Sunday, May 12, 2024
Oil: Iraq Achieved Self-Sufficiency In Liquid Gas And Began Exporting The Surplus, 13 MAY
Oil: Iraq Achieved Self-Sufficiency In Liquid Gas And Began Exporting The Surplus
Energy Economy News _ Baghdad The Ministry of Oil announced today, Sunday, that Iraq's oil reserves have risen to more than 160 billion barrels, while indicating that 22 international companies are competing for gas field development projects, stressing that Iraq has achieved self-sufficiency in liquid gas and has begun exporting the surplus.
The ministry’s spokesman, Asim Jihad, said in an interview with the Iraqi News Agency, followed by Al-Iqtisad News, that “the fifth and sixth round of supplementary licenses come in line with the government program that aims to optimize the investment of oil and gas wealth.”
He added, "The Ministry aims to maximize national production, especially of hydrocarbon and gaseous compounds found in the ground," noting that "there are 22 international companies competing for projects to develop these fields."
He pointed out, "Most of the exploration blocks nominated for competition are gas exploration blocks, and therefore this will support the energy sector in Iraq."
Jihad confirmed, "The Ministry of Oil has achieved important steps in optimal gas investment projects in Maysan Governorate, at a rate of 300 cubic feet, and in Dhi Qar / Nasiriyah and Al-Gharraf Governorates, at a rate of 200 million standard cubic feet per day."
He continued, "The contracts concluded by the Ministry regarding the Nahran Omar field will provide 300 million standard cubic feet in two stages, while the contract with Total will provide 600 million standard cubic feet per day."
He pointed out, "The fifth licensing round will achieve more than 800 million standard cubic feet of gas, in addition to the efforts of the Basra Gas Company, where gas investment has reached 1,200 million standard cubic feet per day."
He went on to say: "It is hoped that 200 million standard cubic feet will be added this year, so in total Iraq aims to achieve self-sufficiency to support the energy sector and reach the stage of self-sufficiency."
He stressed, "Iraq has achieved self-sufficiency in liquid gas, and the surplus was exported outside the country," noting that "this step is important in strengthening the Iraqi national economy."
According to him, “the government effort focused during the last period on intensifying exploratory operations, and therefore this will lead to maximizing the Iraqi oil reserve,” adding, “It is hoped that during the coming period it will be announced that the Iraqi oil reserve will increase to more than 160 billion barrels, which will enhance the role of Iraq in the global oil market.
Regarding the activities of the fifth supplementary and sixth licensing round for the second day, Jihad explained, “The activities of the second day included competition for 11 fields and exploration plots, and these patches and fields began with the Abu Khaimah field in Al-Muthanna Governorate, which was transferred to the Chinese company Zenoa.”
Jihad added: “Now there is competition for the goat patch in Anbar Governorate. Competition will also take place today for patch No. 7 in Diwaniyah Governorate, Al-Dhafriyah field in Wasit Governorate, Sumer patch in Al-Muthanna Governorate, Tal Hajar in Nineveh Governorate, Al-Khanah in Salah al-Din Governorate, and Anah in Anbar.” Plot No. 11 in Najaf Al-Ashraf, Al-Anbar Plot in Anbar Governorate, and Qalat Saleh Field in Maysan.
He expressed his hope that “these projects will be referred to competing international companies, in a way that will achieve a major transition in this context,” and tomorrow “the competition will be for another group of fields and exploratory patches.”
Yesterday, Saturday, Prime Minister Muhammad Shiaa Al-Sudani sponsored the ceremony to announce licenses for the fifth supplementary round and the entire sixth round, which includes a total of 29 projects for oil and gas exploratory fields and patches, distributed among 12 governorates.
Views 52 05/12/2024 - https://economy-news.net/content.php?id=43338
"RV UPDATE" BY MNT GOAT, 13 MAY
MNT GOAT
Can you see just how close Iraq is to fulling Al-Sudani’s promise of making the dinar a proud national currency once again. Also remember too that he did say it “was” valued over a dollar already...
Article: IRAQ TALKS ABOUT PRODUCING ONE MILLION LITERS OF GASOLINE DAILY
Quote: “increase refining capacity production rates and improve production in national refineries to reach self-sufficiency and gradually shift to exporting them to global markets..." Well…well…it's about time that Iraq got these refineries up and running. Lots of articles about this effort over the last ten years. Did I hear of another export product here?
I feel we have been in a critical period of the currency reform program since January of last year 2023.
Now we are in a “vital” period. Like a game of chess, we are now in a waiting mode for the Central Bank to make their next move and rollout the second-rate change in-country to just over a dollar, that we were told is coming. Since they told us they now control the parallel “black” market, and that negotiations were successful in lifting sanctions on many Iraqi banks.
