Thursday, August 24, 2023
Chinese oil companies lead purchases of Iraqi oil in July, SOMO reports, 24 AUGUST
Shafaq News/ Iraq's state-owned marketer SOMO reported on Thursday that Chinese oil companies secured the top spot as the most prolific buyers of Iraqi oil in July.
According to SOMO's official website, ten Chinese companies were among the 40 international firms that engaged in purchasing Iraqi oil during that month.
Indian companies occupied the second position, with seven companies participating. South Korean and American companies were tied for third place, each represented by four firms.
Italian companies ranked fourth with three, and Greek and Emirati companies held fifth with two entities each. The remaining buyers included single companies from Turkey, Spain, the Netherlands, the UK, Kuwait, Jordan, Azerbaijan, Malaysia, and Japan.
SOMO emphasized that its process for selling Iraqi oil revolves around key criteria for contracting with diverse international oil companies, encompassing major, medium, independent, and vertically integrated governmental corporations.
The organization highlighted notable participants in the Iraqi oil market, with significant purchases attributed to the Indian Hindustan Company, South Korean KOGAS, American Exxon Mobil, British Dutch Shell, and Italian Eni.
https://shafaq.com/en/Economy/Chinese-oil-companies-lead-purchases-of-Iraqi-oil-in-July-SOMO-reports
DINARLAND UPDATE, 24 AUGUST
Walkingstick (KTFA)
[Aki’s Iraqi Bank report]
Not all banks will be brought back even though they will all be online. This is to monitor them. This step has already started. It is already well advanced … Bringing these banks back online is needed for the monetary reform…these banks are scattered all over Iraq…
MarkZ
[via PDK]
Its been quiet on the RV front – Quiet on purpose… The supposed goal for all my sources was yesterday. They are very quiet so I know nothing on timing right now. Many still think they will get it done this month. I sure hope so…we all need it. The world needs it.
Sandy Ingram
Iraq has 3 significant tasks before we will see an increase in the currency’s value.
1. Rebuild their infrastructure, which they are actively doing…
2. Making the country safe for citizens and international investors. In other words stopping the assaults against foreign investors. International investors want to invest in Iraq because their investment will be worth more when the value of the IQD increases.
3. Creating additional streams of income outside of the oil industry.
Iraq is actively making progress by implementing new factories…road projects connecting Asia to Europe and partnering with a neighboring country to build oil vessels…
"IRAQ BOOTS ON THE GROUND REPORT" BY FIREFLY, 24 AUGUST
Frank26 (KTFA)
It’s like a black hole in space. We know it exists. We can see all the evidence…the gravitational fields around the black hole is the evidence of it…You just can’t see it. The monetary reform is alive, is moving, is activated. The new exchange rate is coming to the citizens. The currency will float…everything we want is occurring…we are at the ‘event horizon’…
All I know is that things are coming to a crescendo…at that high point where there’s nothing else to climb…you’re at the very end.
[Iraq boots-on-the-ground report]
FIREFLY: Our government is saying USA defense interest is secured in Iraq for the first time since 2003. Wow! That’s when we were at 1 to $3. Iraq agrees on the troops being here in Iraq. I guess Sudani wants you guys here…this is a win-win for all of us.
FRANK: Let’s see you try to steal something now.