WOTS TUE JUL 27 21
Al-Kazemi from Washington: There is no alternative to "Exxon" except for another American company
There is no My FX Buddies Podcast Today
The dollar exchange rates on the local stock exchange for Tuesday, (July 27, 2021), according to specialists' monitoring.
Baghdad - Stock Exchange of struggle الكف
147,750
In most Baghdad exchanges
Purchase 147,250
Selling 148,250
Favorite Currencies Forex Quotes
| Symbol | Bid | Ask | High | Low | Open | Change | Time |
|---|---|---|---|---|---|---|---|
| USD/IQD |  1431.7000 |  1482.5000 | 1457.4000 | 1455.3000 | 1455.3000 | 0.3000 | 10:51 |
| USD/VND | 23005.0000 | 23008.0000 | 23020.7900 | 23015.2800 | 23020.7900 | -6.5000 | 00:21 |
| USD/CNY | 6.5015 | 6.5035 | 6.5099 | 6.4733 | 6.4818 | 0.0195 | 05:21 |
| USD/KWD | 0.3004 | 0.3014 | 0.3006 | 0.3005 | 0.3006 | -0.0001 | 04:51 |
| GBP/USD |  1.3786 | 1.3786 | 1.3831 | 1.3767 | 1.3816 | -0.0031 | 05:22 |
| USD/IRR | 42000.0000 | 42210.0000 | 42097.5000 | 42097.5000 | 42097.5000 | 0.0000 | 00:00 |
| USD/IDR | 14491.0000 | 14491.0000 | 14523.0000 | 14461.0000 | 14523.0000 | -33.0000 | 05:22 |
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American institutions expect to extend Iraq's exemption to import energy from Iran
The visit of the Iraqi delegation headed by Prime Minister Mustafa Al-Kazemi coincides with the expiry of a 120-day exemption - on July 30 - granted to Iraq to continue importing Iranian electricity.
Since 2018, Washington has granted Baghdad exemptions to import Iranian energy, which has been subject to US sanctions since that year.
The Vice President of Foreign Reports, Matthew Reed, concerned with US foreign policy, based in Washington, said that US President Joe Biden does not want to fight a battle with Baghdad over the waiver of sanctions.
"The extension is virtually guaranteed in light of the intense summer heat," he added.
Rachel Zimba of New York-based Ziemba Insights and senior fellow at the Center for a New American Security expects the waiver to be granted despite Iraq's difficult dependence on Iranian fuel.
"The Iraqis may request additional waivers to facilitate payment to Iran," Zimba said.
Iraq has suffered from electricity shortages this year due to the intermittent supply of electricity and Iranian gas, while Iraq is facing difficulties in settling billions of dollars in arrears to Tehran without the threat of financial repercussions from the United States. Iraq was the second worst country in the world in terms of burning gas after Russia in 2020, It has held that rank since at least 2016, according to the World Bank.
Al-Kazemi from Washington: There is no alternative to "Exxon" except for another American company
link
The Iraqi Prime Minister, Mustafa Al-Kazemi, said that he wants another American company to replace Exxon Mobil Corp. (XOM.N) when it exits Iraq.
Exxon, which in 2019 appeared ready to go ahead with a $53 billion project to boost Iraq's oil production, sought to sell its 32.7 percent stake in West Qurna 1, one of Iraq's largest oil fields.
Al-Kazemi told a small group of reporters in Washington, after talks with President Joe Biden, that "ExxonMobil is considering exiting Iraq for reasons related to its internal administrative practices and decisions, not because of the special situation in Iraq."
He added, "When ExxonMobil leaves, we will not accept that it be replaced by another American company," while he did not specify the name of the other companies.
Iraqi Oil Minister Ihsan Abdul-Jabbar said in a statement to Shafaq News Agency; In mid-April, the ministry began its discussions with major US companies to choose a company that would obtain the right to buy Exxon Mobil's stake in the West Qurna 1 field.
In January 2010, ExxonMobil signed an agreement with the South Oil Company, one of the Iraqi Oil Ministry companies, to rehabilitate and develop the West Qurna-1 field in southern Iraq.
The proven reserves of the field are 8.7 billion barrels, and West Qurna is one of the rewarding fields that major Western oil companies are looking for in the face of stagnation or decline in production.
Exxon said in a previous statement that it had entered into an agreement with PetroChina and the Chinese oil and gas giant to sell its stake in West Qurna in January 2021.
The statement also said that Exxon had filed an arbitration lawsuit against the Basra Oil Company over Exxon's sale of West Qurna's stake.
"The sale is in line with ExxonMobil's strategy to focus on premium assets at the lowest cost of supply, including developments in Guyana, Brazil and the US Permian Basin," the statement read.
Securing foreign investment is critical for Iraq, the second largest producer in the Organization of the Petroleum Exporting Countries (OPEC), with oil revenues representing at least 95% of Iraq's income.
An economist : American economic support .. motivating others to help Iraq out of its miserable reality
The economic expert, Hazem Hadi, confirmed that: The US economic support represents an incentive for others to help Iraq out of its miserable reality.
He told the National Iraqi News Agency ( NINA ) that: The withdrawal of the American combat forces has a positive impact on all levels, especially the economic ones.
