Friday, March 7, 2025
Parliamentary Committee Calls on Government to Refer Oil and Gas Law to Parliament Immediately, 7 MARCH
Parliamentary Committee Calls on Government to Refer Oil and Gas Law to Parliament Immediately
The Deputy Chairman of the Parliamentary Oil and Gas Committee, Adnan Al-Jaberi, called on the government today, Thursday, to expedite the referral of the Oil and Gas Law to the Council of Representatives, stressing that its legislation is an essential step to regulate the management of oil wealth and ensure the fair distribution of revenues between the federal government and the producing regions and governorates.
Al-Jaberi said in a statement to / Al-Maalouma / agency, that "the legislation of the Oil and Gas Law is a necessary step to regulate the management of oil and gas wealth in Iraq," noting that "this law will contribute to guaranteeing the rights of the producing regions and governorates, in addition to developing a clear strategy for investing these resources in the long term."
He explained, "The law will protect oil wealth from different interpretations and interpretations, whether in the Kurdistan Region or in the producing governorates, and will work to resolve the existing differences between the federal government and the regional government, and control the relationship between the producing governorates and
the center."
He pointed out that "Article 112 of the Iraqi Constitution stipulates the necessity of regulating the oil and gas sector through the enactment of a special law, but the lack of a common vision and agreement between the federal government and the Kurdistan Region, as well as between the producing provinces and Baghdad, has prevented its approval so far.
" He stressed "the importance of reaching a consensus that guarantees the rights of all parties," calling on the government to "refer the law to the Council of Representatives as soon as possible to ensure the fair and equitable regulation of oil revenues."
It is noteworthy that the approval of the oil and gas law was delayed for several parliamentary sessions due to political differences that prevented reaching a consensus on it. link
FIREFLY: The United States of America is totally supervising all financial transactions, 7 MARCH
Frank26
[Iraq boots-on-the-ground report]
FIREFLY: Television saying the United States of America is totally supervising all financial transactions. Your US Treasury is supervising all financial transactions in Iraq and the US Treasury is aware of all the money and where it goes in Iraq...
FRANK: That is the beauty of your security and stability where it's at right now.
It is so powerful. In my strong opinion they are aware of the new exchange rate. If not, they would not be this heavily involved right now...
Development And The Unit Of Funds, 7 MARCH
Development And The Unit Of Funds
Economic 2025/03/06 Abdul Zahra Muhammad Al –Hindawi Iraq may be unique and not other countries in the multiplicity of development funds, which are very similar in their tasks, but each of them has a geographical space, which works to cover it, with the exception of two of these funds,
which are both the Iraqi Fund for Development, which is concerned with creating an attractive investment environment, especially in what is related to the health and education sectors, as a priority and then the rest of the sectors come, and
the second is the social fund For development, which is concerned with targeting the poorest villages and areas, by providing basic services, by implementing small projects, such as building schools, health centers, providing water and electricity networks, and road paving.
As for all other funds, which are the Emaar Fund, which is affected by terrorist acts and military operations, the Sinjar Emaar Fund and the
Nineveh Plain, the Emaar Dhi Qar Fund, the Penis, the Termis' Emaar Fund, and the Samarra Fund, the capital of Iraq for Islamic civilization.
If we had a look at the tasks and work of these funds, we would have found a great similarity between them, this similarity may sometimes cause an intersection with other programs, foremost of which is the regional development program, which is carried out by local governments in the governorates, and the investment program implemented by the federal ministries in all governorates.
On the other hand, no one denies that these funds are a work on the ground, as they have succeeded in implementing many investment and service projects, according to the geographical area of each of them.
Certainly, each of them has good annual financial allocations, to finance the projects they implement, and
here comes the area of the question that represents the title of the title of this article,
what happens if we intentionally unify all these boxes in one box??, and
for example, the Social Fund for Development, which is the oldest of the foundations found, and was able to implement small projects in more than 500 villages spread in 18 governorates, according to philosophy, according to philosophy, according to philosophy, according to philosophy, according to philosophy, according to the philosophy of New and different depends on the principle (planning from the bottom up to the top) in the sense that the local community
is the one that defines the priorities of the projects that the region needs, according to the criteria for the need in the covered village.
