Iraqi News Tuesday Afternoon 6-21-22
Iraqi News Tuesday Afternoon 6-21-22
TLM724 Administrator BondLady’s Corner
Sumo: We Achieved The Highest Revenues In The History Of Iraqi Oil Exports
Money and business Economy News – Baghdad The Oil Marketing Company (SOMO) announced, on Tuesday, that it achieved the highest revenues in the history of Iraqi oil export, while it expected oil prices to remain within the range of 115 dollars per barrel until the end of this year.
The director of market research at SOMO, Muhammad Saadoun, said in an interview with the official news agency, that "we live within high prices, and so far have achieved the highest revenues in the history of Iraqi oil export by about 11 billion dollars for the past month, and we expect these rates to continue," noting that "indicators show The global oil price for this year will remain around $115.
Saadoun added: "We are in the third quarter of this year, and prices will witness more support and will stabilize during the next three months," noting that "the oil market is witnessing a challenge due to the Russian-Ukrainian war, which affected the market because Russia is one of the major oil producing and exporting countries, and the European embargo.
It will remain and may affect the European market, and from this aspect, agencies expect a decrease in Russian oil production estimated between one and a half million, and this means that oil supplies lose this number, and there is another aspect, which is that this conflict affected economic growth and this is reflected in demand expectations. ".
He pointed out that "most of the international energy agencies have revised their price forecasts and increased these expectations from $95 to 120 to be the expected price for 2022, and to 115 for major international banks, and some companies expected it to reach $150 in light of the current stockpile being at its lowest levels."
He pointed out that "the decision of the European Union to impose an embargo on Russian oil will be directly reflected in the expected revenues for the year 2023, which extend to 2024, with an increase to 120 dollars, and this is a large number." Views 129 Added 06/21/2022 - 2:29 PM Update 06/21/2022 - 6:30 PM https://economy-news.net/content.php?id=28582
SOMO expects oil prices to remain around $115 a barrel
Economie| 02:15 - 06/21/2022 Baghdad - Mawazine News, the Oil Marketing Company (SOMO), announced, on Tuesday, achieving the highest revenues in the history of Iraqi oil export, while it expected oil prices to remain within the range of 115 dollars per barrel until the end of this year.
The director of market research at SOMO, Muhammad Saadoun, said in an interview with the official news agency, which was followed by / Mawazine News /, that "we live within high price rates, and we have achieved so far the highest revenues in the history of Iraqi oil export by about 11 billion dollars for the past month, and we expect these rates to continue," pointing out He pointed out that "indicators show that international oil prices for this year will remain at around $115."
Saadoun added: "We are in the third quarter of this year, and prices will witness more support and will stabilize during the next three months," noting that "the oil market is witnessing a challenge due to the Russian-Ukrainian war, which affected the market because Russia is one of the major oil producing and exporting countries, and the European embargo. It will remain and may affect the European market, and from this aspect, agencies expect a decrease in Russian oil production estimated between one and a half million, and this means that oil supplies lose this number, and there is another aspect, which is that this conflict affected economic growth and this is reflected in demand expectations. ".
He pointed out that "most of the international energy agencies have revised their price forecasts and increased these expectations from $95 to 120 to be the expected price for 2022, and to 115 for major international banks, and some companies expected it to reach $150 in light of the current stockpile being at its lowest levels." He pointed out that "the decision of the European Union to impose an embargo on Russian oil will be directly reflected in the expected revenues for the year 2023, which extend to 2024, with an increase to 120 dollars, and this is a large number."
Iraq Stresses The Need For Oil Companies To Commit To Implementing Their Projects In Accordance With The Strictest International Standards
Economie| 08:56 - 20/06/2022 Baghdad - Mawazine News Minister of Oil Ihsan Abdul-Jabbar Ismail stressed, on Monday, the necessity of the oil companies’ commitment to implement their projects and commitments in accordance with the most accurate international standards in the oil industry and within the agreed timing stated, that Mawazine News received a copy of it, that this came "during his meeting with the Executive Director of (Oil SERV) Sarah Akbar."
The minister stressed the ministry's keenness to "enhance horizons of cooperation with local and international service companies that support schedule, as well as respecting their contracts with the Ministry of Oil, representing the federal government, with the aim of achieving a real partnership that serves common interests.
A statement by the ministry the local extraction sector, due to the importance of this in sustaining and increasing national production."
For her part, Sarah Akbar, CEO of OIL SERV, praised “the ministry’s cooperation and support for the work of oil services companies,” noting “her company’s support for the ministry’s projects in the sectors of “well drilling, well maintenance, surveys inside the well, wellhead maintenance, and production maintenance.”
Akbar stressed that "her company is implementing many projects inside and outside Iraq." Ended
https://www.mawazin.net/Details.aspx?jimare=197080
Transportation: Iraq's ports will work on the complete electronic platform system
Tuesday 21 June 2022 15:30 | economicNumber of readings: 121
Baghdad / NINA / - The Ministry of Transport announced that the ports of Iraq will work closely on the complete electronic platform system, stressing the need for the port law to be applied in regional waters.
The ministry said in a statement, "The General Company for Ports of Iraq chaired today the meeting of the Maritime Security Committee, noting that a unanimous vote was taken for the director of the Supreme Maritime Authority to join the Maritime Security Committee."/ End
The Government Talks About Its Achievements And Votes On An Agreement With Azerbaijan
Political | 04:27 - 06/21/2022 Baghdad - Mawazine News, the Council of Ministers voted on an agreement with China, while noting the increase in the number of schools within the Chinese agreement.
"The current government continues to work and provide services until the last moment of its life, and the Prime Minister recommended continuing to work to face difficult conditions and provide services to citizens," the council's spokesman and Minister of Culture, Hassan Nazim, said in a press conference after today's session, which was attended by Mawazine News.
He added, "Building schools within the agreement with China confirms the government's seriousness in providing services," noting that "the Chinese agreement includes building two thousand model schools in all provinces."
He pointed out, "Iraq enjoys great respect in the region, which has enabled the government to implement its programs and achieve economic partnerships," noting that "the current government came in an exceptional situation during which it assumed great responsibilities."
He pointed out, "The government has achieved multiple successes at the diplomatic level and openness to neighboring countries." Ended 29 / h https://www.mawazin.net/Details.aspx?jimare=197171
The low exchange rate of the dollar in the Iraqi market
Economie| 10:23 - 06/21/2022 Baghdad - Mawazine News, the dollar exchange rates fell, today, Tuesday, on the Iraqi Stock Exchange. Selling price: 148,350 dinars per 100 dollars, buying price: 148,250 dinars per 100 dollars. https://www.mawazin.net/Details.aspx?jimare=197109
The results of the foreign currency sale window Tuesday 06/21/2022
Announcement No. (4670)
Sale date - Tuesday 06/21/2022 the details Amount
Total sales for the purposes of strengthening balances abroad (remittances, credits) 204,941,784
Total cash sale 47,750,000 Total total sales 252,691,784
Note that: The selling price of the amounts transferred to bank accounts abroad is ( 1460 ) dinars per dollar. The cash sale price is ( 1460 ) dinars for each dollar.
» The Central Bank of Iraq’s foreign currency sales schedule, Tuesday 06/21/2022
https://cbi.iq/currency_auction
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