Zig’s Place Chatroom News Thursday AM 12-16-21

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butterfly   CRUDE OIL PRICES (DECEMBER 16) SULAIMANI — Crude oil prices were up on Thursday (December 16) compared to the previous day.

The price of Brent crude was at $74.43, up from $74.07 the previous day, and US WTI crude was at $71.56, up from $70.92. https://nrttv.com/En/detail6/1961

butterfly   Trump's son-in-law shouted at the Israeli ambassador: Go to **." A new book on the secrets of the White House  2021.12.16 - 15:39  A new book on former US President Donald Trump's dealings with the Middle East says that Trump's son-in-law and then-adviser Jared Kushner yelled at Israel's ambassador to Washington, Ron Dermer, and kicked him out of the White House in February 2020.

The British Middle East Eye website, said Wednesday, December 15, 2021, that Kushner was charged with dealing with Middle East affairs in 2017, and his duties included the Palestinian-Israeli conflict and US relations with Arab countries, especially the Gulf states.

Details of the heated debate between Kushner and Dermer were published Sunday, December 12, in Trump's Peace: The Abraham Accords and Remaking the Middle East, a Hebrew book by journalist Barak Ravid based on interviews with senior US officials, including Trump.

In the book, Ravid spoke of deteriorating relations between the Trump administration and former Israeli Prime Minister Benjamin Netanyahu, especially after the latter failed to secure a majority government following the September 2019 elections.

Frustrated at the time, Trump said, "Our relationship is with Israel," and "this was the beginning of Trump's change of heart," Ravid said in an interview with The Forward.

Kushner expelled the ambassador

Weeks before the election, Dermer met Kushner at the White House, and reiterated Netanyahu's doubts about "whether he can trust the Trump administration," Ravid wrote.

Kushner responded angrily, "Don't get it wrong and think that everything that's happened in the past three years has been for you. We did it because we're serious about peace."

Ravid's book stated that Kushner then yelled at Dermer, "It's disgusting for you to say something like that about us. Get out of here," according to The Daily Beast.

butterfly   Dermer had sent a request to meet Trump, but his request was met with hostility. Avi Berkowitz, one of Trump's Middle East officials, reportedly told Dermer, "The president doesn't feel love for you guys right now."

The new book also revealed that Netanyahu tried to withdraw from signing the normalization agreement with the UAE and Bahrain (the Abraham agreements) in September 2020, but the Americans made it clear to them beyond any doubt that "the train has left the station", and that he must accept the fait accompli.

Before that, the Israelis tried to pressure the Trump administration to wait until two other Arab countries joined the UAE and Bahrain, before signing the normalization agreements.

But Kushner told Berkowitz at the time, according to the book, "Tell Ron he's only going to get one state, and if he doesn't, go to **."

Kushner also warned former Prime Minister Netanyahu against annexing the occupied West Bank, which was due to be annexed in the summer of 2020, telling him, "This would be the biggest mistake you could ever make...and Trump will openly stand against you," according to the British Daily Mail.

According to Middle East Eye, Kushner is still talking to and meeting Netanyahu, unlike his father-in-law, who has not spoken to Netanyahu since leaving the White House and criticized him after congratulating Joe Biden on winning the election.

Netanyahu is an old friend of the Kushner family, with reports that Netanyahu spent the night in the basement of the Kushner family's New Jersey home in 2017. https://nasnews.com/view.php?cat=76275

butterfly   The exchange rate of the dollar on the Kifah Stock Exchange and Baghdad exchanges

2021.12.16 - 11:42   "Nass" publishes the dollar exchange rate in the local markets for Thursday, December 16, 2021, according to the monitoring of specialists.

Baghdad - the stock exchange   147,900

The price in most exchanges   Buy 147,500    Sell ​​148,250

The exchange rates for yesterday, Wednesday, were as follows:

Baghdad - the stock exchange  148,075

The price in most exchanges   Buy 147,500    Sell ​​148,500

https://nasnews.com/view.php?cat=76257

16 Dec 21, 08:15 AM butterfly   Economy   U.S. dollar   

2021-12-16 02:57  Shafaq News/ Dollar exchange rates dropped today, December 16, 2021, on the Iraqi market.

