Zig’s Place Chatroom News Saturday AM 10-16-21

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Butterfly   Basra crude jumps to achieve a gain of 7%

Saturday 16 October 2021 The price of Basra Light crude increased by $1.04 to reach $83.78.

Basra Heavy crude rose 91 cents to reach $78.26, recording a weekly gain of $5.17, equivalent to 7.07%.

Brent crude also rose by 1.02% to reach 84.86 dollars, and achieved profits of 2.47 dollars, equivalent to 3% in a week.

The US West Texas Intermediate crude was settled, with a rise of 1.19%, to reach $82.28 a barrel, to record a weekly profit of 3.69%. https://ninanews.com/Website/News/Details?key=933467

butterfly   The stability of the dollar exchange rates in the local markets

Saturday 16 October 2021 The dollar exchange rates witnessed stability in the local markets, today, Saturday.

And the selling prices of the dollar were recorded at 148,500 dinars per 100 dollars, while the purchase prices were 148,000 dinars per 100 dollars, which are the same prices for Thursday. https://ninanews.com/Website/News/Details?key=933476

butterfly   The Institute of International Finance: Iraq needs a price of 64 dollars per barrel of oil to achieve financial balance

Saturday 16 October 2021 The Institute of International Finance expected that Iraq needs a price of 64 dollars per barrel of oil during the next year to achieve financial balance.

The institute stated in a report that "all oil-producing countries will witness a decrease in the oil price to achieve parity or financial balance in the budgets of the oil-exporting countries, and without a significant deficit," noting that this is due to "the rise in oil and gas production in these countries in exchange for limited government spending cuts." .

According to the report, the break-even price of oil in Iraq - the second largest oil producer in OPEC - will be at $62 a barrel in 2022, down from $63 a barrel this year.

In other oil and gas producing countries, Qatar’s budget will witness a financial break-even point at $44 a barrel next year, down from $52 a barrel in 2021.

Bahrain, which is described as the smallest oil producer in the Gulf - will also witness a financial break-even , at $76 a barrel during 2022, compared to $82 a barrel in 2021. In contrast, the financial breakeven point in the budget of Saudi Arabia - the largest oil exporter in the world - will drop to $67 per barrel in 2022, compared to $75 per barrel in 2021. https://ninanews.com/Website/News/Details?key=933478

butterfly  An oil expert to Nina: The rise in oil prices depends on the decisions of OPEC + .. and it may not last

Saturday 16 October 2021 The expert in the oil field, Hamza Al-Jawahiri, confirmed that the rise in oil prices and its continuation depend on the decisions of OPEC +.

Al-Jawahiri said in a statement to the National Iraqi News Agency / NINA ) that "the rise in oil prices depends on decisions in (OPEC +), which will decide when this rise will stop because the stocks of the major countries are almost depleted and others have already run out," noting: Speculators and traders, no one knows how much they are keeping, after they have disappeared into the shadows and are also waiting for where the prices will reach during this historic upward journey.”

: "There are other variables, such as imposing a state of coexistence with the Corona epidemic and returning to launching the production wheel at its highest speed, but in light of these facts on the ground, clean energy producers and developers have given a wide space of hope to compete in the energy markets, Another factor is the higher policies of the major countries, as they may change after they are unable to pay energy bills. This matter varies from one country to another."

The expert explained: "These factors combined will have the greatest impact on oil prices in the coming days, which will be full of changes and surprises. The major countries do not have many tools if America abandoned the Trump policy / in reference to the policy of the former president. Trump /".

Al-Jawahiri believed: “The price of oil will drop to below eighty dollars, but it will find very great resistance above ninety dollars for economic and political reasons. As for the repercussions of this on the budget, they are large and good, as they may cover the large deficit in it.” https://ninanews.com/Website/News/Details?key=933520

butterfly   Al-Kazemi's advisor to / Nina /: The Commission is committed to announcing the final results at the specified times

Saturday 16 October 2021 Abdul-Hussein Al-Hindawi, Advisor to Prime Minister Mustafa Al-Kazemi for election affairs, confirmed: "The Electoral Commission is committed to announcing the final results at the times specified by law," noting: "The final results will be announced very soon."

Al-Hindawi said in a statement to the National Iraqi News Agency ( NINA ): "The commission is in the final stages of the manual counting and sorting process for some stations and reviewing and verifying the results, for the purpose of announcing the final results."

He explained: "The government and the political blocs are very and strongly supportive of the work of the commission and its procedures, but those who are dissatisfied with its work are some of the losers in the elections," noting that: "there are legal ways to complain and challenge the results, and that the United Nations and international observers are still monitoring the counting and sorting procedures." https://ninanews.com/Website/News/Details?key=933486

butterfly   https://www.shafaq.com/en/Iraq-News/Al-Sadr-crosses-off-al-Maliki-from-the-Government-formation-arithmetics ................ Al-Sadr crosses off al-Maliki from the Government formation arithmetics ............ 2021-10-16 06:04

Shafaq News/ A leader of the Sadrist movement, Issam Hussein, said that the upcoming government will be a "coalition of strong parties", excluding the possibility of the State of Law Coalition, led by Nouri al-Maliki, being on board.

In a statement to Shafaq News Agency, Hussein said, "the forthcoming days will witness forming a coalition government via the alliance of the strong [blocs]... This alliance will include the parties that claimed many and influential seats in the Parliament. Currently, we have concluded agreements with many of those forces."

