Iraqi News Thursday AM 5-27-21
Iraqi News Thursday AM 5-27-21
TLM724 Administrator BondLady’s Corner
Parliamentary Finance / NINA /: The Government Will Challenge The General Budget Law Next Week
Thursday 27, May 2021 11:54 | Economical Views: 225 Baghdad / NINA / The Parliamentary Finance Committee has suggested that the government will proceed to submit the list of appeals against the General Budget Law 2021 to the Federal Court within the next week.
Committee member, Naji Al-Saeedi, said in a statement to the Iraqi National News Agency / NINA /, that "the government is in the process of challenging some of the provisions of the general budget, and sees the amendments that were added in the House of Representatives affecting the health and electricity sectors," indicating: "The Cabinet will unify The ministries ’notes are drafted in a unified draft to present to the Federal Court an official list of appeals on some of the budget’s items.
He added that "there are more than 10 articles in the General Budget Law that the government will challenge in front of the Federal Court, including the article requiring ministries to transfer some formations and join them to the Federal Service Council, as well as the article related to regional development projects," indicating that "the House of Representatives has made amendments to the Budget Law." The public, and the government has the right to appeal the amendments and additions introduced by the House of Representatives in accordance with the law.
The Council of Ministers decided, in its session held on April 20, to authorize its president to appeal before the Federal Court a number of articles of the Federal Budget Law for the fiscal year 2021./ End 5
https://ninanews.com/Website/News/Details?Key=906567
US National Security Announces Its Support For Kazemi
The US National Security Council announced today, Thursday, its support for the Iraqi government's measures to impose the rule of law and prepare for early elections.
"We strongly support the commitment of Prime Minister Al-Kazemi and the Iraqi government to support the rule of law in preparation for free and fair elections," the chancellor said in a post on Twitter.
And stressed the need to investigate any person who targets Iraqi citizens in accordance with Iraqi laws in debt who seek to undermine the stability of Iraq by acts of violence.
On Wednesday, the government imposed tight security measures, including intensive military deployment in the central regions of the capital, to impose the law and not allow any armed party to take to the streets, against the backdrop of the arrest of a leader of the Popular Mobilization Forces due to the existence of an arrest warrant issued against him by the judicial authorities. https://www.radionawa.com/all-detail.aspx?jimare=24804
Oil Is Considering Strengthening Cooperation With Total Clean Energy Investment Company
Energy Economy News _ Baghdad Oil Minister Ihsan Abdul-Jabbar Ismail discussed with Director of Total Middle East and North Africa Laurenta Fever, ways to enhance cooperation.
In a statement received by Al-Eqtisad News, the Minister of Oil affirmed the ministry’s keenness to expand cooperation and strengthen relations with sober international companies, including Total, in a way that serves common interests.
"We hope to accelerate the implementation of development and investment plans for associated gas and free gas investment projects, clean energy, and the advancement of infrastructure through modern technology," Ismail said.
He added that the meeting with "Total" comes to follow up the procedures for implementing the axes of the memorandum of understanding signed between the ministry and the company.
For his part, the Director of Total in the Middle East and North Africa affirmed that the company is keen to cooperate with the Ministry's companies to implement a number of important investment projects in the gas and clean energy sector. Number of observations 169 Date added 05/27/2021 https://economy-news.net/content.php?id=25190
The High Exchange Rates Of The Dollar In The Local Markets
Market Economy News _ Baghdad The exchange rate of the dollar rose today, Thursday, to its highest levels in the main stock exchange in Baghdad and banking shops.
The Al-Kifah and Al-Harithiya Stock Exchange in Baghdad recorded 149,500 Iraqi dinars against 100 US dollars, after it recorded 149150 dinars during its opening yesterday morning.
While the selling prices increased in the exchange shops in the local markets in Baghdad, reaching 150,000 Iraqi dinars, while the purchase prices reached 149,000 dinars per 100 US dollars.
Number of observations 143 Date of addition 05/27/2021 https://economy-news.net/content.php?id=25196
In Numbers ... Weekly Trading Indicators For The Iraq Stock Exchange
Economie| 01:58 - 05/27/2021 Baghdad - Mawazine News The Iraq Stock Exchange organized five trading sessions during the fourth week of May 2021, from Sunday 05/23/2021 to Thursday, 05/27/2021.
