Zig’s Place Chatroom News Saturday 7-3-21

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Butterfly   Basra crude rose to $76 a barrel

Saturday 03 July 2021 11:11.........The price of Basra light and heavy oil rose on Saturday, in conjunction with the rise in international oil prices, and the prices of the OPEC basket before its closure.

The prices of Basra Light crude, exported to Asia, recorded $75.68 per barrel, an increase of 0.13%, and heavy crude rose to $71.19 per barrel, an increase of 1.12%.

Basra Light oil recorded the highest prices compared to other OPEC countries, where the price of Saudi light oil reached $74.83 a barrel, while the price of Iran Heavy Blend reached $69.70, the United Arab Emirates Murban Blend reached $73.78 a barrel, and Algeria’s Sahran Blend recorded $74.12 a barrel, while Bonny Light Nigerian $74.16, Angolan Girasole $74.45.

International oil prices rose, with Brent crude closing at $76.17, and West Texas crude at $75.16 a barrel.

butterfly   Head of the Parliamentary Finance Committee: The increase in oil prices did not address the budget deficit

Saturday 03 July 2021 13:34,,,,,,,,,,,Head of the Parliamentary Finance Committee, Haitham Al-Jubouri, confirmed that the increase in oil prices did not address the budget deficit.

Al-Jubouri said, in a statement to the official agency, that "so far, according to the new oil prices, the financial deficit in the budget has not been filled, despite the fact that oil reached $75, but Iraqi oil is lower than international prices, with the exception of Basra Light oil, in addition to the cost of oil production."

Al-Jubouri added, “A barrel of oil after extracting it is purified from its price of 60 dollars after hitting it with a production of 2 million and 880 thousand barrels that was struck in 365 days and hitting the exchange rate, we find that it did not fill the deficit in the budget,”

noting that “the budget is 130 trillion dinars and on prices At the present time, we still have a real deficit in investment and operational expenditures of 30 trillion," he said, explaining: "We are surprised by the talk of some about the existence of financial abundance."

And the head of the committee added, "The abundance that is achieved goes to filling the financial deficit in the budget, and therefore we still need to return the million barrels that were deducted from the quantities that Iraq is supposed to produce according to the OPEC agreement so that we can completely fill the real deficit to spend the budget, but in the situation The current deficit still exists.”

butterfly   The Egyptian Minister of Trade is heading to Baghdad on an official visit

Saturday 03 July 2021 15:41......The Egyptian Minister of Trade and Industry, Nevin Jameh, headed to the Iraqi capital, Baghdad, at the head of a delegation comprising government officials and businessmen.

According to the statement of the Egyptian Ministry of Trade and Industry, "The aim of the visit is to enhance joint economic cooperation between Iraq and Egypt, especially in the commercial and agricultural sectors, which represents a solid basis for strengthening joint strategic relations between the two countries, as well as at the regional level, and to follow up and implement what was agreed upon during the presidential summit." .

This is the first visit of an Egyptian government official after the visit of Egyptian President Abdel Fattah El-Sisi to Iraq last week

Butterfly   Washington offers a reward of up to 4 million dollars for information on a wanted person in the Arab region

Saturday 03 July 2021 10:39..............The US State Department has offered a huge financial reward, amounting to 4 million dollars, to anyone who provides information on Ibrahim Ahmed Mahmoud al-Qawsi, a prominent leader in al-Qaeda.

The US State Department said on Twitter, "Ibrahim Ahmed Mahmoud al-Qawsi is a prominent leader in al-Qaeda in the Arabian Peninsula, and a wanted terrorist."

She added that there are "rewards for justice", that "this terrorist left his country, Sudan, to receive orders from the leadership of al-Qaeda in Iran to wreak havoc in Yemen and its people."

She pointed out that al-Qawsi is also known as Sheikh Habib al-Sudani and Muhammad Salah Ahmed, and he appeared in Al-Qaeda videos, encouraging lonely attacks against the United States.

butterfly   2021-07-03 07:45  Shafaq News/ Members of the Organization for Petroleum Exporting Countries (OPEC) will celebrate the 60th anniversary of its establishment in the Iraqi capital, Baghdad, in late September.

In a press statement issued on Saturday, the spokesperson of the Iraqi Ministry of Oil, Asem Jihad, said that the members of the Organization agreed to hold the ceremonials in Baghdad on September 30.

OPEC’s second-top exporter has failed to fund the deficit in its budget despite the rise of oil prices to more than 70 dollars a barrel.

butterfly  2021-07-03 02:56  Shafaq News / The dollar exchange rates dropped today, Saturday (July 3, 2021) in the Iraqi market.

• The Kifah Stock Exchange recorded 147,150 dinars, for $ 100.

• The Al-Harthiya Stock Exchange recorded 147,150 dinars for 100 dollars.

In Baghdad  Selling prices in the banking stores in the local markets

•Sale price: 147,500 dinars for $ 100   • Purchase price: 146,500 dinars for $ 100

butterfly   2021-07-03 03:37   Shafaq News/ Electricity Transmission Company of Northern Iraq announced on Saturday that new explosions targeted five electric transmission towers and two transmission lines in Nineveh and Kirkuk Governorates.

