SOMO: Iraq Exports More Than 4 Million Tons Of Oil Derivatives In 3 Months, 4 MARCH

 SOMO: Iraq Exports More Than 4 Million Tons Of Oil Derivatives In 3 Months

Energy  Economy News – Baghdad  The State Oil Marketing Company (SOMO) announced the export of 3 petroleum products, amounting to more than 4 million tons of petroleum derivatives, during the fourth quarter of 2024.

SOMO said in its tables, which were reviewed by Al-Eqtisad News, that "Iraq exported 4 million, 465 thousand, and 749 tons of oil derivatives from October until December 2024."

The company added that "Iraq exported fuel oil in the amount of 4 million, 216 thousand, and 145 tons in the fourth quarter of 2024, compared to the same period in 2023, in which fuel oil exports amounted to 2 million, 796 thousand, and 606 tons."

According to the tables, "Iraq also exported 194,637 tons of naphtha," noting that "jet fuel was also exported in an amount of 54,967 tons."

Naphtha is an intermediate intended either for the petrochemical industry (such as ethylene manufacturing or aromatics production) or for the production of gasoline by reforming or isomerization within the refinery.   https://economy-news.net/content.php?id=53072

ARIEL : The revaluation of the Iraqi Dinar is for the 'New Republic'!!, 4 MARCH

 ARIEL

G', it's almost like I have been telling people that the revaluation of the Iraqi Dinar is for the 'New Republic' that basically starts on March 4th with an address from the president on that day with Kurdistan & Baghdad signing remaining paperwork and resuming oil exports through SOMO. Why out of all these years you have been waiting that they decided to have this meeting on the exact day of the original inauguration day? Why do you think Donald Trump is closing 100s of IRS offices? Because he doesn't want your capital gains going towards an agency that will not exist after 2025. I told you all and I will say it again D. Trump is going to put his foot down on March 4th. After that day you might as well prepare for the fallout. Because it's going to come fast. Corruption will be boxed in and have no choice but to show itself for the beast it is. And as I explained once the IQD reinstatement occurs Israel will become a shell of its former self. Peace in the Middle East will expose the the domestic terrorist in our media, government, and banking industry.

A2ZANGELA : Iraq has officially published the Restitution Law @DINARREVALUATION #iraqidinarinvestor

 

Mazhar Saleh: Geopolitical controls push towards switching to official channels for currency trading, 4 MARCH

 Mazhar Saleh: Geopolitical controls push towards switching to official channels for currency trading

Mazhar Mohammed Saleh, the financial adviser to the Prime Minister, stressed that the geopolitical controls imposed on informal trade contribute to expanding dealing with official outlets of foreign currency, which contributes to financing foreign trade through the sober international financial system

He pointed out in his speech to {Euphrates News} that “this shift aims to move away from informal financing from the parallel market to the dollar intensively, especially with changing the behavior of small traders in avoiding the parallel market associated with the problems of regional and geopolitical countries.”

Saleh added that “this transformation comes in the context of the importance of rising foreign reserves for Iraq and confronting money smuggling operations, as well as facilitating external transfers through Iraqi banks that deal with international banking correspondents, at an official exchange rate of 1,320 dinars per dollar.”

He also stressed that the end of the compliance platform phase adopted by the Central Bank of Iraq in the past two years and the country’s entry into a new stage have contributed to providing great flexibility in financial transfers through official channels.

https://alforatnews.iq/news/مظهر-صالح-ضوابط-جيوسياسية-تدفع-نحو-التحول-إلى-القنوات-الرسمية-لتجارة-العملة

🚨 MAJOR UPDATE: Kurdistan Oil 🚨, 4 MARCH

  MAJOR UPDATE: Kurdistan Oil

Iraq’s Oil Ministry is calling

@apikur_oil

& KRG to Baghdad for a big meeting on March 4, 2025!

Despite some oil flow, 8 Kurdistan oil producers (including #GKP) REFUSE to restart exports until a fair deal is reached!

Kurdistan oil exports have been halted since March 2023—this could be the turning point!

Big moves coming for oil stocks?

TRANSFORMATIVE EFFORTS DURING THIS 2024 YEAR THAT MARK THE BEGINNING OF A GOLDEN ERA IN IRAQ

 

Iraq and IMF announce new steps to strengthen national economy, 4 MARCH

 Iraq and IMF announce new steps to strengthen national economy

Wawazine News – Economy

The Iraqi Ministry of Finance announced on Sunday the results of the meetings that took place with the International Monetary Fund in the Jordanian capital Amman, where it was agreed to intensify efforts to expand cooperation with foreign correspondent banks, in a move aimed at enhancing financial stability and supporting the national economy.


A statement issued by the ministry, received by Mawazne News

The Iraqi delegation, headed by Finance Minister Taif Sami Mohammed and the Governor of the Central Bank of Iraq, concluded its meetings with the International Monetary Fund from 24 to 26 February 2025, where Iraq’s economic performance and prospects for sustainable growth were discussed, indicating that the progress achieved in various economic sectors was assessed.


The statement pointed out that the discussions focused on macroeconomic indicators, as a significant growth in non-oil GDP of 5% was recorded for 2024, supported by the expansion of the agricultural sector and increased public spending, indicating that growth was expected to continue by 3.5% in 2025, reflecting an improvement in economic diversification and reducing dependence on oil, which enhances the stability of the national economy.


The modernization of the public debt strategy was also discussed, stressing the importance of developing the banking sector to support investments and attract foreign capital, contributing to improving financial stability.

The International Monetary Fund stressed its support for Iraq in developing fiscal policies by providing consultants and experts to help the ministry manage public debt and improve the tax system.


Within the framework of promoting financial stability, it was agreed to intensify cooperation with foreign correspondent banks, which contributes to facilitating foreign trade financing and promoting the use of the Iraqi dinar in major transactions.


In conclusion, the statement stressed that the meetings confirmed the continued progress in financial and economic reforms, reflecting the commitment of the Iraqi government to achieve financial sustainability that supports development and drives investment, in light of an ongoing strategic partnership with the International Monetary Fund.

https://mawazin.net/Details.aspx?jimare=259926