Page 9 - Al-Rashed Newsletter June 19

IRAQ MUSINGS
IRAQ NEWS

Iraq to eliminate gas flaring by 2022
Iraq aims to eliminate flaring of gas from its southern oil fields, which has
led to billions of dollars of lost revenue by 2022, according to the country's
energy minister.
“We are flaring lots of gas, especially in the south but at the same time,
there are plans being conducted, executed to meet our objective. Our
objective is zero flaring in the coming years. I cannot give you an exact
month or year but we have to know what we are dealing with," Thamir
Ghadhban told CWC Iraq Petroleum conference in London.
"With time, say by 2022 to be more specific, I would say most of the flared
gas in Basra will disappear," added Mr Ghadbhan, who is also Iraq's deputy
prime minister.
The World Bank estimates around 16 billion cubic metres of gas from Iraqi
fields was flared in 2015, costing the economy billions in lost revenue. The
loss of gas associated with oil production is particularly costly for Iraq,
which experiences frequent outages across its power infrastructure,
crippled by war. A 2018 study by Siemens found that Iraq could save about
$5.2 billion over the next four years by reducing gas flared from its fields in
addition to other power generation efficiency efforts. The country has
prioritised the rehabilitation of its utilities sector and has invited
multinationals such as Siemens and GE to help rebuild the infrastructure.

Ankara, Baghdad to look for ways to raise trade volume to $20B target
Two important regional actors, Turkey and its southern neighbor Iraq have
been accelerating their efforts to further improve their deepening ties in
every area, particularly after the establishment of the new government in
GOOD, BETTER, Baghdad. The will to boost cooperation has also been reflected in the
recent high-level bilateral visits. Turkey has set up a group to solve Iraq's
BEST. NEVER LET IT
water problem, an issue that has also been one of the primary issues
REST. 'TIL YOUR discussed between the officials of the two countries.

GOOD IS BETTER

AND YOUR BETTER
IS BEST.

Source: www.national.ae, www.dailysabah.com