DINAR REVALUATION

Sunday, December 24, 2023

Rise of the Dinar Iraq's Currency Set for a Surge in Value | HOT NEWS

Saturday, December 23, 2023

Iraq intends to achieve self-sufficiency in petroleum products during the second quarter of 2024, 24 DEC

Iraq intends to achieve self-sufficiency in petroleum products during the second quarter of 2024

Shafaq News/ Deputy Prime Minister for Energy Affairs and Minister of Oil, Hayan Abdul Ghani, confirmed on Saturday the ministry’s intention to reach self-sufficiency in petroleum products during the second quarter of 2024, after the completion of a number of important projects in the refinery sector.

This came during the opening of the project to complete the fourth refining unit with a capacity of (70) thousand barrels per day at the South Refineries Company in Basra Governorate.

Abdul Ghani said in a speech during the celebration that operating this unit will provide large quantities of petroleum products, including naphtha, gas oil, kerosene, liquid gas, and others to cover a large portion of the local need.

The Minister of Oil indicated that the project was among the priorities of the government program and was completed in a record period by the national effort after foreign companies hesitated.

For his part, Director General of the South Refineries Company, Hossam Hussein Wali, said in a speech during the ceremony that the company fulfilled its obligations to the government and the ministry by completing the project within the planned period, stressing that the production of this unit of petroleum products will cover a large part of the local need, especially gas oil and kerosene, indicating that The company contributes through projects to increase refining capacity to meet local needs and improve the quality of petroleum products.

Meanwhile, Oil Ministry spokesman Assem Jihad said that the opening of the fourth unit, with a capacity of 70 thousand barrels per day, will contribute to raising the total refining capacity of the South Refineries Company to 280 thousand barrels per day.

He explained that the first stage will witness the opening of the isomerization unit to improve the quality of products in the refinery, in addition to continuing to complete the (FFC) project, which is considered one of the most promising projects and represents a qualitative leap in upgrading petroleum products to (Euro 5).

shafaq.com

"RV UPDATE" BY MILITIAMAN, 24 DEC

Militia Man

What I've always said is it makes more sense for Iraq to have a managed float which is effectively a fixed exchange rate...1 to 1 or 2 to 1, 3 to 1, 4 to 1 whatever they decide to do it makes it easier the higher that exchange rate is to defend...Having a...3 years budget keeps it stable...pricing stays stable.

Anybody that says it's going to float to from a relatively low range to a high range over time they don't understand. Article quote: "The exchange rate will be fixed especially since it's been fixed in the federal budget law for 3 years says Saleh..." This is coming from the advisor. Don't talk about float. It just doesn't make sense to anybody.

Since November of last year they have been working to do what? Get rid of the parallel market. And how are they doing that? They're populating banks with many other currencies. They're doing all those things that are necessary to do what? Be article VIII compliant, to have a single currency, not a dual currency country. They're getting rid of multi-currency practices.

They're talking about reducing Iraq's dependence on oil. Dependence on oil is going to go away because they have non oil related products...services...and sectors . That's going to be from the taxes and tariffs at the borders, imports, exports, natural resources. They're going to have other than just oil. They're going to have other circumstances...They're talking about 350 million ton of sulfur...They're trying to achieve sustainability for the private sector..

Everybody knows Iraq is about to go International and they're going to have a digital transformation ...When they have this investment budget and they start spending...Iraq is going to be filthy rich with revenue streams from the electronic borders, agriculture, tourism... mining, sulfur, phosphates...they're going to have revenue like no other.

There isn't anything else like it, in my lifetime, that I can see is going to trump Iraq... Don't forget...Iraq has a massive amount of hydrogen for clean energy...nobody else is talking about it...The amount of money and revenue streams Iraq is going to have is almost incomprehensible...It really is intense on how much money these guys are going to make on a regular basis..

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-militiaman-21-dec.html

https://dinarevaluation.blogspot.com/2023/12/rv-update-by-militiaman-22-dec.html

Iraqi Dinar🔥Iraq's Currency Set For Surge In Value Today 2023🔥iraqi dina...

"ANALISIS OF IRAQ NEWS" BY MNT GOAT, 24 DEC

AL-SUDANI TO PLASSCHAERT: THE GOVERNMENT IS DETERMINED TO COMPLETE ALL CONSTITUTIONAL ENTITLEMENTS AND SUPPORT DECENTRALIZATION

The Prime Minister, Muhammad Shiaa Al-Sudani, received today, Thursday, the Special Representative of the Secretary-General of the United Nations in Iraq, Jeanine Plasschaert.

During the meeting, according to a statement from the Prime Minister’s Office, which {Al-Furat News} received, Plasschaert “congratulated, on behalf of the International Organization, the Prime Minister on his government’s success in holding provincial council elections, as a step that enhances stability and consolidates democratic rule.”

During the meeting, the Prime Minister affirmed “the government’s determination to complete all constitutional entitlements and support administrative decentralization,which was embodied in holding provincial council elections, within its obligations in the government program,” pointing to Iraq’s desire to continue cooperation with the international organization and develop all its working development programs. in the country”.

(All I can say again is “I told you so” lol,,lol,,lol,,lol,,, Are we waiting for the Oil and Gas law. Makes total sense to me. The fact that they could not get agreements in place in time and the law passed could be a reason why January target was stalled. Just saying….)

https://mntgoatnewsusa.com/latest-mnt-goat-newsletter/

Parliamentary answer: Will the decision to reduce oil production affect dollar prices in Iraq?, 24 DEC

Parliamentary answer: Will the decision to reduce oil production affect dollar prices in Iraq?

Information/private..
Today, Saturday, a member of the House of Representatives, Intisar Al-Jazairi, explained the extent of the impact of Iraq’s reduction in oil production on the dollar exchange rates in local markets, while she considered the government’s policy to have “a great influence” on the exchange rate.

Al-Jazairi said, in an interview with the Maalouma Agency, that “the economic policy followed by the Iraqi government has greatly affected the exchange rates of the dollar in local markets,” expecting “the continued decline of the dollar locally.”

She added, “The effect of the voluntary reduction in oil production depends on whether or not it exists with the exchange rate in Iraqi markets, especially since oil exports depend mainly on the dollar.”

The member of the House of Representatives explained, “The Iraqi government has taken a decision regarding reducing oil production until the first quarter of 2024, but it has not yet been implemented,” pointing out that “the dollar prices during the next year and the events that will take place in the world, alone will determine the position of the government and Parliament.” of the reduction decision.

Earlier, economic affairs specialist Muhammad Al-Saadi confirmed that Iraq faces a valuable opportunity to maximize oil revenues by exploiting the reduction in oil production and achieving an increase in prices.

The OPEC Plus oil organization had decided, earlier, to reduce the oil production of member states, including Iraq, after the significant decline witnessed by the global market, and to once again increase demand for black gold.

almaalomah.me