"All the victorious parties are close to us, except for those whose agenda opposes ours and aim to build authority. For this reason, the State of Law Coalition is outside our considerations," he said, "the parties that endorse the authoritative agenda of the State of Law Coalition is also far from us. We would not ally with them as well."

"This agenda aims to seize power and practice intellectual terrorism. This experience is very bad, and it was the most prominent reason for the emergence of the terrorist organization ISIS in Iraq. Therefore, it is not possible to ally with such parties, and they have such agendas."

Butterfly   The results of the early parliamentary election showed the Sadrist movement maintaining the most seats in parliament, leading in several of Iraq's 18 provinces, including the capital, Baghdad. Al-Sadr, a controversial leader remembered for leading an insurgency against U.S. forces after the 2003 invasion, appeared to have increased his movement's seats in the 329-member parliament from 54 in 2018 to 73.

With 94% of the ballot boxes counted, none of the competing political blocs appeared on track to win a majority in parliament and consequently name a prime minister. But as the results stand, al-Sadr's bloc will be able to take a leading role in the political horse-trading to find a compromise candidate and set the political agenda for the next four years.

The State of Low Coalition, led by the former Prime Minister of Iraq Nouri al-Maliki, secured 37 seats, fours seat behind al-Taqaddom (Progress) bloc led by the Sunni Speaker of the Iraqi Parliament, Muhammad al-Halboosi.

The Kurdistan Democratic Party (KDP) led by the Kurdish leader Masoud Barzani has won 32 seats; twice more than Iran's favorite al-Fatah Alliance, which toll of seats diminished to 14 only from 48 in the 2018 elections.

Doug_W  butterfly GM

butterfly   Doug_W GM. Seems they are still hanging on not knowing what is happening in Iraq.

Doug_W   as usual

butterfly  I remember Al-Sadr was a trouble maker way back when I got involved in this investment AND Maliki seems to be trying to cause problems as he did back then.

butterfly   500 billion dollars stolen under Maliki rule in Iraq: official https://www.dailysabah.com/mideast/2015/10/28/500-billion-dollars-stolen-under-maliki-rule-in-iraq-official................Just some of the article back in 2015..............

The Iraqi Commission of Integrity (CoI) spokesman Adil Nouri has claimed that half of the government's oil income and funds for reconstruction were 'stolen' and 'vanished' from Iraq during the 8-year period of office of former President Nouri Maliki.

Speaking at the Iraqi Parliament, Nouri said that around 500 billion dollars from government coffers has "disappeared" and is perhaps the greatest corruption in history.

Underlining that Iraq's oil income between 2006 and 2014 alone was only $ 822 billion, he said that the Maliki government had also received more than $250 billion in funds from many countries, namely the U.S., used to pay the salaries and pensions of Iraqi government workers and for reconstruction projects.

Within the scope of corruption investigations carried out by the CoI, Nouri stated that former defense minister Hazm Shalan, former trade minister Abdul-Fatah Sudani and former electricity minister Aiham al-Sammarae were involved in graft during their tenures and charged of corruption.

Along with 53 other officials, a prosecution against the Iraqi Red Crescent authorities was also brought and is still continuing.

Adding that some of the investigations have been concluded, Nouri said "600 officials including ministers, deputy ministers, advisors, general directors have been sued on grounds of corruption. There are even officials who have been sentenced to 130 years in jail."

butterfly  Muqtada al-Sadr says he wants to form a government that puts Iraqis first..................this is what all of them say, but here we are still waiting for that to happen. https://www.cnbc.com/2018/05/20/iraqs-al-sadr-promising-reform-is-constrained-by-iran.html

moneypenny   Morning all, newbie here with a stupid question: how does a person register for the Tier 4b? I've combed through 100s of posts, blogs, etc. and am getting conflicting info. If anyone has time to answer, I would greatly appreciate it. Thanks in advance.

Sheila   @moneypenny Tier 4B on this chart found somewhere out there in dinarland:

Dave   moneypenny dont be conflicted.......l    12 years of guru yadda yadda,,,,,,

moneypenny   OK, Guru BS... so no special meetings, higher exchange rates for 4bs, NDAs, phone#, etc?

Doug_W   moneypenny correct

Butterfly   Ambassador Muhammad Jaafar Al-Sadr discusses with the Irish Minister of Trade ways to enhance trade relations between the two countries

Saturday 16 October 2021 20:42 Ambassador Muhammad Jaafar Al-Sadr discussed with Irish Minister of Trade Robert Troy ways to enhance trade relations between the two countries.

A Foreign Ministry statement said today, that Ambassador Muhammad Jaafar al-Sadr met Irish Minister of Trade Robert Troy at the headquarters of the Irish Ministry of Trade, and during the meeting, they discussed ways to enhance trade relations between the two countries and the possibility of increasing trade exchange between Iraq and Ireland, which has increased by 17% since 2017. .

Ambassador touched on the importance of benefiting from the Irish experience in the creation and development of small and medium - sized enterprises and the private sector to strengthen, and the need to continue meetings between the two sides to determine the needs of the two countries of goods and services. "

For his part, the Irish minister confirmed Ireland's endeavor to build economic relations with Iraq, indicating that Ireland focuses on clean and sustainable energy, praising Iraq's role in facilitating regional dialogue to reduce tension and promote calm and stability in the region.   https://ninanews.com/Website/News/Details?key=933598

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