The Dismantling Of The OIL AND GAS LAW on 3 projects to facilitate its adoption in Parliament !

[bostonangler]

2 minutes ago, DinarThug said:

250 Thousand dinars  It is possible through increased production to be a monthly share of the citizen about 50 .  And for the family, what is worth a thousand dinars, which is above the poverty line,

 

I'm not getting these numbers.. Anyone?

 

B/A

[pokerplayer]

3 minutes ago, bostonangler said:

 

I'm not getting these numbers.. Anyone?

 

B/A

 

Not me, its way over my pay scale B/A   

 

  pp

[DinarThug]

LINK

Economist : the importance of rising oil price to fill the budget deficit

 

2018-04-12 at 19:25 (Baghdad time)

 

The economic expert, Salam Samisem, on Thursday, that the high price of oil has a positive impact in creating a difference in the currency helps to strengthen the financial resources of the state, calling on the government to take advantage of the difference in bridging the budget deficit and reduce taxes on citizens.

"The rise in oil prices globally has a difference in the currency and this difference has a positive role, because the government recorded $ 45 in the budget of 2018 and therefore the difference will enable the government to benefit from it to fill the budget deficit," said Smaisem, for / Mawazin News, Differences in the promotion and utilization of the State's financial resources ".

"The government predicted that the budget deficit will be $ 10 million, and therefore relied on a package of taxes to be imposed on citizens," she said, stressing "the importance of taking advantage of these price additions to oil and reduce the tax pressure on the citizen."

"Taxes on which the government depends will be divided directly and indirectly. The direct income will be between 2 and 7 percent, including all employees and employees," she said. "Indirect taxes will be imposed on sales such as cigarettes, drinks,

"All these taxes will lead to higher prices and the citizen will be burdened financially," she said. "Therefore, we hope that this increase in the price of oil will reduce the tax pressure on the citizen and the amount of taxes that will lead to higher prices."

International oil prices rose on Wednesday, boosting the gains made in the previous session as markets watched the escalation of tension in the Middle East after warned the European Organization for Air Safety (Eurocontrol) of possible air strikes in Syria.

Brent crude rose $ 71.09 a barrel, up 7 percent from its last close.

Brent climbed more than 3 percent on Tuesday to its highest level since late 2014, when it hit $ 71.34.

US benchmark WTI hit $ 65.63 a barrel, up 12 percent, ending June 29.

[bostonangler]

11 minutes ago, pokerplayer said:

 

Not me, its way over my pay scale B/A   

 

  pp

 

I see 1000 dinar for a family is "above poverty line" Their dinar must be worth more than mine,

 

B/A

[3n1]

drilling their way to a prosperous iraq with usd .... seems to be the way forward hope the cbi has a different way other than what Salam Samisem is laying out ....  

[pokerplayer]

18 minutes ago, bostonangler said:

 

I see 1000 dinar for a family is "above poverty line" Their dinar must be worth more than mine,

 

B/A

 

I see articles all the time were the shown rate don't * Jive * with reality   

 

They rehash articles so often that even Iraqi's think they are new  LOL

 

  pp

[DinarThug]

US oil production exceeds 10.5 million barrels for the first time

 

 

 

 12 April 2018 07:27 PM

Direct: US oil production rose by 65 thousand barrels per day during the past week, to continue record levels.

US oil production rose to 10.525 million barrels per day (bpd) in the week ending April 6, compared to 10.460 million bpd recorded in the previous week, the US Energy Information Administration said Wednesday.

US crude oil production continues to record record levels for weekly estimates.

US oil exports fell by 970,000 bpd to 1.205 million bpd over the same period, the statement said.

As for the total US imports of crude, it increased by 1.722 million barrels per day to 7.445 million barrels per day in the past week.

According to the US Energy Information Administration, oil inventories in the United States rose 3.3 million barrels last week against estimates of a fall of 0.6 million barrels.

By 4:00 pm GMT, the price of Brent crude for June delivery fell 0.5 percent to $ 71.70 a barrel.

While US Nymex crude futures for May delivery settled at $ 66.79 a barrel.

link

[DinarThug]

Iraq postpones bid for oil and gas to 25 April

 

4/12/2018 1:35:34 PM

 

 

 

BAGHDAD - The head of the Office of Licensing and Contracts in the Oil Ministry, Abdul Mahdi al-Amidi, said Thursday, April 12, 2018, that Iraq postponed the round of bids for oil and gas to 11 new patch to the twenty-fifth of this April.