There is no doubt that the union of these funds in one box, starting, will help the planning to draw a clear-cut image, with specific dimensions and paths, in addition to that the financial allocations will be very good that support project financing at a comfortable manner, and this will be an integration with other programs, and here the development will witness a good boost, in all sectors .. right? https://alsabaah.iq/111232-.html
AJ : 🛢️Experts: Sufficient oil supply and spare capacity within the OPEC+ group will be enough to keep prices in the low $70s per barrel.,7 MARCH
AJ
Crude Oil Analysts Outlook - 2025
Experts: Sufficient oil supply and spare capacity within the OPEC+ group will be enough to keep prices in the low $70s per barrel.The four dozen analysts participating in the Reuters poll last week saw Brent Crude prices averaging $74.63 per barrel in 2025.
Analysts: Tariffs could undermine the growth plans of many businesses, and the economy is likely to slow down.
Oil prices will likely remain around current levels or even lower this year, analysts and economists in the monthly Reuters poll said last week.
Sufficient oil supply and spare capacity within the OPEC+ group will be enough to keep prices in the low $70s per barrel, the experts said.
Supply shocks would be balanced out with the 5 million barrels per day (bpd) of spare capacity that OPEC+ currently has, mostly within the Middle Eastern producers in OPEC.
Major trade and geopolitical developments since last week are likely to put additional downward pressure on oil prices—the tariffs on Canada and Mexico and the higher tariff on Chinese imports into the U.S., and the possibility of some eased sanctions on Russia.
The four dozen analysts participating in the Reuters poll last week saw Brent Crude prices averaging $74.63 per barrel in 2025, slightly higher compared to the forecast of $74.57 in January. For WTI Crude, analysts expect an average 2025 price of $70.66 per barrel, up from $70.40 in January.
t the time the survey was carried out, oil prices were more or less trading around these levels.
But early this week, oil slumped after the Trump Administration confirmed that tariffs on Canada and Mexico are going ahead as planned on March 4, and the tariff on Chinese goods is lifted to 20% from 10%. Canada and Mexico tariffs are at 25%, with Canadian energy facing a lower, 10%, import tariff. Now April
Economic Fallout from Tariffs
On the first trading day of March, major Wall Street indexes turned sharply lower after the Trump Administration announced that the tariffs on Canada and Mexico, and higher levies on China are going into effect on Tuesday.
The rally in the weeks since November has been largely due to hopes that the Trump Administration would boost U.S. businesses and the economy.
But tariffs could undermine the growth plans of many businesses, and the economy is likely to slow down, analysts say.
A weakening economy, the world’s largest at that, could dampen oil demand in the U.S. and globally—that’s why the market hasn’t been very bullish about oil prices in recent weeks.
Amid all the tariff noise, forecasters have not downgraded—yet—their estimates of global oil demand growth this year. Demand is generally expected to rise by between 1 million bpd and 1.4 million bpd, with OPEC being the most bullish with 1.4 million bpd growth projection for both 2025 and 2026.
The “healthier oil market outlook”, OPEC said on Monday, allowed the OPEC+ producers to “proceed with a gradual and flexible return of the 2.2 mbd voluntary adjustments starting on 1st April, 2025, while remaining adaptable to evolving conditions.”
Initially, OPEC+ will return 138,000 bpd to the market in April, the group confirmed this week, but noted that the increase may be paused or reversed subject to market conditions.
The gradual return of OPEC+ supply and the expected non-OPEC+ output growth this year are set to keep oil from price spikes, analysts say.
The U.S. “maximum pressure” campaign on Iran with the goal to reduce Iranian oil exports to zero could be offset by lower demand growth in case of economic downturn and potential easing of some U.S. sanctions on Russia as the Trump Administration pivoted from supporting Ukraine to siding with Moscow about possible pathways to end the war.
Risk-Off Oil Market Sentiment
With all the unknowns about the tariff fallout on economies and oil trade flows due to sanctions being tightened on some and eased on others, money managers and other hedge funds are currently in a risk-off mood and are dumping bullish positions in the two most traded petroleum futures contracts, Brent and WTI.
In the week to February 25, selling of crude oil was “particularly aggressive,” Ole Hansen, Head of Commodity Strategy at Saxo Bank, said on Monday in a commentary on the latest Commitment of Traders report.
The U.S. benchmark contract, WTI Crude, saw the biggest selling spree, not only in the latest reporting week, but also in the past five weeks.
The net long position – the difference between bullish and bearish bets – in WTI slumped to the lowest level in nearly 15 years, at 67,600 contracts at end-February, down from 250,000 contracts hedge funds held as of January 21.
During this five-week period, the combined net long in WTI (CME and ICE) and Brent has almost halved to 260k contracts, as the technical outlook continued to deteriorate amid worries about a global trade war’s impact on demand and OPEC+ considers when to start tapering production cuts,” ---------
IMO - WAIT AND SEE Trump pushed tariffs out to April in line with OPEC's increase production
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