Sunday, August 11, 2024
Iraq’s oil production exceeds its scheduled share in OPEC. 196 thousand barrels of increase per day, 11 AUGUST
Economy News – Baghdad
Iraq’s oil production continues to exceed OPEC+-mediated target levels; despite the Arab country, along with Russia and Kazakhstan, handing over surplus crude production compensation plans to the Coalition’s General Secretariat for the first 6 months of 2024.
Baghdad, along with Moscow and Nur-Sultan, agreed to gradually reduce oil production by 2.284 million barrels per day from July 2024 until September 2025.
The total of this surplus was 1.184 million barrels per day from Iraq, about 480 thousand barrels per day from Russia, and 620 thousand barrels per day from Kazakhstan.
Iraq, OPEC’s second-largest oil producer, has made serious attempts to fully abide by any additional cuts in OPEC+ crude production, which would support the stability of the global crude market.
The OPEC+ alliance includes members of the Organization of the Petroleum Exporting Countries (OPEC), as well as Russia, Azerbaijan, Bahrain, Brunei, Malaysia, Kazakhstan, Mexico, Oman, Sudan and South Sudan.
Oil production in Iraq
Iraq’s oil production has again exceeded OPEC+-mediated target quotas during July (2024), as the government confirms the feasibility of policies supporting production reduction by the coalition, according to Argus Media.
The latest data released by the state company Somo, which specializes in marketing oil in Iraq, showed that the country’s crude production increased by 160,000 barrels per day, registering 3.99 million barrels per day during July 2024.
However, those figures did not include production from the autonomous Kurdistan Region of Iraq in the north of the country.
By adding oil production from the Kurdistan region, Iraq’s total oil production exceeds the OPEC+ target of 4 million barrels per day.
In June (2024), Iraq’s oil production touched 4.2 million barrels per day, compared to 4.1 million barrels per day (day) in May (2024), including nearly 250,000 to 300,000 bpd from the Kurdistan region, according to Argos estimates.
treatment plans
Iraq has not been able to meet OPEC+ oil production targets in any month during this year (2024).
Along with the two countries of Kazakhstan and Russia, members of the OPEC+ alliance, Iraq unveiled plans in June (2024) in which it revealed details of a mechanism it plans to take to compensate for the increase in oil production for OPEC+ quotas.
The increase in oil production in Iraq reflects higher exports, which partly offset a decrease in supplies to local refineries and reduced the burning of crude.
Crude exports from the South Basra oil plant touched an average of 3.486 million barrels per day (bpd) in July (2024), with a strength increase of 196,000 barrels per day, from 3.29 million bpd in June (2024), according to Sumo.
Oil supplies for domestic refineries also fell to 469,000 bpd in July (2024), from 475,000 bpd in June (2024).
Jordan did not receive any exports of Iraqi oil in July (2024), according to data from Somo, seen by the specialized energy platform.
However, the two Arab countries recently agreed to renew a crude supply agreement under which Baghdad would supply Oman with 15,000 barrels per day under preferential terms.
Oil consumption in Iraq
Iraq’s crude oil consumption touched 61,000 barrels per day to generate electricity in July (2024); a decline from the consumption rate in June (2024); attributed to the construction of the electricity interconnection line between Iraq and Turkey that will provide the Arab country with a capacity of 300 megawatts during the summer months, according to SUMO.
“In addition, network connectivity with Jordan and the increase in gas production and imports from Iran have all helped reduce dependence on crude oil,” she continued.
Baghdad has often pointed to the stalled efforts to compensate for OPEC+ overshooting Iraq’s oil production target, due to a lack of transparency on crude production from the Kurdistan Region.
Iraqi Kurdistan stopped providing production data following a dispute over the pipeline between Baghdad and Turkey that halted 400,000 barrels per day (bpd) of its exports in March (2023).
The Iraqi Oil Ministry has previously confirmed the ease of compensating the increase in oil production in Iraq from the OPEC+ target after the end of the summer season and the start of the decline in temperatures, in statements it made to Argos.
Countries that have not achieved their goals
In contrast to countries whose production shares have exceeded OPEC+ targets, a number of alliance members have not been able to meet their production targets in recent months.
Azerbaijan’s oil production touched 80,000 barrels per day (bpd), below its target of 550,000 bpd during the first 6 months of the year, and Malaysia’s crude production fell below expectations, by an average of 40,000 bpd over the same period.
Similarly, Sudan’s crude production fell to just 20,000 barrels per day, compared to pre-civil war levels of around 70,000 bpd.
South Sudan, which is fully dependent on Sudan for its exports, also recorded a decline in its crude production to more than half, as a result of the continued closure of Sudan’s main pipeline.
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Added 2024/08/10 – 1:09 PM
REPORT FROM MR SALVAGE, 11 AUGUST
MR SALVAGE
REPORT FROM MR SALVAGE : World Statement OF The precatorias of Brazil 🇧🇷
A cordial greeting to all the participants of the program.
The news of the death of four whales in the crash of the plane from Brazil is unfortunate, this information is already going around the world, we want to clarify that these people are of sovereignty and not precatory.
