Iraq plans to import gas from Kazakhstan, 18 OCT

 On Wednesday, it was made public by the Oil, Gas, and Natural Resources Parliamentary Committee that the Iraqi Ministry of Electricity intends to import gas from Kazakhstan.

Ali Shaddad, the Oil, Gas, and Natural Resources Parliamentary Committee’s spokesperson, explained to the that Ziyad Ali Fadel, the Minister of Electricity, discussed the shortage of kerosene and gas oil during a meeting with the committee members.

The Ministry of Electricity and Ministry of Oil’s upcoming depletion of strategic reserves was the topic of discussion at the meeting.

Shaddad said that, as a result of Iran’s inconsistent supply of gas, the majority of power plants in Iraq use gas oil.

Shaddad says that alternative fuel had to be used because Iran didn’t promise to keep supplying gas to fuel Iraqi power plants, which hurt the country’s population.

The Iraqi authority additionally said that the Power Service will before long go into a concurrence with Kazakhstan to supply Iraq with up to 20 million cubic meters of gas.

Fuad Hussein, the Iraqi foreign minister, and Rashid Meredov, the Turkmenistan foreign minister, discussed ways to boost commercial and economic ties, particularly in the gas sector, at the end of September.

According to the Ministry of Electricity, Iraq and Turkmenistan signed a memorandum of understanding last year to import the gas it needs to run its power plants. The Ministry of Electricity said that this step requires additional negotiations about how gas is transported through Iran.

Power plants in Iraq rely upon gas imports from Iran, which cover 33% of the country’s energy needs.

Fadel said before that Iraq will get gas from Turkmenistan through the pipeline network in Iran connected to Iraq to at last arrive at power plants in Iraq.

Within a period of five years, the agreement will enable Turkmen gas to be delivered via Iran to Iraq. According to reports, all of the steps required for Iraq to begin importing gas from Turkmenistan in January 2024 were completed.

The requirement to negotiate a comprehensive arrangement with Iran, the country of transit, is the primary reason for the planned deferral of the delivery.

RV UPDATE BY MILITIAMAN, 18 OCT

 Militia Man 

 What will have a profound impact on the global financial system? 

 ...IMO...is them at least reinstating their currency to what it was before.  Going 1 to 1 isn't going to cut it.  Going to a full-blown reinstatement would do that.  

 Also having a Real Effective Exchange Rate applied would do that.  

That's the type of profound impact I'm expecting... 

Sudani mentioned a couple of times that the dinar is stronger than the dollar.  Keep all that in mind.

JEFF: " THE RATE WILL CHANGE ON A SUNDAY MORNING" @DINARREVALUATION

Enhancing economic ties and addressing regional concerns: Barzani and Erdogan discuss cooperation, 18 OCT

 Shafaq News/ The President of the Kurdistan Region, Nechirvan Barzani, met with Turkish President Recep Tayyip Erdogan in Ankara on Wednesday to discuss the strengthening of economic ties between Turkiye, Iraq, and the Kurdistan Region.

According to a statement from the Kurdish Presidency, the meeting focused on “ways to increase trade exchange and investment opportunities for Turkish businesses in various regions of Iraq and the Kurdistan Region.”

“Additional topics during the meeting included the relationship between Erbil and Baghdad, the Development Road project, the threats posed by terrorism, and the ongoing fight against ISIS.”

President Erdogan reiterated Turkiye’s commitment to ongoing cooperation with Iraq and the Kurdistan Region, expressing the private sector's readiness and willingness to invest across different sectors.

Both leaders “stressed the importance of enhancing relations, particularly in the economic sector.” They also shared concerns over the complex situation in the Middle East, acknowledging the potential risks and consequences for the region. 

“They agreed on the necessity for all parties to work towards preventing further escalation of conflict and to resolve issues through peaceful means.”

RV UPDATE BY CLARE, 18 OCT

  Clare  

 Article: "US delegation arrives in Baghdad to prepare draft for "indirect" negotiations with Iran" 

 Quote "America is exerting strong pressure through Iraqi mediators to conduct negotiations with Iran regarding the future of the region.

 It wants to adopt the principle of a single basket in resolving all issues, unlike Tehran, which believes that each issue is separate..."

HERE IS THE PROCESS OF THE REINSTATEMENT OF THE IRAQI DINAR BY MNT GOAT ...

PM Al-Sudani discusses completion of West Qurna 2, Eridu fields with Lukoil, 18 OCT

 Shafaq News/ On Thursday, Prime Minister Mohammed Shia Al-Sudani met a delegation from the Russian oil company Lukoil, and discussed the aspects of cooperation with the company and its ongoing projects in Iraq.

According to Al-Sudani’s media office, the PM received a briefing on the company’s operations in the West Qurna 2 and Eridu oil fields and the progress of the work.

“Prime Minister Al-Sudani emphasized that the government places a high priority on the development of the oil industry and Iraq’s production capacities. He stressed the importance of executing development projects to maximize revenues, particularly in transitioning to the production of petroleum derivatives and various petrochemicals, supported by Iraq’s strong and extensive oil sector infrastructure, especially in extraction,” as per the media office.