Baghdad (IraqiNews.com) – Crescent Petroleum plans to invest up to $1 billion in Iraq as part of a deal it struck with the Iraqi government in early 2023.
According to the CEO of Crescent Petroleum, Majid Jafar, the investments are in concession areas in the northeastern governorate of Diayla and the southern oil metropolis of Basra.
Crescent Petroleum has conducted an initial assessment of the gas reserves in the Kurdistan region of Iraq and has determined that these reserves are around 80 trillion cubic feet, according to Jafar’s statement cited by the Aliqtisad News.
Jafar explained that in addition to large quantities of crude oil, Crescent Petroleum’s goal is to create 750 million cubic feet of gas per day in Basra and Diyala.
“Although we may increase our initial investment by several times over the course of the 20-year contract, we still intend to invest close to $1 billion,” Crescent Petroleum’s official stated.
Crescent Petroleum and Iraq concluded a 20-year agreement in February 2023 to develop four oil and gas projects in Basra and Diyala.
Article: "Iraq agrees with the UAE to launch financial transfer and trade financing operations between the two countries"
Quote: "The Central Bank stated in a statement...that Central Bank Governor Ali Mohsen Al-Alaq met in Dubai with the Chairman of the First Abu Dhabi Bank Group, Hana Al Rostamani, indicating that during the meeting it was agreed to launch financial transfer operations between the two countries and finance trade and imports between them. Iraq and the United Arab Emirates in the UAE dirham currency through First Abu Dhabi Bank "
Article: "Samsung: Iraq represents the most prominent market in the Middle East"
Sandy Ingram
Article: "CIA warns Baghdad of serious consequences if attacks against US personnel continue"Since October 17th the US presence in Syria and Iraq has been under constant threat.
Prime Minister Mohammed Shiaa Al-Sudani said on Thursday that: “Economic reform is its gateway to financial and banking reform,” while noting that “the government is committed to providing the dollar at the official price, and stressed its keenness to end the suffering of Kurdistan employees due to their salary delays,” Al-Sudani said in a televised interview followed by “informed” that: “Conducting the population census is the first steps to implement Article 140 of the Constitution was postponed to 2024 after it was scheduled to be held this year because of the provincial council elections,” pointing out that “it is time to raise the outstanding problems between Baghdad and Erbil, which lies at the border and budget ports.”
He added, “We went to borrow from the Ministry of Finance to pay the salaries of the employees of the Kurdistan region and we are with finding a solution with a legal amendment that considers the employees of the Kurdistan region like the rest of Iraq’s employees,” stressing that “the government is keen to end the suffering of the crisis of the salaries of Kurdistan employees.” On the other hand, “economic reform is its gateway to financial and banking reform and the issue of the exchange rate requires this reform and we are committed to providing the dollar at the official rate to traders, investors, contractors, students and travelers.”
He pointed out that “95 percent of our trade now passes through the electronic platform and there are those who circumvent the law and buy the dollar at the parallel price because he does not want to implement legal procedures.” “We will not accept that the official dollar rate is equal to the parallel rate because it encourages smuggling,” he stressed. On foreign trade, Al-Sudani said: “There is no problem for the Iranian side in dealing with trade with Iraq in dinars or toman.” “The problem of commercial transfers to Turkey has been solved by opening accounts in Turkish lira,” he continued. He stressed that “food prices have remained stable, despite the attempt of manipulators to speculate on the price of the dollar.”
Why only [spend] 20% [of their budget] in 11 months? IOO they're waiting for a new exchange rate. They're going to use their currency...pressure will be reduced on the citizens by adding value to their currency...Stop using the dollar on January 1, 2024 because the monetary reform education is the key and we're telling you what we are doing. IMO they are telling them all so they will understand where the monetary reform process is at at this moment.
Why only [spend] 20% [of their budget] in 11 months? IOO they're waiting for a new exchange rate. They're going to use their currency ...pressure will be reduced on the citizens by adding value to their currency...
Stop using the dollar on January 1, 2024 because the monetary reform education is the key and we're telling you what we are doing. IMO they are telling them all so they will understand where the monetary reform process is at at this moment.
The 1st of January is when no other currency will be used by Iraqi citizens inside the country except their own currency. Don't you think that's a clue! They are pretty much telling you without telling you. Can you pick up on this intent? You don't have to be a detective to pick up on a clue like this!
