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Iranian official calls for negotiations with Washington in Iraq


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Iranian clarification on negotiating with the US in Oman

Iranian clarification on negotiating with the US in Oman
 


Iranian clarification on negotiating with the US in Oman
 Twilight News    
 2 hours ago

The Iranian foreign ministry on Saturday strongly rejected the claim by a member of the Shura Council that it had initiated contacts and negotiations with US government officials in one of the neighboring countries, saying it was baseless.

The Iranian foreign ministry statement said it explicitly stated that all its claims (Karimi Qadusi) about the Foreign Ministry's desire to communicate and negotiate with the US government, as well as the initiative to negotiate with US officials in one of the neighboring countries, were baseless, unfounded and strongly denied.

The foreign ministry said it was "at all administrative and laboratory levels following the orders and policies of the leader of the Islamic Revolution, especially in how to deal with the US government and certainly not take a late or advanced step."

"They regard themselves and the diplomats of the country as" observing the national interests of the country and considering their commitment to and commitment to the goals and values of the Islamic Revolution subject to presenting a true picture of the developments and events in the region, the world and the international system and seeing themselves entrusted with presenting a vision of senior government and state officials, The country's diplomatic apparatus is built on the basis that in the current circumstances there is no point whatsoever in any kind of negotiation with the Trump government of the era and evading the law and anti-Iran. "

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Yeah, Right.            ANOTHER DESPERATE move by the Insanians WHO are CRYING OUT LOUD.   The Insanians are backed FURTHER into the corner WITH NO WAY OUT!!!  

My my my seeing that carrier brings back memories for me. Being a young 17/18 yr old getting told we were heading to the med sea to assist with Operations in Iraq and Afghanistan after 9/11 was terrif

At one time I thought this was a pretty smart an honest guy, after reading parts of this statement I'm now convinced I was totally wrong. He's just another political pawn being played by Iran.  I

