News — Dinar Recaps Blog Page — Dinar Recaps (2024)

Iraq Economic News and Points To Ponder Tuesday Afternoon 6-18-24

International Finance: Economic Reform In Iraq Is Witnessing An Increasing Pace And We Have Invested About Two Billion Dollars

Economy Today, 17:24 Baghdad - IA - Wissam Al-Mulla The representative of the International Finance Corporation in Iraq, Bilal Zaghir, confirmed today, Tuesday, that the institution’s investment in Iraq has reached nearly two billion dollars since 2005, while indicating that economic reform is witnessing an increasing pace.

Zaghir told the Iraqi News Agency (INA): “The work of the International Finance Corporation dates back to the year 2005, and over the years we have been able to invest approximately two billion dollars in a wide range of sectors,” noting that “our work in Iraq will extend our belief in the future prospects of Iraq and the acceleration of the pace of reform.”

"This will be reflected positively in creating other investment opportunities in all sectors, whether industrial, infrastructure, or in the financial and banking sectors."

He added, “The International Finance Corporation is the arm of the World Bank that is concerned with developing the private sector by

providing the necessary financing for private sector projects in addition to

providing advisory services.

Therefore, the framework of the institution’s work expands to include a wide range of financial services to all companies operating in Iraq, in addition to providing consulting services". Zaghir continued,

“The IFC’s thinking relates to a group of sectors whose importance we believe and whose importance we share with the Iraqi government, whether

investing in the Iraqi industrial sectors, where they are productive and an alternative to imports, and the second part relates to the

financial sector, both its banking and non-banking parts, in addition to the importance of investing in infrastructure and improving the services provided.” For Iraqis throughout the country,” pointing out that “the main point is our work and encouraging the private sector and working with it.” https://www.ina.iq/211005--.html

A list of dollar prices in 3 governorates, including Baghdad

Economy | 02:39 - 06/18/2024 Baghdad - Mawazine News publishes a list of exchange rates for the dollar against the Iraqi dinar in 3 governorates, including the capital, Baghdad.

Baghdad: Selling prices: 147,000 Purchasing prices: 145,500

Erbil: Selling prices: 147,000 Purchasing prices: 146,000

Basra: Selling prices: 146,500 Purchasing prices: 145,500

https://www.mawazin.net/Details.aspx?jimare=249889

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

I think these difficult times have helped me to understand better than before how infinitely rich and beautiful life is in every way that so many things that one goes around worrying about are of no importance whatsoever. -Isak Dinesen

Problems are the price of progress. Don't bring me anything but trouble. -Charles F. Kettering

Trouble is the thing that strong men grow by. Met in the right way, it is a sure-fire means of putting iron into the victim's will and making him a tougher man to down forever after. -H. Bertram Lewis

Every time you meet a situation, though you think at the time it is an impossibility and you go through the torture of the damned, once you have met it and lived through it, you find that forever after you are freer than you were before. -Eleanor Roosevelt

I have always fought for ideas - until I learned that it isn't ideas but grief, struggle, and flashes of vision which enlighten. -Margaret Anderson

I have learned in the great University of Hard Knocks a philosophy that no woman who has had an easy life ever acquires. I have learned to live each day as it comes, and not to borrow trouble by dreading tomorrow. It is the dark menace of the future that makes cowards of us. -Dorothy Dix

Discontent and disorder were signs of energy and hope, not of despair. -C. V. Wedgwood

We say: mad with joy. We should say: wise with grief. -Marguerite Yourcenar

There are some things you learn best in calm, and some in storm. -Willa Cather

Discontent is the first step in the progress of a man or a nation. -Oscar Wilde

Were there none who were discontented with what they have, the world would never reach anything better. -Florence Nightingale

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

Goldilocks' Comments and Global Economic News Tuesday Evening 6-18-24

Good Evening Dinar Recaps,

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Vietnam's outperformance relative to peers is a good news story that doesn't get enough notice. Like China, it is a communist country that has embraced enterprise and growth. Others should study its method for success.
My first Uber was in Hanoi.Vietnam welcomes trade, commerce, and innovation. Twitter

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Vietnam is moving on up..

It looks like their Market Status is becoming a reality. |

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Watch “Webinar: Latest changes to the International Valuation Standards (IVS) - February 2024”on #Vimeo |Vimeo

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Tokenization May Provide Global Markets With More Efficiency, According to SEC Commissioner |DailyHodl

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Speech by Governor Bowman on innovation in the financial system -Federal Reserve Board

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Iraq Economic News and Points To Ponder Tuesday Afternoon 6-18-24

The Sudanese Advisor Reassures: Iraq Is Safe From Any Financial Risks

Economy | 07:23 - 06/17/2024 Baghdad - Mawazine News Advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Monday, that Iraq ranked distinguished among international groups that follow the best banking compliance systems, which makes it safe from any international financial risks, noting that the international community also praised the solidity of the financial and banking system.

