Iraq is dedicated to adhering to the Organization of the Petroleum Exporting Countries’ (OPEC) decisions about production levels, according to remarks made on Monday by the country’s oil minister, Hayan Abdul-Ghani.
Abdul-Ghani stressed that Iraq is also committed to keeping its output to a maximum of four million barrels per day, having announced its second voluntary cut in December.
According to the oil minister of Iraq, the country currently exports 3.35 to 3.4 million barrels of oil per day.
Abdul-Ghani said that talks with international oil companies operating in Iraqi Kurdistan to resolve a dispute that has halted the country’s oil exports had progressed.
The Iraqi official went on to say that talks with businesses that operate in northern Iraq are getting near to a resolution shortly and that the revival of oil production from fields in the Kurdistan area of Iraq is connected to the commencement of oil exports from Iraq.
Following a ruling by the International Chamber of Commerce (ICC) in an arbitration case, Turkey ceased exporting 450,000 barrels of oil per day from northern Iraq in March 2023. Ankara was ordered to compensate Baghdad for the harm caused by unauthorized exports between 2014 and 2018.
A Goldilocks Economy represents an idea whose time has come. We are currently adjusting Payment Systems and Global Economies seeking out price patterns that will allow us to move into the future with systematic digital protocols that will align our Global Economy with numbers we can grow from going forward.
Just like the story of Goldilocks and the Three Bears, we are looking for value adjustments that are "just right." Our entire Financial System around the Globe is just simply looking for a home. As we journey through this transition, the place we live will be determined by real values and real numbers paved with streets of gold.
Kuwait’s Agility gets new opportunity to arbitrate against Iraq
Regarding its operations in Iraq, the Kuwaiti logistics business was given another chance to present its case before an arbitration panel under the International Center for Settlement of Investment Disputes (ICSID).
Agility filed a case in 2021 at the ICSID of the World Bank Group, claiming it lost more than $380 million in Iraq. However, the arbitration tribunal denied the claim.
In addition, Agility, one of the biggest logistics firms in the Gulf, was mandated by the arbitration tribunal to reimburse Iraq for almost $5 million in case-related expenses.
Agility said in a statement issued on Sunday that an ICSID committee had accepted its appeal and that, as a result, the earlier arbitration panel’s ruling had been partially revoked.
The Kuwaiti company also stated that the committee declared the 2021 ruling to be partially revoked. Agility will now be entitled to present its arguments to the arbitration tribunal once more thanks to this ruling.
The case began in 2017 when the company filed a request with the ICSID, claiming that Iraq had breached a bilateral agreement reached in 2015 between Kuwait and Iraq about the flow of investment and capital between the two nations and had indirectly confiscated its investments, which were worth over $380 million.
At the time, Agility stated that Iraq had denied it and its affiliates the right to appeal a 2014 ruling by the Communications and Media Commission (CMC) of Iraq that had terminated Agility’s ownership of Korek Telecom, an Erbil-based Kurdish mobile phone operator.
BANK VISITOR: Today I get a call from the wealth manager at the Fort Worth location I go to all the time. I talked to her about a year ago about...the dinar and dong...The first thing out of her mouth was about the foreign currency. I said, ok, have you heard anything? She said, no but there's been rumblings, I'm going to get with my higher ups. I thought it was really funny the first thing out of her mouth was the foreign currency.
FRANK: Because she's heard something. She's not going to admit it to you.
BANK VISITOR: ...I said, do me a favor and find out what's going on if you can...She said I've got your number I'll give you a call...I got the feeling from this lady they've got some competition going on even within the banks themselves [for client business].
MarkZ Disclaimer: Please consider everything on this call as my opinion. People who take notes do not catch everything and its best to watch the video so that you get everything in context. Be sure to consult a professional for any financial decisions
Special guest host is Zester-Mark’s Son : Mark is on vacation until Wed. AM Feb. 14th
Member: Hi Zester !!! Hi Mods!!! Thank you for all you do
Zesster: This morning we will be going through the news of the day (boring news day so far) after which we will have a discussion about the difference between hardware wallets and hot wallets when it comes to keeping your crypto safe
Member: excited to learn about this crypto wallet stuff…… I am a novice
Member: I am really in need of information about XLM and Lobster wallet?
Member: Good Monday Morning to Zester, Mods and fellow RV’ers!
Member: Just waiting on the “go” so we can exchange and get on with life.
Zester: That is what we all want.
Zester: It has been a boring morning for RV news….Mr. C did check in this morning and has not yet been paid. I will be digging today and will hopefully have news by tonight,
Zester: Pops is hoping to have some things confirmed by this evening
Member: MM had the greatest banking story I’ve heard yet! If true we will be celebrating any min, hour, within days?
Member: I listened to Militiaman yesterday as I understood she did not exchange but was told it’s coming
Zester: I have not seen that yet…..if someone could send it to me….
Member: I just wanted to add that the lady on the phone with MM did NOT, exchange, but it’s set up and ready for it. they showed her the rate, they verified the currency.
There was a great bank story from the Simply Linn podcast where someone saw a rate of $2.40 on the bank screen….about a week ago.
Member: the simply linn podcast bank story was later updated, the bank teller had been looking at the Kuwait dinar rate. The correct one is the militia man recently on Saturday
Member: My WF manager tells me this chatter is real….but my Chase person says it is not real…lol
Zester we are constantly being thrown different information. They may be intentionally putting out mis information to confuse us. We know they have done this in the past. Put out false information to throw us off.
Member: Lots of good rumors and bank stories lately……we really must be close.
Member: Keep seeing it all happens in the next 72 hrs amd that was 48 hrs ago.
Member: Thanks Zester for filling in for “pops” You are an exceptional young man…..thanks for your crypto information….
Zester talks about Crypto Currencies and wallet today. Please listen to the replay for all this information and opinions
THE INFO IN THIS PODCAST IS FOR GENERAL INFORMATION & EDUCATIONAL PURPOSES ONLY NOT INTENDED TO PROVIDE ANY PROFESSIONAL & LEGAL ADVICE.”PLEASE CONSIDER EVERYTHING DISCUSSED IN THE GROUP OPINION ONLY