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On Thursday, a new wave of angry protests erupted in Tehran and other Iranian cities, and pictures of Iranian leader Ali Khamenei were burned to protest the deteriorating economic conditions, which are intensifying under US sanctions, which remain five days ahead of the start of the new fan, Donald Trump said it would be tougher than the first; because it included the tarnishing of oil exports and the strangulation of banking activity, but the polarized system was borrowing masks, specifically the face of Foreign Minister Mohammed Jawad Zarif, who announced last Tuesday that Tehran is ready to engage in negotiations with the Department of And have no preconditions, but within a framework of mutual respect!
The story is a story of respect, not a "dozen" story of the stifling US conditions and demands that Washington says are aimed at changing the behavior of the mullahs. Of course, there is no sense to Zarif's saying that a number of countries are continuing their economic relations with Tehran despite US sanctions, and that his country will be able to overcome these sanctions. If this were true, Iran would not have negotiated without preconditions! 
What does "without preconditions" mean? 
Of course ... it means that it is ready to look at the list of American conditions and demands, after repeating in recent months that it does not weigh these conditions. On August 13, the guide Ali Khamenei had announced that Americans talk openly about Iran, to The sanctions side are waving negotiations and the possibility of war, but there will be no war and we will not negotiate with them!
It was always clear that US President Donald Trump was dealing with Iran as he did with North Korea, by applying the doctrine of John Foster Dulles, Secretary of State, to the days of President Dwight D. Eisenhower, who said, "Stick with a big stick and speak in a low voice." Succeeded with Kim Jong-un, could succeed with the mullahs of Tehran, especially after the deepening economic crisis that led to the outbreak of increasing unrest in the Iranian street.
In this context, Washington continued its pressure on European companies, which have abandoned their contracts with the Iranians, which do not exceed $ 400 billion, and leaves Tehran to not lose its share in the US cake, the value of trade with Washington up to $ 18 trillion, In parallel, on July 30 Trump proposed a meeting with the Iranians on the backdrop of three bets: first, his desire to push them to agree to a new nuclear deal, but under strict and binding US conditions, and the second was not to embarrass his European partners who signed the agreement The former with Iran in 2015, and not to pay them Zawahiri through the loss of their companies contracts signed with Tehran, and the third clearly sought to deepen the rift that was widening between the reformers Iranian and hardliners who held the spiritual government responsible for the economic crisis and pushed him to dismiss some of its ministers!
The Iranians rejected Trump's offer on his day, but he repeated it last September when he suggested that Hassan Rowhani meet on the sidelines of the UN General Assembly, but Rouhani tried to embarrass him in his own home when he told CNN in an interview with Christian Amanpour that Tehran Has never asked for a meeting with Trump, and has even received eight requests from unnamed US officials for the meeting.
Foreign Minister Mike Pompeiro responded to Rohani by saying that Trump would accept the meeting if they demonstrated an actual commitment to make fundamental changes, change their malignant behavior, and agreed to actual commitments that effectively prevent the proliferation of nuclear weapons, as well as to end their regional interventions and support terrorism. . In parallel, in his speech to the United Nations, Trump deliberately raises his accusations against Iran when he describes it as a corrupt dictatorship and that its extremist regime is sowing chaos, destruction and death. The world must isolate this regime. "We can not allow the world's largest state sponsor of terrorism , To possess the most destructive weapons in the world »! 
Now it is clear that all Iran's bets to evade US sanctions have fallen. European countries can not save the deal and overcome the heavy effects of US sanctions. Dozens of big companies have left Tehran not to be punished.
Muhamad Jawad Zarif has been confused in contradictory positions on this subject. First, when he said that European countries can not commit their companies to stay in Iran, and that the United States put its hand on the vital artery of the Iranian economy, and secondly when he reached the level of intimidation on European countries on August 18 that the actions taken by European capitals to save the nuclear agreement Is merely a declaration of positions rather than practical measures. 
"The Europeans see the nuclear deal as a security achievement for them, and of course every country has to invest and pay for its security, and we think that Europe is still not willing to pay that price," he said. "Strangely, it sounded like a threat Nuclear enrichment and a blatant Iranian attempt to blackmail the Europeans!
Second, the stakes for a change in the position of Trump from inside, fell through two active moves in parallel. The former foreign minister from the oil world, Rex Tillerson, was inclined to arrange things with Tehran and did not comply with the policies of the hard-line against it. And when he was succeeded by Mike Pompeo, the next intelligence scientist, who trumps Trump in his insistence on the Iranian regime, the premise of the State Department's influence in the White House's decision on Tehran fell.
At the same time, former Secretary of State John Kerry, who considers himself the architect of the nuclear deal with Barack Obama, was engaged in secret negotiations and political plans with the Iranians directly to trigger an internal lobby influencing the Trump decision. Last, when Trump announced that "Kerry did not understand that he took his chance and failed, we do not need shadow diplomacy, Kerry ... Stay away. You are hurting your country. 
Thirdly, Iran's bet on time is that Trump's policy is also falling. Trump is entering the midterm elections with good chances for the Republican majority in Congress, because he has succeeded in the North Korean file and has achieved an exciting economic success by confronting China, The red in the face of Vladimir Putin, by waving to withdraw from the Treaty on Intermediate Nuclear Weapons, beyond saying that Moscow intervened in his favor in the presidential elections.
On the background of all this, and in parallel with the intensification of the economic crisis, Iran is acquiescing to the negotiating model without preconditions and under mutual respect, implying that it does not require the preservation of the text of the nuclear agreement, which Trump demands to be radically modified, but it does not stop at this, But, of course, a "dozen" of the conditions that Mike Pompeo reported in mid-May. The cessation of nuclear enrichment under strict international control, the cessation of ballistic missile development, the cessation of support for terrorism and its pro-regional militias, the withdrawal from Syria and Iraq, the cessation of support for the Huthi rebels, and the cessation of interventionist policies that threaten its neighbors.
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Sunday, October 28,
 
 
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Alsumaria News / Baghdad , 
said the Iraqi Oil Ministry, Sunday, about the existence of "direct impact" on Iraq by the US sanctions imposed on Iran, while I expected those excluded from the procedures for dealing with Iran sanctions. 