The Company said in a statement "the terrorist groups aim to completely cut off the power system in the northern regions, in a systematic and aggressive plan to harm citizens."

It added, "Yesterday at night, the transmission lines of the Qayyarah - Mosul Dam and the East Mosul - Mosul Dam were attacked with explosive devices."

Hundreds of Iraqis protested in different Governorates over worsening power cuts as temperatures exceeded 50 degrees Celsius in some parts of Iraq.

Power went out completely across most of the country's Governorates, residents said, in some of the worst shortages this year.

Power from Iraq's main grid suffers year-round from hours-long cuts each day, but the shortages worsen during the hot summer months when temperatures regularly reach 50 degrees and households rely on air conditioning.

Iraq's electricity minister resigned this week under pressure over the power crisis.

Reduced power supplies from Iran this month and a series of attacks on power lines by militants have compounded the electricity crisis.

butterfly  A large political bloc is behind the complete shutdown of energy “due to a deal” .. and these are its details

2021-07-03   A large political bloc is behind the complete shutdown of energy due to a deal .. and these are its detailsAn official in the Iraqi Ministry of Electricity revealed the details of the resignation of Electricity Minister Majid Hantoush from his position, and what he described as the repeated “war of fires” during the past days for the country’s energy system.

Most Iraqi cities are witnessing programmed interruptions of electrical power, which reached its peak at dawn on Friday, when the national electricity network was disconnected from service in most regions and cities of the country, including the capital, Baghdad, without knowing the reasons.

The official source, who asked not to be named due to the sensitivity of the information, stated that “the reason for the Minister of Electricity to resign is his failure to secure a large political bloc’s share of a contract (deal) between an Emirati company and his ministry under the auspices of government and political parties.”

And the source indicated that “this coalition started using its own arms inside the Ministry of Electricity and launched a war of frequent outages,” noting that “the power outage is an artificial reason in order to pressure the coalition’s share of the Emirati deal.”

He predicted that “the situation will worsen in the coming period, and the electricity may be subject to a power outage for several days.”

On Tuesday, Hantoush submitted his resignation to Prime Minister Mustafa Al-Kazemi, who has not yet decided on it officially.

Iraq has been suffering from the electricity shortage crisis for decades as a result of successive wars and the instability of the security situation in the country, as well as the spread of corruption   burathanews.com  

butterfly   Expert: Iraq’s oil revenues will reach 70 billion dollars by the end of the year

2021.07.03 – 13:26   Expert - Iraqs oil revenues will reach 70 billion dollars by the end of the yearBaghdad – people

The economist, Manar Al-Obaidi, expected, on Saturday, that Iraq’s oil revenues would reach 70 billion dollars this year.

Al-Obaidi stated in a clarification followed by “Nass” (July 3, 2021), that “the amount of surplus achieved by oil revenues during the first six months of the year amounted to 9.8 trillion dinars, and the size of the surplus is expected to reach more than 26 trillion dinars.”

He added, “The total oil revenues for the first six months of the year amounted to 33.11 billion dollars, knowing that the oil revenues planned in the budget were 26.325 billion dollars.”

He stated, “Despite the significant increase in oil prices, the monthly sales rate did not exceed the 2.9 million barrels per day barrier, although the value of sales planned in the 2021 budget was 3.25 million barrels.”

“It is expected that the total oil revenues until the end of the year will reach 70 billion dollars, which is equivalent to 102 trillion Iraqi dinars,” al-Obaidi said.

He continued, “Despite the rise in non-oil revenues, the specter of the deficit still exists, as the budget planned non-oil revenues of 20 trillion dinars, of which no more than 2 trillion dinars were achieved as a result of the weakness of the procedures followed to maximize non-oil revenues.”

And the economic expert indicated, “In the event that non-oil revenues of more than 10 trillion dinars are not achieved, it is expected that the total revenues by the end of the year will reach 112 trillion dinars. Dinar”. nasnews.com

butterfly   https://www.usatoday.com/story/news/nation/2021/07/03/elsa-downgraded-tropical-storm-florida-path-early-next-week/7851481002/?utm_source=feedblitz&utm_medium=FeedBlitzRss&utm_campaign=usatodaycomnation-topstories ........ Elsa downgraded to tropical storm; Florida in path early next week

butterfly   After the recent cyber attacks, Biden threatens to respond

Saturday 03 July 2021 23:14...........US President Joe Biden threatened on Saturday to respond to the recent cyber attacks.

Biden said in a press statement, reported by US media, that we will respond if Russia is proven to be involved in the recent cyber-attacks called the ransom virus.

He added, "I am not sure that Russia is behind the recent cyber attacks."

butterfly   https://www.thenationalnews.com/mena/iraq/2021/07/01/nato-to-expand-presence-in-iraq-secretary-general-indicates/

Nato to expand presence in Iraq, Secretary General indicates

Stoltenberg tweets alliance will be "stepping up support" in Iraq

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