Iraq to award 30 new oil and gas projects in latest licensing rounds, 18 OCT

 Iraq to award 30 new oil and gas projects in latest licensing rounds, 18 OCT

Iraq, Opec's second-largest producer, will award 30 new oil and gas projects in its "fifth +" and sixth licensing rounds.

The fifth + comprises 16 new projects, some of which were not awarded in the fifth licensing round, an Iraqi oil ministry official said during a press conference at Adipec on Tuesday.

The sixth licensing round will include 14 projects, he said, adding that the deadline for international oil companies to send a formal letter of intent was January 2024.

Encouraged by an improved security situation, Iraq in 2009 began to attract international oil companies to help develop its resources.

Since then, the nation has awarded  dozens of oil deals to develop major fields that hold more than half of its 145.02 billion barrels of proven reserves. Contracts to tap natural gas resources have also been awarded.

Major oil companies operating in the Arab country include Exxon Mobil, Royal Dutch Shell, BP, China’s CNPC and Russia’s Lukoil.

In July, Iraq signed a $27 billion agreement with France’s TotalEnergies to develop oil and gas resources to improve the country’s electricity supply in the biggest single foreign investment in the nation.

Iraq's northern oil export route through Turkey will begin operations this week, Turkey's Energy Minister Alpaslan Bayraktar said on Monday during a panel session at Adipec.

In late March, Turkey halted the flow of oil produced in the region after an arbitration court ruled in favour of Baghdad, saying Ankara had breached a 1973 agreement when it allowed Iraqi-Kurdish authorities to pump without Baghdad's consent.

Iraq's development of its oil and gas reserves comes amid a situation of chronic underinvestment in the broader sector, which has added to crude market volatility.

Oil and gas upstream capital expenditure rose by 39 per cent to $499 billion last year, the highest level since 2014, the International Energy Forum said.

However, annual upstream spending needs to increase to $640 billion by 2030 to ensure adequate supplies, the IEF has said.

The oil and gas industry will require $14 trillion, or $600 billion a year, in investment from now until 2045 to ensure energy security, according to Opec.

https://www.thenationalnews.com/business/energy/2023/10/03/iraq-to-award-30-new-oil-and-gas-projects-in-latest-licensing-rounds/

Israel-Gaza war: Saudi Arabia and Iraq discuss need to end conflict, 18 OCT

Israel-Gaza war: Saudi Arabia and Iraq discuss need to end conflict

Iraqi Prime Minister Mohammed Shia Al Sudani met Saudi Foreign Minister Prince Faisalbin Farhan on Monday in Baghdad and discussed a wide range of issues, including the escalation of violence between Gaza and Israel.

Saudi ambassador to Iraq Abdulaziz Al Shammari, and Abdulrahman bin Arkan Al Dawood, director general of the office of the minister of foreign affairs, also attended.

The ministers discussed ways to bolster and develop bilateral relations between their countries.

Prince Faisal conveyed greetings on behalf of King Salman and Crown Prince Mohammed bin Salman to Iraq and its people. Mr Al Sudani reciprocated with similar greetings for the leadership of the kingdom.

The ministers also spoke about regional and international developments and discussed issues to help support regional security and stability.

Mr Al Sudani’s office said both sides discussed the “developments in the occupied Arab territories in Palestine and the consequences of these events on the Palestinian people”.

The bloody escalation entered its fourth day on Tuesday, with the death toll exceeding 1,600 and thousands more injured.

On Saturday, Hamas militants in Gaza launched Operation Al Aqsa Flood, the biggest attack on Israel in years. The surprise assault involved gunmen crossing the border from Gaza with a heavy barrage of rockets from the Palestinian enclave.

"Both sides discussed ways to unify stances and to end this strife as soon as possible," Farhad Alaaldin, foreign affairs adviser to Mr Al Sudani, told The National.

They also underlined the "firm stance towards the Palestinian cause" and the "legitimate right to have the Palestinian state", Mr Alaaldin said.

It is still unclear what role Baghdad can play in the Israel-Hamas conflict. However, Mr Alaaldin said "Iraq is playing a vital role in this regard", without elaborating.

