$8bn New Iraqi Energy Agreements with US Firms
Posted on 24 August 2020 . Tags: Artawi, Baker Hughes, Chevron, Dhi Qar, exploration, featured, flaring, gas capture, General Electric, Honeywell, mn, Ratawi, Samawah, Stellar Energy, United States
The following commercial agreements worth as much as $8 billion were reached during a signing ceremony between U.S. energy companies and the Government of Iraq on August 19, 2020:
- Honeywell and the Ministry of Oil agreed to advance the development of the Ar Ratawi [Artawi] gas project, which will further enable Iraq to capture, process, and utilize indigenous gas resources to meet domestic energy demand.
- General Electric and the Ministry of Electricity committed to three agreements that will help increase reliable access to electricity in Iraq, including efforts related to GE's existing generation maintenance program, addition of combined cycle units at the Dhi Qar and Samawah power plants, and collaboration on strengthening Iraq's electricity grid and interconnection with neighboring countries.
- Stellar Energy and the Ministry of Electricity concluded a front-end engineering and design agreement that will help advance deployment of turbine inlet air chilling technology on more than 30 turbines, which will increase power sector efficiency by as much as 30 percent.
- Baker Hughes and the Ministry of Oil agreed to further collaboration on flare gas-to-power opportunities, and deployment of U.S. oil field services and equipment.
- Chevron and the Iraqi Ministry of Oil outlined a framework for entering into exclusive negotiating on an exploration, development, and production contract in the Dhi Qar Province.
US Secretary of Energy Dan Brouillette (pictured) said:
"As two of the top oil producers in the world, the United States and Iraq share an appreciation for how energy shapes our economies and can strengthen our respective security.
"That is why I was thrilled to join Prime Minster Kadhimi, Minister Ismael, and Minister Hantoush today for an event featuring this prestigious Iraqi delegation and our great American energy companies. Together, we laid the groundwork for commercial partnerships worth up to $8 billion.
"These deals are key to Iraq's energy future, and I am confident that the same companies that have empowered the United States to become energy independent will deploy their deep expertise to help Iraq achieve its full potential in the energy sector."
(Source: US Dept of Energy)
Posted in Iraq Oil & Gas News 6 Comments
Fixing Iraq's Power Sector
Posted on 21 August 2020 . Tags: Electricity In Iraq, featured, Luay al Khatteeb, Middle East Institute, mn
By Luay al-Khatteeb for The Middle East Institute. Any opinions expressed here are those of the author(s) and do not necessarily reflect the views of Iraq Business News.
Iraq's long-running electricity dilemma is now a daily source of public misery.
The struggle of the power generation and distribution system to keep up with relentless demand caused by almost free electricity, especially as temperatures soar to record levels of over 120 degrees, is likely to get worse without reforms.
While the problems facing this critical sector may be numerous and complex, they can be solved.
During my tenure as Iraq's minister of electricity, from October 2018 through April 2020, we were able to put in place plans to make the sector sustainable and briefly reverse its downward spiral.
Posted in Iraq Industry & Trade News, Iraq Public Works News, Politics Comments Off on Fixing Iraq's Power Sector
GE Wins $1.2bn Iraq Electricity Contracts
Posted on 20 August 2020 . Tags: Electricity In Iraq, featured, GE, mn, United States
From GE:
With growing demand for electricity, especially to meet the requirements during peak summer, the Government of Iraq is accelerating its focus on strengthening the nation's power infrastructure through two new agreements signed with GE.
A long-term partner committed to meeting the future electricity needs of the nation, GE signed the agreements, valued at over US$1.2 billion, with the Iraqi Ministry of Electricity to execute the power sector projects that will secure reliable power supply across the country.
Accordingly, GE Gas Power will undertake contracts valued at US$500 million for the upgrade and maintenance of key power plants in the country, which are mission-critical to sustain the power supply of over 6,000 MW and scale up operational efficiency.
Further, GE's Grid Solutions, having secured a contract valued at US$727 million in a landmark agreement, will reinforce Iraq's transmission network and interconnection with the electricity grid of Jordan.
