Bond Lady’s Corner Iraqi News Thursday AM/PM 5-27-21

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Iraqi News Thursday AM 5-27-21

TLM724 Administrator BondLady’s Corner

Parliamentary Finance / NINA /: The Government Will Challenge The General Budget Law Next Week

Thursday 27, May 2021 11:54 | Economical Views: 225   Baghdad / NINA / The Parliamentary Finance Committee has suggested that the government will proceed to submit the list of appeals against the General Budget Law 2021 to the Federal Court within the next week.

Committee member, Naji Al-Saeedi, said in a statement to the Iraqi National News Agency / NINA /, that “the government is in the process of challenging some of the provisions of the general budget, and sees the amendments that were added in the House of Representatives affecting the health and electricity sectors,” indicating: “The Cabinet will unify The ministries ’notes are drafted in a unified draft to present to the Federal Court an official list of appeals on some of the budget’s items.

He added that “there are more than 10 articles in the General Budget Law that the government will challenge in front of the Federal Court, including the article requiring ministries to transfer some formations and join them to the Federal Service Council, as well as the article related to regional development projects,” indicating that “the House of Representatives has made amendments to the Budget Law.” The public, and the government has the right to appeal the amendments and additions introduced by the House of Representatives in accordance with the law.

The Council of Ministers decided, in its session held on April 20, to authorize its president to appeal before the Federal Court a number of articles of the Federal Budget Law for the fiscal year 2021./ End 5

https://ninanews.com/Website/News/Details?Key=906567

US National Security Announces Its Support For Kazemi

The US National Security Council announced today, Thursday, its support for the Iraqi government’s measures to impose the rule of law and prepare for early elections.

“We strongly support the commitment of Prime Minister Al-Kazemi and the Iraqi government to support the rule of law in preparation for free and fair elections,” the chancellor said in a post on Twitter.

And stressed the need to investigate any person who targets Iraqi citizens in accordance with Iraqi laws in debt who seek to undermine the stability of Iraq by acts of violence.

On Wednesday, the government imposed tight security measures, including intensive military deployment in the central regions of the capital, to impose the law and not allow any armed party to take to the streets, against the backdrop of the arrest of a leader of the Popular Mobilization Forces due to the existence of an arrest warrant issued against him by the judicial authorities.   https://www.radionawa.com/all-detail.aspx?jimare=24804

Oil Is Considering Strengthening Cooperation With Total Clean Energy Investment Company

Energy  Economy News _ Baghdad  Oil Minister Ihsan Abdul-Jabbar Ismail discussed with Director of Total Middle East and North Africa Laurenta Fever, ways to enhance cooperation.

In a statement received by Al-Eqtisad News, the Minister of Oil affirmed the ministry’s keenness to expand cooperation and strengthen relations with sober international companies, including Total, in a way that serves common interests.

“We hope to accelerate the implementation of development and investment plans for associated gas and free gas investment projects, clean energy, and the advancement of infrastructure through modern technology,” Ismail said.

He added that the meeting with “Total” comes to follow up the procedures for implementing the axes of the memorandum of understanding signed between the ministry and the company.

For his part, the Director of Total in the Middle East and North Africa affirmed that the company is keen to cooperate with the Ministry’s companies to implement a number of important investment projects in the gas and clean energy sector.   Number of observations 169 Date added 05/27/2021  https://economy-news.net/content.php?id=25190

The High Exchange Rates Of The Dollar In The Local Markets

Market  Economy News _ Baghdad  The exchange rate of the dollar rose today, Thursday, to its highest levels in the main stock exchange in Baghdad and banking shops.

The Al-Kifah and Al-Harithiya Stock Exchange in Baghdad recorded 149,500 Iraqi dinars against 100 US dollars, after it recorded 149150 dinars during its opening yesterday morning.

While the selling prices increased in the exchange shops in the local markets in Baghdad, reaching 150,000 Iraqi dinars, while the purchase prices reached 149,000 dinars per 100 US dollars.

