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Oil announces the transfer of a copy of the oil and gas law to the Council of Ministers for approval


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Welcome To Page 3 Of “ Let’s Bro Iraq - Part 47 & 1/8th “ ! :o 

 

:D  :D  :D 

 

 

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Barzani's party expects a breakthrough in the talks in Baghdad and Erbil and sets a date for the agreement

 
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19:52 - 02/24/2021
 
 

The deputy of the Kurdistan Democratic Party, Pierre Taher, expected, on Wednesday, that an agreement would be reached between Baghdad and Erbil early next week.

"The political blocs continue to insist on their stance not to accept the region's current share in the budget," Taher said, "but there is a positive breakthrough in the ongoing talks and contacts between the two parties, specifically with regard to paragraph 11, which is the focus of the dispute between the two parties."

He added that "if things go well, the beginning of next week will witness the agreement between the two parties, and the confirmation of the region’s share in the budget, and we are awaiting the approval notification from the political blocs on the last message of the regional government so that the Kurdish delegation will then head to Baghdad."

As Baghdad and Erbil did not reach an agreement, the Kurdistan Regional Government canceled the visit of the Kurdish delegation headed by the Vice President of the Regional Government, Qubad Talabani, which was scheduled to take place yesterday, Tuesday. 

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Looks Like There’s A New Deputy In Town ! :o 

 

:D  :D  :D 

 

 

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Al-Kazemi Assigns Ihsan Al-Yasiri The Duties Of The Deputy Governor Of The Central Bank

 

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25th February, 2021


Prime Minister Mustafa Al-Kazemi agreed to assign Ihsan Shamran Al-Yasiri the duties of the Deputy Governor of the Central Bank of Iraq.

According to a document appended to the signature of the Governor of the Central Bank, Mustafa Ghaleb Makhaif, issued yesterday, Wednesday, 2/24/2021, it was decided to assign Al-Yasiri the duties of the bank's deputy governorate for administrative affairs and agency.

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And Here’s Another ‘Oil And Gas Law’ Article ! B) 

 

:D  :D  :D 

 

 

Oil reviews the final version of the draft federal oil and gas law

 

25/02/2021 

 

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Economy News - Baghdad

 

Oil Minister Ihsan Abdul-Jabbar stressed the importance of expediting the passage of the federal oil

and gas law, and its importance in regulating the management of oil and gas wealth in Iraq

Ismail said in a statement seen by "Al-Eqtisad News", "The meeting of the opinion committee at the Ministry of Oil that was held on Wednesday 24 February 2021 included discussion and review of the final version of the Federal Oil and Gas Law," stressing that this copy will be referred to the Council of Ministers for approval

He explained that, "after the completion of its review by the concerned authorities in the ministry, the Council of Ministers will review this copy, and in turn refer it to the House of Representatives in order to enact this law

The Minister of Oil indicated, "The ministry's keenness to pass a law that contributes to the development of the oil and gas industry, and the optimal investment of the national wealth in Iraq in order to support the national economy

It is noteworthy that the Iraqi Council of Ministers directed, last year, to expedite the completion of the oil and gas bill

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It’s Time To Pump It Up ! :o 

 

:D  :D  :D 

 

 

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A meeting in OPEC to increase Iraq's quota by 60 thousand barrels

 

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25th February, 2021

 

The Director General of the Oil Marketing Company "Sumo", Alaa Al-Mousawi, confirmed, on Thursday, that a meeting will be held at the beginning of next month in "OPEC" to increase production by 500 thousand barrels per day

Moussawi said in an interview with the Iraqi News Agency and followed by "Economy News", that Iraq's share of the increase is 60 thousand barrels per day, adding that "we are ready to manage the oil file in the region after the federal government agreement with Kurdistan

He explained that "the federal government has the exclusive authority to manage oil throughout Iraq

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3 hours ago, Half Crazy Runner said:

The “final” or the “most final” or the “very last final” or the “absolute final” ..? 🤪 :jester:


So what your saying, correct me if I’m wrong is you’re feeling a sense of finality about this ??? :lmao:

Be great to get off this 18 years Rodeo ...You have no idea the saddle sores I’ve got from this  :rodeo:

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22 hours ago, NEPatriotsFan1 said:

I was thinking thong and flip flops, personally 

 

19 hours ago, nannab said:

So you and Davis are coming to the party as twins?  :lmao::lmao:

  

Although Davis said nothing about flip flops just his leopard print thong. :lol:


Fear The Thong ! :o 

 

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:D  :D  :D 

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Hussein: We have high oil coordination with Saudi Arabia and the Gulf, waiting for a case to invest in Iraq

 

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24th February, 2021


Iraqi Foreign Minister, Fuad Hussein said that there is high coordination in oil policy with the Gulf oil countries, especially with Saudi Arabia, whether it is bilateral or within the framework of "OPEC". 

Hussein said in an interview with the London-based newspaper Al-Sharq Al-Awsat in its Arabic edition published today, Wednesday, that Saudi Arabia and Iraq play an important role in this organization, and coordination continues between the two countries in all fields related to energy, as it is a vital issue for the country's economy.