All the leaders who are in Brazil are in perfect condition and working so that all of you can receive in the best way.
Thank you all for your patience and support.
We are in Victoria!
Doctor Julián.
LAST REPORTS OF MR SALVAGE:
REPORT FROM MR SALVAGE , 1 AUGUST
https://dinarevaluation.blogspot.com/2024/08/report-from-mr-salvage-1-august.html
MR SALVAGE UPDATE ON TELEGRAM ROOM, 30 JULY
https://dinarevaluation.blogspot.com/2024/07/mr-salvage-update-on-telegram-room-30.html
LATEST FROM MR SALVAGE, 7 JULY
https://dinarevaluation.blogspot.com/2024/07/latest-from-mr-salvage-7-july.html
Iraq loses $52 billion in foreign investment due to "corruption", 11 AUGUST
On Saturday, the head of the "Iraq Al-Mustaqbal" Foundation concerned with economic affairs, Manar Al-Obaidi, referred to the latest report of the United Nations Development Program, which revealed the exit of more than 5 billion US dollars in foreign direct investments from Iraq in 2023.
The report showed, according to Al-Obaidi, that Iraq lost foreign investments worth more than 52 billion US dollars from 2013 to 2023.
Al-Obaidi stressed, in a statement received by Shafak News Agency, the importance of foreign investments in stimulating economic growth, increasing job opportunities, and transferring knowledge, stressing that foreign investments are an important source of income for funds not linked to state revenues or local investments.
Al-Obaidi identified the main reasons for the exit of these investments from Iraq, which include the deteriorating business environment, lack of transparency, accumulated bureaucracy, and multiple and conflicting decision-making sources, explaining that the lack of clear laws to protect foreign investors’ funds also contributed to this deterioration.
Al-Obaidi described the private sector support programmes as “weak slogans”, pointing out that the totalitarian and socialist thinking is prevalent in government institutions, which has negatively affected the objectives of investment agencies that have focused mainly on local real estate investments rather than in the fields of energy, infrastructure and productive projects.
Al-Ubaidi stressed that the continuation of socialist and pastoral thinking in government agencies will lead to the continued draining of foreign investments from Iraq.
He stressed the need for a real will to improve the business environment through three basic elements: transparency, facilities, and protection, in order to attract foreign investors and strengthen the Iraqi economy. link
Bruce’s Big Call, 11 AUGUST
Bruce’s Big Call Dinar Intel Thursday Night 8-7-24 REPLAY LINK Intel Begins 1:08:40
Welcome everybody to the big call tonight - it is Thursday, August the 8th, and you're listening to the big call. Thanks for listening wherever you're tuned in, all around the globe, big call universe. Thank you. And boy, we're gonna have a great week. It looks like still, it's not the weekend, a great weekend.
What else is happening? When it comes to Intel, I have to tell you where we are and maybe where we're not. We did hear obviously, you guys know I was big on today being the number eight, China's favorite, number 8 8 24, and we did have some things that got started today, like bond holders getting paid out of Reno. And we know that pay masters and bond holders were flying into Reno, 3 flights in and 3 flights out - private jets 3 in and 3 out Reno Nevada - so that’s underway -
And I cannot speak to CMKX directly as fas as who has been paid and who has not been paid so be patient about that - it hasn’t happened for everybody yet – 0bviously – but I did get confirmation that over 1500 farm claims have been paid out as of 8 am this morning. You say well I’m not a farmer and I don’t have a farm claim -- I get that – I get it – but the fact that that many have been paid at 8 am that this morning is a good thing
And the other thing we heard three specific people that we know, were paid out 300,000 - one 410,000 and one paid 525,000 -- Now those are for farm claims, and so those are continuing - I think we had over 1500 paid out this morning - bond owners under way - what about prosperity packages? We did confirm they did have their meeting last Saturday s. They did decide - that was almost a week, not quite as what five days ago –
They did decide to use hand to hand delivery. Of those I know there's not direct deposit, not on top of the redemption center meeting / exchange - but rather they are going to come to your house Now I hope they will call before they show up. They're not arresting us. They're giving us a pretty sizable check, understanding its minimum 10 million if you're in prosperity. And those of you who are know who you are. So that’s a really good thing.
And also, people that we do deliveries are federalized National Guard - Federalized National Guard that has been contracted to do that delivery for us. So we think there'll be three members. One will stay with the vehicle. Two will come to the door, and that will be a real blessing when those come.
Now, those deliveries are supposed to have started either this evening or tomorrow morning, and that'll be really cool as they start tomorrow morning. Let's go beyond that. Let's see what else we know.
We know that today the redemption center stuff went in at noon - but they did not get the green light from Treasury yet - to send out the emails to all the staff and all of the principles, primarily the principals in all of the redemption centers, and the person that we know has jurisdiction over 2821 redemption centers that are located east of the Mississippi River. So we still don't have that happening yet. They could very well happen either tomorrow or Saturday.
Now the latest information that we received this evening - It was an hour or two before the call tonight was saying that we would get that start for tier 4B - that's the internet group - also included, I would have to say, would probably be tier 4A the Admiral’s groups.
