TNT Tidbits From TNT Wednesday AM

TNT: Tishwash:  Source: France’s Total wants to leave Iraq and sell its $27 billion stake

 

An informed source said, on Wednesday, that the French company Total wants to withdraw from Iraq.

 

The source told “Economy News” that the French company Total Energy is negotiating to sell a share in the deal of its huge projects in Iraq, amounting to 27 billion dollars, in favor of Qatar Energy.

 

He added, “The French giant is renewing its efforts to complete the deal with the formation of a new government in Iraq     link

 

Tishwash:  The assassination of a prominent leader in the Sadrist movement

 

Unidentified gunmen assassinated, today, Wednesday, the prominent leader of the “Peace Brigades”, Salah Berish al-Shiblawi, the commander of the military wing of the Sadrist movement, led by Muqtada al-Sadr.

 

Security sources said that “unidentified gunmen in a car without traffic plates opened fire on the prominent leader of Saraya al-Salam (the Sadrist movement), Salah Barish al-Shiblawi, in the Jihad neighborhood, west of the Iraqi capital, Baghdad.”

 

The sources indicated that “the gunmen fled to an unknown destination after the assassination of Al-Shiblawi, while the security forces imposed strict security measures at the exits of the Jihad neighborhood to prevent the militants from fleeing outside the area after carrying out the assassination.”

 

The area witnessed a proliferation of Saraya al-Salam militants, after the assassination of a prominent Saraya leader in Baghdad, which is said to have come against the backdrop of a clan vendetta, and no official confirmation has yet been issued about the circumstances of the incident.  link

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CandyKisses:  Iraq achieved a financial surplus of more than 38 trillion dinars in the past months

 

The Ministry of Finance issued the Iraqi state accounts for the month of last September for the fiscal year 2022, which indicated that the volume of financial revenues amounted to more than 122 trillion dinars, and a financial surplus amounted to more than 38 trillion dinars

 

According to the data and tables issued by the ministry in the month of November for the accounts of last September, which showed that oil is still the main resource for Iraq’s general budget, reaching 96 percent, which is the same percentage for the past six months, which indicates that the rentier economy is the basis in Iraq’s general budget

 

Through the financial tables, it appeared that the total oil revenues for the month of September amounted to 122 trillion and 796 billion and 502 million and 987 thousand and 111 dinars, which represents 96 percent of the total revenues, while the total non-oil revenues amounted to 4 trillion and 958 billion and 597 million and 101 thousand and 636 dinars. 4 percent of the total revenues, indicating that the total expenditures with the advances amounted to 84 trillion and 666 billion and 606 million dinars

 

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CandyKisses:  For the third day in a row, oil prices fell

 

Oil prices fell for the third day in a row, today, Wednesday, in light of the difficult expectations of Chinese demand and the rise in US stocks.

 

West Texas Intermediate crude fell 46 cents toward $88.45 a barrel, after falling by 4% over the past two days, and Brent crude fell 35 cents to $95.01.

 

The outbreak of the Corona virus in China shows the pressures on the economy as the zero-Covid policy continues, although harsh lockdowns and mass testing have failed to control it.

 

On the other hand, the American Petroleum Institute reported that oil inventories increased by 5.61 million barrels last week, according to people familiar with the numbers, which also showed a rise in gasoline stocks, while markets awaited official data from the Energy Information Administration later on Wednesday.

 

Crude oil rebounded in October after the Organization of the Petroleum Exporting Countries and its allies agreed to cut supplies, while tight EU restrictions on Russian oil flows next month amid the war in Ukraine could add upward pressure on prices.

 

Traders were also tracking the results of the US midterm elections, where a change in the balance of power in the Senate and House of Representatives could derail President Joe Biden’s legislative agenda and affect the US currency, with the potential for large swings in the prices of crude oil and other commodities.