• The Kifah Stock Exchange recorded 147,900 dinars for $ 100.

• The Al-Harthiya Stock Exchange recorded 147,900 dinars for 100 dollars.

In Baghdad  The Selling prices at bank stores on local markets:

•Sale price: 148,500 dinars per $100.

• Purchase price: 147,500 dinars per $100.

In Erbil  The Selling prices at bank stores on local markets:

•Sale price: 148,000 dinars per $100.

• Purchase price: 147,750 dinars per $100. https://www.shafaq.com/en/Economy/Dollar-exchange-rates-in-Iraq-1-4-2

butterfly  40% of oil and gas reserves threatened by climate change 2021-12-16 04:15

Shafaq News/ More than 600 billion barrels equivalent of the world’s commercially recoverable oil and gas reserves are facing high or extreme risks from more frequent storms and floods, rising sea levels, and temperature extremes. According to risk intelligence company Verisk Maplecroft’s Climate Change Exposure Indices, Saudi Arabia, Iraq and Nigeria are among the oil and gas producing countries where the risk of climate related events disrupting the flow of oil to global markets is highest. Between them, these three countries account for nearly 19% of commercially recoverable oil and gas.0

Climate-related supply threats to the oil and gas industry have already begun to manifest, says Verisk Maplecroft. This year a freeze in Texas knocked US oil and gas output to a three-year low, while Hurricane Ida caused a record 55 spills in the Gulf of Mexico and created historic disruptions to the supply of both crude oil and refined products. Record heat in Russia accelerated the melting of permafrost, a trend that has damaged 40% of buildings and infrastructure in northern regions heavily reliant on oil and gas production.0

These types of events are going to become more frequent and more extreme, creating even greater shocks within the industry. But Identifying and disclosing these risks inven line with the Task Force on Climate-Related Financial Disclosures (TCFD) recommendations is now a strategic necessity for energy companies if they are to mitigate these threats and offset investor concerns over their transition to a low carbon future.

A global assessment of the oil industry’s exposure to physical climate risk

butterfly   By combining its subnational onshore and offshore Climate Change Exposure Indices with asset-level data from sister company Wood Mackenzie, Verisk Maplecroft has pinpointed the oil and gas assets most exposed to the physical impacts of climate extremes up to mid-century.

The data shows that onshore oil and gas operations are exposed to the full range of the physical impacts of climate change, including sea level rise, storms, heatwaves, flooding, and other extreme weather events. Offshore operations, such as in the Gulf of Mexico, on the other hand, are vulnerable to tropical cyclones and extreme wave heights.

The research found that 10.5% of global commercially recoverable reserves are found in areas rated as extreme risk in the Climate Change Exposure Indices, while 29.5% were high risk. In total, this amounts to around 617 billion barrels equivalent.

The Middle East and North Africa region is not only home to the largest reserves in the world, but it also has the highest proportion of reserves at risk. Saudi Arabia’s long-term economic strategy rests on leveraging its low lifting costs and low upstream carbon intensity, especially as the oil majors come under pressure to reduce output. But uncertainty over the trajectory of oil and gas demand over the coming decades aside, Saudi Arabia’s severe exposure to heat stress, water shortages and dust storms stands out as the Achilles’ heel in this strategy.

Africa has the second highest proportion of reserves under threat, although it accounts for a comparatively small amount of the world’s commercially recoverable reserves. In Nigeria, 72% of reserves – almost entirely blocks in the Niger Delta – are facing high or extreme climate risk exposure.

The country faces rising temperatures and fluctuating rainfall patterns, bringing both droughts and flooding that will not only compromise hydrocarbon production but also restrict agriculture and effectively render the economy even more dependent on those threatened oil and gas  reserves.

Companies with reserves in locations highly exposed to the physical impacts of climate change will face more disruptive events, potentially higher costs for extraction, and the need to invest in mitigating actions. Production may have to be halted and a plant secured to allow for the passage of tropical storms, or coastal infrastructure will need to be raised to account for storm surges and sea level rise.

Risks of accidents and spillages in ecologically sensitive locations could also increase as pipelines are exposed to more extreme weather events that they may not have been designed to withstand.

