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University Technology holds a Workshop About Economic Studies in
Petroleum Markets and Petroleum Prices
Anxious Nanotechnology Research Center at the University of Technology
to keep up with scientific and economic issues of interest to the
economy of Iraq, a scientific workshop was held entitled:
"Economic
Studies in Petroleum Markets and Petroleum Prices"
The lecture submitted by (Asst. Prof. Dr. Khalid Ajmi Sukkar) on
Thursday Janu./15/2015 in the presence of the Director of the
Nanotechnology Center (Prof. Dr.Adawiya J. Haider), Director of
Environmental Research Center (Prof. Dr. Abd-Hamid Jawad Kadhim), and
Chairman of Sustainable Development Department in Environmental Research
Center (Mr. Mekdad Al-Khatib) and the Center staff.
The
workshop addressed the study's most important
economic factors that affect the price of oil in the world and to
highlight the display policy and demand for crude oil in the oil
markets. The lecturer Dr. Khalid Ajmi said that the main reasons
that led to the fall in oil prices at this stage many different was the
most important: an oversupply of crude oil in the world markets for
reasons most notably accounts and geopolitical strategies, Economic
growth decline in some of Asian countries and Europe, which are the
important costumers for oil, increase the production of shale oil and
shale gas in the United States, Canada and some European countries
(although the cost of production range from $ 50-70 per barrel),
increased demand for natural gas in the world for environmental reasons,
as considered a clean fuel in comparison to crude oil, increase the
economic value of the US dollar on the rest of the foreign currency
account. All these factors have contributed to society directly and
indirectly to lower oil prices.
Through what was presented and discussed, some recommendations are
submitted in this workshop including: emphasis on the economic
diversification of the financial returns to Iraq and not to rely on oil.
On the other hand focus on investment scientific minds in the Iraqi
Universities and research centers in order to open a new economic
channels and develop of the industrial sector. Also, the workshop
recommended to encourage researchers to invest and marking the
scientific output in order to achieve financial returns contribute to
the development of society and the economy. An example on the investment
the scientific output is the Nanotechnology applications in all
industrial sectors.
Date: 19/1/2015
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