On Monday, Iran-backed Shiite militias in Iraq warned the US they would target its assets in the region if it intervened directly.

Mr Al Sudani also “reaffirmed commitment to not allowing its territory to be used for attacks against any other nation”.

On Saturday, Saudi Arabia called for “an immediate halt to the escalation between the two sides, the protection of civilians, and restraint”.

Its statement said: “The Kingdom recalls its repeated warnings of the dangers of the explosion of the situation as a result of the continuation of the occupation, the deprivation of the Palestinian people of their legitimate rights.”

The Iraqi government's statement on Sunday said: “Iraq reiterates its steadfast stance, in support of the Palestinian cause. We stand with the Palestinian people in their efforts to realise their aspirations and attain their full legitimate rights. Sustainable peace cannot be achieved in the presence of injustice and the denial of these rights.”

The Iraqi government also warned of the crisis' potential to destabilise the entire region.

Prince Faisal was received at the airport by his Iraqi counterpart Fuad Hussein and deputy ministers on Monday.

In recent years, both countries have signed agreements related to politics and commerce, leading to the opening of a major border crossing at Arar.

In May, the Saudi Public Investment Fund, the kingdom's main sovereign wealth fund, announced a new unit to invest in industries across Iraq, with capital of $3 billion and its headquarters in Saudi Arabia.

Earlier this year, Safia Al Suhail, an Iraqi politician and former ambassador in Rome and Amman, made history as she became Iraq's first ever female ambassador to Saudi Arabia.

Both sides also discussed the maritime disputes between Iraq and Kuwait.

"The government is committed to UN resolutions and agreements and encourages resuming the work of the joint committees with Kuwait in order to find legal ways to solve the issue," Mr Alaaldin said.

https://www.thenationalnews.com/gulf-news/2023/10/10/saudi-arabia-and-iraq-discuss-ways-to-boost-relations-at-baghdad-meeting/

The Cost of War: Can the U.S. Sustain Funding Israel and Ukraine?"

"RV UPDATE" BY MILITIAMAN, 18 OCT

 Militia Man 

 When they do direct banking to go international it's not going be at a rate like 1310, it's going to be something that's fair, real effective exchange rate, something similar to that...

This is good information.  It's phenomenal.  Central banks' involved, the appropriate ground has been set for the auction window to leave...

 Al-Sudani said he's keen on BRICS for all you BRICS lovers but obviously he's not going into BRICS at 1310...

>Article: "...Representative have agreed on the importance of passing this law [HCL] because it guarantees the fair distribution of wealth to all Iraqis..." 

 That's everybody in parliament, that's everybody, so I think there isn't going to be anybody that would miss that vote... So why haven't they done it?  They have to value that.  That's what we're waiting for to see if they have a new valuation for that based off the new international exchange rate...

There's a lot of movement and evidence to suggest Iraq is going to to international. 

 They pretty much have all the tools they need to do so.  We haven't seen any payment internationally for projects.  We know the 23, 24 and 25 budget has not been spent yet...It's all very good.

Iraq and UAE's Crescent Petroleum activate deals to develop oil and gasfields, 18 OCT

 Iraq and UAE's Crescent Petroleum activate deals to develop oil and gasfields

Sharjah-based energy company Crescent Petroleum and the Iraqi Oil Ministry have put into effect three agreements to develop oil and gasfields in the country as Baghdad seeks international collaboration to boost its energy supply.

Crescent Petroleum, which signed the three 20-year contracts in February, is expected to produce 400 million standard cubic feet per day of natural gas within a period of one and a half years, the Iraqi ministry said on October 15, citing Iraq's Oil Minister Hayan Abdel Ghani.

Activating these contracts will help Iraq to prevent gas flaring and use the processed gas to generate electrical power, the minister said.

The contracts cover the production of natural gas from two oil and gas blocks in northern Diyala province, while a third in Iraq’s main oil-producing region of Basra will be explored and developed to add further supplies.

“These new projects will deliver much-needed gas to generate electricity in Iraq and create thousands of new jobs that will boost the economy and contribute to the country’s economic development, particularly in Diyala and Basra governorates,” Abdulla al Qadi, executive director of exploration and production at Crescent Petroleum, told The National.

