Sunday, September 29, 2024
"FOR THE HCL." BY FRANK26, 29 SEPT
KTFA
FRANK26: "FOR THE HCL.".............F26
Al-Atwani: Agreement with the Kurdistan Regional Government to review its oil contracts and adapt them constitutionally
9/26/2024
The head of the Parliamentary Finance Committee, Atwan Al Atwani, announced today, Thursday, an agreement with the Kurdistan Regional Government to review its oil contracts and adapt them constitutionally.
A statement from his office, a copy of which was received by {Atlfrat News}, stated that "the parliamentary finance committee delegation, currently visiting Erbil, headed by Al-Atwani, held an expanded technical meeting with representatives of the Kurdistan Regional Government, in the regional council of ministers building, to discuss resolving the outstanding issues between Baghdad and Erbil."
Al-Atwani said, "The meeting reviewed the oil files, financial revenues, automation of border crossings, unification of customs tariffs, and localization of employees' salaries," announcing "the development of a roadmap to resolve the points of contention between the central government and the regional government regarding the oil export file."
He stressed that "the attendees reached an initial agreement with the regional government to conduct a comprehensive review of the oil contracts to adapt them to the Iraqi constitution, in preparation for solving the problem of the halt in the region's oil exports," explaining that "the agreement stipulates that the central government and the regional government enter as a unified party in negotiations with international oil companies operating in the region with the aim of amending their contracts from production partnership to profit-sharing, in addition to reviewing the economic and commercial terms."
Al-Atwani pointed out that "the parliamentary finance committee is working to establish a sound basis for negotiations on resolving the pending issues, in order to resolve the oil export file during this year and eliminate the differences with the region," stressing that "the committee will meet, upon its return to Baghdad, with the federal oil ministry, in order to discuss the controversial issues and push towards resolving them under the umbrella of the constitution."
He said, "The meeting reviewed, in numbers, the steps for implementing the file of localizing the salaries of the region's employees, where the necessity of adhering to the decisions of the Federal Court was emphasized."
The meeting also discussed, according to Al-Atwani, the file of border crossings, customs, and taxes, and ways to include their revenues in the country's general budget, and the extent of the regional government's commitment to sending these funds to the federal government.
"WE HAVE HEARD FOR THE LAST 5 DAYS ALL ON THE NEWS ABOUT THE DELETION OF THE THREE ZEROS" BY FIRELFY, 29 SEPT
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:We have heard for the last five days all on the news about the deletion of the three zeros. That's all they talk to us about...
FRANK: You say you've been hearing about lifting the three zeros in the last five days? In all honesty you have been hearing this for the last five months. It's just that it's very concentrated on a daily basis now...
"THE NEW REALITY OF IRAQ... BEHOLD." BY FRANK26, 29 SEPT
KTFA
FRANK26: "THE NEW REALITY OF IRAQ... BEHOLD.".....F26
Including the dollar selling platform... a set of "important" files on Al-Sudani's table in New York
9/26/2024
Prime Minister Mohammed Shia al-Sudani spoke from New York about the most important strategic files, while confirming the suspension of gasoline imports at the beginning of next year after the completion of the FCC project in Basra.
The Prime Minister's media office stated in a statement received by "Al-Eqtisad News" that "Al-Sudani participated in New York, after midnight on Wednesday, in a dialogue session held by the American Chamber of Commerce and Al-Monitor, in the presence of an elite group of investors, businessmen, representatives of American companies, and the Iraqi-American Business Council."
During the session, he referred to "the new reality of Iraq, which is witnessing an economic and developmental renaissance in all its sectors, and has also taken great strides in the field of energy investment and associated gas, which had been wasted for years and cost the country losses estimated at billions of dollars, due to the import of gas and petroleum derivatives."
He stressed that "the government has embarked on a series of rapid projects, including the important agreement with Total, which will contribute to increasing oil production and investment in associated gas by about (600) million standard cubic feet, in addition to offering the fifth and sixth rounds' annex, and entering into contracts to produce oil and invest in gas," indicating that "after 2028, Iraq will achieve self-sufficiency in gas, in addition to activating oil derivatives projects, including the strategic Karbala refinery, whose production capacity reaches 140 thousand barrels per day, as well as rehabilitating the Baiji refinery, which was completely destroyed during the battles to liberate Baiji, and its production capacity is 150 thousand barrels per day."
The Prime Minister said during the dialogue session: “When I assumed my duties as Prime Minister, the investment in associated gas was less than 40 percent, and now the percentage has risen to about 70 percent.”