"Iraq is associated with Iran with the longest common border, large commercial exchange between the two countries, as well as the work of electric power with dry gas for the operation of gas stations, " said Ali Abdul Karim al-Moussawi, director general of the Iraqi Gas Filling Company of the Ministry of Oil, in an interview with the Kuwaiti newspaper Al-Rai . Requires the opening of credits and transfers, and therefore the US sanctions affect us directly. "

 

 


Moussawi predicted that there is a request for the exception of Iraq for dealing with Iran under the operation of many electrical investment and government stations Iranian gas to US sanctions, "he said . " We transfer money in dollars to Iran formally, if applied to US sanctions Vszbb problem for us. " 

He Moussawi that " the operation of gas stations in Iraq with gas or diesel cost is very high because of the amounts staggering required, the production of 1000 megawatts requires millions of dollars , " noting that "there 's privacy must be taken into account, Iraq is an ally of America and its relationship to good neighboring countries, and not in the interest and Eschen Ton to create problems in Iraq and not provide alternatives to energy. "

Iraq imports electricity from Iran through four lines, including the Karkh-Amara line, which has been completed in the first half of 2011, in addition to three other lines currently in operation. The energy is imported through it, the Abadan Basra line, which supplies the national system capacity of 300 MW, line (Kermanshah Diyala ) , which prepares the national system with a capacity of 400 MW, in addition to the line (Serpil Zahab Khanaqin ) , which prepares the national system with a capacity of 100 MW.

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Iraq: US sanctions on Iran affect us directly and expect exception

03:48 - 28/10/2018

 

 

Baghdad - Mawazine News

Iraq's oil ministry said on Sunday it had "a direct impact" on Iraq because of the US embargo on Iran, while it expected to exclude the ban on dealing with Iran. 
"Iraq is associated with Iran with the longest common border, great trade exchange between the two countries, and the work of energy," said Ali Abdul Karim al-Moussawi, director general of the Iraqi Gas Filling Company of the Oil Ministry, in an interview with the Kuwaiti newspaper Al-Rai. Electric gas to run the gas stations, requires the opening of credits and transfers, and therefore the US sanctions affect us directly. "
Moussawi predicted that there is a request for the exception of Iraq for dealing with Iran under the operation of many electrical investment and government stations Iranian gas to US sanctions, "he said . " We transfer money in dollars to Iran formally, if applied to US sanctions Vszbb problem for us. " 
He Moussawi That "the operation of gas stations in Iraq, gas or diesel cost is very high because of the huge quantities required, the production of 1000 MW requires millions of dollars," noting that "there is privacy must be observed, Iraq is an ally of America and its relationship with neighboring countries, Ton to create problems in Iraq and not to provide alternatives to energy. " 
Iraq imports electricity from Iran through four lines including the Karkh-Amara line, which was completed in December 2011, in addition to three other lines currently operating, the energy is imported through (Abadan Busra), which supplies the national system with a capacity of 300 MW, and the line (Kermanshah Diyala), which supplies the national system with a capacity of 400 MW, in addition to the line (Serbil go Khanaqin), which equips the national system with a capacity of 100 MW. Finished 29 / d

https://www.mawazin.net/Details.aspx?jimare=17309

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Iran Unleashes Death Sentence To "Sultan Of Coins" For Rigging FX Markets

 

by Tyler Durden

Sat, 10/27/2018 - 19:45

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While most market watchers have grown numb to the headlines about various western bankers and traders rigging markets (from Libor to precious metals to FX), who receive wrist-slaps and sternly-worded emails for their misdeeds; things are a little more serious in Iran...

One day after US authorities acquitted a "cartel" of currency riggers, accused of manipulating FX markets against clients in a multi-billion-dollar, multi-year scam; Radio Free Europe reports that Iran's Supreme Court has upheld death sentences given to two financial traders convicted of illegal currency trading and "disrupting the economy."

With Washington waging all-out financial warfare against Iran, forcing its currency to collapse...

As RFERL.org reports, Iranian authorities on October 22 identified the two men as Vahid Mazloumin and Mohammad Esmail Ghasemi, whom local media dubbed the "Sultan of Coins" after he was arrested and found hoarding two tons of gold coins that he allegedly used to manipulate the Iranian currency.

Many Iranians have stocked up on gold coins and other safe haven investments as the rial has plummeted this year to record lows against the U.S. dollar.

While most Wall Street analysts attribute the currency's fall mostly to the pressure from U.S. sanctions, which Washington started reimposing in August, the government has responded to the economic crisis by blaming local currency traders for the rial's fall and setting up special courts to try them for alleged capital crimes.

The two men sentenced to death first went on trial on September 8 over charges of "disrupting the economy" through the creation of a network trading in illegal currency and gold coins, Iranian media reported.

