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About Pitcher

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  1. Kind of reminds me of another do nothing to help it’s citizens government. As a matter of fact every time I read an article about how corrupt the GOI is, I think, yep, just like the good ole USA.
  2. LONDON, April 19 (Reuters) - Last October, at the height of a political crisis in Iraq’s Kurdistan region, a letter arrived at the Iraqi oil ministry in Baghdad from Igor Sechin, head of Kremlin oil major Rosneft. The Baghdad government was showing a “lack of constructive position and interest” about Rosneft’s offer to develop southern Iraqi oilfields, Sechin wrote in the letter, a copy of which was seen by Reuters. Kurdistan, a region of about 6 million people in northern Iraq, had just tried and failed to break away from the rest of the country. Baghdad had dismissed the Sept. 25 independence referendum and sent in troops to seize control of key oilfields - Kurdistan’s main source of income. Now Sechin, one of the closest allies of President Vladimir Putin, said that given Baghdad’s reluctance to work with Rosneft, his firm would instead do business with the Kurdistan Regional Government (KRG), which showed “a higher interest in expanding strategic cooperation”. Global powers including the United States and European Union, which had previously expressed sympathy with the Kurdish independence drive, would eventually reassure Baghdad they recognised its sovereignty over the whole of Iraq, including Kurdistan. But there was no hint of such conciliation in Sechin’s letter. Rosneft had pledged to invest billions of dollars in Kurdistan to the anger of the Baghdad government. Now, instead of backing off, it was doubling down. And Sechin held a stronger hand than many Iraqi officials realised, according to seven sources familiar with the matter. Days before, Rosneft had taken over ownership of landlocked Kurdistan’s oil export pipelines to Turkey from the KRG in return for $1.8 billion. The aim of the deal for Rosneft was not only commercial, but to cement Russia’s political influence in Iraq and the Middle East, according to the Rosneft, oil industry, Kurdish and Iraqi government sources. Control of the pipelines has given Rosneft a central role in ongoing talks between the KRG and Baghdad aimed at resuming full oil exports, which were disrupted by the referendum and Iraqi seizure of oilfields, said the sources. Kurdistan has large oil reserves - possibly a third of Iraq’s total - and its exports are vital to both the regional and national economies. In a sign of Rosneft’s influence, Kurdish officials have said they will not restart oil flows and transfer funds raised to the Iraqi government unless pipeline transit fees are paid to the Russian oil major, according to three industry sources in Erbil and Baghdad. Iraqi oil minister Jabar al-Luaibi effectively recognised the firm’s growing role in Kurdistan when he met Sechin’s right-hand man Didier Casimiro in Baghdad this month and said he was ready to cooperate with Rosneft “in renovating pipelines”. Rosneft, Sechin, the Kremlin and the Iraq’s prime minister’s office did not respond to requests for comment on this story. Sechin and the Kremlin have repeatedly said Rosneft’s projects are purely commercial, not political. The Iraqi oil ministry declined to comment on any political aspects of the Rosneft deal. FROM CARACAS TO NEW DELHI Rosneft’s actions in Kurdistan, a region long allied to the United States, provide an insight into how the Kremlin uses Rosneft - and its bold chief executive - as an instrument of Russian foreign policy across the world, from Erbil to Caracas and New Delhi, the sources said. Many countries, including Italy and France, have used their oil majors as tools of foreign policy, but Moscow’s use of Rosneft in this way has increased significantly over the past two decades under Putin’s rule. For Kurdistan, Russia’s growing influence represents a sharp geopolitical reversal. The region has been closely aligned to the United States since the toppling of Saddam Hussein during the U.S.-led invasion of Iraq in 2003. Amos Hochstein, who served as the U.S. Special Energy Envoy in the Obama administration, said while Rosneft and other Russian state firms sought to make profits, they also acted as a political entities when necessary. “They report directly to President Putin. Not every transaction that they do is political. But when Putin wants to perform a political transaction, they will definitely do it,” he told Reuters. “Russia doesn’t have a lot of tools to exercise political influence, and energy is the most efficient one”. Baghdad, which does not recognise the deal for the pipelines, has found itself in a difficult situation. The Iraqi government’s finances have been strained by its battle with Islamic State so it has little money to build new pipelines from Kurdistan, while it is loath to significantly disrupt the