America calls on Baghdad and the Kurdistan Region to negotiate the oil dispute, and reveals a role for “UNAMI”

politicsKurdistan RegionbreakingIraqi governmentexports oil

 2022-06-29 14:08A-AA+

Shafaq News/ On Wednesday, the United States called on the federal governments in Baghdad and the Kurdistan Region to negotiate the dispute over oil, and to benefit from the United Nations mission mandated to assist in this regard.

Al-Hurra station quoted a statement by a US State Department spokesman, in which he stressed, “The government of Iraq and the Kurdistan Regional Government should sit at the negotiating table to reach a solution to the oil issue that is acceptable to both parties and avoid taking steps that inflame tensions.”

He added that “the new mandate of the United Nations Assistance Mission for Iraq (UNAMI) specifically mandates it to assist the parties in achieving this.”

He added, “Therefore, we encourage the governments of the Kurdistan Region and Iraq to make maximum use of the good offices of the United Nations Mission.”

And last February, the Federal Supreme Court of Iraq, the highest judicial authority in the country, issued an order obligating the Kurdistan Regional Government to hand over all the oil produced on its lands to the central government.

And the court’s decision remains threatened not to be implemented in light of a dispute dating back to years over oil resources between the federal government and the Kurdistan Region, which includes 3 provinces and has been autonomous since 1991.

And the court’s decision stated, “obligating the regional government to hand over the entire oil production from the oil fields in the Kurdistan Region (…) to the federal government represented by the Federal Ministry of Oil.”

Iraq’s exports, which is the second largest oil exporter in the Organization of “OPEC”, amount to about 3.5 million barrels per day, and its financial imports represent 90% of the country’s budget.

The Kurdistan Region had pledged to deliver 250 thousand barrels of its daily production, which exceeds 400 thousand barrels, to the central government through the Ministry of Oil, in exchange for receiving the salaries of employees and Peshmerga fighters, the armed forces of the region.

The region’s oil exports have been the subject of frequent controversy over the past years, with Baghdad demanding that all the country’s oil exports be subject to the supervision of the Ministry of Oil of the central government.

Gold rises with the decline of the dollar

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 2022-06-29 01:31A-AA+

Shafaq News/ Gold prices rose today, Wednesday, affected by the decline in the US dollar, and in light of the looming recession fears.

According to the Comex rating of the New York Mercantile Exchange, gold futures were traded in August at $1,822.05 an ounce at 06:23 GMT, up by 0.05%.

It was previously traded high at $1,823.95 an ounce.

The dollar index, which measures the performance of the US currency against a basket of six other major currencies, fell 0.06% to trade at 104.19 dollars.

As for other metals, the price of silver for the month of September increased by 0.21% to be traded at $20.83 per ounce, while the price of copper for the month of September fell by 0.47% to be traded at $3.74 per pound.

World Bank: Iraq has an opportunity to diversify its economy and address the crisis of its human capital

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 2022-06-29 04:22A-AA+

Shafaq News/ The World Bank confirmed, on Wednesday, that Iraq has an opportunity to diversify its economy and address the human capital crisis.

The Special Representative of the World Bank in Iraq, Ramzi Neiman, said during the “Access to Finance” conference, which was attended by Shafak News Agency, that Iraq began to gradually emerge from the crisis after the contraction of its economy in the year 2020 following the decline in oil prices, noting that “the Iraqi economy grew in the year 2021.” With the rise in oil prices and the increase in oil revenues.

He added, “The World Bank believes that Iraq has an opportunity to reorient the government program, diversify the economy, and address the human capital crisis in the country,” noting that “the World Bank believes that solutions lie in supporting small businesses and establishing and supporting projects and companies through electronic support.”

And the Iraqi state’s continuation of relying on oil as the only source of the general budget makes Iraq at risk of global crises that occur from time to time due to the impact of oil on it, which makes Iraq turn every time to cover the deficit through borrowing from abroad or inside, which thus indicates the inability to manage Effectively state funds, and the inability to find alternative financing solutions.

The Central Bank: We saved the Iraqi economy from collapse.. America: We contributed $40 million

economyAmericaIraqi economycentral bank

 2022-06-29 04:17A-AA+

Shafaq News/ The Central Bank of Iraq said, on Wednesday, that it saved the Iraqi economy from collapse in 2014, while America stated that it contributed 40 million dollars in aid to Iraq to develop the Iraqi economy.

