Zig’s Place Chatroom News Monday AM 1-3-22

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Butterfly  The Democratic Republic of the Congo takes over the rotating presidency of OPEC and a ministerial meeting of "OPEC +" next Tuesday

Sunday 02 January 2022 The Democratic Republic of the Congo on Saturday assumed the rotating presidency of the Organization of Petroleum Exporting Countries (OPEC) for the first time since its official accession to the organization's membership in 2018, headed by Congolese Minister of Oil Bruno Jean-Richard Itwa. 

A statement by the Organization of the Petroleum Exporting Countries stated on Saturday that the energy ministers of the producers' alliance (OPEC +) will hold their monthly meeting next Tuesday to review and review market developments, supply and demand interactions, and oil stocks, and determine the position on approving the monthly increase in production, which amounts to 400 thousand barrels per day for the month of next February. Only Kuwait's candidate, Haitham Al-Ghais, the former governor of Kuwait in OPEC, has been confirmed so far. / End 2

It is noteworthy that the Congo will supervise the elections of the new Secretary-General of the Organization next July to choose a successor to the current Nigerian Secretary-General, Muhammad Barkindo, who spent 6 years in the position, as many member states are still considering submitting their candidates for the position.

https://ninanews.com/Website/News/Details?key=948192

butterfly   Al-Moussawi: The Shiite House Will Unite Before The Parliament Session

Politician  Last Update 01/03/2022 | 4:39 PM  A member of the Al-Fateh Alliance, Madiha Al-Moussawi, confirmed, on Monday, that the political leaders within the coordination framework are working to settle the outstanding issues with the Sadrist bloc through intensive meetings between the two parties.

Al-Moussawi said in a statement to "The Information", "We are waiting for the outcomes of the third meeting between the two parties to resolve some important issues," noting that "the building of the Shiite house will be united before the first parliament session."

She added that "the meeting will be in Najaf, and attendance will be limited to representatives of blocs and political parties," explaining that "the outcomes of the second meeting were positive and the third will resolve matters."

She pointed to "the necessity of reconfiguring the Shiite house again to get out of the crisis and the political blockage that stands in the way of the next government."

A member of the House of Representatives from the Al-Fateh Alliance, Ahmed Al-Moussawi, had confirmed, earlier, that the coordination framework would go towards the largest bloc to form the government if the Sadrist movement insisted on forming a majority government.https://almaalomah.me/2022/01/03/574497/

butterfly   2022-01-03 04:41  Shafaq News / A reliable political source revealed to Shafaq News agency that a delegation from the Sadrist movement, and another consisting of Sunni parties, will visit Erbil to meet the Kurdish leader Masoud Barzani.

The head of al-Takaddom bloc, Mohammad al-Halboosi, will convene with the leader of the Sadrist movement, Muqtada al-Sadr, soon, a source revealed on Saturday.

The source told Shafaq News Agency that the Coordination Framework will also meet with the head of al-Azm bloc, Khamis al-Khanjar, to settle "allegiances".

Both meetings will be held in the next two days to most, the source added. 

Earlier, a source close to al-Hannana, the Sadrists' headquarters, revealed to Shafaq News agency that the movement has achieved, until now, 80 Parliamentary seats.

In addition, PUK member, Jamal Kocher, revealed that the Kurdistan Democratic Party and Patriotic Union of Kurdistan will meet today to nominate a candidate for the Iraqi Presidency. https://www.shafaq.com/en/Iraq-News/Sadrist-and-Sunni-delegations-to-meet-Kurdish-leader-Masoud-Barzani

butterfly   PM al-Kadhimi issues his financial disclosure report for 2022 2022-01-03 03:02

Shafaq News / The Iraqi Integrity Commission revealed today that Prime Minister Mustafa al-Kadhimi and his manager, Raed Johi, released their financial disclosure.

The Commission said in a statement that it had received financial disclosure reports from al-Kadhimi, who is the first to take this step in 2022.

It noted that it had also received al-Kadhimi's manager's financial disclosure report.

