not be without certain obstacles, most significantly the availability of fuel and other unforeseen technical problems, such as breaches of the contracts for the construction of new power stations. Iraq’s electricity generation problems are not new. Historically, the country has suffered from severe power shortages since 1990, which were further compounded after 2003 by the unworthiness of the old power generation plants and the acts of sabotage during the intervening years. All this culminated in prolonged power cuts lasting anything between 14-20 hours a day; forcing ordinary people to rely on private neighbourhood generators and/or small household generators, both of which have added a considerable financial burden on people. Please click here to download the full report. (Source: Al-Bayan Center) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 46 view(s)
  • Investors Iraq News's Avatar
    10-14-2018, 04:00 AM
    After five months of political uncertainty, Iraq finally has a new prime minister. On October 3, Iraq’s newly named president, Barham Salih, picked Adel Abdul Mahdi, an independent Shia politician, to be the next prime minister and form a government. The appointment of Mahdi may have provided an opportunity to calm the protests that have roiled the southern Iraqi city of Basra since July. Unrest in Basra escalated to levels high enough for the United States to shut its consulate in the city on September 28. The unrest reflects a changing Iraq—one in which many citizens will no longer tolerate an unaccountable government. The full article can be viewed here. (Source: Atlantic Council) * Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 73 view(s)
  • Wolverine's Avatar
    10-13-2018, 09:41 PM
    408 replies | 15434 view(s)
  • Investors Iraq News's Avatar
    10-13-2018, 04:29 PM
    GardaWorld, a global leader in comprehensive security and risk management, has made its weekly security report available to Iraq Business News readers. Prepared by GardaWorld’s Risk Analysis Team in Iraq, this essential report includes short- and medium-term outlooks on the security situation, reports and commentary on recent significant events, and a detailed overview of developments across the country. Please click here to download the latest report free of charge. For more information on how GardaWorld’s services can support your business in Iraq, please contact Daniel Matthews, Senior Director Iraq, at daniel.matthews@garda.com Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 67 view(s)
  • BatmaninIraq's Avatar
    10-13-2018, 04:24 AM
    The currency of the relations” appear in the market amid objections “The currency of the relations” appear in the market amid objectionsOctober 11, 2018 – 10:11 Sumer News: On Thursday, October 11, 2018, the new edition of the Iraqi currency with its various categories, named after the central bank governor Ali Al-Aalak, was circulating on the market despite widespread objections. The market witnessed trading of this currency despite the popular and parliamentary objections on the name of the relationship, the new edition.
    162 replies | 26417 view(s)
  • Investors Iraq News's Avatar
    10-13-2018, 04:00 AM
    By John Lee. Iran’s private banks have reportedly laid the groundwork for setting up a joint bank with their counterparts in Iraq. Yahya Al-e Es’haq (pictured), head of Iran-Iraq Chamber of Commerce, is quoted as saying that the bank would operate under the regulations of central banks of the two countries to facilitate money transfer. (Source: Xinhua) (Picture Credit: Tasnim, under Creative Commons licence) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 60 view(s)
  • Investors Iraq News's Avatar
    10-13-2018, 04:00 AM
    The Federal Republic of Germany, UNDP’s Iraq Crisis Response and Resilience Programme (ICRRP), along with the administrative authorities of Halabja and Sulaimaniyah Governorates and Garmiyan and Raparin Administrations today initiated 12 projects to improve essential services for an estimated 680,000 people. The projects target critical needs in the electricity, water, roads, and sewerage sectors and provide jobs for 819 people – including host community members, Syrian refugees and IDPs. At the ceremony to launch the projects, the Deputy Governor of Sulaimaniyah, H.E Mr. Ahmed Ali Ahmed, said: “Today we are signing agreements with UNDP to launch infrastructure projects with a total budget of close to US $2.5 million across Sulaimaniyah Governorate and Garmiyan and Raparin Administrations. This generous support from the Federal Republic of Germany, and collaboration with UNDP, comes as the KR-I continues to suffer from a severe economic crisis that began in 2013. “Many challenges and increased pressure due to the large number of IDPs and refugees who are settling in the Kurdistan Region will be addressed through these fundamental basic-services projects, including improved electricity, water, roads, and sewerage systems.” The Deputy Governor of Halabja, H.E Mr. Kawa* Ali Kareem, added: “On behalf of the inhabitants of Halabja Governorate, including the IDPs, refugees and host communities, the office of Governor of Halabja expresses sincere gratitude and appreciation to the Federal Republic of Germany and UNDP’s Iraq Crisis Response and Resilience