Number of observations 143 Date of addition 05/27/2021  https://economy-news.net/content.php?id=25196

In Numbers … Weekly Trading Indicators For The Iraq Stock Exchange

Economie| 01:58 – 05/27/2021   Baghdad – Mawazine News  The Iraq Stock Exchange organized five trading sessions during the fourth week of May 2021, from Sunday 05/23/2021 to Thursday, 05/27/2021.

As the indicators below were achieved this week:

1. The number of shares traded this week reached more than 90 billion shares.

2. The value of shares traded this week amounted to more than (77) billion dinars.

3. The index of trading in the market closed for the first session of the week at (587.72) points, while the index closed at the end of the week at (579.27) points, achieving a decrease of (1.46%) from its close at the beginning of the session.

4. During the week, more than (2,600) sale and purchase contracts were executed on the shares of companies listed on the market. The period ended 29 / A43.   https://www.mawazin.net/Details.aspx?jimare=154711

Today .. Central Bank Sales Of Hard Currency Exceed $ 150 Million

Economie| 01:44 – 5/27/2021   BAGHDAD – Mawazine News  The Iraqi Central Bank’s hard currency sales, on Thursday, recorded a remarkable increase, exceeding $ 150 million.

The Central Bank of Iraq sales of hard currency during its auction for the sale and purchase of foreign currencies increased by 2.89%, to reach 152 million 899 thousand and 152 dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Wednesday, when sales reached 148 million And 600 thousand dollars.

The purchases amounting to 149 million and 49 thousand 152 dollars went to strengthen the funds abroad in the form of transfers and appropriations, while the remaining amount of 3 million and 850 thousand dollars went in cash.

And 28 banks responded to requests to boost funds abroad, one bank to fulfill cash requests, and a participating exchange company. Ended 29 / p4   https://www.mawazin.net/Details.aspx?jimare=154709

Oil Minister: Iraq Aims To Increase Its Capabilities Of Crude Gas And Light Oil

Time: 05/27/2021 16:55:39 Read: 728 times   Up to the production of 800 thousand barrels per day in the West Qurna field / 2 The Minister of Oil announces the start of the trial operation of the Yamamah reservoir in the West Qurna field / 2 in Basra Governorate with a capacity of (10) thousand barrels per day, up to (350) thousand barrels per day.

said during his attendance at the trial operation of the Yamama oil reservoir in West Qurna / 2 field in Basra Governorate that today we are facing a major qualitative event, which aims to produce from the Yamamah oil reservoir for the first time and to reach the production capacity to (350) thousand barrels per day.

Despite the economic and health challenges created by the circumstances of the spread of Covid 19, this increase from the Yamamah reservoir is added to the production quantities from the honorable reservoir, which is estimated at (450) thousand barrels, bringing the total production of West Qurna field / 2 to (800) thousand barrels per day.

The Minister of Oil indicated that Iraq aims to increase its capabilities of crude gas and light oil, which is a vital goal in the service of the national economy, and that what has been achieved today represents a technical, financial, environmental and health challenge that we were able to overcome.

Ismail praised the relations with LUKOIL, and its promise of long-term distinguished partnerships.

For his part, the Commissioner Director of LUKOIL MED-EAST Ltd., Yegor Zobarv, said that he is happy with the experimental operation of the Yamamah reservoir and several important development projects in the West Qurna field / 2, and that it represents the second stage of the development process that aims to reach total capacity from the West Qurna field 2 / amounting to (800) thousand barrels per day, praising the great cooperation with the Iraqi national effort to achieve common goals. As praised

Undersecretary for extraction affairs, Karim Hattab, with the joint efforts between Basra Oil and Lukoil, which resulted in raising the field’s production capacity, especially from an honorable reservoir to 400,000 barrels per day, after it did not exceed 130,000 barrels per day in 2014,

and that the Ministry’s goal is to achieve sustainability and stability of production from the field.

As for the Director General of the Basra Oil Company, Khaled Hamzah, the West Qurna-2 field, in southern Iraq, is one of the largest oil fields in the world, with recoverable initial reserves of about 12.9 barrels of oil equivalent.

