The Undersecretary of the Ministry of Oil for Extraction Affairs, Bassem Muhammad Khudair, confirmed on Sunday that the ministry will receive about 185,000 barrels per day from the Kurdistan Region as a first stage after the resumption of oil exports through the Turkish port of Ceyhan, while noting that the quantity is gradually escalating to 400,000 barrels per day.
Khudair said in a press statement: “The suspension of exports from the Kurdistan region during the past period caused a problem for the oil fields in the region, and it takes a period of rehabilitation to restore its production capacity, in order to reach the export of 400,000 barrels per day, which is the minimum quantities prescribed in the budget.” He added that “the amount currently available for export in the region is 300,000 barrels per day, part of which is intended for internal use, while the remaining 185,000 barrels will be allocated for export.” He pointed out that “the past period witnessed the visit of a delegation from the Ministry of Oil to the region, and it was agreed to form joint committees to follow up the mechanisms for the resumption of oil export,” explaining that “we were informed by the region of its readiness to start the export process.” He continued: “The technical teams of the North Oil Company and representatives of the Kurdistan Region are working to inspect the oil export pipelines and ensure their validity and readiness to resume oil pumping through them.”
Khudair stressed that “the Ministry of Oil has addressed the Turkish side to inquire about the readiness of the pipe intended for export through the port of Cihan, and we are waiting for the answer within the next 24 hours.” He also stated that “the ministry is keen to maintain export operations through the port of Ceyhan as part of a strategic vision for the relationship between Iraq and Turkey, and there is continuous communication with the region and the Turkish side to ensure continued cooperation and export.”
The negotiation delegation of the Kurdistan Regional Government announced earlier on Sunday that it “the promise of communication and coordination between the Federal Ministry of Oil and the Ministry of Natural Resources of the Kurdistan Region, it was agreed and confirmed to resume the export of the region’s oil according to the available quantities.”
The statement added, “A joint technical team was formed today to inspect the export pipe and indicate its readiness. In this regard, we emphasize our commitment to implement the provisions of the Federal Budget Law.”
No new US currency called USTN has been officially announced by the US Department of the Treasury...A new US currency USTN...has been debunked as a false claim. Seriously, this has been a roll-a-coaster ride and none of us are in need of more Dinar Mythology!
There are no redemption centers, no 800 numbers, no notifications, no USTN, no contract rates, no bank is coming to your house to exchange your currency, no $75 IQD, no $2 VND,
no 6000 redemption centers, and no bonds! Get a grip. This will be a no fanfare, no crowds, no public announcement, quiet event. Calm down and don't fall for this foolishness. The RV will not be televised!
Iraq is witnessing An important shift in its economic strategy, as the government is moving towards diversifying sources of income and strengthening non-oil sectors, with the project to localize precious metals among the most prominent projects on this path.
And decided The Council The Industrial Coordination Committee on February 16th localized the manufacture of precious metals, including gold and jewelry, in addition to cosmetic products, with a focus on providing all necessary facilities for those wishing to establish their own factories.
And occupiesIraq28th place globally and 4th in the Arab world – after Saudi Arabia Lebanon and Algeria – in the classification Countries The highest gold reserves in the world, according to The Council Global For gold.
According to the latest table published by the Council, “Iraq raised its gold holdings to 162.7 tons, representing 12.7% of its total other reserves.”
The Central Bank also resolved Iraqi Ranked first in the Arab world and seventh globally on the list of banks Central Most purchased gold in 2024, according to the Gold Council data Global The volume of purchases reached Iraq About 20 tons of gold.
A qualitative leap, confirmed Abdul Hassan Al-Ziyadi, a member of the Businessmen Union Council. Iraqi The new government’s plans in the industrial field, especially its orientation towards localizing precious metals, will represent a qualitative leap for Iraq, and will enable it to achieve leaps at the level of Global In the field of investment.
Al-Ziyadi said that the project of localizing precious or rare materials, or the rare metals industry, is one of the successful projects in Iraq, because the land Iraq It contains sufficient and surplus raw materials to launch such projects.
