During monetary policy review, Reserve Bank of India (RBI) Governor Shaktikanta Das on February 8 proposed additional use cases for central bank digital currency (CBDC) pilot projects.
To make it attractive and increase the adoption of CBDC, Das said that the digital currency would be programmed to help cater to specific end uses and also make it usable in areas w
Iraq Pledges to Limit Oil Production to 4 Million BPD in Commitment to OPEC
In a move that underscores its commitment to the Organization of the Petroleum Exporting Countries (OPEC), Iraq, the cartel's second-largest producer, has pledged to limit its oil production to no more than four million barrels per day (bpd). The decision follows the implementation of a second voluntary cut in December, as announced by Oil Minister Hayyan AbdelGhani.
Iraq's Oil Production: A Balancing Act
As the world grapples with energy dynamics, Iraq finds itself walking a tightrope between adhering to OPEC decisions and meeting its economic needs. The country's current crude oil exports hover between 3.35 million and 3.4 million bpd, a figure that aligns with the new production cap.
The decision to limit production is not without its challenges. Iraq's economy is heavily reliant on oil revenues, which account for over 90% of the country's income. This makes striking a balance between OPEC commitments and economic stability a delicate task.
Resolving Disputes: The Road to Resuming Northern Oil Exports
The path to resuming oil exports from the Kurdistan region in northern Iraq is fraught with challenges. A dispute with international oil companies operating in the area has led to a halt in exports, which previously stood at around 450,000 bpd.
Talks are currently underway to resolve the impasse. The resumption of exports from the Kurdistan region hinges on the resolution of production-sharing contracts and negotiations with companies in the region. The shift from production-sharing contracts to a profit-sharing model is seen as a crucial step towards ending the deadlock.
A Test of Commitment: Iraq and OPEC
Iraq's commitment to OPEC decisions is being put to the test. The country's pledge to limit production to four million bpd is a significant step towards adhering to the OPEC+ agreement. This agreement, which involves several OPEC+ producers, aims to stabilize the global oil market.
The decision to implement a second voluntary cut in production is a clear indication of Iraq's dedication to the agreement. However, the true test lies in the country's ability to balance its commitment to OPEC with its economic needs.
In a world where energy dynamics are constantly shifting, Iraq's oil production decisions will have far-reaching implications. As the country navigates these complex waters, its commitment to OPEC and its ability to resolve disputes will be key factors in determining its future in the global oil market.
As of February 12, 2024, Iraq continues to stand by its commitment to OPEC decisions, with Oil Minister Hayyan AbdelGhani reaffirming the country's pledge to limit production to not more than four million barrels per day.
Key Points:
Iraq has committed to OPEC decisions and will limit its oil production to no more than 4 million bpd.
Current crude oil exports range between 3.35 million and 3.4 million bpd.
Talks are underway to resolve a dispute with international oil companies in Iraqi Kurdistan and resume northern oil exports.
Resumption of exports from the Kurdistan region is dependent on the resolution of production-sharing contracts.
Iraq's commitment to OPEC decisions is crucial for the stability of the global oil market.
We are ready to go according to all sources. All sources, and whales. This is the week we are waiting for. All agree on this good news. We should get notifications today. When the notifications come out, all you will hear is the Opera.
We received news from many foundations. Some bondholders, who are whales, have been paid and they all are under NDA. We heard last week that about three of these Whales started talking.
Unfortunately, their accounts were frozen after 30 years of waiting. Please be careful everyone. There are some bad people sending out legit looking forms, saying they got paid, and asking you if you got paid, but if you respond to them you will be breaking your NDA contract. If people ask you if you got paid just BLOCK them
Be careful!!! In my opinion, when you get your blessing, do NOT help people right away, as they will ask “Where did you get all that money?”
Just be quiet, and only discuss with your family members who know about this. Remember if people ask where you got the money, just say “Please don’t ask, just accept this gift.” Also, Mauricio had a meeting with people who said this will be a Golden week. People ask me if this IS the week, but I cannot tell you with absolutely certainty - it is too much pressure on me.
All people are messengers, even the Admiral is a messenger. The EBS system is ready to go. Hopefully we will get that after our blessing, as the EBS does come AFTER the blessing.
Also, get a trust, some say no need, it will be under the QFS, but the trust will always protect you. So as soon as you get the blessing, go a bank manager or a lawyer to get set up with a trust. You can contact me if you need help with a trust and I can refer you to those who can help you. Did anything happen after the super bowl?
Charlie Ward said nothing happened since you were watching the game. News was Israel bombed a safe place where they told Palestine people to go for shelter. Hopefully, these people will be caught. I think today will be a good day for good news. God Bless all of you.
Shafaq News / An official source revealed that Iraqi Prime Minister Mohammed Shia Al-Sudani canceled his scheduled visit to the UAE, on Monday.
The source told Shafaq News Agency that Prime Minister Mohammed Shia Al-Sudani canceled his visit to the United Arab Emirates to participate in the World Government Summit, without knowing the reasons for canceling the visit.
Iraq is moving towards going into a market economy...it's quite obvious...Tensions are the trade lines between Egypt and Jordan because of the Red Sea. There's been some chaos going on with different factions disrupting trade...Iraq's Development Road Project Article quote: "Iraq supports an alternative to the international transport lines that deliver good from the East to the West." Everything's coinciding at this time with the major international transport companies coming into play...
There's evidence the project to delete the zeros off the exchange rate is underway or is still on the table. It exists and that's because of who said it. We know Al-Alaq has said it and it's been referenced to one of his financial advisors...Saleh.
What I like about the Iraqi dinar...is there's progress and there's been progress... The bottom line is ever since Al-Sudani has taken the helm...things have progressed immensely.
Article quote: " The World Bank praises electronic payment systems in Iraq the best in the region."
So they're praising Iraq as being the best in the region... Article quote: "The infrastructure of the electronic payday system and software systems in Iraq is among the best systems in the region according to the Iraqi central bank"