Judiciary spokesman Gholamhossein Mohseni Ejehi said the swift conclusion of their cases before the Iranian Supreme Court serves as a "warning to opportunists" who aim to "disrupt the economy" during the time of the "enemy's pressure" on Iran -- in an apparent reference to the economic sanctions that the United States is reimposing since withdrawing from Iran's nuclear agreement in April.

Authorities are clearly making an example of the two currency traders who were sentenced to death were convicted of "spreading corruption on earth," a term used for crimes punishable by death in the Islamic Republic.

RFERL notes that a third person, Hamid Bagheri-Dermani, was also accused of corruption and sentenced to death in preliminary hearings. His case is still up for appeal before the Supreme Court.

So, the lesson of the day is simple - if you want to manipulate markets for your own good, move to the land of the free (from consequences)... and 'suck it up buttercup' if you're hard-earned fiat currency collapses into worthless paper.

https://www.zerohedge.com/news/2018-10-27/iran-delivers-death-sentence-sultan-coins-rigging-fx-markets

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The Iranian rial was already worthless prior to sanctions , another zero to the right of the decimal relative to the dinar . They must be trading in another currency , Chinese yuan perhaps .

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28-10-2018 10:17 AM
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Baghdad / News

Iran will find itself isolated from global and neighboring markets on October 4, the date for the implementation of US sanctions, on the OPEC member state, to take Brent a quick course of movement during the session, between the decline in supplies and the speed of compensation shortfall Expected in the market.

Several countries have declared their boycott of Iranian oil before the sanctions, such as India, South Korea and China, and other Asian countries. Iraq said it would halt the transfer of crude from the northern Kirkuk oilfield to Iran in November in compliance with sanctions.

US President Donald H. Trump's decision last May to withdraw the United States from the nuclear deal with Tehran in 2015 and to re-impose sanctions on Iran put the next Iraqi government headed by Prime Minister Adel Abdul Mahdi in a difficult position. Close with neighboring Iran.

Kirkuk is one of the largest and oldest oil fields in the Middle East. Iraq began last year to ship oil from Kirkuk to Iran for use in refineries, and Iran agreed to hand over a similar amount of oil to the ports of southern Iraq.

US Energy Secretary Rick Perry said last month that "Trump's management is not considering withdrawals from US emergency oil stockpiles to offset the impact of imminent sanctions on Iran, and instead will rely on major oil producers to keep the market stable."

He added that 'about 300 thousand barrels per day of oil may reach the markets if Iraq allows the flow of crude from the Kurdistan region in the north of the country'.

Despite the imminent application of sanctions, oil prices rose  last week, supported by expectations that sanctions on Iran would put pressure on global supplies, but oil contracts ended the week on a loss as fuel demand expectations were hit by a surge in equity markets and fears of trade wars. .

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 Arab and international


Economy News _ Baghdad

Iran has started selling crude oil to private companies for export as part of a strategy to counter US sanctions, which come into force on November 4 and aim to halt Iran's main crude oil exports, the Oil Ministry's website said. 
The state controls Iran's crude oil trade. Officials said private oil refiners could only buy crude oil earlier in order to export oil products. 
Of the 1 million barrels put on the energy exchange, the sale of 280,000 barrels at 74.85 dollars a barrel, the site said. 
Iran said in July it would start selling oil to private companies as part of its efforts to continue exporting oil and would take other measures to tackle sanctions after the United States asked its allies to halt all Iranian oil imports from November.
Crude oil sales on Sunday increased by 35,000 barrels without naming buyers, the website said. 
Washington imposed sanctions on Iran's financial, metal and automotive sectors in August after the United States pulled out of a nuclear deal in 2015 that lifted sanctions against Tehran in exchange for restrictions on Iran's nuclear program.


