PUK Supports Federal Budget Amendment to Enhance Oil Sector Transparency, 30 JAN

 PUK Supports Federal Budget Amendment to Enhance Oil Sector Transparency

Harem Kamal Agha, Leader of PUK bloc in Iraqi parliament. 

Iraqi parliament PUK oil and gas

The Iraqi parliament is set to vote on an amendment to the federal budget law, marking a significant step towards establishing a legal framework for cooperation between the federal government and the Kurdistan Regional Government (KRG) in the management of oil resources.

Support for Budget Amendment

Harem Kamal Agha, the Leader of the Patriotic Union of Kurdistan (PUK) bloc in the Iraqi parliament, told PUKMEDIA: “The PUK supports the amendment of the 2025 federal budget as per the bill provided by the federal government to the parliament.” 

He continued, “This amendment will help implement the budget law, enhance transparency in the oil sector, and increase state revenues. We are keen to see this amendment legislated in the Iraqi parliament, rather than alternative bills.”

Oil File Gains Legitimacy

Harem Kamal Agha further said: “We support the legislation of the government’s proposal regarding Article 12 of the budget law, which outlines the estimated dues for extracting oil from the Kurdistan Region.” 

He added, “The amendment specifies that the cost of oil production from the Kurdistan Region will be set at 16 dollars per barrel, with the final amount to be determined within 60 days. This amendment will resolve ongoing discussions about the oil file, as it will gain legitimacy once the oil is exported by the State Organization for Marketing of Oil (SOMO).”

Finance Committee Approves Amendment

The parliamentary Finance Committee recently voted in favour of a proposal to amend the section of the federal general budget law related to the resumption of oil exports from the Kurdistan Region.

Dr. Narmin Marouf, a member of the PUK bloc in the Parliamentary Finance Committee, told PUKMEDIA: “The Finance Committee has voted during its meetings to amend Article (12/Second/C) of the Federal General Budget Law, which pertains to the resumption of oil exports from the Kurdistan Region. According to the amendment we voted on, the actual cost of producing and transporting oil from the Kurdistan Region is set at 16 dollars per barrel. This amount will be paid as an advance to the Kurdistan Region until the actual value of oil production and transportation from each field is determined separately by the relevant advisory bodies, within 60 days of the implementation of the Federal General Budget Law.” 

On November 5, 2024, the Council of Ministers approved the proposal to amend Article (12/Second/C) of the Triennial Budget Law No. (13 of 2023), setting the average actual cost of production and transportation of oil from the Kurdistan Region at 16 dollars per barrel.

PUKMEDIA

https://www.pukmedia.com/AR/Home

TIDBIT FROM CLARE. 30 JAN

 Clare 

 Article: “Our relationship with America will become stronger with an initiative that Al-Sudani will announce soon.. Expectations of his advisor" 

 Quote: "Al-Din, the Prime Minister’s advisor for foreign affairs...expected Prime Minister Mohammed Shia Al-Sudani to announce a pioneering financial initiative that he said could change the business landscape in Iraq and strengthen its relationship with the United States."

SANDY INGRAM : Iraqi Dinar 2025 What to Expect? @DINARREVALUATION #iraqidinarinvestor #iraqidinar

 

UN: Major shifts in economic development projects in Iraq, 30 JAN

 UN: Major shifts in economic development projects in Iraq

The United Nations Development Program – UNDP revealed on Tuesday its most prominent development projects and activities in Iraq, confirming that it has recorded major shifts in economic development projects in Iraq.

“In recent years, UNDP focused greatly on creating appropriate conditions in the liberated areas for the return of the IDPs to their homes. With the stabilization phase approaching its end, PM Muhammed S. Al-Sudani indicated that Iraq is moving to a new phase of development.

 We, in UNDP, have recorded major transformations in economic development projects in Iraq,” the Deputy Resident Representative of UNDP in Iraq told the Iraqi News Agency – INA.

He stressed that “the work of UNDP will witness a transformation. On the one hand, we will continue to support reintegration, especially with the acceleration of the return of Iraqi citizens from the camps, and ensuring their ability to integrate into society and be welcomed by communities. On the other hand, we will focus more on the unique development challenges facing Iraq.”

“We are working, for example, on important initiatives to support the government’s efforts to combat corruption in the country, combat money laundering, provide support for security sector reform and strengthen the rule of law. At the same time, we are working to promote economic development, as Iraq increasingly relies on foreign direct investment to achieve development. We are also working to combat climate change, mitigate its effects and improve environmental conditions,” he added.

https://ina.iq/eng/37998-un-major-shifts-in-economic-development-projects-in-iraq.html

TIDBIT FROM MAJEED, 30 JAN

 MAJEED 

Senior US treasury official travel to Iraq today to counter illicit finance And the budget will be passed Sunday LFGGGG

Quote

Majeed KSA

@majeed66224499

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48m

Today's meeting ended with a unanimous vote in favour of the proposed text for the amendment to the budget law

WALKINGSTICK: Trump has declared a mandate to Iraq - Stop using my dollar!! @DINARREVALUATION

 

British website: New oil agreements reveal a growing Western influence in Iraq, 30 JAN

 British website: New oil agreements reveal a growing Western influence in Iraq

Information / Translation …
A report by the British oil Price website specializing in oil and energy affairs revealed on Wednesday that Iraq’s recent signing of several agreements with Western oil companies reveals an increase, albeit noticeable, of Western influence in Iraq.

“The growing number of deals between the West and Iraq highlights Western’s growing involvement in Iraq’s vital energy sector, and in this process, the United States and its main allies China and Russia have proven that they are capable of winning while working on two conflicts at the same time – the war of Russia and Ukraine, the war of Israel and Hamas, and it seems very likely that they can do the same in three countries if necessary, especially if the third country focuses on Taiwan,” the report said.

He added that “on January 16 alone, it witnessed the signing of many new agreements for British companies, followed by the visit of Iraqi Prime Minister Mohammed Al-Sudani to London, where he met with Shell CEO Wael Sawan to discuss opportunities to expand cooperation between Iraq and the energy giant company. Sawan confirmed Shell’s readiness to increase its investments in Iraq, especially in the gas sector, where it is a key player in it through its role in Basra Gas Company.”

He added that “the demonstration of Western soft power also appeared in the signing of a memorandum of understanding between the School of Oriental and African Studies at the University of London and the Iraqi College of Al-Mamoun, focusing on educational cooperation and the exchange of academic missions. One day later, the United States came in turn, as the Iraqi government agreed to the terms of the agreement with Halliburton Company to develop the Nahr Bin Omar and Sinbad oil fields.
“This is the tip of the iceberg where Chevron, ExxonMobil, ICOM and Bectel have all been nominated for bids for projects in Iraq with contracts worth more than $60 billion,” a senior source in the EU’s energy sector said.
According to industry figures, Chinese companies now manage more than a third of Iraq’s proven oil and gas reserves and more than two-thirds of its current production, so it is not surprising that the United States and its allies have since desperately sought to reverse this geopolitical trend,” the report said. Over / 25 Z

https://almaalomah.me/news/89516/translated/موقع-بريطاني-:-الاتفاقيات-الجديدة-للنفط-تكشف-تزايد-للنفوذ-ال