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Iraq Petroleum Conference 2015 : a New Kind of Dialogue

By on 16th June 2015 in Iraq Oil & Gas News, Madeleine White

I want to add to this with some final thoughts. Many of you will have seen articles in which I have pointed out that finding a way for women to participate as entrepreneurs and in the labour market benefits society as a whole. This, in turn, promotes economic growth. Perspectives offered at Iraq Petroleum 2015 showed IOCs crying out for stability and the internal capacity needed in terms of skilled labour.  Within this setting, working towards the inclusion of women as employees and within the supply chain must be part of the plan set out to produce 5.5-6.0 million bpd by 2020 (an increase of 60%).

In Tuesday’s Ministerial keynote session I explored whether the women’s and inclusion agendas were considerations for the Petrochemical industry in Iraq. Answers I got reflected the fact that this was still seen as an aside, ‘icing on top of the cake’ as opposed to a driving force within national economic development.

Iraq’s economy remains dependent on hydrocarbons and revenue from these resources which generate over 95% of budget revenues. So SOMO may employ 40% women but the sector as a whole only employs one per cent of the labour force[i], of this a tiny fraction are women. By setting the women’s development agenda within hard business facts for Iraq as a whole, this industry in particular will reap the benefits. An environment for growth that sees the full weight of international support behind it is possible – but to my mind to realise this, a new kind of thinking is needed, driven by the kind of in-person dialogue I saw at last week’s event.

By promoting an environment of inclusion, we show faith in each other. By adding integrity, knowledge and mutual respect into a Women’s Economic Empowerment agenda, national economic development is a natural conclusion. The Oil and Gas industry should see this as an opportunity, one that reaches beyond CSR into the very heart of  good business practice, thus ensuring that Iraq becomes an easier place to do business.

I’ll leave Chevron’s Ian MacDonald with the final word:

“ By realising the potential of human and hydrocarbon resources it is possible to improve the fabric of society...”

In other words, the buck stops here.

 

[i] Dr S Rimmer, Gender and PSD in Iraq

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16 Responses to Iraq Petroleum Conference 2015 : a New Kind of Dialogue

  1. Windell 16th June 2015 at 16:04 #

    Will someone please explain to me how is it that the IMF has granted Iraq $833M and the Iraqi Dinar remains at the same value.... I've invested in the Dinar and I'm holding on to the thought that the Dinar was going to revalue... Yet, I continue to see that everything but the dinar is going in the right direction... Case in point: Bismayha, the New City being built about 6 mile from Bagdad..this contract has to be well over $100B... How is this all happening and the value of the Dinar is going no-where... Please, someone help me to understand

  2. Windell 16th June 2015 at 16:06 #

    Will someone please explain to me how is it that the IMF has granted Iraq $833M and the Iraqi Dinar remains at the same value.... I've invested in the Dinar and I'm holding on to the thought that the Dinar was going to revalue... Yet, I continue to see that everything but the dinar is going in the right direction... Case in point: Bismayha, the New City being built about 6 mile from Baghdad..this contract has to be well over $100B... How is this all happening and the value of the Dinar is going no-where... Please, someone help me to understand

  3. Alvin 16th June 2015 at 21:13 #

    This is not new. We (the all consumed) have "Hope" on our side. We all know Iraq is a struggling country. Thieves, murderers, liars,and always someone trying to take advantage of the consumed. ( Maliki) No different than other countries that has excepted that as a norm.

    The IMF has skin in the game to, just like the US and other govorments that has commited People and resources for the end game. This takes time. Reserch the past that tells how to proceed in the future is the game. Know your people and their intent.

    Iraq is a hugh part of the middle east IF they really want to be.
    If they get the right people in the right place they can define the RIGHT TIME to be on top of the world.

  4. Re da Caste 16th June 2015 at 22:22 #

    IOCs are working for free in Kurdistan. This is not acceptable! We investors in the Kurdistan oil industri are bleeding, loosing our money and it seems there is no hope things will turn better. KRG is screeming and threatning a lot but not taking any actions, what we can see.
    I regret I ever invested my savings in Kurdistan.