region’s oil flows, which it is banking on to deliver much-needed revenue. ‘SECOND FOREIGN MINISTER’ The role played by Rosneft in furthering Kremlin foreign policy is not unique to Iraq and has also played out in other parts of the world, according to the Rosneft and industry sources. “Sechin behaves like a second Russian foreign minister. Or to put it differently, he represents the economic might behind Russian foreign policies,” said one of the industry sources, an acquaintance of the Rosneft boss. “Very often these policies are about poking the Americans right in the eye.” In Venezuela, Rosneft lent around $6 billion to support the government. The company could end up owning large Texan refineries, currently belonging to Venezuelan state oil firm PDVSA, because the plants are collateral against the debt. In India, Rosneft invested $13 billion in a refinery – an abnormally high price for an oil processing complex – as it sought to outbid Saudi firm Aramco and boost Russian ties with the country, traditionally allied with the United States. Sechin said earlier this year in a rare interview with Frankfurter Allgemeine Zeitung he was confident that both Venezuela and Kurdistan would repay their debts in full and denied the deals were political. Asked if he saw himself as a politician, the 57-year-old responded: “It is a difficult question. It often feels like I have already lived several different lives. “I think the right word is a manager.” Born in St Petersburg, he was sent in the 1980s to act as a military interpreter in Mozambique and Angola, where Moscow and Washington were fighting proxy wars. Putin, who had known Sechin since the early 1990s in St Petersburg, took him to Moscow when he rose to power. Sechin helped him nationalise much of the Russian oil industry and was appointed Rosneft CEO in 2012. MOSCOW MEETING The Kurds have long argued that as an autonomous region of Iraq they have the authority to make agreements with foreign companies about pumping oil in their territory. In 2014, they started independent oil exports via Turkey. Iraq’s central government, however, says any Kurdish deals with overseas firms, or to export oil from Kurdistan, are illegal without Baghdad’s blessing. Russia was the only major world power that did not oppose the referendum, saying it understood Kurdish aspirations for independence. The United States, EU, Turkey and Iran all urged Erbil to cancel or postpone the vote in the weeks before it. As U.S. State Secretary Rex Tillerson unsuccessfully tried to negotiate a delay to the independence vote, Sechin was busy negotiating the pipelines deal. In the days following the referendum, Kurdish officials including natural resources minister Ashti Hawrami were flown to Moscow to meet Rosneft executives and Russian foreign ministry officials, according to two of the sources. On Oct. 20, at the peak of the post-referendum chaos when Iraqi Shiite militia backed by Iranian troops ousted Kurdish Peshmerga forces from Kirkuk oilfields, Sechin closed the deal. Rosneft paid the last tranche of the $1.8 billion deal sum to Erbil, the sources said. Rosneft and Sechin, both subject to Western sanctions over Russia’s annexation of Crimea, have never disclosed how much the company paid for the pipelines.
  3. Another condition being met for a rate change. Higher oil prices!!! Pxd, Eog, Cxo, my Permian Basin plays.
  4. ERBIL, (Kurdistan 24) – An Iranian official has claimed his country is losing the Iraqi market to rivals Saudi Arabia due to new policies implemented by the central government in Baghdad. Ridha Tajrishi, Head of Iran’s Industry and Commerce Body, told Iranian media agencies that Iran had started “to lose” the Iraqi market to Saudi Arabia, criticizing new policies implemented by Iraqi authorities against Iranian products. The Iranian official accused Iraqi authorities of not maintaining transparency in their trade relations with Tehran, noting that Iranian trucks prevented from crossing the border had increased expenses for Iranian traders. Criticizing his country’s policies in Iraq, Tajrishi said, “We contribute military spending in Iraq while Iraq’s benefits go to Saudi Arabia.” The Iraqi government has recently increased fees for Iranian products imported into the country resulting in a decrease of Iranian products, al-Sumeriya news reported. “The agreement between Saudi Arabia and Iraq to lower tariffs led to a loss in the Iraqi market for Iranian companies,” Tajrishi said. Tajrishi called on his country’s foreign ministry to contact Iraqi officials and resolve the problem, warning the “Iraqi government’s trade policies have led to huge losses for Iranian traders.” Saudi-Iraqi relations have improved since Iraqi Prime Minister Haider al-Abadi took office in 2014, replacing Nouri al-Maliki whose relationship with Riyadh had been strained. Saudi Arabia also reopened its embassy in Baghdad in late 2015 after it was shut down following the Iraqi invasion of Kuwait in 1990.
