Iraq aims for self-sufficiency in oil derivatives by mid-2024: Minister,23 DEC

Iraq aims for self-sufficiency in oil derivatives by mid-2024: Minister

Shafaq News/ Oil Minister Haiyan Abdul-Ghani on Saturday said that Iraq seeks to achieve self-sufficiency in oil derivatives by the second quarter of 2024.

The minister made those remarks at the inauguration ceremony of the fourth distillation unit at the Southern Refineries Company in Basra.

The unit has a capacity of 70,000 barrels per day.

"This unit shall provide large quantities of oil derivatives, including naphtha, gas oil, kerosene, liquefied petroleum gas, and others, to cover a large part of the local demand," Abdul-Ghani said in a speech.

He added that the project is a priority of the government's program and was completed in a record time by domestic efforts after the failure of foreign companies. 

For his part, the director general of the Southern Refineries Company, Hussam Hussein Wali, said in a speech that the company had honored its commitments to the government and the ministry by completing the project within the planned period.

He explained that the company seeks to contribute to both achieving self-sufficiency and improving the quality of oil products offered to the country. 

The spokesperson for the Ministry of Oil, Asim Jihad, said that the inauguration of the fourth unit with a capacity of 70,000 barrels per day will contribute to increasing the total refining capacity of the Southern Refineries Company to 280,000 barrels per day.

He added that the next phase will witness the establishment of a polymerization unit to improve the quality of products at the refinery, in addition to the FFC project, which is a promising plan to upgrade oil products to Euro 5 standards.

https://shafaq.com/en/Economy/Iraq-aims-for-self-sufficiency-in-oil-derivatives-by-mid-2024-Minister

"BANK STORIES" BY FRANK26, 23 DEC

  Frank26 

  [Bank Story]  

BANK STORY WOMAN:  I just spoke to a representative of the company for whom I purchased my currency.  I asked, when the reinstatement occurs what happens from your end?  She said when the revaluation occurs...we will be notified by the United States Treasury.  We will then notify all of our customers.

   FRANK:  I find that interesting, so this bank is saying they have the addresses and phone numbers of the people they sold dinars to.  Like I told you, they're going to come after you.  They want you badly.  

BANK STORY WOMAN:  I was struck by the fact that she spoke of the RI as a matter of fact which will occur.  She did not deny it.

  FRANK:  Like I've been saying to you sister, it's not a secret.

https://dinarevaluation.blogspot.com/2023/12/bank-story-by-frank26.html

[Franklin Tennessee Bank Story continued

BANK STORY MAN:  There's a Chase right own the road where I live and I though let me go verify  [The information from my other Chase bank story below 12-19-2023] ...I walk in and there were two young girls.  The branch manager was tied up in a meeting...I said I'm curious whether you do foreign exchange.  She said yes we do, which currency?  I said Iraqi dinar.  She had the funniest look on her face.  She said, yes I believe we can.  The girl next to her said, no we cannot. 

]The girl I was talking to pointed at the screen and the other girl looked down...and went,  oh, yes we will but we don't have the ability to talk to you about it now.  

FRANK:  Boom!  Mums the word. 

 BANK STORY MAN:  I said I understand...I said is it true about the $5,000 increments [That they can only exchange $5,000 worth at a time]?  She said, it is true.  She said, but listen to me sir, we want your business.  If you sit here all day doing $5,000 increments we don't care

https://dinarevaluation.blogspot.com/2023/12/franklin-tennessee-bank-story-by_01635722416.html

Central Bank of Iraq - Exchange Rate - Stability - An International Welc...

Weekend News with MarkZ. 12/23/2023

"CLARIFYING FRANKLIN BANK STORY" BY FRANK26, 23 DEC

  Frank26 

 [Clarifying Franklin Bank Story] 

The individual said, can I exchange my currency at your bank?  Oh, the dinar, yes we will be able to take care of you.  Open accounts.  Deposit your money in our accounts but you can only take out $5,000 per day in cash.  If you want $10, $20, $30, $50,000 in cash we can arrange it but we'll have to order it for you...

 [He's saying this bank's daily physical cash exchange policy is/will be $5,000 USD cash per day but you can prearrange for more if you'd like.]

