Samson » October 4th, 2022
America affirms its commitment to its strategic partnership with Iraq under the framework agreement between the two countries
4th October, 2022
US Secretary of State Anthony Blinken affirmed that “the United States will remain committed to its strategic partnership with Iraq and to deepening and strengthening our relations under the Strategic Framework Agreement between the United States and Iraq,” expressing his aspiration to continue working on common priorities and strengthening ties between the two countries.
And the Iraqi News Agency (INA) stated that this came during the congratulatory cable received by Iraqi Prime Minister Mustafa Al-Kazemi, on Monday, from US Secretary of State Anthony Blinken, on the occasion of the Iraqi National Day. LINK
Al-Halbousi Congratulating the National Day: The Beginning of the Nation’s March as an Independent Sovereign Country
3rd October, 2022
Monday, Parliament Speaker Muhammad al-Halbousi congratulated the National Day of the Republic of Iraq, while noting that this occasion is the beginning of the nation’s march as an independent and sovereign country.
Al-Halbousi said in a tweet on his Twitter account, which was followed by (Al-Oula News), “On the third of October, we commemorate the independence of the Iraqi state and the beginning of the homeland’s march as an independent and sovereign country.”
“We are inspired from this day by the duty to defend its sovereignty, independence and territorial integrity, and we are united under its banner and work for its progress and prosperity,” he added.
Al-Kazemi: We have important contracts with major oil companies, and Iraq will remain an important source of energy production
4th October, 2022
The head of the federal government, Mustafa Al-Kazemi, said that his government has contracts with major oil companies to develop infrastructure in the energy production sector in the country.
Al-Kazemi said in an interview with the French newspaper “Le Figaro”, “Iraq is an important country in the field of energy production, and we have worked on developing energy infrastructure to be able to secure the energy market with high flow. We have signed important contracts with Total to expand the flow of energy supply.” extracting associated gas in our oil fields, and developing clean and alternative energy projects.
He added, “We have changed the title of the Ministry of Electricity to the Ministry of Electricity and Alternative Energy, an indication of our government’s directions towards moving towards clean energy that is suitable for the environment.”
Al-Kazemi continued, “We have other important contracts with major oil companies to develop infrastructure in Iraq, and Iraq will remain an important source of energy production in the world. At the same time, we are working hard to adapt our energy production to modern standards appropriate to the environment to protect it and maintain its safety.” LINK
Iraq participates in an international exhibition in Greece
4th October, 2022
Today, Tuesday, the Iraqi Businessmen Union concluded its participation in the Athens International Exhibition of Modern Technologies, Plastics and Packaging Factories, which started its work on the 1st of this month, confirming its participation in another exhibition for food industries next month in the Greek capital, Athens.
A member of the administrative body of the union, Abdel-Hassan Azzouz, told the official agency, which was followed by (Al-Oula News): “The participation of the union, consisting of businessmen of various specializations, from members in this exhibition came to introduce the public to the Iraqi products manufactured by the private sector,” stressing that “the Iraqi pavilion met public approval.”
He pointed out that “after the success of the union’s participation in these exhibitions, several exhibitions will be held in the future, including the Food Industries Exhibition, which will be held in November – 2022 in the Greek capital, Athens.” LINK
Protesters set fire to the entrance to the Dhi Qar Governorate Diwan
3rd October, 2022
Protesters set fire to the entrance to the Diwan of Dhi Qar Governorate, after clashes and skirmishes with the Iraqi security forces, on Monday evening.
A security source told Shafaq News Agency, “Protesters set fire to the outer courtyard of the governorate’s office building, in the center of Nasiriyah.”
He added that “the fire reached the external inquiries of the governorate office, after protesters threw Molotov cocktails from a distance,” noting that “the protesters were unable to storm the building, and the security forces are in control of the situation.”
Earlier in the day, a senior security commander in the Dhi Qar Police Command stated that the security forces are facing a “deviant group” intending to storm the governorate office building for the purpose of burning it. LINK
For the second day, oil prices continue to rise
Oil prices continued to rise for a second day in early Asian trading, amid expectations that OPEC + may agree to a significant reduction in crude production when it meets tomorrow, Wednesday, but concerns about the global economy limited the gains.
Oil prices rose on Monday on renewed concerns about tight supply. There are expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its allies, collectively known as OPEC+, will cut production by more than 1 million barrels per day in their first in-person meeting since 2020 on Wednesday.
Reuters quoted sources in OPEC as saying that voluntary cuts by members could come on top of that, making it the largest wave of cuts since the start of the Covid-19 epidemic.
Brent crude futures rose 41 cents, or 0.46 percent, to $89.27 a barrel by 0444 GMT, after gaining more than 4 percent in the previous session. US crude futures also rose 22 cents, or 0.3 percent, to $83.85 a barrel. It had risen more than five percent in the previous session, marking its biggest daily gain since May. “Despite everything going on with the war in Ukraine, OPEC+ has never been this strong and will do whatever it takes to make sure prices are supported,” Edward Moya, a senior analyst at OANDA, said in a note.
And OPEC + boosted production this year after record cuts in 2020 due to the damage to demand caused by Corona. But the organization failed in the past few months to meet the planned increases in production, which it did not achieve in July, by 2.9 million barrels per day.
Oil prices have fallen for four consecutive months as the COVID-19 shutdown in China, the largest oil importer, curbed demand while higher interest rates and a stronger dollar put pressure on global financial markets.
Major central banks embarked on the biggest round of interest rate increases in decades, raising fears of a global economic slowdown.
A preliminary poll by Reuters showed, on Monday, that US crude oil inventories increased by about two million barrels in the week ending September 30. LINK
Source: Dinar Recaps
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