yota691 Posted December 28, 2016 Report Share Posted December 28, 2016 Tamimi: 54 trillion dinars, the total revenues of the past 11 months History of edits:: 12.28.2016 7:58 • 296 visits readable [Oan- Baghdad] A member of the parliamentary finance committee, Majida al - Tamimi, said the total revenue the past 11 months amounted to 54 trillion dinars. She said Tamimi in his page on the social networking site, that " the sum of the current budget [operating], for the year 2016 amounted to 47 Trliuna and 865 billion dinars , up to the end of November, while the total investment budget of 12 Trliuna and 852 billion dinars and the total oil revenues amounted to 38 Trliuna and 421 billion dinars. " He showed that. "Total non - oil revenues , including support for the budget deficit Trliuna 16 and 301 billion dinars, meaning that the total oil and non - oil revenues amounted to 54 Trliuna and 723 billion dinars . " 4 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted December 28, 2016 Report Share Posted December 28, 2016 11 1 Quote Link to comment Share on other sites More sharing options...
jeepguy Posted December 28, 2016 Report Share Posted December 28, 2016 Hahaha. What ?¿? Snow globe 😂 1 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted December 28, 2016 Report Share Posted December 28, 2016 Hey Jeep....hope you and yours are having a great Holiday season....getting ready to ring in the new year? 1 Quote Link to comment Share on other sites More sharing options...
jeepguy Posted December 28, 2016 Report Share Posted December 28, 2016 Wow ! A super article where oil isn't part of the money intake for revenue... Trillion s ... ( Could have revalued the dinar turned it around for gabizillions.... Haha). Almost too the.tipping point value baaàbieeee 1 1 Quote Link to comment Share on other sites More sharing options...
jeepguy Posted December 28, 2016 Report Share Posted December 28, 2016 2 minutes ago, SnowGlobe7 said: Hey Jeep....hope you and yours are having a great Holiday season....getting ready to ring in the new year? Hay sweet lady , as soon as my wife gets well.. going on 2nd week.. hope you are well., 1 Quote Link to comment Share on other sites More sharing options...
10 YEARS LATER Posted December 28, 2016 Report Share Posted December 28, 2016 2 hours ago, SnowGlobe7 said: I think I understand noooowww . . . . where's that strange music coming from ? 1 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted December 28, 2016 Report Share Posted December 28, 2016 1 Quote Link to comment Share on other sites More sharing options...
caz1104 Posted December 28, 2016 Report Share Posted December 28, 2016 2 hours ago, SnowGlobe7 said: LMAO!!!!!!! 1 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted December 28, 2016 Report Share Posted December 28, 2016 (edited) hey caz how are ya friend?? Edited December 28, 2016 by SnowGlobe7 2 Quote Link to comment Share on other sites More sharing options...
Tuck Posted December 28, 2016 Report Share Posted December 28, 2016 3 hours ago, SnowGlobe7 said: Love love love this!! 1 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted December 28, 2016 Report Share Posted December 28, 2016 The total oil and non oil revenues for the past 11 months amounted 54 trillion dinars... $45.6 billion dollars I think this is really good for this year low oil prices. 2017 budget I believe is $69 billion dollar, base on a price of $45 per barrel Today's oil price is $54 per barrel Iraq oil production by Sept 2016 = 4.48 million barrels per day 4.48 mbpd x $54 pb = $242 million dollars per day $242 million dollars per day x 365 days in a year = $88.3 billion dollars $88.3 billion dollars - $69 billion dollars 2107 budget = $19.3 billion dollars surplus This calculation is base only in oil revenues. Go iraq Go oil production Go non oil production Go surplus Go RV 7 Quote Link to comment Share on other sites More sharing options...
SnowGlobe7 Posted December 28, 2016 Report Share Posted December 28, 2016 Theres that math again.......remember aliens do NOT wear hats!!!! 2 Quote Link to comment Share on other sites More sharing options...
boosterbglee Posted December 28, 2016 Report Share Posted December 28, 2016 Thanks LB! Math for Dummies! 3 Quote Link to comment Share on other sites More sharing options...