Amidi said in a statement to foreign media that the postponement is intended only to give companies a little time to prepare and submit offers.

Iraq had originally planned to award contracts to explore and develop oil and gas for the New Rocks located in border areas with Iran and Kuwait and in the waters of the Gulf, on 15 April.

link

[10 YEARS LATER]

How does the present price of Brent Crude fit in with your “ suitable environment “ strategy Iraq ? 

 

A strategy that reaches from the inner mind to the Outer Limits ! ( que music intro ).

 

Im on my phone, can’t bring that very cool theme over - the original series was Bad Azz.

[bigwave]

2 hours ago, bostonangler said:

 

I see 1000 dinar for a family is "above poverty line" Their dinar must be worth more than mine,

 

B/A

Maybe Okie is right, they do have an in country RV already.LOL

[Starrider]

3 hours ago, bigwave said:

Maybe Okie is right, they do have an in country RV already.LOL

We'd know about it by now

 

Starr

 

[ChuckFinley]

16 hours ago, DinarThug said:

 

The Other Baghdad Is In The Middle East And Is Completely Full Of Shiite’s !  

 

     

 

Now that was funny . Thugs you are making my day. It has been a long tough one.  

[DinarThug]

LINK

Iraq: Fears of manipulation of granting oil licenses

 

 

12th April, 2018

Iraq is preparing  to launch new licenses to explore offshore and offshore oil sites amid fears of political interference in licensing operations for other companies, which could affect plans to increase oil production, the main source of financial revenue. 

Preparations are under way to hold a conference on the licensing of oil in Baghdad on Sunday, organized by a joint committee of the Ministry of Oil and experts at the company that is responsible for the export of Iraqi oil to the world as well as representatives of the Prime Minister's Office.  Some companies and investors wishing to obtain oil licenses were worried about the worsening corruption in the country and the possibility of political interference in the issue of licensing.

According to informed Iraqi sources, I spoke to the "new Arab", the companies that will win the new licensing round will receive different concessions in the specific areas, and will be a priority in the development and investment fields in the cities liberated from the organization in the future. The sources, who declined to be named, indicated companies from Russia, the United States, China, Britain and others to compete for the licenses. 

The expert on economics and professor of the Institute of Oil in Baghdad, Walid al-Hassani, explained to the "new Arab", that the new licensing round "will be a test of the government in the extent of correcting the current picture on corruption." 

He said Hassani "should be a two - day conference will continue at least", referring to a field tour by some companies for several sites will be put up licenses to explore for  oilOther companies have also asked the Ministry of Oil to have a complete database on the fields, the security situation in the area and the road networks and airports nearby. 

He said , "This means a great interest from these companies, so we hope the government to allow experts in the Organization of Petroleum Exporting Countries (OPEC) independents helping as well as Iraqi oil experts, and the removal of the political side of being the first door to corruption by differentiating companies on the other , according to nationality" . 

A source in the Iraqi Oil Ministry confirmed for "new Arab", the contracts for which will beawarded to companies Straouh between 10 and 25 years, indicating that Iraq is a percentage of profits will not be less than 75% in the fields of oil and gas production will be in it.

The source, who declined to be named, said the priority would be the global and regional companies known that has previous experience in the field of oil exploration and production, stressing that the oil ministry is seeking through the new round of licenses to provide additional funds to supplement the state budget affected by  the economic crisis that hit The country over the past years. 

He pointed out that oil and gas patches located on the border with Iran and Kuwait will be dealt with after coordination with the two countries to ensure there are no irregularities or overlapping with fields located within the borders of the two countries. 

The source confirmed that the new licensing round will include three patches on the border with Kuwait, is the Umm Qasr, and Jabal Sanam, and vegetables water, and five patches on the common border with Iran, is Zurbatiyah, the oil box, and Shihabi, and Sinbad, and Hovaiza, and Rqotai Klabat Red Khashm in the province Diyala (eastern Iraq), and another area overlooking the waters of the Arabian Gulf.

He explained that he has been monitoring about 15 companies so far will compete on the new licensing round is hoped to raise Iraqi oil production from four to more than 6 million barrels per day, noting that the companies that win the new licensing round compliance with several conditions, the most important use of workers Iraqis, and commitment to programs Mine clearance, as well as bringing in the necessary expertise to develop oil discoveries discovered. 