REVEALING A DEEP DISAGREEMENT BETWEEN BAGHDAD AND WASHINGTON OVER THE AMERICAN PRESENCE IN IRAQ – URGENT
The past weeks have witnessed a long series of attacks on positions occupied by American soldiers in Iraq. Iraqi factions also targeted the American embassy building in Baghdad, and fired missiles towards the Americans in Syria
It was noteworthy that US Secretary of State Anthony Blinken made repeated contacts with Iraqi Prime Minister Muhammad Shia al-Sudani, and visited Baghdad once, and US statements always indicated the need to protect American soldiers and diplomats, and considered this the responsibility of the Iraqi government “because it is the host government”.
Serious Disagreement
US Secretary of Defense Lloyd Austin called the Sudanese at least once, and the Pentagon statement at the time repeated what the State Department had said, including thanking the Sudanese government because it considered the attacks a “terrorist act .”
However, upon verifying the content of the communications between the American ministers and the Prime Minister of Iraq, it became clear, according to Al-Arabiya and Al-Hadath sources, that there is a deep disagreement between the two parties .
Sources in Washington confirmed to Al-Arabiya and Al-Hadath that the Iraqi government’s words denouncing the attacks were limited to the headquarters of the American embassy, and did not include attacks on American soldiers. Ministers Blinken and Austin expressed in their communications their commitment to the Iraqi commitment and condemnation of the attacks on American soldiers .
There are not many details about the outcome of the claim, but it seems that it has not reached a conclusion .
” The American raid is an assault “
Iraqi Prime Minister Muhammad Shiaa al-Sudani expressed his categorical rejection of the American raid in response to the attacks launched by the Iraqi factions, and in his conversations with American officials, he considered that the United States had “blatantly” violated Iraqi sovereignty when the American forces took the initiative and bombed the positions of one of the Iraqi factions and killed a number of members, hours after an attack on American soldiers .
(These are Iranian militia targeting US soldiers in order to force the GOP to force the withdrawal of American soldiers. Iran does not like the US presence and what will happen AGAIN once they are gone, if they pull out. Remember 2004 and ISIS? )
The Americans repeated during their contacts that this was the right of reply, and they insisted on doing the same in the future .
Sources for “Al-Arabiya” and “Al-Hadath” said that this dispute prompted the two parties to begin seriously discussing a timetable for the withdrawal of American forces from Iraqi territory .
Disagreements Accumulate
These sources did not confirm that Iraq was the one who initiated the request, but it is clear that talk of the Americans’ withdrawal occurred more than once .
Previous information stated that US Secretary of State Anthony Blinken indicated in talks with the Iraqi Prime Minister that repeating the attacks would mean the withdrawal of the Americans and the rest of the coalition forces from Iraq because the matter is unacceptable, and this time it appears that the Iraqis were the ones who raised the issue of withdrawal due to the US raid on the site. The Iraqi Hezbollah Brigades on November 21 .
The impasse begins with the fact that the Iraqi government considers it difficult to oppose attacks on American forces. Many Iraqis view the American forces as “occupying” forces and cannot be defended, just as they are obligated to protect American diplomats on the territory of the host country .
They are no longer consultants
The Iraqis also consider that after the bombing, the presence of American forces in Iraq is no longer advisory and auxiliary, as was agreed upon with the Joe Biden administration at the end of 2021, and the new mission for the Americans began in the year 2022 .
The Americans consider Iraq to be a strategic interest for them and do not want to withdraw from it. This was confirmed by US government spokesmen two weeks ago when they were asked about the situation in Iraq .
The Americans also say that their mission in Iraq is still necessary to confront ISIS and ensure that the terrorist organization does not return to any previous activity, and they do not disclose that their presence in Iraq helps them achieve other goals, such as balancing the rising Iranian influence on Iraqi territory .
Exit by mutual consent
The Iraqis, for their part, at least the Prime Minister’s government did not want the Americans to leave, and now they do not want a chaotic exit or in a turbulent atmosphere.
When the American forces left at the end of 2011, the Iraqi government was keen for things to appear to be in agreement between the two parties, and the two parties showed clear concern for some details such as the handover and delivery programs .
One of the oddities of the relations between the two countries is that Joe Biden, the current President of the United States, visited Iraq at the time and was the US Vice President at the time, and Lloyd Austin was the commander of the US forces in Iraq when they lowered the flag and left, and he is now the US Secretary of Defense .
The Iraqis assert that they do not want to replace the American presence with any other presence or influence, alluding to the Iranian military and political presence, but the current government will find it necessary to balance the various Iraqi movements. So far, there is no opposition to the American exit, but the Kurdistan Regional Government and some Iraqi Sunni movements may find The Americans’ departure created a vacuum that they had not hoped for, while other movements, such as the Sadrist movement and the Iraqi factions loyal to Iran, called for the departure of American forces and considered them “occupation forces.”