An Oil and Gas Revolution: Iraq’s New Legislation and its Implications, 28 SEPT

 An Oil and Gas Revolution: Iraq’s New Legislation and its Implications, 27 SEPT

After over a decade of lengthy discussions and multiple delays, Iraq is on the brink of executing an oil and gas law that could grant international corporations a piece of the country’s oil production. This significant move is expected to materialize after the municipal elections in December, marking a potential turning point for Iraq’s oil and gas sector.

Underlying Issues and Controversies

However, the road towards this monumental change is not without its bumps. Unresolved issues persist between the federal government in Baghdad and the Kurdistan Regional Government (KRG) in Erbil. A crucial point of disagreement is the proposed leadership for the planned federal oil and gas council. The proposal suggests the Oil Minister of Iraq should chair this council, but the Kurdistan region insists that its own Oil Minister should be part of the council’s leadership.

The new law proposes an equitable distribution of profits from oil exports among Iraq’s governorates, based on their gross domestic product (GDP). This approach is designed to ensure a fair and equal distribution of the country’s oil wealth across its various regions. Moreover, this law would empower each governorate to independently grant oil concessions and sign contracts for exploration and production.

National Benefits and International Implications

With this legislation, Iraq hopes to optimize its oil resources to attract foreign investments and stimulate its oil and gas sector. The move signifies a major policy shift, potentially opening up the country’s vast oil reserves to international companies after years of state control.

Despite the promising prospects, the law is expected to face resistance from various quarters. Opposition to the law may come from those who perceive it as a threat to national sovereignty or fear that it could exacerbate regional disparities. Nonetheless, the potential benefits of this law – both for Iraq and for international corporations – make it a development to watch in the coming months.

https://bnn.network/world/iraq/an-oil-and-gas-revolution-iraqs-new-legislation-and-its-implications/

Historic Railway Link: A New Chapter in Iraq-Iran Trade and Connectivity, 28 SEPT

Historic Railway Link: A New Chapter in Iraq-Iran Trade and Connectivity

A New Era of Detente

As the Middle East continues to evolve and change, a significant development in the transportation and trade sector is underway. Iraq and Iran, two neighboring nations with shared geographical borders and cultural, religious, and historical ties, are preparing to establish a historic railway link. This project is seen as a testament to the strengthening bilateral relations between the two nations and heralds a new era of detente. It is a strategic move designed to promote regional connectivity, stimulate economic growth, and foster mutual cooperation in various sectors.

Project Timeline and Significance

(Also Read: Socialists Demand Defence Minister’s Resignation, Extraordinary Meeting of Defence Committee in Parliament)

According to an Iraqi transport advisor, the railway link will be operational within a period of 18 months. This announcement signifies an important milestone in the ongoing dialogue and cooperation between Iraq and Iran. The railway link is expected to open new avenues for trade, tourism, and cultural exchanges, transforming the economic landscapes of both countries. Moreover, the project is expected to cost around US$150 million, making it a significant investment in the region’s future.

Geopolitical Implications and Economic Dynamics

The railway link could also have significant geopolitical implications, potentially reshaping the economic dynamics in the Middle East. It may serve as a strategic trade route, providing both countries with an efficient and cost-effective means of transporting goods and services across their borders. This would not only facilitate trade but could also attract foreign investments, thereby contributing to economic development and stability in the region.

Linking Iraq to China’s Belt and Road Initiative

Beyond just enhancing Iraq-Iran relations, the railway link will also connect Iraq to China’s Belt and Road Initiative. This connection will vastly improve communications in the wider region and bring Iran closer to Syria, thereby establishing a channel between these countries. The link will also enable the transit of various commodities such as consumer goods, construction materials, and minerals from Tehran to Shalamcheh, then to Basra, and finally to Qaem Abu Kamal on the border with Syria.

Concerns and Opposition

(Also Read: PM Denkov Optimistic About Adoption of Constitutional Revisions)

Despite the many potential benefits, the project has raised some sensitivities. Concerns have been voiced about the potential for the railway to enhance Iranian influence in Iraq and Syria. Additionally, there are worries about the possible marginalization of the port of Faw in Iraq. However, the volume of trade anticipated makes it unlikely that the port of Faw will be marginalized.

Conclusion: A Promising Development

In conclusion, the upcoming railway link between Iraq and Iran is a significant development that holds much promise for the future of trade and economic cooperation in the Middle East. The project, which is expected to be completed within 18 months, is seen as a strategic move that could potentially transform the economic landscapes of both countries and reshape the economic dynamics in the region. It’s a promising development that could redefine the region’s future and establish Iraq and Iran as key players in the international trade and transportation sector.

https://bnn.network/world/iraq/historic-railway-link-a-new-chapter-in-iraq-iran-trade-and-connectivity/

Great Anticipation Oct 3rd - 4th?💣This is It?!🤔Iraq Dinar RV Updates | 9...