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-mnt-goat-7-may.html
I feel we have been in a critical period of the currency reform program since January of last year 2023. Now we are in a “vital” period. Like a game of chess, we are now in a waiting mode for the Central Bank to make their next move and rollout the second-rate change in-country to just over a dollar, that we were told is coming. Since they told us they now control the parallel “black” market, and that negotiations were successful in lifting sanctions on many Iraqi banks.
In what they have already accomplished just in the last 16 months, it would be silly to turn back now. Amazing progress in such a short period of time compared to 30 years.
They have come further than ever before. I say this not for hype or for the sake of being overzealous. Instead, I stick to the FACTS of what the news has been telling us recently and what my CBI contact has been telling us...Iraq has kicked the proverbial can down the road long enough and it is time...time to go global...Iraq will not survive unless they do something BIG with their currency soon and I mean very soon!
https://dinarevaluation.blogspot.com/2024/05/rv-update-by-mnt-goat-6-may.html
The Discovery Of 10 New Oil And Gas Fields In The Anbar Desert , 13 MAY
The Discovery Of 10 New Oil And Gas Fields In The Anbar Desert
Economy Information / Anbar.. Anbar Governor’s Advisor for Energy Affairs, Aziz Khalaf Al-Tarmouz, announced today, Sunday, the discovery of 10 new oil and gas fields in the Anbar desert in western Iraq.
Follow the “Al-Ma’louma” channel on Telegram.. News that does not require documentation..
Al-Tarmouz told Al-Maalouma, “The Oil Exploration Company affiliated with the Ministry of Oil conducted exploration operations in the desert of Al-Nukhayb district towards the Arar border crossing with Saudi Arabia and the areas south of Tharthar, which resulted in the discovery of 10 new oil and gas fields that were not registered with the Ministry of Oil.”
He explained, “These fields contain large quantities of petroleum derivatives, minerals, and phosphates,” noting that “expectations indicate that these areas float on lakes of oil.”
He denied that “exploration operations for oil and gas fields have stopped for security reasons,” indicating that search and exploration operations will continue. According to a plan drawn up by the concerned authorities. Ended / 12A LINK
"RV UPDATE" BY FRANK26, 13 MAY
Frank26
On the CBI website back in January of this year...the CBI started the monetary reform campaign to the Iraqi citizens...It was on January 1, 2024 that the Central Bank of Iraq displayed this green looking currency...You'll notice three zeros. What this is a 1000 but it is not what you think it is. What is the color of the 1000 note that's out there right now? Yellow/gold...What's this 1000 note that's green?
...It is a fil...They are not going to release a 1000 lower note...They're not only going to release coins made out of precious metals but they're also going to release fils in paper.
Article: "Iraq Discusses Financial and Technical Support with IMF, World Bank" Do you realize who these two powerful entities are? Do you realize what they want? A new exchange rate and nothing else.
Who's forcing this monetary reform to come out/this new exchange rate? The citizens of Iraq? Sudani the prime minister? The US Treasury?
They sure want a windfall don't they for the Federal reserves. The CBI? You and I? The answer is all of the above is forcing it.
That's what's wonderful about it. We are all on the same page. We are all in cahoots. We all agree.
It's going to float. It's just that there's no basket, that's all.
I just don't see that it's going to be in a basket. I think it'll be a fixed rate...What would it be?
Well they want 1 to 1. IMO maybe $1.50 to 1 or $1.30 to 1.
That's a fixed rate. But that fixed rate is going to be put in the international markets - Forex. Because of supply and demand, using, buying and trading with it, the value internationally is going to go up...The CBI seeks what's called a REER, Real Effective Exchange Rate.
"RV UPDATE" BY TRUTH WARRIORS, 12 MAY
TRUTH WARRIORS
🇺🇸💥❤️🇺🇸. Iraq is allowing the dinar to float to close the gap between the official exchange rate and the parallel market rate.💥💥💥Nader today. Good news! 🇺🇸💥❤️🇺🇸
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🇺🇸💥🇺🇸. Viet Nam has had significant growth in their economy! 💥💥💥. They have added to their manufacturing sector. 🇺🇸💥💥👇👇👇
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💥🇺🇸☝️☝️☝️☝️Nader says that the war with Iraq had ended when Sudani came to the U.S. last month. 💥💥💥 The U.S. will keep bases in Iraq to protect their assets just like they do in Germany and other places. 💥💥💥 The U.S. gave 100% of Iraq to Iraq.🇮🇶 It happened this month! 💥💥💥. Great news! 🇺🇸💥🇺🇸☝️☝️☝️
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🇺🇸💥❤️🇺🇸. Zimbabwe is going on the gold backed currency system! 💥💥💥. This is very good for those who hold Zim bonds! 🇺🇸💥❤️🇺🇸
"WHERE THE BANKS WOULD GET THE CASH LIQUIDITY THAT THEY NEED?" BY TRUTH WARRIORS, 11 MARCH
TRUTH WARRIOR
🇺🇸💥🇺🇸. Remember that on March 11, Monday, there won’t be anymore money to lend for loans. What will the banks do? 💥💥💥. How long would that go on before the banks break not having any money? Boom boom boom 💥💥💥.
