TIDBIT FROM MILITIAMAN, 28 NOV

 Militia Man

  Article quote: "The objectives of banking reforming Iraq will end with a high integration that achieves competitiveness, homogeneity, compliance and governance within the Iraqi banking market and achieves the integration of the national banking market with the global market." 

 They haven't ever done that with an exchange rate of 1180, 1166, 1182, 1310, 1450...Never happened. 

 Then why would they just all of a sudden say, 'Now it's okay'?  

...Integrating Iraq's national banking market system with the global market system in my view will require a real effective exchange rate...

DINARLAND UPDATE: THE BUDGET & HCL LAW HAVE BEEN PASSED!! ‪@DINARREVALUATION‬

 

Iraqi parliament gives first reading to bill seeking restart of Kurdish oil, 28 NOV

 Iraqi parliament gives first reading to bill seeking restart of Kurdish oil

ERBIL, Kurdistan Region – Iraq’s parliament on Tuesday finished the first reading of an amendment to the country’s budget law in a bid to resume Kurdistan Region’s oil exports which have been halted for nearly 20 months.

The parliament convened to discuss a range of issues, including a bill recently submitted by the federal government to increase the rate for the production and transportation of a barrel of oil from the Kurdistan Region by nearly $10. The aim of the move is to pave the way for a deal between Baghdad, Erbil and international oil companies operating in the Region to restart the exports of the Kurdish oil via Turkey. 

The parliament said in a statement that it finished the first reading of the bill. Following the second reading, it will be put to a vote. 

Earlier this month, the Iraqi government approved a proposal to amend articles from the federal budget to authorize compensation to companies operating in the Kurdistan Region for oil production and transportation costs, setting the rate at $16 per barrel.   

Iraq’s three-year federal budget bill, passed in June 2023, had set the rate for one barrel of oil at $6.90 and international oil companies (IOCs) have requested three times that amount.

Oil exports from the Kurdistan Region through the Iraq-Turkey pipeline have been suspended since March 2023 after a ruling by a Paris-based arbitration court ruled in favor of Baghdad over Ankara, saying the latter had breached a 1973 pipeline agreement by allowing Erbil to export oil independently since 2014. 

Before the halt, Erbil exported around 400,000 barrels per day through the pipeline, in addition to some 75,000 barrels of Kirkuk’s oil.

Kurdistan Region Prime Minister Masrour Barzani said on Saturday that the halt has cost them $20 billion. 

Fuad Hussein, Iraq’s foreign minister, told Rudaw on November 14 that the exportation of the Kurdish oil could resume in weeks. 

https://www.rudaw.net/english/middleeast/iraq/261120241

MNT GOAT: HOW IRAQ WILL PAY FOR THE EXCHANGE OF CURRENCY ON REVALUATION, 27 NOV

 Mnt Goat 

 ...post RV Iraq will...be on the hook to sell oil to the US at a fixed, low price for the next 30 years (oil credits from our exchanges).

 This is in part how Iraq is going to pay for the exchange of currency on revaluation...

DINARLAND UPDATES! MORE NEAR OF OUR RV!! ‪@DINARREVALUATION‬

 

Parliamentary oil: Amending a budget paragraph enhances oil exports and understanding with Kurdistan, 28 NOV

Parliamentary oil: Amending a budget paragraph enhances oil exports and understanding with Kurdistan

The Parliamentary Oil and Gas Committee confirmed on Wednesday that the amendment of the paragraph that paid the cost of extracting the oil of the Kurdistan Region and delivering it to “SUMO” opens the way to expand exports and improve coordination between the region and the center.

A member of the Parliamentary Oil and Gas Committee, Kazem Al-Tuki, told {Al-Furat News} that “Iraq is committed to the OPEC system in determining the quantities of oil production, pointing out that production is sometimes lower than the specified ceiling.”

He added: “The recent agreement with the Kurdistan Region included an amendment of a paragraph in the budget related to the payment of the financial cost of extracting oil and delivering it to SUMO, which opens the way for expanding exports or directing the region’s oil to refineries.”

He stressed the importance of this understanding between the region, the Center and the Ministry of Oil to achieve better coordination in the management of oil resources.

From.. Ragheed

https://alforatnews.iq/news/النفط-النيابية-تعديل-فقرة-بالموازنة-يعزز-صادرات-النفط-والتفاهم-مع-كردستان

MARKZ: EXPLAINING THE 800# & GUESTIMATE OF RATES, 28 NOV

EXCERPTS FROM MARKZ

Member: Could you please explain the 800 #s for the new people?

Member: Redeeming banks/redemption centers will send a notification to the dinar sites and some gurus to publish …Call the 800 number posted…..give them your zip code and they set up an exchange appointment for you in your area……Thats what I was told. 

Member: Do you have a guesstimate of rates for us newbies?

MZ:  On the dong we have seen anything from .39 cents to $3.90 recently….i am hearing now that it could be closer to the $3.50-$3.90 range. I am hearing  low $4’s on the dinar but they have seen $6-$8…and some of my sources think the law rate is off. Indonesia we are still hearing $1.47.I do not have any idea what the Pengo or bolivar will be. Still hearing on the Zim between $30 million to $50 million per 100T note