Minister of Oil: The Azmara unit project will increase the production of improved gasoline and reduce imports, 9 JUNE

Minister of Oil: The Azmara unit project will increase the production of improved gasoline and reduce imports

Hayan Abdul Ghani, Minister of Oil and Deputy Prime Minister for Energy Affairs, stated: Today we commend the opening and fruition of the (Azmra Unit) project with a limit of eleven thousand barrels each day. This undertaking is viewed as one of the significant tasks in expanding the development of further developed gas fuel with a limit of 1,000 300 cubic meters each day. That amounts to one million three hundred thousand liters per day, reduces the amount of gasoline imported by one thousand three hundred cubic meters per day, and saves the state approximately 350 million dollars annually.

After the completion of the fourth refining unit project with a capacity of seventy thousand barrels per day, which entered into operation and production a short time ago, Abdel-Aghani mentioned that the project fits within the ministry’s plans to increase refining capacity, improve the specifications of petroleum products, and improve their quality. The fact that these projects were made possible by a national effort is the most important feature that sets them apart. After foreign businesses hesitated to implement it, in the South Refineries Company and its supporting bodies.

“The government and the ministry have paid a great deal of attention to the refining industry sector, with the aim of increasing national production in order to reach self-sufficiency and gradually shifting to exporting its surplus outside of Iraq,” the Minister of Oil continued. The eighteen months time of the public authority’s life has seen the acknowledgment and fruition of various activities in the refining business area.” Including the North Refinery with a daily capacity of one hundred fifty thousand barrels, the Karbala Refinery with a daily capacity of one hundred forty thousand barrels, the Azmara unit in both the Central Refineries Company and the North Refineries Company, and the fourth unit with a daily capacity of seventy thousand barrels that was completed in the South Refineries. Each day.

Abdul Ghani applauded the endeavors of Top state leader Muhammad Shiaa Al-Sudani, saying, “Without your endeavors, we could never have had the option to proceed with the achievement and accomplish the public accomplishment. This is a genuine comment that ought to be made about you. We additionally praise and worth the endeavors of laborers in the oil area overall and in the refining business area and the Southern Processing plants Organization.”

According to Hamid Younis, Undersecretary for Liquidation Affairs, this project is part of the government and ministry’s plans to increase national production and improve its specifications. Younis emphasized that a number of projects in the north, center, and south that increase production capacities and enhance the production plans of the government and ministry will be completed in the coming period. Oil subsidiaries, including the impetus breaking project, which is one of the promising undertakings that changes oil squander into white items with Euro Five details and a refining limit of 55 thousand barrels each day, which is executed by the Japanese organization “JGC.” These ventures address a significant expansion to the business area. Refining.

"RV UPDATE" BY BREITLING, 9 JUNE

  Breitling

  I have an average at where I think it's going to revalue at, $0.51 or $0.52 cents.  I could be wrong.  It's not like Abraham Lincoln said that or something.  It was an average.  That's why I got into the dinar. That's where I seen the value.

---

 The threat of a lop is still the same as when I got into this investment...The lop question is based on hyper-inflation ...verses policy inflation.  The Iraqi dinar is stable.  It goes up, it goes down but it's not major like what Zimbabwe and these countries where it was massive inflation.  No body could control it.  Iraq has complete control of the Iraqi dinar ...

The Iraqi dinar is a completely different ballgame.  It's not hyper-inflated because of the markets.  Iraq doesn't have a customer problem...production problem.  Iraq has a policy issue.  The people at the top know what they are doing.

When I did the evaluation [of the dinar] it was against countries and currencies that had lopped.  I had the same questions as you guys when I invested.  Where is this going?  How can this work? 

 I found out the value was in a policy based inflation, they want to add value to it, they injected US dollars into the economy, devalued the dinar.  Thedinar you and I have has nothing to do with hyper-inflation, major market problems or anything like that...Yes, they can add value to currencies that have a lot of zeros behind it.  Iraqi dinar is stable.  They can and are going to add value to it.

https://dinarevaluation.blogspot.com/2024/04/rv-update-by-breitling-1-may.html

Iraqi Dinar | From Flashing to Fixed: The Road to Iraq's Stable Exchange...

A delegation from Kurdistan will arrive in Baghdad soon to resolve the issue of salaries for security forces in the region, 8 June

A delegation from Kurdistan will arrive in Baghdad soon to resolve the issue of salaries for security forces in the region

Wafa Muhammad Karim, a forerunner in the Kurdistan Leftist faction, said today, Saturday, that a designation from the Kurdistan locale will show up in  Baghdad soon to determine the issue of safety powers’ pay rates.

