Changes in production capacities and rates in the Gulf in preparation for sanctions on Iran


LONDON (Reuters) – Saudi Arabia and the United Arab Emirates are preparing to increase their oil production to cope with the impact of long-term US sanctions on Iran, while Iraq is quietly and steadily increasing its output to compensate the three countries for a large share of Iran’s export market. Disturbances of other major producers.

US President Donald Trump’s eight-nation exemption to trade ties based on Iranian oil imports was a key tool for the US administration to keep prices low.

But the United States and its allies seem to be dealing with the new sanctions package as a reality for years to come. The sanctions will come into effect starting today, after Trump announced in May his country’s withdrawal from the nuclear deal signed with Iran in July 2015.

The attention is directed to Saudi Arabia as the only producer with significant spare production capacity estimated at 2 million barrels, which the kingdom may resort to to compensate for the shortfall resulting from US sanctions on Iran.

Saudi Energy Minister Khalid al-Falih said his country, which increased its daily production by 700,000 barrels to 10.7 million barrels in October, is ready to increase further to a production rate of 12 million barrels.

The Abu Dhabi National Oil Company (ADNOC) said in a statement on Sunday that it plans to increase oil production capacity to 4 million barrels per day by 2020 and to 5 million barrels per day by 2030.

The company explained that the Supreme Petroleum Council adopted ADNOC’s comprehensive gas strategy to achieve self-sufficiency and its plan for capital investments between 2019 and 2023.

“We held the meeting of the Supreme Petroleum Council and approved 486 billion dirhams ($ 132.33 billion) in investments to support ADNOC’s growth and expansion projects in the next five years,” Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed Al Nahyan said in his Twitter account.

The UAE is a major OPEC producer, pumping around three million barrels per day of crude oil and plans to increase production capacity to 3.5 million bpd by the end of this year.

The policy of the two countries not only depends on increasing production based on strategic reserves, but also involves increasing production capacity by injecting new investments,

Construction of transmission lines, refineries and infrastructure development on which export operations depend.

Officials in the two countries are trying to predict the future, with market volatility caused by instability in Libya, Venezuela, Nigeria, Angola and Mexico, as well as a lack of clarity on the future of Iranian oil exports. “There are sanctions against Iran and no one knows what Iranian exports will be,” he said.

Iraq has also increased its production in a policy of trying to regain its historic share of the market, but this time at the expense of Iran, despite its strong influence on Baghdad.

“Everyone is talking about Saudi Arabia, but the country’s exports are stable around 10 million barrels a day,” said Samir Madani, an analyst at the Tanker Tracks, a specialist in tracking satellite tankers. “The real rise is Iraq, 4.2 million barrels

Today, an amount he has never seen before. “

The United States relies on temporary exemption policies to hit two birds with one stone. On the one hand, the resolution will allow US allies to continue importing small amounts of Iranian oil, but at the same time their profits will not turn into cash that could enable the Iranian regime to move forward with policies to support armed militias in Yemen, Iraq, Syria and Lebanon.

“Letting these countries continue to buy small quantities of Iranian oil is fair in the eyes of the White House, because in the end it will not be of much benefit to Iran,” said Henri Rom, an Iran analyst at the Eurasia Research Group. Will remain a ceiling for prices. “
” Iran’s oil will not be easily translated into cash that the Iranian regime can use in its regional policies. These funds will be transferred to bank accounts that will be opened in tax havens and spent on supplies of food, essential goods and some commercial activities,” he said.

This new dynamic in dealing with Iranian oil exports is close to the “oil-for-food” policy that was applied to Iraq during the 1990s under UN supervision. This means that the amounts Iran will receive from the export of oil outside the black market will be tightly controlled, especially the ways of its subsequent disbursement.

“These financial constraints will double the impact of Trump’s pressure, even if Iran continues to export oil to buyers around the world,” said Mark Dubovic, executive director of the Foundation for the Defense of Democracies. “In order to reach zero cash profits, it is not necessary to reach zero barrels of oil.”

Indeed, Iranian exports have fallen by 800,000 barrels from their fixed quota of 2.5 million bpd since the signing of the nuclear deal in 2015. The package of sanctions, which will come into effect today, could drop exports to between 1.2 and 1.3 million bpd, Especially as the European countries have adhered to it, and Chinese companies have continued to stop their orders from Iran.

This equation introduced Iran on the one hand and Saudi Arabia, the United Arab Emirates and their allies on the other, in an unaccounted oil game. Iranian officials are betting on market instability to overcome US sanctions, while Riyadh and Abu Dhabi are working to ensure stability.