Central Bank Governor Mustafa Ghaleb Makheef said during the “Access to Finance” conference, which was attended by Shafak News Agency, that “the bank was able to stop the collapse of the Iraqi economy during the year 2014 with the collapse of security conditions and the drop in oil prices globally through a package of financing operations,” noting that ” The task of the central bank is to address challenges at critical times for the economy.

He added, “The bank was able through launching financing initiatives, including liquidity support for government banks and initiatives to finance farmers’ dues,” noting that “the financing of these initiatives has currently reached 18 trillion dinars.”

He pointed out that “the bank intensified its efforts in the field of clean energy through the initiative to finance one trillion dinars to purchase electricity generating units operating on solar energy,” explaining that this funding was “launched in cooperation with the Association of Banks, a social initiative that contributes to linking the banking sector with society to develop some shrines.” religious, tourist facilities, job opportunities, and others.

For her part, the US Ambassador to Iraq, Alina Romanowski, confirmed that “the US government is proud to launch the activities of the conference to build a thriving private sector on the basis of transparency,” noting that “on the 18th of last May, the US Agency for Development attracted more than $40 million in private investments. seeking to support economic growth and promote greater prosperity throughout Iraq.”

“I announce today an important partnership project to build the first gas separation plant between the private sector and the Ministry of Industry and Minerals, and the project creates more than 30,000 job opportunities,” she said.

An astronomical center sponsored by the office of Imam al-Sistani expects to see the crescent of Dhul-Hijjah.. and this is the date of Eid

  • Time: 06/29/2022 10:40:57
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An astronomical center sponsored by the office of Imam al-Sistani expects to see the crescent of Dhul-Hijjah.. and this is the date of Eid

  {Local: Al Furat News} The Center for Astronomical Research and Studies, under the auspices of the Office of the Supreme Religious Reference, Grand Ayatollah Imam Sayyed Ali al-Sistani, expected the date of sighting the crescent of the month of Dhu al-Hijjah.

The center expected the sighting of the crescent tomorrow, Thursday, with a height, so that next Friday will be the first day of the month of Dhul-Hijjah, and thus Sunday, July 10, will be the first day of the blessed Eid al-Adha.
To view the center’s expectations in detail.. Click her

With more than 145 billion barrels, Iraq is the fourth largest proven oil reserves in the world



economyOPECIraqi oil reservesglobal reserve

 2022-06-29 03:01A-AA+

Shafaq News / OPEC announced, on Wednesday, that Iraq possesses the fourth largest proven oil reserves in the world, while indicating that these reserves do not include oil rocks.

The organization stated in its annual report in June, seen by Shafak News Agency, that “the proven crude oil reserves in the world amounted to 1.545.071 trillion barrels at the end of 2021,” indicating that “OPEC’s share of these reserves amounted to 1,241.819 trillion barrels.”

She added that “Iraq ranked fourth globally in the world’s largest proven reserves, with 145.019 billion barrels, after Venezuela, which came first, with 303.468 billion barrels, while Saudi Arabia came second, with 267.192 billion barrels, and Iran came third with 208.600 billion barrels.”

The organization indicated that “the countries of the Middle East have the largest reserves in the world, with 869.612 billion barrels, thanks to the reserves of Saudi Arabia, Iran, Iraq, Kuwait and the UAE, while Latin America came second, with 329.481 billion barrels, thanks to the reserves of Venezuela, while Africa came third, with 120.210 billion barrels, thanks to Libya.” and Nigeria.”

Dollar exchange rates are declining in Baghdad and the Kurdistan Region


 2022-06-29 02:58A-AA+

Shafaq News/ The exchange rates of the US dollar decreased against the Iraqi dinar, on Wednesday, in the main stock exchange in the capital, Baghdad, and in the Kurdistan Region.

Shafak News Agency correspondent said that the Al-Kifah and Al-Harithiya Central Stock Exchange in Baghdad registered this morning 148000 Iraqi dinars, compared to 100 US dollars.

Yesterday, Tuesday, prices were 148,100 Iraqi dinars, compared to 100 US dollars.

Our correspondent indicated that buying and selling prices have stabilized in banking shops in the local markets in Baghdad, where the selling price amounted to 148,500 Iraqi dinars per 100 US dollars, while the purchase prices amounted to 147,500 Iraqi dinars per 100 US dollars.

In Erbil, the capital of the Kurdistan Region, the dollar prices also witnessed a decrease, as the selling price reached 148,200 dinars per 100 US dollars, and the purchase price reached 148,100 dinars per 100 US dollars.