Zig’s Place Chatroom News Thursday PM 7-1-21

Zig’s Place Chatroom News Thursday PM 7-1-21

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Butterfly    The first of its kind in Iraq..Oil Signing the "Green Loan" with the International Finance Corporation

Thursday 01 July 2021 21:34......The Ministry of Oil announced today, Thursday, the signing of the "green loan" with the International Finance Corporation, which is the first of its kind in Iraq.

The ministry said in a statement, "It is a great achievement achieved by our distinguished partnership in Basra Gas Company by signing the first vital agreement with the International Finance Corporation to obtain a loan that does not require any guarantees from shareholders, the first "green loan" in Iraq's history."

She added that "obtaining this support is at the heart of Iraqi efforts to reduce gas flaring and will contribute to the growth projects of the Basra Gas Company, enhance the country's transition opportunities towards clean energy and a green economy, and open the country to long-term international support from major international banks."

butterfly   Al-Rasheed Bank launches a new batch of the predecessors of the ministries of defense and interior, employees and retirees

Thursday 01 July 2021 20:45......Al-Rasheed Bank announced the launch of a new batch of the predecessors of the employees of the Ministries of Defense and Interior, employees, as well as retirees.

The bank’s media office called “all beneficiaries who receive text messages to review the bank’s branches or electronic payment offices to receive the amount,”

adding that “work is continuing to raise the amounts in the balances of those registered for advances through the bank’s application.”

butterfly  After OPEC's decision to hold its next meeting in Baghdad..Oil, the OPEC Plus meeting has been postponed to tomorrow, Friday

Thursday 01 July 2021 22:27.....The Minister of Oil announced the postponement of the "OPEC Plus" meeting today on the agreement to reduce production, until tomorrow, Friday.

Oil Minister Ihsan Abdul-Jabbar Ismail said in a statement, "The member states decided to postpone the meeting, which started today and took several hours to tomorrow, to hold further discussions and consultations to reach an agreement that achieves common goals in stability and balance for global oil markets."

Ismail referred to the efforts being exerted to bring the views closer in order to reach an agreement that serves the producers and achieves stability.

He added that the meeting discussed the challenges facing the oil market and a review of the reports prepared by the relevant committees in OPEC, confirming OPEC's decision to hold its next meeting in Baghdad and to celebrate the 60th anniversary in Baghdad.

butterfly  Egypt calls on the Security Council to consider the Renaissance Dam crisis before an escalation threatens international peace

Thursday 01 July 2021 22:43.......Egypt called on the Security Council to urgently consider the crisis of the Grand Ethiopian Renaissance Dam, because this crisis could pose a threat to international peace.

According to the "Akhbar Al-Youm" portal, Egyptian Foreign Minister Sameh Shoukry said in a letter to the council, "The situation constitutes an imminent threat to international peace and security, and requires the council to immediately consider it."

According to the letter, the Egyptian minister requested the necessity of holding an urgent session under the item of security and peace in Africa.

He stressed Shukri in his letter that "after 10 years of negotiations, the issue has evolved into the current state of cause international friction, presents the continuation of international peace and security, risk, and therefore Egypt has chosen to this matter is presented to the UN Security Council.

Thanks and stressed the importance to consider the Appropriate measures to ensure that the crisis is resolved in an equitable manner and in a manner that protects and maintains security and stability in an already fragile region.

butterfly  It is noteworthy that Egyptian President Abdel-Fattah El-Sisi warned Ethiopia, last April, of “compromising Egypt’s water rights,” stressing that “all options are open.”

Ethiopia began building the "Renaissance Dam" on the Blue Nile in 2011 with the aim of generating electricity. Egypt fears the impact of the dam on its share of 55.5 billion cubic meters of Nile water; Sudan fears the impact of the dam on the Sudanese dams on the Blue Nile.

All rounds of negotiations, which began about 10 years ago, failed to reach a binding agreement regarding the filling and operation of the dam.

Ethiopia has confirmed on more than one occasion its intention to complete the second filling of the Renaissance Dam in the rainy season, at the beginning of next July, regardless of the conclusion of an agreement with the two downstream countries. Egypt and Sudan consider Ethiopia's second filling of the Renaissance Dam without reaching an agreement a threat to the national security of the two countries.

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