He added: "We have finished importing petroleum derivatives, and we will stop importing gasoline at the beginning of next year, after completing the FCC project in Basra."
He continued: "We are ready to enter into a partnership with American companies in the oil industry sector," indicating that "Iraq's vision is to convert 40% of exported oil into transformation industries, which will provide more benefits than selling crude oil."
He pointed out that "the government's policy is based on diversifying the contracting parties that invest in our oil and gas fields without specific conditions," noting that "the procedures for the licensing round are clear and transparent and there is no favoritism or preference for one company over another."
He added, "Development cannot be achieved without a solid banking sector that operates according to approved international standards, and 95% of financial transfers in Iraqi trade take place through reliable banks."
He explained that "the currency selling window will be closed at the end of this year, and the money laundering office at the Central Bank is working effectively," noting that "the government has contracted with Ernst & Young to reform the government banking sector, and we have strengthened citizens' confidence in banks and expanded financial inclusion."
He stressed that "Iraq today is going through an unprecedented phase of stability and recovery since 2003, and it is an opportunity to support the transition from a phase of wars and conflicts to a phase of development and stability," noting that "a stable Iraq in a sensitive region is something that is beneficial to the world, which is what we have witnessed since October 7, as Iraq has maintained a great deal of balance and calm, and we have kept Iraq away from the arena of conflict."
He pointed out that "the security forces have reached an advanced stage of capability and efficiency, and we have started an armament program to enhance their capabilities, and ISIS today does not represent a threat to our security," pointing to "the need for American small and medium-sized companies to form partnerships with Iraqi companies."
He added: "We are working to create job opportunities for young people by activating the private sector or supporting their private projects, through several programs, including the (Riyada) initiative," noting that "the size of the projects granted for investment will provide a large number of jobs, and the necessity for companies operating in Iraq to open training centers to develop the capabilities of young people."
He continued: "We have confirmed to the companies operating in the electricity sector the establishment of stations maintenance centers in order to speed up completion and reduce costs," indicating that "the government has a clear direction to support the agricultural sector, and farmers and growers are in a transitional phase to use modern irrigation technologies that the government has supported by 30%."
He added: "We provided loans to workers in the food industry sector of various types, and part of them are covered by sovereign guarantees," noting that "the Central Bank has independence and exercises its powers with complete professionalism, and there is an intention to establish a new bank that adopts the latest technologies."
He called on "all companies working in the field of electronic payment to work in Iraq," stressing "providing them with all facilities."
He concluded, "We have developed a plan to develop the infrastructure, with allocations amounting to $83 billion."
"THE COMMITTEE WAS PLANING THE ROLL OUT OF THE CURRENCY SWAP OUT IN NOVEMBER" BY MNT GOAT, 29 SEPT
Mnt Goat
...my CBI contact told us the committee was planning to begin the roll out of the currency swap out in November... You will not see the US Treasury leave the CBI until this is done and the Project to Delete the Zeros (swap out) is completed.
Mnt Goat
Article: “IRAQ PLANS CURRENCY REDENOMINATION AMID ECONOMIC CHALLENGES“
...this is just not another article about the Project to Delete the Zeros but much, much more...I believe this project is going to move forward this fall, and I am told not until after the US election.
--
CBI INTEL CONTACT
Now we hear first hand what my CBI contact told us was taking place to clean up and enforce the banking laws.
THE CENTRAL BANK OF IRAQ DECIDES TO CLOSE THE BABYLON BANK
The Central Bank of Iraq decided to close the Babylon Bank.
According to a document issued by the Central Bank of Iraq, addressed to the Babylon Bank, and received by “Al-Eqtisad News”, it decided to “refer the bank to forced liquidation based on the provisions of Article No. 69 of Banking Law No. 94 of 2004.
He added: “Appointing Ahmed Abdul Mahdi Nehme as liquidator of your bank.”
(This is the US Treasury inside Iraq as the strong arm to enforce Iraqi banking laws, something that was difficult for the CBI to do without repercussions from political members who used the banks to steal. So, now we hear first hand what my CBI contact told us was taking place to clean up and enforce the banking laws.)
https://dinarevaluation.blogspot.com/2024/09/cbi-intel-contact-by-mnt-goat-27-sept.html
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Bank appointment for Currency EXCHANGE Instructions/Checklist Bank Name_________________________________________ Bank 800#____________...
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Walkingstick All these meetings that the CBI had with all these agencies that were helping them with their monetary reform are done. Al...
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RayRen98 BANK STAFF RECEIVED "GET READY" MEMOS THIS MORNING, THEY'VE BEEN EXCITED ALL DAY! Nader From The Mid East Y...