Iraq ranks second among Arab countries in hydropower capacity
Shafaq News/ Iraq has ranked second among Arab countries in terms of operational hydropower capacity, according to recent data from Global Energy Monitor.
The combined operational hydropower capacity in seven Arab countries—Egypt, Iraq, Sudan, Syria, Morocco, Lebanon, and Algeria—exceeds 10.2 gigawatts (GW).
Egypt leads the list with an operational hydropower capacity of 2.778 GW. Iraq follows in second place with a capacity of 2.436 GW. Sudan ranks third with a hydropower capacity of 1.85 GW.
Syria takes the fourth spot with an operational capacity of 1.585 GW, while Morocco ranks fifth with 1.395 GW.
Lebanon and Algeria are also featured on the list, with Lebanon having an operational hydropower capacity of 0.108 GW and Algeria rounding out the list with a capacity of 0.100 GW.
Tony opened by saying “this is going to be a life changing week.” 🥳
The “electronic issue” spoken of during Friday’s call was completed. It was an international transaction that had to happen, for us to proceed to this point.
The old ATM’s in Iraq were emptied out by the CBI, replaced with new machines, and loaded with the new, lower denominations over the weekend.
Sudani announced on Iraqi TV today, that before the end of the holiday, which is June 19th, that the Iraqi citizens will have their new exchange rate and access to the new ATM’s and the lower denominations.
Bank appointments are expected to be set for 30 minutes.
The current Dinar rate is showing at $4.49 during the call.
Tony’s Iraqi contact stated it should be between $4.50-4.60, by the time that it goes.
Tony’s US bank contacts expect it to be between $4.50-4.65.
Bank staff is expecting it at any time now, because of the successful international transaction that occurred over the weekend.
That’s it for the call highlights, have an amazing day, and let’s pray that this is the final call. Much love and blessings to all.🙏🥰
Advisor to the Prime Minister, Mazhar Muhammad Saleh, confirmed today, Monday, that Iraq ranked distinguished among international groups that follow the best banking compliance systems, which makes it safe from any international financial risks, indicating that the international community also praised the solidity of the financial and banking system. .
Saleh told the Iraqi News Agency (INA): “Cash issuance mechanisms are one of the exclusive powers of the Central Bank of Iraq as it is the issuing bank based on its Law No. 56 of 2004,” indicating that “what is published here and there about problems with cash liquidity is far from the institutional basis.” The well-established monetary authority in Iraq, which is one of the most important authorities concerned with the issues of the availability of cash liquidity and the stability of the payments system, which contributes to the sustainability of the stability of transactions in the national economy.
He added, "Managing cash liquidity, building the monetary foundation, and controlling liquidity levels in the country are subject to the principle of a long-term plan that is consistent with achieving the operational objectives of monetary policy in order to achieve the intermediate goals of stability and sustainable economic growth and determine the stability of long-term cash flows."
He stated that "Iraq occupies a distinguished rank among the international financial groups that follow the best international banking compliance systems, which makes our country safe from any international financial risks," pointing out that "Iraq is a cornerstone of regional and international financial cooperation institutions in the scope of combating money laundering and money laundering crimes." Crime and terrorism."
He stated that "Iraq recently received clear, positive praise for its strong anti-money laundering policies at the Financial Action Organization conference for the Middle East and North Africa region, which was held in the Kingdom of Bahrain, and it is a testimony from the international financial community that confirms the solidity of the financial and banking system in Iraq with the principles of compliance and the integrity of financial and banking operations." .
According to data taken from the government website of the Central Bank of Iraq (CBI), for the first time since the US invasion of 2003 the amount of monetary notes in circulation within the country is declining.
Remember that on Jan 1, 2024, CBI decreed all outside currencies within the country would be converted by exchanges to only the Dinar, removing the USD from the in-country exchange options for the first time since 2004.
The declining number of circulating notes seems to imply either that the Iraqi currency is undergoing a change in valuation as a result of the flood of USD-to-Dinar conversions (since the declining circulatory figure is not yet being produced by a massive explosion in international trade (outflow) and economic investments (in-flow)), or that the general public confidence in the Iraqi banking system has changed in a historic fashion over the last 3 or so years.
Both scenarios will lead Iraq to greater solvency on the world stage, and an inevitable increase in the country's currency valuation in international markets.
(Nothing in this post constitutes financial advice. SGAnon is not a financial advisor or licensed representative.)
Among Them In Iraq...The Most Prominent Global Oil And Gas Discoveries In 2024
Money and business Economy News - follow up Global oil and gas discovery volumes in April 2024 fell by 76% month-on-month, with Latin America and the Caribbean accounting for the majority of new volumes discovered.
The global total volumes of discovered gas and oil liquids reached 230 million barrels of oil equivalent in April 2024, according to recent data.
In contrast, global oil and gas discovery volumes saw a slight increase of 0.9%, compared to total discoveries of 228 million barrels of oil equivalent in the same month of 2023.
Oil liquids constituted the majority of the volumes discovered in April 2024, at 89%, equivalent to 200 million barrels of oil equivalent, while the percentage of gas volumes discovered was 11%, equivalent to 5 billion cubic metres.
Volumes Of Global Oil And Gas Discoveries In 2024
During the first 4 months of 2024, the total volumes of global oil and gas discoveries reached 1.7 billion barrels of oil equivalent, up from 1.2 billion barrels of oil equivalent during the same period in 2023, according to the monthly report, recently issued by the Gas Exporting Countries Forum.
Last month, 8 new gas and oil discoveries were announced, 4 of which were offshore.
Regionally, Latin America and the Caribbean dominated new discoveries in April with 47%, mostly in Brazil and Colombia.
While Africa represented 33% of the volume of global oil and gas discoveries last April, followed by the Asia-Pacific region with 12%, then Europe with a share of 8%.
Most Notable Discoveries
The most notable global oil and gas discovery announced in April 2024 was the onshore Chutadoro gas field in Colombia, with recoverable reserves estimated at 3.2 billion cubic metres.
The UAE's Mubadala Energy Company has made another landmark gas discovery in Indonesia, this time in Tangkulu, located in the South Andaman region, with recoverable reserves of more than 55 billion cubic metres.
This new discovery by Mubadala Energy, which follows the Liaran discovery in December 2023, would make the South Andaman region one of the most promising gas regions in the world.
Iraqi licenses and Korean exploration
One of the most prominent recent developments in the oil and gas exploration sector is the launch by the Iraqi Ministry of Oil of the sixth oil and gas licensing round, the first round in the country since 2018, according to what the Energy Research Unit reviewed.
The tour includes a total of 29 onshore areas for oil and gas exploration in 12 governorates, with the aim of attracting investments in these areas.
According to estimates, expected gas production from new Iraqi oil and gas licensing rounds - which have witnessed Chinese dominance - will reach 8.3 billion cubic meters annually.
In the same context, South Korea launched a new exploration campaign to explore oil and gas in the depths of the East Sea, according to what was monitored by the Energy Research Unit.
The South Korean President announced that there is a high probability of discovering up to 14 billion barrels of oil equivalent (boe) of oil and gas resources off the coast of Yongil Bay, near the city of Pohang.
If these discoveries are successful, the results of which are expected to be confirmed during the first half of 2025, they could meet South Korea's gas consumption needs for up to 29 years, and oil consumption for 4 years. 98 views 06/17/2024 - https://economy-news.net/content.php?id=44373