Programme (ICRRP) for supporting implementation of four important basic services projects that will improve internal roads and sewerage systems. “Implementation of these infrastructure projects will benefit close to 107,000 community members and create over 255 temporary job opportunities in Halabja alone.” The construction of effective wastewater and sewerage networks across Sulaimaniyah City, Qaladiza, Hajiawa and Khurmal Sub-Districts, and Hawari-New Neighbourhood in Kifri City, will reduce environmental pollution and the spread of diseases amongst vulnerable populations during periods of high rainfall. In Sulaimaniyah City, the construction of an electricity distribution network will provide regular electricity supply to hospitals, schools, and water supply stations – benefitting the whole community. In 2018, with continuous funding from the Federal Republic of Germany, ICRRP and governorate authorities in the Kurdistan Region or Iraq have supported 28 projects benefiting over 1,240,121 host community members, IDPs and refugees and providing livelihood opportunities for 1,273 individuals. UNDP’s Iraq Crisis Response and Resilience Programme (ICRRP) promotes the recovery and resilience of communities vulnerable to multi-dimensional shocks associated with large-scale returns and protracted displacement of Iraqis and Syrian refugees.* This is achieved through a medium-term, programming integrating crisis management capacity building, rehabilitating basic service infrastructure, livelihood recovery and social cohesion. (Source: UNDP) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 73 view(s)
  • Investors Iraq News's Avatar
    10-13-2018, 04:00 AM
    By John Lee. Turkey has announced that it will increase water supplies to Iraq to compensate for a drop in supply from Iran. According to Abu Dhabi-based The National, Iran has said it will cut water supplies to Iraq to prioritise projects within Iran. Turkey depends on water from the Tigris to fill a reservoir behind its new Il?su dam. This summer, Iraq’s agriculture ministry banned the growing of water-intensive crops due to shortages. (Sources: The National, Sabah, Rudaw) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 77 view(s)
  • BatmaninIraq's Avatar
    10-13-2018, 01:38 AM
    Iraq issues new Banknote Designs 12th October 2018 By John Lee. The Central Bank of Iraq (CBI) has released a series of new banknote designs, which will enter circulation next week. According to a report from Rudaw, the notes are intended to modernise the currency and better reflect the nation’s heritage and diversity. It adds that the CBI does not plan to recall old banknotes.
    162 replies | 26417 view(s)
  • Wolverine's Avatar
    10-12-2018, 01:49 PM
    408 replies | 15434 view(s)
  • dollarsign's Avatar
    10-12-2018, 11:25 AM
    Indonesia Sees Need for Alternatives to Dollar (1:21 p.m.) Thomas Lembong, chairman of the Indonesia Investment Coordinating Board, opened up the Bloomberg Modern Markets conference with a broadside against the dollar. He notes tectonic shifts against the greenback, citing comments from Russian President Vladimir Putin and others, about the need for alternatives to the dollar and the need for an alternative trading system. He said the dollar causes complications for emerging economies, though it’s not going away anytime soon. Indonesia has been swept up in the market turmoil triggered by rising U.S. interest rates and a stronger dollar, which has pushed the rupiah down 11 percent this year. “The challenge today is not its dominance but it’s over dominance.” Yeah, try the word HEGEMONY, and yes, it will increase the value of the IQD, like it or not... $
    156 replies | 25752 view(s)
  • dollarsign's Avatar
    10-12-2018, 10:49 AM
    https://ekurd.net/iraqi-new-dinar-banknote-2018-10-07 However, it is the 1000 dinar note that seems to be getting the most significant makeover. $
    156 replies | 25752 view(s)
  • BatmaninIraq's Avatar
    10-12-2018, 10:23 AM
    Central Bank: delete the zeros still exists and the monetary bloc amounts to 44 trillion dinars , said the Iraqi Central Bank on Thursday that the deletion of zeros still exists, indicating that the amount of money supply in the market of 44 trillion dinars. The release manager lockers agency Abdul Karim Hassan Shannon in an interview with Alsumaria News that " the project to delete the zeros of the Iraqi currency is still valid , " adding to that " the project was supposed to initiate during 2014 , but the control of the organization Daesh five provinces led to Delay it. " "The project to delete the zeros is to delete three zeros from the current currency with the introduction of large currencies and the introduction of coins for the dinar parts." Shannon pointed out that "the cash mass currently circulating in the markets is large, amounting to 44 trillion dinars," noting that " Iraq did not use the technological methods of payment, and therefore small groups of currency can be perishable for widespread use." The Central Bank in 2011 put forward a project to delete the zeros for the structure of the currency, which was considered by the bank to transfer Iraq from the country of trillions to billions, that the project was met with great opposition by specialists and politicians in parliament.
