Bondlady’s Corner Iraqi News Friday Afternoon

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Iraqi News Friday Afternoon 8-5-22

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Oil Confirms That It Is Proceeding With Plans To Maintain And Increase Production And Export For The Next Five Years


Economie| 09:57 – 04/08/2022    Baghdad – Mawazine News  Today, Thursday, the Ministry of Oil confirmed that it is proceeding with plans to maintain and increase production and export for the next five years, while noting that Iraq has production capabilities that qualify it to be one of the most important producers.


The Executive Director of the National Oil Company, Hamid Younis, said while presiding over a meeting of officials of extractive companies, according to a statement issued by the ministry received by Mawazine News, that “the Ministry of Oil and the National Oil Company are proceeding with implementing a program of plans to sustain and increase production prepared for this purpose, in cooperation with international contracting companies.”


Younis added that “Iraq has promising production capabilities that qualify it to be one of the most important producers during the next few years, noting that” the conditions that Iraq witnessed in 2014, the global economic crisis and the drop in oil prices have disrupted plans to increase national production.


He pointed to “the importance of financial support and funding to reach the planned goals according to accurate calculations, and production rates of 5-8 million barrels per day can be reached over the coming years, taking into account the changes and requirements and needs of the global oil markets.”


He pointed out that “the plans to implement projects include intensifying drilling and exploration operations, developing infrastructure, establishing pumping and processing stations, pipeline networks, gas investment, developing platforms for export outlets, and others.”


For his part, the Director General of the Oil Exploration Company, Ali Jassim, said that “the next phase will witness a remarkable activity for the exploration sector, as these plans rely a lot on sustaining and increasing production of oil and gas.” Seismic teams, especially in the Western Desert and Nineveh Governorate, to transform the energies and expectations that lie underground into actual production that contributes to achieving our promising plans.”


Kurdistan Trade Indicates A Decrease In Commodity Prices In The Markets After A Decision


Posted On2022-08-05 By Sotaliraq   On Thursday, the Ministry of Commerce of the Kurdistan Regional Government confirmed that the decision to raise customs duties on a number of goods helped significantly reduce the prices of food commodities in the markets.


“The regional government’s plan has succeeded greatly in trying to control the price hike, which was a global crisis due to the Russian-Ukrainian war,” the agency’s Minister of Trade, Questan Muhammed, said.


Muhammad added, “The regional government also decided to extend this decision until the middle of the ninth month, which will be in the interest of the citizens.”


In mid-July, the Kurdistan Regional Government extended the decision to raise customs duties on basic foodstuffs until the thirtieth of next September.


The decision includes foodstuffs and basic needs such as (flour, rice, sunflower oil, corn oil, solid vegetable fat, solid animal fat, black tea, sugar, legumes (chickpeas, lentils, beans, legumes, cowpeas, and mung, and infant formula). .   LINK


With A Difference Of 100 Dinars.. Learn About The Exchange Rates Of The Dollar On The Iraqi Stock Exchange


Economie| 11:16 – 04/08/2022   Baghdad – Mawazine News, the dollar exchange rates rose, today, Thursday, on the Iraqi Stock Exchange.   Selling price: 148,700 dinars per $100,  buying price: 148,600 dinars per $100.


The Dollar Stabilizes In The Iraqi Market


Economie| 10:38 – 05/08/2022  Baghdad – Mawazine News  The dollar exchange rates witnessed stability today, Friday, on the Iraqi Stock Exchange.  And the selling prices of the dollar were recorded at 148,700 dinars per 100 dollars, while the purchase prices of the dollar were recorded at 148,600 dinars per 100 dollars.


Oil Price Hike


Economie| 01:22 – 05/08/2022   Follow-up – Mawazine News: Oil prices returned, during Friday’s trading, to a rise, after a two-day decline due to US data that showed a sudden rise in crude stocks.


By 09:24 Moscow time, futures contracts for the month of September, Brent crude, rose 0.53% to $94.62 a barrel.   Crude is trading below $95 a barrel for the first time since July 14, 2022.


While US West Texas Intermediate crude futures rose 0.75% to $89.19 a barrel, according to trading data, and US crude was trading below $90 a barrel for the first time. Once since February 21, 2022. Ended 29/AD


Iraq Towards Developing The Sources Of The Economy And Activating The Agricultural Sector


Money  and business   Economy News – Baghdad   On Thursday, the Ministry of Planning revealed a move to prepare a five-year development plan for the development of the Iraqi economy, while indicating that there is a trend towards developing the country’s economic resources according to three determinants.


Ministry spokesman Abdul-Zahra Al-Hindawi said that “the ministry is preparing to prepare new five-year development plans for the next five years,” noting that “this plan will take into account all challenges and changes and what is related to the economy, energy and food.”


Al-Hindawi added, “The trend now is towards developing the sources of the economy and activating the agricultural sector according to modern methods in agriculture and rationing water use with regard to agriculture in particular, to ensure the sustainability of water sources in a way that secures the country’s need for human and agricultural consumption,” stressing that “we are moving towards achieving food security and sufficiency.” self from Iraqi agriculture.


He explained, “The Corona pandemic affected the country’s economy negatively, and caused a state of economic downturn in Iraq and the world, which disrupted the state of economic growth planned within the development plans.”


He stressed, “The failure to achieve growth will pave the way for a state of decline in the rates of economic reality, which will directly affect the livelihood of the individual, in addition to the fact that the decline in oil prices during the past two years 2020 and 2021 greatly affected Iraq, whose economy depends mainly on oil, which was negatively reflected.” on projects, and the impact on job opportunities and others, all of which are factors that affected the living life of the Iraqi individual.”


He stated, “The Iraqi economy is part of the global economic system, and is affected by conditions, including the rise in food prices in the global market, as well as energy prices, in addition to water scarcity, which is a global crisis.”


In a statement to the official news agency, Al-Hindawi pointed out that “many countries in the world witnessed an increase in annual inflation rates, such as America, European countries, Turkey, Iran, the Gulf states and some African countries.”   518 . views   Added 08/04/2022 – 8:38 PM   Update 08/05/2022 – 5:27 PM


Al-Halbousi Supports Al-Sadr’s Call For Early Elections


Political | 01:50 – 05/08/2022   Baghdad – Mawazine News, Parliament Speaker Muhammad al-Halbousi announced today, Friday, his support for the call of the leader of the Sadrist movement, Muqtada al-Sadr, to hold early elections.


Al-Halbousi said in a tweet to him, which was followed by “Mawazine News”, that “the House of Representatives is the representative of the people, and those masses that mobilized are part of his entity and his conscience, and whose will cannot be neglected in the early elections that Mr. Muqtada al-Sadr called.”


He added: “We support proceeding with parliamentary and local elections within an agreed period of time to re-start the democratic process under the roof of the constitution and understanding in line with the country’s supreme national interest.”


Blackshart: Our Meeting With Mr. Al-Sadr Was Good


Political  11:53 – 05/08/2022   Baghdad – Mawazine News, Head of the United Nations Mission in Iraq, Jenin Plaschaert, confirmed today, Friday, that her meeting with the leader of the Sadrist movement, Muqtada al-Sadr, was good.


Plasschaert said in a press conference after her meeting with Mr. Al-Sadr in Al-Hanana that she “discussed with Mr. Al-Sadr the importance of finding a solution to the political crisis.”


Today, Friday, Blackshart arrived at the office of the leader of the Sadrist movement, Muqtada al-Sadr in Najaf. Ended 29 / AD 99




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