In addition to delivering the scope of services, GE will also work with multiple export credit agencies to facilitate the discussion of financing over US$1 billion for the projects.
In the presence of HE Mustafa Al Khadimi, Prime Minister of Iraq, senior officials of the Iraqi and US governments, the agreements were signed by HE Majid Al-Emara, Iraq's Minister of Electricity and Michael Eshoo, Vice President & CFO, GE Gas Power.
A clear action plan for successful power generation
HE Majid Al-Emara, Iraq's Minister of Electricity, said:
"Our primary focus is to deliver uninterrupted electricity, especially during summer months, to meet the needs of our people and industry. To achieve this, we have already rolled out a clear action plan. Bringing world-class technology, especially to upgrade our power plants, and to ensure their seamless operation is a critical part of this strategy.
"The new agreements with GE, a leader in power technology, is an ideal fit for our requirements, and builds on the strong partnership we have with the company to deliver more power for the nation."
Scott Strazik, CEO for GE Gas Power, said:
"GE has a long history in Iraq, and we continue to deliver on our promise to the nation and its people. In recent years, we have further accelerated our project execution to scale up and rebuild the country's electricity infrastructure. As demand for power increases in tune with a growing population and to support industries and developmental projects, identifying gaps and addressing them is our focal area.
"We are thankful to the Iraqi government for their confidence in our capabilities to deliver power where and when needed. The new agreements will contribute to a more reliable and stronger power infrastructure, which is the top priority of the government."
Heiner Markhoff, Vice President and CEO of Grid Solutions at GE Renewable Energy, said:
"This agreement is about more than electricity generation. It is about putting in place the necessary grid infrastructure and a sustainable approach to progress that will allow Iraq to truly drive forward positive change throughout the nation.
"We are incredibly proud to be able to continue to support the growth of a reliable and sustainable electricity infrastructure in Iraq. This partnership will be able to bring power to millions of people and enable economic development in the country."
Upgrades, maintenance and service
The service agreement is a mission-critical Maintenance & Upgrade Program between the Ministry of Electricity and GE Gas Power to execute the maintenance program across multiple sites in Iraq. GE will deploy its latest technology at the sites to be identified by the Ministry such as parts, repairs and services for power plants in Basra, Mosul, Baghdad and Karbala among others, which will maintain the supply of over 6,000 MW of power. This builds on 1.575 GW of new capacity that GE added since December 2019, and the sustained delivery of 4.325 GW to meet peak summer demand.
The reinforcement of Iraq's transmission network
The agreement signed by GE's Grid Solutions with the Ministry of Electricity will reinforce Iraq's transmission network and interconnection with the electricity grid of Jordan, which will contribute significantly to decongesting the grid and securing reliable power supply. GE will execute the design, supply, installation testing and commissioning of high voltage substations and specific overhead transmission lines. This is a key initiative that will reinforce the smooth operations and delivery of uninterrupted power of the national grid across Iraq, including the liberated areas, which were adversely impacted during the strife supporting their reconstruction.
Committed partner in the progress of Iraq
GE is a committed partner in further strengthening the country's energy infrastructure to meet the needs of the future. Building on its presence in the country for over 50 years, GE not only partners on short-term power generation to meet the peak summer demand but also on large-scale projects that will generate substantial power to meet residential and industrial needs. GE has also helped secure over US$2.4 billion in financing for energy sector projects in collaboration with export credit agencies, commercial banks and other organizations. With more than 300 employees, including FieldCore, a GE company, in Iraq currently, nearly 95 percent of them Iraqi professionals, GE's teams are deployed in the toughest locations, bringing power where it is needed most.
(Source: GE)
Posted in Iraq Industry & Trade News, Iraq Public Works News 1 Comment
Joint Statement on US-Iraq Strategic Dialogue
Posted on 20 August 2020 . Tags: featured, mn, Mustafa al-Kadhimi, United States
The text of the following statement was released by the Governments of the United States of America and the Republic of Iraq:
The Government of Iraq, led by Foreign Minister Fuad Hussein, and the Government of United States, led by Secretary of State Michael Pompeo, held a meeting of the Higher Coordinating Committee today in Washington, D.C. as described in the 2008 Strategic Framework Agreement for a Relationship of Friendship and Cooperation between the United States of America and the Republic of Iraq (SFA). The two sides reaffirmed their commitment to a robust and productive bilateral relationship. Separate sessions covered economics, energy, health and environment, political and diplomatic issues, security and counterterrorism, and education and cultural relations.