Views 10   Date Added 29/10/2018

 
 
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Opening a new banking system between China and Iran

09:42 - 29/10/2018

 
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Mawazine News - 
Beijing plans to open a new banking system to continue its financial and banking cooperation with Tehran, with the possibility of severing banking ties between China's Kunlun Bank and Iranian businessmen. 
Related sources said Monday in Beijing to IRNA that this alternative system is being set up and established, and experts from both countries have already held several meetings to discuss the details. 
According to the sources, Kunlun Bank, due to US pressure, did not guarantee banking relations with Iran from Nov. 1, asserting that the system, which is to replace Kunlun Bank, is due to begin on November 1 or delay its activities. 
Meanwhile, the Iranian Chamber of Commerce in China, in a meeting with Iranian and Chinese officials, called for their demands to be identified in the form of a new system in which the problems of Kunlun Bank will be removed in this new system.
However, experts believe that in the new model being studied by the Chinese, there can be no other case than creating a new bank, otherwise the other methods will be a problem. 
It may take some time to build alternative structures by China, it is expected that the new system to postpone 2019. 
Kunlun Bank is designed trust fund for the exchange of China with Iran, and in the previous period of US sanctions on Iran, Washington imposed a ban on the fund because of the continuing activities Trade with Tehran

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2018-10-29T082621Z_1_LYNXNPEE9S0OJ_RTROP
 

Hyundai Engineering Cancels $ 521 Million Deal With Iran

By Reuters On October 29, 2018 

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Hyundai Engineering and Construction said on Monday it had canceled a 595 billion won ($ 521 million) deal to build a petrochemical complex in Iran, noting that Iran's ability to finance the deal was damaged by the possibility of US sanctions on Tehran.

In a regulatory disclosure, Hyundai Engineering and Construction said a consortium that led the project had canceled the contract on Sunday.

"The contract was canceled because of the lack of funding, which was a precondition for the operation of the contract, where external factors such as economic sanctions on Iran worsened," Hyundai Engineering and Construction said in its disclosure.

As of November 4, the United States will impose sanctions on Iran's oil exports as part of US President Donald Trump's efforts to force Tehran to accept an agreement that would further restrict its nuclear and missile programs.

 
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"Iran's sale of crude oil to private companies for its export comes in the context of its attempts to counter US sanctions," said analyst Nayel al-Jawabra. "These maneuvers are temporary and will soon disappear."

Al-Jawabra added that the reason for the Iranian maneuver was also due to the fact that many international companies were withdrawing large agreements with Tehran for fear of their non-compliance or their ability to finance the dollar.

Tehran is selling crude oil to private companies for its export, which starts on November 4 and aims to stop Iran's main crude oil exports, the Oil Ministry's website said.

More details with the economic analyst, Nael Joubarah during his participation with the media Hassan Fouda.

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US report reveals Iran's banking techniques to launder money and avoid sanctions
Washington - The New Arab
25 October 2018

 

US experts believe that the resumption  of large-scale US sanctions on  Iran would pose a serious Iranian threat to  money laundering over the Internet, with banks being the main target. But they also believe sanctions could be an opportunity for financial institutions to step up efforts in cybersecurity. 

This was reported in an analytical report published by the agency "Bloomberg" on Thursday, and prepared by William J. Rich, an international affairs specialist at the Council on Foreign Relations, who previously served as a US Treasury attaché in both the UAE and Oman.

Rich begins his report by saying that on November 5, many banks will be a scary day for them. Washington is re-imposing its sanctions on Iran, putting pressure on its faltering economy and increasing the desperation of the regime for the loss of hard currency. 

But the report warns that a sensitive side effect of this situation is receiving little attention. Iran is likely to try to avoid sanctions by money laundering using the Internet, so banks will be a prime target for this process.
 
The expert explains how online money laundering is "a fairly simple concept." Hackers use a bank's computer system to perform a prohibited financial transaction by changing important information or disabling anti-money laundering controls. 

He believes this method is "effective because it is subtle". One only needs to disguise the illegitimate aim or partner subject to sanctions through another permitted treatment. 

It is certain, according to the report, that Iran has the motive for such attacks. In the face of currency weakness and the looming economic recession, the sale of oil and the acquisition of dollars have become very urgent in order to support the Iranian riyal and fund proxy wars abroad.

Adding to the pressure, he said, recent efforts by the United States and the United Arab Emirates have made it difficult for Iran to carry out illegal activity across Dubai, which has long been the traditional backbone of the financial system. 

Iran has shown that it has the capacity to do so. Starting in 2011, cyber attacks were directed against dozens of US banks, resulting in the loss of millions of dollars. 

Theft of B3.4 billion dollars

recently, hackers stole the size of 31 terabytes (ie 31 thousand gigabytes) of at least documents and documents from academic institutions and US companies and government agencies, a theft valued at about $ 3.4 billion, according to the report.
 
