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Iraq lambasts the government for selling Iraq and Egypt at preferential prices 

Category: Economy

Date: 2021-09-23T11:03:23+0000
Iraq lambasts the government for selling Iraq and Egypt at preferential prices 

Shafaq News/ A member of the Parliamentary Committee for Economy and Investment, Nada Shaker Jawdat, criticized the government's decision to sell Iraqi oil to Egypt and Jordan at preferential rates, calling for bolstering the Iraqi industry.

Jawdat told Shafaq News Agency, "Iraq should invest crude oil in Iraqi refineries and petrochemical to yield the largest possible amount of money instead of selling crude oil at almost free prices to Jordan and Egypt."

"Jordan and Egypt get oil from Iraq at preferential prices to build power plants and produce petrochemical materials to sell energy and oil derivatives back to Iraq with billions of dollars."

"It is not difficult for an oil-rich country like Iraq to establish power plants, as it has all the material and workforce to do that. Therefore, we will be able to meet the local demand for energy without importing this energy from neighboring countries."

"By reviving Iraqi industry and operating factories to restore the economic development and eliminate unemployment."

Iraq sells Egypt and Jordan oil at the preferential price at a rate of 10,000 barrels per day.

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