KRG delegation, oil and gas companies’ reps address resuming oil exports, 11 DEC

KRG delegation, oil and gas companies’ reps address resuming oil exports

ERBIL (Kurdistan 24) – A negotiating delegation of the Kurdistan Regional Government (KRG) consisting of a senior team of the Ministry of Natural Resources met with oil and gas production companies on Sunday in Erbil.

The meeting covered the most recent developments in the negotiations between Erbil and Baghdad regarding the oil laws and budget, as well as the actions taken by the KRG to protect the region’s constitutional rights and find a solution.

The meeting also expressed the Kurdistan Region’s desire to resume oil exports as soon as possible with the representatives of the companies, which requires finding a common understanding of all parties on the cost of production and transportation of oil.

Moreover, the meeting addressed the challenges faced by oil companies in the past few years, caused by a combination of global conflicts and the economic repercussions of the COVID-19 pandemic.

Finally, both sides decided to continue such joint meetings to find common solutions, resolve outstanding issues, and resume oil exports, set to play an important role in the economic recovery of the Kurdistan Region and Iraq.

The export of Kurdish oil through the Iraq-Türkiye Pipeline has been halted since March 25 after Iraq claimed victory against Türkiye at a Paris-based international court for allowing the KRG to independently export its oil.

Earlier on Dec. 5, the Association of the Petroleum Industry of Kurdistan (APIKUR) expressed its concern that Kurdish and Iraqi natural resource officials did not invite representatives from the organization to bilateral meetings.

APIKUR member companies complained they have “neither been included in these meetings nor been invited to participate in any future meetings between the KRG and GOI [Government of Iraq].”The meeting of the negotiating delegation of the KRG and oil and gas production companies, Dec. 10, 2023. (Photo: KRG)The meeting of the negotiating delegation of the KRG and oil and gas production companies, Dec. 10, 2023. (Photo: KRG)

kurdistan24.net

"RV UPDATE" BY MARKZ, 11 DEC

 MarkZ 

  [via PDK]  ...I am hearing the push is to be well underway by [January].  I’m hearing they still want money moving by Christmas.  But nobody knows the timing…

 I have one real positive banking story. A banker who was working at one of the large banks that is planning on being part of all of this…they work in wealth management...he figured out the RV was real and started buying currency. He switched jobs because of pressure and went to work at another bank in a lower level of wealth management …

Well they told him they were preparing now for all of this…The RV and revaluations. This is another real world report from a member of our community telling us the banks are ready and this is real. This is very exciting to me...Upper level and mid level bankers are now being informed.  I know of 5 stories like this just this month on people we personally know getting a “heads up” from bankers.

 ...a little ad...has been rolling all over Iraqi television lately. Talking about the dinar and how great it is. They are running ads talking about the future of the dinar...

Iraqi Dinar🔥Unveiling New Exchange Rates Expected $3.22 By CBI🔥iraqi din...

Oil Continues Gains as U.S. Seeks to Buy Strategic Reserves, 11 DEC

 Oil Continues Gains as U.S. Seeks to Buy Strategic Reserves, 11 DEC

Economy News _ Baghdad

Oil prices rose in early trading on Monday, continuing their gains for the second session as the U.S. seeks to revive its strategic reserves, providing some support, despite continued concerns about a glut of crude and weak fuel demand growth next year.

By 01:19 GMT, Brent crude futures rose 11 cents or 0.2 percent to $75.95 a barrel, and WTI crude futures increased seven cents or 0.1 percent to $71.30 a barrel.

The two crudes jumped more than 2 percent in Friday’s contract settlement, but fell for a seventh straight week, the longest weekly decline since 2018 as concerns continued over oversupply.

Despite the Organization of the Petroleum Exporting Countries (OPEC) and its allies, or the group known as OPEC+, to cut production by 2.2 million barrels per day (bpd) in the first quarter, investors remain skeptical that supplies will fall as production growth in non-OPEC countries is expected to lead to a supply glut.

This week, investors are squeaming interest rate indices from meetings of five central banks, including the U.S. central bank, and U.S. inflation data to see their impact on the global economy and oil demand growth.

https://economy-news.net/content.php?id=38361

"RV UPDATE" BY WOLVERINE & SANDY INGRAM, 11 DEC

 Wolverine

   ...The big meeting in Dubai is finished now – everything is ready. Iraq is ready. They should be ready to celebrate. Then so should we.  My Whale said it all looks good, everything is moving. By Mon. 11 Dec. they will be celebrating in Iraq and it is my opinion that so should we.”

Sandy Ingram 

 [We] tried to ignore this news however, that is not possible Article:  "Iraqi PM places security forces under investigation over US embassy attack"  Iraq is doing what they can, but have not been able to stop the attacks against American Forces in Iraq.  Article: "Iran-backed militia vows more attacks after US Embassy in Iraq comes under fire"  When you attack the embassy of another country, this is far more serious.

The Central Bank of Iraq confirmed some Iraqi banks are transferring dollars from their accounts to intermediary banks who are distributing the dollars to their customers.  The Central Bank of Iraq said this will contribute to reducing the exchange rate of the parallel dollar...[We're] thinking this is to keep the black market intact. This means the decision to only use Iraqi dinar in all transactions beginning January 1, 2024 may cause concerns and the Central Bank of Iraq is making moves to control any possible issues.