TCFD alignment makes understanding climate risk exposure an imperative

There is no escaping the fact that the oil industry is highly exposed to the physical impacts of climate change, as well as a tougher regulatory universe. To keep investors onside, energy companies will need to show that the raft of net-zero targets they’ve unveiled are actually supported by corporate policy, by investment and by action.

Aligning strategies with the TCFD recommendations to ensure companies are identifying and reporting both their physical risks from the impacts of climate change and transition risks, related to the shift to a lower-carbon economy, is the first and best step that oil and gas companies should take, advises Verisk Maplecroft.

Understanding the exposure of oil and gas assets to both types of risk under different future climate change scenarios will be central to helping energy companies channel investment into lower risk assets and implement mitigation actions.

butterfly   The costs of inaction could be genuinely existential.

Source: Verisk Maplecroft https://www.shafaq.com/en/Economy/40-of-oil-and-gas-reserves-threatened-by-climate-change

butterfly   Iraq and Iran exchange 61 remains of 1980s war dead 2021-12-15 13:50

Shafaq News/ Iran and Iraq on Wednesday exchanged the remains of a total of 61 soldiers killed in their 1980-88 war.

According to the Iraqi Ministry of Defence, Iraq delivered four unidentified soldiers, while the Iranian side received 57 remains; 22 of them are unknown.

The operation took place at the border crossing point of Shalamcha in southern Iraq under the supervision of the International Committee of the Red Cross.

The bodies came from border areas that witnessed major battles in a war estimated to have killed one million people.

Although the Iran-Iraq war ended 20 years ago, the fate of many soldiers on both sides remains unknown. https://www.shafaq.com/en/Iraq-News/Iraq-and-Iran-exchange-61-remains-of-1980s-war-dead

butterfly   Kurdistan launches app to address violence against women 2021-12-16 04:18

Shafaq News/ The General Directorate to combat violence against women in the Kurdistan Region, in coordination with the United Nations Population Fund, held a ceremony launching an app for women affected by domestic violence and abuse on Thursday.

On the sidelines of the ceremony, the Minister of Interior, Rebar Ahmed, said, "the approach of the Kurdish Government aims to support women to participate in the decision-making process and all fields," adding that "thousands of violence cases have been addressed through the hotline of the Ministry of Interior."

The Minister added that "this project of the United Nations is important because it will expedite procedures to reach the victims very quickly and without complicating the problem."

The "safeyou" application project is the first of its kind in Iraq; it will connect people who experience violence or abuse with the hotline to report any incidents.

The app will also help create documentation about incidents, including location, time, and contact information for potential witnesses.

In 2020, at least 25 women were murdered, 38 others committed suicide, 67 self-immolated, 10,370 lawsuits were filed, and 125 sexual assaults were recorded, according to General Directorate to Combat Violence Against Women.

In 2011, the Kurdistan Regional Government (KRG) passed Domestic Law No. 8, the Law against Domestic Violence in the Kurdistan Region of Iraq, which calls for the creation of women's shelters. Kurdistan has some local NGOs permitted to run and maintain shelters for women fleeing violence.

In addition, the KRG, aided by the United Nations agencies, particularly the United Nations Development Assistance Framework (UNDAF), planned a national strategy to confront violence against women )2017-2027). https://www.shafaq.com/en/Kurdistan/Kurdistan-launches-app-to-address-violence-against-women

butterfly   UAE's Ducab Group wins Cabling Contract in Iraq 16th December 2021 in Iraq Industry & Trade News UAE's Ducab Group has reportedly been awarded a contract to supply overhead conductors for a 288-Km Over-Head Line (OHL) as part of a GE Renewable Energy project in Iraq.

According to Zawya, the contract involves the design, supply, installation, testing, and commissioning of a 400kV overhead transmission line from Jordan to the Qaim area in Iraq.

Mohammed Abdul Rahman Al Mutawa (pictured), CEO of Ducab Group, is quoted as saying:

"By supplying energy solutions to the Iraq power project, we can help ensure a reliable power supply to Iraq and aim to support the country in achieving its socio-economic objectives."

(Source: Zawya) https://www.iraq-businessnews.com/2021/12/16/uaes-ducab-group-wins-cabling-contract-in-iraq/

 

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