Bondlady’s Corner Sunday AM

Iraqi News Sunday AM 8-14-22

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US Forces Took Out 89 Tankers Loaded With Stolen Oil To Iraqi Territory


the scientist| 01:26 – 13/08/2022   Follow-up – Mawazine News, the Syrian “SANA” news agency reported, on Saturday, that a convoy of the American forces, consisting of 89 tankers filled with oil, left towards Iraqi territory through the Mahmoudiya crossing.


“SANA” news agency quoted local sources from the Yarubiyah countryside as saying that “the American forces took out a convoy of 89 tanks packed with the stolen oil to their bases in Iraqi territory through the Mahmoudiyah crossing, two days after it had stolen a similar convoy of 144 tanks.” Ended 29/N33


Including Iraq..OPEC Increases Oil Supplies To Seven Countries


Economie| 09:27 – 13/08/2022   Follow-up – Mawazine News, OPEC decided to increase oil supplies for the month of July from seven countries, including Iraq.


The production of oil from the 13 member states of the Organization of Petroleum Exporting Countries increased by about 216,000 barrels per day during the month of July, to reach 28.896 million barrels per day, supported by increased supplies from seven countries, including Iraq.


According to the monthly report of the Organization of the Petroleum Exporting Countries, seen by the Iraqi News Agency (INA), “the largest increases came from Saudi Arabia, as its oil production rose by 158,000 barrels per day, to reach 10.714 million barrels per day, followed by the UAE, which recorded an increase of 48 thousand barrels per day, and then Kuwait recorded an increase of 47,000 barrels per day.


He continued, “Iraq increased its production by 30 thousand barrels per day to reach 4,496 million barrels per day,” noting that “the increase in Iraq’s oil production rose by 447 thousand barrels per day from the same period in 2021.”


She added that “the increase also came from Gabon, by 14,000 barrels per day, and the rest of the increases also came from Equatorial Guinea’s oil by 13,000 barrels per day and Nigeria by 6 thousand barrels per day.”


The report also indicates that the largest drop came from Venezuela, where shipments decreased by 49,000 barrels per day, bringing its production to 661,000 barrels per day, followed by Angola by 19 thousand barrels per day, then Ian and Libya by 11 thousand barrels per day each. Congo by 6 thousand barrels per day, and finally Algeria by 3 thousand barrels per day   LINK

Again.. A Decline In Oil Prices


Economie| 08:19 – 12/08/2022   BAGHDAD – Mawazine News: Oil prices fell by about two percent to reach below $98, after exceeding $ 100 earlier today, Friday, due to expectations that the Gulf of Mexico supply disruptions in the United States will be short-lived, while recession fears cast a shadow on demand expectations. .


By 15:10 GMT, Brent crude futures fell $1.83, or 1.8 percent, to $97.77 a barrel. West Texas Intermediate crude futures fell $2.16, or 2.3 percent, to $92.18 a barrel. Both crudes rose more than two percent on Thursday.


Brent crude is heading towards a 3 percent gain this week, offsetting some losses last week, when it plunged 14 percent in its biggest weekly loss since April 2020, amid fears that rising inflation and raising interest rates will hurt economic growth and fuel demand. West Texas Intermediate crude is also heading for a gain of 3.7 percent.


But uncertainty limited price gains as the market absorbed the opposing views of the Organization of the Petroleum Exporting Countries (OPEC) and the International Energy Agency on the demand outlook.


A Louisiana port official said crews are expected to replace a damaged section of the pipeline by the end of Friday, which will allow production to resume on seven US offshore oil platforms in the Gulf of Mexico.


Shell, the largest oil producer in the Gulf of Mexico, said on Thursday it had halted production at three deep-water platforms in the region. The three platforms produce up to 410,000 barrels of oil per day in total.


The market also absorbed the discrepancy between OPEC and the International Energy Agency in their forecasts for demand.


“We are seeing an economic slowdown, but it is not clear if it is a significant slowdown as some recent forecasts suggest,” said Ole Hansen, director of commodity strategy at Saxo Bank.


“Demand moves like tides, but supply remains the main concern,” he added.


European sanctions on Russian oil are due to be tightened later this year, while a coordinated six-month plan between the United States and other advanced economies to withdraw their energy stocks is due to expire by the end of the year.


On Thursday, OPEC cut its forecast for global oil demand growth in 2022 by 260,000 barrels per day, expecting demand to increase by 3.1 million barrels per day this year.


This contrasts with the vision of the International Energy Agency, which raised its forecast for demand growth to 2.1 million barrels per day due to the shift to oil instead of gas to generate electricity as a result of high international gas prices.


At the same time, the International Energy Agency raised its forecast for Russian oil supplies by 500,000 barrels per day in the second half of 2022, but said that OPEC would have difficulty boosting production.



The Central Bank Counts The Number Of Private Banks Operating In Iraq


Thursday 11 August 2022 21:24 | Economic Number of readings: 812


Baghdad / NINA / – The Central Bank counted, today, Wednesday, the number of private banks operating in Iraq, while setting a condition for the retired employee to pay the remaining loan he owes.


