Monday AM Iraq Economic News Highlights 8-15-22
Monday AM Iraq Economic News Highlights 8-15-22
Oil Prices Are Witnessing A Slight Decline
Economie 2022-08-15 | 01:31 707 views Alsumaria News - Economy
Oil prices fell for the second session, today, Monday, after the CEO of Saudi Aramco, the largest exporter in the world, said that the company was ready to increase production, at a time when production resumed in many platforms. The US Navy is in the Gulf of Mexico after a brief break last week.
Brent crude futures were down 27 cents, or 0.3 percent, at $97.88 a barrel by 0034 GMT, after a 1.5 percent drop on Friday. US West Texas Intermediate crude reached $91.87 a barrel, down 22 cents, or 0.2 percent, after a 2.4 percent drop in the previous session.
Amin Al-Nasser, CEO of Aramco Saudi Arabia
Reporters on Sunday said the company is ready to increase its crude oil production to its maximum capacity of 12 million barrels per day if the Saudi government requests it.
He added, "We are confident in our ability to increase our production to 12 million at any time the need arises, or at the invitation of the government or the Ministry of Energy to increase our production."
Oil prices rose more than 3 percent last week after damage to a pipeline disrupted production at several offshore platforms in the Gulf of Mexico.
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A port official saidLouisiana, producers moved to reactivate some of the stalled production after repairs were completed late Friday. LINK
Low Oil Prices In World Markets
Economie| 08:38 - 15/08/2022 Follow-up - Mawazine News: Oil prices fell for a second session, Monday, while production resumed on several US offshore platforms in the Gulf of Mexico after a brief interruption last week.
Brent crude futures were down 27 cents, or 0.3%, at $97.88 a barrel, after falling 1.5% on Friday.
US West Texas Intermediate crude reached $91.87 a barrel, down 22 cents, or 0.2%, after a 2.4% drop in the previous session. Ended 29/N33 https://www.mawazin.net/Details.aspx?jimare=202480
The Dollar Recorded A Rise In The Iraqi Market
Economie| 09:30 - 15/08/2022 Baghdad - Mawazine News The dollar exchange rates witnessed, today, Monday, a slight increase in the Iraqi Stock Exchange. Selling price: 148,600 dinars per $100, buying price: 148,500 dinars per $100 https://www.mawazin.net/Details.aspx?jimare=202487
The Financial Control Determines The Percentage Of Completion Of The Job Intersection File For Those Covered By The Appointment
Political | 08:36 - 14/08/2022 Baghdad - Mawazine News The Financial Supervision Bureau has determined, today, Sunday, the percentage of completion of the job intersection file for those covered by the appointment in food security.
The head of the court, Rafel Yassin, said that "the data of 90,000 graduates of high school and first degree holders out of a total of 132,000 were audited, and 42,000 were returned due to a lack of their data."
He added, "The employees of the career intersection department in the Bureau continue on official working days on holidays to complete the job intersection file for all graduates covered by appointments within the Emergency Support Law for Food Security and Development," noting that "the Bureau is waiting for the data of graduates from the rest of the universities and colleges affiliated with the rest of the ministries." .
He continued, "The Diwaniyah Order Committee (35) assigned the Bureau to conduct the job intersection within 30 days, and we were able to complete 90% of the file within only a week." Ended 29 / h
Iraq's Debts Owed By Lebanon Exceed Half A Billion Dollars... And Baghdad Sends A Delegation To Negotiate
Money and business Economy News-Baghdad Lebanon announced today, Monday, the arrival of an Iraqi delegation to Beirut to discuss the mechanism for repaying the fuel exported to it, amounting to 550 million dollars .
The Lebanese government said, "An Iraqi delegation arrived in Beirut on a two-day visit to negotiate with the Lebanese side for the purpose of benefiting from the $550 million deposited in Lebanese banks ."
And she added, "The Iraqi authority expressed its desire to meet with the Lebanese parties, namely Prime Minister Najib Mikati, Energy Minister Walid Fayyad, and Governor of the Banque du Liban Riad Salameh," noting that "the visit will be dedicated to the mechanism of spending the money that Lebanon is supposed to have paid Iraq for the imported fuel under The last contract was to supply Lebanon with about one million tons of electricity production plants .
She indicated that "so far, Iraq has accumulated about 550 million dollars, which is supposed to be paid through services provided by the Lebanese side to the Iraqis," explaining that these services include "the side of government hospitals, the payment of Iraqi airline fees, and the field of education as well ."
The Lebanese government's statement pointed out that "the matter also applies to the amounts that come from renewing the contract with an additional one million tons of fuel over the next 12 months ."
Lebanon and Iraq signed an agreement in July 2021 to import one million tons of fuel fuel to alleviate the country's electricity crisis, and the first ship arrived in Lebanon carrying 31,000 tons of this substance on September 16, 2021 .
And “fuel” is a mixture of oils that remain in the oil refining unit after distillation (heavy fuel) and burn in a furnace or boiler to generate heat or to generate electrical or kinetic energy .
Iraq and Lebanon agreed on an energy exchange, under which Iraq would give Lebanon, which is going through the worst economic crisis in its history, heavy fuel oil, in exchange for "services and goods" that Iraq would get from Lebanon . Views 81 Added 08/15/2022 - 9:23 AM Update 08/15/2022 - 12:47 PM
https://economy-news.net/content.php?id=29328
Planning Invites Ambassadors Of Donor Countries To Review The Working Mechanisms Of The Reform And Recovery Fund
Reconstruction and building Economy News – Baghdad The Iraqi Minister of Planning, Khaled Battal Al-Najm, called, on Tuesday, the ambassadors of a number of donor countries to reconsider the working mechanisms of the Reform, Recovery and Reconstruction Fund for Iraq.