What they will need is their own liquidity of cash. 💰💰💰.
Where would they get the cash liquidity they need??
From the people redeeming their foreign currency. 💥💥💥.
That money will be immediately invested in the banks at a special high interest rate! 💥💥💥.
It will be a win-win situation for everyone! Let’s Go! 🇺🇸💥🇺🇸👇👇👇
https://dinarevaluation.blogspot.com/2024/03/where-banks-would-get-cash-liquidity.html
🇺🇸💥🇺🇸. Remember that on March 11, Monday, there won’t be anymore money to lend for loans. What will the banks do? 💥💥💥. How long would that go on before the banks break not having any money? Boom boom boom 💥💥💥.
What they will need is their own liquidity of cash. 💰💰💰.
Where would they get the cash liquidity they need??
From the people redeeming their foreign currency. 💥💥💥.
That money will be immediately invested in the banks at a special high interest rate! 💥💥💥.
It will be a win-win situation for everyone! Let’s Go! 🇺🇸💥🇺🇸👇👇
https://dinarevaluation.blogspot.com/2024/03/where-banks-would-get-cash-liquidity.html
In Numbers: The Rise In Internal Debt In Iraq, 12 MAY
In Numbers: The Rise In Internal Debt In Iraq
Time: 05/12/2024 Read: 624 times {Economic: Al-Furat News} An economic expert revealed that the total internal debt in Iraq increased during the month of last April.
Manar Al-Obaidi said in a statement, a copy of which was received by {Al-Furat News}, that "the total internal debt last April rose to 76.9 trillion dinars, up from the previous month of March by 5%, as the total internal debt of Iraq was 73.2 trillion dinars."
He pointed out that the total debt increased "by 10.39% compared to April 2023, as the total internal debt at that time was 69.7 trillion dinars." LINK
Iraq Is The Largest Producer.. OPEC+ Is Pumping Higher Than Scheduled And In Anticipation Of The June Meeting
Energy Economy News _ Baghdad OPEC+ crude oil production decreased by 210,000 barrels per day on a monthly basis, to 41.04 million barrels per day last April.
This came according to a survey conducted by S&P Global Commodity, as Russia began implementing a deeper production cut amid a series of Ukrainian drone attacks on its refineries.
However, this decline is unlikely to be enough to calm tensions over compliance, with Russia failing to meet its target, and Iraq and Kazakhstan continuing to produce quantities well above their quotas, according to the survey.
However, this decline is unlikely to be enough to calm tensions over compliance, with Russia failing to meet its target, and Iraq and Kazakhstan continuing to produce quantities well above their quotas.
The two countries exceeded excess production by nearly 1 million barrels per day in early 2024, and committed to compensate for this between May and the end of December 2023, and these plans were adjusted depending on future production and OPEC+ policy decisions based on the data.
Iraq and Kazakhstan continued to produce beyond quotas, despite their pledge to compensate for their surplus production in early 2024.
As for the June meeting, the production data for last April will be the talk available to OPEC+ ministers when they meet to determine production levels, and analysts expect the group to extend the current quotas and voluntary cuts.
Iraq produced above its quota last April, when production reached 4.24 million barrels per day, a decrease of only 4%, compared to the previous month, which amounted to 4.28 million barrels per day. Thus, it produced above its quota by 240 thousand barrels per day. Views 20 05/12/2024 - https://economy-news.net/content.php?id=43343
"ABOUT VIETNAM & ZIMBABWE " BY TRUTH WARRIORS, 1 MAY
TRUTH WARRIORS
🇺🇸💥🇺🇸. Viet Nam is becoming a country with many new business adventures. Really progressing to be a major
player in their area of the world! 🇺🇸💥🇺🇸👇👇👇
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🇺🇸💥🇺🇸. Zimbabwe has been dealing with black market dealers and the old currency. Now, all old money should have been turned in and the new Currency has been released. 💥💥💥
It is possible that there will be a float to see how the market prices will determine the value of the new currency being used. Very interesting. 💥💥💥.
It seems that when a stable value is achieved, then the new currency may be put on the forex. This is my conjecture of what I have been reading. 🇺🇸💥🇺🇸👇👇👇
90 Billion Dinars Were Recovered From Social Protection Violators, 12 MAY
90 Billion Dinars Were Recovered From Social Protection Violators
Posted On05-12-2024 By Sotaliraq Yesterday, Saturday, the Social Protection Fund in the Ministry of Labor and Social Affairs counted the money recovered from transgressors since its establishment and during the current year 2024, while explaining the reason for the cessation of its projects.