Saleh said, “Cash issuance mechanisms are one of the exclusive powers of the Central Bank of Iraq as it is the issuing bank based on its Law No. 56 of 2004,” indicating that “what is published here and there about problems in cash liquidity is far from the solid institutional basis of the monetary authority in Iraq, which It is considered one of the most important authorities concerned with the issues of the availability of cash liquidity and the stability of the payments system, which contributes to the sustainability of the stability of transactions in the national economy.”

He added, "Managing cash liquidity, building the monetary foundation, and controlling liquidity levels in the country are subject to the principle of a long-term plan that is consistent with achieving the operational objectives of monetary policy in order to achieve the intermediate goals of stability and sustainable economic growth and determine the stability of long-term cash flows."

He stated that "Iraq occupies a distinguished rank among the international financial groups that follow the best international banking compliance systems, which makes our country safe from any international financial risks," pointing out that "Iraq is a cornerstone of regional and international financial cooperation institutions in the scope of combating money laundering and money laundering crimes." Crime and terrorism."

He stated that "Iraq recently received clear, positive praise for its strong anti-money laundering policies at the Financial Action Organization conference for the Middle East and North Africa region, which was held in the Kingdom of Bahrain, and it is a testimony from the international financial community that confirms the solidity of the financial and banking system in Iraq with the principles of compliance and the integrity of financial and banking operations." https://www.mawazin.net/Details.aspx?jimare=249866

Oil Clarifies The Details Of The Memorandum Of Understanding Signed With The American Honeywell

Posted On06-18-2024 By Sotaliraq The Ministry of Oil explained the details of the memorandum of understanding signed with the American company Honeywell to develop refineries, and while it indicated the Prime Minister’s directive to prepare a study to establish a pipeline network adjacent to the development road, it revealed projects that will enter service soon related to raising refining capacity.

Deputy Minister of Oil for Refining Affairs, Hamid Al-Zobaie, said, “There is a memorandum of understanding signed by the Minister of Oil under the auspices of the Prime Minister with Honeywell, which is one of the large specialized companies with extensive work in all activities,” noting that “a workshop was held with the company.” Concerning refinery activity.”

Al-Zobaie explained, “The memorandum that was signed aims to develop projects for developing refineries and to meet what was directed by the Prime Minister regarding the refinery capacity reaching 40 percent of the crude oil production capacity,” noting that “raising the refinery capacity to 40 percent will add value to the crude oil produced and lead to To raise financial returns and thus support the national economy.”

He pointed out that “7 projects were discussed regarding refineries, with a capacity of 70 thousand barrels for each project, in the governorates of Maysan, Dhi Qar, Muthanna, and Najaf Al-Ashraf, in addition to the third unit in the Doura, Haditha, and Qayyarah refineries.”

He pointed out that “the ministry’s plan was presented and discussed extensively with Honeywell during the workshop held, and it is hoped that a complete vision will be presented by the company regarding the process of developing the refineries with the proposed capabilities during the next two weeks.”

He added, “Honeywell is known for its technical and technological expertise and capabilities, which is important for gaining and transferring expertise to national cadres and developing facilities,” stressing that “after completing the preparation of the projects, the implementation mechanism and time periods for their completion will be determined.”

He noted that “the Prime Minister paid great attention to the refinery sector through development and raising the capabilities of refineries due to its great economic importance,” indicating that “great achievements have occurred in the refinery sector during the past short period, represented by the completion of the fourth unit in the South Refinery, which added 70,000 barrels of refining capacity,

in addition to About the Al-Azmra unit in the same southern refineries, which will be opened very soon, as it added about 1,200 cubic meters of high-octane gasoline, as well as the completion of the Al-Azmra unit in the Doura refinery and the rehabilitation of the North refinery in record time, which added refining capacity of up to 150,000 barrels.

He continued: “During the next few days, the CCR unit in the North Refinery will enter service and will add approximately 3,000,000 liters of high-octane gasoline. The Izmora unit in the North Refinery has also been operated,” stressing that “all of these projects were completed in very short periods.”

He continued, “The upcoming projects, which will enter service soon, will be a contributing factor in raising refining capacities and filling the local consumer need for some products, including the FCC unit in the southern refineries, as it is hoped to be completed in the first half of next year, as it will add gasoline production.”

High octane by 4,000 cubic meters to 4,000,000 cubic liters, and we also have projects for refining capacity additions in the Haditha refinery, during the current quarter of the current year, adding 20,000 barrels.”

He pointed out, “The Prime Minister directed the Ministry of Oil to prepare a study that includes establishing a pipeline network adjacent to the development road that meets all the future strategic plans of the Ministry of Oil, from the fields to the transportation process, in order to facilitate the process of transporting crude oil and gas between the north and the south, as well as export ports.” LINK

Iraq Is The First Arab Country In Developing Oil Pipelines

Energy Economy News _ Baghdad Iraq ranked first as the most developed Arab country for oil pipelines, according to data issued by the specialized Global Energy Monitor platform, until May 2024.