He pointed to the existence of a memorandum of understanding to import 400 megawatts from the Gulf network, saying: The dialogue has reached a high level, and we still need electric power, and I believe that there are discussions between specialists from Iraq and the Gulf states about how to support the power stations at home, and not just buy Electricity. Besides the problem of producing electricity, there is another problem in the distribution networks. So we need to build infrastructure for electrical distribution networks, and Gulf companies can play a role in that.

On investment projects in Iraq, the minister said, "When we talk about activating memoranda of understanding, some of them are related to these projects. There are investment projects, and in the energy and electricity sector, petrochemicals, agriculture, housing, contracting, and others. But these investment projects also relate to the political situation and political relations." It is also related to the security situation, so when there is a threat to the security situation in a certain area, investments do not enter and the investor waits.

However, he said that the security situation in Iraq has improved compared to the years from 2014 to 2017. However, recently some attacks have started in different regions, and this affects the internal economic situation and the entry of funds from abroad. There are memoranda, but in return these issues must be considered, and cooperation with the surrounding countries aims to positively affect the salvation of these attacks and the groups that destabilize the situation internally.

Hussein continued, "Sometimes security strikes affect the coming of investors, especially the Gulf, but the security situation today has become stable, except for these recent attacks, as the more the security situation improves, the better the investments and the attractiveness of foreign capital, and I see many companies and investors from the Gulf have them." Willingness to invest Investment squares in Iraq are wide, as we need investments in agriculture, tourism, energy, petrochemical, services, real estate and other sectors. 

He stressed that "investors, especially the Gulf, are waiting for a state of complete stability in Iraq in order to invest and bring in capital, as Gulf companies can play a role in building the Iraqi economy."

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23 minutes ago, horsesoldier said:


So what your saying, correct me if I’m wrong is you’re feeling a sense of finality about this ??? :lmao:

Be great to get off this 18 years Rodeo ...You have no idea the saddle sores I’ve got from this  :rodeo:

I wish this journey had been half as exciting as a rodeo... 🥱

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28 minutes ago, horsesoldier said:


So what your saying, correct me if I’m wrong is you’re feeling a sense of finality about this ??? :lmao:

Be great to get off this 18 years Rodeo ...You have no idea the saddle sores I’ve got from this  :rodeo:

Let me know when you get confident. I will drink beer  and go bust a bronc.

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A Kurdish leader: The Kurdistan Regional Government will approach the “American door” to resolve the issue of Kurdistan’s share of the 2021 budget

 

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02/25/2021 21:33


Baghdad today - Kurdistan 

 

Today, Thursday, a member of the Kurdistan Democratic Party, Repin Salam, confirmed that the regional government will knock on all doors in an attempt to reach an agreement with Baghdad regarding its share in the budget.

In an interview with (Baghdad Today), Salam said, "The region will knock on all legitimate doors, including the mediation of friendly countries and the United States, and this was what was in the last call that the regional government head, Masrour Barzani, brought together with former US Secretary of State Mike Pompeo." 

He added that "the region is ready for mediation by the United States, the United Nations mission, or any other country, as long as the dispute with Baghdad is political and not technical, because opposition to voting on the region's share in the budget is purely political, especially as the region adheres to all the conditions of the federal government."

And local media had indicated that the region had requested mediation by the United States with the federal government in an attempt to reach an agreement to fix Kurdistan's share in the budget. 

The Kurdistan Regional Government confirmed on Wednesday (February 24, 2021), the continuation of negotiations with the federal government in Baghdad, in the presence of a readiness, which it described as "the best", to solve the issue of the 2021 budget, during the Council of Ministers held its regular weekly meeting headed by the Prime Minister, Masrour Barzani and in the presence of the Vice President of the Council Minister Qubad Talabani.

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Oil fell 1% due to the rise in the US dollar and expectations of an increase in supply

 

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26th February, 2021

 

Oil prices slid on Friday as the collapse in bond prices led to gains for the US dollar and expectations have grown that as oil prices return to pre-pandemic levels, more supply will likely find its way into the market

US West Texas Intermediate crude futures fell 96 cents, or 1.5 percent, to $ 62.57 a barrel, abandoning all of the gains it made on Thursday. Brent crude futures for April delivery, which expire on Friday, fell 86 cents, or 1.3 percent, to $ 66.02 a barrel, after losing 16 cents on Thursday. May's more active contracts fell to a low of $ 65.04 a barrel earlier, dropping 93 cents, or 1.4 percent, to $ 65.18

"Crude oil has moderately retreated from its recent highs in light of an atmosphere of risk aversion as Asian stocks fell broadly to follow the weak performance of Wall Street," said Margaret Yang, strategy at Singapore-based Daily Fix

She added that the selling in the bond market, which led to the rise of the US dollar and increased returns, puts pressure on primary commodities that do not yield returns

The appreciation of the US currency increases the cost of oil priced in dollars to buyers of crude in other currencies

Despite the drop in prices today, Brent and West Texas Intermediate crude are on their way to achieving gains of about 20 percent since the beginning of this month, as markets are experiencing turmoil in the United States, while optimism about the improvement in demand increases with the distribution of vaccines against the Corona virus

Investors are betting that a meeting next week of the Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC +, will result in the return of more supplies to the market

US crude prices are also facing adverse factors due to the loss of refinery demand after the closure of several facilities on the coast of the Gulf of Mexico during a winter storm last week

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