He pointed out that Iraq It has rare and precious resources, and is one of the good and fruitful spots for gold, and other projects such as phosphate, and other precious metals, especially in Anbar Governorate.
Al-Ziyadi explained that Iraq He began to think about using these resources and supporting the localization project to develop and benefit from it, stressing that the current government is ready to work and develop the work of its institutions, and direct it towards investment and encouraging investments.
He pointed out that Iraq He began to think about building economic institutions of good benefit, and he also began to think about the precious metals that he could exploit to develop his economy.
Huge wealth awaits investment and is considered Iraq A country rich in its diverse mineral resources, as these resources are spread across its various governorates, and Anbar Governorate is the richest governorate in this field. *According to the Iraqi Phosphate General Company, affiliated with the Ministry of Industry, surveys have revealed the availability of huge and confirmed reserves of phosphate amounting to about two billion confirmed and unexploited tons, with unconfirmed quantities that may exceed 7 billion tons. *Iron ore, as its presence is particularly concentrated in the desert southwest of Anbar, where the underground reserve is estimated at about 60 million tons. *Anbar governorates also have a large reserve of uranium in the Akashat area within the phosphate layer formations in the Western Desert. *Anbar’s mineral resources do not stop there, as silica is concentrated in the Western Desert region, and appears in the form of layers of white sand, where the reserve amounts to about 75 million tons. *As for gold, it is found in the governorates of Anbar and western Nineveh. * Huge quantities of sulfur are concentrated in Anbar, Salah al-Din and Nineveh, and the reserves are estimated at more than 600 million tons. * As for sodium sulfur, it is widespread in Salah al-Din Governorate and the general reserve is estimated at about 22 million tons.
* As for quartzite, it is widespread in the Rutba area in Anbar and its reserves are estimated at about 16 million tons. * Celestite (strontium sulfur) is widespread in the governorates of Najaf and Karbala, where it appears in the form of sandy rock lenses, and the country’s reserve is estimated at about 0.8 million tons that are not exploited. * Glass, its presence is concentrated in Anbar Governorate in the form of shiny surface sand in the plains and plateaus, and the existing quantities are estimated at about 400 million cubic meters. * Lead is found in the governorates of Dohuk and Sulaymaniyah in the Kurdistan Region in the form of sedimentary carbonate rocks, and the reserve is estimated at more than 50 million tons. *Statistics indicate the presence of dolomite in the provinces of Anbar and Muthanna, where the country’s reserves are estimated at about 330 million tons. *As for gypsum, it is concentrated in Nineveh, Kirkuk and Salah al-Din, and its reserves are estimated at about 130 million tons. *Lime is found in Anbar, Muthanna, Najaf, Nineveh and Kurdistan, and its reserves are estimated at about 8 thousand million tons. *Silver is found in the regions of Kurdistan Iraq Within volcanic rocks. * Bauxite is concentrated in Anbar, and its reserves are estimated at about one million tons. * Feldspar sands are concentrated in Najaf Governorate, and its reserves are estimated at about 2.3 million tons. * Quartz is concentrated in Anbar and the city of Faw, located on the waters of the Arabian Gulf in Basra, where its reserves are estimated at about 855 million cubic meters. * As for copper, it is found in Sulaymaniyah Governorate, and its volume estimates vary between 10 and 20 million tons.
Reducing the exit of currency To talk about the extent of the decision’s impact on the market, economic expert Salah Nouri believed that it is too early to determine the level of prices and quality for the gold and jewelry industry, because the Cabinet’s decision has not yet begun to be implemented.
Nouri explained that importing gold and precious metals constitutes a high percentage of total imports, and therefore this decision will contribute to reducing the exit of foreign currency (dollar) from the country, noting that the Ministry of Trade has been tasked with facilitating the import of raw materials for manufacturing purposes in coordination with the Central Bank.
He added that the manufacture of gold and jewelry inside Iraq It is supposed to make its local prices lower than its import price, warning that this industry may face the risks of fluctuations in global gold prices, which may in turn affect the stability of the local market.
