Kurdistan Region transfers more than 75 billion dinars to the federal treasury, 2 AUGUST

 Mawazine News – Baghdad

The Ministry of Finance and Economy of the Kurdistan Regional Government announced today, Thursday, the transfer of non-oil revenues of the Kurdistan Region to the bank account of the Federal Ministry of Finance.

The ministry said in a statement received by Mawazine News that the amount of (74,844,532,000) seventy-four billion, eight hundred and forty-four million, five hundred and thirty-two thousand dinars was transferred today, Thursday as the share of the Federal Treasury in the non-oil revenues of the Kurdistan Region.

The statement pointed out that this amount is for the year 2024, pointing out that the General Directorate of Accounting of the Ministry of Finance and Economy transferred to the bank account of the Ministry of Finance in the federal government, Erbil branch.

https://www.mawazin.net/Details.aspx?jimare=252544

RV UPDATE BY JEFF, 2 AUGUST

 Jeff   

They haven't implement their budget yet because they're waiting for the rate to change.  Everything in Iraq...the budget, the laws, the overturning the budget, everything out there is being stalled and delayed to be timed with the rate change.

 Article: "Four counties meet in Baghdad to support the development road project" 

...You have to look at their timing.  They finished the 5-year development plan around the end of July walking into the beginning of August.   Why? Timing.  They're about to revalue.  Their actions strongly suggest to me personally IMO I really feel they're going to be revaluing in August. 

IRaQ - World Trade Organization Update

Iraq partners with British company to develop Kirkuk oil fields, 2 JULY

 Iraqi Prime Minister Mohammed Shia al-Sudani oversaw the signing of the comprehensive oil memorandum, which involves the Ministry of Oil and British Petroleum (BP).

The signing ceremony of the memorandum of understanding (MOU) between Iraq and British Petroleum Company. (Photo: Kurdistan24)

ERBIL (Kurdistan24) – Iraq has signed a memorandum of understanding with British Petroleum (BP) to enhance the development of oil fields in Kirkuk. The agreement, signed on Thursday, August 1, 2024, aims to boost investment and production in the region.

Iraqi Prime Minister Mohammed Shia al-Sudani oversaw the signing of the comprehensive oil memorandum, which involves the Ministry of Oil and British Petroleum (BP).

The Iraqi Minister of Oil, Hayyan Abdul Ghani, represented the Iraqi side, while BP CEO Murray Auchincloss signed on behalf of the British company.

The memorandum outlines plans for the rehabilitation and development of major oil fields in northern Kirkuk: Baba, Avana, Bay Hassan, Jambur, and Khabaz.

This collaboration is expected to enhance oil and gas production, further strengthening Iraq’s energy sector and fostering investment in the region.

kurdistan24.net 

IRAQI BANK FRIEND UPDATE : " SUDANI IS CALLING HIS PEOPLE BACK " BY WALKINGSTICK, 2 JULY

 Walkingstick 

  [Iraqi bank friend Aki update] 

 AKI:  I got a phone call...Monday and the phone call is telling me to do something...Sudani and his staff/administration along with the CBI, they are reaching out to ex-patriots of Iraq...that left Iraq back in 2003.  

We're dealing with teachers, scientists, bankers, economists, doctors...In 2003 when Saddam ...caused these brilliant people...of Iraq to leave...This was called the brain drain.  The brain drain effect will now be replaced because of what Sudani is doing with these ex-patriots.  

He is painting a bright picture to all that left Iraq to come back.  He is explaining to them you will be receiving new lower notes, new currency...a new value that will give you purchasing power...

Your businesses, investments in our country are now well protected.  Sudani tells the ex-patriots around the world you can now make a living in Iraq...Sudani is calling them home. He's reaching out to them through the internet...He's really doing it by word-of-mouth.  

News travels at a faster pace from person to person...

 WALKINGSTICK:  Sudani is calling his people back and then he doesn't do the monetary reform?  No.  Not likely! 

Iraq to Join WTO (DELAY)

Iraq Signs Mou With British Company To Develop Kirkuk Fields, 2 JULY

Money  and business  Economy News – Baghdad  Prime Minister Mohammed Shia al-Sudani sponsored, today, Thursday, the signing ceremony of a comprehensive petroleum memorandum of understanding between the Ministry of Oil and the British Petroleum Company (BP) to develop Kirkuk fields for oil and gas production.

According to a statement, the Iraqi side was signed by Deputy Prime Minister for Energy Affairs and Minister of Oil Hayan Abdul-Ghani, while the BP CEO Murray Auchincloss signed on behalf of the company.

The statement added, “The memorandum includes the rehabilitation and development of the four fields of the North Oil Company in Kirkuk, which are the Kirkuk field with its two domes (Baba and Avana), the Bai Hassan field, the Jambur field and the Khabbaz field,

as well as the possibility of agreeing on other fields or exploration areas by agreement of the two parties, in light of the government’s efforts to optimally invest in promising opportunities in the energy sector, with the aim of increasing and enhancing oil production and gas and solar energy investments in this region.”

118 views   08/01/2024 - https://economy-news.net/content.php?id=45818