The Iraqi Economy ... The Predicament Of The Situation And The Problem Of The Solution !

[Mary B]

The General Customs Authority: The implementation of the automation system is near 5 border outlets

by Moahmmad EditorIraq news3 Hours ago

The General Customs Authority confirmed the opening of the Arar border crossing with the Saudi side, after its rehabilitation works had been completed in accordance with the latest international technologies

The director of the General Customs Authority, Khaled Salah El-Din, said that the procedures to ensure the success of the opening operations of the Arar border crossing with the Saudi side were completed and pending the final agreement on a specific day to announce the official opening of it, indicating that its opening would contribute to supporting the country's economy, and that its rehabilitation operations were carried out according to the latest international models. Applicable in border crossings.

Salah El-Din revealed a maximum period of five months for the application of the automation system in five outlets, two of which are in the south and two in the western region, and one at airports, to assess the experiment, and if successful, it will be circulated to all outlets.

 

https://altahreernews.com/17712/

[Mary B]

The General Customs Authority: The implementation of the automation system is near 5 border outlets

by Moahmmad EditorIraq news3 Hours ago

The General Customs Authority confirmed the opening of the Arar border crossing with the Saudi side, after its rehabilitation works had been completed in accordance with the latest international technologies

The director of the General Customs Authority, Khaled Salah El-Din, said that the procedures to ensure the success of the opening operations of the Arar border crossing with the Saudi side were completed and pending the final agreement on a specific day to announce the official opening of it, indicating that its opening would contribute to supporting the country's economy, and that its rehabilitation operations were carried out according to the latest international models. Applicable in border crossings.

Salah El-Din revealed a maximum period of five months for the application of the automation system in five outlets, two of which are in the south and two in the western region, and one at airports, to assess the experiment, and if successful, it will be circulated to all outlets.

 

https://altahreernews.com/17712/

[Mary B]

Parliamentary Economy: The materials entering through the outlets of the region negatively affect the national product

09:00 - 07/2220

 

  

Information / special
The Parliamentary Economic Committee indicated that the materials, goods and goods entering through the border outlets in Kurdistan began to hit the local product and affect it negatively, pointing to the loss of many traders and farmers due to the lack of control over the region's outlets.
Committee member Nada Shaker Jawdat told / "The information" that "a lot of foodstuffs, goods and goods are still entering through the outlets of the Kurdistan region, despite their entry into other ports as a result of their availability inside the country through local production, especially foodstuffs."
She added that "the food entered through the region has caused great losses in local production, and this is a destruction of the Iraqi economy, despite the benefits that Kurdistan gets."
She pointed out that "everyone is awaiting the measures and understandings that the government will take in order to control those outlets and submit them all to the authority of the state." 25 n ended

 

https://www.almaalomah.com/2020/07/22/486173/

 

[Mary B]

Oil falls below $45

 

 

Economy
Oil
Prices
 2020-08-07 10:20
  
SHAFQ NEWS / OIL FELL BELOW $45 PER BARREL ON FRIDAY ON FEARS OF A SLOWING RECOVERY IN FUEL DEMAND AMID A RETURN TO THE PACE OF CORONAVIRUS INFECTIONS, BUT A PLEDGE BY OPEC MEMBER IRAQ TO FURTHER CUT PRODUCTION IN AUGUST GAVE SOME support.

The resurgence of the growing frequency of casualties remains a major problem for markets and demand expectations. Statistics indicate that infections in the United States are increasing in a number of states.

At the same time, India recorded an unprecedented daily jump in casualties.

By 1345 GMT, Brent crude was down 56 cents, or 1.2 percent, to $44.53 a barrel. West Texas Intermediate fell 44 cents, or 1.1 percent, to $41.51.

Both benchmark crudes are on weekly gains of about two percent.

Dealers are also watching talks in the United States on the upcoming stimulus package to address the fallout from the Coronavirus. Democratic leaders in the U.S. Congress and senior aides to President Donald Trump failed to make significant progress On Thursday.

Oil recovered from record highs in April when Brent fell below $16, a 21-year low, partly because of an unprecedented production cut agreement signed by OPEC and its allies.

The Saudi energy minister and his Iraqi counterpart this week stressed their commitment to the agreement. Iraq is a late one in the full implementation of what it is obliged to do.

