Jordan-Iraq electrical grid connection phase 2 to be completed by early 2025, 27 AUGUST

 The Jordanian Ministry of Energy and Mineral Resources’ annual report, which was made public on Monday, stated that the Jordan-Iraq electrical grid connection’s second phase would be completed in the first quarter of 2025.

As indicated by the report, work has initiated on common and designing errands, including securing materials, electrical breakers, transformers, and related framework for the 400 kV transmission line.

Stage two of the venture will include providing power to the Al-Qaim region in Iraq with a heap limit of 150-200 MW at 400 kV, following the culmination of the 330 kV transmission line. The undertaking likewise incorporates finishing the electrical association at Al-Qaim substation (132/400 kV) on the Iraqi side and developing the Risha substation (132/33/400 kV) on the Jordanian side .

The first phase of the project, which went live in the first quarter of this year, consisted of providing 40 MW of electricity to the Al-Rutba area in Iraq at 132 kV. This stage required the development of a 150 km transmission line on the Iraqi side.

On Walk 30, Iraqi Clergyman of Power Ziad Ali Fadhil initiated the primary period of the electrical association among Iraq and Jordan, which supplies Al-Rutba area in al-Anbar governorate with an underlying limit of 50 MW, expected to increment to 500 MW upon project consummation. The priest underlined that this task prepares for additional coordination into the Bay and Saudi electrical frameworks and is important for a more extensive Bedouin energy participation plan.

"WE HEARD ABOUT A COUPLE OF THINGS REGARDING RATES" BY BRUCE, 27 AUGUST

 Bruce  

 [via WiserNow]  

we heard about a couple of things regarding rates. I mentioned...that the contract rate on the dinar would be offered to you...

it is just under hundo right now, and it's on its way to that number should be there by the time we go in for changes...

And really, we've seen increases in the Dong as well...You guys are going to be very happy at the redemption centers with the rates...

the screen rates at the redemption centers are going to be three times higher than the bank rate on the dinar and  what you get on the dong will be approximately twice as much per dong at the redemption center as it would be at the bank...I know that for a fact, because we've been seeing what the rates are...

IRAQ'S INVESTMENT MAP/GUIDE 2024: YOUR ULTIMATE GUIDE!

Al-Fatah calls on Shiite forces not to interfere in Sunni disputes, 27 AUGUST

 Ali Al-Fatlawi, a member of the Al-Fatah Alliance, made a call on Monday for Shiite political forces not to interfere in Sunni political affairs because of the deep differences between the two groups, which may occasionally reach the point of “breaking bones.”

Al-Fatlawi said in a proclamation to , “The obstruction of the Shiite powers in the Sunni disagreement regarding the Place of Delegates might dissipate the votes to a few gatherings, so they should not meddle, after a few endeavors in which they tried to determine the emergency,” taking note of that “the Sunni debate is a lot further than to be settled by a gathering of delegates and requires local mediations.”

“The Parliament Speaker crisis has lasted a long time and there is less than a year and a half left in the legislative session,” he added, noting that “the continued presence of the Parliament Speaker due to political differences has greatly affected the Iraqi political scene and the democratic process in front of the world.”

It is interesting to note that Mohsen Al-Mandalawi is in charge of the House of Representatives, which continues to pass important laws despite not having a president.

ANALYZING RECENT IRAQ NEWS WITH MARKZ, 27 AUGUST

 MarkZ   

[via PDK]  

We have Al Alag (Governor of the CBI) in New York right now…he arrived overnight in New York…I hear from contacts at the Treasury that after meeting with financial people all week…the rumor is he will have a short diversion to DC mid week... 

 So we have a delegation from the Central Bank of Iraq over here including the Governor of the CBI. I cannot imagine they came all this way to only discuss the 4 or 5 banks the Fed has an issue with as they clean up corruption. IMO there is something bigger going on. The whole world needs this... I think it's good news for us that they are here.  

Iraq moves to profit sharing and new oil contracts” 

This is a few days old but they are changing how they work their strategic partnerships. They are distributing pieces and parts from ongoing revenue from oil – if you invest on those projects. This means they are looking for very long term investments both in and outside the country. This points toward long term stability. I was told this is an important leg for the RV.  They will become a regional powerhouse and influencer.

Iraq & US Treasury: Immediate Action to Enhance Iraqi Dinar’s Value | Ir...

“Hidden Forces of Speculation”… Economist Reveals New Reason for Dollar’s Rise, 27 AUGUST

 The rise in the dollar’s value in relation to the dinar has a new explanation, according to an expert in economics.

Bassem Jamil Antoine told , “In regards to the ascent in the dollar swapping scale and its excess at its ongoing rates in the equal market, it is the aftereffect of powers “in the background” or what is known as the “covered up state” of examiners and merchants, as they are the ones attempting to keep costs going on like this.”

He considered the public authority measures “frail notwithstanding these examiners and cash merchants, as they couldn’t restrict the ascent in return rates as a result of them and their activities and their ownership of influence, strength and cash, and they are the ones who decide costs,” as per him.

Jamil was of the opinion that “the exchange rates will remain the same as long as these hidden parties exploit the country.”

It is important that the dollar conversion scale in the nearby business sectors (equal) is recorded at around 1,490 dinars, an enormous distinction from the authority cost sold by the National Bank of Iraq, which is 1,320 dinars.

“There is no intention to reconsider the dollar exchange rates,” the Central Bank of Iraq Governor Ali Al-Aq stated on August 7, noting that “the Central Bank sells more than 250 million dollars daily at the official price 1,320 dinars.

He said, “The view that the dollar cost has risen or fallen is definitely not a right marker.”