Fri. AM TNT News Articles 10-8-21



Iraq signs solar power deal with UAE-based company | Middle East Monitor


Iraq signed an agreement with the UAE-based solar energy specialist Masdar on Wednesday, Anadolu has reported. The contract was signed in a ceremony held in the Iraqi capital Baghdad attended by Iraqi Prime Minister Mustafa Al-Kadhimi and UAE Energy Minister Suhail Bin Muhammad Al-Mazrouei.

According to an official media statement, also present were the President of the Iraqi National Investment Authority, Suha Al-Najjar, and the CEO of the Abu Dhabi Future Energy Company, Muhammad Jamil Al-Ramahi.

The project represents the first practical step taken by the Iraqi government to switch to alternative, clean and renewable energy sources to produce electricity and meet the country’s energy needs. Iraq is also holding talks with Gulf countries, led by Saudi Arabia, to import electricity by linking its network with the Gulf’s.

Iraq’s electricity generation capacity is 19 gigawatts, but it needs 30 gigawatts to cope with demand.

Minister of Oil: Signing a contract with the Norwegian company “Saxtech” to build a 525 MW solar power plant

The Minister of Oil, Ihsan Abdul-Jabbar, announced the signing of a contract with the Norwegian company “Saxtec” to establish a 525-MW solar power plant in the governorates of Karbala and Babil .

Abdul-Jabbar said, in a statement, that the signing comes as a continuation of the government’s procedures in signing contracts with international companies to establish solar-powered electric stations, leading to the production of 7,500 megawatts of clean energy before the year two thousand and twenty-three.

For his part, the Norwegian ambassador to Baghdad, Eric Barger, said that signing with Iraq to implement a Norwegian company and its partners an energy project strengthens bilateral relations with Iraq and opens new horizons for cooperation in the energy field.   link

Oil prices are rising, and Brent is at $83.14 a barrel

Today, Friday, oil prices rebounded again, after the decline of major crudes earlier.

Brent crude futures rose 87 cents, or 1.1 percent, to settle at $83.14 a barrel.

US West Texas Intermediate crude prices also increased 87 cents, or 1.1 percent as well, to reach $77.30 a barrel.

On the other hand, the US Department of Energy stressed that all “tools are always on the table” to address the scarcity of supplies in the markets .  link

Source: Dinar Recaps


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