Karim told , “The district is sitting tight for the compensations of the period of May for its workers, yet there is an issue with the pay rates of the security records, as the locale sends the pay rates through shares and not by the three or four names that the middle requests.”

He added, “A designation from the locale’s Money Board will visit  Baghdad to determine this matter. Everything is good to go in regards to the pay rates of customary workers, yet there is an issue in regards to security compensations.”

He called attention to, “The most common way of limiting compensations is slow and pay rates stay consistent month to month and compensations are not quit during the restriction cycle,” anticipating that “there is stalling with respect to the compensations of the security specialists and that there will be political intercessions to determine the matter.”

Awake-in-3D: Central Bank Gold RV Accounts are Real, What are they Planning?, 8 JUNE

Awake-in-3D: Central Bank Gold RV Accounts are Real, What are they Planning?

Central Bank Gold RV Accounts Are Real: What Are They Planning?

On June 6, 2024
By Awake-In-3D

Discover the Secret Tool Central Banks Might Use to Avert Financial Collapse. Perhaps Even a Total Money Reset.

The question remains: will a dramatic revaluation of gold really solve the fiat currency debt system death trap? In the case of the United States, a practical scenario would not only require a sky-high revaluation of gold but also utilizing gold to outright back the ever-devaluing dollar.

This hypothetical approach raises several issues.

First, the price of gold would need to soar to unprecedented levels to cover the national debt, as shown by the required valuation of over $133,000 per ounce (as explained below).

Such a leap would fundamentally alter the global economic landscape and could undermine trust in the existing financial system. Additionally, backing the dollar with gold would necessitate a complete overhaul of current monetary policies and financial practices, potentially leading to significant economic upheaval.

This scenario forces us to confront the limitations of relying on fiat currency and question whether a return to a gold standard could truly provide a stable solution or merely shift the nature of economic challenges faced by modern economies.

In This Article:What Are Gold Revaluation Accounts?

1. How GRAs Work for Central Banks
2. Using GRAs to Turn Gold Value into Money
3. How GRAs Can Help Cancel Government Debt
4. The Impact of U.S. Debt on Gold Prices

Gold Revaluation Accounts (GRAs) might sound complex, but they play an essential role in the financial strategies of central banks. They record the increase in the value of a country’s gold reserves as gold prices go up. This article will explain what GRAs are and how they can help countries like the United States reset their monetary systems and reduce their debt.

What Are Gold Revaluation Accounts?

A Gold Revaluation Account (GRA) is a special account used by central banks to track the increased value of their gold reserves over time.

When the price of gold rises, the GRA records these unrealized gains. For instance, if a central bank bought gold years ago at a lower price and the price of gold increases today, the difference in value is recorded in the GRA.

How GRAs Work for Central Banks

Let’s take the United States as an example. The US Treasury has 261,498,926 troy ounces of gold.

Originally, this gold was valued at $11,041,059,958. However, with today’s gold price at $2,400 per ounce, the value has increased significantly.

To calculate the current value of the US gold reserves:

• Current Gold Value: 261,498,926 ounces × $2,400 per ounce = $627,597,422,400

The difference between the original book value and the current value is:Unrealized Gain: $627,597,422,400 (current value) – $11,041,059,958 (original value) = $616,556,362,442

This $616 billion gain is recorded in the GRA, reflecting the increased value of the US gold reserves.

Using GRAs to Turn Gold Value into Money

Central banks can use the unrealized gains in their GRAs to improve their financial situation. They can move some of these gains to their capital accounts, essentially turning this “paper gain” into usable money without selling any gold.

For example, if the US Treasury needed funds, it could transfer part of the $616 billion gain from the GRA to cover expenses or increase its financial buffers.

This process involves adjusting the accounting records, not physically moving any gold.

How GRAs Can Help Cancel Government Debt

GRAs can also help reduce government debt. Central banks can use the gains in the GRA to pay off government bonds. This method reduces the debt without creating new money.

For instance, the US could use the $616 billion gain to cancel some of its outstanding government bonds. By doing this, the government reduces its debt burden, easing financial pressure without increasing the money supply.

The Impact of U.S. Debt on Gold Prices

The U.S. national debt currently stands at approximately $35 trillion. To understand the magnitude of this debt, consider the gold reserves of the U.S. Treasury and what would be required to pay off this debt using those reserves.

Currently, the U.S. has 261,498,926 troy ounces of gold. At the present gold price of $2,400 per ounce, the total value of the U.S. gold reserves is about $627.6 billion. This is a small fraction of the $35 trillion debt.