And the Central Bank media said to the official agency, “The number of private banks operating in Iraq is 70 banks (commercial, Islamic, branches of foreign banks operating in Iraq).”


On the other hand, he added, “Requiring the retired employee to pay the installments of loans and advances he owes is related to the retirement authority,” noting that “the retirement law stipulates that the amount of deduction from the pensioner’s salary does not exceed 50% of his salary.”


He stressed that “the bank is obliged to oblige the retired employee to pay part of the remaining loan that he owes, so that half of his salary covers the value of the monthly installment after reducing the principal of the loan,” noting that “there is no demand to pay the full amount as some promote.” / End 8


Allawi: Hold A Parliament Session Anywhere In Iraq


Friday, August 12, 2022 8:49 PM   Baghdad / The National News Center, the head of the National Coalition, Iyad Allawi, called today, Friday, to hold a parliamentary session “anywhere in Iraq” to choose a president and form a new government that would pave the way for early elections, while warning of “the deterioration of the situation and the danger” of the current stage.


The head of the National Coalition, Iyad Allawi, said in a statement received by the National News Center, “We have always called for a national dialogue in which we see a solution to crises and overcoming the state of chaos and complexity, as well as our demand, since 2010, for the formation of a higher council for strategic policies and now the formation of a council of wise men, but unfortunately it did not respond.” opponents of our supplications.”


Iyad Allawi added, “Therefore, there is nothing left but to respect the timing of the constitution, which they have erred in their hands, despite our reservations about many of its paragraphs, by holding a session of the House of Representatives anywhere in Iraq in the presence of the President of the Judicial Council and the President of the Federal Court to choose or install the President of the Republic and form a government that paves the way for a procedure Early elections with a fair electoral law and a fair election commission.”


Allawi continued, “Otherwise, the situation will worsen and deteriorate into unimaginable consequences, and I have nothing but warning and warning of the repercussions and dangers of the stage that our beloved country and our dear people are going through, who have suffered woes and been deprived of the most basic elements of a decent life.


Ali Al-Tamimi: Exceeding The Deadlines And The Failure Of The Constitutional Institutions Allow The Federal Court To Dissolve Parliament


Saturday, August 13, 2022 11:42 AM  Baghdad / National News Center   Legal expert Ali Al-Tamimi confirmed, today, Saturday, that exceeding the constitutional periods and the failure of constitutional institutions, including Parliament, allows the Federal Court to dissolve Parliament,


indicating that the general principles contained in the Civil Code confirm that the legislative institution when it fails to perform its role, the judiciary takes over dissolving it.


Al-Tamimi said in a press statement, “The Federal Court can dissolve Parliament in accordance with Articles 47 and 59 of the Civil Code related to the failure of its constitutional role and exceeding the constitutional deadlines.”


He added that  “the general principles contained in the civil law confirm that when the institution is unable to perform its role, the judiciary takes over dissolving it,”


noting that  “the Federal Court has a general and mandatory decision-making mandate, in accordance with Articles 92, 93 and 94 of the Iraqi constitution.”


Al-Tamimi expected that “the court will move to dissolve parliament, which has become a popular demand.”


Scary: Central Banks Reserves Are Variable And Depend On How They Are Managed


Saturday, August 13, 2022 9:50 PM   Baghdad / National News Center


Today, Saturday, the Governor of the Central Bank of Iraq, Mustafa Ghaleb Makheef, confirmed that the reserves of central banks are variable and depend on how they are managed, while he stressed the existence of positive indicators that confirm the continued increase in the growth rates of domestic product and non-oil government revenues.


In a statement to the official agency, followed by the National News Center, Makheef said, “The reserves of central banks change from time to time, and this depends on how these reserves are managed,


in addition to the ways in which Iraq was financed at the end of 2020, where the Central Bank took the initiative to cooperate with The financial institutions operating in Iraq and the Ministry of Finance included a number of measures that bore fruit over time,


especially after the improvement of oil revenues to the Ministry of Finance at a time when there was a lack of liquidity with the government, especially in the distribution of salaries, and economic indicators indicated that oil prices would improve and there would be positive indicators in the period coming.”


He added, “These indicators were within the economic analyzes and were well positive, and included the rise in oil prices, the government’s implementation of the white paper seriously, and then the search for an increase in non-oil government revenues, and this we expect to reap its fruits during the next stage.”


He pointed out that “the Central Bank has taken a very large initiative during the last period, as it launched an initiative within a fund that was allocated 18 trillion dinars and distributed in various industrial, agricultural, commercial and investment sectors. A facilitator of this initiative is useless.”


He expressed his hope that “during the coming period, there will be a continuous growth of economic indicators, especially in the reserves, to give indicators for the region and the world that encourage investment projects in Iraq,”


stressing that  “all indicators so far indicate the continued increase in GDP growth rates for a short period.”


He noted that, “the residential complexes have provided, during the past few years, through the initiative of the Central Bank, a lot of job opportunities, as well as provided housing for many citizens,”


stressing that   “continuing to provide the initiative, in addition to allocating a fund for this support, and the next stage will be much better.”  LINK


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