The Arabian Gulf is among the most important regions witnessing oil pipeline construction projects globally, in light of the leadership role it plays in the global market and its possession of huge crude reserves.

Iraq topped the list of the most developed Arab countries for oil pipelines, and the oil pipeline projects - proposed and under construction - reach 3.83 thousand kilometers, divided between 75 kilometers under construction and 3.756 thousand kilometers proposed.

The marine export pipeline project, with an investment cost of $416.9 million, is scheduled to be implemented during the years 2024 and 2025, and will be implemented by the Dutch company Royal Boskalis.

This comes as the country implements plans to increase its oil production to 8 million barrels per day by 2027, contributing to Iraq topping the list of the most developed Arab countries for oil pipelines.

It is noteworthy that Iraq has about 15 lines for transporting oil, with a length of 2.09 thousand miles, and 10 lines with a length of 1.53 thousand miles for transporting petroleum derivatives, according to data issued by the Organization of Arab Petroleum Exporting Countries (OAPEC). 99 views 06/18/2024 - https://economy-news.net/content.php?id=44389

Basra Oil Prices Fall

Economy | 06/18/2024 Baghdad - Mawazine News The prices of Basra heavy and medium crude oil decreased today, Tuesday, in conjunction with the decline in global oil prices.

Basra Heavy crude prices fell by 14 cents, reaching $79.48, while Basra Medium crude prices fell by 14 cents, reaching $82.69.

It is noteworthy that global oil prices declined today, after recording gains in the previous session, as markets remained cautious about the prospects for global demand growth amid expectations of increased supplies. https://www.mawazin.net/Details.aspx?jimare=249875

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

True knowledge comes only through suffering. -Elizabeth Barrett Browning

Suffering raises up those souls that are truly great; it is only small souls that are made mean-spirited by it. -Alexandra David-Neel

He disposes Doom who hath suffered him. -Emily Dickinson

uffering has always been with us, does it really matter in what form it comes? All that matters is how we bear it and how we fit it into our lives. -Etty Hillesum

We are healed of a suffering only by experiencing it to the full. -Marcel Proust

Those who have suffered understand suffering and therefore extend their hand. -Patti Smith

The saints rejoiced at injuries and persecutions, because in forgiving them they had something to present to God when they prayed to Him. -Teresa of Avila

The difficulties and struggles of today are but the price we must pay for the accomplishments and victories of tomorrow. -William J. H. Boetcker

Experience may be hard but we claim its gifts because they are real, even though our feet bleed on its stones. -Mary Parker Follett

And I think that's important, to know how the water's gone over the dam before you start to describe it. It helps to have been over the dam yourself. -E. Annie Proulx

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

Goldilocks' Comments and Global Economic News Tuesday AM 6-18-24

Good Morning Dinar Recaps,

Stellar: Blackrock and Franklin Templeton Fuel Tokenized Treasury|Crypto News Flash

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JUST IN: Cryptocurrency Earthquake at SEC - Head of Crypto Unit Resigns - Bitcoin Sistemi |Bitcoin Sistemi

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June 17, 2024 Goldilocks'Daily Breakdown PodcastLink

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Mastercard Collaborates with Thought Machine to Modernize Banking |Finance Magnates

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TNT:

Tishwash: Basra's wish: The stability of the governorate makes it an attractive city for international companies

The security committee in the Basra Governorate Council confirmed the stability of the security situation in the governorate.

Tishwash: Iraq is the first Arab country in developing oil pipelines

Iraq ranked first, as the most developed Arab country for oil pipelines, according to data issued by the specialized Global Energy Monitor platform, until May 2024.

The Arabian Gulf is among the most important regions witnessing oil pipeline construction projects globally, in light of the leadership role it plays in the global market and its possession of huge crude reserves.

Iraq topped the list of the most developed Arab countries for oil pipelines, and the oil pipeline projects - proposed and under construction - reach 3.83 thousand kilometers, divided between 75 kilometers under construction and 3.756 thousand kilometers proposed.

The marine export pipeline project, with an investment cost of $416.9 million, is scheduled to be implemented during the years 2024 and 2025, and will be implemented by the Dutch company Royal Boskalis.

This comes as the country implements plans to increase its oil production to 8 million barrels per day by 2027, contributing to Iraq topping the list of the most developed Arab countries for oil pipelines.

It is noteworthy that Iraq has about 15 lines for transporting oil, with a length of 2.09 thousand miles, and 10 lines with a length of 1.53 thousand miles for transporting petroleum derivatives, according to data issued by the Organization of Arab Petroleum Exporting Countries (OAPEC). link

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CandyKisses: Shameless and unacceptable statements... Al-Sahhaf calls for restraining the American ambassador

Information / Baghdad.