Due to the size of its hard currency needs, Iran may seek assistance from other capable countries or criminal groups, launching new attacks to evade US sanctions. 

The expert believes that the finance sector is largely unprepared for this type of threat. In recent years, the sector has focused on preventing large-scale piracy, such as the $ 81 million it paid from the Bangladesh Bank in 2016. 

As a result of the daring and scale of those involved, the attack was the subject of dramatic press coverage and countless debates on security Financial in financial conferences. But the window of this type of penetration is fading, because banks and regulators are investing in technology, monitoring and training, to prevent unauthorized transfers of funds. 

Tracking cyber processes ... difficult

However, the report suggests that money laundering using means provided by cyber technologies was not on the radar of interest in the same way, and may be difficult to prevent. 

According to the US expert, pirates can change customer data skillfully, to avoid checklists of sanctions or to exempt the account from the central scrutiny that banks apply to customers from countries subject to sanctions, while the controls exceeded in the banks' remote branches of a special risk.
 
The Danish bank, the largest bank in Denmark, is currently facing civil penalties and possible criminal charges after its Estonia branch has spent up to $ 235 billion in bribes. 
Financial institutions are not powerless,

but the American expert believes that financial institutions are not powerless in the face of this threat, but they must commit to constant monitoring of account behavior, data integrity, personnel and supply chains. 

Start-ups, according to the expert, should invest in IT programs that create a detailed internal system for recording important data, which may make manipulation more difficult.

Thus, the development of such a system is characterized by "contextual" security features, which take into account elements such as location, historical behavior and multivariate authentication, before allowing access to the system or making changes, which can help to block the alien activity. According to the expert, a set of these features may allow administrators to monitor hackers before they penetrate controls.

One of the most common concerns is manipulating devices (not programs), which can undermine even the most secure information networks. Here, according to the expert, banks will need to review global supply chains to ensure the safety of computers and networking equipment. Secure cloud storage and access through virtual desktops can reduce the amount of devices to be protected. 

The risk of piracy remains constant.

However, the most sophisticated security systems can be penetrated by the people who use them, while hackers will continue to use "phishing" attacks and attacks similar to targeting indifferent users.
 
But real-time training, along with continuous testing of cybersecurity awareness, remains essential. It is also vital to have an internal threat monitoring program to monitor staff with important access to the information system. 

Finally, better sharing of information between banks, governments and the academic community will enable an institution that has been attacked to warn all others. 

The expert concludes that an advisory evidence issued in this regard on the Treasury on 11 October, detailing Iran's efforts to misuse the international financial system, is a good example in this direction.

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The oil minister talks about the nature of his ministry's handling of US sanctions against Iran

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Oil extraction

13 minutes ago

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Digital Media NRT

The new oil minister, Thamir al-Ghadhban, said on Wednesday that the current price of crude is "fair" and Iraq, OPEC's second largest oil producer, would be responsible for supplying the market with abundant supplies .

 Al-Ghadhban said in a press statement on October 31, 2018 that the Ministry of Oil is seeking to increase production capacity and support foreign energy companies to help them overcome any bureaucratic obstacles.

"We will do our utmost to stabilize the market," the minister said after taking office, replacing Jabbar al-Allaibi.

"The price of oil, for now, is a fair price," he said in response to a question about the upcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) in December.

"He did not rise too much, he is not a hundred dollars a barrel, not $ 30 a barrel, and we will take care of our country in the first place, but we will not ignore the interests of consumers."

Ghadhban said that Iraq would overcome its national interest and "review" current oil exports to Iran, estimated at less than 30 thousand barrels per day, adding that this is a simple problem in light of that quantity.

The International Energy Agency (IEA) estimates that the maximum production capacity that Iraq can sustainably pump is 4.8 million barrels per day, leaving little room for significantly increased production in the short term. Most Iraqi crude exports are destined for Asia .

One of the immediate challenges facing Ghadban and the other members of the new government is how to deal with the impending US sanctions on Iran.

http://www.nrttv.com/AR/News.aspx?id=6006&MapID=5

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Iraq could raise output capacity by 1 million bpd in 10 years, says Wood Mackenzie

The energy consultancy says around 1.1 million bpd of supply from neighbouring Iran will be lost to the market due to US sanctions

 
 
 
 
 
 
 
 
Iraq, the fourth-largest oil producer in the world, is working towards raising output capacity to 6.5 million bpd by 2022. Reuters Iraq, the fourth-largest oil producer in the world, is working towards raising output capacity to 6.5 million bpd by 2022. Reuters

Iraq, the second-largest producer within Opec, could raise production capacity by one million barrels per day in ten years buoyed by healthy momentum in upstream activity, according to energy consultancy Wood Mackenzie.

