Iraq intends to achieve self-sufficiency in petroleum products during the second quarter of 2024
Shafaq News/ Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, confirmed on Saturday the ministry’s intention to reach self-sufficiency in petroleum products during the second quarter of 2024, after the completion of a number of important projects in the refinery sector.
This came during the opening of the project to complete the fourth refining unit with a capacity of (70) thousand barrels per day at the South Refineries Company in Basra Governorate.
Abdul Ghani said in a speech during the celebration that operating this unit will provide large quantities of petroleum products, including naphtha, gas oil, kerosene, liquid gas, and others to cover a large portion of the local need.
The Minister of Oil indicated that the project was among the priorities of the government program and was completed in a record period by the national effort after foreign companies hesitated.
For his part, Director General of the South Refineries Company, Hossam Hussein Wali, said in a speech during the ceremony that the company fulfilled its obligations to the government and the ministry by completing the project within the planned period, stressing that the production of this unit of petroleum products will cover a large part of the local need, especially gas oil and kerosene, indicating that The company contributes through projects to increase refining capacity to meet local needs and improve the quality of petroleum products.
Meanwhile, Oil Ministry spokesman Assem Jihad said that the opening of the fourth unit, with a capacity of 70 thousand barrels per day, will contribute to raising the total refining capacity of the South Refineries Company to 280 thousand barrels per day.
He explained that the first stage will witness the opening of the isomerization unit to improve the quality of products in the refinery, in addition to continuing to complete the (FFC) project, which is considered one of the most promising projects and represents a qualitative leap in upgrading petroleum products to (Euro 5).
What I've always said is it makes more sense for Iraq to have a managed float which is effectively a fixed exchange rate...1 to 1 or 2 to 1, 3 to 1, 4 to 1 whatever they decide to do it makes it easier the higher that exchange rate is to defend...Having a...3 years budget keeps it stable...pricing stays stable.
Anybody that says it's going to float to from a relatively low range to a high range over time they don't understand. Article quote: "The exchange rate will be fixed especially since it's been fixed in the federal budget law for 3 years says Saleh..." This is coming from the advisor. Don't talk about float. It just doesn't make sense to anybody.
Since November of last year they have been working to do what? Get rid of the parallel market. And how are they doing that? They're populating banks with many other currencies. They're doing all those things that are necessary to do what? Be article VIII compliant, to have a single currency, not a dual currency country. They're getting rid of multi-currency practices.
They're talking about reducing Iraq's dependence on oil. Dependence on oil is going to go away because they have non oil related products...services...and sectors . That's going to be from the taxes and tariffs at the borders, imports, exports, natural resources. They're going to have other than just oil. They're going to have other circumstances...They're talking about 350 million ton of sulfur...They're trying to achieve sustainability for the private sector..
Everybody knows Iraq is about to go International and they're going to have a digital transformation ...When they have this investment budget and they start spending...Iraq is going to be filthy rich with revenue streams from the electronic borders, agriculture, tourism... mining, sulfur, phosphates...they're going to have revenue like no other.
There isn't anything else like it, in my lifetime, that I can see is going to trump Iraq... Don't forget...Iraq has a massive amount of hydrogen for clean energy...nobody else is talking about it...The amount of money and revenue streams Iraq is going to have is almost incomprehensible...It really is intense on how much money these guys are going to make on a regular basis..
AL-SUDANI TO PLASSCHAERT: THE GOVERNMENT IS DETERMINED TO COMPLETE ALL CONSTITUTIONAL ENTITLEMENTS AND SUPPORT DECENTRALIZATION
The Prime Minister, Muhammad Shiaa Al-Sudani, received today, Thursday, the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert.
During the meeting, according to a statement from the Prime Minister’s Office, which {Al-Furat News} received, Plasschaert “congratulated, on behalf of the International Organization, the Prime Minister on his government’s success in holding provincial council elections, as a step that enhances stability and consolidates democratic rule.”
During the meeting, the Prime Minister affirmed “the government’s determination to complete all constitutional entitlements and support administrative decentralization,which was embodied in holding provincial council elections, within its obligations in the government program,” pointing to Iraq’s desire to continue cooperation with the international organization and develop all its working development programs. in the country”.