And we thought at last count, the 22 of those groups. So those groups will probably be notified around the same time that we get notified. They could get it sooner, though. They might get a little sooner, but those are coming out, and we're hearing the last piece of information was that we should get those Saturday morning, or we'll say Saturday at least by noon.
So if we don't get them tomorrow, which is possible - One piece of information says 24 hours, we put it in tomorrow. And another said 24 - 48 hours, which would put it by Saturday around noon. So be aware that that's more than likely going to be the case, and open Saturday up for exchanges to occur that afternoon / evening.
So also we can get that and we and Sunday, redemption centers will be open, and so on and so on. We would be able to exchange and redeem our zim and bonds, if you have bonds, sheet bonds, Saturday, Sunday, Monday, and so on, all the way through the week.
So when it comes to what you guys might be seeing, I can tell you that the Zim rate is extremely high, and we're going to be given a very strong rate on the dinar. Don't have the Dong yet, but it's coming. And the banks and redemption center screens this afternoon, by five o'clock today, were populating.
So they weren't solid. They were flashing so fast you could make out the value of the currency, but all 19 currencies that are going up in value for us will be solid either tomorrow or probably Saturday, either one. So don't worry about that. But they could not read the rate because they were populating and blinking, flashing – so fast. They call them flashing because they are so fast,
All right, so that's happening that shows that the rates are trading and they're still trading until Friday. Certainly the 4x is trading till Friday at five o'clock, and that'll be good, and then they'll continue to the Forex on Sunday, at 5pm -
Lets see - anything else ? I want to I want to say everything is moving behind the scenes. I'm sure there's stuff happening on the political front. I don't have anything to mention about that right now. I don't know about, well, I know that we're looking at doing some --- uhhh I can’t even mention that –
We're looking at getting things well underway for us, but I can't tell you when NESARA and GESARA will actually start. I believe NESARA will start with a new rate for our USN dollar, I don’t know how we should have that if it's even going to be announced, if at all -- I think we've heard that it's just going to come out, and we get it. We know it. We get it to banks. We get at the end, and we realize our new currency is asset backed, and we just run with it.
Our fiat money here in the states will be good for a few more months, even after the gold back dollar comes out. Because as the gold dollar is phased in and we get that at the banks or ATMs, the old fiat currency will go away and we'll use it, or we'll turn it in and exchange it.
I wouldn't collect $50,000 in fiat currency on your mattress or in coffee can and bury them in the yard, because eventually the currency will be worthless even here in the United States, you want to be very careful not to do that. I know some people that are kind of like that. They don't trust the banks, and they want to just have their money. Well, you better be aware that our new money is changing.
Our new money is coming out as an asset backed USN for us note or United States new - Look at it either way - USN and it's still the US dollar, but it's not USD, it's USN designated on the screens.
Okay, so what everybody needs to do is pay attention between now and the weekend to emails coming in, and I would say there's a pretty good chance we're going to get them Saturday before lunch. I don't about tomorrow - it was in play big time, but the latest information took tomorrow out of play and brought Saturday into play. So I'm going to go with that for right now and that’s the last I can say about it.
I think that’s everything -- I want to make one little caveat. There are two things. One - I meant to mention this on Tuesday night, there is an email going out or around that is suggesting that President Trump was arrested or President Trump was shot, executed or something - And there have been a couple of them out there from the deep state - they’re lies, and there's an attachment when you open those up, there's a virus, a really dangerous virus that will totally corrupt your computer system or your phone. So do not open it.
If you get something that says President Trump or Trump arrested, just ignore it and pass it on. Don't open it because it's got a norovirus in it, if you will.
The other thing point I wanted to make is be careful what you guys are reading online. There's some things coming out talking about this being capped, or that being capped, or you're only going to get so much for zim, or you're only going to be able to max out to this. None of that's true. It's all a lie.
There's no limit on the amount of zim, and the rate is going to be incredible. And I'll just say it this way, remember when we talked about this and zim was on par with the dollar ? It will be higher. Just saying –
Now, stay away from some of these sites, even the sites that you would think would be okay have been warned, warned and you don't want to be taking part in those. I know it's something I used to look at everything I can find online, too. But your best bet is to kind of minimize what you're reading right now because there’s a lot of deep state stuff that's trying to take you out of the benefit of this blessing. All right?
All right – enough said - Now, let's go ahead and pray the call out - first before we do. I want to thank Bob and I want to thank Sue - GCK Jeannie, also Pastor Scott and the satellite team, or sat team as I call them getting the call out to virtually every country in the world, almost and to anywhere from 15 to 20 - 20 plus million listeners. And that's a beautiful, beautiful job that they've done to do that.
So I'm very, very pleased that they have done that - I want to thank big call universe, the listeners, for listening to the call for the last 13 years. And obviously some of you, many of you, have listened from the first call and haven't missed a single call, which is really amazing. Let's do this, guys, let's just stay in faith and watch what happens over the next couple of days, and then we'll be ready to set our appointments go in exchange and redeem our zim. Let’s do that and let’s pray the call out
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