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Financial expenses for the country details for 2016 !!


yota691
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History of edits:: 12.28.2016 7:58 • 296 visits readable
Tamimi: 54 trillion dinars, the total revenues of the past 11 months
[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 . "
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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

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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.  :lol:

 

 

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 by Hikmah
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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.  :lol:

 

 

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👍🏽

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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 by Theseus
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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.

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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

 

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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 :twocents:

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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 :twocents:

Agree with you Synopsis.!

I have faith that Iraq will be part of the international market with an international recognize currency in 2017

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