(All I can say again is “I told you so” lol,,lol,,lol,,lol,,, Are we waiting for the Oil and Gas law. Makes total sense to me. The fact that they could not get agreements in place in time and the law passed could be a reason why January target was stalled.Just saying….)
Parliamentary answer: Will the decision to reduce oil production affect dollar prices in Iraq?
Information/private.. Today, Saturday, a member of the House of Representatives, Intisar Al-Jazairi, explained the extent of the impact of Iraq’s reduction in oil production on the dollar exchange rates in local markets, while she considered the government’s policy to have “a great influence” on the exchange rate.
Al-Jazairi said, in an interview with the Maalouma Agency, that “the economic policy followed by the Iraqi government has greatly affected the exchange rates of the dollar in local markets,” expecting “the continued decline of the dollar locally.”
She added, “The effect of the voluntary reduction in oil production depends on whether or not it exists with the exchange rate in Iraqi markets, especially since oil exports depend mainly on the dollar.”
The member of the House of Representatives explained, “The Iraqi government has taken a decision regarding reducing oil production until the first quarter of 2024, but it has not yet been implemented,” pointing out that “the dollar prices during the next year and the events that will take place in the world, alone will determine the position of the government and Parliament.” of the reduction decision.
Earlier, economic affairs specialist Muhammad Al-Saadi confirmed that Iraq faces a valuable opportunity to maximize oil revenues by exploiting the reduction in oil production and achieving an increase in prices.
The OPEC Plus oil organization had decided, earlier, to reduce the oil production of member states, including Iraq, after the significant decline witnessed by the global market, and to once again increase demand for black gold.
Article: "CBI Governor: Int'l welcome to the Iraqi banking sector’s commitment to compliance rules" Quote: "For the first time, Iraq is witnessing the reorganization of the external transfer process through correspondent banks, instead of the Central Bank or the Federal Bank being the executive interface for this process.”
Jeff
The elections are the linchpin to all their remaining economic steps and movements including the rate change...These elections were a reform step, which is exactly what the rate change has been waiting on throughout this entire year.
The elections are the linchpin to all their remaining economic steps and movements including the rate change...These elections were a reform step, which is exactly what the rate change has been waiting on throughout this entire year.
The reforms are absolutely waiting on the rate change to implement. They can't implement the reforms without changing the rate. They're telling you the rate change itself is very clearly waiting and has been waiting this entire year on these [provincial] elections...
Since October of last year [Iraq's Federal elections] they have been setting the economic stage for the rate change... They're done setting the economic stage. They don't have any more economic steps to do. That's why they're finishing the very last step of removing and cleaning up corruption at the second half of the government - The provincial level.
Today on Monday Iraq is holding their elections. What does this mean to us? According to Iraq's Central Bank removing corruption is the absolute minimum requirement for Iraq to be eligible to revalue their currency..
.These are the provincial level elections. It's the second half of the government. They already completed and held all their federal elections in October of last year...These elections are critical to the country to move it forward...
{Economic: Al-Frat News} The prices of the US dollar fell against the Iraqi dinar, on Saturday, with the closure of the main stock exchange in Baghdad.
Selling prices in local exchange shops in Baghdad were 153,250 dinars for $100, while the purchase was 151250 dinars for $100.
The sale price this morning was 153,500 Iraqi dinars, while the purchase was 15,500 dinars per 100 dollars.
...We all know things don't happen fast in Iraq. Iraq has a lot of work to do in order to succeed. The first of which is pass over 100 stalled laws through Parliament to encourage investment in Iraq. And at the same time the Central Bank of Iraq has to continue reforms to the banking system, digitalization, and apply monetary tools to meet compliance.
A country's exchange rate is the result of the success and growth of their own economy. When you have a weak economy, you have a weak exchange rate. Until Iraq passes laws, diversifies their economy and increases their GDP, nothing will happen with the dinar. When Iraq passed their tripartite 3 year budget a few months back, it created the conditions for them to diversify and privatize their economy over the next three years. Now Iraq is on the clock to accomplish such.
There's a new article out that many people are translating and confusing. They are not talking about an RV in Iraq, they are talking about the spread being in compliance early next year.
Just a reminder the spread is the difference between the official rate and the market rate or street rate and has been way out of whack recently in Iraq. This article simply means they expect the spread to come down closer to the official rate early next year. There is no RV.