The spokesman for the Iraqi Oil Ministry Assem Jihad, earlier, that Iraq intends to award contracts for the exploration and development of oil and gas in 11 new areas on the fifteenth of this month, stressing that the withdrawal of tender documents will be available to oil and gas companies wishing to enter the competition, on Friday. He pointed out that the names of the winners will be announced the day after tomorrow, Sunday. 

According to Professor of Economics at the University of Baghdad Ali Hussein Al-Rawi, in an interview with the "New Arab", that the new licensing round may provide an additional financial resource for the state budget. He pointed out that 8 patches of the total of the proposed new licenses are located on the border with two neighboring countries of Iraq and has with them  border problems before. 

He stressed that the Iraqi invasion of Kuwait was due to an oil dispute, and the Iran-Iraq war (1980-1988) was mostly economic reasons related to the border between the two countries. "The increase in oil production to more than six million barrels per day, if already done, will be part of the solution to the economic crisis experienced by the country."

[Goggles]

3 hours ago, DinarThug said:

Preparations are under way to hold a conference on the licensing of oil in Baghdad on Sunday, organized by a joint committee of the Ministry of Oil and experts at the company that is responsible for the export of Iraqi oil to the world

 

Hmmm.... What is the company responsible for this? Is it the National Oil Company? If so, I thought that hadn’t been in the Gazette yet so it’s not really a thing yet. 

[DinarThug]

LINK

International Energy Agency: Markets will face shortages in supply by restricting supplies

 

 13th April, 2018
The International Energy Agency (IEA) said on Friday that OPEC and its allies appeared to have completed their task of cutting global oil inventories to their desired levels, suggesting markets could face significant supply shortages if supplies remained tight .

Global energy inventories in developed countries could fall to an average of five years, a measure used by OPEC as a benchmark for the success of production cuts in May, according to the agency, which coordinates energy policies for industrialized countries .

 "We can not declare on behalf of the countries of the Vienna agreement that" the mission has been completed, "the agency said in its monthly report." But if our expectations are accurate, it certainly seems to be pretty much the case . "

 The Vienna-based cartel has been cutting production along with Russia and other allies since January to boost world oil prices, which rose above $ 70 a barrel this month, providing new support for the US oil boom .

At a time when oil production in OPEC member Venezuela is collapsing, it still faces interruptions in countries such as Libya and Angola, and OPEC output is below its target, meaning the world needs to use stocks to meet rising demand, Reuters said .

On Thursday, OPEC said in its monthly report that oil stocks in developed countries amounted to 43 million barrels only above the average of the last five years.

The Paris-based International Energy Agency put the figure at just 30 million barrels by the end of February .

Although non-Opec output is expected to rise 1.8 million bpd this year and increase US production, this is not enough to meet global demand, which is expected to increase by 1.5 million barrels per day (bpd) or about 1.5 percent, the agency said .

With output falling in Venezuela and Africa, OPEC produced 31.83 million bpd in March, less than expected demand for its remaining 32.5 million bpd .

"Our calculations show that OPEC production is stable this year, and if our expectations for non-OPEC production and demand for crude remain unchanged, global stockpiles may be withdrawn by about 0.6 million bpd, between the second and fourth quarter of 2018," the agency said .

That figure would represent 0.6 percent of global supplies, or about half the level of OPEC's current output of about 1.2 million bpd .

The Restriction Agreement applies until the end of the year, and Opec will meet in June to decide on its next move. Saudi Arabia, OPEC's biggest producer, said it wanted to extend the deal to 2019 .

OPEC Secretary General Mohamed Barkindo told Reuters on Thursday that OPEC and its allies were preparing to extend the deal to 2019 despite expectations that the global oil price gap will end by September.

[DinarThug]

The parliamentary power of / Mawazin News /: high oil prices will end the budget deficit

Economie

 Since 2018-04-14 at 17:41 (Baghdad time)

 

Special - Mawazine News 

The parliamentary oil and energy commission expected on Saturday that the government will achieve additional revenues in the budget due to the rise in international oil prices, pointing out that the continued rise in prices will end the deficit in the financial budget. 