Hikmah Posted December 28, 2016 Report Share Posted December 28, 2016 (edited) The oil deal in Iraq is pretty wonky. Crazy "we're dealin" Maliki negotiated some bad contracts with the oil companies. An example is October of this year, the Kurd's pumped almost 550,000 bpd. The average price for oil in October was $49.29 but Iraq/Kurds sell it for $39.32, the difference is what the oil companies are paid off of each barrel. Same for November, average price per barrel was $45.26 but they sold for Iraqi oil for $35.05 per barrel. It was a great deal for Iraq when the price was over $100 per barrel but it's not as good when it's around $50. I found a cool OPEC report that comes out monthly that breaks down the different oil types and what each earns per barrel. Merey oil is from Venezuela and it fetches about $42 bucks a barrel because it's heavy and Minas oil is from Sumatra and gets $45 per barrel because it's light and sweet. If OPEC holds the cuts together and the shale companies remain idle, there's a chance Iraq might make it inside their budget. I'm hoping they can hold Iraq together long enough to get their economy up and running. Kurdistan Monthly Oil Report (October) http://www.iraq-businessnews.com/2016/11/14/krg-announces-lower-oil-exports-in-oct/ Kurdistan Monthly Oil Report (November) http://www.iraq-businessnews.com/2016/12/15/krg-announces-higher-oil-exports-in-nov/ Averge oil price 11/30/2016 through 10/31/2012 (scroll down just a bit) https://ycharts.com/indicators/average_crude_oil_spot_price Average oil price for November http://www.businessinsider.com/oil-price-move-on-november-21-2016-1 http://www.opec.org/opec_web/static_files_project/media/downloads/publications/MOMR November 2016.pdf It looks like Iraq is going to stop production at 4.3 mbpd http://www.vox.com/2016/11/30/13792788/crude-oil-prices-opec-cuts Edited December 28, 2016 by Hikmah 4 Quote Link to comment Share on other sites More sharing options...
ChuckFinley Posted December 28, 2016 Report Share Posted December 28, 2016 I think this is about ready to go BANG! 2017 - and no excuses. 3 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted December 28, 2016 Report Share Posted December 28, 2016 2 hours ago, Hikmah said: The oil deal in Iraq is pretty wonky. Crazy "we're dealin" Maliki negotiated some bad contracts with the oil companies. An example is October of this year, the Kurd's pumped almost 550,000 bpd. The average price for oil in October was $49.29 but Iraq/Kurds sell it for $39.32, the difference is what the oil companies are paid off of each barrel. Same for November, average price per barrel was $45.26 but they sold for Iraqi oil for $35.05 per barrel. It was a great deal for Iraq when the price was over $100 per barrel but it's not as good when it's around $50. I found a cool OPEC report that comes out monthly that breaks down the different oil types and what each earns per barrel. Merey oil is from Venezuela and it fetches about $42 bucks a barrel because it's heavy and Minas oil is from Sumatra and gets $45 per barrel because it's light and sweet. If OPEC holds the cuts together and the shale companies remain idle, there's a chance Iraq might make it inside their budget. I'm hoping they can hold Iraq together long enough to get their economy up and running. Kurdistan Monthly Oil Report (October) http://www.iraq-businessnews.com/2016/11/14/krg-announces-lower-oil-exports-in-oct/ Kurdistan Monthly Oil Report (November) http://www.iraq-businessnews.com/2016/12/15/krg-announces-higher-oil-exports-in-nov/ Averge oil price 11/30/2016 through 10/31/2012 (scroll down just a bit) https://ycharts.com/indicators/average_crude_oil_spot_price Average oil price for November http://www.businessinsider.com/oil-price-move-on-november-21-2016-1 http://www.opec.org/opec_web/static_files_project/media/downloads/publications/MOMR November 2016.pdf It looks like Iraq is going to stop production at 4.3 mbpd http://www.vox.com/2016/11/30/13792788/crude-oil-prices-opec-cuts Hikmah, Thanks for your input👍🏽 1 Quote Link to comment Share on other sites More sharing options...
caz1104 Posted December 28, 2016 Report Share Posted December 28, 2016 4 hours ago, SnowGlobe7 said: hey caz how are ya friend?? Fantastic!!!!! U? Hope u had a Merry Christmas! R we aloud to say Merry Christmas here at DV? I hope so cause I wish everyone had a Merry Christmas!! 4 Quote Link to comment Share on other sites More sharing options...
Theseus Posted December 29, 2016 Report Share Posted December 29, 2016 (edited) 4 hours ago, Laid Back said: The total oil and non oil revenues for the past 11 months amounted 54 trillion dinars... $45.6 billion dollars I think this is really good for this year low oil prices. 2017 budget I believe is $69 billion dollar, base on a price of $45 per barrel Today's oil price is $54 per barrel Iraq oil production by Sept 2016 = 4.48 million barrels per day 4.48 mbpd x $54 pb = $242 million dollars per day $242 million dollars per day x 365 days in a year = $88.3 billion dollars $88.3 billion dollars - $69 billion dollars 2107 budget = $19.3 billion dollars surplus This calculation is base only in oil revenues. Go iraq Go oil production Go non oil production Go surplus Go RV The calculation only holds true should the ppb of oil remain stagnant for 365 days. Like all commodities the ppb fluctuates where you should have put in a MOE into the calculation because should the actual results come in lower than calculated this could be a problem. I would have preferred to see an average expected percentage increase/loss over the next year and then calculated the expected loss or gain from the derived cost ppb over that period of time. I would not have gone with the current realized ppb. Edited December 29, 2016 by Theseus 3 1 Quote Link to comment Share on other sites More sharing options...