“Looking at everything on a project-by-project basis, looking at FIDs [final investment decisions], [we’re] very positive on growth for Iraq … by a million barrels per day (bpd) from 2017 to 2025. It’s over 10 years, but it’s relative,” said Ann-Louise Hittle, vice president of macro oils, at Wood Mackenzie.

The forecast by the Edinburgh-headquartered firm is conservative compared with Iraq’s own ambitions to raise production capacity. The federal Iraqi oil ministry has set aside a target of raising production capacity to 6.5 million bpd by 2022. The country produced 4.65 million bpd in September, according to the latest figures released by Opec.

Outgoing Iraqi oil minister Jabbar Al Luaibi had said earlier this year that the country was confident of breaching its desired five million bpd target this year. Iraq accounts for 8.8 per cent of proven reserves of oil worldwide, much of it is cheap, and easily extractible. However, its upstream sector has been crippled by decades of war, which forced a brain drain of talented engineers, and also led to a shutdown of refineries.

With a new Iraqi government in place, and the defeat of the Islamic State, which had taken over key fields and refineries, the government is now moving towards rehabilitating the country’s energy and power sector, including reducing the flaring of gas from its southern-oil fields.

The Iraqi government has begun to invite interest in its oil field development schemes, notably tendering a few blocks earlier this year. It also signed a two-year contract in April with China's Anton Oilfield Services and London-based Petrofac to operate its giant Majnoon field, which it took over after Anglo-Dutch major Shell’s exit from the project.

The ministry also said it aimed to boost its light crude exports to a million bpd next year, even as it presses for waivers from US sanctions against its neighbour and ally Iran, with whom Baghdad had entered into an agreement to truck oil from its fields at Kirkuk.

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Read more:

Iraq to reach 'zero gas flaring' by 2021, says oil minister

Iraq could save $5.2bn in four years from flared gas reduction, says Siemens

_____________

Iraq’s plans for waivers and production capacity boost come amid an anticipated decline in supply from Iran, which is struggling to get its oil to market prior to the imposition of sanctions by the US administration on November 4.

Wood Mackenzie estimates that 1.1 million bpd of Iranian oil is likely to be lost to the markets.

“We’re looking at fall from 3.8 to 2.7 million bpd from the spring to November,” said Ms Hittle. "China is going to be in the range of 500,000 bpd. We’re looking at continuation of exports to Turkey, exports to India on a reduced basis of 150,000 bpd. Crude will go to Syria, maybe 50,000 bpd and condensate exports will continue at a cargo-by-cargo basis at about 10,000 bpd."

WoodMackenzie however anticipates condensate exports to hold steady due to the start-up of a couple of condensate splitters in Iran.

"One has started up already and it’s going to ramp up once we go into the next year and help absorb the condensate that’s spilling out of South Pars,” she said.

South Pars is the world’s largest gas field and is shared with Qatar, which refers to the concession as North Dome.

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 Arab and international


Economy News _ Baghdad

China's imports of Iranian crude oil in September fell significantly from the same month last year, a sign that China is curbing its purchases from Tehran as Washington prepares to re-impose sanctions on Iran's oil sector. 
According to data from the General Administration of Customs of China, shipments of oil from Iran reached 2.13 million tons in September, or 518,300 barrels per day, down 34 percent from 3.22 million tons in September last year.

China's General Administration of Customs said in a statement on its website on Thursday that it publishes monthly data on imports and exports of primary commodities, including the country of origin of imports and the country of destination for exports.

The customs office had previously provided the data for fees but suspended the service in April.


Number of Views 4   Date Added 01/11/2018

 
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Rohani calls on Iranians to prepare for tough times because of sanctions

Rohani calls on Iranians to prepare for tough times because of sanctions
 

 October 31, 2018 3:21 PM
Direct : Iranian President Hassan spiritual warned that his people will face a tough time when US sanctions against the country will enter into force, pointing at the same time that the government will make efforts to mitigate.

