Sudanese calls on oil companies to invest in Iraq, 1 OCT
Prime Minister Muqtada Al-Sadr emphasized the importance of completing the expansion and maintenance of Iraqi oil ports.
The office of Al-Sudani released a statement saying that Prime Minister Muhammad Shia’ Al-Sudani chaired a regular meeting to discuss the development of the oil sector. The meeting was attended by the Minister of Oil and other high-ranking officials of the ministry. The discussion included a review of the ministry’s projects related to gas investment, refineries development, and export systems. The ministry’s plan to increase production and improve wealth investment efficiency was also reviewed during the meeting.
The statement emphasized that the Prime Minister has urged the adoption of the “integrated project” principle for investing in oil and gas fields. This principle should include various projects for petrochemical refineries, gas industry, electric power production stations, chemical, and fertilizer industries. These projects aim to fulfill the urgent demand for them in local markets.
During the meeting, a review of the progress of work in refinery projects was conducted. The attendees emphasized the importance of completing these projects as quickly as possible to achieve self-sufficiency in oil derivatives and fuel. The successful operation of the Karbala refinery was also highlighted.
Al-Sudani instructed the Ministry of Oil to invite specialized refinery construction companies to invest in Iraq.
He emphasized the importance of finishing gas projects and investing in Iraqi fields that produce natural gas. This is necessary to supply power stations and national fertilizer factories with sufficient gas.
Al-Sudani emphasized the need to complete expansion and maintenance projects for Iraqi oil ports, storage, and drainage complexes across the country.
The director instructed to keep track of the progress made in implementing the ministry’s short-term and long-term plans. These plans aim to meet the local economic needs as well as the global demand for oil and oil products from Iraq in the near future. Additionally, the director emphasized the importance of highlighting Iraq’s significant and effective role in OPEC.
He emphasized the importance of completing projects on time and overcoming administrative and technical obstacles.
Sudanese: The development route is the best, shortest, and least expensive corridor in terms of transportation and transit
On Sunday, Prime Minister Muhammad Shiaa Al-Sudani confirmed that the Iraqi government is prioritizing the development road project as a key strategic initiative.
During a meeting today with Turkish Minister of Transport Abdulkadir Oraloglu, who is visiting the capital Baghdad, Iraqi Minister of Transport, Nasser Al-Shibli, discussed the progress of the development road project between Iraq and Turkey. The purpose of the meeting was to clarify and solidify the joint understandings between the two countries regarding the project. A statement issued by Al-Sudani’s office confirmed this.
The statement attributed to Al-Sudani mentioned that the development road project will enhance the relationship between Iraq, Turkey and other countries in the region through common interests. He stated that this project will be the most efficient, quickest and cost-effective transportation corridor for linking the Middle East to the European continent.
In the statement, it was mentioned that Al-Sudani expressed his admiration for the Turkish side’s eagerness to take part in the significant project. He emphasized the importance of maintaining a constant technical dialogue between the two nations to devise an economic model that will facilitate the execution of the project.
The Turkish Minister of Transport has expressed his country’s strong interest in participating in the road development project. He commended Iraq’s efforts in advancing and reforming its economy, and expressed satisfaction with the plans and crucial measures taken by the Iraqi government.
On Saturday, the Minister of Transport, Razzaq Muhaibas Al-Saadawi, held a meeting with the Turkish Minister of Transport and Infrastructure, Abdulkadir Uraloglu, and his delegation in Baghdad to discuss a road development project.
A development road project worth an estimated 17 billion dollars is set to connect the important port of “Al-Faw Grand Port” on the southern Iraqi coast to the border with Turkey by extending a railway and road network. This project aims to facilitate the transportation of goods and improve connectivity across the region.
The development of a road project aims to connect the oil-rich southern port of Al-Faw in Iraq with Turkey, making the country a transit hub by reducing travel time between Asia and Europe. This project is intended to compete with the Suez Canal.
The Iraqi government plans to extend high-speed train lines to local industrial and energy centers for transporting goods and passengers at a speed of up to 300 kilometers per hour, which may include oil and gas pipelines.
The current plan involves modernizing and building over 1.2 thousand kilometers of railways and highways connecting Iraq to neighboring countries, ultimately linking the main transportation roads to the main port of Al-Faw located on the shores of the Gulf.
[via PDK] Question: Does the RV (Revaluation) have to happen before Iraq ascends to the World Trade organization on Oct. 4th? Not...but the dinar has to be a fully accepted international currency all around the world without any restrictions…this would be a massive change.
I am continuing to hear very positive stuff on expectations of a rate change. They are giving us dates from this weekend to sometime in the first week of October.
The Hydo Carbon Law...It's where they share money, profits, revenues from oil-natural gas etc…with the citizens of Iraq including the Kurdish region. We have been told for many years this is a key piece. And Very soon after the HCL was implemented we were told that we would see the dinar value changes.
I have had some whales reach out to tell me they have a potential for weekend travels. A number of sources believe it’s this weekend and others think between the 5th and 12th of Oct...Just stay calm and know things are quickly moving.
Parliamentary Finance hosts the Ministers of Planning and Finance regarding the delay in budget implementation
The Parliamentary Finance Committee decided to host the Ministers of Planning and Finance; To find out the reasons for the delay in budget implementation.
The head of the committee, Atwan Al-Atwani, said during the committee’s hosting of the governors: “There is a clear failure in releasing financial allocations to the governorates and ministries,” noting that “the committee will host the ministers of planning and finance this week to find out the reasons for the delay in implementing the budget.”
He stated, "The current government has raised the slogan of a national service government, and we will not allow the problem of delaying the disbursement of financial allocations to continue," pointing out, "Our insistence on approving the tripartite budget came to enable the governorates and ministries to implement their plans and programs and to avoid stopping funding at the end of the fiscal year."
He stressed "the necessity of releasing petrodollar allocations to oil-producing governorates," pointing out "the importance of simplifying procedures for approving programs and plans to accelerate the launch of project implementation." link