The Finance Committee in the House of Representatives discussed, on Wednesday, with a US delegation, the file of contracts for foreign oil companies operating in the Kurdistan Region of Iraq.
The media office of the head of the committee said in a statement, seen by “Economy News”, that “the chairman of the Finance Committee, Atwan Al-Attwani, received the delegation of the American Embassy headed by Julie Jones, the economic adviser of the embassy, and Chris Torres, adviser of the file of the Iraqi Council of Representatives in the political section.”
The statement added that “the meeting discussed the details of the amendment of Article 12 of the Federal General Budget Law related to the production and export of oil, in addition to the financial challenges facing the country and the preparations for the preparation and approval of the 2025 budget tables.”
He continued,
“The meeting discussed the file of contracts of foreign oil companies operating in the region, and some details related to the production and export of oil, within the framework of the amendment of the General Budget Law, which the House of Representatives voted recently, as a first step to resolve the oil disputes between Baghdad and Erbil and in line with the Iraqi Constitution.”
Al-Atwani stressed, according to the statement, “the need for the region to commit to pay its financial dues to the central government in exchange for receiving its dues, including the salaries of employees and financing of projects, to end financial disputes,” reiterating the keenness of the Finance Committee to “end all disputes and stop the smuggling of oil; because of its negative impact on the financial stability of the country.”
The statement explained that “the meeting witnessed a discussion of the timing of the approval of the budget schedules for 2025; with the aim of launching projects according to the specified schedule with emphasis on increasing non-oil revenues, reducing spending on non-essential projects, investing in service and educational projects and supporting the private sector.”
[Response to Newshound Guru Clare USAID/Elon Musk 2-4-2025 Article below]
Elon Musk is NOT on a mission to downsize the Federal Government.
He is working on discovering and elimination fraud and waste...USAID is a grifters delight and has been used, since the Kennedy era, as a way to launder money.
They give grants that are fraudulent...
In no way will Iraq be affected by the closure of the front agency. After all, haven't we be inundated by statements of "Ending Corruption In
Iraq"? This is a puff-piece article of no consequence.
It is merely an anti-Trump (TDS) article...Pay no attention as it couldn't possible have any bearing on the important and vital work being done in Iraq...
Shafaq News / The US envoy of the hostages, Adam Boehler, on Wednesday sent a message from Donald Trump to Iraqi Prime Minister Mohammed Shia Al-Sudani about his government’s ability to liberate the Israeli kidnapper Elsabeth Tsurkov, who is believed to have been kidnapped by an Iraqi faction about two years ago in the capital Baghdad.
Trump’s envoy, according to a news published by the Israeli website “Ynet”, translated by Shafak News Agency, made an implicit threat to the Sudanese, regarding Tsurkov, saying: “Either you are incapable, or you are an accomplice in the kidnapping process,” adding: “If (Tsurkov) does not return to her home, you are an partner.”
The Times of Israel recently reported that Israeli authorities had asked several Western countries to exert pressure on Baghdad to work on the release of Tsurkov, who was kidnapped in Baghdad in 2023.
The Israeli newspaper also reported on Tel Aviv’s move through indirect talks with Baghdad, conducted by mediators, in order to work to secure the release of Tsurkov, who also holds Russian citizenship.
Media reports said last Friday that Israel was close to completing an exchange deal to release Israeli researcher Elizabeth Tsurkov, who was kidnapped in Iraq for about two years.
According to a report published by the British website “Amwaj”, translated by Shafaq News Agency, Israel intends to complete an exchange deal to release detainees from the Lebanese Hezbollah, who have been detained since the outbreak of the war, including Imad Amhaz, the Lebanese naval captain, who was captured during a special operation carried out by the naval commando unit “Shayet 13” about three months ago.
Iraqi Foreign Minister Fouad Hussein confirmed in a statement to the Axios website last week that Tsurkov is still alive, noting that Prime Minister Mohammed Shia Al-Sudani is making efforts to release her.
Tsurkov is 36 years old and holds bich Israeli and Russian citizenship, and resided in the United States while completing her graduate studies at Princeton University. It is estimated that she is being held by Hezbollah battalions in Iraq.