Diversifying budget resources Government advisor Alaa Al-Fahd confirmed that activating the precious metals localization sector will have an effective role in bringing out Iraq From total dependence on oil as a major source of budget revenues.
Al-Fahd said that Iraq Today, it has the ability to diversify its sources of income by localizing the precious metals industry, which will have a positive impact on the economy. Iraqi By diversifying revenues and activating this vital industry, noting that Iraq He has large reserves of gold that can be exploited in local manufacturing instead of importing ready-made gold jewelry from abroad.
Al-Fahd explained that Iraqi lands are rich in many undiscovered precious metals, and that these potential discoveries will directly contribute to increasing reserves and diversifying the economy, stressing that this requires conducting economic feasibility studies to determine the extent of the impact of these minerals and activating the industry.
He stressed that the matter is not limited to owning these minerals, but rather requires developing realistic plans to activate these industries and develop the economy, stressing that paying attention to these industries and localizing them in Iraq, in addition to providing facilities and attracting foreign investments, will have a direct impact on the economy Iraqi Al
-Fahd pointed out that this requires a government decision, and that this decision is available today, and it is a message to attract development investments in this field to activate the mining industry in Iraq, especially since there is a basis and ownership of these natural resources that can be exploited to strengthen the economy.
He explained that supporting the budget by activating this sector is inevitable, as any industry will contribute to raising production capacities and increasing production, which leads to the development and activation of the industry, pointing out that Iraq These transformation industries are needed to exploit the available infrastructure for minerals.
Al-Fahd explained that all opportunities are available today for investment in this field, and that investment in this sector is no less important than investment in any other sectors that contribute to developing the economy and supporting the budget, especially in light of the fluctuations in oil prices, stressing the need to search for alternative sources of income and revitalizing the industrial, agricultural and tourism sectors.
Al-Fahd stressed that these sectors can contribute effectively to achieving revenues and diversifying the economy, indicating that Iraq He should follow suit. Countries The Arab and Gulf countries have emerged from their dependence on oil and have begun to stimulate other industries and develop their natural resources.
FIREFLY:There's an economic expert on the television...He's asking us Iraq citizens some questions regarding the exchange rate of our currency...He went on for 20 minutes talking about the pros and cons [of what we're about to do] and he reminded us that at one time the dinar was $3.30..
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Then we see new information commercials talking about the new national bonds...
Mr Sammy says this is another way to get the citizens to bring in their 3 zero notes that many are hoarding in the their homes.
FRANK: They are pushing the idea to buy the bonds. They'll use their 3-zero notes...The push to bring in as many 3-zero notes as possible is also another loud indicator of a change that's coming...
The Ministry of Trade announced the launch of the ration card automation project in Baghdad next Tuesday, to be followed by the governorates of the Kurdistan Region, noting that the project will complete the procedures for 32 million Iraqi citizens in the coming few days. The
ministry’s spokesman, Mohammed Hanoun, said in an interview followed by “Mawazine News”: “The ministry had previously launched the automation project in the governorates of Wasit and Salah al-Din as a first step, and these governorates are achieving advanced rates of completion and are close to completion. After that, we launched the project in 4 governorates: Maysan,
Diwaniyah, Anbar and Diyala. The project is witnessing a great turnout from citizens, and approximately 180-230 thousand people complete the automation of their cards daily.” He added, “The ministry will launch the automation project in Baghdad Governorate next Tuesday, after we completed the project in 6 governorates with 8 and a half million citizens. Now we are heading to launch it in Baghdad and we expect to reach the completion of the automation of 32 million citizens in the coming few days.” He added, “After a week or two in Baghdad Governorate, we will launch the project in the governorates of the Kurdistan Region, and there is cooperation with the regional government in this matter, and after the governorates of the region, it will be launched in Basra, Dhi Qar and Muthanna,” noting that “the ministry aspires to complete the automation project in all cities of Iraq by next June if no technical problems arise that require extending the period.”