In the economic session, Iraq outlined its ideas for economic reform plans that would unleash faster growth and a more vibrant private sector. The United States reiterated its support for Iraq's economic reforms and identified areas of cooperation that could help Iraq implement its plans. Both countries discussed coordination with international financial institutions to help Iraq recover from low oil prices and COVID-19 and put the country on a more sustainable fiscal path. Both nations plan to cooperate on e-government, financial sector reforms, and private sector partnerships to boost U.S.-Iraq trade and investment. The two governments look forward to holding a Trade and Investment Framework Agreement (TIFA) Council meeting later this year to follow up on the June 2019 meeting.
In the energy session, the United States and Iraq discussed the Government of Iraq's efforts to increase domestic electricity and gas production, reduce wasteful gas flaring, and implement energy market reforms. The two governments plan to hold an Energy Joint Coordination Committee meeting soon to discuss these topics in more detail. On the sidelines of today's meeting, the Government of Iraq signed substantial energy agreements with U.S. companies, including General Electric, Honeywell UOP, and Stellar Energy, as well as Memoranda of Understanding with Chevron and Baker Hughes, as concrete examples of the U.S.-Iraq energy partnership. Iraq and the United States noted ongoing cooperation with the International Energy Agency (IEA) to develop plans for electricity tariff reform in Iraq. The two governments plan to continue cooperation with the Gulf Cooperation Council (GCC) member-states and Gulf Cooperation Council Interconnection Authority on Iraq/GCC electricity connections and energy investment. The United States welcomed the progress in the talks between the Iraqi Federal Government and the Kurdistan Regional Government with regard to budgetary and energy issues.
In the health and environmental session, the United States and Iraq noted their ongoing partnership to combat COVID-19 and their intent to sign a Memorandum of Understanding to expand bilateral health trade. The two governments also discussed ongoing cooperation on environmental, water, and scientific issues and plan to hold a separate Joint Coordination Committee meeting on those topics.
In the political and diplomatic session, the United States reaffirmed its respect for Iraq's sovereignty, territorial integrity, and relevant decisions of the Iraqi legislative and executive authorities. The two sides discussed how the United States could best support the Iraqi government as it prepares for parliamentary elections, including by increasing support for the United Nations Assistance Mission for Iraq. Both nations reiterated their support for freedom of expression and media freedom, and the necessity to hold accountable the perpetrators of violence against peaceful protesters. The United States supports Iraq's efforts to improve relations with its neighboring states and plans to assist the Iraqi Government in this endeavor. The United States reaffirmed its continued commitment to supporting Iraq in advancing durable solutions for internally displaced persons that are voluntary, safe, and dignified, and to help those communities that have been targeted for genocide by ISIS. The two sides recognized the need to improve access for humanitarian organizations.
In the security and counterterrorism session, the United States and Iraq reaffirmed their commitment to achieving common objectives through bilateral security coordination and continued cooperation between the Iraqi Security Forces and the U.S.-led Global Coalition to Defeat ISIS. The two delegations praised the growing capabilities of the Iraqi Security Forces and their joint success in the fight against ISIS, which has enabled the Global Coalition to transition to a new phase focused on training, equipping, and supporting the Iraqi Security Forces. The Iraqi government expressed its gratitude to the Global Coalition and asserted its willingness to facilitate this transition and confirmed its obligation as host country to provide protection for the Coalition's personnel and diplomatic facilities in Iraq. Adapting to the requirements of this new phase, the Global Coalition has been able to depart from some Iraqi military bases and reduce combat forces in Iraq. The two sides plan on separate technical talks to manage the timing and transition to the new phase, including any associated redeployments from Iraq. The U.S. and Iraqi delegations recognized the progress of the Iraqi Federal Security Institutions and the Kurdistan Regional Ministry of Peshmerga Affairs in coordinating their efforts to combat ISIS remnants and discussed ways to further this cooperation.