The area of the contractual area is about 300 square kilometers. In 2010, Lukoil signed the service and development contract for the field. In the year 2014, commercial production of oil began, and then the first phase of the field’s development was successfully implemented. Hamzah added that the production of the West Qurna field represents a good percentage of the total oil production in Iraq.

Meanwhile, the ministry’s spokesman, Asim Jihad, considered increasing production from the Yamamah reservoir, an important step to boost national production of good light oils that achieve higher financial revenues than other oils.

And that the production from the Yamamah reservoir is the first production process from deep and complex wells. This step is due to the joint effort between the Basra Oil Company and the Oak Oil Company.   LINK

Source: Dinar Recaps


More Iraqi News Thursday PM 5-27-21

TLM724 Administrator BondLady’s Corner

Obelisk Oil Expert: The Iraqi State, Since Its Establishment, Has Not Been Interested In Producing Gas As Is Oil

Baghdad / Al-Obelah: The oil expert, Hamza Al-Jawahiri, explained on Wednesday May 25, 2021 that the previous regime did not give importance to gas as is its position on the importance of oil for the Iraqi economy, so the focus was on exploring and developing oil fields only.

Al-Jawahiri said in a statement to The obelisk, that this matter did not represent the state’s strategy for the previous regime, but rather represented the state’s strategy from its inception until the fall of the previous regime in 2003.

He indicated that what was discovered of gas reservoirs during that period was among the operations of Oil exploration, so these discoveries were neglected due to the presence of large quantities of associated gas, which was burned due to the lack of capacities to process this type of gas, which most of them contain high levels of hydrogen sulfide and sulfur dioxide and also varying proportions of water as the hydrogen sulfide itself is a cause of corrosion The equipment it passes through, as well as its high toxicity, which causes death in many lives N.

He added that the presence of water with sulfur dioxide as well as carbon dioxide is also a strong cause of equipment corrosion, because when these gases dissolve, carbonic sulfur acids H2SO3 and H2CO3 are formed, both of which are strong acids and have a significant impact on equipment corrosion, as well as after Markets in Europe and elsewhere on Iraq, as well as the high costs of developing gas fields.

He pointed out that for these reasons, gas with high impurities, i.e. acid, was neglected, and the focus was on sweet gas, which is produced from the fields of Rumaila, Zubair and Nahr Omar, as the quantities of sweet gas produced from these fields were sufficient to meet Iraq’s need for gas to produce electric power.

He continued: Iraq was at that time producing only 5 kWh until the fall of the previous regime, as what remained of those stations did not produce more than 2.7 kW, leaving the rest to burn because it was not needed and the relatively high costs of treating it, and Iraq did not need it.    https://almasalah.com/ar/news/209770/خبير-نفطي-لـ-المسلة-الدولة-العراقية-منذ-تأسيسها-لم-تهتم-بانتاج-الغاز-مثلما-النفط

Source: The Three Presidencies Meet Today To Discuss The Repercussions Of Yesterday’s Events

Time: 05/27/2021 12:09:37 Read: 3,432 times   {Politics: Al-Furat News} An informed source revealed that a meeting is scheduled for the three presidencies this afternoon, Thursday.

The source told {Al-Furat News} that “the meeting will be held completely at 4:30 pm to discuss the implications of yesterday’s security events in Baghdad.”

It is noteworthy that the capital Baghdad witnessed a security alert yesterday, due to the arrest of the leader of the Popular Mobilization Forces, Qassem Musleh.

The Security Media Cell announced the arrest of the “accused”, leader of the mobilization operations in Anbar Province, Qassem Musleh.

A cell statement stated: “Based on an arrest warrant and a judicial investigation issued on May 21, 2021 in accordance with Article 4 of the Anti-Terrorism Law, a security force carried out the arrest of the accused Qassem Mahmoud Karim Musleh at dawn today, and an investigation is underway with him by a joint investigation committee in criminal charges. Attributed to him according to legal contexts. “

She pointed out, “The operation does not target any military or security party, as rumors from the promoters of sedition, and that all military and security services are under the command of the Commander-in-Chief of the Armed Forces.”