“We look forward to a fruitful partnership with our partners in the Midland and Basra Oil companies for the benefit of the people of Iraq in the decades to come.”

The three contracts were awarded as part of Iraq's fifth licensing round for oil and gas projects, with the country attracting international oil companies to help develop its resources.

Iraq, Opec's second-largest producer, last week said it would award 30 new oil and gas projects in its “fifth +” and sixth licensing rounds.

The “fifth +” round comprises 16 new projects, some of which were not awarded in the fifth licensing round, while the sixth licensing round will include 14 projects, an Iraqi Oil Ministry official said.

Major oil companies operating in the Arab country include Exxon Mobil, Royal Dutch Shell, BP, China’s CNPC and Russia’s Lukoil.

Iraq's continuing oil and gas project licensing rounds come at a time when it is heavily reliant on gas imports to feed its power grid.

The country's electricity demand in summer exceeds 35 gigawatts but its obsolete plants and grid can produce only about 25 gigawatts, resulting in lengthy power cuts and the use of contaminating and expensive private diesel generators.

Saudi Arabia last week said it had inaugurated the Gulf electricity market project's connection platform with Iraq. This will enable the exchange and trade of electric power between the Gulf bloc and Iraq, helping the latter to meet its growing demands for power.

Iraq's electricity demand is set to double between 2019 and 2030, with its supply shortfall expected to widen as its population grows by more than a million a year, according to the International Energy Agency.

https://www.thenationalnews.com/business/energy/2023/10/16/iraq-and-uaes-crescent-petroleum-activate-deals-to-develop-oil-and-gasfields/

Baghdad fails to control the dollar, and Washington puts pressure on Iraq economically due to its support for Palestine, 18 OCT

 Baghdad fails to control the dollar, and Washington puts pressure on Iraq economically due to its support for Palestine, 18 OCT

Baghdad fails to control the dollar and Washington puts pressure on Iraq economically due to its support for PalestineA member of the Parliamentary Finance Committee, Mustafa Al-Karaawi, said today, Tuesday, that the government of Prime Minister Muhammad Shiaa Al-Sudani has failed miserably to control the dollar exchange rate despite the plans and reforms that were prepared and launched in the past.

Al-Karaawi confirmed, in an exclusive interview with Al-Mutala’ Agency, that “previous measures and meetings that took place between the government, the governor of the Central Bank, and the owners of government banks regarding controlling the price of the dollar and not trading it internally were of no benefit,” indicating that the government failed to impose its control over the dollar. The stability of the dollar against the Iraqi dinar.”

He added, “The Prime Minister met yesterday with the concerned authorities, to discuss the non-implementation of reform packages related to the price of the dollar,” calling on “Al-Sudani to take effective solutions like those issued by the Central Bank to control the dollar at border crossings and customs taxes.”

The member of the Finance Committee pointed out that there are American political influences that exert pressure on Iraq to put pressure on it economically, regarding its support for the Palestinian cause and advocacy for the people of Gaza against the Zionist occupation,” stressing that “Iraq seeks to address that issue and put pressure on the US Federal Bank to provide amounts in dollars and at a specific time.” .

He continued by saying, “Iraq’s position on the Palestinian issue is firm and will not change, and we reject all Zionist crimes committed by the occupation against the Palestinians, and this is an irrevocable decision.”

almutalee.com

THE BIG CALL HIGHLIGHTS, 18 OCT

 Tues. 17 Oct. 2023 Bruce, The Big Call The Big Call Universe (ibize.com)  667-770-1866, pin123456#

On Mon. 16 Oct. they did five calls throughout the day for the Redemption Centers.

Redemption Centers would  (allegedly) receive emails between 10-11 am EST on Wed. 18 to tell them about notifications.

There was a possibility Tier4b could get notified on Wed. 18 Oct. and start appointments on Thurs. 19 Oct.

The Shotgun Start for everyone could begin within 12 hours of each other.

Bond Holders still do not have access to their funds.

Appointments will last approximately 30 min. each.