To pay off the entire $35 trillion debt with gold, the value of gold would need to rise dramatically. Specifically, each ounce of gold would need to be valued at around $133,837. This means that the price of gold would need to increase by over 55 times its current value to cover the national debt with the existing gold reserves.

This enormous required increase in gold prices highlights the severity of the U.S. debt situation. It shows just how far the financial system would need to stretch to resolve the debt through gold revaluation alone. The drastic measures required to achieve this highlight the scale of financial challenges faced by the government.

The Bottom Line

Gold Revaluation Accounts offer a practical way for countries to handle financial challenges. By using the increased value of their gold reserves, central banks can support government budgets and reduce debt.

For the United States, leveraging the $616 billion in unrealized gains from its gold reserves could provide significant financial relief.

However, the requirement for gold to be valued at $133,837 per ounce to cover the national debt highlights the catastrophic level of debt and the drastic measures needed to address it. This approach shows how gold, beyond being a precious metal, plays a vital role in modern financial management.

Supporting article: https://www.gainesvillecoins.com/blog/how-central-banks-can-use-gold-revaluation-accounts-in-times-of-financial-stress

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© GCR Real-Time News

Iraqi Dinar | Central Bank Of Reveals New Exchange Rate Of Iraqi Dinar |...

Iraq's PM: Iraq increases gas utilization, aims for zero gas flaring by 2028, 8 JUNE

Iraq's PM: Iraq increases gas utilization, aims for zero gas flaring by 2028

Shafaq News/ Iraqi Prime Minister Mohammed Shia al-Sudani announced on Saturday that Iraq's utilization of associated gas has increased to over 60%, with a goal to achieve zero gas flaring by 2028.

During the inauguration of the associated gas processing project at the Halfaya oil field in Maysan governorate, PM Al-Sudani said the facility has a production capacity of 300 million standard cubic feet per day and aims to halt gas flaring and promote environmental sustainability.

"This landmark project is part of our ongoing efforts to maximize the benefits of our oil and gas resources, a process that began in 2019 and has been closely monitored to ensure its completion," al-Sudani said. "It represents a significant step in our economic reform and optimal investment strategies to stop gas flaring and its associated wastage and environmental impact."

Moreover, the Iraqi prime minister emphasized that the gas produced will directly support power generation and reduce the need for imports, which drain hard currency. Gas production has increased from 2,972 million standard cubic feet per day in 2022 to 3,100 million currently, with 1,800 million standard cubic feet per day being utilized.

"The investment in associated gas has risen from 50% to 61%, with ongoing efforts to utilize all gas produced and achieve zero flaring by 2028."

The project, completed under oil licensing rounds, comprises two units, each with a capacity of 150 million standard cubic feet. It processes and dries the gas, separating its main components to produce dry gas for the national grid, powering the Amara government and Maysan investment power plants, generating over 1,200 megawatts.

Additionally, the project produces liquid gas to meet Maysan's needs, starting with an initial capacity of 1,100 tons per day, which will increase to 2,200 tons per day for household and automotive use. The surplus will be transported to other governorates. 

The facility also produces gas condensates at a rate of 20,000 barrels per day, which are blended with crude oil to enhance its quality. Sulfur is also produced as a byproduct, with a production capacity of 20 to 40 tons, and is marketed through the Iraqi Oil Marketing Company (SOMO).

Deputy Prime Minister for Energy and Oil Minister Hayan Abdul Ghani highlighted that the Halfaya gas processing project represents a significant advancement in the oil industry and associated gas utilization, transforming it into beneficial energy that supports Iraq's energy sector.

Abdul Ghani acknowledged the collaborative efforts of PetroChina and Maysan Oil Company, highlighting that the project's design capacity is 300 million standard cubic feet per day, comprising two units, each capable of processing 150 million standard cubic feet per day.

The project aims to refine and dry the gas, then separate its core components to produce:

- Dry gas for the national grid, powering local electricity generation stations.

- Liquid gas for cooking and automotive use, with an initial capacity between 1,100 and 1,200 tons per day.

- Gas condensates, blended with crude oil to improve market quality.

The project also contributes to sulfur production as a byproduct, with a capacity of 20 to 40 tons, marketed by SOMO.

For his part, Deputy Minister for Gas Affairs Izzat Saber underscored that the project aligns with government and ministry commitments to halt gas flaring and support clean energy initiatives. 

"The ministry succeed in utilizing 61% of associated gas, with plans to increase this to 78% by year-end, continuing efforts to convert flared gas into useful energy."