The Director General of the Fund, Siham Abdel Wahab, said, “(90) billion dinars have been recovered from the beginning of the Fund’s establishment in 2015 until now, while the funds recovered during the current year from the period 1/1/2024 to 4/30/2024 amounted to a limit of (5) billion dinars after the intersection of information and extracting the names of the transgressors.” LINK
"RV UPDATE" BY BEARDED PATRIOTUSA, 12 MAY
BEARDED PATRIOTUSA
The last I heard was that Iraq is waiting on our USTN to be announced.
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🇨🇳🇮🇷CHINESE COMPANIES WON BIDS TO EXPLORE FIVE IRAQI OIL AND GAS FIELDS ON SATURDAY IN A LICENSING ROUND FOR HYDROCARBON EXPLORATION THAT WAS PRIMARILY AIMED AT RAMPING UP GAS PRODUCTION FOR DOMESTIC USE.
AN IRAQI KURDISH COMPANY ALSO TOOK TWO OF THE 29 PROJECTS UP FOR GRABS IN THE THREE-DAY LICENSING ROUND ACROSS CENTRAL, SOUTHERN AND WESTERN IRAQ, WHICH FOR THE FIRST TIME INCLUDES AN OFFSHORE EXPLORATION BLOCK IN THE COUNTRY'S ARAB GULF WATERS. REUTERS.COM/BUSINESS/ENERGY/… ...
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Deputy: Iraq Represents An Important Factor In The Stability Of The Global Oil Market, 12 MAY
Deputy: Iraq Represents An Important Factor In The Stability Of The Global Oil Market
Economy | 05:40 - 05/11/2024 Mawazine News – Baghdad MP Nour Nafie Al-Jalaihawi confirmed, on Saturday, that Iraq represents an important factor in the stability of international markets in the oil and energy file.
Al-Julaihawi said, in an interview followed by Mawazine News, that “developing Iraq’s oil and gas fields is an important strategy in order to strengthen the country’s economy, diversify its revenues, and seek to raise the efficiency of its production capacity in a way that contributes to increasing exports.”
She added, "The Prime Minister's launch of the fifth supplementary licensing round and the sixth round, which will include 29 projects in fields and exploratory patches, whether oil or gas, spread across 12 governorates, is a step in the right direction that will lead to achieving three positives at the same time: increasing its ability to pump oil and produce gas and reducing the bill."
Importing the latter, in addition to revitalizing neighboring regions and providing more job opportunities, not to mention supporting the governorates and financing service projects.”
She stated that "Iraq represents an important factor in stabilizing international markets in the energy file and increasing its production capacity is a step in the right direction, especially gas fields, in order to reach the stage of sufficiency." https://www.mawazin.net/Details.aspx?jimare=247775
"RV UPDATE" BY HOLLY, 12 MAY
HOLLY
⚠️⚠️⚠️⚠️⚠️
➡️ Just now on Bloomberg, discussions on interest rates that we know cannot change because the Fed doesn’t exist….
“We are moving towards a global resetting narrative.”
A global reset? Ya don’t say. They are saying a lot of quiet parts out loud now. 👀
⬇️⬇️⬇️⬇️⬇️
Iraqi Dinar Holders 👇👇👇
Remember hearing how the UN Council stated in Davos now a few months back how Iraq would be the savior of the global financial system?
Why did they say that? What were they telling us? That maybe they are saving the Iraqi Dinar RV for just the right time for when the global system resets.
It's now more clear than ever the budget, schedules, and timelines are all part of the narrative. Nothing is being left to chance.
Holding the Iraqi Dinar, Cryptocurrency, Gold and Silver will be your personal financial savior. ✅
https://x.com/schleef/status/1788937601443099017?s=46
"WITH ALL DUE RESPECT PARLIAMENT... SIT DOWN & SHUT UP" BY FRANK26, 12 MAY
KTFA
FRANK26: "WITH ALL DUE RESPECT PARLIAMENT... SIT DOWN & SHUT UP"............F26
Revealing the date of the arrival of the 2024 budget schedules
5/11/2024
Information / Baghdad..
Today, Saturday, the Parliamentary Finance Committee revealed the date of the arrival of the budget schedules for the current year 2024 to Parliament, confirming Parliament’s readiness to receive the schedules.
The Vice-Chairman of the Committee, Ikhlas Al-Dulaimi, told Al-Maalouma, “The Finance Committee will work as soon as possible to present the 2024 budget schedules for a vote as a result of the necessary need to pass them to keep pace with state affairs.”
She added, "The Finance Committee is awaiting the budget schedules from the government next week, noting the need for a maximum of two weeks to read and discuss amendments to the schedules before submitting them to a vote."
She pointed out that "the House of Representatives is fully prepared to receive the schedules and discuss them in order to pass them as quickly as possible."