TNT
Tishwash:
Iraq’s oil generates more than 8 billion dollars in one month
The Ministry of Oil announced, on Thursday, the total exports and revenues achieved for the month of November, according to preliminary statistics issued by the Iraqi Oil Marketing Company (SOMO).
The ministry said, in a statement received by Mawazine News, that “the total quantities of crude oil exported for the month of November from the oil fields in central and southern Iraq amounted to 97,204,696 barrels, while from the Kirkuk fields through the port of Ceyhan, the exported quantities amounted to 2 million.” And 363 thousand and 20 barrels.
The ministry indicated that “the average daily quantities exported amounted to 3 million and 329 thousand barrels per day,” adding that “the average price of one barrel amounted to more than (82,417) dollars. link
Economist: Oil prices will range between 90-100 dollars over the next year
The economist, Dr. Safwan Qusay, suggested that oil prices will range between 90-100 dollars per barrel during the next year, pointing out that prices will not fall below 70 dollars per barrel, even if oil is pumped from the strategic storage of the United States.
Qusai told Al-Maalouma that “it is better for OPEC to keep the same policy and not increase or decrease production, especially since there are sanctions that will be imposed on Russian oil.”
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He added, “It is possible for oil prices to range between 90-100 dollars a barrel during the next year, so that there will be stability in the revenues of Iraq and other major oil producers.”
And he indicated that “Iraq will be affected if the pumping of oil from the strategic storage is increased, and it is likely that prices will not fall below $ 70 a barrel even with the increase in the pumping of oil from the strategic storage by the United States,” stressing that “China’s control of the C----a pandemic will be a factor for price growth.” oil and its height. link
An official source: The budget will reach parliament next Thursday
An official source in the House of Representatives confirmed, on Thursday, that the 2023 budget will reach the House next Thursday.
The official Al-Sabah newspaper, in its issue issued today, quoted the source as saying, “The 2023 budget will arrive in the last hours of the eighth day of December.”
The source added, “The eighth of December is the last date before the House of Representatives announces the start of its recess for the legislative season, starting from the ninth day of this month and for a month.”
He explained, “After the budget is received from the government, the work of Parliament may be extended until it is approved.” link
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Including the budget and oil .. Announcing the details of the results of the negotiations of the delegation of the regional government in Baghdad
Jutiar Adel, a spokesman for the Kurdistan Regional Government and a member of the Kurdistan Regional Government delegation to Baghdad, said: “A positive atmosphere prevailed in the meetings with the federal government delegation, and we sensed that they wanted to reach an agreement, and in the end we must reach a middle solution, and the Kurdistan Regional Government delegation will go to Baghdad.” whenever needed.”
Jutiar Adel added to the official website of the Kurdistan Regional Government: “We have been visiting Baghdad since last Sunday, according to the decision issued by the Council of Ministers and under the direction of the Prime Minister to form this delegation and go to Baghdad as soon as possible to participate in the formulation of the federal budget for the fiscal year 2023. That is why we visited Baghdad, where we stayed for four days, and today we returned to the Kurdistan Region.
The spokesman for the Kurdistan Regional Government confirmed, saying: “We discussed several issues in our meetings, including the budget and its details, in which two teams from the Ministries of Finance and Natural Resources in the Kurdistan Regional Government participated in preparing the numbers and notes that the Ministry of Finance has, and explaining the unclear points that need clarification or Reorganization, and these things were completed and prepared in two or three days. Lists of appointments and staffings and lists of expenditures of the Kurdistan Regional Government were submitted to the Ministry of Finance in the federal government.
He went on to say: At the beginning of our visit to Baghdad, we discussed the basis for reaching an agreement, of course the basis of the constitution and the ministerial curriculum paper, which became the basis for talking about issues such as the budget, oil, crossings and financial control. Today’s meeting, Wednesday, November 30, was an important meeting with a high-level delegation from the Iraqi government. We discussed the four files and the necessary procedures to find out the responsibility of the Kurdistan Regional Government and the responsibility of the Iraqi government.
The spokesman for the Kurdistan Regional Government concluded by saying: “The meetings are continuing and will continue, and the delegation of the Kurdistan Regional Government is ready to visit Baghdad whenever necessary and may visit Baghdad again soon so that we can discuss the issue of the budget again, and we expect it to be ready within a month or less, and we hope that These discussions and visits will be fruitful, and finally the real share of the Kurdistan Region will be established according to the constitutional entitlements that must be adhered to or dealt with and other files.
It was a really positive atmosphere and we understood from the meetings that they wanted to reach an agreement, but how, what and in what way is the subject of discussion? And that in In the end, we must reach an intermediate solution according to the ministerial approach.” link
Source: Dinar Recaps
Carlosisan:
Good afternoon tnt fam. – here we are, Dec 1st and everything is status quo. Same song, different lyrics.
Yada:
Ah, but it is not the same song. The only thing that is the same is we are not at the banks yet BUT,,,their government is formed, they are sovereign, they have conditioned a budget that is pleasing to most of the country including Kurdistan, the UN-US-EU are pushing them to get it done. If we are waiting for the budget, it is to be submitted by the 8th and since their final session is the 10th, they will get it passed.
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And as Tony stated yesterday on the call, technically, the CBI doesnt have to wait until it is passed and CAN release it at any moment. Contracts have been negotiated, Iraqi banks are set to be activated, and a recent article stated the banks will not issue any new credit until after the 1st of the year ie, when the 23 budget is set to be activated with the oil and gas law and article 140.
I hate waiting all this time but considering all that has transpired the past 10 years, those who had power have been dethroned and finally, they are doing what was to have happened 18 years ago. To think 90% of you here would of missed it if they did go back then. AND not have all the knowledge to act on our new wealth once we have it thanks to Tony and Ray. We are the new wave of Millionaires in the US in an economy with high inflation.
Greyeagle1:
Rasheed Bank and the Iraq Trade Bank suspend issuing credit until after the first of the year. Hmmmm !!! maybe prelude to RV?
RoraH:
Greyeagle1….My rose colored Dinarian glasses are looking at it like that! But as I recall those banks have done the same thing for the past several years and no RV. So we shall see. As Ray frequently tells us “time will tell”! :thanks:
RVAlready:
I believe in the RV, because I think it has to happen. I see no way to a viable recovery without an RV/GCR.
CandyKisses:
More than $8 billion in Iraq’s oil exports in a month
The Ministry of Oil announced on Thursday that the revenues achieved from its oil exports for the month of November amounted to more than 8 billion dollars.
The ministry said in a statement reported to Shafaq News Agency that “according to the preliminary statistics issued by the Iraqi Oil Marketing Company “SOMO”, the total amount of exports of crude oil (99) million (867) thousand and (946) barrels, revenues amounted to (8,231) billion dollars. “
She added that “the total quantities exported of crude oil for the month of November from the oil fields in central and southern Iraq amounted to (97) million and (204) thousand and (696) barrels, while from the fields of Kirkuk through the port of Ceyhan, the quantities exported amounted to two million and (363) thousand and (20) barrels.”
She pointed out that “the average daily quantities amounted to (3) million and (329) thousand barrels per day, indicating that “the average price per barrel amounted to more than (82,416) dollars.”
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Iraq exports crude oil from its southern fields through the ports of the Arabian Gulf, while oil is exported from its northern fields through the Turkish port of Ceyhan and to Jordan through the basins.
Source: Dinar Recaps
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