Wed. AM-PM TNT News Articles 3-1-23



China announces an oil discovery

The Chinese National Offshore Oil Company (CNOOC) announced, in a statement, that it had discovered a major oil field in the Gulf of Bohai in the Yellow Sea, with reserves of 100 million tons of   crude.

And a statement posted on the official website of the Chinese company said: “On the first of March, the China National Offshore Oil Corporation announced that the Bozhong 26-6 field with oil reserves of 100 million tons was discovered in the Bohai Bay (Yellow Sea on the coast of northeastern China).”

The company estimates that the well in the field is capable of producing about 2,040 barrels of crude oil and 320,000 cubic meters of gas per day.

The oil field is located in the southern part of the Bohai Bay in the Yellow Sea, about 170 kilometers from Tianjin.  link

Gold Continues To Climb For A Third Day As Dollar Declines

Gold prices continued to climb for the third consecutive session, on Wednesday, as the dollar fell, but fears of US interest rate increases against the backdrop of high inflation globally curbed gains.


Spot gold rose 0.2 percent to $1831,43.0536 an ounce by 0 GMT. U.S. gold futures rose 1.1838 percent to $90,<>.<>.

Britain: Our companies want to invest in Iraq

Economy News Baghdad

The British Minister of State for the Middle East and South Asia, Tariq Ahmed, confirmed that British companies want to invest in Iraq after the improvement of its security and economic situation.

A statement by the Iraqi Foreign Ministry said that “Deputy Prime Minister and Foreign Minister Fuad Hussein received the British Minister of State for the Middle East, South Asia and the United Nations, Lord Tariq Ahmed, and during the meeting they discussed bilateral relations and aspects of cooperation between the two countries.”

The statement quoted the British Minister of State as saying, “Iraq is witnessing a tangible improvement in its security and economic situation, stressing the British government’s keenness to provide all forms of support to the Iraqi government in various fields.”

The British official also expressed “the desire of British companies to invest in Iraq,” stressing “the need to continue cooperation and joint coordination in the field of combating terrorism and defeating the extremist ideology adopted by the terrorist organization ISIS.”


For his part, Fouad Hussein said that “Iraq is looking forward to moving forward to conclude a partnership and cooperation agreement between the two friendly countries,” stressing “the need to work to strengthen economic and trade relations.”

The Iraqi foreign minister called on British companies to “increase their presence in Iraq, as well as the need for the United Kingdom to contribute to the development of the Iraqi banking sector, issues related to the environment and confronting climate change, in addition to the energy sector and associated gas investment.”

The foreign minister explained that “Iraq is in the process of approving the budget law for the current year, which included the allocation of large sums for the implementation of many investment and service projects, which is the main goal set by the current government.”

Al-Sudani: We are preparing to announce the Baghdad 3 conference with a completely different vision

The Prime Minister: We await the support of the United Nations to support economic reforms and fight corruption.

The Prime Minister: We will continue to establish the equation of stability. The Prime Minister : Iraq is a key to the solution in the region, and we are working to bring together the parties. The Prime Minister: Iraq enjoys natural and human resources and a geographical location. The Prime Minister: We are working on preparing for the third edition of the Baghdad Conference, according to the vision of the new government.

This is a different article

Today, Wednesday, the Prime Minister, Muhammad Shia Al-Sudani, received the Secretary-General of the United Nations, Antonio Guterres, who arrived in the capital, Baghdad, yesterday evening, on an official visit.  

A statement by Al-Sudani’s office, which “NAS” received a copy of, (March 1, 2023), stated that “during the meeting, they discussed the bilateral relations between Iraq and the international organization, and reviewed prospects for cooperation in the files of the displaced and the required international role, and facing climate challenges and the need for international assistance in this file, As well as Iraq’s efforts to consolidate a culture of human rights and promote sustainable development, and its pioneering role in reducing tensions in the region and ensuring its stability.    

The Prime Minister thanked the United Nations Mission in Iraq (UNAMI) and its efforts in assisting Iraq in its various stages. His Excellency stressed that Iraq has overcome its political crisis, and its efforts have focused on economic and environmental challenges, and the government has set several priorities to meet these challenges, according to the statement.  


