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Oil Markets On Edge For OPEC Meeting

Oil Markets On Edge For OPEC Meeting

Oil markets saw moderate volatility…

Iranian Company to Build 10 Power Plants in Iraq

Iranian company Ego group is to build 10 electricity generating plants in Iraq.

Following an agreement with the authorities of Diwaniyah in southern Iraq, the Iranian company Ego group will construct 10 electricity generating plants with a total capacity of 40 megawatts in Diwaniyah province, 120 miles south of the capital Baghdad.

Iran will increase its overall supply of electric power for Iraq by nearly a third, according to a recent agreement between the two neighboring countries, according to Iranian Energy Minister, Majid Namho.

During a recent meeting in Tehran with Iraq’s Electricity Minister, Raad Shallal Saeed al-Any, Namho said that “Iran’s power exports for Iraq, now estimated at 800 megawatts, are expected to rise to 1,250 megawatts, according to a decision taken by both countries recently,” The Voice of the Islamic Republic of Iran Radio 1 reported.

Namho added that “a 400-megawatt line – Karkha-Amara is nearly complete this summer, being a part of Iran’s planned electric power exports for Iraq. The Iraqi side has confirmed the necessity to construct the Khorramshahr-Abuflous line, expected to be completed by the summer of 2012, through sending a technical team and the settling of outstanding problems, in order to increase Iran’s electric power for Iraq from its present level to 1,250 megawatts.”

By. Charles Kennedy, Deputy Editor OilPrice.com


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