A very important statement was made back in 2020 by the prime minister's economic advisor Mohamed Salah who used to be Deputy Governor of the CBI under Shabibi. He stated that Iraq's entire wealth including all minerals in the ground amounts to only $16 trillion dollars. Knowing that information one can then determine that there is no way a significant RV could ever occur with over 90 trillion dinar in circulation. It doesn't make sense...
They...have to have the dinar stabilized within the country and within the 2% rule mandated by the IMF in order to then accept IMF article VIII and begin to float the dinar which would raise its value based on supply and demand. All of these processes and or steps required time.
Clare: Sudanese Advisor: Discussions with 5 countries to import factories in exchange for sovereign guarantees
12/21/2023
Today, Thursday, the Prime Minister’s Advisor for Technical Affairs, Muhammad Sahib Al-Daraji, revealed discussions between Iraq, Germany, Italy, Spain, Japan, and China to import factories in exchange for sovereign guarantees.
Al-Daraji said in a statement, “There is a committee formed under the direction of Prime Minister Muhammad Shiaa Al-Sudani to implement a paragraph in the budget that stipulates granting the government sovereign guarantees in favor of importing production lines and agricultural equipment for the Iraqi private sector.”
He added, "The government is in the process of agreeing with Germany, Italy, Japan, China, and Spain, in addition to the Islamic Development Bank, to supply factories to Iraq in exchange for sovereign guarantees and to manage them by the private sector."
The Prime Minister's Advisor for Technical Affairs described it as "excellent for strengthening the Iraqi economy and changing its performance philosophy." LINK
Clare » December 20th, 2023
The Iraqi Trade Bank decides to stop working on money transfers, starting next Sunday
12/20/2023
The Iraqi Trade Bank decided to stop working on financial transfers, starting next Sunday
In a statement, a copy of which {Al-Furat News} received, the bank explained the reason for stopping work on financial transfers: “For purposes related to the annual inventory, it was decided to stop work on money transfers starting from Sunday, 12/24/2023,” noting that “the last date for receiving financial transfer requests will be on Thursday, 12/21/2023.
He added, “This service will resume work on Wednesday, 01/03/2024.”LINK
Against major currencies. US dollar at 5-month low
Baghdad Today - Follow-up
The US dollar fell against a group of major currencies around the world, on Friday (December 22, 2023), recording its lowest level in nearly five months, affected by data from the slowdown in annual inflation in the United States in November, which reinforced Market expectations about a US interest rate cut in March.
As of November, inflation in America, according to the PCE price index, stood at 2.6 percent, down from 2.9 percent in October.
Excluding volatile food and energy components, the core PCE price index rose 3.2 percent year-on-year in November, the smallest rise since April 2021
The dollar index fell 0.13 percent in the latest trade to 101.65, its lowest level since late July.
The index has fallen more than two percent over the past two weeks and is heading to end the year down just under two percent.
Sterling rose 0.28 percent to $1.2728 as traders digested data showing British retail sales in November jumped more than expected, but third-quarter GDP was revised downwards.
The dollar rose 0.18 percent against the yen in the latest trade to 142.37 yen, after data from core inflation in Japan slowed sharply in November.
The risk-sensitive Australian and New Zealand dollars traded higher during the day. The Australian dollar rose 0.12 percent to $0.6811 after earlier touching $0.6825, the highest level since July.
The New Zealand dollar traded 0.24 percent higher at $0.6309, also a five-month high.
That's what's slowing down all this process. It's people still using the dollar in Iraq. Even me, I use the dollar in Iraq. When I was there last week I use a dollar in Iraq. Why? Because it's a lot easier. It's smaller. You don't carry a lot. You carry $500, $600, $700 with you, $1000 max...If I didn't have the dollar and If the dinar for me to carry...it would be a lot in my pockets..
The facts are the facts. If they delete the dollar, if they take off the dollar from the markets in Iraq, they're going to have to come out with a small category of dinar. That's it. Why? Because it's too much dinars to carry...I'm not going to cary 150,000 dinars in my pockets. I'm not going to do that. I prefer to have $100 than 150,000.
Everybody's asking me what's going on. What's the news. The news, you will see it on the 1st of January - what exactly is going on. They already gave you a date. I told you the 1st of January we'll be out of the dollar. We will not work with the dollar anymore in Iraq.
