Forbes Magazine: America seeks to control the Iraqi energy sector
Forbes Magazine: America seeks to control the Iraqi energy sector
10-8-2024
Information/Translation..
A report by the American magazine Forbes, which specializes in political and economic affairs, confirmed on Tuesday that the United States is more keen to maintain its presence in the Iraqi energy and oil sector than to withdraw its forces from the country.
The report, translated by Al-Maalouma Agency, stated that “the US government has begun to focus on bringing American companies to Iraq under the pretext of rebuilding the energy sector in an attempt to expel Chinese investors and reduce emissions from the country’s thriving oil and gas production.”
He added, “According to Assistant Secretary of State for Energy Resources Jeffrey Beane, everyone is aware of the assets that Iraq represents, as the second largest proven reserves in OPEC, as it has 145 billion barrels of proven oil reserves, which is equivalent to about 100 years of supply at the current rate of production, according to the World Bank.”
“We have spent two decades of American blood and treasure in Iraq, and we should not let that go,” he admitted, adding that “developing Iraq’s energy system also represents an opportunity to seize China’s position in the region.”
“The Sudanese are serious about trying to attract Western investment into the sector and when I was there in May, there was a real sense of sadness that the fifth and sixth bidding rounds had gone entirely to small Chinese bidders in particular, and that there was a dearth of large Western companies coming in,” Geoffrey Pyatt continued.
The report indicated that “after Al-Sudani’s visit to Washington last April, Bayat visited Baghdad, Jordan and Saudi Arabia, which led to the activation of a series of memoranda of understanding, meetings and cooperation,” stressing that “in addition to the Export-Import Bank, the US International Development Finance Corporation is also investing in Iraq, as an official at the Development Finance Corporation said that active investment in the energy sector in Iraq amounts to $299 million.” According to him.
almaalomah.me
