DINAR REVALUATION

Saturday, November 18, 2023

Kurdistan Petroleum Association Backs Talks to Restart Oil Production, 18 NOV

Kurdistan Petroleum Association Backs Talks to Restart Oil Production, 18 NOV

In a recent development, the Association of the Petroleum Industry of Kurdistan (APIKUR), an organization representing international oil companies operating in the region, has expressed support for the ongoing discussions between Iraqi and Kurdish officials. The discussions are aimed at restarting full oil production and exports from the Kurdistan Region. This comes after Turkey halted oil exports on March 25, following Iraq’s victory in an international arbitration court over unauthorized exports.

Restarting the Oil Production

On November 12-13, a meeting occurred between Iraq’s Ministry of Oil and Kurdistan Region officials. According to reports, the meeting concluded with a mutual understanding, although a final decision is pending further discussions in Baghdad. APIKUR, which was established in 2023 and accounts for about half of the Kurdistan Region’s oil production, was not part of this meeting. They have not received any official communication regarding the outcomes of the discussions.

Financial Implications and APIKUR’s Stance

APIKUR has been vocal about the financial impact of the halted exports. It estimates over $7 billion in lost revenue and over $1 million per day in penalties due to unmet obligations under the Iraq-Turkey Pipeline agreement. The association has emphasized the need for payment surety, direct remittance of prospective oil sales to member companies, and maintaining current commercial terms.

Future Prospects

International oil companies operating in the region will not resume oil production for pipeline exports until the overdue payments issue, estimated at nearly $1 billion, is resolved. Meanwhile, the Iraqi Oil Ministry has announced plans to reopen the 970-kilometer-long pipeline that transports Iraqi crude from Kirkuk to export facilities in Ceyhan on the Mediterranean coast. Closed in 2014 due to Daesh attacks, the strategic pipeline could potentially transfer crude oil from the Gulf to Europe, once rehabilitated.

Despite the challenges, APIKUR remains committed to resolving issues to resume full oil production and export, for the benefit of all stakeholders. The ongoing discussions between Iraqi and Kurdish officials signal a positive step towards this goal.

https://bnn.network/world/turkey/kurdistan-petroleum-association-backs-talks-to-restart-oil-production/

Integrity: Recovery of 15 billion dinars from the former managing director of one of the electronic payment companies, 18 NOV

Integrity: Recovery of 15 billion dinars from the former managing director of one of the electronic payment companies

Baghdad Today - Baghdad

Today, Saturday (November 18, 2023), the Federal Integrity Commission announced the recovery of 15 billion dinars from the former managing director of an electronic payment company.

The authority stated in a statement received by "Baghdad Today", that "its investigative procedures in the criminal case of the accused sponsor, the former manager authorized in the case of tax evasion by the company by providing incomplete information, and hiding information related to its accounts for the period from (2010-2017) should have been clarified," indicating "his joint with employees of the General Tax Authority to cause damage to public money, represented by the Ministry of Finance, amounting to fifteen billion and one hundred and fifty-four million dinars."

She added that "the company has paid the amount of damage caused to public money as a result of the lack of tax accounting, confirming the transfer of an amount of (15,154,745,000) billion dinars to the account of the General Tax Authority - Department of Senior Taxpayers," pointing to "the continuation of the General Tax Authority to request a complaint against the accused and take legal action against him for non-payment of interest on the amount."

According to the statement, the authority pointed to "an individual lawsuit against the convicted defendant, the former director general of the General Tax Authority, for sending a letter to (5) banks indicating that the aforementioned company is tax accounted until the year 2019, In order to move the company's accounts in those banks, despite the failure to meet the necessary mechanism followed in tax accounting."

"The convicted defendant carried out these acts jointly with three of her employees who were convicted and sentenced by the Central Anti-Corruption Criminal Court," she said.

Weekend News with MarkZ. 11/18/2023

Weekend News with MarkZ

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

CBD Guru’s are on first…..Then Mark with the news about minute 45:00

Member: Happy weekend. Good morning everyone

MZ: The big news for those paying attention is “ Parliament convenes Special Session as alliance nominates three successor candidates to Al-Halibousi”

MZ: The overwhelming agreement is that Halibousi has been a major roadblock especially on the 3 paragraphs of the HCL…the Kurds and Baghdad. So they removed Al Halibousi who was wildly considered to be a roadblock and kept us from getting across the finish line with the HCL law.

MZ: From my sources I feel very confident that he was the roadblock. It is very encouraging that he was removed and is being replaced.

MZ: They continue to tell me they want this done by Dec. 1st. Let’s pray and hope this is accurate.

MZ: The group side and the bond side are pretty quiet since last night.

MZ: “Venezuela wants to become a full member of BRICS as soon as practicable-Foreign Minister” This would go a long way in freeing them from all the US shackles and sanctions…..This would also allow Venezuela to strengthen its currency…and its good for us…..…This movement is forcing a reset to commodities…It forces what we want as we watch this progress.