In the education and culture session, the two governments discussed both past and current U.S. support for Iraq's efforts to strengthen higher education in cooperation with American universities in Iraq, through the Fulbright program, and through the U.S. Embassy's Higher Education Partnership initiative. The United States and Iraq identified additional ways to support Iraq's plans to address higher education reform priorities and strengthen U.S.-Iraqi university partnerships. The two sides also reviewed progress in the return of the Baath Party Archives to Iraq as an important artifact of Iraq's history. The two delegations discussed their mutual efforts to preserve Iraq's rich cultural heritage and religious diversity and reaffirmed their commitment to cooperating in the return of Iraqi cultural property illegally imported into the United States to their rightful place in Iraq.
(Source: US State Dept)
Posted in Construction & Engineering In Iraq Comments Off on Joint Statement on US-Iraq Strategic Dialogue
Unpaid Salaries fuel Protests in Iraqi Kurdistan
Posted on 19 August 2020 . Tags: featured, KRG, Kurdistan News, mn, Public Sector
By Joe Snell for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
Outraged after months of not receiving salaries, regular electricity outages and a failure to provide local business bailouts, protests erupted last week in northern Iraq against the Kurdistan Regional Government (KRG).
Posted in Politics Comments Off on Unpaid Salaries fuel Protests in Iraqi Kurdistan
PM meets Trump: What Outcome for Iraqi Economy?
Posted on 18 August 2020 . Tags: Donald Trump, Dr Amer K. Hirmis, featured, mn, Mustafa al-Kadhimi, United States
By Dr Amer K. Hirmis, Capital Business Strategies Ltd. - UK.
Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.
Iraq's PM meets the President of the United States...
What outcome...for the Iraqi economy?
Introduction
This Thursday, August 20th, the "President Donald J. Trump will welcome Prime Minister Mustafa Al-Kadhimi of the Republic of Iraq to the White House...As close partners, the United States and Iraq will look to expand (their) relations across a range of issues, including security, energy, health care, and economic cooperation." [1]
The question is: what does each side expect, indeed wish, the outcome of the talks and negotiations should be?
Here, some aspects of the potential for 'economic cooperation' between Iraq and the U.S., in the near/medium term are covered.
A likely U.S. perspective
Contextualising the US perspective, one could speculate that its strategic interests in Iraq, and the Middle East generally, can no longer be secured by exchanging oil for political support and the export of arms. The last 100 years have shown that this is not a sustainable position, and it must change. Stability in Iraq, though, is critical for securing US's strategic interests. Having invested enormous human, financial and political capital in Iraq, the US would encourage the establishment of a diversified, "free-market", economy based on increased employment in productive sectors (thus alleviating poverty), good governance and rule of law. The US could help in tackling pervasive corruption (a major economic cost and hazard to doing business in Iraq) in part by deploying advanced technology.
More specifically, The US recognizes the existentialist economic challenges facing Iraq in light of these three crises: the post-2003 disastrous economic policies that nurtured widespread corruption, increased the economic power of (Iran-backed) influential personnel within/without the state apparatus and the (armed and well-financed) Hashd militias; the COVID-19 pandemic; and, finally, the severe decline in oil prices, in March/April of this year.
