Tuesday, March 4, 2025
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.
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.
🚨 MAJOR UPDATE: Kurdistan Oil 🚨, 4 MARCH
MAJOR UPDATE: Kurdistan Oil
Iraq’s Oil Ministry is calling & 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? 
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