Back in 2019, the Commission revealed the first amendment to Law No. 30 of 2011 after approving it, which stipulates that Prime Minister, deputy prime ministers, ministers and those of their rank, as well as state employees, must submit financial disclosure reports every year. https://www.shafaq.com/en/Iraq-News/PM-al-Kadhimi-issues-his-financial-disclosure-report-for-2022

butterfly   Reuters: OPEC to stick to February output boost 2022-01-03 06:53

Shafaq News/ OPEC+ is expected to stick to its plans for a February output increase when it meets on Tuesday, predicting a mild and short-lived impact on demand from the Omicron coronavirus variant, three sources from the group of oil producers told Reuters on Monday.

OPEC+, a grouping of the Organization of the Petroleum Exporting Countries (OPEC) and allies led by Russia, has been gradually unwinding record oil production cuts agreed in 2020 to counter the demand destruction from the pandemic.

Current plans would see it raise its February production target by 400,000 barrels per day (bpd) as it has done each month since mid-2021.

In a technical report seen by Reuters on Sunday, the group downplayed the impact on the oil market from the Omicron variant.

"The impact of ... Omicron ... is expected to be mild and short-lived, as the world becomes better equipped to manage COVID-19 and its related challenges," the Joint Technical Committee (JTC) report said.

"This is in addition to a steady economic outlook in both the advanced and emerging economies," it added.

While the group has been raising its targets, its production increases have not kept pace as some members struggle with capacity constraints.

OPEC+ oil producers missed their production targets by 650,000 bpd in November and 730,000 bpd in October, the International Energy Agency (IEA) said last month.

OPEC will hold a meeting on Monday at 1300 GMT to discuss the appointment of a new secretary general to succeed Nigeria's Mohammad Barkindo. 

Haitham al-Ghais, a former Kuwaiti governor to OPEC, is expected to get the job as he enjoys wide support from member countries, sources told Reuters last week. loop

butterfly   The JTC is also meeting on Monday to discuss market fundamentals.

In the JTC report's base scenario, OECD commercial oil stocks in 2022 will remain below the 2015-2019 average in the first three quarters before rising above that average by 24 million barrels in the fourth quarter.(Reuters)

butterfly   2022-01-03 03:38   Shafaq News / The Ministry of planning said today it is unlikely to include new projects in the 2022 budget law.

The Ministry's spokesman, Abdulzahra al-Hindawi, told Shafaq News agency that including new projects in the 2022 budget will not be easy, especially since many projects are currently being implemented.

He noted that the authorities will focus on finishing the already inaugurated projects.

Al-Hindawi added that the oil prices' recovery and receiving enough revenues will positively impact the government's investments, pointing that no less than 6,000 projects are being implemented throughout Iraq.

Back in 2020, the Ministry of Planning suspended the implementation of the 2021 budget projects, against the backdrop of the oil prices' sharp decline. https://www.shafaq.com/en/Economy/It-is-unlikely-to-include-new-projects-in-the-2022-budget-Ministry-spokesman-says

butterfly   2022-01-03 01:55  Shafaq News/ The U.S. dollar (USD) exchange rates against the Iraqi dinar (IQD) stabilized in Baghdad and Erbil today.

Shafaq News Agency correspondent said that the Central al-Kifah and Al-Harithiya exchanges are trading the USD at a rate of 147900 IQD to 100.

Our correspondent said that the buying and selling rates of 100 USD in the local markets of the Iraqi capital stood at 148500 and 147500 IQD, respectively.

In the capital of the Kurdistan Region, the USD exchange dropped; the buying and selling rates of 147900 and 147700 IQD for every 100 USD, respectively. https://www.shafaq.com/en/Economy/USD-IQD-exchange-rates-stabilize-in-Baghdad-and-Erbil

butterfly   2022-01-03 03:14  Shafaq News/ The Central Bank of Iraq (CBI) auctioned more than $4 billion in foreign currency in December.

Shafaq News Agency correspondent said that the CBI sales of foreign currency in November's auctions amounted to $4,114,079. The weighted average of CBI daily sales stood at $195,909,396, up from November's $167,397,128.

The transactions were made at a weighted average of 1460 dinars to every dollar.

Our correspondent explained that the majority of those funds went to boost assets abroad in the form of credit and non-cash transactions, while a small percentage was dedicated for cash transactions. https://www.shafaq.com/en/Economy/CBI-sold-4-billion-in-December-currency-auctions

 butterfly   A Legal Expert Clarifies About The First Parliament Session And The Possibility Of Postponing It

01/03/2022 | 9:10 AM  Information/ Baghdad…  The legal expert, Dr. Ali Al-Tamimi, explained, regarding the first parliament session, scheduled to be held on the ninth of this month, and the extent to which it can be postponed.