"RV UPDATE" BY BRUCE, 23 DEC

 Bruce 

  [via WiserNow]   ...we were told a couple of weeks ago that we are expecting to receive this RV - our blessing - before Christmas and as far as we know, that is still the plan...I will tell you why...there was a conference call...[Thursday] morning...I believe it was with Treasury and with the leaders of the redemption centers. We have over 7000 redemption centers in the US...the outcome of the call was this -  there was a 98% chance of us going in before Christmas...Another source when I asked ...Could we be exchanging before Christmas? He did say yes.  I believe it is definitely possible.

  The best rates are available only at bonafide redemption centers in the United States for United States citizens.  Highest rates are on redemption center screens NOT on the bank screens...I think we're ready for the most part.

 They want this blessing to go...to come to us before Christmas this year...2023 Christmas.  That's the goal. That's the plan...I believe we still will get this done this week... everything is set to go.  Redemption centers are fully trained and ready...lets look forward to the  next couple of days

The election results will witness changes after the special vote is counted, 23 DEC

 The election results will witness changes after the special vote is counted

The election results will witness changes after the special vote is countedThe First Deputy Chairman of the Parliamentary Security and Defense Committee, Karim Abu Souda, stated today, Thursday, the possibility of a change in the results of the local elections after the special vote is decided, and while he called on the political blocs to form the Baghdad Provincial Council with political consensus, he called on the new governors to provide services to citizens without regard to their affiliations. Sectarian and partisan.

Abu Souda stated during his talk on the program (Ana), broadcast by Al-Sumaria TV, that it is possible to see a change in the results of the elections, especially in Baghdad, after the complete counting and sorting of the special vote, 70% of which has not yet been counted, and the change may be in the number of numbers and not the seats, calling for Forming the Baghdad Governorate Council with political consensus to provide services to all regions.

He explained that the number of seats in Baghdad Governorate is 52, and the Shiite component has 29 seats, and they are able to choose the governor without referring to the Sunni component, adding, “But we do not believe this matter will enable them to distribute services well to all regions, and therefore everyone must be involved in the local government because it will lead to To achieve consensus between the provincial council and also to keep political conflicts away from this matter. The representative called on the new councils to serve the citizens because they will be subject to evaluation by Parliament, stressing the need not to return Iraq to square one with the issue of sectarianism and to provide services to all citizens without regard to their affiliations or sect because they were created to serve them, and also to provide the necessary supplies such as the health and educational sector in All districts in all governorates.

He pointed out that political conflicts lead to the disintegration of society, and we must deliver a message to everyone that we are under one tent, which is Iraq, and for this reason the governors will not be evaluated on the basis of their denominational and sectarian affiliations, but rather on performance, indicating that if the political blocs want good for Iraq and the interest of its people, they must let business go on normally. And to avoid supporting such-and-such party at the expense of the other, and to agree to choose conservative figures according to merit, and not to exclude seat-holders because it will lead to a disruption in services in the future.

He added that there is a reluctance to hold elections on the part of the Sunni component in Baghdad due to the explosive budgets that were spent during the past 20 years and the corruption that did not bring the capital to the level of the capitals of neighboring or even Asian countries. He called on the House of Representatives to tighten oversight of the performance of the councils so that the provinces appear better. Decent and correct.

He stated that the current government is the best one to work on the real fight against corruption, even if it was weak, but it outperformed its predecessor, and reducing the members of the provincial councils is a major achievement that is credited to the House of Representatives, explaining that what the provincial councils produced in the previous period with the events that took place in the country gave an image of the Iraqi citizen. This constitutional circle is not fit to work and is redundant, but the reality is that if these councils implement what is in the laws and the constitution, they will be the legitimate service and security government, and they also have a major role in setting security plans and drawing the road map in all districts and districts.

Abu Souda continued, “If a political consensus occurs between the blocs, Taqaddam will obtain the position of governor, and our legislative and oversight duty in Parliament is to monitor the performance of the governor, regardless of his affiliation, whether to Taqaddam or the framework, and whoever does not work to provide services, we will work to dismiss him in accordance with the constitutional context.”

burathanews.com