The largest oil reserve was discovered in central Iraq, 21 JAN

 The largest oil reserve was discovered in central Iraq

The Middle Oil Company, in cooperation with the Chinese company (EBS), announced the achievement of a major oil discovery in the East Baghdad South Field.

The company's general manager, Mohammed Yassin Hassan, stated in a statement received by {Euphrates News} a copy of it that the main exploratory well testing operations in the East Baghdad field had achieved great success, as a highly productive oil flow of medium and light oil was obtained.

It is expected to add more than two billion barrels to Iraq's oil reserves, making it the largest oil discovery in central Iraq.

The Director General pointed out that the initial tests of the well showed a daily production rate of up to 5,000 barrels of crude oil.

Yassin praised the fruitful cooperation between Iraqi engineers at the Middle Oil Company and their counterparts at the Chinese EBS Company, which resulted in precise planning and strict implementation of well testing procedures in areas within the oil field.

This discovery is of strategic importance as it adds to Iraq’s oil reserves, which rank fifth in the world in proven reserves. This achievement also enhances the production capabilities of Iraq, one of the founding and influential members of the Organization of the Petroleum Exporting Countries (OPEC), which supports its pivotal role in the global energy market.  link

TIDBIT FROM FRANK26, 21 JAN

  Frank26  

I prefer a float.  I don't want to be in a basket, start out slow.  It might be good, better control of everything, inflation, GDP, everything but I'm from America, we want a New York nanosecond right now.  

I'd rather just go over to the float, start at $3.22 and let it go...and then cap it.

 Question:   "Will there be more than one rate at the bank?  Will there be a special rate?"  No.  The exchange rate of the Iraqi dinar will only have one exchange rate. 

FRANK26: " They're telling the citizens they're going to add value to their currency" #iqd

 

FRANK26: "CBI CLEANS THEIR SITES LIKE THEIR FLOOR!!!", 21 JAN

 KTFA

FRANK26: "CBI CLEANS THEIR SITES LIKE THEIR FLOOR!!!"......F26

Rafidain Bank announces cyber partnership with the Ministry of Interior to combat fake pages and websites

1/19/2025

Rafidain Bank Media Office:

Rafidain Bank announces a strategic partnership with the Cyber ​​Security Center at the Ministry of Interior to combat fake pages and websites that promote false news claiming to provide services such as advances, loans and banking facilities with the aim of defrauding citizens and exploiting the bank's name.
The Financial Inclusion Department at Rafidain Bank confirmed that the Cyber ​​Security Center monitored these fake pages and published their details on its official website, calling on citizens to avoid dealing with these unreliable entities.
The bank stressed the importance of being aware and cautious to protect banking data, while emphasizing that financial transactions are only carried out through the bank's official channels.

LINK

MILITIAMAN: You ask yourself, well, they're going to be reproducing new 25k notes for 1310 as an exchange rate to the US dollar?, 21 JAN

 Militia Man  

Quote: "The Central bank of Iraq reviewed the excellence enjoyed by Iraqi bank notes as they are one of the most complex security marks and were manufactured from the best types of paper used in printing bank notes to ensure quality and safety." 

 They show older currency of course but they're not going to share with you the new currency because of counterfeiting...

You ask yourself, well, they're going to be reproducing new 25k notes for 1310 as an exchange rate to the US dollar?  

Why are you doing that now? 

 You already have many security features, the 25k note is full of them...Do they really mean new notes?  I think they do.

NADER : US TREASURY COMMENDS IRAQ'S CENTRAL BANK!! WOW!! @DINARREVALUATION #iraqidinarinvestor

 

FRANK26: "IN MY OPINION, THERE IS A 3RD READING!!!", 21 JAN

 KTFA

FRANK26: "IN MY OPINION, THERE IS A 3RD READING!!!"...........F26

 

Parliamentary Finance Committee votes on the proposal to amend Paragraph 12 of the Budget Law

 

1/19/2025

 

The Finance Committee announced, today, Sunday, the vote on the proposal to amend Paragraph 12 of the Federal General Budget Law, as it came from the government.

 

Earlier today, the committee announced that a vote on amending Article 12 of the budget related to the Kurdistan Region’s oil was imminent, while it pointed out the most prominent proposals submitted to amend this paragraph.
The head of the committee, Atwan Al-Atwani, said in a speech during a committee meeting, according to a statement received by {Al-Furat News}, that "the committee's meetings are continuing to discuss amending Article 12 of the budget law related to the Kurdistan Region's oil," indicating that "the committee has reached the final stages of completing the hosting and providing a lot of information in preparation for voting on the amendment today."
He added, "It is necessary for there to be a decision from the committee to submit the draft law to a vote," expressing his hope that "an agreement will be reached to vote on this draft law, which complements the 2023 budget."

He pointed out that "there are a number of committee members who have raised many paragraphs and submitted proposals, and we will raise them so that everyone is aware of them, but they cannot be added considering that the project is an amendment and not budget tables," indicating that "the committee's opinion from the beginning is to proceed with amending the law, but we do not want the clauses and amendments to be like their predecessors, unproductive amendments."

He explained that "the committee added to the amendment paragraphs the obligation of the parties, whether the Ministry of Finance or the Ministry of Oil Resources, to adhere to the outputs of the consulting company," stressing that "there must be an obligation for both parties."

Al-Atwani concluded by saying, “The consulting company must have a working period that may end in 2025, and it has not achieved results,” stressing, “We are keen to implement the results during this year to be a basis for 2026.”

LINK