The statement added, “Al-Sudani stated: Iraq’s victory over the terrorist gangs of ISIS happened due to the cohesion of Iraqis and their belief in peaceful coexistence, so that Iraq today becomes the key to resolving many of the region’s crises, and to play a positive role in settling regional crises.”  

And the statement continued, “During the meeting, the Prime Minister reviewed the government’s plans to develop the youth sector and invest in their capabilities and capabilities, and its endeavor to diversify the economy, as well as its adoption of the principle of multiple economic partnerships in its foreign relations.”   

For his part, the Secretary-General of the United Nations described his visit to Iraq as distinguished, and affirmed the support of the international community for Iraq in the file of climate challenges and the file of the displaced, praising the government’s priorities and its focus on the file of combating corruption and the price of its decision to return the displaced to their areas, describing it as a courageous and positive decision, according to the statement.  

Guterres affirmed, “The United Nations is ready to support the government of Iraq in the face of the challenges it faces, expressing optimism about the efforts made by the Iraqi government in all fields.”  link

Source: Dinar Recaps

Gold Continues To Climb For A Third Day As Dollar Declines

Gold prices continued to climb for the third consecutive session, on Wednesday, as the dollar fell, but fears of US interest rate increases against the backdrop of high inflation globally curbed gains.

Spot gold rose 0.2 percent to $1831,43.0536 an ounce by 0 GMT. U.S. gold futures rose 1.1838 percent to $90,

Cryptocurrencies are a “headache” in the head of the G20. Is there a way out?

The precious metal in February recorded its worst month since June 2021 after a series of US data pointed to the resilience of the economy and an increase in the number of jobs available in the labor market, raising fears that the US Federal Reserve will continue to raise interest rates to curb inflation.


The dollar index fell 0.1 percent, making gold priced in the U.S. currency more affordable for buyers holding other currencies.

Among other precious metals, spot silver rose 0.8 percent to $21.09 an ounce, platinum gained 0.4 percent to $955.89 and palladium rose two percent to $1445,03

Barzani: Good progress with Baghdad on the budget, and we hope it will be approved as soon as possible

On Wednesday, the President of the Kurdistan Regional Government, Masrour Barzani, announced “some progress and good understanding” with Baghdad on the draft federal budget law.

 A statement by the regional government stated that Barzani “received today the British Minister of State for Middle East, Africa, South Asia and the United Nations at the British Foreign Office, Lord Tariq Ahmed.”

Barzani pointed out, “There is some progress and good understanding about the draft federal budget law, especially since the Kurdistan region participates for the first time in preparing a draft budget law,” expressing his hope that “the House of Representatives approves the draft law as soon as possible, in a way that guarantees rights and entitlements.” Finance of the Kurdistan Region within the framework of the Constitution. 

For his part, Lord Tariq Ahmed indicated, “The Kurdistan region has witnessed remarkable development, progress and reconstruction since his first visit to the region in 2018,” according to a statement by the Kurdistan government.

He added that “the Kurdistan region has an important place, especially in the region.” He reaffirmed “his country’s desire to proceed with strengthening relations with the Kurdistan Region.”

 For his part, the President of the Kurdistan Regional Government thanked Britain for its “continued support for the Kurdistan region,” and gave “an overview of the reforms implemented by the ninth ministerial formation in the areas of economic diversification and interest in the agricultural sector, exporting local products to foreign markets, and electronic transformation in public services and government affairs.” . 

The meeting dealt with “the importance of resolving contentious issues between the Kurdistan Region and the federal government,” as the two sides agreed that “solving these problems, according to the constitution, is in the interest of all citizens and the various components of Iraq.”


The two sides also stressed “the rule of law, protection of stability, support for the continuity of the service government, the importance of implementing the Sinjar Agreement, removing militias and illegal armed forces, normalizing the situation in the region, and ensuring the return of the displaced to their homes  link

Source: Dinar Recaps


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