In his statement, Al-Kalzhemi said: “A competent Iraqi security force executed, under the order of the Commander-in-Chief of the Armed Forces, a judicial arrest warrant against one of the accused on the morning of {Wednesday} according to Article 4 terrorism and based on complaints against him.”

He indicated that “an investigative committee was formed consisting of the Joint Operations Command, Interior Intelligence, Military Intelligence, National Security and the Popular Mobilization Security to investigate the accusations against him as he is now in the custody of the Joint Operations Command until the end of the investigation.”

Al-Kazemi pointed out that “the armed manifestations that occurred by armed groups are a serious violation of the Iraqi constitution and the laws in force, and we have directed an immediate investigation into these movements according to the law.”   LINK

Political Leader: The Minister Of Finance Informed Me Of His Intention To Resign Before He Was Questioned

Time: 05/27/2021 14:45:13 Read: 3,627 times   {Politics: Al Furat News} A political leader revealed the intention of Minister of Finance, Ali Allawi, to submit his resignation from the government, especially after the parliament intended to question the minister about several files.

The head of the National Coalition, Iyad Allawi, said in a press interview, “My cousin (the Minister of Finance) told me that he prepared his resignation, and he has no desire to continue with the government because the political blocs bear him raising the dollar at a time that they all met with the prime minister and accepted the decision to raise, but today they disavow the matter. “.

Allawi did not reveal the date of submitting the minister’s resignation.

It is noteworthy that representatives said that the House of Representatives intends to question the Minister of Finance next week, and the most prominent of the interrogation files is the raising of the dollar and the delivery of the region’s financial dues without a legal basis, in addition to other files.   LINK

Iraqi Oil – And A Gulf Policy To Exploit The Stances (Stealing The Future Of Iraq) And Gulf Aid

Pratha News Agency121 2021-05-27   Sadiq Al-Basrawi   Since the nationalization of Iraqi oil at the beginning of the seventies of the last century, Saudi Arabia and the UAE have excluded a smart oil policy that relies on implicating and pushing for instability in Iraq through play and incitement for the purpose of taking Iraq’s oil share through the policies condemned by it and within a timeline.

Nothing explains why Saudi Arabia, which is thirty million people, exports twice as much as Iraq.

The difference between the Iraqi income is 50 billion dollars in favor of Saudi Arabia for the year 2019 only .. Any simple calculation that shows how the injustice of Saudi Arabia and the UAE, taking into account the official population of the UAE, for the population of citizens (according to the 2010 estimate): 947,997. It earns 66 billion dollars, while Iraq has close to 40 million citizens, 83 billion.

What futile injustice and destruction of millions.

Crude Oil Exports by Country

Countries

Below are the 15 countries that exported the highest dollar value worth of crude oil during 2019.

1. Saudi Arabia: US $ 133.6 billion (13.3% of exported crude oil)

2. Russia: $ 121.4 billion (12.1%)

3. Iraq: $ 83.3 billion (8.3%)

4. Canada: $ 68.1 billion (6.8%)

5. United Arab Emirates: $ 66.1 billion (6.6%)

6.United States: $ 65.3 billion (6.5%)

7. Kuwait: $ 42 billion (4.2%)

8. Nigeria: $ 41 billion (4.1%)

1- Exploiting the decision to nationalize Iraqi oil in oil-importing countries and aggravate the global oil situation and intimidate these countries from nationalizing oil, thus taking a larger share of the oil market by building their oil installations and enhancing export capacity and at the same time enhancing instability in Iraq and Inciting the international community to enhance their export capacity in the global oil market. And make huge money at the expense of Iraq.

2- The eighties of the last century, after establishing their export capacity and guaranteeing the market, Saudi Arabia and the UAE began to exploit the Iraq and Iran wars if they did not pay and incite it for the purpose of taking the Iraqi and Iranian oil markets this time, as Iran fell under siege. Increase their oil share in exports and the market, thus increasing their financial income, which explains the great financial extravagance in the eighties of the last century.