The United States is set to begin sanctions on Iran on Nov. 4, which is to punish companies that import crude from Tehran, against the backdrop of Washington's withdrawal from Iran's nuclear deal in May.

"This is a new injustice," the official IRNA news agency quoted Rohani as saying.

"In the past few months, his people have faced difficult times, and the coming months are likely to be more difficult, but the government will use all its powers to reduce those problems," he said.

In the past few months, the cost of living in Iran has risen, demonstrations against corruption and corruption have been rampant, and the local currency has fallen against the dollar to its lowest level ever as a result of sanctions threats as demand for the US currency has increased.

And about spiritual comments on oil, he said: "You can not reach the production of Iranian oil to zero or reduce it."

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Economy News _ Baghdad

The United States government has agreed to allow 8 countries to continue buying Iranian oil after a re-imposition of sanctions on Tehran next week, the Bloomberg news agency quoted a US official as saying.

The report noted that the eight countries, including South Korea, a close ally of the United States, Japan and India.

Iran's major oil customers, all in Asia, have been seeking exemptions from sanctions allowing them to continue buying some crude from Iran.

Bloomberg said a list of all countries receiving exemptions was expected to be officially announced on Monday.


Number of Views 18   Date Added 02/11/2018

 
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Economy News _ Baghdad

TEHRAN (Reuters) - Turkey has received no written notice of any exceptions to the purchase of Iranian oil after the United States reinstates sanctions on Tehran next week, but has heard rumors about it, the energy minister said on Friday.

The US government has agreed to allow eight countries to continue to buy Iranian oil after a re-imposition of sanctions on Tehran next week, the Bloomberg news agency quoted a US official as saying. The list includes close allies - South Korea, Japan and India.


Views 15   Date Added 11/02/2018

 
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America gives 8 countries exceptions to Iran sanctions

America gives 8 countries exceptions to Iran sanctions
 



 Twilight News    
 one hour ago

The United States government has agreed to allow eight countries to continue buying Iranian oil after a re-imposition of sanctions on Tehran next week, the Bloomberg news agency quoted a US official as saying on Friday. 
The report noted that the eight countries, including South Korea, a close ally of the United States, Japan and India. 
Iran's major oil customers, all in Asia, have been seeking exemptions from sanctions that would allow them to continue buying some crude from the Islamic Republic. 
Bloomberg said a list of all countries that would receive exceptions was expected to be officially announced on Monday. 
A Chinese official told Reuters talks with the US government were underway and that results were expected in the next two days.
"We believe Trump will agree to import some quantities of China, similar to the treatment India and South Korea receive," Clayton Allen of Hight Securities said in a note on Friday. 
But analysts said any possible exceptions to Iran's oil sanctions would probably be temporary. 
"The United States may use exceptions to proceed with implementation, but these exceptions will not be applied indefinitely," Allen said. 
Goldman Sachs said it expected Iran's crude oil exports to fall to 1.15 million bpd by the end of the year, down from about 2.5 million bpd in mid-2018.

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Editorial Date: 2018/11/2 11:51 • 1090 times read
America excludes 8 countries from sanctions on Iran
(Reuters) - The United States government has agreed to allow eight countries to continue buying Iranian oil after Tehran's sanctions are reinstated next week, the Bloomberg news agency quoted a US official as saying on Friday.
The report noted that the eight countries, including South Korea, a close ally of the United States, Japan and India. 
Iran's major oil customers, all in Asia, have been seeking exemptions from sanctions that would allow them to continue buying some crude from the Islamic Republic. 
Bloomberg said a list of all countries receiving exemptions was expected to be officially announced on Monday. 
A Chinese official told Reuters talks with the US government were underway and that results were expected in the next two days. 
"We believe that Trump will agree to import some quantities of China, similar to the treatment received by India and South Korea," Clayton Allen of Hight Securities said in a note Friday. 
But analysts said any possible exceptions to Iran's oil sanctions would probably be temporary.
"The United States may use exceptions to proceed with implementation, but these exceptions will not be applied indefinitely," Allen said. 
Goldman Sachs said it expected Iran's crude oil exports to fall to 1.15 million barrels per day by the end of the year, down from about 2.5 million bpd in mid-2018.
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  • yota691 changed the title to Iranian official calls for negotiations with Washington in Iraq
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      Old Thread if anyone wants to view history..
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