The US also recognizes that Iraq should enact fundamental economic reforms, which, from a US view point should consider:
- The 2008 Strategic Framework Agreement (SFA) with Iraq. The fourth point in the Preamble emphasizes "the building of a diversified and advanced economy that ensures the integration of Iraq into the international community." This is echoed in Section V of the SFA. Section V (point no. 7) which goes further to say "Facilitate the flow of direct investment into Iraq to contribute to the reconstruction and development of its economy." The US would assert that the 2008 SFA is a reasonable and rational vehicle to do so, providing there is a strong political will, and public acknowledgement of the constructive part both parties should play, without which democracy in Iraq will not take root in the long-run;
- Making use of US economic advisors to work directly with the Government of Iraq to help advance international support for Iraq's reform efforts, including from the international financial institutions. They know that Iraq may not concur on all parts of this point; there is already a wealth of research by economic experts pointing to what needs to be done to initiate economic development in Iraq. The time now is for action - i.e. policy implementation, and soon. Iraq might argue that this (al-Kadhimi's) government needs to demonstrate its worth for the people of Iraq, given the planned general elections in June 2021;
- The enactment of 'firm plans for fundamental economic reforms' soon; the enactment of these plans by parliament is a pre-requisite for US involvement in investment projects in Iraq. Arguably, Iraq must soon create the conditions for foreign investment to take place on a wider scale, and reverse the recent decline of FDIs in Iraq, as the 2019 UNCTAD report indicated. The conditions for doing business in Iraq must change soon, and become favourable - these, as the 2020 World Bank's 'Doing Business in Iraq' report shows, are diverse. To pick one example, the US side might point to the weakness of the banking system, let alone its near-impossible conditions for extending credit to potential investors. These huge problems facing investment in Iraq are also well-known to, and appreciated by, the Minister of Finance, Ali Alawi, and senior civil servants, including those working at the PM Office; and,
- Petrochemicals and electricity might be priority investment fields from a US perspective, as they might be able to make a swift impact on the domestic market, though this would require dealing with reported corruption within this sector including in the areas of illegal connections to the grid, and contracts awarded for distribution/transmission of electricity. This means that Iraq would need to swiftly deal with the 'deep state' that engenders corruption in this and other sectors of the economy.
Finally, the US side might argue that its support must not be one-sided. It must be reciprocated by effecting tangible changes in the economy and political system, amongst other things. Otherwise 'the potential for investment projects involving world-class U.S. firms in the energy and other sectors' might not proceed.
To survive, it is imperative for any economic/political relationship to be based on some common ground - in this case, a real commitment for change to initiate economic development in Iraq must be demonstrated by Iraq and the U.S. So what would Iraq's government hope to get out of the negotiations?
A likely Iraqi perspective
The Iraqi Prime Minister, Mustafa al-Kadhimi, and the team accompanying him are fully aware of the challenges they face: be they political, economic, social or environmental.
Soon after being appointed, al-Kadhimi set out his 'Government Programme' on May 6th, in which Article 3.1 states that in the short term, the government intends to handle the ramifications of the oil price crises by rationalizing public expenditure and stemming unnecessary expenditure. It also intends to develop the tax and tariff collection system. (see: https://www.pmo.iq/press2020/6-5-202002.htm). The Programme goes on to say (in Article 3.2) that a 'Development and Investment Board' would be established, this will provide a comprehensive plan for investment in infrastructure etc. al-Kadhimi's team might also point out that since his government is fully aware of the weaknesses of the banking system, the CBI (Central Bank of Iraq) has been asked to handle this problem within a specific timescale! Finally, the Programme also points out that a comprehensive reform of the administrative system will be undertaken, youth employment in the private sector will be encourages, etc.
More recently, on August 3rd, al-Kadhimi has pointed out that a 'White Paper' is being prepared dealing with the wider economic issues. His Finance Minister, Ali Alawi, had in several occasions indicated the government's awareness of the problems and promised that these will be dealt with appropriately! (see: https://www.france24.com/en/20200622-without-urgent-reform-iraq-economy-will-face-irreparable-shocks-minister-to-afp).
So the Iraqi side has a number of aspirational objectives to cover in their talks with the American side. They will, however, be well advised to be open about the long term problems Iraq's economy has been suffering from (what is called 'structural problems' to do with the GDP's composition). They should declare their vision/solutions which they might have in mind and the extent to which they think the U.S. side could, in the long-run, assist in transforming/diversifying the economy.
- One such chronic problem that the Iraq economy has been afflicted with is the historically acute negative balance of trade (when excluding the export of crude oil), as shown in the Figure below.

- Although inextricably linked to various (structural) aspects of the Iraqi economy, especially the recurrent deficits in the 'Federal Budget', the government might be well advised to bring this issue in the talks with the U.S. This provides a glaring example why it is imperative for Iraq to diversify its economy and why it will need U.S. assistance deploying the 2008 SFA, though the SFA itself might itself need to be reviewed, to be more specific in the capital investment field.
