*******World leaders discuss the energy sector in Iraq

This article is interesting, and yet there is another meeting next month too!



08.28.2012 BAGHDAD - Abdul Ali Salman

Iraqi energy market has all kinds and especially oil with international energy companies interest for many reasons, including these companies search for opportunities to invest their money in addition to its quest to meet the increasing demands for energy at a time when oil stocks world of this article decreasing. It has used many of the countries and companies to issue reports incorrect oil stocks have to reassure the markets. And if Iraq is suffering from a shortage of electric power sources it turn includes significant stocks of oil and gas energy.

In this context, to be held from 17-20 September in Istanbul, Turkey, a conference on the energy sector in Iraq, comprised of representatives of the major international oil companies and government officials in order to build a successful energy sector and a flourishing in Iraq according to what it said «want Arbia.

On the first day of the conference will focus on the growing need for electricity in Iraq. At the present time are produced up to 8 thousand MW while there is a need to an estimated 14 thousand MW.

In 2011, Iraq announced his plan electrical and spending $ 27 billion for the period from 2012 until 2017. And will be unveiled on the progress made in the implementation of a short-term plan for the rehabilitation and expansion of the national electricity grid by 2015.

In addition, it will discuss the problems of infrastructure for energy generation as well as imports and exports with neighboring countries, along with possible alternatives and solutions.

In the second day of the conference begins the main oil and gas in Iraq and we will see more details of the plans and the next round of licenses and their impact on Iraqi oil and gas, and energy sub-sectors.

Moreover returns will be discussed fourth licensing round for 12 exploration area took place in April / May 2012 and future projects.

The newsletter quotes Ginanda Sheth, Director in Energy Xjing saying: «Iraq has identified its goal to reach a production capacity of about 12 million barrels per day by 2017, but the lack of adequate infrastructure prevents significant growth. Were designed «Iraq Future Energy 2012 to provide stakeholders with a comprehensive analysis of the construction necessary to create a strong presence for them in the country, in order to take advantage of all the opportunities the current and future investment.

OPEC has recently announced that Iraq's production of crude oil rose to more than 3 million barrels per day in July 2012. For his part, President of Lukoil in the Middle East, Iraq can be up to 5 million barrels per day, but warned that the output depends on the development pipeline.

At the present time the Iraq exported 80 - 90 per cent of its exports of oil and gas through two lines only. Future Energy explores alternative export routes, including international pipelines, Nabucco pipeline and the Kirkuk - Ceyhan.

The next day will be dedicated to oil and gas conference to the growing developments in the refining sector in Iraq, which includes plans for the rehabilitation of existing facilities to enhance the capacity with the implementation of more recent strategies, as well as the development of new refineries to support increased oil production.

The day will conclude a round-table discussion focused on competent human resources in order to develop and train the existing workforce to achieve the technical expertise to enhance the future of the oil and gas industry in Iraq. And These industrialists professionals will definitely need to attract foreign investment and business by facilitating visas, insurance and security operations.

The fourth and final day of the energy of the future in Iraq 2012 will contain the two. The first session will deliver a detailed look at the new laws on companies in Iraq. While the other will focus on financing structures and the latest models of energy projects in Iraq.


And on the investment of petroleum energy concerned in this regard is divided in Iraq into two main sections: the first is outside the circle of the formal decision finds that oil and Peripherals depleted energy should be invested rationally take into account future generations and Iraq's interest in the non-extracted 'full' in a short time. Especially since the huge financial returns which Sttkds will not have the same value later due to the fact that says «The dollar today equals cents tomorrow.

Suffice here to know the difference between day and JOD yesterday and this applies to any other currency. Any that what is sold today for $ 100 can be sold tomorrow or the day after weakening this price because of the increased demand and lower the monetary value of the currency that will be buying.

And see this team also sought to raise the potential extraction to significant levels designed to cover the deficit, which will hit the oil markets because of low stocks many countries not only will not serve Iraq, said the product is first or second in the world It is not going give him the status of an influential political but will be subject to the requested » adults and Saudi Arabia best proof of that. And Iraq would have to provide 'stores' for its oil extracted oil that is not sold immediately, which will contribute to lower prices. Iraq in the end is not responsible for the needs of others. And increasing production will be devoted unilateral Iraqi economy, which will depend on oil as the sole source of revenue almost.

The other group sees the necessity of raising production to maximum capacity in order to bring the largest possible foreign currency to Iraq to be a rich country in the region live his in Bahbubh. Which would give Iraq custodian position to provide for the needs of consumers and can provide the necessary financial cover for the establishment of integrated infrastructure be a prelude to Iraq's entry into the next era.

And Iraq this Cioffi including the International Monetary Fund (IMF) wants and be able to cover the budget deficit and restructure and regulate its oil industry in line with the development projects.


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