The Arabs


Iran launches massive military exercises


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TEHRAN (Reuters) – Iran’s Revolutionary Guards and the Iranian army are to begin maneuvering on an area of ​​500,000 square kilometers in the north, east, west and center of the country on Monday.

The military exercises bear the slogan “defenders of the skies of the state 2018.”

The deputy commander of the Iranian army, Admiral Habibullah Sayari, said that missile systems will be tested during the exercises.

Syari said the joint exercises will last for two days with the participation of “Khatam Al-Anbiya Air Defense Headquarters”, “the Guards’ Air Force” and “the Air Force of the Army”.

On the objectives of the maneuvers, the deputy commander of the Iranian army stressed that the armed forces should always be ready to defend the water, soil and atmosphere of the country. He pointed out that the headquarters of Khatam al-Anbiya was established for air defense in order to guarantee the security of the atmosphere of the Islamic homeland. The army has a responsibility in this regard.

The Iranian military official said that the aim of the exercises is to upgrade the capability of the air defense units, where the testing of the skill of the associate, stressing that will test the systems of rockets and live ammunition homemade. End 25 n

Sources: Tuesday’s session will vote on only 6 ministers

Home / Top News Sources: Tuesday’s session will vote on only 6 ministers

 Journal News

Political sources said on Sunday that the parliament session scheduled for next Tuesday will vote on only 6 of the 8 ministers.

The sources said that Prime Minister Adel Abdul-Mahdi will present in the parliament next Tuesday, 6 ministers to grant confidence to them except the ministers of interior and defense.

She added that the political blocs so far did not reach an agreement on the candidates of the internal and defense portfolios, which will force Abdul Mahdi to run the ministries of the agency until the agreement to nominate permanent ministers of those ministries.

Is scheduled to hold parliament next Tuesday a session to vote on the remaining government Adel Abdul Mahdi.

Deputy for Asrun: The formation of parliamentary committees will begin after the completion of the ministerial cabin

Sunday, November 4, 2018 – 10:08 PM

MP of the alliance of Badr al-Zayadi
The MP for the alliance of Badr Zayadi alliance that the formation of parliamentary committees will begin after the formation of the completion of the ministerial cabin.

Zayadi said in a statement to Al-Marbad radio that the next parliament session scheduled to be held on Tuesday will be devoted to the completion of the ministerial cabin of Prime Minister Adel Abdul-Mahdi, after which the subject of parliamentary committees will be discussed to determine the head of each committee and vice-president as well as the decision.,15700022,15700124,15700149,15700186,15700191,15700201,15700214,15700230&usg=ALkJrhiFtnyWInvFro-FQW2tY-YK5BdNKg


21 dead and wounded in bombings hit Baghdad, the first security challenge to the government of Abdul Mahdi


21 dead and wounded in bombings Baghdad hit the first security challenge to the government of Abdul Mahdi
 Twilight News    
 26 minutes ago

Seven people were killed and 14 others injured Sunday in a series of bombings that shook the Iraqi capital Baghdad, according to a security source. 
The first explosion occurred in an explosive device in Aden Square near Kadhimiya, killing two people and wounding four others. 
According to the same source, one person was killed and two others were injured in a second bomb explosion inside a minibus to transport passengers in the area of ​​Habibiyah east of Baghdad. 
He pointed out that a third bomb went off in the flame area north of the capital, killing two people and wounded. While three people were wounded in a roadside bomb explosion near shops in the heritage district south of Baghdad. 
The fifth blast hit Sadr City in the carts of street vendors, killing three people and injuring them. 
No one claimed responsibility for the attacks immediately.
The blasts, which carry signs of an organization calling for the first escalation of security in the new government of Abdul Mahdi, which won the vote of parliament to 14 ministries out of 22.

Adel Abdul Mahdi, the defense and interior portfolios acting, after the parliament refused to give confidence to a number of ministers within the lineup presented in parliament.

The bombings come two days before a session of the Iraqi parliament, where he is expected to give Abdul Mahdi the rest of the cabinet ministers.

Urgent Asadi: The previous government canceled the increase in the salaries of the crowd a day before the formation of the new


Date of release: 2018/11/4 21:39 • 216 times read
BAGHDAD (Reuters) – A coalition of construction workers, Ahmad al-Asadi, announced on Sunday that the previous government had canceled the increase in the salaries of the popular crowd, one day before the new government was formed.
Asadi said in a televised speech that “the former Council of Ministers issued a resolution about two months ago, under which it increased the salaries of members and fighters of the popular crowd as of 1/10/2018,” noting that “this decision was canceled one day before the formation of the new Iraqi government.” 
He added that “the popular mobilization law voted by the House of Representatives provides for the equalization of salaries of members of the popular mobilization with their counterparts from the security forces, but the previous government did not abide by it for two years, and did not implement Article 52 of the General Budget Law 2017, Allocations to increase the salaries of the crowd. ” 
Al-Asadi stressed that “the application of the popular mobilization law is a duty of the previous and current governments and we will follow up the implementation of this law through our presence in the House of Representatives,” adding that “the issue of increasing the salaries of the popular crowd is the first exam for the new government.”