Member: When Venezuela is in Brics . Their country is liked a dragster waiting to do the Quarter mile.

MZ: “Egypt and India are exploring local currency settlements to strengthen economic ties” This is more de-dollarization and they would deal together with their local currencies with no US dollars……we are now seeing this over and over again.

Member: HI Mark, in the news: Morgan Stanley CEO says his firm is ready for 'Basel III endgame'

MZ: “Dutch Central Bank admits it has prepared for a new Gold Standard” If there is a financial crisis-the gold price will skyrocket and the official gold reserves can be used to underpin a new gold standard….. says the Dutch National Bank….

MZ: We know they have been preparing since the early 2000’s for a new gold standard. The fiat system is definitely on the ropes and it is inevitable they switch to gold. Don’t you love seeing confirmation on what we have been talking about for years? They are preparing for a new Gold Standard!!! Is everyone paying attention now?

MZ: Thank you Mark…..We hope and pray this is the weekend we are all waiting for. .

Member: thank you mods we appreciate you…Everyone stay safe and have a wonderful weekend.

“THE INFORMATION IN THIS PODCAST IS FOR GENERAL & EDUCATIONAL PURPOSES ONLY. NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.” PLEASE CONSIDER EVERYTHING DISCUSSED IS IN MARKZ’S OPINION ONLY

Odysee at: https://odysee.com/@theoriginalmarkz:e OR THE RUMBLE CHANNEL: https://rumble.com/user/theoriginalmarkz

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.

GUYS YOU CAN FIND ALOT OF INFO AT MARK'S WEBSITE: GO TO: https://theoriginalmarkz.com/home

MARKZ DAILY LINKS: https://theoriginalmarkz.com/home/

Mod: MarkZ "Back To Basics" Pre-Recorded Call" for Newbies 10-19-2022 ) https://www.youtube.com/watch?v=37oILmAlptM

THANK YOU ALL FOR JOINING. HAVE A BLESSED WEEKEND ! SEE YOU ALL MONDAY MORNING FOR COFFEE @ 10:00 AM EST ~ UNLESS BREAKING NEWS HAPPENS!

"RV UPDATE" BY MNT GOAT, 18 NOV

Mnt Goat

Wednesday intel call to my contact at the CBI: I was told there was a TV media output broadcast that told the citizens the official rate of the dinar would be over $1 in the coming days. They used the PM Al-Sudani in a speech like format to explain most of it...This is part of the education process. So, it did begin...I was told that the process of the revaluation is now in motion and they expect to begin issuing the newer lower denominations to the banks in exchange for the larger 3 zero notes...

when they do distribute the lower denominations to the public for circulation, they will start at the airports first...they are only going to use dinars exclusively as of January 1st, 2024 in Iraq. This is also why they needed and allowed to let the banks now hold other foreign currencies besides dollars.

.Iraq is just moving now to standard protocol in money exchanging. This is such fantastic news. As of January 2024 there will be no more program rate...There will be no more dollars taken by any merchant in Iraq...But what is the timing of the switchover, I asked? First let me say it is not going to be a sudden switchover all at once, as many of us anticipated.

I was told it would be more gradual and has already begun. So, there is no turning back...Based on this latest conversation with my CBI contact, it could be said that they might be planning to RV prior to January...I will tell you I have never received such good information before... \

The agreement arrangements with Abu Dhabi have ended and the Iraqi banks will deliver dirhams - the Central Bank, 18 nov

The agreement arrangements with Abu Dhabi have ended and the Iraqi banks will deliver dirhams - the Central Bank

The official news agency, quoting a source in the Central Bank, said that Iraq has completed the final arrangements related to the agreement with Abu Dhabi Bank, as part of the government’s efforts to control the exchange rate.

The source:

The Central Bank of Iraq finalizes the final arrangements for the agreement with the UAE’s First Abu Dhabi Bank.

It is hoped that the actual implementation of the enhancement operations for Iraqi bank accounts in the UAE dirham will begin next week.

The first phase of reinforcements will include five Iraqi private banks.

The number of banks is expected to double after evaluating the first phase of implementation, which may last for a few weeks. link

The Central Bank finalizes the arrangements for the agreement to strengthen five Iraqi banks with the UAE dirham, 18 nov

The Central Bank finalizes the arrangements for the agreement to strengthen five Iraqi banks with the UAE dirham

Today, Saturday, the Central Bank of Iraq completed the arrangements for the agreement to strengthen five Iraqi banks with the UAE dirham.

A banking source told the Iraqi News Agency (INA): “The Central Bank of Iraq has completed the final arrangements for the agreement with the UAE’s First Abu Dhabi Bank, and it is hoped that the actual implementation of the enhancement operations for Iraqi banks’ accounts in the UAE dirham will begin during the next week.”

The source added, "The first phase of the reinforcements will include five Iraqi private banks, and it is expected that the number of banks will double after evaluating the first phase of implementation, which may last for a few weeks." link