- The Iraqi delegation might be candid enough to go as far as admitting that the recurring budget deficit is not entirely due to excessive reliance on oil exports, it is perhaps mainly because Iraq hardly exports anything else of high-value-added that other countries might have a comparative disadvantage in and would otherwise import goods/services from Iraq.
- Now that is has been acknowledged by many experts that both the high rate of increase of Iraq's population and the likely decline in oil prices as it becomes less in demand as an energy source, in the coming few decades, al-Kadhimi's wisdom (or perhaps his survival instinct) might lead him to believe that this is a strategic priority for Iraq, and that if the U.S. is genuine in its desire to assist Iraq, this is where the emphasis should be - rectify the balance of trade (excluding oil) over the next 20-30 years, driven by the private sector with an enabling public sector.
Would al-Kadhimi opt for this direction of travel, and, if he did, will he adjust his thought process to make this the major strategic economic objective for Iraq?
The Joint-Statement
It is anticipated that the 'joint Statement' it issues will be drafted in the most diplomatic, courteous, and respectful manner. It is likely to postulate the existence of good relations between the U.S. and Iraq, with the former offering support and assisting to the Iraqi people to achieve their aspirations in establishing democracy, rule of law, good governance, and alleviating poverty, amongst other things (to be said in the Statement). It will probably acknowledge that the coming months will be critical in deciding the short-to-medium-term events in Iraq, given the depth of the resentment to al-Kadhimi's government in some quarters whose interest are seen to be seriously threatened.
The Joint Statement doubtless will touch on the security partnership, the anticipated elections in June 2021, humanitarian aid, the significant progress made towards eliminating the ISIS threat, over the coming months, etc.
The two sides will reaffirm the 'importance of the strategic relationship and their determination to take appropriate steps to enhance it in the interest of both countries and to achieve security, stability, and prosperity in the region.'
The time-honored dictum, though, will ring loud - that a combination of polity and economics that serves the people will thrive, and so will the country that upholds it. The polity and economics that does not serve the people will soon perish. The long history of Iraq, since early Mesopotamia, provides witness to the truthfulness of this dictum.
Both the current Iraqi and U.S. governments have now a new opportunity to choose one path or the other. We should find out soon!
Please click here to download Dr Hirmis' full report in pdf format.
* Amer K. Hirmis, August 17, 2020
Dr Amer K. Hirmis is Principal at UK-based consultancy CBS Ltd. (2008-present). In October 2009, Amer began a 20-months assignment as Senior Development Planning Advisor to the Ministry of Planning in Iraq (funded under the DANIDA programme for 'peace and reconstruction' in Iraq). The posts Amer has assumed include Chief Economist and Head of Policy at the London Chamber of Commerce and Industry (1992-5), Economic Advisor to UK South West Regional Development Agency (1996-8) and Associate Director and then Head of Consulting and Research (Middle East) at the global firm DTZ (1998 to 2007).
Dr Amer K Hirmis is the author of 'The Economics of Iraq - ancient past to distant future' [https://www.amazon.com/Economics-Iraq-Ancient-distant-future/dp/1999824105] [Chapter 6 of the book is entitled 'Monetary and Fiscal Policies'].
END
[1] (https://www.whitehouse.gov/briefings-statements/statement-press-secretary...-iraq/. The Press Statement was issued on August 7th).
In their June 2020 meeting, the respective teams preparing for the visit jointly stated that "The two countries reaffirmed the principles agreed upon by the two sides in the Strategic Framework Agreement (SFA), as well as the principles in the exchange of diplomatic notes and the letters of the Republic of Iraq to the United Nations Security Council...The United States reaffirmed its respect for Iraq's sovereignty, territorial integrity, and relevant decisions of the Iraqi legislative and executive authorities." (see: https://www.state.gov/joint-statement-on-the-u-s-iraq-strategic-dialogue/ This was released on June 11, 2020).
