The Iraqi Ministry of Oil has said it is prioritising the resumption of oil production in Iraqi Kurdistan, and the export of oil through the Iraq-Turkey Pipeline (ITP), “in line with national interests“.
In a statement on Tuesday, the Ministry said it has invited the Kurdistan Ministry of Natural Resources and international oil companies (IOCs) operating in the region to a meeting in Baghdad to discuss and reach an agreement.
On Monday, the Association of the Petroleum Industry of Kurdistan (APIKUR)— a trade body representing a group of IOCs operating in Iraqi Kurdistan — hit back at media reports that it said, “mistakenly point to a lack of flexibility from IOCs as the reason for the continuing impasse on resumption of oil exports via the ITP.
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Following the Ministry’s announcement, APIKUR said: “We acknowledge the swift, public response from Iraq’s Ministry of Oil and look forward to scheduling joint discussions to restore oil exports through the Iraq-Türkiye pipeline.“
“Futures slide as bond yields spike to a 3 week high” We are watching an inverted bond market. We are watching the short term bonds out bid and out earn the long term bonds. I was always told this is key to the reset and we are watching it live. This bond market is in shambles. I was always told to watch for this just before the reset…and to watch for the HCL law to be passed in Iraq. We are now watching them as we approach the finish line.
This is pure gold this morning… Article: “US Ambassador praises Iraq’s official adoption of E-Payment system” This particular US ambassador is well known as the “Ambassador of re-valuations”She usually gets sent to whatever country whose value is about to change. She is there in Iraq right now.
It certainly is a “push” ...They are talking about it openly in the Iraqi news. …They are blatant on this one “The impending rate change”. They are telling us what they are doing... Articles in Iraq say clearly that the dinar is going to be worth more than the US dollar.
[via PDK]
did hear some interesting things from military contacts. One in particular kinda surprised me overnight...don’t panic because they do their best to cloud the timing...He said “Do not worry- it will be before July 4th.” We will have it all before July 4th. Actually a couple military contacts gave me that same time frame. I still have great hopes for sooner...it is interesting they have plans to have it completed by July 4th…For all we know it could happen tomorrow…nobody knows the timing.
Out of Iraq – hearing we are supposed to be getting news on Sunday that has to do with the budget but since they have already passed it- does this mean we are getting a rate? Or which projects were executed or started? I do not know.
I am seeing rates of somewhere between $3.81 to $3.91 from a number of contractors working in Iraq. They are working on infrastructure - everything from hospitals to power grid to roads etc... And I am still thinking it will be $2 something on the dong. I hope I’m wrong and my contacts are right and it’s closer to the $3 mark.
An economist excluded, the financial budget was affected by dollar exchange rates.
“The budget is not affected by the rise or decline in dollar exchange rates, because Iraq will receive the dollar from the export of oil, and on the contrary, revenues increase as dollar prices increase globally,” Bassem Jameel Antoine told {Euphrat News}. He pointed out that “market commitments deal in the Iraqi dinar and there is no treatment in dollars and that building the budget is mainly on the Iraqi dinar and not on the dollar, so the budget is never affected by the dollar exchange rates.”
Member: Frank26 said the parallel market is now even with the official market and we are ready to go to 1 to 1.
MZ: That makes sense to me. We have been looking for parity in the parallel market and official market …. a number of Iraqi sources would agree with that. That is their goal before they move to their next step, which should be a substantial value change. That is according to them in the white papers and monetary reform papers. You can read it there.
Member: Even if it’s 1 to 1……that would help many right now in dire circumstances.
Member: I think the Dinar will eventually be between $3.80 to $3.95 value
MZ: Articles in Iraq say clearly that the dinar is going to be worth more than the US dollar.
Member: Well, with the USD only being worth about 20 cents… it wouldn’t take much for the Iraqi dinar to be worth more
Member: I read that some are saying we should go very soon possibly the 1st week of June
MZ: Nader dropped a video that is really interesting. Iraq is adding a number of other Arab banks in the country…….This is kind of a way for them to work around the US sanctions on some Iraqi banks. It's a great piece that tells us why it is so important for Iraq to get out from underneath those and have its value change. It is important ((IMO) for Iraq to move quickly on value.
MZ: I had a great conversation with a person involved with historic bonds yesterday afternoon. We have a few that are expecting spendable dollars Tuesday morning….Tomorrow morning. They were told they would have gotten it today if the banking system was open.
MZ: These are individual bond holders that are expecting access tomorrow. We should know in the morning if they disappeared (NDA) I am very hopeful about this one.
MZ: I spoke with a couple people involved with the process and cannot share the specific information – but it was very encouraging. But if what they say is accurate it could put us within days or a week or two at most of us processing and exchanging on the currency side of it.
MZ: I will try to get clearance to share a few more details in the morning but do not want to get anyone in trouble. .
Member: It would sure help knowing if this is real and happening right now.
MZ: I have some interesting news from the group side. Some are hearing nothing yet- and some are being told to prepare for some kind of announcement. I think some groups who have had “leaks” are being held to the end to make sure rumors of the timing is secure.
Member: I think we will see this happen early June for us.
MZ: I am kinda of your mindest. I think we will see solid movement before that like historic bonds…..but, it makes sense right now due to where we are in the month.
Member: Mark Z , what would Warren buffet value of his $100 million investment be worth after he rvs? And what do you think he invested in for the rv?
MZ: he stands to make about 1.7 billion based on my math.
MZ: “The gap between the rich and poor is larger than ever and frustration is growing to dangerous levels” This shows us why its so important to reset our monetary system.
Prime Minister Mohammed Shiaa Al-Sudani chaired today, Wednesday, the second meeting on the follow-up of agreements and memos with Turkey, which was concluded during the last visit of Turkish President Recep Tayyip Erdogan to Iraq last month.
A statement by the Prime Minister’s Office received a copy of it, “the meeting witnessed the review of the procedures for the implementation of agreements and memorandums of understanding concluded between the two sides, amounting to 24 memorandums, as the Sudanese stressed the need to continue communication with the Turkish side in proceeding with the implementation steps in parallel, and directed that each ministry concerned with the memorandums of understanding develop a clear action plan and directly under the supervision of his sovereignty; in order to accelerate the implementation.”
He also directed the Prime Minister “to accelerate the formation of the committee for the implementation of the framework agreement for water cooperation between Iraq and Turkey, and to emphasize the preparation of water projects, which will be implemented jointly, and to focus on strategic projects that are in the interest of Iraq in the long term, in order to achieve the required impact on the agricultural and water reality in Iraq.”
The statement continued, “The meeting witnessed the review of the procedures related to the signed memorandums of understanding, and the importance of forming joint committees between the concerned ministries; to follow up the implementation of cooperation measures in other vital fields and sectors, which contributes to strengthening bilateral relations between the two countries and achieving the interests of their peoples.”