A statement by the ministry stated that the star "met the ambassadors of the United Kingdom, Mark Bracson Richardson, the Canadian ambassador Gregory Gallivan, the ambassador of the Kingdom of Sweden Jonas Lofven, in addition to the representative of the World Bank mission in Iraq, Ramzi Noman, and the political advisor to the German Embassy, and during the meeting, they discussed and discussed the mechanisms of work. of the Fund for the Reform, Recovery and Reconstruction of Iraq.
The minister valued, according to the statement, "the level of support provided by donor countries to Iraq," expressing "Iraq's desire to continue joint cooperation for the service of development and reconstruction and facing the difficult circumstances and challenges resulting from the global food crisis."
Al-Najm called for "reconsidering the mechanisms of work for projects funded by the Reform and Recovery Fund, and in line with the development and economic reality in Iraq," stressing "the importance of follow-up to projects, and effective coordination between donor countries, ministries and Iraqi authorities, through the Ministry of Planning, which handles the process Follow-up and coordination, as well as its task in approving projects, and including them within the budget schedules, according to the development gaps in the governorates.
For their part, the ambassadors of the donor countries and the World Bank expressed their "appreciation for the level of cooperation provided by the Ministry of Planning, and its tireless quest to find solutions and remedies for any problem facing the work of the Reform, Recovery and Reconstruction Fund," stressing "their countries' readiness to provide more support to Iraq."
301 views Added 06/07/2022 - 6:00 PM Update 08/14/2022 - 9:14 AM
https://economy-news.net/content.php?id=28361
"Economy News" reveals the developments of the Greek tanker loaded with Iraqi oil hijacked by Iran
ship location
Energy Economy News – Baghdad An informed source confirmed that the Greek oil tanker " DELTA POSEIDON ", loaded with Iraqi oil hijacked by Iran, docked on the island of Lark in the Strait of Hormuz controlled by Iran.
The source told "Al-Iqtisad News", "The Greek oil tanker loaded with Iraqi oil left Basra on May 26, but it was lost one day later, as a result of it being kidnapped by Iran in response to Greece's seizure of an Iranian oil tanker."
He added that "the Greek tanker, loaded with one million barrels of Iraqi oil, docked on the island of Lark in the Strait of Hormuz and is still under the control of Iran."
During the month of May, Greece bought nearly 2 million barrels from Iraq, and Greece also buys oil from Kurdistan, as it is considered the second largest buyer of Kurdish oil.
You can view the ship's website through the following map:
6168 . views Added 06/03/2022 - 3:25 PM Update 08/15/2022 - 10:17 AM
https://economy-news.net/content.php?id=28298
Finance Committee: The Year 2023 Will Proceed According To The 12/1 Exchange Rule If The Current Situation Continues
Money and business Economy News-Baghdad The Parliamentary Finance Committee clarified that it is premature to speculate that there will be no budget for the next year, but if the current political impasse continues and the situation remains as it is, the year 2023 will proceed according to the 12/1 disbursement rule for the last approved budget .
A member of the Finance Committee, Jamal Kougar, said in a statement, “In the event that a new government is not formed and a new budget is not passed, we will proceed according to the 12/1 disbursement rule for the last budget, which was in 2021, and we will proceed with the operational aspect in it, and there is no text that prevents proceeding with the implementation of it.” this principle ."
Cougar stressed that "the salaries in all cases will remain continuous, whether there is a budget or not, because it is operational and not linked to approving the budget ."
Cougar indicated that "it is premature to say that there will be no budget for the next year, because we have not entered the tenth month, in which the government is supposed to send the budget of 2023, and we have not yet reached this time," noting that "the circumstance is difficult, but it may be There is a breakthrough soon, as the Iraqi situation is subject to change at any time ."
Regarding those who were recently appointed according to the Food Security Law, he explained that “these matters remain pending, as the amount of one trillion dinars has been allocated for their salaries according to the Food Security Law, and when it runs out, they need to legislate another financial law similar to the Food Security Law that provides them with financial cover or the adoption of the budget law. next ".
Kuger continued that "in case the budget is approved, they will be added to Schedule C of the centrally funded workforce schedule, and their amounts will be included in the general budget law ."
Views 101 Added 08/15/2022 - 9:25 AM Update 08/15/2022 - 12:48 PM LINK
The Integrity Commission Announces The Imminent Recovery Of Two Billion Dollars Smuggled From Abroad
Money and business Economy News-Baghdad Today, Monday, the Federal Integrity Commission announced the imminent recovery of two billion dollars, while confirming that some countries deliberately not cooperate to recover Iraqi funds .
The head of the Integrity Commission, Alaa Al-Saadi, said in a statement to the Iraqi News Agency that "there is a law to recover Iraq's money issued in 2012 and until the year 2019 was administered by the Ministry of Finance, after which the Integrity Commission took over its administration," noting that "during this period, we gained the confidence of the citizen to report on Iraqi money abroad by giving privileges to the informant .
He added, "Most of the collaborators are the heirs of those who trespass on public money as a result of the privileges granted by the state and their inability to complete the official papers," noting that "one of the collaborators, who is one of the servants of the former regime, revealed details of money totaling two billion dollars that will be recovered, as well as telling details about A lot of money, whether inside or outside the country .”
He explained, "Part of the countries deliberately refrain from not cooperating to recover Iraq's money, and we need the higher authorities to conclude agreements to hand over the convicts and Iraqi money ."
Al-Saadi called "the higher authorities authorized to negotiate and contract with countries in order to recover funds abroad because most countries are not cooperating with Iraq to return its money ." 47 . views Added 08/15/2022 - 11:31 AM Update 08/15/2022 - 12:48 PM