Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
ERBIL, Kurdistan Region - Iraq’s minister of industry said Friday that they want to facilitate for Germans to invest in his country, adding that an Iraqi top delegation in Germany has discussed the subject with related companies.
The high-level Iraqi delegation, headed by Iraqi Prime Minister Mohammed Shia’ al-Sudani, on Friday held a number of meetings with German officials in Berlin, including the European country’s Chancellor Olaf Scholz.
Khalid Battal, Iraq’s Minister of Industry and Minerals, told Rudaw’s Alla Shally on the same day that the delegation met with German investors, explaining to them the “advantages221; of Iraq’s investment law. “The law provides to investors, including customs exemptions, banking facilities, tax exemptions, and so on in the various industrial, residential and agricultural sectors.”
The Iraqi minister also said that officials and investors from the Kurdistan Region are also in the delegation.
Iraq's PM, Germany's Chancellor express optimism after Friday's meeting in Berlin
Iraq News
Breaking
2023-01-13 15:58
Shafaq News/ Prime Minister Mohammad Shia al-Sudani and Chancellor Olaf Scholz headed an expanded meeting between representatives of the Iraqi and German governments in Berlin on Friday.
Speaking in a joint press conference afterward, Prime Minister al-Sudani said the meeting heralds a "strategic relation" between Iraq and Germany.
The meeting, according to an official readout by al-Sudani's office, discussed prospects of economic joint action, plans to expand deals on fossil and renewable energy, and German investments in Iraqi infrastructure.
"Germany offered military support to Iraq in its battle against ISIS. It provided developmental support as well," al-Sudani said.
Scholz said that Germany helped Iraq recover from the atrocities committed by ISIS and continues to help achieve stability there.
"There is an opportunity to deepen our economic ties," he added, "I am pleased by the deal Iraq and Siemens concluded."
Germany is in talks with the Iraqi government over the possibility of importing natural gas from the oil-rich country, Chancellor Scholz said.
"We also talked about possible gas deliveries to Germany and agreed to stay in close contact," he added.
Baghdad has offered opportunities to German companies to invest in using Iraq's natural gas and the gas generated as a byproduct from oil production, al-Sudani said, adding that Iraq wants to deliver gas through a pipeline via Turkey to Europe.
Iraq continues to flare some of the gas extracted alongside crude oil because it lacks the facilities to process it into fuel for local consumption or exports.
Germany, which used to get 55% of its gas imports from Russia, has been seeking to diversify its LNG imports to avoid heavy reliance on a few exporters, after deals with Qatar and the United States.
Shafaq News / Iraq's Prime Minister, Muhammad Shia Al-Sudani, met on Friday with German Chancellor Olaf Scholz, in Berlin.
In a joint press conference with Scholz, al-Sudani announced signing a memorandum of understanding with German company Siemens, to increase production, improve the transmission and distribution currencies, reduce waste and ensure energy stability, pointing out that the government has made the required financial allocations to implement the agreement.
He said that they discussed Germany's opportunities to invest in associated gas and the petrochemical sector in Iraq. "We welcome German companies' contribution to developing the health, education and agriculture fields in the country."
On Iraq's foreign relations, al-Sudani said, "The government is keen to take the approach of balanced relations regionally and internationally, and supports the convergence of points of view."
"Iraq is an important country in the field of energy in terms of oil production and strategic storage. We have plans to invest in associated and natural gas, and we have huge reserves that have not been invested yet", al-Sudani revealed.
He added, "Iraq has pivotal strategic projects that are currently being implemented, including the Faw port."
US is not going anywhere: US Consul General in Erbil
“We’re in the process of building an 800-million-dollar US consulate (in Erbil), it will be the largest US consulate in the world.”
hTTps://www.kurdistan24.net/en/story/30370-US-is-not-going-anywhere:-US-Consul-General-in-Erbil
Next Monday.. The Iraqi parliament begins its legislative session
(Shafaq News: Jan 4th 2023)
"The representative of the bloc, Aref Al-Hamami, told Shafaq News agency, "The legislative recess of the parliament will end next Sunday, but the first legislative term for the second legislative year will begin next Monday, January 9."
He added, "The new legislative term will witness the reading and amendment of the election law and the amendment of the unified pension law, in addition to reading and amending the oil and gas law and many laws that need to be read in preparation for their approval within the House of Representatives."
On the 8th of last December, the Iraqi parliament entered a legislative recess for a period of 30 days, provided that it resumes its sessions as scheduled on the ninth of January.
It is noteworthy that the Presidency of the House of Representatives decided, on November 8, 2022, to extend the second legislative term of the first legislative year of the fifth electoral session, by one month, in order to "approve important laws."
https://ina.iq/eng/23920-parliamentary-agreement-on-the-legislation-of-the-oil-and-gas-law.html
"everyone agrees on the oil and gas law, and it will be legislated during the coming period."
Parliamentary expectations to resolve the oil and gas law during the current session
(almaalomah.me: Dec 28 2022)
"The representative of the Al-Fateh Alliance, Rafik Al-Salihi, expected, on Wednesday, the approval of the oil and gas law during the current parliamentary session, indicating that the situation necessitates that all political forces approve the law due to its importance.