Hadi added that: This matter will greatly contribute to motivating others to provide assistance and assistance to get Iraq out of this miserable reality and make it a positive regional hub.
He explained that: This support will create an economic development that will accelerate the development process in the country.
US President Joe Biden announced, during his meeting yesterday with Prime Minister Mustafa Al-Kazemi, the continuation of US support for Iraq in all fields.
SHORTAGE OF SUPPLY AND HIGH VACCINATION RATES RAISE OIL PRICES
Oil prices rose today, Tuesday, due to supply shortages and high vaccination rates, which will help offset any impact on demand due to the high cases of Corona virus infection around the world.
Brent crude futures rose 25 cents, or 0.33 percent, to $74.93 a barrel.
US West Texas Intermediate crude futures rose 20 cents, to $72.11 a barrel.
A White House official said that broader travel restrictions will not be lifted due to the highly contagious delta type and increasing local infections, and Britain reported its lowest daily total of new COVID-19 cases since July 4 until Monday, indicating that the recent increase in infections has passed its peak. .
Global oil markets are expected to remain in deficit despite the decision of the Organization of the Petroleum Exporting Countries and its allies, collectively known as OPEC+, to increase production through the end of the year.
CBI Update: Just a note:
including $11,320,000. CASH
Immunity of Central Bank of Iraq funds abroad
The legal authorities in the United States of America confirmed to the Governor of the Central Bank of Iraq that all the reserves and funds of the Central Bank of Iraq are fortified and that no party can seize them. They also confirmed that they will defend its immunity with the rest of the countries, and these reserves cannot be compromised.
As Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it prior to 2003, this will lead to the lifting of the international immunity for Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies.
In this context, those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.
Central Bank of Iraq
Media Office
27 July 2021
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
As Iraq will complete during the coming period the full payment of the compensation and benefits accrued from it prior to 2003, this will lead to the lifting of the international immunity for Iraq's money abroad and it will be subject to implementation by some creditors from other parties and companies.
In this context, those legal authorities confirmed that the funds and reserves of the Central Bank of Iraq are protected under the laws followed in the United States of America, and pledged to defend what is in the central banks and banks in other countries.
Media Office
27 July 2021
7-27-2021 Intel Guru Fleming Monday Night RV Report: Our military intel contact said that his info is that everyone behind the scenes is being told the shotgun start is any moment this week going forward...Iraqi PM Kadhimi (=Kazemi) and the Iraqi delegation are in meetings today in DC concerning Iraqi - USA economic and business agreements, security agreements and the reduction of US military presence in Iraq, and about Iraq being inducted into the WTO for which Iraq needs the new IQD RV rate that it has now and that is posted on Forex behind the scenes... [post 1 of 2....stay tuned]
7-26-2021 Newshound Guru Breitling Question: "Do the high oil prices help or hinder the revaluation" Iraq was pressured when oil prices down. They were being pressured and right now that pressure is not there but that hasn't stopped them at all.
7-26-2021 Newshound Guru Pimpy We all want to wake up one day and hear...they just announced it - We're gonna do 3 American dollars for one dinar. Will that happen? Yes it's possible. I'm not saying it's not...the United Nations/the United Security Council have all said the same thing - that when the value of the dinar was devalued it was at a rate of 3+ dollars. That's every 1 Iraqi dinar you exchanged you got 3 American dollars. And they said there's no reason for it not to go back to that rate...if I didn't have faith in it I wouldn't own it. [post 2 of 2]
7-26-2021 Newshound Guru Pimpy I can't promise there's going to be an RI or RV because nobody out there knows. That is the honest to God truth...Is it possible? Of course it is. Has it happened before in history? More than once...you don't have to watch for some magical announcement. We can pay attention to what's going on in the country, in their economy, in their stability...their commodities...geopolitics in the area...all contribute to the value of their currency... [post 1 of 2....stay tuned]
7-26-2021 Intel Guru MarkZ [via PDK] One of the key things to watch right now is the Iraqi Prime Minister Kazemi is in DC right now. Working on what? We are they are working on the implementation of business deals between the US and Iraq. Also some security issues and removal of some US troops. So watch today because Kazemi is in DC with members of his government cutting deals. Hopefully also talking about the release of the RV and the exchange of their currency.
7-26-2021 Intel Guru Holly Kazemi is to meet in Washington DC today. It is to be an announcement that they are part of the WTO (world trade organization). The USA is sponsoring them in. They need a rate change and an international currency…. Something big should be coming...
7-26-2021 Intel Guru Frank26 The Minister of Finance and the Minister of Planning and Saleh...they know. The citizens know. The international community knows - that a change is coming to both of these things - their currency and their exchange rate...
7-26-2021 Newshound/Intel Guru Mnt Goat ...the Finance Committee is telling us that the CBI plans to keep the rate of the dinar as it is until the end of the fiscal year which ends in December not October. Just because they want to have the next years budget completed and in parliament by October does not mean the fiscal year ends in October...So here we are once again with watching for the January 2022 release of the reinstatement...so we wait to see what happens. Remember this is the move opportune time to release the reinstatement. Can they get their act together by then?
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