Wednesday, June 12, 2024
After OPEC’s decision to reduce cuts… Iraq increases its production by 40 thousand barrels per day, 12 June
After OPEC’s decision to reduce cuts… Iraq increases its production by 40 thousand barrels per day
Economy News _ Baghdad
Iraq increased its production by 40,000 barrels per day during the month of May, after OPEC’s decision to reduce cuts, according to a survey conducted by S&P Global Commodity Insights on June 10.
The nine OPEC members subject to quotas boosted crude oil production by 100,000 bpd in May, led by Nigeria and Iraq, pushing the group 320,000 bpd above their collective targets, while the bloc’s allies led by Russia cut production.
Iraq increased its production by 40,000 barrels per day to reach 4.28 million barrels per day, which is 280,000 barrels per day more than its current target, despite its agreement in May to compensate for the surplus production. The Platts survey estimates current oil production in the Kurdistan Region of Iraq at 210,000 barrels per day.
Iraq’s production reached 4.28 million barrels per day, up from the previous month, which reached 4.24 million barrels per day.
https://economy-news.net/content.php?id=44222
"RV UPDATE" BY CLARE, 12 JUNE
Clare
IN 2023 THERE WAS AN APPEAL ON THE ACTUAL BUDGET... BUT WAS RULED OUT THROUGH THE COURTS. THE TRIPARTE BUDGET WAS LEGALLY PASSED, SENT TO THE PRES. WHO SIGNED IT AND WAS PUBLISHED IN THE GAZETTE.
Today's Article Quote: "I do not think there will be an appeal, and even if there is an appeal, the budget will be spent, because it was voted on and its issue was decided legally." THERE IS NO APPEAL ON THE BUDGET SCHEDULES THAT WERE JUST PASSED BY PARLIAMENT AND IT WAS NOT NECESSARY TO BE SIGNED BY PRES. BECAUSE THE BUDGET WAS ALREADY PASSED...THE MOJ HAS IT NOW AND WILL PUBLISH WHEN READY.
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Question: "Wonder if the budget made it into the Gazette?" NO IT WAS NOT IN THE GAZETTE TODAY [Saturday] .
Article: "Rudaw publishes the text of the third strategic plan of the Central Bank of Iraq" Quote: "Regarding the initiatives that the bank linked to the sub-goals, they include the ability to issue medium or long-term securities, move from the platform to the sending banks in making external transfers, increase gold reserves, offer new issues of high-qualitycurrency, automate monetary operations, and support financing..."
Article: "Al-Mandalawi after voting on the budget tables: Parliament will follow up on disbursing the specified financial amounts".
The Acting Speaker of the House of Representatives, Mr. Mohsen Al-Mandalawi, congratulated the approval of the federal general budget schedules for the current year, stressing that the presidency made great efforts with the Parliamentary Finance Committee to expedite its completion and vote on it during the current legislative term, due to its importance in terms of its direct connection to the lives of citizens and its relevance. The document includes strategic, investment and service projects.”
Article: "Parliamentary Finance for Nina: We approved the budget schedules as received from the government, except for the governorate allocations."
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https://dinarevaluation.blogspot.com/2024/06/rv-update-by-clare-3-june_01957075202.html
Tuesday, June 11, 2024
“High-level” Iraqi-American-British-Spanish meetings in Amman,, 12 JUNE
“High-level” Iraqi-American-British-Spanish meetings in Amman
Shafaq News/ Prime Minister Muhammad Shiaa Al-Sudani stressed, on Tuesday, the need for an American position on the “aggression” of the Netanyahu government against the Palestinian people in the Gaza Strip.
This came during his meeting with US Secretary of State Anthony Blinken, on the sidelines of his participation in the Emergency Humanitarian Response Conference in Gaza, hosted by the Hashemite Kingdom of Jordan.
The meeting witnessed a review of bilateral relations and the results of Sudan’s recent visit to the United States, the overall situation in the region and the repercussions of the ongoing aggression against Gaza. His Excellency renewed Iraq’s support for any initiative aimed at a ceasefire and accelerating the opening of the door for the entry of aid to the afflicted Palestinian people in Gaza.
Al-Sudani pointed out the need for a clear American position on the aggression of the Netanyahu government, indicating the weakness of the international position in general regarding the response to the ongoing tragedy with the continuation of the aggression, as the numbers of victims and the extent of the destruction occurring cannot be ignored, with the continued aggressive threats against Lebanon, which threatens the expansion of the conflict in the region.
The Prime Minister also explained the dangers of the continuation of the aggression in Gaza and the threat it poses to regional and international stability, and that it will lead to extremist activity in the region being taken as a new pretext. The international community must also bear its responsibilities in the face of the scene of genocide committed by the occupation authorities, which led to The displacement of 80% of the Gaza Strip’s population, who were left without shelter or medical, humanitarian and service resources, and in the worst disastrous conditions imaginable.