The spokesman for the popular legal movement, Mohammed Al-Sahaf, on Tuesday, rejected the US trusteeship over Iraq, calling on the government to rein in the new US ambassador Tracy Jacobson.

Al-Sahhaf said in a statement to the Information Agency that "the new US Ambassador Tracy Jacobson's provocative statements have floated a set of UN resolutions."

He added that "the intervention of the new Washington ambassador to Baghdad is negative and reprehensible and a clear interference in the affairs of a sovereign state," noting that "the Iraqi people reject the American trusteeship of Iraq."

"The US ambassador's statements are rude and unacceptable, and it is not the Iraqi people who are subject to US tutelage," he said.

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Tishwash: Parliamentary Legal: Representatives enjoy vacation and there is no emergency session

The head of the Legal Committee in the House of Representatives, Rebwar Hadi, confirmed today, Monday (June 17, 2024), that there will be no emergency session to elect a Speaker of the House of Representatives.

Hadi told "Baghdad Today", "Members of Parliament are now enjoying the legislative recess, and there is no talk of an emergency session regarding the election of a Speaker of Parliament."

He added, "The issue of choosing a speaker for parliament requires political consensus, and there is no consensus yet regarding choosing the president."

It is noteworthy that the position of presidency of the House of Representatives has been vacant for more than 7 months, with the House failing more than once to elect a president due to the lack of consensus among the Sunni forces in electing one of the candidates.

In the latest developments in the file, the representative of the Al-Fatah Alliance, Mukhtar Al-Moussawi, confirmed on (June 9, 2024) the existence of a political consensus to resolve the election of the Speaker of the House of Representatives after the Eid Al-Adha holiday.

Al-Moussawi told "Baghdad Today", "There is a political consensus to resolve the election of the Speaker of the House of Representatives after the Eid al-Adha holiday, and there is no intention to keep Mohsen al-Mandalawi on the part of any party in the coordination framework." link

Iraq Economic News and Points To Ponder Tuesday AM 6-18-24

The Prime Minister's Advisor Confirms That The Country Is Protected From Any International Financial Risks

Sweeteners - 06-17-2024 09:53 PM - Number of views: 178 Advisor to the Prime Minister, Mazhar Muhammad Salih, confirmed today, Monday, that Iraq ranked distinguished among international groups that follow the best banking compliance systems, which makes it safe from any international financial risks, noting that the international community also praised the solidity of the financial and banking system.

Saleh said, “Cash issuance mechanisms are one of the exclusive powers of the Central Bank of Iraq as it is the issuing bank based on its Law No. 56 of 2004,” noting that “what is published here and there about problems in cash liquidity is far from the solid institutional basis of the monetary authority in Iraq, which is... “One of the most important authorities concerned with the issues of the availability of cash liquidity and the stability of the payments system, which contributes to the sustainability of the stability of transactions in the national economy.”

He added,

"Managing cash liquidity,

building the monetary foundation, and

controlling liquidity levels in the country

are subject to the principle of a long-term plan that is consistent with achieving the operational objectives of monetary policy in order to achieve the intermediate goals of stability and sustainable economic growth and determine the stability of long-term cash flows." He stated that

"Iraq occupies a distinguished rank among the international financial groups that follow the best international banking compliance systems, which makes our country safe from any international financial risks," pointing out that

"Iraq is a cornerstone of regional and international financial cooperation institutions in the scope of combating money laundering and money laundering crimes." Crime and terrorism.” He stated that

"Iraq recently received clear, positive praise for its strong anti-money laundering policies at the Financial Action Organization conference for the Middle East and North Africa region, which was held in the Kingdom of Bahrain, and

it is a testimony from the international financial community that confirms the solidity of the financial and banking system in Iraq with the principles of compliance and the integrity of financial and banking operations.". https://www.dijlah.tv/index.php?page=article&id=347120

Oil Reveals Important Details Related To The Imminent Halt Of Gasoline Imports From Abroad - Urgent

Economy | Today, 15:25 |Baghdad Today – Baghdad Today, Monday (June 17, 2024), the Undersecretary of the Ministry of Oil for Refining Affairs, Hamid Al-Zobaie, revealed important details related to the imminent halt of gasoline imports from abroad. Al-Zubaie told "Baghdad Today",

"The Ministry of Oil has currently been able to stop importing more than half of the amount of foreign gasoline we import." He added,

"Iraq previously imported an amount of gasoline amounting to 14 million liters,

but after the Karbala refinery entered work, it contributed to the production of 7 million liters of high-octane gasoline,

which contributed to the decrease in half of the imported gasoline."

