College of engineering hosts an international expert to talk about oil production market, reasons for its low price and effects on the economy

College of engineering hosts an international expert to talk about oil production market, reasons for its low price and effects on the economy

  Petroleum engineering department at the college of engineering, university of Baghdad hosted Dr. Luay al-Khatib, head of the Iraq center of energy for scientific training, development and research in London to give a lecture on the volatility of world oil prices and the effects of this decline on the economic and political situation in Iraq, as well as its impact on the general budget of the country. Dean of the college of engineering, Dr. Ahmed Abdul Sahib said that “this lecture is important to keep abreast with the effects of low oil prices globally and to encourage the scientific staff at the university of Baghdad to work in line with labour market and to support the national effort in supplying the labour market with skilled engineers and managers”. He noted that “Iraq today looks forwars in this regard, especilaay in the industries of oil and gas according to international standards in the field of petroleum engineering, and thank God we find at present many successful Iraqi competencies in management positions in the national oil and international companies”. For his part, head of the Iraqi institute for energy, Dr. Luay al-Khateeb reviewed topivcs like global oil market prices, the effects of low price and slumping internationally in general and in Iraq in particular, the reasons for its decline, and how to set up the public budget and formulated in accordance with this reduction. Head of petroleum engineering department at the college stated that through graduation researches, the department looks towards the development of oil and gas sector in Iraq, and invest in skills which is a step in the right direction to deal with global companies and national labour market in energy. The memorandum of understanding that had been signed with the Iraqi energy institute has worked on exchange of experience and science to activate joint cooperation and opening up the global axes of scientific coordination, training and scientific researches, seminars, conferences, lectures, workshops and e-learning. Also the department dedicated a number of books and scientific publications important for the researchers in the field of petroleum engineering in addistion to hosting Iraqi world oil experts who work outside Iraq. At the end of the celebration, the Iraqi energy institute honored the dean of engineering college, Dr. Ahmed Abdul Sahib, top students who submmitted the best graduation projects, as well as honoring professors supervising them. This research centre has been provided with the latest e-learning technologies, computers, special audio system and it was established in 2008 to be an independent non-profit foundation working to rationalize energy policy in Iraq, support economic and legislative reform efforts and the development of scientific research in the fields of oil, gas, electricity and renewable energy as a consultant body to the petroleum and energy parliamentary committee in the Iraqi parliament.Its headquarter is located in London, U.K where there is advisory committee of Iraqi experts in energy participating in its governing council that provide studies and papers that disseminate the latest information and objective analysis that covers the most important activities related to the energy sector in Iraq policy, geopolitical changes, the resource calendar, modern technologies, economic growth, trade development, market expectations and relevant legislation. The Institute is funded by grants from public and private sectors, multilateral institutions, membership fees, studies and professional consultancy for global institutions that do not contradict with the objectives of the institute