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KTFA: Samson: Jordan and Saudi Arabia hope that the Iraqi parties will reach a formula to form a government

22nd June, 2022

Today, Wednesday, Jordan and Saudi Arabia expressed their hope that the Iraqi political parties would reach a formula that leads to the formation of the new federal government.

This came in a joint statement issued by the two kingdoms today, after talks with King Abdullah II of Jordan and Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince, Deputy Prime Minister and Minister of Defense in Saudi Arabia, and at the conclusion of the latter’s visit to Jordan.


The two sides stressed the centrality of Iraq’s security and stability as a pillar of the region’s security and stability, and affirmed their support for Iraq in its efforts to achieve security and stability, combat terrorism, rebuild and achieve a better future for the Iraqi people.


The two sides expressed their hope that the Iraqi parties would reach a formula to form an Iraqi government to devote a comprehensive political process that meets the aspirations of all components of the Iraqi people, according to the statement. LINK




Samson:  Iraq Achieves The Highest Oil Revenue In Its History


21st June, 2022


The Oil Marketing Company (SOMO) announced, on Tuesday, that it achieved the highest revenues in the history of Iraqi oil export, while it expected oil prices to remain within the range of 115 dollars per barrel until the end of this year.


The director of market research at SOMO, Muhammad Saadoun, said in a statement reported by the official Iraqi News Agency and seen by / the information, that “we live within high price rates, and we have achieved so far the highest revenues in the history of Iraqi oil export by about 11 billion dollars for the past month, and we expect these rates to continue. He pointed out that “indicators show that global oil prices for this year will remain at around $115.”


Saadoun added: “We are in the third quarter of this year, and prices will witness more support and will stabilize during the next three months,” noting that “the oil market is witnessing a challenge due to the Russian-Ukrainian war, which affected the market because Russia is one of the major oil producing and exporting countries, and the European embargo.


It will remain and may affect the European market, and from this aspect, agencies expect a decrease in Russian oil production estimated between one and a half million, and this means that oil supplies lose this number, and there is another aspect, which is that this conflict affected economic growth and this is reflected in demand expectations.“


He pointed out that “most of the international energy agencies have modified their price forecasts and increased these expectations from $95 to 120 to be the expected price for 2022, and to 115 for major international banks, and some companies expected it to reach $150 in light of the current stockpile being at its lowest level.”


He pointed out that “the European Union’s decision to impose an embargo on Russian oil will be directly reflected in the expected revenues for the year 2023, which extend to 2024, an increase to 120 dollars, and this is a large number.”   LINK

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