Everybody's asking me what's going on. What's the news. The news, you will see it on the 1st of January - what exactly is going on. They already gave you a date. I told you the 1st of January we'll be out of the dollar. We will not work with the dollar anymore in Iraq.
Remember the goal is to become a cashless society...Just because they're doing away with the US dollar has nothing to do with them changing the Iraqi exchange rate. I did say IMO towards the end of the first quarter, the beginning of the second quarter you might see a bump in the Iraqi dinar exchange rate only because of supply and demand. If they do away with using the US dollar and they start using Iraqi dinar more in country, that's going to strengthen the Iraqi dinar. Plus there's going be a much larger demand for the Iraqi dinar because the dollar won't be around anymore for them to use...
With them taking away the US dollar there's some logic to...an increase in Iraqi dinar.Will they? You're not going to see them go 1 for 1...
Nothing would make me happier than to be wrong about this. I would love to go, 'Oh, my gosh, everybody was right and I was wrong. Darn.' As I take my dinar down to the bank...It's not that simple. There are a lot of hurdles and...precautions countries have to take before you do anything that outrageous with your exchange rate. The best you can hope for is it goes up in increments...You're not going to see any huge significant change in the Iraqi exchange rate despite the fact they're taking away the US dollar.
Plasschaert sends an end-of-year message to the Iraqis: Bright opportunities are on the horizon
Shafaq News/ The Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Hennis-Plasschaert, confirmed today, Saturday, that Iraq has an excellent opportunity for rapid progress in its sustainable development.
Plasschaert said in an end-of-year message followed by Shafaq News Agency: “Going back to last year, I said that, with political stability and bright opportunities on the horizon, Iraq has an excellent opportunity to advance rapidly in its sustainable development, and a year later, several important steps and promising initiatives have already emerged.”
She added, “While the country is in a position to seize the many opportunities available to it, doing so will not be an easy task, and therefore, I can only echo the words of Secretary-General AntĆ³nio Guterres during his visit earlier this year: “The United Nations is committed to supporting Iraq.” To consolidate its democratic institutions and advance peace, sustainable development and human rights for all Iraqis.”
She continued by saying: “On behalf of the United Nations family in Iraq, I wish you all a happy New Year full of peace and wellness.”
[via PDK] Pretty quiet from Iraq so far today. One of my sources believe the local elections had some effect on our timing and are finishing the ballot counting before they release rates. If hes accurate…the counting should be finished in the next day or so, Possibly as early as today. I have one source in Iraq who believes they will release the rate in Iraq as soon as they finish seating these new electees. Possibly in a day or so or as early as today.
So far this morning - very quiet…no real changes since last night. There is nothing negative…Just no news saying anyone is spending any money yet this morning. Maybe we will get more news throughout the day today.
Comment: Iraq may be spending 80% of their 2023 budget to flood its citizens with dinar right before the RV. MarkZ: That makes a lot of sense. There was a lot of backlash in Kuwait because they did not do something similar. A lot of Kuwait people were caught without having Kuwait dinar because they were using US dollars.
FIREFLY: Television special is saying we are seeking monetary sovereignty over the dollar.
FRANK: Can't get any more straight forward to the point than that can we. When they say the word Monetary they mean money...They want your currency to dominate...They have told you after January 1st you will not be using anything but your sovereign national currency. To me that sounds like a currency that has great pride in being announced to the world. A currency that is about to go up in value. It does not sound like the continued sanctioned, programed rate that has robbed you citizens of your future...
FIREFLY: Sudani has statement to us citizens to be on watch for change in the dinar pricing for goods in our market.
FRANK: Realize that Sudani is telling you there is a change coming to the exchange rate of your sovereign national currency...He told you to look for it. That is simply amazing. It is part of the monetary reform education that is so loud even the man on the moon can hear it.
FIREFLY: Sudani didn't say the amount of the change that will occur, whether it was small or large. He just told us to watch in our markets for the dinar to increase and the plan they had to devour the parallel markets is all but complete.
FRANK: [Happy fist pump yes!] How much time is there left!?