Article:  "Inflation rate in Iraq declines in 2023 compared to 2022" 

 The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022.  Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022.  Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...

Wealthy Iraqis move to the Caribbean.  Guess who's on the list?  ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch

individual involved in corruption....  The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical.  Citizens can travel to 144 countries without a visa..

 The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution.  He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023.. .

There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.

   The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless.   It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange.  Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.

 The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless.  It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange.  Most of these reserves are held in US dollars since it is the most traded currency in the world...

The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...

Article:   " Good News for Investors:  US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"  

 Vietnam was not included on the US Treasury Department currency manipulators list this time.   The list comes out twice a year and includes countries that may have surpassed the value of their currency.  When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...

  On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-sandy-ingram-25-nov.html

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-sandy-ingram-30-nov.html

-------

Article:  "Inflation rate in Iraq declines in 2023 compared to 2022" 

 The Central Bank of Iraq announced the inflation rate decreased in 2023 compared to 2022.  Inflation in Iraq reached approximately 3.7% in August 2023, compared to 4.4% in August 2022.  Iraq's inflation rate is good compared to many countries where inflation has reached 30% and 40%...

Wealthy Iraqis move to the Caribbean.  Guess who's on the list?  ...The leader of the Kurdistan region and the former governor of the Central Bank of Iraq and other businessmen suspected of corruption...Iraq's politician are monitored by the organized Crime and Corruption Report Project (OCCRP)...This is part of the effort to catch

individual involved in corruption....The project reported the purchase of Dominica (tiny Caribbean island) citizenship...enabling them to travel worldwide without a Visa...This country's visa is magical.  Citizens can travel to 144 countries without a visa..

 The country has no tax on foreign income, capital gains, inheritance, stock profits, wealth or gifts...The former Governor of the Central Bank of Iraq, Mustafa Ghaleb Makhif, obtained Dominica citizenship in 2017 along with his wife and two children and did not renounce it upon his appointment as governor of the CBI which was clear violation of article 18 paragraph 4 of the Iraqi Constitution.  He held the position of governor of the Central Bank of Iraq from September 2020 until his removal by the current prime minister on January 23, 2023...

There are corruption questions...a legal complaint... has been filed due to the loss and depletion of millions of dollars regarding forged import documents.

  The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless.   It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange.  Most of these reserves are held in US dollars since it is the most traded currency in the world...The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history.

 The reason countries have foreign reserves is to make sure that a country has backup funds if its national currency rapidly devalues or becomes entirely worthless.  It's common practice for central banks of different countries around the world to hold large amounts of reserves of foreign exchange.  Most of these reserves are held in US dollars since it is the most traded currency in the world...

The amount of monies a country holds in its reserves has a lot to do with the county's currency rate...Iraq has the largest foreign currency reserves in its' history...

Article:   "Good News for Investors:  US Treasury Continues to Omit Vietnam Currency Off Currency Manipulator's List"  

 Vietnam was not included on the US Treasury Department currency manipulators list this time.   The list comes out twice a year and includes countries that may have surpassed the value of their currency.  When a country does this it cheats investors on potential profits...Iraq is rebuilding after the war so is not yet subject to currency manipulation lists...

  On Wednesday the Prime Minister of Iraq's advisor took the lead from the Central Bank of Iraq and announced Iraq has the largest foreign currency reserves in its' history and that the exchange rate treatment package aims to prevent profiteering at the expense of the economy...

https://dinarevaluation.blogspot.com/2023/11/rv-update-by-sandy-ingram-25-nov.html

The Future Of Oil Is In Danger.. Final Hours To Announce A New Global Agreement On Climate, 11 DEC

 The Future Of Oil Is In Danger.. Final Hours To Announce A New Global Agreement On Climate

Economy  2023-12-11   1,581 views  Alsumaria News - International An  unprecedented dynamic to abandon fossil fuels clearly dominates the 28th session of the United Nations Climate Conference held in Dubai, amid opposition from Saudi Arabia and most OPEC countries, in addition to the ambiguity surrounding the terms of the possible settlement 24 hours before the end of the conference.

It is expected that a new draft of the conference’s final agreement will be revealed on Monday morning, the penultimate day before the conference’s conclusion.

This new text will launch an intense series of negotiations that may be followed by one or more nights during which delegates and observers will have no time to sleep. During 28 years, climate conferences rarely ended on time, according to [url=https://www.alsumaria.tv/Entity/123351/%D8%A3 %D9%81 %D8%A8/ar/]AFP[.

However, the designated president of COP28, the Emirati Sultan Al Jaber, who also serves as president of the giant oil company ADNOC, promised a “historic” agreement on December 12, the anniversary of the announcement of the Paris Agreement.

The agreement concluded in 2015 stipulates limiting global warming to less than two degrees Celsius compared to the temperature that was recorded in the world during the period that preceded the industrial revolution, and if possible to within 1.5 degrees Celsius.

“Everyone has to be flexible,” Al Jaber said on Sunday, adding, “We have to move forward much faster.”

The new text expected on Monday, which will likely include options or formulas in parentheses, will test Al-Jaber’s ability to reach a compromise in the final hours.

So far, delegates and ministers have made little progress despite arduous negotiations and the most secret bilateral meetings in Expo City Dubai, the venue of the conference.  LINK

Will Dinar Reinstate Back to $3.22?💣Dong = $.47?🤔Iraq Dinar RV Updates |...