A member of the committee, Awad Al-Awadi told Mawazine News, "The government will achieve significant financial revenues as a result of continued high global oil prices." 

Al-Awadi added that "the budget estimated the price of oil at about $ 45 per barrel, while exceeded about $ 70, which means that the surplus is very good." 

"Continued high oil prices will end the need for external loans and fill the deficit in the budget during the current year." 

It is noteworthy that the House of Representatives, had approved the law of the budget deficit estimated at 12 trillion dinars and that the government should provide the amount of external and internal loans. 

The economic expert, Salam Samisem, told Mawazine News on Thursday that the rise in the price of oil has a positive effect in creating a currency difference that helps to strengthen the financial resources of the state, calling on the government to take advantage of the difference in bridging the budget deficit and reducing taxes on Citizens

link

[DinarThug]

Oil records its biggest weekly gains since July

April 14, 2018

 

  

Oil prices rose on Friday, marking their biggest weekly gain since July last year amid support for fears about possible Western military action in Syria and reports of a decline in global crude stocks.

Brent crude for the day closed at 56 cents, or 0.78 percent, to settle at $ 72.58 a barrel, ending the week with gains of around $ 5 or 8 percent.

US benchmark WTI crude was up 32 cents, or 0.48 percent, to close at $ 67.39 a barrel, ending the week with an 8 percent gain.

On Wednesday, the benchmark crude oil prices hit their highest levels since late 2014 after US President Donald Trump warned that "incoming" missiles were in response to an alleged gas attack in Syria and after Saudi Arabia said it had intercepted missiles over Riyadh. SS

link

[3n1]

40 minutes ago, DinarThug said:

the rise in the price of oil has a positive effect in creating a currency difference that helps to strengthen the financial resources of the state, calling on the government to take advantage of the difference in bridging the budget deficit and reducing taxes on Citizens

 

 ......... and not to build your 3 billion dollar personal portfolio's ...cheers dv 

[ChuckFinley]

12 hours ago, 3n1 said:

 

 ......... and not to build your 3 billion dollar personal portfolio's ...cheers dv 

That is the only thing these guys are thinking about. The second is getting reelected in or to scam more funds. 

[DinarThug]

LINK

The Parliamentary Decree: The passing of this law ends the eternal dispute between Baghdad and Erbil

12:18 - 15/04/2018

 

 

The head of the parliamentary legal committee Mohsen al-Saadoun said on Saturday that the adoption of the law of oil and gas contribute to ending the eternal dispute between Baghdad and Erbil, referring to the parliament received more than five drafts of the law during the previous two sessions.

 "The approval of the oil and gas law contributes to ending the eternal dispute between Baghdad and Erbil and determines the responsibility of each party to manage natural resources," Al-Saadoun said in a statement to Al-Mawdhara. "The oil and gas committee received more than five different drafts of the oil and gas law during the previous two sessions, .

He added that "the House of Representatives failed to explain Article 112 and 111 of the Constitution, which caused the disruption of the passage of the law, despite its importance," ruling out "finding a final version because of differences solutions to the eligibility of the parties to the conflict."

"The disruption of the law of oil and gas caused a major crisis between Baghdad and Erbil has reached the threat of wars between them, while the adoption of the law will ensure the legal and constitutional right to each party, whether the province or province."

[davis411]

This sounds good

[nannab]

 Well isn't  Mr. Saadoun  the smart one of the day.  

Thank ya Mr. Thug. 

Edited April 15, 2018 by nannab

[DinarThug]

In the oil world, bigger companies are no longer the best for these reasons

 

 

 

2018/4/15 12:41:18 PM 
Some major energy companies in the world have begun to call for an economy of spending once they have known their huge spending on ambitious exploration, coinciding with the growing tendency of investors to producers who pay more cash instead of increasing exploration activity to pump more oil.
 

 

According to a report by the Wall Street Journal, the best oil producer in the United States performed in terms of stock movement over the past year, was not Exxon Mobil but ConocoPhillips, which reduced its size and gave priority to buy back shares and dividends from the growth achieved in the years Past.

The company's share price soared 29%, outpacing the performance of the S & P 500 and all US competitors, while Exxon fell 9% over the same period.

Market maturity

- Conoco's success suggests that investors are looking for something different for the big oil companies these days, announcing the end of the old days when they bought Exxon and Chevron shares to benefit from the big profits associated with rising oil prices.