  5. Iraq’s General Customs Authority yesterday said there was an agreement between the government and Saudi Arabia to reduce tariffs on Saudi goods entering Iraq. In a statement, the authority confirmed that “the custom duties are fulfilled in compliance with the provisions of the Tariff Law No. 22 of 2010 on all goods and all products,” adding that “there is no discrimination in treatment.” The Iraqi authority’s statement came in response to the head of the Iran’s Industry and Trade Authority Rida Al-Harashi’s remarks to the Iranian media last Monday, in which he said that Iran “is losing its economic position in Baghdad and that Saudi Arabia was replacing it after an agreement was reached between the two sides to reduce tariffs on Saudi goods.” On 1 April, the Central Bank of Iraq announced a new system aimed at enhancing trade cooperation with Saudi Arabia. The bank’s governor, Ali Alalak, recently revealed about some discussions that are being caried out between Baghdad and Riyadh on opening a branch for the Trade Bank of Iraqi in Saudi Arabia in an attempy to achieve a strategic partnership in the economic, trade and investment fronts between the two countries. Relations between Baghdad and Riyadh have improved significantly since last year following decades-long of tensions, which resulted from the Kuwait invasion by the Iraqi army, during the tenure of the former Iraqi president Saddam Hussein in the early 1990s. Last year, both countries formed a joint commission which has agreed on several bilateral trade deals and approved the reopening of the border crossings between the two nations.
  6. Number of Dinar in circulation

    Thanks for your post Wiljor. I believe the HCL is done or real close to being finished. I believe we are waiting on a few things, elections, clean up of corruption which is probably the suitable environment, meeting all the IMF procedures and maybe Ramadan. I also agree we are closer than we ever have been before.
  7. Don’t you know the criminals in Iraq are thinking of ways to steal those ATM’s. I’m always amused when I see some creature try to steal one by ramming it with a stolen truck.
  8. Iraq’s Basra light crude is loading at a record high of more than a dollar a barrel above its official selling price thanks to strong demand in Asia, trade sources said on Tuesday. The sources said that JXT Nippon of Japan Refining and the Indian Oil Corporation bought the shipments at a premium of about $ 1.10 a barrel above the official selling price. Instant bonuses rose from previous levels between 40 and 50 cents after Iraqi oil marketing company Somo announced May allocations. Some Asian refiners prefer Basrah Light and one source said Somo may have cut provisions for some buyers in May.
  9. The pro government paramilitary troops has responded to accusations regarding participation in the chemical attacks in Syria. Speaking to Baghdad Today website on Tuesday, Abu Warith al-Mussawi, spokesperson for al-Nujabaa movement, said, “accusations made by Dahi Khalfan, vice-chief of Dubai police, against al-Hashd al-Shaabi (Popular Mobilization Forces) regarding the use of chemical weapons in Syria’s Douma are ridiculous.” He also said the remarks describe his “affiliations and defence of terrorist groups.” “Such crazy character does not deserve response or wasting time, as everyone knows that Khalfan is part of the system that needs to cover crimes of the terrorist groups, which are the arms of each of U.S., Emirates, Qatar and Saudi Arabia in Syria,” he added. Mussawi stressed that PMFs are totally away from the chemical weapons and the accusations levelled by Khalfan. Earlier today, Khalfan accused PMFs of being behind the chemical attacks in Douma. In a tweet, Khalfan said, “the one who striked the Syrian city of Douma using the chemical weapons is the Iraqi al-Hashd al-Shaabi, which obtained chemical weapons from Iraq.” He also added that the one responsible for the attack is Iran not the Syrian government. Earlier this week, each of U.S., France and Britain launched airstrikes against several regions in Syria, accusing Assad of attacking the Douma suburb of Damascus with chemical agents, earlier this month.
  10. ERBIL — The Iraqi government said on Tuesday it is expecting the third batch of South Korean fighter jets to arrive by the end of the current year. Iraq signed a contract to purchase 24 T-50 jets from South Korea. The ministry of foreign affairs said in a statement that the Iraqi ambassador to South Korea, Haider Shayya al-Barak, had visited the headquarters of the manufacturing company to follow up with the delivery. Baghdad has so far received 12 fighter jets from Seul in two separate shipments.