Al-Zubaie stated, “The entry of the North Refinery to work, in addition to the fact that the 20th of this month will witness the opening of the CCR unit in the North Refineries, which will contribute to the entry of local quantities of gasoline amounting to three and a half million liters of gasoline, and

this will reduce the imported quantities, as Iraq will remain.” It imports a quantity of up to three and a half million liters, and

these quantities can be covered this year if the rest of the proposed projects are opened.”

It is noteworthy that the country's filtration sector has recently witnessed the opening of a number of important projects, including the Karbala and Baiji refineries, the fourth unit, and the Al-Izmara unit in the South Refinery,

in addition to the fact that there is a large project in Basra Governorate, which is the FCC project, which is scheduled to be completed next year to be a great addition to the filtration sector.

https://baghdadtoday.news/251656-النفط-تكشف-تفاصيل-مهمة-تتعلق-بقرب-إيقاف-استيراد-البنزين-من-الخارج-عاجل.html

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

How sublime a thing it is to suffer and be strong. -Henry Wadsworth Longfellow

He disposes Doom who hath suffered him. -Emily Dickinson

They merit more praise who know how to suffer misery than those who temper themselves in contentment. -Pietro Aretino

Character cannot be developed in ease and quiet. Only through experience of trial and suffering can the soul be strengthened, vision cleared, ambition inspired, and success achieved. -Helen Keller

Never to suffer would have been never to have been blessed. -Edgar Allan Poe

It is somehow reassuring to discover that the word "travel" is derived from "travail," denoting the pains of childbirth. -Jessica Mitford

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.htm

Iraq Dinar - IQD Update - Liberation of Economy - 6.5 Billion Dinars ($4.9 Billion USD) - Al-Sudani

MilitiaMan and Crew: 6-17-2024

The Crew: Samson, PompeyPeter, Petra, Daytrader, Sunkissed, GIGI and Militia Man

Be sure to listen to full video for all the news……..

https://www.youtube.com/watch?v=X2mdmvh_Yrg

Goldilocks' Comments and Global Economic News Monday Evening 6-17-24

Good Evening Dinar Recaps,

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E140: What Really Happens to Infinite Banking if the Dollar Collapses or Hyperinflation |Living

👆 Goldilocks pointed to this article

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Goldilocks' Comments and Global Economic News Monday Afternoon 6-17-24

Good Evening Dinar Recaps,

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Open Banking |Youtube

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Web 3 |Youtube

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Dollar Dominance in the International Reserve System: An Update |IMF

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This New S&P 500 Artificial Intelligence (AI) Stock Is Growing 5 Times Faster Than Its Industry |The Motley Fool

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XRP Announcement:

A reliable currency-converting resource lists XRP as a currency alongside Bitcoin (BTC) and Ethereum (ETH), stirring discussions within the community. |

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"Don't Buy Into This Crap", Catherine Austin Fitts Warns "AI Is Digital Control" |ZeroHedge

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There’s a fake petrodollar news story doing the rounds that Saudi Arabia and the U.S. had a 50-year contract in which Saudi agreed to settle all its oil sales in U.S. dollars. Supposedly, this is meant to foreshadow the end of dollar dominance and is good for cryptocurrency prices. Except there was no such deal. |Ledger Insights

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👆The dollar is being used less and less. I just wanted to update you on a news story that was found to be fake.

© Goldilocks

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Iraq Economic News and Points To Ponder Monday Afternoon 6-17-24

Iraq Contracts With An American Company To Develop Oil Refineries

Economy | 04:16 - 06/17/2024 Baghdad - Mawazine News The Ministry of Oil clarified on Monday the details of the memorandum of understanding signed with the American company Honeywell to develop refineries.

Deputy Minister of Oil for Refining Affairs, Hamid Al-Zobaie, said in a statement received by Mawazine News, “There is a memorandum of understanding signed by the Minister of Oil under the auspices of the Prime Minister with Honeywell, which is one of the large specialized companies with extensive work in all activities,” noting. To "conduct a workshop with the company regarding refinery activity."

Al-Zobaie explained, “The memorandum that was signed aims to develop projects for developing refineries and to meet what was directed by the Prime Minister regarding the refinery capacity reaching 40 percent of the production capacity of crude oil,” noting that “raising the refinery capacity to 40 percent will add value to the crude oil produced and lead to To raise financial returns and thus support the national economy.”

He pointed out that "7 projects were discussed regarding refineries, with a capacity of 70 thousand barrels for each project, in the governorates of Maysan, Dhi Qar, Muthanna, and Najaf Al-Ashraf, in addition to the third unit in the Al-Dawra, Haditha, and Qayyarah refineries."

He pointed out that "the Ministry's plan was presented and discussed extensively with Honeywell during the workshop held, and it is hoped that a complete vision will be presented by the company regarding the process of developing the refineries with the proposed capabilities during the next two weeks."