 

https://shafaaq.com/ar/اقتصـاد/النفط-يتراجع-دون-45-دولارا

 

[Mary B]

Including Iraq ... 6 Gulf states affirm their commitment to the "OPEC +" agreement and the compensation system to revive the oil market

2020-08-07

Yes Iraq - Baghdad

The ministers of energy, oil and gas in the UAE, Saudi Arabia, Kuwait, Bahrain, Oman and Iraq issued a joint statement on recent developments in global oil markets.

And Prince Abdulaziz bin Salman bin Abdulaziz Al Saud conducted; Saudi Energy Minister, Suhail bin Muhammad Faraj Faris Al Mazrouei, UAE Minister of Energy and Infrastructure, and Khaled Ali Al-Fadhel; The Minister of Oil of the State of Kuwait, and Sheikh Mohammed bin Khalifa Al Khalifa; The Minister of Oil in Bahrain, Muhammad bin Hamad al-Ramahi, the Minister of Oil and Gas in Oman, and Ihsan Abdul-Jabbar Ismail, the Minister of Oil in Iraq, made a joint phone call today, Friday, according to the Saudi News Agency, "SPA".

During the call, the ministers reviewed the most important recent developments in global oil markets, the continued recovery in the global economy and oil demand, and discussed the progress that has been made towards restoring balance to the oil market.

At the end of the call, the Ministers indicated that the recent signs of improvement in the global economy are very encouraging, and they commended the efforts made by countries around the world to reopen their economies in a safe manner.

The ministers reaffirmed their full commitment to the "OPEC +" agreement; And the importance of all countries participating in the "OPEC +" agreement achieving the targeted production levels for it, in order to accelerate the rebalancing of the global oil market, and for countries whose production increased to the rates established for them in the months of May, June and July, to compensate for these quantities.

The ministers expressed the importance of Iraq's role in the success of the "OPEC +" agreement.

The ministers reiterated that full commitment to the "OPEC +" agreement and the compensation system will accelerate the recovery of the global oil market for the benefit of oil producers and consumers, the energy industry, and the global economy as a whole.

Yesterday, the Iraqi Ministry of Oil, represented by the Oil Marketing Company "SOMO", revealed its plan for the month of August to fully adhere to the (OPEC +) agreement in order to achieve the balance of the oil market.

SOMO said that the plan is to make an additional reduction in compensation for what has not been achieved during the past months of the agreement’s life, up to 400,000 barrels per day during the month of August, in addition to the reduction stipulated in the agreement.

https://yesiraq.com/بضمنها-العراق-6دول-خليجية-تؤكد-التزام/

 

[Mary B]

Joint statement by the oil ministers of Iraq and the Gulf Cooperation Council countries

Publish date: 07.08.2020 | 19:36 GMT |money and business

Reuters Thaier Al-Sudani

Doura refinery in Baghdad

 

 

Today, Friday, the Iraqi Oil Ministry and the oil ministries of the Gulf Cooperation Council countries issued a joint press release on global oil prices.

In a phone call, the ministers reviewed the recent developments in the global oil markets, the continued recovery in the global economy and the demand for oil. They also discussed the "progress" that has been made towards restoring balance to the oil market.

The oil ministers said, in the statement, that "the recent signs of improvement in the global economy are very encouraging," praising "the efforts made by countries, all over the world, to reopen their economies in a safe manner."

The ministers reaffirmed their full commitment to the OPEC + agreement, and the importance of all countries participating in the agreement achieving their target production levels, in order to accelerate the rebalancing of the global oil market, and the importance of countries whose production exceeded the prescribed rates in the months of May and June. And July, make up for those volumes.

The ministers of the Gulf Cooperation Council stressed the importance of Iraq's role in the success of the "OPEC +" agreement.

The ministers indicated that full commitment to the "OPEC +" agreement and the compensation system will accelerate the recovery of the global oil market for the benefit of oil producers and consumers, the energy industry, and the global economy as a whole.

Prince Abdulaziz bin Salman bin Abdulaziz Al Saud, Minister of Energy in the Kingdom of Saudi Arabia, and Suhail bin Muhammad Al Mazrouei, Minister of Energy in the United Arab Emirates, participated in the phone call.

Khalid Ali Al-Fadil, Minister of Oil in the State of Kuwait, Muhammad bin Khalifa Al Khalifa, Minister of Oil in the Kingdom of Bahrain, Muhammad bin Hamad al-Ramahi, Minister of Energy in the Sultanate of Oman, and Ihsan Abdul-Jabbar Ismail, Minister of Oil in the Republic of Iraq also participated in the call.

 

https://arabic.rt.com/business/1142280-بيان-مشترك-لوزراء-نفط-العراق-ودول-مجلس-التعاون-الخليجي/