Iraq displaces Saudi Arabia from the top oil-importing countries to India
India’s imports of Saudi oil have decreased significantly, while Iraq has the lion’s share of India’s oil imports, despite the recent reduction of its oil imports in general as a result of the repercussions of the Corona epidemic, as it decreased in February by 18.3% on an annual basis to 15.24 million Tons (106 million and 860 thousand barrels), registering the largest annual decline since October 2020.
India also decided to diversify its sources of oil after it accused OPEC of raising oil prices due to the cuts it had recently made, to which the Saudi Energy Minister would respond by using the stored oil it had bought. At low prices during the low prices at the beginning of last year 2020
And as a result; The Indian Ministry of Oil urged local refiners to diversify their crude resources and reduce dependence on the Middle East, which reduced dependence on the Middle East from 64% of imports in 2016 to 60% in 2019.
As a result, India’s oil imports from Saudi Arabia decreased by 42%. % During the month of February to 445,200 thousand barrels per day, while the share of the United States increased to 545,300 thousand barrels per day, making it the second largest oil exporter to the country after Iraq, which was able to ship 867,500 thousand barrels per day. link
Kurdistan Democrat gives good news to the region’s employees after the Eid holiday
The Kurdistan Democratic Bloc confirmed, on Friday, that the federal government will launch the salaries of employees and the share of the Kurdistan Region in the 2021 budget, after the Eid al-Fitr holiday.
Democrat Shirwan Al-Dobardani said, “The joint technical committee that was formed to follow up the terms of the agreement between the federal government and the Kurdistan Region continues its work to implement the agreement and what is stipulated in the General Budget Law for 2021.”
Dubardani added, “According to the information, the salaries of employees and the region’s share in the budget law will be launched by the Federal Ministry of Finance after the Eid Al-Fitr holiday.”
He pointed out that “launching the Kurdistan Region quota in one go or in the form of payments left to the Technical Committee, it is concerned with that through its action on the Ministry of Finance.”
And the Prime Minister had indicated, during a press interview, on May 9, 2021, that Baghdad is now in the final stage of approving and distributing the budget chapters, and that Kurdistan’s share will arrive in Erbil soon. link
Source: Dinar Recaps
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