Dawn of a New Era: Iraq’s Stride Towards Energy Independence, 15 OCT

 Dawn of a New Era: Iraq’s Stride Towards Energy Independence, 15 OCT

As the sun set over the Tigris River, painting the horizon with hues of gold and orange, a new dawn was quietly breaking in Iraq’s energy sector. In an unassuming ceremony in February, the ink dried on three energy contracts between Iraq and UAE-based Crescent Petroleum. The contracts, a harbinger of change, were set to develop three oil and gas fields in the ancient lands of Basra and Diyala.

Breaking Free from the Chains of Dependence

These 20-year contracts are not just a promise of economic progress but are also a beacon of hope. They are expected to start churning out 400 million standard cubic feet of natural gas daily within 18 months, breathing new life into Iraq’s energy landscape. This development holds great significance, as it will help Iraq reduce its reliance on Iranian gas imports, a dependence that has long been a thorn in its side.

A Step towards Self-Sufficiency

“Our operations will stop gas flaring and use the processed gas to generate electricity,” said Hayan Abdel-Ghani, Iraq’s Oil Minister, his eyes gleaming with anticipation. For a country that has been heavily dependent on Iranian gas imports to power its grid, this is no small feat. It is a bold stride towards self-sufficiency, a step away from the shackles of dependence. Moreover, this development aligns with the United States’ urging Iraq to reduce its reliance on Iran.

Transforming the Energy Landscape

The joint venture between Iraq and Crescent Petroleum is more than just a business deal. It signifies a transformative phase in the country’s energy landscape, a shift in its geopolitical alliances, and a stride towards energy independence. The partnership heralds a new era where Iraq is not just a playground for power politics but a key player in the global energy arena.

Charting a New Course

As Iraq charts a new course, there will undoubtedly be challenges and hurdles to overcome. However, the promise of a brighter, more independent future provides the impetus to persevere. The country stands at a critical juncture, ready to harness its own resources and dictate its own destiny. With these contracts, Iraq is not just tapping into its oil and gas fields; it’s tapping into its potential, signaling to the world that it’s ready to take its place on the world stage.

https://bnn.network/world/iraq/dawn-of-a-new-era-iraqs-stride-towards-energy-independence/

"RV UPDATE" BY MILITIAMAN, 15 OCT

 Militia Man 

  Article:  "China hosts representatives from 130 countries at the New Silk Roads Forum" 

 This Belt Road project is linking right through Iraq.  Al-Sudani just met with Putin on his Development Road Project as well... The 10th anniversary of this coinciding with electronic systems hook ups in Iraq are looking to be timed   accordingly...I like it.

 Sudani has been knocking it out of the park.. .Turkey is going to be massive...building road, industrial cities, industrial parks. 

 Think about all the infrastructure that has to go into that.  Water, sewer, roads, electrical...All kinds of things happening behind the scenes.  

 Article: "Parliamentary Energy: Work is continuing towards passing the oil and gas law"  

  This is going to be a big deal and it needs the same thing everyone else needs and that is the international acceptable currency exchange rate. The way they are talking on this gives me the impression they are ready for the rate, so that they can discus, read and vote on it.  Who wouldn't vote for it when it is for all Iraqi people. I am sure the priority is going to be toward a yes vote...A unanimous one at that!

Al-Sudani leads banking reform discussion, 15 OCT

 Al-Sudani leads banking reform discussion, 15 OCT

Shafaq News / Iraqi Prime Minister, Mohammad Shia Al-Sudani, presided over a meeting on Sunday to deliberate on banking reform measures. He directed the simplification of all banking procedures and called for a proposed list of facilitations to be prepared within a week.

.In a statement issued by Al-Sudani's media office, it was stated that, "As part of his follow-up on the implementation plan for financial and administrative reforms in both the financial and banking sectors, Prime Minister Mohammad Shiaa Al-Sudani chaired a meeting this evening.

The meeting was attended by the Central Bank Governor and directors of government banks. During the meeting, discussions were held on the procedures and mechanisms adopted to achieve banking reform, which constitutes one of the fundamental steps in the financial and economic reform embraced by the government in its executive agenda."

Al-Sudani emphasized, "Financial reform is not merely a slogan but a series of concepts and measures that the government is determined to implement without hesitation. It will confront all challenges and obstacles that hinder the implementation of well-thought-out reform plans."

According to the statement, the Prime Minister instructed the simplification of all banking procedures and the preparation of a proposed list of facilitations and streamlined procedures to be submitted within a week. Additionally, a summary detailing the obstacles hindering the banking reform process, along with effective and executable solutions, is to be presenteD.

https://shafaq.com/en/Iraq-News/Al-Sudani-leads-banking-reform-discussion

iraqi Dinar Latest Rate update today 2023 / iraqi dinar Revaluation / ir...

Iraqi Dinar🔥IQD 2023 Exchange Rate Hovers Between $3.22 and $3.30 Today🔥...

"RV UPDATE" BY RAYREN98, KAPERONI & WALKINGSTICK, 15 OCT

  RayRen98 

 ...I DO "BELIEVE" THAT IT HAS BEGUN!! RATES DID CHANGE IN IRAQ LAST WEEK...MAYBE AGAIN OVER THE WEEKEND? 

WAITING TO HEAR FROM SOME FOLKS WHO WERE EXCITED LAST NIGHT AND WERE LOOKING TO SEE SOMETHING (BEHIND THE SCENES) THROUGHOUT THE NIGHT...TIME WILL TELL

..."WE WERE TOLD ON WEDNESDAY TO LOOK TOWARDS MONDAY...THAT TIMETABLE HAS BEEN SHORTENED...CONSIDERABLY "

Kaperoni 

 The only way for Iraq to raise the value would be to do so gradually over time based on the success and growth of the economy. Doing so would allow them to withdraw the large quantities of currency as the economy prospers. It also would allow them to float the currency based on the economic success and diversification.  

Walkingstick

  HCL payments are all over the world where Iraqi citizens live, where they qualify for these funds..

An important economic recommendation for the Central Bank after it used exchange companies to sell dollars to travelers, 15 OCT

 An important economic recommendation for the Central Bank after it used exchange companies to sell dollars to travelers

An important economic recommendation for the Central Bank after it used exchange companies to sell dollars to travelersOn Saturday, economist Omar Al-Halbousi recommended that the Central Bank choose prudent exchange companies that adhere to its decisions and procedures to sell dollars to travelers at airports.

Al-Halbousi told “ Jarida ” that “exchange companies are considered more connected to the public, as they are the easiest and fastest in doing business, and that the Central Bank’s decision to use police methods to fight and restrict them exacerbated the exchange rate crisis, and proved that they were not behind the dollar leak.”

He stressed, “The evidence for this is that despite fighting it and strangling it with measures, the dollar continued to leak into the black market and out of Iraq, and that the Central Bank sided with the real problem and went to the exchange companies, which because of its measures increased the difference between the two prices.”

He explained, “The Central Bank of Iraq’s decision to ask exchange companies to open branches at airports to sell dollars to travelers contradicts its previous measures to fight them, which is what made it return today once again to seek their help in selling dollars.”

He added, “Therefore, we hope that the choice will be for prudent companies that are committed to the decisions and procedures of the Central Bank and avoid favoritism, as happens in favoritism with private banks, which contributed to complicating the exchange rate problem and embarrassing Iraq before the US Treasury Department.”

jaredaiq.net