  11. Iraq needs to improve its overall security and political environment in addition to strengthening rule of law and enforcement to ensure a prosperous and peaceful future Since the U.S. occupation of Iraq in 2003, the country could not fully stabilize and its future unity has been questioned. Following the occupation, Iraq was ruled with a temporary law, the Transitional Administrative Law (TAL), until a new constitution was adopted in October 2015. Since the constitution allowed for the establishment of regions, autonomous Iraqi Kurdistan, the roots of which go back to the 1990s, was formed by Irbil, Sulaymaniyah and Dahuk provinces joining together. Iraqi Kurdish leadership actively participated in the formation of the constitution the autonomy was accepted by all parties.The end of Saddam Hussein's authoritarian regime and the adoption of the new constitution created hope for a democratic and economically prosperous Iraq. The constitution created a parliamentary system where multiple parties compete for parliamentary seats. Several parliamentary elections have been held and the executive leadership, i.e., the president, prime minister and the cabinet were formed according to election results. Thus, the country has been operating within a democratic framework since 2005. Due to its majority Shiite population, several Shiite political parties have been dominating the Iraqi political scene, but none of them have had a parliamentary majority. Therefore, coalition governments formed by the Shiite Arab parties have been ruling the country since 2005. Former Prime Minister Nouri al-Maliki headed two coalition governments and Haider al-Abadi is currently serving as the prime minister of a current coalition government. Forming coalition governments in Iraq has not been easy since it has involved bargaining among various political groups, taking months to form after elections. The upcoming May 12 election is likely to create a parliamentary composition that will require the formation of a coalition government again. While prime ministers have been Shiite Arabs, the symbolic presidency has been filled by Kurdish politicians and the speaker of Iraqi parliament and a vice presidency have been allocated to Sunni Arabs. Kurds are represented in Iraqi political institutions and also have their own Kurdistan Regional Government (KRG) in Iraqi Kurdistan with its own parliament, prime minister and president. Despite its democratic institutions, there have been issues with the workings of the system. The Maliki period saw the arrests of some Sunni politicians, and terrorist violence in Baghdad and the surrounding areas negatively affected peace and stability. Ruling political elites have often been accused of ethnic and sectarian clientelism. The country's economic institutions have been weak and its public sector has not been efficient. Corruption, allegedly, has been rampant. The KRG and the Iraqi central government have been having disagreements over the division of powers between them, internal borders of the disputed territories, production and sale of oil in Iraqi Kurdistan and revenue sharing. Last year's Sept. 25 independence vote in Iraqi Kurdistan was conducted partially for domestic political gains by mobilizing Kurdish nationalism, but was partly a result of the unsettled disputes, with a hope of gaining a better bargaining position for the KRG in a future settlement. But the central government retook the city of Kirkuk and some other parts of the disputed territories that included several oil fields from the peshmerga, which had been divided along the party lines of the Kurdistan Democratic Party (KDP) that controls Irbil and Dohuk provinces and the Patriotic Union of Kurdistan (PUK) that controls Sulaymaniyah. Thus, a new de facto situation has been created along the disputed territories. While Iraq dealt with multiple problematic issues, Daesh, which originated from al-Qaida in Iraq, grew into a security threat in Syria and Iraq during 2012 to 2014. Capitalizing on the chaotic civil war in Syria and the unhappy Sunni population in Iraq, the terrorist organization took control of massive territory in a relatively short period of time. Many were taken by surprise when Daesh captured Iraq's second-largest city of Mosul in June 2014, which showed the weakness of the Iraqi security apparatus at the time. It took about three years for a strengthened Iraqi army to retake control of Mosul and the territories that fell under Daesh in Iraq. Parallel to the deteriorated security situation, the economic situation also deteriorated after 2014 in the whole of Iraq, but especially in Iraqi Kurdistan. Not only did foreign and domestic investment decline in the region, but also government spending substantially decreased to the extent that government employee salaries were not paid for long periods of time since Baghdad had cut off the KRG's 17 percent budget share due to disputes between them over oil production, sales and revenues from the Kurdish region. The future of Iraq after Daesh is defeated Now that Daesh is defeated, Iraqi security has improved in many locations and negotiations are ongoing between the KRG and the central government for settling disputes. Therefore, there are renewed hopes for a better future in the country. Moreover, the Iraqi government has increased its efforts for political and economic reforms, for