“Tidbits From TNT” Wednesday Morning 1-22-2025

TNT:

Tishwash:  Iraq's economy on the verge of collapse.. Expert warns of the consequences of not passing the amendment to Article 12

Oil expert Kovind Shirwani commented on Tuesday (January 21, 2025) on amending Paragraph 12 related to the export of Kurdistan Region oil.

Sherwani told Baghdad Today, "The amendment was submitted by the Federal Government Presidency in consultation with the Ministry of Oil, and it addresses a major dispute over calculating the region's oil production fees."

He added, "Because of the dispute, the region's oil exports were halted for 22 months, and the losses to the Iraqi economy due to the halt of 400,000 barrels of oil per day reached 18 billion dollars."

He pointed out that "not obstructing the amendment of Article 12 will harm all of Iraq and the country's economy, which loses between 800 and 900 million dollars per month due to the halt in exports. Passing this amendment will support the budget with these funds, and thus the first beneficiary of passing the amendment is the Iraqi economy, and not passing it is the Iraqi economy. It is unfortunate that this amendment is portrayed as serving the region only, and this is a great fallacy."

The Finance Committee of the House of Representatives announced on Sunday (January 19, 2025) the imminent vote on amending Article 12 of the budget related to the Kurdistan Region’s oil, while pointing to the most prominent proposals submitted to amend this paragraph.

The head of the committee, Atwan Al-Atwani, said in a speech during a committee meeting, according to a statement received by "Baghdad Today", that "the committee's meetings are continuing to discuss amending Article 12 of the budget law related to the Kurdistan Region's oil," indicating that "the committee has reached the final stages of completing the hosting and providing a lot of information in preparation for voting on the amendment today."

He added, "It is necessary for there to be a decision from the committee to submit the draft law to a vote," expressing his hope that "an agreement will be reached to vote on this draft law, which complements the 2023 budget."

He pointed out that "a number of committee members have raised many paragraphs and submitted proposals, and we will raise them so that everyone is aware of them, but they cannot be added considering that the project is an amendment and not budget tables," indicating that "the committee's opinion from the beginning is to proceed with amending the law, but we do not want the clauses and amendments to be like their predecessors, unproductive amendments."

Al-Atwani explained that “the committee added to the amendment paragraphs the obligation of the parties, whether the Ministry of Finance or the Ministry of Oil Resources, to abide by the outputs of the consulting company,” stressing that “there must be an obligation for both parties.”

Al-Atwani concluded by saying: “The consulting company must have a working period that may end in 2025, and it has not achieved results,” stressing that “we are keen to implement the results during this year to be a basis for 2026 link

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Tishwash:  Al-Sudani: Iraq is a pivotal partner and national decision-making sovereignty is a priority

Prime Minister Mohammed Shia al-Sudani stressed that Iraq has a special status in dealing with the will to survive, stressing that "the Iraqi people are among the most proud and self-confident personalities, and cannot be subject to anyone, whoever they may be.

The Prime Minister said, in an interview with Elaph website: Washington is a major partner of Iraq, and the government is working to build a stable institutional relationship with it, noting that the government is determined to build a new Iraq based on its cultural heritage.

Al-Sudani pointed out that portraying Iraq as subordinate to any country contradicts the historical character of the country," stressing that "the relationship between Iraq and the United Kingdom enjoys a unique special status."

He added that "Baghdad is working to build a stable institutional relationship with Washington, as the United States remains a major partner of Iraq, and we are committed to a policy of openness and true partnership," indicating: "Today we are facing a new stage in our relationship with the United Kingdom, and Iraq plays a pivotal role as an effective mediator between various regional parties, and Baghdad has become a center for calm dialogue that aims to bridge the gap between the parties."

He explained that "Riyadh is a partner “It is essential to Iraq’s economic equation, and that the electrical connection with Saudi Arabia is not just a technical project, but a step towards achieving long-term economic integration,” stressing that “the country is moving confidently towards institutional reform.”

He pointed out that “the government is working to integrate the armed factions within the legal and institutional frameworks, and is determined to build a new Iraq based on its Arab cultural heritage.” link

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Tishwash:  The President of the Republic discusses ways to enhance relations between Iraq and Honeywell Energy Company

President of the Republic Abdul Latif Jamal Rashid discussed ways to enhance relations between Iraq and Honeywell Company in the oil and energy industries.

The presidency said in a statement, "President of the Republic Abdul Latif Jamal Rashid received today at his residence in Davos, CEO of Honeywell Energy and Sustainability Solutions Ken West.

The statement added, "During the meeting, ways to enhance relations between Iraq and Honeywell Company in the oil and energy industries were discussed.

The President of the Republic referred to the current stability in Iraq at all levels and the investment opportunities available in various sectors. The

President stressed Iraq's desire to develop the management of oil and gas wealth in Iraq and control the burning of associated gas due to its impact on air quality, explaining Iraq's readiness to activate communication mechanisms and provide the necessary facilities for the work of Honeywell Company and exchange experiences with it in a way that helps raise the level of the energy sector in the country.

For his part, West stressed Honeywell's desire to develop relations with Iraq at all levels, especially investment in the field of oil industries and the development of wells, in a way that enhances the positive partnership link

Mot: ...... Ain't Gunna Lie

Mot: .. Ssiiiigggghhhhhhh!!!!