He added, "Honeywell is known for its technical and technological expertise and capabilities, and it is important for gaining and transferring expertise to national cadres and developing facilities," stressing that "after completing the preparation of the projects, the implementation mechanism and time periods for their completion will be determined."

He noted that "the Prime Minister paid great attention to the refinery sector through development and raising the capabilities of refineries due to its great economic importance," noting that "great achievements have occurred in the refinery sector during the past short period, represented by the completion of the fourth unit in the South Refinery, which added 70,000 barrels of refining capacity, in addition to...

About the Al-Azmra unit in the same southern refineries, which will be opened very soon, as it added about 1,200 cubic meters of high-octane gasoline, as well as the completion of the Al-Azmra unit in the Doura refinery and the rehabilitation of the North refinery in record time, which added refining capacity of up to 150,000 barrels.

He continued, "During the next few days, the CCR unit in the North Refinery will enter service and will add approximately 3,000,000 liters of high-octane gasoline. The Izmora unit in the North Refinery has also been operated," stressing that "all of these projects were completed in a very short period of time."

He continued, "The upcoming projects, which will enter service soon, will be a contributing factor in raising refining capacities and filling the local consumer need for some products, including the FCC unit in the southern refineries, as it is hoped to be completed in the first half of next year, as it will add gasoline production.

" High octane capacity of 4,000 cubic meters to 4,000,000 cubic liters, and we also have projects for refining capacity additions in Haditha refinery, during the current quarter of this year, adding 20,000 barrels.”

He pointed out, "The Prime Minister directed the Ministry of Oil to prepare a study that includes establishing a pipeline network adjacent to the development road that meets all the future strategic plans of the Ministry of Oil from the fields to the transportation process, in order to facilitate the process of transporting crude oil and gas between the north and the south, as well as export ports."

https://www.mawazin.net/Details.aspx?jimare=249856

Among Them In Iraq...The Most Prominent Global Oil And Gas Discoveries In 2024

Money and business Economy News - follow up Global oil and gas discovery volumes in April 2024 fell by 76% month-on-month, with Latin America and the Caribbean accounting for the majority of new volumes discovered.

The global total volumes of discovered gas and oil liquids reached 230 million barrels of oil equivalent in April 2024, according to recent data.

In contrast, global oil and gas discovery volumes saw a slight increase of 0.9%, compared to total discoveries of 228 million barrels of oil equivalent in the same month of 2023.

Oil liquids constituted the majority of the volumes discovered in April 2024, at 89%, equivalent to 200 million barrels of oil equivalent, while the percentage of gas volumes discovered was 11%, equivalent to 5 billion cubic metres.

Volumes Of Global Oil And Gas Discoveries In 2024

During the first 4 months of 2024, the total volumes of global oil and gas discoveries reached 1.7 billion barrels of oil equivalent, up from 1.2 billion barrels of oil equivalent during the same period in 2023, according to the monthly report, recently issued by the Gas Exporting Countries Forum.

Last month, 8 new gas and oil discoveries were announced, 4 of which were offshore.

Regionally, Latin America and the Caribbean dominated new discoveries in April with 47%, mostly in Brazil and Colombia.

While Africa represented 33% of the volume of global oil and gas discoveries last April, followed by the Asia-Pacific region with 12%, then Europe with a share of 8%.

Most Notable Discoveries

The most notable global oil and gas discovery announced in April 2024 was the onshore Chutadoro gas field in Colombia, with recoverable reserves estimated at 3.2 billion cubic metres.

The UAE's Mubadala Energy Company has made another landmark gas discovery in Indonesia, this time in Tangkulu, located in the South Andaman region, with recoverable reserves of more than 55 billion cubic metres.

This new discovery by Mubadala Energy, which follows the Liaran discovery in December 2023, would make the South Andaman region one of the most promising gas regions in the world.

Iraqi licenses and Korean exploration

One of the most prominent recent developments in the oil and gas exploration sector is the launch by the Iraqi Ministry of Oil of the sixth oil and gas licensing round, the first round in the country since 2018, according to what the Energy Research Unit reviewed.

The tour includes a total of 29 onshore areas for oil and gas exploration in 12 governorates, with the aim of attracting investments in these areas.

According to estimates, expected gas production from new Iraqi oil and gas licensing rounds - which have witnessed Chinese dominance - will reach 8.3 billion cubic meters annually.

In the same context, South Korea launched a new exploration campaign to explore oil and gas in the depths of the East Sea, according to what was monitored by the Energy Research Unit.

The South Korean President announced that there is a high probability of discovering up to 14 billion barrels of oil equivalent (boe) of oil and gas resources off the coast of Yongil Bay, near the city of Pohang.

If these discoveries are successful, the results of which are expected to be confirmed during the first half of 2025, they could meet South Korea's gas consumption needs for up to 29 years, and oil consumption for 4 years. 98 views 06/17/2024 - https://economy-news.net/content.php?id=44373

Oil Prices Exceed $83 Per Barrel

Economy | 04:45 - 06/17/2024 Baghdad - Mawazine News International oil prices stabilized above $83 per barrel in trading by 4 p.m. Baghdad time.

