ABU SNWE
In the coming days, we will witness the announcement of the fully bankruptcy of the Iranian economy.
Please do not trust any bank inside Iran for deposits.
Banks and exchange offices are still closed.
وفي الايام القادمة سنشهد اعلان افلاس الاقتصاد الايراني بالكامل الرجاء عدم الثقة باي بنك داخل ايران للودائع
لا تزال البنوك ومكاتب الصرافة مغلقة.
10:41 AM 2/9/25
Oil Ministry announces a cooperative plan to develop Kirkuk fields with British Petroleum
INA- Baghdad
The Ministry of Oil revealed, on Monday, a joint program with British Petroleum to develop Kirkuk oil fields, indicating that the current gas production amounts to about 3,200 million standard cubic feet per day.
The Undersecretary of the Ministry, Ali Maaraj, told the Iraqi News Agency (INA): "The ministry continues to implement its strategy aimed at developing oil fields, processing gas, and achieving self-sufficiency in petroleum derivatives by modernizing and establishing modern refineries."
He added, "There is a joint program with British Petroleum to develop and invest in oil fields in Kirkuk Governorate, as technical and contractual talks are currently underway to conclude a memorandum of understanding between the North Oil Company affiliated with the ministry and the British company."
He explained that "the profit-sharing contract is currently the most appropriate, as it achieves profits for both parties, and British Petroleum is moving in this direction," expressing his hope "to reach a final technical and contractual agreement soon."
Regarding gas production, he noted that "current production is about 3,200 million standard cubic feet per day, 60-65% of which is invested, while the remaining amount is burned."
He pointed out that "it is planned to reach zero burning within five years, through the implementation of strategic projects to invest in associated gas," stressing that "these projects will continue in parallel with development, exploration and production operations to ensure maximum benefit from gas resources."
Sandy Ingram
For Iraq, non-oil revenues which include taxes, customs and earnings from sectors outside hydrocarbons, rose to nearly 12% of total revenues in the first 9 months of 2024 up from about 7% before the approval of Iraq's landmark 3-year budget in 2023...
The rise in non-oil revenues is attributed to increased import customs, expanded taxes and contributions from the housing, transport and construction sectors.
The Ministerial Council: Maximizing revenues, confronting economic and financial crises
INA - BAGHDAD - LIVE UPDATES
The Ministerial Council for the Economy discussed on Monday maximizing revenues and confronting economic and financial crises.
The Council decided to complete the work of the committee specializing in studying the import of cars and adding representatives from the General Traffic Directorate, the Ministry of Trade, the Ministry of Construction and Housing, and the Ministry of Environment, stated the Council in a statement - received by the Iraqi News Agency - INA.
Deputy PM and Minister of Foreign Affairs Fuad Hussein chaired the fourth session of the Ministerial Council for the Economy, which was held in the presence of the Deputy PM and Minister of Planning, the Ministers of Trade, Agriculture, and Industry, the Secretary-General of the Cabinet, the Chairman of the Securities Commission, the Undersecretary of the Ministry of Oil for Extraction Affairs, the Deputy Chairman of the National Investment Commission, and the PM's Advisors for Economic and Legal Affairs.
The council discussed "the items on its agenda and took the necessary decisions regarding them, in addition to some items of the draft submitted by some of its members regarding maximizing revenues and confronting economic and financial crises that may occur due to political and economic changes in the region and the world, especially with regard to the estimations of state real estate for the purposes of sale or rent, and following up on the collection of revenues for various state departments, in addition to emphasizing the decision of the Cabinet to use electronic collection."
The statement continued, "The council also decided to authorize Salah al-Din Governorate to implement the trust and direct contracting of projects that were previously studied, in a manner that does not conflict with the budget law and the applicable instructions."
The council also decided to "complete the work of the committee specializing in studying the import of cars and add representatives from the General Traffic Directorate, the Ministry of Trade, the Ministry of Construction and Housing, and the Ministry of Environment."
They decided "to commit all parties to the approved agricultural plan, as well as mobilize all ministries to give their available warehouses to the General Company for Grain Trade, for the purpose of storing wheat received from farmers for the next season, with the coordination body of the governorates being contacted regarding the allocation of suitable lands in those governorates, in order to establish warehouses for the company silos to store wheat marketed by farmers."
The council also "decided to include chicken, cuts and processed products in the agricultural calendar, provided that the Ministry of Agriculture provides accurate data on the local cut chicken industry and processed products and the extent of their coverage, due to the need of the local market, to the Ministerial Council for the Economy."
Frank26
[Iraq boots-on-the-ground report]
FIREFLY:Mr Sammy says we have made it to the finish line. We just need to cross it now.
FRANK: I tend to agree with you Mr. Sammy. I use the example of Neil Armstrong waling down the ladder of the lunar module. He has one foot on the step of the ladder but the other foot is already touching the surface of the moon...We are simply waiting for the other foot to also touch the surface.
Read also: Bank appointment for Currency EXCHANGE Instructions/Checklist