Theseus Posted December 29, 2016 Report Share Posted December 29, 2016 One of the reasons not to go with the current realized ppb is that in the Northern Hemisphere it is winter tme. I know everyone knows this. During this time, oil is expected to go up naturally and drop during the Summer months. This seasonal fluctuation can drastically change your calculated result by several factors. 3 1 Quote Link to comment Share on other sites More sharing options...
nannab Posted December 29, 2016 Report Share Posted December 29, 2016 M a t h 2 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted December 29, 2016 Report Share Posted December 29, 2016 1 hour ago, Theseus said: The calculation only holds true should the ppb of oil remain stagnant for 365 days. Like all commodities the ppb fluctuates where you should have put in a MOE into the calculation because should the actual results come in lower than calculated this could be a problem. I would have preferred to see an average expected percentage increase/loss over the next year and then calculated the expected loss or gain from the derived cost ppb over that period of time. I would not have gone with the current realized ppb. 57 minutes ago, Theseus said: One of the reasons not to go with the current realized ppb is that in the Northern Hemisphere it is winter tme. I know everyone knows this. During this time, oil is expected to go up naturally and drop during the Summer months. This seasonal fluctuation can drastically change your calculated result by several factors. Theseus, Thanks I really appreciate your comments.! Maybe you are correct and we have to wait 3 more years for a possible RV Quote Link to comment Share on other sites More sharing options...
chinadawg Posted December 29, 2016 Report Share Posted December 29, 2016 I will bet a 5 dinar note (soon as the lower demons hit) that we see an increase in value in way less than 3 years. 5 Quote Link to comment Share on other sites More sharing options...
Synopsis Posted December 29, 2016 Report Share Posted December 29, 2016 31 minutes ago, chinadawg said: I will bet a 5 dinar note (soon as the lower demons hit) that we see an increase in value in way less than 3 years. I agree, ChinaDawg! My opinion, once ISIS is removed, they will likely find a new yet age old enemy. "We found the enemy - and the enemy is us!" Unless, there is something really, really good happening to distract them - like a rocketing economy where they have to fight less (or work hard). To do that, they need foreign investment. To do that, they need to be a full member of the WTO. To do that, they need an internationally traded currency which is good for us. This may take 3 seconds, 3 minutes, 3 hours, 3 days, 3 weeks, 3 months, 3 years, 3 decades, 3 centuries, or 3 millennia. To maintain and improve stability, the social conditions and economy will need to change rapidly once Mosul is retaken. Otherwise, the local conditions could be ripe for malicious influences to halt or push the progress (and international ascensions) back. My opinion, 3 months or less would keep the right trajectory. Otherwise, there could be other cycles having a similar effect as ISIS over the past 2 1/2 years (closer to 3 years once ISIS is totally stamped out in Iraq). Just my opinion and 6 Quote Link to comment Share on other sites More sharing options...
Laid Back Posted December 29, 2016 Report Share Posted December 29, 2016 2 hours ago, Synopsis said: I agree, ChinaDawg! My opinion, once ISIS is removed, they will likely find a new yet age old enemy. "We found the enemy - and the enemy is us!" Unless, there is something really, really good happening to distract them - like a rocketing economy where they have to fight less (or work hard). To do that, they need foreign investment. To do that, they need to be a full member of the WTO. To do that, they need an internationally traded currency which is good for us. This may take 3 seconds, 3 minutes, 3 hours, 3 days, 3 weeks, 3 months, 3 years, 3 decades, 3 centuries, or 3 millennia. To maintain and improve stability, the social conditions and economy will need to change rapidly once Mosul is retaken. Otherwise, the local conditions could be ripe for malicious influences to halt or push the progress (and international ascensions) back. My opinion, 3 months or less would keep the right trajectory. Otherwise, there could be other cycles having a similar effect as ISIS over the past 2 1/2 years (closer to 3 years once ISIS is totally stamped out in Iraq). Just my opinion and Agree with you Synopsis.! I have faith that Iraq will be part of the international market with an international recognize currency in 2017 3 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.