The price of Brent crude futures reached $83.09 per barrel, up by about 1% from yesterday’s prices.

While the price of American crude reached $78.82 per barrel, rising in the same manner from yesterday’s close. https://www.mawazin.net/Details.aspx?jimare=249857

To read more current and reliable Iraqi news please visit :https://www.bondladyscorner.com/

Provoking Thoughts and Points To Ponder On Adversity:

Pain makes man think. Thought makes man wise. Wisdom makes life endurable. -John Patrick

Time engraves our faces with all the tears we have not shed. -Natalie Clifford Barney

Suffering raises up those souls that are truly great; it is only small souls that are made mean-spirited by it. -Alexandra David-Neel

To live is to suffer, to survive is to find some meaning in the suffering. -Roberta Flack

If you suffer, thank God! It is a sure sign that you are alive. -Elbert Hubbard

Suffering is also one of the ways of knowing you're alive. -Jessamyn West

http://famousquotesandauthors.com/topics/adversity_quotes.html

http://famousquotesandauthors.com/quotes_by_topic.html

TNT:

More than 100 suspended laws in the Iraqi Parliament

Member of the Parliamentary Legal Committee, Muhammad Anouz, revealed on Sunday that the Iraqi Parliament is suffering from the disruption of more than 100 laws, including important laws that were withdrawn by the government to make amendments to them.

Anouz told Shafaq News Agency, “Among the suspended laws are the Flag Service Law, the National Oil Company Law, and the Federal Civil Service Law, in addition to many other laws.” He added, "These laws were withdrawn in an official letter by the government with the aim of amending them."

Anouz explained that "other important laws that suffer from obstruction in the House of Representatives are halted for political and technical reasons, including the General Amnesty Law and the Federal Court Law."

He expressed his hope that "these laws will be passed during the next legislative term. link

Tishwash: Al-Badri: America is using pressure cards to maintain the presence of its forces in Iraq

Political analyst Saeed Al-Badri said on Monday that Washington continues to use pressure cards against Baghdad in order to perpetuate the presence of its forces inside Iraq and the region.

Al-Badri told Al-Maalouma, “The American administration has no seriousness in removing its forces from Iraq, as it is using pressure cards in order to perpetuate the presence of its forces in Iraqi camps and lands.”

He added, "The government's position must be clear by dropping the pressure cards used by the American administration."

He stated that "the presence of American forces inside Iraq raises concern, and is considered a destabilizing factor for the entire region." link

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Tishwash: Iraq Seeks to Boost Economic Ties with Lebanon, Syria

The head of Iraq'sNational Investment Commission (NIC), Dr. Haidar Mohammed Makkiya, has met with the Lebanese Minister of Economy and Trade, Mr. Amin Salam. During the meeting, Makiya affirmed Iraq's desire to expand cooperation in the investment sector.

The NIC chairman stated that the Iraqi government aims to achieve integration in economic and trade relations between Iraq and regional countries, including Lebanon.

The meeting included discussion of the project to rehabilitate the existing oil pipelines between Syria and Lebanon, with investment funding by the Iraqi side, while safeguarding the sovereignty of both countries and working on extending an Arab optical fiber communications network.

He added that the commission works to provide an attractive investment environment for businessmen and foreign investors through the implementation of the amended Investment Law No. 13 of 2006, which guarantees investors' rights. The law also offers necessary advantages and facilities to ensure the success of investment projects.

For his part, the Lebanese minister expressed his government's readiness for joint work to develop the sector in vital areas. link

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CandyLisses: Iraq is preparing to establish a project that changes the oil map. Does it affect energy producers?

Economy News - Baghdad

Iraq's budget for the current year 2024 allocated an amount of $4.9 billion to establish a pipeline that extends from Basra in the far south of Iraq on the waters of the Gulf, to a city of Hadithi, located in the far west of Iraq within the Anbar border province with Jordan and Syria, which means the return of life to the Iraq-Jordan project, which has been witnessing political opposition inside Baghdad for years, and the export of Iraqi oil through Jordan to the world through the Mediterranean, considering that the project was mainly related to the construction of the oil pipeline through two stages, the first to Haditha, which is the longest, and the second to enter the neighboring Jordanian territory.

The project has for years witnessed controversy over economic feasibility, along with opposition from political and armed forces and parties allied to Tehran, describing the project as allowing Iraqi oil to reach the Israeli occupation, but the proposals provided by oil economists and experts confirm that opening a third export outlet for Iraq other than the waters of the Arabian Gulf and Turkey will give Iraq an advantage over Iran and Saudi Arabia in terms of export diversity, especially in times of military and political tensions in the Middle East.