For his part, Blinken expressed the US administration’s appreciation for Iraq’s steps in support of permanent stability in the region and the provision of aid that alleviates the difficult humanitarian conditions in the Gaza Strip, stressing the importance of working to achieve a ceasefire. He also conveyed to the Sudanese President Joe Biden’s appreciation for the support given by Iraq and its role. In regional and international peace efforts.
Al-Sudani also received British Minister of State for Foreign Affairs Tariq Ahmed, on the sidelines of his participation in the Emergency Humanitarian Response Conference in Gaza, hosted by the Hashemite Kingdom of Jordan.
During the meeting, bilateral relations between Iraq and Britain were reviewed, developments in the situation in the region, the repercussions of the ongoing aggression against Gaza and the tragic humanitarian situation caused by the genocidal war against the Palestinian people, and the aggression’s obstruction of relief efforts and the introduction of humanitarian aid.
The Prime Minister renewed Iraq’s firm and principled position on the Palestinian right, and its readiness to provide urgent humanitarian aid, stressing the need for the major powers and international organizations to carry out their humanitarian and moral role in stopping the aggression and preventing the ongoing catastrophe in Gaza, where most of its residents have become homeless and lack the minimum number of shelters. Humanitarian requirements.
For his part, the British Minister praised Iraq’s efforts to support understandings and stability efforts in the region, and the Iraqi government’s approach to establishing balanced relations, stressing that it is necessary to hear Iraq’s voice in what is being done for peace, and in shaping the future of the region, expressing his support for the efforts aimed at Organizing the delivery of aid to Gaza.
In this context, Al-Sudani also met today with Spanish Prime Minister Pedro Sanchez, on the sidelines of his participation in the Emergency Humanitarian Response Conference in Gaza.
During the meeting, bilateral relations between the two countries and prospects for their development in various fields were discussed.
Al-Sudani confirmed that he responded to the invitation extended to him by Sanchez to visit Spain during this year, stressing that Sanchez’s previous visit to Baghdad paved the way for the development of relations between the two countries. He also indicated that he directed the ministries to contract with reputable Spanish companies to contribute to the reconstruction of Iraq, and that the bilateral committees are an opportunity to consolidate the relationship and increase cooperation. And understanding between the two countries.
He renewed the gratitude of Iraq, the government and people, to the Kingdom of Spain after its recognition of the State of Palestine, which is a historical position that is consistent with the aspirations of the Palestinian people towards freedom and the establishment of their independent state.
For his part, Sanchez stressed that Spain’s relations with Iraq witnessed unprecedented development during this period, expressing his thanks for the Iraqi government’s confidence in Spanish companies. He also praised the Prime Minister’s support for the meetings of the bilateral committee between the two countries, stressing that his country’s support for Palestine comes from a motive Humanitarian and in support of legitimacy, stability and security.
"RV UPDATE" BY MARKZ, 12 JUNE
MARKZ
[via PDK] I do have some reports of a few groups that were requested to update NDA’s this weekend. There were multiple reports…which is interesting. A couple of these sources I know personally so believe it is spot on. This is from “Grouped currencies” Not individuals like you and I. With updating their NDA’s – the leaders are expecting something very soon.
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- Mon. 10 June 2024 MarkZ: “Many of my Bond people are expecting payment Tues or Wed. 11,12 June. Most sources say we will go within three days of when the Bonds go.”
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- IRAQ NEWS ANALYSIS BY MARKZ
“The United Nations development program has issued a 49 page report on investment opportunities in line with Iraq’s sustainable goals” These are things to develop a very robust Iraq economy.
“The UN sees progress in Iraq’s anti corruption efforts and lists recommendations..” The UN seems pretty happy with all the efforts you have made Iraq …here’s you “atta boy”...This is actually important to see all the sanctions going away and Iraq being free and clear to change values on the world stage.
... Sudani signed a cooperation agreement with the trade bank of Iraq and the German export credit corporation. If everybody thought nothing was going to happen in Iraq -then they would not be signing these extremely high level deals. You are watching them become a major player on the international stage.
I found this one encouraging. One of the things they are going to need to be taken seriously on the world stage is the value of their currency. Vietnam is also running into that problem right now. They need to revalue up.
...there is contention as to whether the president has signed it [the budget] yet or not...And attempts by Maliki to delay things. Don’t panic- they are not allowing a delay and will push forward with the printing of the budget…and execution. Maybe we will see the printed budget by Saturday now...I’m still hearing positive things for the 7th through the 9th.
https://dinarevaluation.blogspot.com/2024/06/rv-update-by-markz-7-june.html
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