At that time, the Israeli Prime Minister issued a statement saying: “We hold Iraq fully responsible for its safety and health. It is an academic who visited Iraq with its Russian passport on its personal initiative, as part of her academic research to obtain a doctoral degree from Princeton University. The case is dealt with by the competent authorities in Israel to ensure its security and safety.
For her part, Irina, Tsurkov’s mother, expressed her displeasure with the authorities’ handling of the case, telling Channel 13 that “no government official contacted me, and no one updated me of any updates. The last time I heard from her was two months ago when she was in Turkey, and she told me that everything is fine but she was not available because of the weakness of the network. I don’t understand what happened, suddenly the journalists started communicating with me.”
In a recent live stream, Melanie Hind, an influential figure in the realm of Iraqi Dinar investment, updates her audience on various developments in Iraq’s economy and political landscape.
She discusses significant contracts, investments, and potential currency revaluations, including an $800 million contract signed by Sudani, alongside BP’s planned $25 billion investment in Iraq’s oil and gas sector.
Hind emphasizes the urgency of the situation, mentioning that the timeline for legislative changes is tight, hinting at the imminent release of new currency rates.
She encourages her viewers to adopt a wealthy mindset, reinforcing affirmations that promote financial prosperity. The conversation also touches on the broader implications of these changes, including the potential benefits of new banknotes designed with innovative security features. Hind concludes by inviting her audience to participate in future discussions and to embrace the belief that significant financial changes are on the horizon.
🌊 Melanie Hind shares her personal journey of selling her house and moving closer to nature.
📈 An $800 million contract was signed by the Iraqi government, with details yet to be revealed.
🛢️ BP plans to invest $25 billion in Iraq’s oil and gas sector, with a deal expected to be finalized soon.
💡 Melanie encourages viewers to adopt a wealthy mindset with affirmations of health and abundance.
🏦 New banknotes with innovative features for the visually impaired are being introduced in Iraq, potentially indicating a new exchange rate.
⏳ Timing is crucial as discussions around budget tables and currency rates are ongoing, with potential announcements expected soon.
🙏 Hind invites her viewers to engage with her content, emphasizing community and shared financial growth.
Key Insights
📄 Significance of the $800 Million Contract: The signing of an $800 million contract by the Iraqi government is a critical development, yet the lack of details on the contractor raises questions about the underlying motivations and potential impacts on the economy. This contract could play a pivotal role in Iraq’s economic stabilization and future growth, especially in the context of ongoing investments in infrastructure and services.
🏗️ BP’s Investment Timeline: BP’s commitment to invest $25 billion in Iraq’s oil and gas sector underscores the international confidence in Iraq’s energy potential. The expected timing of the agreement, which is projected for the coming weeks, suggests that Iraq may be on the verge of significant economic transformation, especially if the new rates for currency are introduced concurrently.
🔄 Currency Revaluation Expectations: Melanie Hind highlights a critical expectation among investors: the introduction of new currency rates post-budget discussions. The anticipation of these changes reflects a broader belief in the potential for a currency revaluation, which could significantly enhance the value of investments in the Iraqi Dinar.
🎉 Affirmations for Prosperity: Hind emphasizes the importance of mindset in achieving financial success. By encouraging viewers to adopt affirmations such as “I am healthy, I am wealthy, I am Divine,” she stresses that a positive mindset can attract wealth and opportunity, reinforcing the spiritual connection many investors feel towards their financial journeys.
💳 Introduction of New Banknotes: The issuance of new banknotes with enhanced security features for the visually impaired is an important move for Iraq’s financial system. This initiative not only addresses inclusivity but also signals a potential overhaul of the currency system, often seen as a precursor to a significant currency revaluation.
🎯 Timing and Strategy for Currency Exchange: Hind discusses the strategic timing for currency exchange, suggesting that significant changes may occur during off-peak banking hours, such as weekends. This insight is crucial for investors looking to maximize their returns and should inform their planning and actions in the coming days.
🌍 Global Economic Implications: The discussion on the Iraqi Dinar revaluation ties into broader global economic trends, including the potential for leveling the playing field in international currency values. As economies evolve and adapt, the changes in Iraq’s financial landscape could have far-reaching implications for investors and markets worldwide.