Iraqi Oil Ministry adviser Ahmed Al-Omar said that the arrival of the pipe to Hadith, western Iraq, means the possibility that Iraq will transport its oil not only through Jordanian territory and then Aqaba, but also through the Syrian port of Baniyas. Al-Omar added that “the project will change the map of the oil industry and its production in the region and give Iraq a great advantage over other oil neighbors.” By approving the amount allocated for the start of the project, according to age, the government will start working on the implementation phase, stressing that Iraqi companies will work on it, and the pipe will be implemented through the Iraqi Ministry of Industry as well.

a strategic project

The Director General of the Oil Projects Company, Ali Ward Hammoud, said, “The Oil Pipeline Project in Hara is considered one of the most important strategic projects of the oil movement in Iraq, and it enhances the economy by enabling the country to export oil through new outlets.”

He added that "oil produced from the southern fields is exported through our ports and loading points overlooking the Gulf, which is the only outlet for most Iraqi oil currently, and with the presence of geopolitical challenges in the region, the Ministry of Oil has taken it upon itself to diversify the export outlets, as it has prepared during the past decade a study of the northern export system with the help of the most important international consulting companies and develop appropriate plans to develop new export outlets to serve the expansion of oil production in the country through licensing rounds offered by the Ministry.”

He continued that "a modern Basra pipe falls within this trend, and the size of the tube is 56 knots, and a card that provides the export of two million and 250 thousand barrels per day, and it will be manufactured by Iraqi hands, and the bulk of it will be made by the Iron and Steel Company of the Ministry of Industry. It provides new export outlets for Iraqi oil to the countries of Europe and North America, in line with the development road project and the government's endeavor to make it a corridor for global energy, in addition to its role in transporting goods between East and West."

He stressed that “there is an intention to connect the pipeline in the future to the port of Tartus on the Mediterranean, after the achievement of the appropriate security conditions in Syria, through a pipeline that is established for this purpose and connects a modern warehouse to the port of Tartus,” according to him.

Iraq towards new markets

According to Iraqi political sources, the beginning of the project was in 1983, when the Iraqi and Jordanian sides agreed to extend a pipeline from Basra to the port of Aqaba on the Red Sea, passing through Jordanian territory. At the time, the two sides demanded guarantees by the United States so that Israel should not target the pipe.

The sources state that the Sudanese government of Mohamed Shiaa is seeking to start the project as soon as possible, because the pipe represents a new type of Iraqi energy export outlet, specifically oil, and it also offers the opportunity for Iraqi oil to reach new markets in Europe, as well as economic gains and sustainable and diversified financial returns, in addition to participation and investment in international manufacturing sectors.

Although the financial budget of Iraq for this year included the new pipeline project with an estimated amount of 6.5 billion Iraqi dinars ($4.9 billion), the deputies of Basra Governorate confirmed that they would obstruct the project.

A member of the Iraqi Council of Representatives, Hadi Al-Salami, said that “the strange thing in this project is that he was rejected by most Iraqi parties during the period of Mustafa Al-Kadhimi's (previous) government, but the parties themselves currently agree with it, and we do not know what the reasons, especially that the information is scarce about it, and we do not know the reasons for the government's secrecrecy on it.”

Al-Salami explains that “politicians and deputies in Iraq do not have enough information about the pipe project, and we are demanding to know the economic feasibility of the project from the point of view of the government.”

The consultant in the international transport economy Ziad Al-Hashemi pointed out that "the Basra-Aqaba pipeline project is a strategic project to raise the level of cooperation between Iraq, Jordan and Egypt, and enhance the level of inter-regional relations, whether political, security and economic, and that the passage of the oil pipeline through a regional state such as Jordan, will not exploit this pipe to pressure Iraq in the future, and this ensures the smooth flows of Iraqi oil flows without hinderance."

Al-Hashemi continues by saying that “the project raises fears of exploiting the line in the Israeli entity’s repliement of Iraqi oil in response to assumed Western requirements or pressures.”

Al-Hashemi added that "one of the problems that may face the project is the rejection by some regional pivotal countries to hinder Iraq's attempts to diversify Iraqi oil export ports to the West, in addition to security pressures and problems in stability, which are still an obstacle to the completion and success of any Iraqi project, not to mention the possibility of opening new outlets for corruption inside and outside Iraq because of the high cost of construction."

In turn, oil expert Kovnd Shirwani considered that “the modern Basra oil pipeline project falls within the framework of the first phase of a project that extends to the port of Aqaba in the Mediterranean, which will provide a new export outlet for Iraq.”

He continued that “we also believe that it is necessary to revive the Kirkuk-Ceyhan line, which was transporting up to 400,000 barrels per day, in addition to an investment possibility in the transport of Nineveh and Salahuddin oil and a card that could reach up to one million barrels per day, which provides important export outlets to Iraq.”