attracting investment and for getting the economy on a path for growth. There has been international fundraising for supporting Iraq's reconstruction efforts and Turkey pledged the highest amount – $5 billion – as a loan and investment. However, the success of these renewed efforts depends on reconstruction of war-torn regions, reintegration of the provinces and their populaces who suffered under Daesh from 2014 to 2017, and solving the issues between the KRG and Baghdad. There are over 2 million internally displaced people (IDPs) who need the government's security guarantees and help with reconstruction of their homes and cities. In 2014, about one in five Iraqis were below the poverty line, and developments after 2014 have deteriorated the situation of the poor, especially in Daesh-occupied areas. This widespread poverty not only reduces the government's legitimacy, especially when the public believes that their leadership is corrupt, but also prepares an environment for extremist ideologies and tensions among different ethnic and religious segments of the country. Both the central and the KRG governments need to adopt people-oriented policies focusing on increasing the overall welfare level in the country. Long-lasting recession and unpaid salaries have frustrated many in the Kurdish region and have led to multiple protests, sometimes violent. The central government and the KRG need to pay the salaries as soon as possible. Aggregate demand has declined sharply in the region due to unpaid salaries, decreased investment and government spending. Therefore, the recovery of the region's economy depends on the payment of salaries, increase in government spending especially on public capital investment and creation of a stable and peaceful region for long-term investments.Iraq is an oil-rich country capable of increasing its oil revenue with more investment in production. Oil exports through Kirkuk pipeline to Turkey are expected to resume after necessary improvements to the pipeline. Such increased oil revenues can be used for reconstruction and infrastructure investments. However, in the long run, the country needs to reduce its high oil dependency by diversifying its economy. Currently, 90 percent of the Iraqi government's revenues come from oil. Such a high dependency creates big swings in government revenues year by year as they depend on oil prices. In fact, when oil prices declined around 50 percent in 2014, the country started to have significant budget deficits while its defense spending was increasing, and it had to borrow over $18 billion from the International Monetary Fund (IMF). Reduced public investment spending during this period weakened the overall economy. Improved infrastructure and public services will create a more conducive environment for economic growth. A better private investment environment needs to be created and diversification of the economy needs to be achieved in the long run. Moreover, the country's weak financial sector needs to be strengthened so that financial institutions can mediate between money savers and investors. In order to achieve its long-term economic goals, the country needs a stable political and security environment. Internally, the government needs to improve the overall security environment further. All illegitimate groups with weapons need to be taken under control. The country's legal system, rule of law and law enforcement need to be strengthened. Kurdish and Iraqi political leaders need to take steps to settle their disputes and develop trust and a stable, long-term relationship. Democratic political institutions as well as market-oriented economic institutions should continue to be improved. Both Baghdad and Irbil need to bring more transparency, accountability and efficiency to their public sectors. Externally, Baghdad and Irbil should continue to improve their economic and political relations with neighboring countries so that trade and long term investment can flourish. Secure and predictable economic and political environments will attract more foreign direct investment and strengthen domestic private investment.
  12. “Razor stubble” baaahahahahaha. How do you come up with s*** like that. Lmao
  13. Nice find, it appears fiat currency is curtains. I’ve been buying gold and silver for years and if we get a Dinar revalue I’ll buy some more. We’ll need to keep an eye on this bill, 30 months from enactment, mmmmmm
  14. I did something today that all of you on this board should do. I’ve been working pretty long hours in my Trading ( lots of prep work involved with trading. You have do do the work) and also dreaming about an Iraqi value change. I’ll be honest and tell you I’ve even woken up in the middle of the night a few times to check the rate. Crazy right. Well, today I said screw it to Trading and reading about Dinars. I loaded up my truck and drove down to the Gulf Coast and did a little hanging out, smelling the roses. The sea breeze and fresh air was wonderful. After a day of pure relaxation I feel rejuvenated and ready for some more Dinar craziness. I highly recommend playing hooky from life to chill every now and then. Today was a great one for me.
  15. The Recovery Of The Iraqi Dinar !

    I like the word intensive so much better than soon!! navira45, me too Thug, thank you for the post!!

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