In conclusion, Melanie Hind’s live stream serves as a comprehensive update on the Iraqi Dinar investment landscape, emphasizing both the immediate developments and the broader implications for investors. Her focus on mindset, strategic timing, and the significance of recent contracts and investments paints a picture of a potentially transformative period for those involved in the Dinar market. As the situation unfolds, investors are encouraged to stay informed, engaged, and ready to capitalize on the opportunities that may arise.
Shafaq News / The Iraqi Ministry of Electricity and General Electric (Vernova) announced on Wednesday the completion of extensive updates in a number of major power plants, which enhances the performance and efficiency of existing generating units in preparation for the summer season.
These projects are part of the ministry’s efforts to modernize the electrical infrastructure and increase the stability of the network to meet the growing demand for energy, in line with Iraq’s strategy to secure more electricity, switch to more sustainable energy and reduce the intensity of carbon emissions.
According to a statement from Shafak News Agency, one of the projects includes the modernization of 46 gas turbines in 12 power plants, contributing to the addition of more than 500 megawatts to the national network by the summer of 2025.
According to the statement, these updates are expected to enhance operational flexibility and significantly increase generation efficiency. The modernized plants included Nineveh, Diwaniyah, Hilla, Karbala, Shatt Basra, Najibia, Samawa, Dhi Qar, Al-Khayrat, and Al-Haydiriyah, where their operation was converted from heavy fuel to natural gas, which contributed to the addition of 260 MW of generating capacity already, and maintenance and upgrades in other plants are expected to contribute to adding a generating capacity of up to 250 MW after completing updates before the summer of 2025.
In another project, the Ministry confirmed the completion of the “Advanced Hot Gas Track” (AGP) update on the E9 class gas turbines at the Jerusalem and Dhi Qar and Qayara terminals and the MXLII update at the Mansouria station on the 13E2 class gas turbines. This upgrade is expected to achieve an increase in generating capacity of up to 6% per station, allowing the production of more energy using the same fuel quantities.
The Iraqi Ministry of Electricity pointed out that General Electric (Vernova) has completed various comprehensive maintenance projects to ensure the readiness of about 3.7 GW in major stations such as Al-Qayyara, Diwaniyah, Al-Haydriyah,
and southern Baghdad. These projects come within 5-year service and modernization agreements that have been announced in advance, and aim to ensure the readiness and stability of the national network in the long term.
In this regard, Iraqi Minister of Electricity, Ziad Ali Fadel, said that “these diverse and comprehensive projects represent a pivotal step towards strengthening the capabilities of the electricity sector in Iraq, especially in the peak seasons.”
Fadel added, according to the statement, that “improving the efficiency of generation plants and increasing production without increasing fuel consumption reflects the ministry’s commitment to developing the national network in partnership with international companies such as General Electric Vernova.”
For his part, Joseph Annis, President and CEO of General Electric Vernova for the Europe, Middle East and Africa region, expressed his pride in supporting the electricity sector in Iraq through an ongoing partnership with the Ministry of Electricity.
According to the Iraqi Electricity Statement, Anis pointed out that “the completion of these projects according to the schedule contributes to enhancing the efficiency and sustainability of generation units in line with the Iraqi government’s vision in the energy sector.”
Earlier last year, General Electric Vernova announced the operation of six 132 kV power conversion stations ahead of schedule, the latest of which was the Rusafa center conversion station on November 18, 2024, more than two months before the scheduled time.
During April 2024, the Iraqi government and General Electric Vernova signed memorandums of understanding under the auspices of Prime Minister Mohammed Shia Al-Sudani in Washington on the sidelines of his visit to the United States of America, in the presence of Deputy Prime Minister for Energy Affairs and Oil Minister Hiyan Abdul Ghani, and Chief Executive Officer of Government Affairs and Sustainability at General Electric Vernova,
Roger Martella.
General Electric Vernova has contributed significantly to supporting the electricity sector in Iraq over the past decade, adding 19 GW to the national network, building and operating 30 power conversion plants, and contributing to the project to connect the Iraqi electricity network with the Hashemite Kingdom of Jordan.
In addition, GE facilitated Iraq’s access to more than $3 billion in financing to support energy projects, and continued to invest in training Iraqi manpower and developing local cadres