Economic: For these reasons, dollar prices are gradual declining
On Saturday, the economic expert, Safwan Qusay, suggested that control over the exchange rate would continue and that it would gradually decline, attributing this to the fact that Iran and the sanctioned countries now have common financial systems that reduce the demand for the dollar from the Iraqi market or other markets.
Qusay told “ Jarida ”, “The policy of diversifying currencies at the level of Iraqi banks and the desire of merchants to obtain goods immediately away from the electronic platform by dealing in the Emirati dirham, the Turkish lira, the Indian rupee and other currencies, which can reduce the waiting period for these merchants.” Thus, part of the demand that was fed through the parallel market, especially for small merchants, withdraws into the banking system, and thus the demand for the dollar in the informal market gradually decreases.”
Qusay expressed his hope that “the Central Bank’s measures will succeed in finding an appropriate mechanism to deal with imports from the sanctioned countries, through the joint account window with Oman or Qatar, to feed the private sector, especially the Iranian one, with a portion of the funds supervised by the US Federal Reserve, so that the dollar will decline in the informal market.”
It is clear, according to Qusay, that “Iran has gradually found alternatives to the local market. It is dealing with Russia directly and with China, and part of the reason for the gradual decline, which may be below 1,500 during the coming period, is that the Iranians and the sanctioned countries have joint financial systems that reduce… “Demand for the dollar from the Iraqi market or other markets.”
He explained, “The volume of trade exchange with the Iranian side for the year 2023 decreased to 6 billion, while it had reached 10 billion dollars annually or more. This indicates that Iranian merchants have begun to deal with other countries such as China, India, and Russia, and thus the demand for those who trade has decreased.” By exporting goods and recovering their money from the informal market.”
At the conclusion of his speech, Qusay suggested that “control of the exchange rate will continue and it will gradually decline until it returns to the regular price, even after a while.”
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Member: Merry Christmas to all!
Member: Happy Christmas Adam……(Tomorrow is Christmas Eve) LOL
Member: I got some exciting news from a bond holder-They had a notary come over yesterday to sign papers for Reno
MZ: There is very interesting and back and forth in the historic bond market right now. Some people are being told very different things then what others are being told.
MZ: Pretty quiet from Iraq so far today. One of my sources believe the local elections had some effect on our timing and are finishing the ballot counting before they release rates. If hes accurate…the counting should be finished in the next day or so, Possibly as early as today.
Member: Are you hearing anything on the Venezuelan Bolivar?
MZ: We are hearing some interesting things on the Bolivar. “Venezuela unveils official exchange rate for sovereign bolivar” It appears they are making moves to prop up their currency in a big way…..
Member: The bolivar is now showing on the XE currency converter 35.471 to 1USD
MZ: That is a substantial change in value. Unfortunately we cannot exchange it yet…but we are looking for places.
Member: I went to the bank the other day and they told me exchanges are not taxed. This is in Canada.
Member: Exchanges should not be taxed…but, be prepared.
MZ: That’s the way I look at it. We have shared this memo from the US State Dept. directly about Iraq. Go to section 6 Financial Sector: The last sentence says “There are no taxes or subsidies on purchases or sales of foreign exchange.” https://www.state.gov/reports/2022-investment-climate-statements/iraq/
MZ: MilitiaMan just came out with wonderful recap on articles from Iraq this week. He is pointing out all the business and countries now dealing directly with Iraq. Be sure to go watch it.
MZ: Nader is doing a live Q&A right now…be sure to go listen to that as well
Member: Wolverine said his high up contact Mauricio said we're going to have a very merry Christmas.
MZ: “The election results will witness changes after the special vote is counted” They are finishing the counting of local elections …
MZ: I have one source in Iraq who believes they will release the rate in Iraq as soon as they finish seating these new electees. Possibly in a day or so or as early as today.
MZ: “ BRICS : US dollar reserves fall 6.5%, but local currencies rise 3.65 %” Amongst the BRICS countries they are unloading their US dollars to support their local currencies.
MZ: From Watcher Guru and the official BRICS twitter account posts this “ How Bitcoin can help the BRICS alliance ditch the US dollar” In other words crypto/blockchain coins can help them break the western hegemony. This one is important to pay attention to. It’s the future of money.
Member: I am hearing lots of stories about “rates on bank screens” but how many can actually exchange now?