Thus, Saudi Arabia and the UAE have an income from their legal oil quota and an oil quota from Iraq and Iran, and this is the share from which they spend to destroy these countries and the region and build their economy. It is an intelligent politician and has a positive outcome for them and is destructive for Iraq.

3- The 1990s, Saudi Arabia and the UAE continued the same oil policy, but more rigorous and experienced, by exploiting the Iraqi and Iranian position, where Iraq left the war and requested an increase in its oil share, and Iran and its submission to sanctions. The financial returns helped these two countries to buy receivables around the world, thus striking Iraq easily in all forums.

With the entry of Iraq into Kuwait, it gave them a greater opportunity to take more of Iraq’s share while it was under sanctions and to strengthen Iran’s sanctions. Here, Saudi Arabia and the UAE benefit greatly in trillions of dollars, not billions. Of course, the weak and idiotic Iraqi position and the failure to properly understand what is going on gave Saudi Arabia and the UAE their ability to steal Iraq.

4- After learning and understanding the great benefit of this cruel and destructive oil policy, Saudi Arabia and the UAE began to strengthen this policy, especially with other countries, and to exploit global policies. With the year 2000 and the events accompanying it, Saudi Arabia cleverly managed this file and exploited all the events to preserve its gains. And it continued with the same policy, and even after the fall of Saddam, Saudi Arabia and the UAE continued to support the instability of Iraq by sending Saudis dying in Iraq, as well as exploiting the internal Iraqi dispute for the purpose of preserving its interests. The Iranian file was easier, as this country succumbed to harsh sanctions. And with this, Saudi Arabia and the Emirates have preserved their oil shares and financial supremacy. This policy lasted until 2010

5- With the year 2011 and the American exit from Iraq and the Arab Spring, Saudi Arabia and the UAE returned to support instability in Iraq, directly and effectively, and other countries this time, especially oil, such as Libya, because this strengthens its control over financial and production superiority.

And with the emergence of ISIS in Syria and Iraq, and with direct Saudi-Emirati support, the main purpose of it is to destroy Iraq and return its export oil share to less than 2 million. This did not succeed, but events returned the Iraqi oil industries by about 20 years, and it is a victory for them.

But the Libyan collapse gave an additional share to Saudi Arabia and the UAE, which explains their intervention in Libya, and with Trump’s presence, Iran remained under siege, and Iraq is now implementing what ISIS could not implement through the hierarchy of power.

The disruptive and atrocious role in the Iraqi oil sector is an important pillar of the Saudi-Emirati political pillars, so do the Iraqis concerned understand with all their religious, political and social details will not fix Iraq, not if Iraq takes its fair oil share and opens the door to development before it is too late and this applies to gas Also.

If Iran returns to the oil market through the nuclear agreement, Saudi Arabia and the UAE will return in a more aggressive way to the policy of instability in Iraq or the employment of some Iraqi politicians for the purpose of implementing its goals.

With this, those who say Saudi Arabia or the UAE support Lebanon or any other country know that this aid comes directly from Iraq, Iran, Libya, Venezuela and other countries through the above practices.

http://burathanews.com/arabic/economic/393249

Parliament Calls On The Government To Draft Laws To Stimulate The Economy

Thursday 27th May 2021  149   Baghdad: Muhannad Abdul-Wahhab   The Parliamentary Economic Committee called on the government to build and innovate economic draft laws that support the advancement of economic sectors, stressing the importance of ending political disputes over some laws to support the public interest.

In an interview with Al-Sabah, committee member Nada Shaker Jawdat called on the government to build projects and laws that are compatible with the current economic stage, as it is considered an exceptional stage that needs decisive and strict laws.

Economic and accelerate the enactment of other disruptive laws to support the public interest. ” She added, “The 2021 budget is for loans, so the real budget is 100% of revenues in the interest of the state, and since the Iraqi economy is dependent on selling oil and there is no effective industry and trade, there will be no effect in these sectors.” She explained that ”   LINK

 To read more current and reliable Iraqi news please visit BondLady’s Corner:

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Source: Dinar Recaps

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