Iraq and Kuwait agree to build and equip 73 schools in Baghdad and the provinces

Iraq News Now


Baghdad / Al-Ghad Press:

The Ministry of Education announced on Sunday the agreement with Kuwait to build and equip 73 schools in Baghdad and the provinces.

The Ministry of Education, represented by a high-level delegation headed by Eng. Hassanein Fadel Maala, Director-General of Vocational Education and Head of the Project Management Team of Kuwait Loan, and Walid Al-Bahr, Director of Operations Department at the Fund, Kuwaiti. ”

According to the statement, “there is joint cooperation between Iraq and Kuwait to establish and equip (73) schools distributed in Baghdad and the provinces of Iraq and the amount of (80) million dollars.”

He added that “the project aims to support economic and social development in Iraq by raising the educational and vocational level of students in the primary and secondary levels, and contribute to reduce the phenomenon of the dual system, which leads to school dropout.

Urgent source of Euphrates: important changes in the candidates of the ministries postponed

Date of release: 2018/11/4 21:03

[Baghdad: Al-Furat News} An official source revealed that important changes have been made in the names nominated for filling the postponed ministries in the government of Adel Abdul Mahdi.

The source told the agency {Euphrates News} that “the withdrawal of the Ministry of Education from Khamis Khanjar leadership in the national axis and given to a candidate posed by Osama Nujaifi, head of the coalition decision.”

He added, “has been excluded party candidate solution to the Ministry of Defense and the granting of the position of the National Coalition nominated by its leader Iyad Allawi.”

The source pointed to “the withdrawal of the Ministry of Displacement and Migration of the Kurdistan Democratic Party and grant it to a Christian candidate of the Fatah Alliance, and withdraw the justice portfolio from the conquest and give it to the Patriotic Union of Kurdistan and his candidate Khaled Shawani.”

He added that “the candidate of the Ministry of Culture and the grant of Asaib Ahl al-Haq Directorate of Tourism and Antiquities has been excluded.”

The source stressed, “the exclusion of the candidate of the Fatah Alliance Faleh Fayadh to the Ministry of the Interior for rejection by the political blocs and the granting of the position of a personality close to the conquest.”

A Chinese company plans to sign an oil contract with Iraq at the upcoming Shanghai Expo

Economy News _ Baghdad

China’s Chinhua Oil is expected to agree to make arrangements with a partnership with Iraq’s Sumo Corporation and until 2019 for unrestricted oil supplies at the Shanghai Expo next week, Reuters reported on Sunday.
“The understanding between Iraq and China will be among the expected arrangements at the China International Import Fair from November 5 to 10, which will be visited by many Chinese institutions and buyers,” the agency said in a report read by the economy news.
“The partnership between Sumo and Chen Hua, which has been subject to transactions for a long period of time, will contribute to strengthening the state of the Iraqi oil market in Asia as the fastest growing markets in the world.”
“The joint arrangement between the Chinese and Iraqi companies will be another option for China because of pressure on Iranian oil purchases as a result of US economic sanctions,” she said.
“China’s imports of unrefined Iraqi oil rose to 32.28 million tons in the first nine months of this year, or 863,000 bpd, up 15 percent from the previous year,” it said.

Hamorabi Bank supports development trends


Independent) .. An official source at Hamorabi Bank Aljsari that the chances of economic renaissance in Iraq are available, and we have to start in the actual aspects that we believe we have the elements of rapid success, which can be activated without the need for long periods of time such as the agricultural sector and small industrial projects And the tourism sector.
He added that it also requires the development of the banking system to provide the best services in the world to these sectors, which must be linked to the plans of a phased strategy to develop all joints to the establishment of major projects in the coming periods and the small and medium-sized projects are complementary to strategic projects.
He pointed to the importance of attracting part of the foreign investment flows, and the adoption of the use of advanced technological means of communication and information, and the process as a whole requires a sophisticated banking system capable of supporting all economic processes, and this is recognized by our banks and working hard to develop all aspects of its work.,15700022,15700124,15700149,15700186,15700191,15700201,15700214,15700230&usg=ALkJrhiPhLyvIkNAElkO7J9GLYT0DT8z1w