[via WiserNow] ...a lot of the sources are very quiet...Typically, that means they're under new NDA’s. ...we know that we know that Iraq is doing some things in the US...I think they're really getting ready for this – to be known internationally - their reason for this session, my way of thinking the rate on the dinar has not been put out internationally yet for everyone to know what that is - but we know that rates are on the screens – all of them - They've been trading upwards, we know that the contract rate on the dinar is still very high and we know that the dong rate is also moving up in a good direction...
Tues. 16 April Bruce
Bond Holders were expecting their emails to exchange tomorrow
Wed. 17 April or Thurs. 18 April. Tier4b (us, the Internet Group) should go around the same time.
Yesterday a lower Tier Bank told us that they expected liquidity Wed. 17 April or Thurs. 18 April. The Iraqi Dinar rate has not yet been made public, but the Dinar is on the back screens of the Forex and trading upward with a Contract Rate that is very high.
The Dong Rate is also trading upward in a good direction. Zim is trading over $1, but as you know the US will be at a 1:1 on par with them and all currencies….
Shafaq News – Iraqi Prime Minister Mohammed Shia Al-Sudani on Thursday dismissed energy projects to be implemented in the country, while noting that his government had pursued a new thought in exploiting wealth.
This came during the prime minister’s meeting with major American companies specialized in the field of oil and gas, at a round table held by the Arab-American bilateral chamber of commerce in Houston, Texas, as part of his official visit to the United States, according to a statement to Shafaq News.
The Sudanese reviewed the government’s program and its objectives towards optimal investment for oil and gas, and its future vision, and touched on the most prominent strategic projects being implemented in Iraq, as well as investment opportunities for specific projects, and the promotion of the fifth supplementary and sixth round, which includes 30 oil and gas fields and a gas exploration pater in Anbar, Nineveh, Diwaniya, Najaf and Muthanna.
The Iraqi Prime Minister announced the extension of the application for the annex to the fifth round and the sixth round for two weeks; to give the opportunity to companies wishing to apply, stressing that “Iraq is witnessing a stable security situation throughout it.”
Al-Sudani called on American companies to engage in partnerships with the Iraqi private sector, which receives the attention and support of the government, pointing to the comprehensive development that Iraq is witnessing in all sectors.
He continued: “We came up with a vision of the form of the relationship with the United States, after the understandings and the meeting of President Biden, to be based on partnership and openness in all fields. Our vision is based on mutual interests, and you will be strongly present through joint work, especially the presence of companies and investment in opportunities in Iraq.”
He pointed out that “Iraq is of great importance in the energy market in terms of production and reserves, and the difficult conditions and previous challenges prevented it from reaching the optimal investment stage of wealth.”
“We have recently approached self-sufficiency in the oil derivatives we have been importing during previous years,” he added, adding: “Our government began with a new thinking about exploiting wealth, by increasing productive capacity and investing associated gas, and going to the manufacturing industries in petrochemicals and fertilizers.”
Al-Sudani stressed that he developed a plan to convert 40% of Iraq’s exports into oil derivatives,” pointing out that “importing gas costs the government $4 billion annually, while the burning is equivalent to 1300 million standard cubic feet, with the negative effects it leaves on the environment.”
He pointed out that his government is working on “implementing a solar power plant with an amount of 1000 MW, in addition to the project of injecting wells with water,” noting that “the fifth round has projects implemented by the Emirati (Al Hilal) and a Chinese company, in addition to the national effort, and it is planned to reach 2400 million standard cubic feet during this specified period.
Al-Sudani added: “We are presenting specific projects, including the annex projects of the fifth and sixth rounds, and we will extend the period to 15 days to provide the opportunity to apply for the tours,” noting that “the sixth round includes patches and fields rich in free natural gas.”
The Iraqi Prime Minister said that his government is introducing (integrated projects), including oil extraction, the investment of associated gas, and the establishment of a power plant, a refinery and petrochemical industries, explaining that “the opportunities for integrated projects are offered in the fields; Dima in Maysan, Ibn Omar in Basra, the fields of Architecture and the Kamit in Maysan, and an exploratory daqqa in Dhi Qar.”
“There are opportunities to establish petrochemical and fertilizer complexes in Karbala, the FAO Petrochemical Complex, and the Nebras project, after Shell apologized for a new direction by the company in focusing on gas projects,” he noted.
Al-Sudani concluded, “We developed the idea of establishing a petrochemical and refinery complex in Ain Sokhna in Egypt, according to understandings, and now we have started implementing the first phase (Basra – Modern), which will use with the flexibility of transporting exports, and can be an economic model that brings together 3 countries, for this important and vital project.”
[via PDK] Sudani has been in the US since Saturday and he met with Biden for an hour on Monday. Everything is now formally agreed too…Iraq is telling the people it is done and coming. The ABC agencies are saying to look for it between now and the rest of the week. The banks are hoping it will be tonight [Wednesday] or in the morning.
I think they are a little bit ahead of the game though. Logically and realistically I think it will be next week because all the key Iraqi ministers and officers are here in the US. I think they will wait until they are back on Iraqi soil...I hear they are putting up big screen TV’s all over Baghdad and other parts of Iraq for some big announcement when they get back. We don’t know what that announcement is…but, I can guess.
The Governor of the Central Bank, Ali Al-Alaq, announced the formation of a committee with the Ministry of Treasury and the Federal Bank to address and correct the violations of the sanctioned banks.
Al-Alaq said in a press statement, “Washington praised Iraq’s measures in resolving 80% of the financial transfers file,” noting that “the Treasury Department and the Federal Reserve praised Iraq’s measures in the financial transfers file.”
He pointed out that “an international company has developed a road map to develop bank departments and improve their work technically.”
Al-Alaq noted that “the atmosphere of dialogues and discussions in Washington is very positive, and we have begun to enter into the details of the program plan and procedures that will be present soon through a delegation that will visit Iraq.”
[Iraq] is now in a security and stability and debt free state and now they're going into a state of expansion on their economic reforms, development programs, sustainable development...all of the things we've been talking to you about are coming to fruition. They're not going to do that at 1310...
The 2023/2024 budget hasn't been sent to the HOR yet but they're saying in the coming weeks...There's time constraints on getting things done...They can't likely expose an exchange rate to the House of Representatives before they give it to them, they just can't do that because that would leak around, it would get out and it would be a disruption. But...they have to give them that information because it's a legal component. If they do what they say they're going to do and get an exchange rate out...it's likely going to be before that happens.