Posted in Amer K Hirmis, Politics 3 Comments
No quick fix for Iraq's Electricity Crisis
Posted on 14 August 2020 . Tags: Electricity In Iraq, featured, heatwave, mn, Protests
By Omar Sattar for Al Monitor. Any opinions expressed here are those of the author and do not necessarily reflect the views of Iraq Business News.
No quick fix for Iraq's Electricity Crisis
The heat wave in Iraq has raised the ire of citizens in the central and southern areas, pushing many to take to the streets once again.
The popular protests in the squares had settled down due to the coronavirus pandemic, but the searing hot weather and declining hours of electricity supply have forced the new government to once again face the protesters.
Posted in Construction & Engineering In Iraq, Iraq Industry & Trade News Comments Off on No quick fix for Iraq's Electricity Crisis
IBBC hosts Panel to review the Govt's first 3 mths
Posted on 13 August 2020 . Tags: featured, Iraq Britain Business Council (IBBC), Lehigh University, mn, Professor Frank Gunter
On Monday 10th August-a distinguished online panel of academics and an IBBC advisory panel reviewed the GOI's approach to decisions and progress.
Dr Munqith Dagher-senior associate at CSIS and CEO of IIACSS, gave a new revealing and informative presentation on public perceptions of the new GOI, and its future prospects and opportunities.
Dr Rana Khalid, head of research IRAQI FORUM POLICY MAKERS CORPORATION, commented on the benefits of expanding the private sector in Iraq.
Mr Hani Akkawi, of CCC and advisory panel member, made a heartfelt plea for the people of Iraq and Lebanon in these challenging times, and went on to articulate how the private sector can benefit Iraq and the actions required to encourage investment and expansion.
Professor Frank Gunter of Lehigh University, and author of IBBC's Iraq 2020 Report, summarised the issues facing the Government, outlined solutions, and summed up the overall situation.
Aziz Shwan Ahmed of the advisory panel completed the initial presentations with an unarguably good case for improving the power and electricity supply system as a matter of priority, be enhancing distribution networks, creating jobs, and increasing private sector contribution in the economy
Please view the panel discussion here
(Source: IBBC)
Posted in Iraq Industry & Trade News Comments Off on IBBC hosts Panel to review the Govt's first 3 mths
300MW Power Station opened near Erbil
Posted on 08 August 2020 . Tags: Electricity In Iraq, featured, Khabat, Khabat power station, korea, Korean National Oil Company (KNOC), KRG, Kurdistan News, mn, POSCO, South Korea
By John Lee.
A new 300-megawatt steam power plant has been recently opened in Khabat, on the outskirts of Erbil.
The plant, built in partnership with South Korean companies POSCO and the Korean National Oil Company (KNOC), adds 10 percent to the region's electricity capacity.
Speaking at the opening ceremony, KRG Prime Minister Masrour Barzani said that Kurdistan's gas production will also increase in the near future as part of the KRG promise to provide 24 hours electricity.
(Source: KRG)
Posted in Iraq Industry & Trade News Comments Off on 300MW Power Station opened near Erbil
Why Electricity is key to Peace, Stability and Prosperity
Posted on 02 August 2020 . Tags: Electricity In Iraq, featured, International Energy Agency (IEA), mn
By Ali Al-Saffar, Middle East and North Africa Programme Manager at the International Energy Agency (IEA), for 1001 Iraqi Thoughts. Any opinions expressed are those of the author(s), and do not necessarily reflect the views of Iraq Business News.
Powering Iraq: Why Electricity is key to Peace, Stability and Prosperity
It does not have to be this way. Iraq's chronic electricity shortages should not be this bad. The country has allocated around $20 billion to capital investments in the sector since 2012, increasing generating capacity by 13 gigawatts (GW) in the process.
And yet the gap between the electricity supplied and what is needed continues to grow, resulting in poorer service provision and a rising cacophony of legitimate public anger.
Why is Iraq's electricity sector underperforming? What can be done to remedy the most immediate shortages? And what can be done to give Iraq the electricity sector the country needs and its people deserve?
Posted in Iraq Industry & Trade News, Politics Comments Off on Why Electricity is key to Peace, Stability and Prosperity