    162 replies | 26417 view(s)
  • Investors Iraq News's Avatar
    10-12-2018, 04:49 AM
    By John Lee. Russia’s Lukoil will start production at Block 10 in 2021, according to a report from Platts. The Chinese*company Bohai has started to drill the 4th well at the block in southern Iraq. In February 2017 Lukoil announced Iraq’s largest discovery of oil for twenty years at the Eridu field in Block 10, with recoverable reserves in excess of 2.5 billion barrels of crude. (Source: Platts) (Picture: Seismic Survey at Block 10) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 78 view(s)
  • Investors Iraq News's Avatar
    10-12-2018, 04:49 AM
    By John Lee. The Central Bank of Iraq (CBI) has released a series of new banknote designs, which will enter circulation next week. According to a report from Rudaw, the notes are intended to modernise the currency and better reflect the nation’s heritage and diversity. It adds that the CBI does not plan to recall old banknotes. (Sources: CBI, Rudaw, Xinhua) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 91 view(s)
  • Investors Iraq News's Avatar
    10-12-2018, 04:49 AM
    Advertising FeatureRabee Securities Iraq Stock Exchange (ISX) market report (week ending: 11th October 2018). Please click here to download a table of listed companies and their associated ticker codes. The RSISX index ended the week at IQD660 (-2.4%) / $705 (-2.4%) (weekly change) (-18.7% and -15.7% YTD change, respectively). The number of week traded shares was 2.6 bn and the weekly trading volume was IQD1.5 bn ($1.3 mn). ISX Company Announcements The Central Bank of Iraq (CBI) announced that it will hold its fourth annual conference on Dec. 10, 2018. Conference themes will be about the developmental dimension of monetary policy and the role of financial technology in economic development. (CBI) Mosul Bank (BMFI) will hold an AGM* on Oct. 18, 2018 to discuss and approve 2017 annual financial results. ISX will suspend trading of BMFI starting Oct. 15, 2018. Ashur International Bank (BASH) resumed trading on Oct. 11, 2018 due to disclosing 6M18 and 2017 annual financial results. Iraq Baghdad for General Transport (SBPT) resumed trading on Oct. 9, 2018 after discussing and approving 2017 annual financial results and to distribute 150% cash dividend (IQD1.50 dividend per share, 8.8% dividend yield). Gulf Insurance and Reinsurance (NGIR) resumed trading on Oct. 9, 2018 after discussing and approving 2017 annual financial results. Bank of Baghdad (BBOB) resumed trading on Oct. 8, 2018 according to ISC decision after providing answers to ISC regarding its questions about its 2017 annual report related with the following items; shipping documents account, mutual accounts, accounts receivable, projects under construction and law suits. Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 80 view(s)
  • Investors Iraq News's Avatar
    10-12-2018, 04:49 AM
    The World Bank Group, the Government of Iraq, and the Government of Canada launched today a US$1.95 million grant to support Iraq’s efforts to strengthen systems and deliver programs to empower women economically and politically. The “Gender and Social Protection in Iraq: Towards Economic Empowerment” program consists of two complementary components: the first component will set in place long-term legislative and institutional capacity for gender mainstreaming, while the second will introduce programs that will support the economic and political empowerment of women in Iraq, including entrepreneurial programs for poor and vulnerable women. Saroj Kumar Jha (pictured), World Bank Mashreq Regional Director, said: “We are excited to partner with the Government of Canada to support women’s empowerment in Iraq. We are committed to supporting women in Iraq and we’ll work tirelessly to ensure that Iraqi women have the opportunity to participate fully in all facets of life and to contribute to Iraq’s socio-economic development.” This project contributes to the wider World Bank’s socio-economic intervention in Iraq and is consistent with the Iraq’s Second Poverty Reduction Strategy and the Social Protection Strategic Framework. H.E. Dr. Mehdi Al-Alak, Secretary General of the Council of Ministers, said “The program will support the ongoing gender empowerment efforts led by the government. It will help us achieve women’s empowerment by reducing legal, institutional, and social constraints and unleash their talent and energy to make our economy and society stronger.” Ambassador Paul Gibbard, Canada’s first resident Ambassador to Iraq since 1991 “Canada recognizes that supporting gender equality and the empowerment of women is the best way to build a more peaceful, more inclusive and more prosperous Iraq. With our partners from the World Bank and the Government of Iraq, we will work to empower women so that they are able to play a vital role in establishing and maintaining peace in their communities—a necessary precondition for stronger economic growth in Iraq.” The “Gender and Social Protection in Iraq: Towards Economic Empowerment” program will entail a review of existing women’s empowerment programs and provide technical support through workshops and working sessions to government officials on enhancing the design and implementation of these programs, as well as on strengthening monitoring and evaluation schemes. (Source: World Bank Group) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 65 view(s)
  • dollarsign's Avatar
    10-11-2018, 04:14 PM
    https://mriguide.com/updates/ need some pictures of coins and lower denominations. they're coming. ​$
    156 replies | 25752 view(s)
  • Investors Iraq News's Avatar
    10-11-2018, 01:20 PM
    By John Lee. The Basra Oil Company (BOC) reportedly plans to increase production* from 3.2 to 5 million barrels per day over the next seven years. According to Platts, BOC directror Ihsan Ismaael told the CWC Basra conference in Istanbul that the increased production would be sustained for at least 20 years after that. Among the projects being considered are three new subsea pipelines replacing the old pipelines leading to the Khor al-Amaya Oil Terminal (KAAOT) and the al-Basra Oil Terminal (ABOT), adding up to 3 million bpd of new export capacity. ABOT is currently operating at just under half its capacity of 3.5 million bpd due to the risk of pipeline rupture, while the 350k-bpd KAAOT (pictured) has been offline because of oil leaks when the pipeline is pressurised high enough for loading to be economical. New pipelines and storage pumping at the Fao terminal would also allow the four installed single point mooring buoys (SPMs) to reach their capacity of 900,000 bpd each — up from about half that now — and potentially add a fifth SPM. More here from Platts. (Source: Platts) Source: Iraq-BusinessNews.com. Post your commentary below.
    0 replies | 85 view(s)
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