Data Confirms Iraq's Pivotal Role In The Global Oil Market, 28 MARCH

 Data Confirms Iraq's Pivotal Role In The Global Oil Market

Buratha News Agency1412025-03-26  SOMO today explained the importance of Iraqi oil and its vital role in global markets, while indicating that Iraq has the fourth largest proven oil reserves in the world, at approximately 145 billion barrels. SOMO emphasized the advantages of Iraqi oil, explaining, 

“Global crude oils are classified and their quality is determined based on their API (specific gravity) and sulfur content. Iraqi crude oil produced on this basis is classified into (medium and heavy crude oil) based on its specific gravity. 

It has a high sulfur content for both types, according to the sulfur content standard. It is considered a crude oil with specifications (required globally), and is compatible with the operational plans of refineries that wish to produce specific products according to their needs.”

She explained that "among the advantages that help attract buyers are the significant and growing demand for medium and heavy crude oils, stable production, and the availability of large, stable quantities that ensure long-term supply contracts for these refineries. 

The geographic location and low shipping costs make Iraqi oil a favorite in the Asian market, in addition to the fair, competitive price based on market fundamentals."

The company continued, "Iraq ranks fifth in the world in terms of oil production, with an output of approximately 4.27 million barrels per day, making it the second-largest producer in OPEC after Saudi Arabia. Iraq also has the fourth-largest proven oil reserves in the world, at approximately 145 billion barrels."

She pointed out that "this ranking reflects Iraq's vital role in global oil markets, as it contributes significantly to meeting global energy demand. Marketing-wise, Iraqi crude oil is considered an important oil with a good market reputation, as it is relied upon by many global refineries in their refining operations and there is relatively high demand for it."

 She added, "Iraqi crude oil is in global demand for refineries in several countries, as Iraqi crude oil is exported exclusively to companies that own refineries, but most of the companies to which Iraqi crude oil is exported are Asian companies, the most important of which are China and India, at a rate of approximately 70%, and approximately 30% for the other two markets, European and American combined."

She also pointed out that "OPEC and OPEC+ policies determine production levels, which are reflected in global prices, impacting the buying and selling of Iraqi crude oil. The greater the production restrictions, the higher the prices and the lower the quantities sold, and vice versa. These policies also impact the market share and financial returns."   https://burathanews.com/arabic/economic/458057

REINALDO JC : IRAQ STATUS, 28 MARCH

 REINALDO JC

IRAQ Now that the Council of Minister (COM) has the schedules {which will quickly get approved}. Thereafter….

Iraq Parliament will receive the 2025 budget tables/schedules AFTER the RATE CHANGES or SIMULTANEOUSLY (imo).

MAJEED

The Minister of Planning announces the completion of the 2025 budget tables and their submission to the Council of Ministers. Minister of Planning: The budget tables do not include any new projects, but they do include funding for ongoing projects.

TEXAS SNAKE: Again I ask all to remain on alertannouncement is at any moment!! @DINARREVALUATION

 

Iraq establishes “special company” to manage Development Road Project, 28 MARCH

 Iraq establishes “special company” to manage Development Road Project

Shafaq News/ Iraq has established a “special company” to manage the Development Road Project, Prime Minister Mohammed Shia Al-Sudani’s media office stated on Thursday.

According to the statement, the PM presided over the Higher Committee for Monitoring the Implementation of the project's second meeting in a week to review progress and assess directives from the previous session.

During the meeting, the committee approved the Iraq Development Fund’s initiative to establish the company. Plans are also underway to form a dedicated regulatory body for the initiative.

Additionally, the committee finalized interim governance regulations governing cooperation between Iraq and Turkiye on the project. Al-Sudani instructed consulting firm Oliver Wyman to hold a joint meeting with Iraqi and Turkish officials to finalize these regulations.

FIREFLY: They're talking about oil revenues to the citizens, 28 MARCH

 Frank26   

[Iraq boots-on-the-ground report]  

FIREFLY:They're talking about oil revenues to the citizens.  