"RV UPDATE" BY MILITIAMAN, 28 SEPT

 Militia Man 

 Article quote:  "All state contracts inside Iraq shall be in Iraq dinars."  I don't know what else to say.

 Alaq the central bank governor he's posting some things on the CBI website that's pretty powerful.. .24 pages of instructions talking about international banking...He also put a piece out specifically talking about a new system of external transfers...This particular piece is phenomenal because he's working with the Central Bank of Iraq and the United States Federal Bank...They're talking about different currencies...UAE dirham, Turkish lira, European euro, Indian rupee...He's been knocking it out of the park.

  Article:  "Alaq pointed out the new system of external transfer and the sale of dollars provides protection from risk to all parties to operations and enjoys international acceptance."  There you go.  I think that's kind of almost a drop the mic situation...

Early Elections and Reform Plans: An Insight into Iraq’s Future, 28 SEPT

 Early Elections and Reform Plans: An Insight into Iraq’s Future, 27 SEPT

According to a recent press interaction with Iraqi Prime Minister Mohammed S. Al-Sudani, the prospects of early elections in Iraq hinge on the Council of Representatives’ decision to dissolve itself. The Prime Minister further assured that the government is ready for such elections. During the interaction, Al-Sudani discussed a myriad of issues ranging from political and economic reforms to social welfare initiatives.

He pointed out that the country has observed a shift in political forces emphasizing more on service delivery and economic development rather than sectarianism and identity politics. This change is evident in the over 300 registered parties contesting in the Provincial Council Elections, demonstrating a rise in political stability.

Social Protection and Economic Reforms

Al-Sudani shed light on the new Social Protection Law geared towards addressing multidimensional poverty. The law aims to assign $4 billion in 2023, with particular measures such as cash subsidies for students and children from low-income families, and an increase in ration card packages for those within the social protection network. The Prime Minister believes that these strategies, combined with a three-year budget plan for poverty, could drastically reduce poverty rates in Iraq within five years.

Furthermore, the Prime Minister affirmed the government’s pledge to support the private sector and battle corruption through systematic policies. These policies include reclaiming stolen public money, pursuing corruption suspects, and implementing tax, customs, and electronic payment reforms.

The Prime Minister also discussed the country’s currency and banking sector, highlighting the connection between the US dollar price and the crucial banking and financial sector reforms being carried out by the government. He indicated that exchange rate fluctuations represent a struggle between legitimate transactions and groups reliant on US dollar trading.

Regional Dialogue and Human Rights

In the regional context, Al-Sudani emphasized Iraq’s leading role in promoting regional dialogue and its active involvement in the Development Road Project. He expressed concern about the stability of Syria, suggesting that any instability in Syria could risk a resurgence of ISIS and pose a threat to regional security.

On human rights, the Prime Minister reassured that no individual is detained without a judicial order, and that stringent legal procedures are observed. He also stressed the provision of retrials for all criminals, including those sentenced to death, under Iraq’s amnesty laws.

Finally, the Prime Minister revealed that the Baghdad Conference is poised to expand due to requests from the United Kingdom, Germany, Spain, and Italy to attend and participate. He also mentioned the government’s commitment to maintaining a strong bilateral relationship with the United States for security cooperation.

Coffee with MarkZ 09/28/2023

Note From PDK: This podcast has about  5 minutes of RV related news….That is all I transcribed today…..The rest of the call is not specifically RV related. 

MarkZ  Update- Some highlights by PDK-Not verbatim

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:  Good morning, everyone….. lots of excitement in the air

MZ:  There is a lot of expectation for announcements sometime today

MZ: Fairly quiet overnight. We have had some whales –in states without Wells Fargo banks –get contacted by out of state WF ‘s saying that they are prepared for them. They are going to be mad at me for using the WF name…but it’s happening..

MZ: So we are having a lot of scrambling at the banker level now who are chasing whales to make sure they get their business. 

MZ: IMO things are ramping up …everything feels good and smells good and I think “Soon” actually means “Soon” for a change .

Member:  When they announce the new rate in Iraq- will we get the same rate when we exchange?

MZ: I am told when we go to exchange and use one of the “qualifying banking centers” in other words has the staff with special training and the special verifying equipment….I am told our rate is “pre-determined” and we don’t have to pay fees and get better service…all of those things. 

MZ: My bankers still believe there is a bonus to be gained in the rate offered to us  because of the “Oil For Dinar” program….and they will be offering us a higher rate. 

MZ: Redemption folks are ready. They are on call and they are in and out of the office. They are waiting for the “GO”. 

THANKS FOR JOINING. HAVE A BLESSED DAY! SEE YOU ALL THIS EVENING FOR NEWS @ 7:00 PM EST ~ UNLESS BREAKING NEWS HAPPENS!

Note from PDK: Please listen to the replay for all the details and entire stream….I do not transcribe political opinions, divisive social commentary, medical opinions or many guests on this stream……just RV/currency related topics. 

IRAQ News URGENT Info IQD Investors We Can Handle This Issue BY SANDY INGRAM