MZ: Maybe a handful if the bank teller messes up. But then I would guess it would be corrected or reversed until it is time.
Member: Merry Christmas everyone. Hope everyone has a blessed weekend and can be with family and loved ones. Thanks for all you do Mark and Mods.
Member: Merry Christmas to All and to All, a good night.
Member: And God Bless us everyone!!!
“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY
CBD Guru’s join the stream today. Please listen to the replay for their information
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Question from Gavin: Did your CBI contact have anything to say about the Frank26 video? Do you know the agency that supposedly put it out and if it is legitimate? Thank you – Gavin
Mnt Goat Answer: Yes, I did bring that up in one of my last conversations with my contact and I was told it was produced by the committee and was one of the first videos in a series they planned to roll out. So they already began the education process and have yet more commercial like videos even detailing the process of the swap-out of the currency and what the newer lower notes will look like. However, for now the project to delete the zeros was suddenly put on hold and that is where it now stands.
Question from Diane: GM, MG! And Merry Christmas! One question. If EU countries will be swapping currencies with IRAQ, I assume it won’t be at a value of 1/6 of a penny, is there a way that we could in the U.S., go to one of those EU countries, exchange our dinar for their currency, open a bank account in that country, then either wire funds to our U.S. bank accounts or use a debit card from that EU bank? There must be away around the FOREX and U.S. Treasury. IF Iraq has found a way, we should be able to as well.
Mnt Goat Answer: Frohe Weihnachten to you too Diane. Thanks for the comments and question. Any EURO coming into Iraq is coming in as an exchange of IQD 1320 to whatever equivalent that would be in EUORS. Please be patient as you will be able to exchange the Iraqi dinar you hold in time. You don’t have to come up with elaborate schemes. Please read my conversation with my CBI contact from 12/16.
In a decisive stance following Angola’s exit from the Organization of the Petroleum Exporting Countries (OPEC), key African member nations have stepped forward to solidify their allegiance to the oil-producing consortium. Iraq, Nigeria, and the Republic of Congo, representing a significant share of the continent’s oil output, have each vocalized a robust commitment to OPEC’s collective mission. This chorus of support underscores the strategic role the organization plays in maintaining equilibrium within the global oil markets.
Unity in the Face of Change
Amidst the backdrop of Angola’s departure, it is the Republic of Congo that has emerged with a clarion call for solidarity. The nation’s Minister of Hydrocarbons, Bruno Jean-Richard Itoua, articulated the necessity for unity and cohesion among member states. The sentiment is echoed by Nigeria, Africa’s largest oil producer, which has been the subject of a contentious production quota reduction for the year 2024.
Nigeria’s Unwavering Commitment
Nigeria’s Minister of State for Petroleum, Senator Heineken Lokpobiri, has been at the forefront of the country’s response, declaring an unwavering commitment to OPEC. Despite a production cut bringing Nigeria’s output down to 1.38 million barrels per day (bpd), Lokpobiri’s resolve remains firm. His pledge to facilitate stability and sustainability in the oil market is a testament to Nigeria’s dedication to OPEC’s overarching goals.
Nigeria aims to surpass its OPEC production target by 2024, setting an ambitious objective of at least 1.8 million bpd. This target not only reflects Nigeria’s aspirations within OPEC but also its intent to engage constructively in ongoing dialogues, addressing national concerns while aligning with the group’s objectives.
Addressing Production Quotas and Market Stability
The issue of production quotas has been a sticking point, particularly with Angola’s cited reasons for exiting the organization—low investment and underperformance in production capacity. Nigeria, in contrast, is taking proactive measures to avoid similar pitfalls. By aiming for a production quota that exceeds the allocated 1.5 million bpd for 2024, Nigeria is positioning itself as a contributory force in the collective pursuit of market stability.
As the dynamics of the energy market evolve, Nigeria’s Junior Petroleum Minister has emphasized the country’s staunch dedication to OPEC’s initiatives. The commitment to maintaining, and indeed increasing, production levels is a clear indication of Nigeria’s strategic approach to its role within OPEC, as well as the broader global energy sector.
It looks like Japan has begun the process of utilizing a Digital Platform in trading Securities in their country. The age of tokenized assets being traded on digital platforms has begun.
This announcement came just 2 hours ago, and they plan to begin their trades on Christmas Day.