Political| 09:46 – 01/04/2023
Baghdad – Mawazine News
Kurdish media revealed that oil exports from the Kurdistan Region of Iraq will resume within 48 hours.
“Signing an agreement regarding the export of oil in the Kurdistan Region of Iraq tonight or tomorrow and sending it to Turkey to resume the sale of oil,” the means said.
“A joint chamber from Baghdad and Erbil will supervise the sale of oil in the Kurdistan region of Iraq,” she added. Ended 29/h
EconomyBreakingMohamed Shiaa Al-Sudani
2023-04-01 09:13ShareFont
Shafaq News/ Prime Minister Muhammad Shia’a al-Sudani said that the Karbala oil refinery, which opened today, Saturday, will provide 70% of Iraq’s need for oil products and $3 billion for the treasury.
“The refinery represents a real strategic project implemented for the first time since the eighties of the last century in Iraq, and it was implemented in accordance with international standards related to the environment and the latest technology,” Al-Sudani said in a speech during the opening ceremony, followed by Shafaq News Agency.
“The project will provide 60 to 70 percent of Iraq’s need for oil products, which it used to import at around $3 billion annually,” he added.
He pointed out that “this project will be run by 100% Iraqi staff.”
In the context, Al-Sudani’s office stated, “The refinery will produce 9 million liters of gasoline per day, 4 million liters per day of kerosene, 3 million liters per day of kerosene, 3 million liters per day, 750 tons per day of liquid gas, 1,000 tons per day of asphalt, and 360 tons of solid sulfur per day.” “.
He added, “Karbala refinery is the first refinery in Iraq that operates with modern technologies, and the purity of the produced gasoline reaches a degree of 95 octane.”
The office said, “The white refinery’s products are produced according to the latest European specifications, and that it will spare Iraq the import of many crude derivatives, while it operates with a production capacity of 140,000 barrels per day.”
He pointed out that “the refinery generates 200 megawatts of electricity by itself, and will supply the national grid with 60 megawatts and reduce loads.”
The refinery includes 33 operational, service and storage units with large production capacities. It also includes an integrated warehouse, a station for pumping products to external warehouses, gas filling plants, and a power station with a capacity of 200 megawatts, with 4 units, each of which operates with a capacity of 50 megawatts to supply the refinery with its needs, through which it will supply 60 megawatts. to the national network.
Economy| 04:36 – 01/04/2023
Baghdad – Mawazine News
The exchange rates of the dollar recorded, today, Saturday, a decline in the local stock exchange trading.
The selling prices were recorded at 150,500, while the buying prices were recorded at 149,500 per 100 dollars.
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Economy News / Baghdad
On Saturday, economist Nabil Al-Marsoumi revealed that the central government had reached an agreement with Erbil that included five points.
Al-Marsoumi said in a Facebook post, “The Iraqi government and the Kurdistan Regional Government reached a preliminary agreement regarding oil sales, after the international tribunal’s decision.”
The agreement includes that “Kurdistan’s oil sales will be through SOMO and the formation of a joint committee between the regional government and the federal government to monitor the process of exporting oil from Kurdistan.”
As well as “putting oil revenues in the Kurdistan Region in a bank account, as stated in the 2023 draft budget, and the Kurdistan Regional Government must gradually cancel all contracts with oil companies.”
Al-Marsoumi indicated that “the position of deputy director of SOMO will be assigned to the Kurds, and oil exports from Kurdistan will resume within two days.”
Economy News / Baghdad
Today, Saturday, the Central Bank of Iraq confirmed that all financial transfers are monitored from the electronic platform, while indicating that opening a window for selling dollars to citizens violates international controls and norms.
“All financial transfers are followed up and monitored by the Central Bank of Iraq through the electronic platform and the (fitr) cash sale platform,” said the assistant general manager of the bank’s investment department, Muhammad Yunus, to the Iraqi News Agency.
He added, “These operations come within the international standards for combating money laundering and terrorist financing, and are compatible with all international norms and laws, and do not affect the reputation of Iraq, the Central Bank and financial institutions in the event of any defect in those transfers.”
He pointed out that “accepted remittances began to increase continuously, and we expect the central bank to reach very high levels.”
Concerning the daily conversion rate of foreign currencies, Younis confirmed that “the bank publishes daily its cash sales and transfers, which currently range between 100 to 150 million dollars, in addition to cash sales,” expecting an increase in transfers in the coming days.
Regarding the possibility of the dollar exchange rate returning to its previous price, Younis indicated that “the parallel rate has begun to gradually decrease on a daily basis during the past days,” pointing out that “the central bank is working hard to solve all the problems that banks and merchants suffer from in the financial transfer process.”
Regarding the possibility of opening a window to sell the dollar to citizens with specific numbers per month, Yunus explained that “the dollar cannot be available to any citizen as it is not a national currency for Iraq,” noting that “the dollar must be allocated for dealing outside Iraq for the purposes of financing trade, travel, treatment and study.”
He continued, “Opening a window to sell dollars to citizens violates all international regulations and norms.”
EconomyIraqKurdistan RegionOil MinistryBreakingAppealRaw Export
2023-04-01 08:54
Shafaq News/ The Iraqi Ministry of Oil revealed, on Saturday, that there is a preliminary agreement to export oil from the Kurdistan Region, after it was stopped following the decision of the Paris International Court.
The ministry’s spokesman, Assem Jihad, said in an exclusive statement to Shafaq News agency, “There is a preliminary agreement to resume export operations for Kurdistan Region’s oil through the Iraqi Oil Marketing Company (SOMO), noting that “this agreement needs the approval of the federal government for approval.”