They have not talked to us about our oil in quite a while.  In fact, what they're talking about has not been brought to us since 2018 when they said we have a special card just for this.  Now all of a sudden we are now hearing this again today. 

  FRANK:   Those cards are basically HCL cards.  If they're talking to them about it?  There's so many things pointing in one direction. 

 FIREFlY:  This is obviously the HCL coming to us because of a new exchange rate soon.  FRANK:  IMO this is the preparation for the HCL that is about to be given to you because of that new exchange rate.

FIREFLY: The United States of America is totally supervising all financial transactions #iraqidinar

 

FRANK26: "THE PINNACLE OF SECURITY & STABILITY FOR THE IQD EXCHANGE RATE!!!", 28 MARCH

 KTFA

FRANK26: "THE PINNACLE OF SECURITY & STABILITY FOR THE IQD EXCHANGE RATE!!!".......F26

U.S. Warns Iran: ‘Give Up Nuclear Program or Face Consequences’

3/24/2025

 

By Dler Mohammed

 

ERBIL  – 

 

The Trump administration is ramping up its military campaign in the Middle East with a firm demand for the "full dismantlement" of Iran's nuclear program, White House National Security Adviser Mike Waltz declared on Sunday during an interview on Face the Nation with Margaret Brennan. 

Waltz emphasized that Iran must completely abandon its nuclear ambitions to avoid dire consequences, stressing that the U.S. will not tolerate any further advancements in Iran's nuclear weapons capabilities or its strategic missile programs.

Waltz's remarks came after President Donald Trump pledged to hold Iran accountable for any future attacks carried out by the Yemen-based Houthi rebel group, which has been targeting military and commercial ships in the Red Sea. The Houthis, a faction supported by Iran and designated a terrorist group by the U.S., have disrupted a vital trade route in the region, through the Suez Canal. Although the effectiveness of the Houthi strikes has varied, the ongoing threat to global trade is a key concern for the Trump administration.

"Iran has to give up its program in a way that the entire world can see," Waltz asserted. "It is time for Iran to walk away completely from its desire to have a nuclear weapon." He underscored that Iran's nuclear weapons program, along with its missile capabilities, poses a grave threat to regional stability, particularly in the Middle East. "If they had nuclear weapons, the entire Middle East would explode in an arms race," he warned, calling such a scenario "completely unacceptable" for U.S. national security.

Despite the escalating rhetoric, Waltz left room for diplomacy, noting that "there are still opportunities for diplomacy between the U.S. and Iran." However, President Trump has made it clear that the U.S. is prepared to take a hard line in its dealings with Tehran. Just two weeks ago, Trump sent a letter to Iran's Supreme Leader Ayatollah Ali Khamenei, urging negotiations to prevent Iran from acquiring nuclear weapons without resorting to military action.

The tension around Iran's nuclear program has been building since the United Nations nuclear watchdog, the International Atomic Energy Agency (IAEA), reported in February that Iran had significantly increased its production and stockpiling of highly enriched uranium. This development signaled a troubling advance in Iran's nuclear capabilities under President Trump’s second term. In response, Trump withdrew from the 2015 nuclear deal during his first term, which had sought to curb Iran's nuclear ambitions, and re-imposed stringent sanctions on the country.

Khamenei responded to the U.S. threats in a televised address, warning that "threats will get them nowhere" and that any attempts to malign Iran would result in "a hard slap." The Iranian government has consistently denied accusations that its nuclear program is geared toward developing weapons, maintaining that its activities are peaceful.

The escalating tensions over Iran’s nuclear program, alongside growing conflicts in the region, highlight the complex and volatile dynamics of U.S.-Iran relations. While the Trump administration remains committed to dismantling Iran’s nuclear ambitions, it is clear that the situation is far from resolved, with both sides on a collision course. 

As tensions continue to rise, we can expect further diplomatic efforts, but the risk of military escalation remains high, particularly with the involvement of Iranian-backed groups in the region.

LINK