As the indicators below were achieved this week:
1. The number of shares traded this week reached more than 90 billion shares.
2. The value of shares traded this week amounted to more than (77) billion dinars.
3. The index of trading in the market closed for the first session of the week at (587.72) points, while the index closed at the end of the week at (579.27) points, achieving a decrease of (1.46%) from its close at the beginning of the session.
4. During the week, more than (2,600) sale and purchase contracts were executed on the shares of companies listed on the market. The period ended 29 / A43. https://www.mawazin.net/Details.aspx?jimare=154711
Today .. Central Bank Sales Of Hard Currency Exceed $ 150 Million
Economie| 01:44 - 5/27/2021 BAGHDAD - Mawazine News The Iraqi Central Bank's hard currency sales, on Thursday, recorded a remarkable increase, exceeding $ 150 million.
The Central Bank of Iraq sales of hard currency during its auction for the sale and purchase of foreign currencies increased by 2.89%, to reach 152 million 899 thousand and 152 dollars, covered by the bank at a base exchange rate of 1460 dinars per dollar, compared to yesterday, Wednesday, when sales reached 148 million And 600 thousand dollars.
The purchases amounting to 149 million and 49 thousand 152 dollars went to strengthen the funds abroad in the form of transfers and appropriations, while the remaining amount of 3 million and 850 thousand dollars went in cash.
And 28 banks responded to requests to boost funds abroad, one bank to fulfill cash requests, and a participating exchange company. Ended 29 / p4 https://www.mawazin.net/Details.aspx?jimare=154709
Oil Minister: Iraq Aims To Increase Its Capabilities Of Crude Gas And Light Oil
Time: 05/27/2021 16:55:39 Read: 728 times Up to the production of 800 thousand barrels per day in the West Qurna field / 2 The Minister of Oil announces the start of the trial operation of the Yamamah reservoir in the West Qurna field / 2 in Basra Governorate with a capacity of (10) thousand barrels per day, up to (350) thousand barrels per day.
said during his attendance at the trial operation of the Yamama oil reservoir in West Qurna / 2 field in Basra Governorate that today we are facing a major qualitative event, which aims to produce from the Yamamah oil reservoir for the first time and to reach the production capacity to (350) thousand barrels per day.
Despite the economic and health challenges created by the circumstances of the spread of Covid 19, this increase from the Yamamah reservoir is added to the production quantities from the honorable reservoir, which is estimated at (450) thousand barrels, bringing the total production of West Qurna field / 2 to (800) thousand barrels per day.
The Minister of Oil indicated that Iraq aims to increase its capabilities of crude gas and light oil, which is a vital goal in the service of the national economy, and that what has been achieved today represents a technical, financial, environmental and health challenge that we were able to overcome.
Ismail praised the relations with LUKOIL, and its promise of long-term distinguished partnerships.
For his part, the Commissioner Director of LUKOIL MED-EAST Ltd., Yegor Zobarv, said that he is happy with the experimental operation of the Yamamah reservoir and several important development projects in the West Qurna field / 2, and that it represents the second stage of the development process that aims to reach total capacity from the West Qurna field 2 / amounting to (800) thousand barrels per day, praising the great cooperation with the Iraqi national effort to achieve common goals. As praised
Undersecretary for extraction affairs, Karim Hattab, with the joint efforts between Basra Oil and Lukoil, which resulted in raising the field’s production capacity, especially from an honorable reservoir to 400,000 barrels per day, after it did not exceed 130,000 barrels per day in 2014,
and that the Ministry’s goal is to achieve sustainability and stability of production from the field.
As for the Director General of the Basra Oil Company, Khaled Hamzah, the West Qurna-2 field, in southern Iraq, is one of the largest oil fields in the world, with recoverable initial reserves of about 12.9 barrels of oil equivalent.
The area of the contractual area is about 300 square kilometers. In 2010, Lukoil signed the service and development contract for the field. In the year 2014, commercial production of oil began, and then the first phase of the field's development was successfully implemented. Hamzah added that the production of the West Qurna field represents a good percentage of the total oil production in Iraq.
Meanwhile, the ministry’s spokesman, Asim Jihad, considered increasing production from the Yamamah reservoir, an important step to boost national production of good light oils that achieve higher financial revenues than other oils.
And that the production from the Yamamah reservoir is the first production process from deep and complex wells. This step is due to the joint effort between the Basra Oil Company and the Oak Oil Company. LINK
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