- Tim Perranick, managing director of investment portfolios at Campier Investments, which manages $ 18 billion in assets, says the oil and gas industry is on track to move to a more mature market in the United States.

- Over the past decade, the emerging rock oil industry has been able to attract a lot of investors looking for growth, and now want a shareholder base return on capital.

- As US crude production continues to rise, there are constant threats to price action due to new supplies, so investors are becoming more skeptical of growth, and instead looking for cash payments is the trend.

 

A unique strategy

- Conoco began this shift in 2012, when refineries were dismantled, the oil drilling unit closed in deep waters, and it opted to distribute more free cash flow to shareholders instead of reinvesting it.

- A few oil industry leaders at the time had the same effect, which CEO Ryan Lance described as a very nice place.

- The strategy was formed from the point of view that the increase in US oil production would create a new era of uncertainty, having already exceeded 10 million barrels per day at an unprecedented level at all.

- Lans says that the duration of the price cycles is accelerating and the supply continues to record a peak (peak level) one after the other and one after another, but instead of chasing up and down, Conoco focused on sustainable capital.

- Sustainable capital means the price of oil needed by the company to maintain stable production, pay dividends and inject new investments. According to Lance, the standard is $ 40, which means that Conoco has a huge surplus now.

 

Excellence and hard selection

- While some companies have promoted share repurchases and dividend distribution, few of them have achieved low sustainable capital, many of which have turned to selling assets to balance spending and cash return with operations.

Hess Corp., for example, raised the value of its share repurchase program by $ 1 billion, while it is expected to reap $ 1.6 billion from its operations for $ 2.1 billion, a deficit of $ 1.5 billion.

- Hess sold assets worth more than $ 3 billion last year and executives said they were planning to reach a stage where they would generate enough liquidity to pay for new investments by 2020.

Exxon and Chevron, which have a much larger volume than Conoco, are achieving higher profits and are giving cash dividends that have not fallen since the collapse of oil prices in 2014 and have a long history of multi-billion dollar repurchase.

Chevron, however, suspended its share buyback in 2015 but is expected to resume it shortly. On the other hand, Exxon has significantly reduced its program and has made no intention of modifying it.

 

- Conoco's recent march through a temple road was unobstructed, although it was one of the largest donors of dividends, but it reduced these payments by nearly two-thirds in early 2016, as oil prices collapsed.

- But prices have risen again, and have risen by 26% over the past six months, but have not reflected the movement of oil companies as in the past, reflecting the lack of some investors to trust in this upward trend.

- In this climate, equity investors are likely to favor producers such as Conoco for sticking to austerity policies that analysts see as a discipline in the oil sector.

link

[ChuckFinley]

2 hours ago, nannab said:

 Well isn't  Mr. Saadoun  the smart one of the day.  

Thank ya Mr. Thug. 

 Now that is good.  

Edited April 15, 2018 by ChuckFinley

[eunola]

3 hours ago, DinarThug said:

LINK

The Parliamentary Decree: The passing of this law ends the eternal dispute between Baghdad and Erbil

12:18 - 15/04/2018

 

 

The head of the parliamentary legal committee Mohsen al-Saadoun said on Saturday that the adoption of the law of oil and gas contribute to ending the eternal dispute between Baghdad and Erbil, referring to the parliament received more than five drafts of the law during the previous two sessions.

 "The approval of the oil and gas law contributes to ending the eternal dispute between Baghdad and Erbil and determines the responsibility of each party to manage natural resources," Al-Saadoun said in a statement to Al-Mawdhara. "The oil and gas committee received more than five different drafts of the oil and gas law during the previous two sessions, .

He added that "the House of Representatives failed to explain Article 112 and 111 of the Constitution, which caused the disruption of the passage of the law, despite its importance," ruling out "finding a final version because of differences solutions to the eligibility of the parties to the conflict."

"The disruption of the law of oil and gas caused a major crisis between Baghdad and Erbil has reached the threat of wars between them, while the adoption of the law will ensure the legal and constitutional right to each party, whether the province or province."

 

Thanks again Thug. You are hitting some homeruns today my friend. This head of the legal parliamentary committee (Saddoun) seems to get it. Now if he can get the rest of them to get it and agree on something ( I know, I know..they will probably just throw their shoes at each other), we might be getting somewhere.