Al-Tamimi told Al-Maalouma, “The first parliament session set by the President of the Republic is scheduled to be held under the chairmanship of the eldest member, as the 329 members take the constitutional oath in accordance with Article 50 of the Constitution before the President of the Supreme Judicial Council, in which the Speaker and his deputy are elected. By direct secret ballot and an absolute majority, that is, half of the total number plus one, and the session cannot remain open according to the Federal Court’s decision 55 of 2010, but what has been mentioned must be resolved.”

He added that “the Speaker and his deputy, after being elected by direct secret ballot, the new president takes the podium and calls for nomination for the position of President of the Republic, provided that he is elected within 30 days of the first session by a two-thirds majority in the first round and a majority of votes in the second round in accordance with Articles 70 and 72 of the Constitution. “.

And he indicated that “the first session can be postponed by the president of the age, when necessary, for days, and not keep it open according to Article 22 of the Parliament’s internal system.” almaalomah.me

butterfly   Rights: We Intend To Make Changes To The Commission And The Election Law

01/03/2022 | 9:11 AM   A member of the rights movement Asifa al-Dalawi confirmed, on Monday, that the coming period will witness changes to the commission and the election law after the chaos that occurred during the voting process, and the ensuing tensions in the Iraqi street.

Al-Dalawi said in a statement to “Al-Maalouma”, that “the Electoral Commission will not remain in its current position, especially after the fraud in the election results, as we will demand that it be changed in the next stage.”

She added, “The chaos that occurred during the electoral process and the tensions that the street witnessed, was due to the Electoral Commission.”

Al-Dalawi indicated, “The election law was set in a period of time that witnessed great chaos, and whoever proposed it has allocated it to himself in order to win the elections again, and therefore the coming days will witness a change in the Commission and the election law.”   almaalomah.me

butterfly   A Fatah Member Is Likely To Repeat The 2018 Scenario In Forming The Next Government

01/03/2022 | 11:15 AM   On Monday, a member of the Al-Fateh Alliance, Muhammad Al-Baldawi, suggested that the next government would be formed by the agreement of the Shiite forces, as happened in 2018, stressing that the picture of rapprochement between the coordination framework and the Sadrist movement has become clear.

Al-Baldawi said in a statement to / the information /, that “the image of rapprochement between the coordination framework and the Sadrist movement became clear through Mr. in the government of Adel Abdul-Mahdi.

He added that “the forces of the framework and competition will certainly lay the foundations and constants that will be dealt with in the government’s program and then go to other political blocs.”

Al-Baldawi pointed out that “the difficulty that the next government faces is naming the President of the Republic, because this position requires two-thirds of the votes, and this requires an understanding between all forces.”   almaalomah.me

butterfly   Source: Al-Azm will blow up all his agreements with Al-Halbousi, and Al-Obeidi will nominate Al-Obeidi for the presidency of Parliament

2022-01-03  An informed political source revealed, on Monday, the continuation of political differences between a coalition headed by Muhammad al-Halbousi and al-Azm headed by Khamis al-Khanjar, indicating that al-Khanjar will present Khaled al-Obaidi as a competitor to al-Halbousi for the presidency of the House of Representatives.

The source said, “Discussions within Al-Azm Alliance ended by not supporting Al-Halbousi for the presidency of the House of Representatives to avoid a split in Al-Azm, while Khaled Al-Obeidi will be named as a candidate for Parliament as a competitor during the first session.”

He added, “One of the most important reasons for the dispute between Taqaddam and Al-Azm is international and financial support and the division of positions between the two parties, as well as the threat of more than 10 representatives of Al-Azm to split in the event of the renewal of Al-Halbousi’s mandate.”

The source pointed out that “Turkey, through its ambassador, tried to put Thabet al-Abbasi as a consensual candidate, being a Turkmen from the people of Tal Afar, but the remaining Sunni forces objected to that proposal,” noting that “these trends will lead to the destruction of the initial agreement between al-Halbousi and al-Khanjar.”   burathanews.com

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