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More Iraqi News Thursday PM 2-25-21

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Oil Reviews The Final Version Of The Draft Federal Oil And Gas Law

Energy  Economy News – Baghdad Oil Minister Ihsan Abdul-Jabbar stressed the importance of expediting the passage of the federal oil and gas law, and its importance in regulating the management of oil and gas wealth in Iraq.  Ismail said in a statement seen by “Al-Iqtisad News”, “The meeting of the Opinion Committee at the Ministry of Oil, which was held on Wednesday February 24, 2021, included discussion and review of the final version of the Federal Oil and Gas Law,” stressing that this copy will be referred to the Council of Ministers for approval. .

He explained that “after completing its review by the concerned authorities in the ministry, the Council of Ministers will review this copy, and in turn refer it to the House of Representatives in order to enact this law.”

The Minister of Oil indicated, “the ministry’s keenness to pass a law that contributes to the development of the oil and gas industry, and the optimal investment of the national wealth in Iraq in order to support the national economy.”

It is noteworthy that the Iraqi Council of Ministers directed, last year, to expedite the completion of the oil and gas bill.    Number of observations 116 Date of addendum 02/25/2021

https://economy-news.net/content.php?id=24221

The Minister Of Oil Stresses The Importance Of Expediting The Passage Of The Federal Oil And Gas Law

Thursday 25, February 2021 15:17 | Economical Views: 258  Baghdad / NINA / Oil Minister Ihsan Abdul-Jabbar stressed the importance of expediting the passage of the Federal Oil and Gas Law and its importance in regulating the management of oil and gas wealth in Iraq.

According to a statement by the Ministry of Oil today, Abdul-Jabbar said, “The meeting of the Opinion Committee at the Ministry of Oil that was held on Wednesday included discussion and review of the final version of the Federal Oil and Gas Law, confirming that this copy will be referred to the Council of Ministers for approval after completing its review by the concerned authorities in The ministry, and then the cabinet will review this copy, and in turn refer it to the House of Representatives in order to enact this law.

The minister indicated that the ministry is keen to pass a law that contributes to the development of the oil and gas industry, and the optimal investment of the national wealth in Iraq in order to support the national economy. “/ End 2    https://ninanews.com/Website/News/Details?Key=889960

Collecting Representative Signatures To Dissolve Parliament In Preparation For Early Elections

Political  Thursday 25 February 2021 | 11:25 a.m.| Views: 119  Deputy Ali Al-Badiri revealed, on Thursday, that parliamentary signatures have been collected in the form of a resolution in order to dissolve the House of Representatives in preparation for holding the elections, and he indicated that the number of representatives who signed the draft decision is currently 21, and it is expected to double . .

Al-Badiri said, “The representatives who signed the draft decision are from various political blocs, and the number is constantly increasing, especially since most of them expressed their solidarity with the signatures, and what stood in the way of collecting a greater number of signatures is the absence of a session, in addition to the fact that most of the representatives They live in different governorates .

He added that “this decision was taken based on the desire of a group of representatives from various blocs, that the elections be early, and that the vote to dissolve the parliament in the month of September, and the date will be fixed in preparation for their conduct on 10/10/2021”,

indicating that “the signatures will be completed in the presence of The first session and we strive for the number to exceed 60 signatures to be shown to the media, and in the month of September to complete the vote on the Federal Court law and some of the decisions and laws that we need in the next elections .

Al-Badiri called on “all MPs to clarify the truth of their position on holding elections through the media,” stressing that “the credibility of the deputies’ position on holding early elections will lie in their signature on that draft.”    https://aynaliraqnews.com/index.php?aa=news&id22=144278

Forming A Specialized Committee Of Seven Bodies To Set Standards For Investment Projects

Economy  Thursday 25 February 2021 | 11:27 a.m.| Views: 161  The Ministry of Construction, Housing and Public Municipalities announced, on Thursday, the formation of a specialized committee with seven sectoral bodies to set mechanisms and criteria for approving investment projects and resolving overlaps in this field .

“The department recently held a meeting with seven sectoral bodies in the field of approving investment projects, which are the Ministries of Interior, Higher Education, Oil, Health, Education and Culture, in addition to the Baghdad Municipality, ” said the Director General of the Ministry’s Housing Department, Haider Fadel Al-Mayali .

Al-Mayali added, “The meeting decided to form a joint committee among these bodies that includes engineers with specialization to lay down the mechanisms for that, and to study the currently approved standards in the field of project approval in order to reach appropriate solutions and agree on them to be relied upon in that, leading to a solid and accurate investment process according to a new stage Supportive of investment ”.

He explained, “The meeting aimed to coordinate between these bodies to unify the approved standards and controls, which were formally entrusted by the General Secretariat of the Council of Ministers,” noting “the importance of resolving conflicts between these parties to eliminate the administrative bureaucracy that faces most projects and impedes them.”    https://aynaliraqnews.com/index.php?aa=n

The Central Bank Assigns A Deputy To The Agency

Thursday 25, February 2021 12:19 | Economical Views: 345  Baghdad / NINA / The administration of the Central Bank of Iraq decided to assign Ihsan Shamran Al-Yasiri the duties of the Deputy Governor of the Central Bank for Administrative Affairs as an agency, based on the approval of the Prime Minister. / End 5    https://ninanews.com/Website/News/Details?key=889929

Allocating One Trillion Dinars To Support The Industrial And Agricultural Sector In The 2021 Budget

Money  and business  Economy News – Baghdad  The Parliamentary Finance Committee revealed, on Thursday, that an amount of two trillion dinars has been allocated in the current year 2021 budget to support the industrial and agricultural sectors and encourage farmers to support the local product.

A member of the Finance Committee, Siham Al-Aqili, said, in a statement reported by the official Al-Sabah newspaper and seen by Al-Iqtisad News, that the Finance Committee in the House of Representatives took into consideration allocating funds for the development of industrial and agricultural sectors in the current year 2021 budget, as it allocated two trillion dinars to achieve this the purpose”.

She added that “the budget contained items to pay farmers’ dues and increase the capital of the industrial and agricultural banks,” in addition to “imposing annual taxes on foreign workers amounting to one million and 500 thousand dinars and benefiting from these sums collected in support of the industrial and agricultural sectors.”    Number of observations 87 Date of addendum 02/25/2021

https://economy-news.net/content.php?id=24220

Brent Crude Prices Touch $ 68

Time: 02/25/2021 08:24:51 Read: 2,990 times  (Baghdad: Al Furat News) Oil prices rose, today, Thursday, to their highest levels in more than 13 months, with the support of monetary easing policies and a decrease in crude production in the United States.

Brent crude futures rose 10 cents, or 0.10 percent, to $ 66.28 a barrel by 05:20 GMT, while U.S. West Texas Intermediate crude for April reached $ 63.28 a barrel, up 6 cents, 0.09 percent.

Both contracts hit their highest levels since January 2020 earlier in the session, with Brent at $ 67.44 and WTI at $ 63.67.

The confirmation from the US Federal Reserve that interest rates will remain low for a while has boosted investor appetite for risk and global financial markets.

The Energy Information Administration said a rare winter storm in Texas caused US crude production to drop by more than 10%, or 1 million barrels per day, last week.

The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia, a group known as OPEC +, are due to meet on March 4.

Sources in OPEC + said that the group will discuss a slight easing of oil supply restrictions from April due to the recovery in prices, although some are suggesting stability for the time being given the risk of new setbacks in the battle against the epidemic.

Additional voluntary cuts by Saudi Arabia in February and March led to a scarcity of global supplies and support for prices.   LI NK