Al-Salihi said in an interview with Al-Maalouma Agency, that "the agreement concluded within the State Administration Coalition provides for the legislation of many controversial laws, the most important of which is the legislation of the oil and gas law."
He added, "The law has been delayed for more than one parliamentary session, and it will see the light due to its importance to the country and its economic situation," adding that "this law is enacted to solve all problems between Baghdad and Erbil over the oil file."
Al-Salhi stressed that "the next legislative term will witness the presentation of the law for the first reading, provided that the law will be legislated during the current parliamentary session."
And the representative of the Patriotic Union of Kurdistan, Nermin Maarouf, had revealed in a previous interview with the information agency, the formation of a joint committee between the Baghdad and Erbil governments to prepare the draft oil and gas law."
Iraqi president arrives in Erbil flanked by a group of ministers
Kurdistan
Abdullatif Rashid
2022-12-27 19:42
Shafaq News/ Iraqi President Abdullatif Rashid arrived in the Kurdistan region's capital city, Erbil, flanked by a high-level delegation from Baghdad on Tuesday.
The region's minister of interior, Rebar Ahmed, headed the president's reception ceremony on the tarmacs of the Erbil international airport.
President Rashid is accompanied by the federal ministers of culture, migration, and water resources, as well as the secretary-general of Iraq's legislative body.
After the Erbil visit, the president will be heading to the governorate of Nineveh as a part of a tour of different Iraqi governorates.
'If' an agreement on an Oil & Gas Law has been reached - then Kurdistan MUST have approved it. They would not have approved a law that is detrimental to their interests. Whether or not that translates to be detrimental to GKP shareholders, remains to be seen. Hopefully not - but it would not bode well for 'future' investment in the region, if shareholders in their energy production, were dumped upon. Fingers crossed.......
Well said Indrid - and if Ukraine can slap Russia and inflict the damages it has already done ( admirably ! ) - then what would the combined might of NATO do !? Russia's distinct lack of military prowess, combat experience and expertise ( and uncontrolled aggression and acts of disgraceful torture / civilian targeting ) has been shown up to the eyes of the world.
Putin and Russia ( the regime not its people ) badly miscalculated what Ukraine could/would do - and ( thankfully ) a great deal of Russians themselves are beginning to wake up to this gross error of judgement.
Kurdish parliamentarian sets a fundamental condition that will end the differences between Baghdad and Erbil » Baghdad Today News Agency
Baghdad Today - Erbil
Jihad Hassan, a member of the Kurdistan Regional Parliament, said on Sunday that resolving the oil and gas issue is the essence of resolving differences between Baghdad and Erbil.
Hassan said in an interview with Baghdad Today that "resolving differences depends to a large extent on the oil and gas file, as it is the obstacle that stands in the way of ending the crises between the governments of Erbil and Baghdad."
"The solution to this issue is very simple and depends on passing the oil and gas law and dealing with it in accordance with the constitution, not on the basis of political whims," he said.
GOLDMAN SACHS EXPECTS A BUMPER YEAR FOR COMMODITIES IN 2023
By Tsvetana Paraskova - Dec 15, 2022, 7:50 AM CST
Goldman Sachs believes a supply shortage and insufficient investment in new supply will drive a bumper year for commodities in 2023. The bank expects the S&P commodity index to post a 43% return next year, led by oil, gas, and key metals. While the first quarter of 2023 may be underwhelming due to an economic slowdown, a new supercycle in commodities is looming.
Supply shortages and insufficient investment in new supply will result in a bumper year for commodities in 2023, Goldman Sachs says, expecting the S&P GSCI commodity index to post a 43% return next year. Commodities are set to be the best-performing asset class in 2023, the bank’s strategists said in a note.
“From a fundamental perspective, the setup for most commodities next year is more bullish than it has been at any point since we first highlighted the super-cycle in October 2020,” Jeffrey Currie, global head of commodities research at Goldman Sachs, wrote, as carried by The Australian Financial Review.
The first quarter of 2023 could be more underwhelming than the rest of the year due to the expected slowdown in economies, but the low levels of investment in oil, gas, and key metals will continue to underpin what Goldman has called a new supercycle in commodities.
The drop in Brent Crude to the low $80s is likely temporary, according to the Wall Street bank, which says that oil market participants could be too pessimistic about China’s demand. Key metals necessary for the energy transition are also set for a bull run amid expected shortages in the coming years, Goldman and industry giants say.
Earlier this month, mining and commodities giant Glencore said that a huge shortage of copper is looming while significant mine development is lagging. According to Glencore’s estimates, under the net-zero emissions pathway of the International Energy Agency (IEA), the world will be more than 50 million tons short of copper between 2022 and 2030.
Moreover, Goldman Sachs also said in early December that copper prices were set for a new record-high next year amid an “extremelyR21; tight market. Next year, Goldman expects copper prices to top the current record-high of $10,845 per ton that it hit in March 2022. It raised its 12-month price target to $11,000 a ton from $9,000 per ton.
By Tsvetana Paraskova for Oilprice.com