He added, “The Ministry of Oil has expressed its desire to expedite the resumption of oil exports by the region, after which the differences between the government and the region will be resolved regarding other problems,” noting that “the region has obligations and contracting companies with it to extract oil and has obligations with countries that export to it from Crude oil is paid monthly.
And Jihad continued by saying that “these matters must be discussed and mechanisms should be put in place for agreement between the two parties later,” adding that “stopping oil daily will harm Iraq in the federal budget that was approved, including the region’s oil, and it will also harm the Iraqi citizen in the region.”
On Saturday, March 25, the Federal Ministry of Oil announced that it had won the arbitration case filed by Iraq against Turkey regarding the export of crude oil from the Kurdistan Region through the Turkish port of Ceyhan, while it stated that it would discuss the export mechanism through the same port with the authorities. concerned in the region and the authorities in Ankara, according to the new data.
And Iraq stopped 450 thousand barrels per day of crude exports from the Kurdistan Region and the northern fields of Kirkuk, after the country won a long-term arbitration case against Turkey.
In a case dating back to 2014, Baghdad alleged that Turkey violated a joint agreement by allowing the KRG to export oil through a pipeline to the Turkish port of Ceyhan.
Economy News – Baghdad
Kurdish journalist Saman Noah revealed, on Saturday, that “in the presence of Iran” an agreement was concluded between the regional government and the federal government on the oil file.
Noah said on his Facebook account, “In the presence of the commander of the Iranian Quds Force, the regional government concluded an agreement with the federal government, convinced to hand over oil to SOMO in return, and the federal government promised to give the position of vice president of SOMO.”
And the economic expert, Nabil Al-Marsoumi, said, “According to private sources, the Iraqi government and the Kurdistan Regional Government reached a preliminary agreement regarding oil sales after the decision of the International Tribunal, which included the following: First: Kurdistan’s oil sales must be through SOMO. Second
:
formation A joint committee between the regional government and the federal government to monitor the process of exporting oil from Kurdistan
Third: The oil revenues in the Kurdistan region must be placed in a special bank account, and as stated in the draft budget law 2023, the account is under the supervision of the federal government, but the region is the one who orders the spending
Fourth: The regional government must Kurdistan will gradually cancel all contracts with oil companies.
Fifth: The position of deputy director of SOMO will be assigned to the Kurds.
Sixth: Oil exports from Kurdistan will resume within two days.
EconomyBreakingKarbalaA VisitThe Sudanese
2023-04-01 06:11Font
Shafaq News / Prime Minister Mohammed Shiaa Al-Sudani arrived today, Saturday, in Karbala province, according to the local government of the province.
A statement issued by the province said that the Sudanese was received by the governor of Karbala Nassif Jassim Al-Khatabi, and the Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani.
In turn, the Sudanese Media Office announced that the latter opened the strategic Karbala refinery with a production capacity of up to 140,000 barrels per day.
For his part, Deputy Prime Minister for Energy Affairs and Oil Minister Hayyan Abdul Ghani announced in a press statement on the sidelines of the opening of the refinery, the start of the commercial production phase in the strategic Karbala refinery.
In October 2022, former Oil Minister Ihsan Abdul Jabbar Ismail announced the start of the trial operation activities of the Karbala oil refinery.
The former oil minister confirmed that the ministry has achieved today a major achievement that has not been achieved in the refining industry for more than forty years, represented by the start of the trial operation activities of the giant Karbala refinery with a capacity of 140,000 barrels.
The minister also said that the Karbala refinery project is the largest project to be implemented despite economic and health challenges. It will secure light oil products, which reduces 60 percent of imports and provides hard currency, as it will produce 9 million liters of high-octane gasoline and 3 million white oil and other products, noting that this project, which has been completed, is one of the projects supporting the national economy and sustainable development.
Economy| 12:56 – 01/04/2023
Baghdad – Mawazine News
The Central Bank of Iraq confirmed on Saturday that all financial transfers are monitored from the electronic platform, while noting that opening a window to sell dollars to citizens violates international regulations and norms.
“All financial transfers are followed up and monitored by the Central Bank of Iraq through the electronic platform and the cash sale platform,” Assistant Director General of the Bank’s Investment Department, Mohammed Younis, told the official news agency.
He added, “These operations come within international standards for combating money laundering and terrorist financing, and are in accordance with all international norms and laws, and do not affect the reputation of Iraq, the Central Bank and financial institutions in the event of any defect in those transfers.”
He pointed out that “acceptable transfers are starting to increase continuously, and we expect the central bank to reach very high levels.”
Regarding the daily transfer rate of foreign currencies, Younis stressed that “the bank publishes daily its cash and remittance sales, which currently range from 100 to 150 million dollars, in addition to the cash sale,” expecting “an increase in transfers in the coming days.”
On the possibility of returning the dollar exchange rate to its previous price, Younis said that “the parallel price has begun to gradually decline on a daily basis during the past days,” pointing out that “the Central Bank is working hard to solve all the problems experienced by banks and traders in the financial transfer process.”
Regarding the possibility of opening a window to sell dollars to citizens at specific numbers monthly, Younis explained that “the dollar cannot be available to any citizen as it is not a national currency of Iraq,” noting that “the dollar must be allocated to deal outside Iraq for the purposes of financing trade, travel, treatment and study.”
“Opening a window to sell dollars to citizens violates all international controls and norms,” Younis continued. It’s over 29/N33
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