WOTS TUE JAN 11 2022
Invitation to the new parliament to take care of economic laws
These are the articles I discussed on the My FX Buddies Podcast:
exchange rate
Sovereign funds are a requirement for the next stage
Invitation to the new parliament to take care of economic laws
Iraq calls for hydrocarbon explorations for marine patches in the Gulf
The Iraqi National Oil Company called today, Tuesday, to expedite the implementation of the development of offshore hydrocarbon exploration blocks in the Gulf.
This came in a statement by the head of the National Oil Company and Minister of Oil Ihsan Abdul-Jabbar on the sidelines of his attendance at the workshop on studying plans for developing offshore blocks, which was organized by the Oil Exploration Company in cooperation with the Chinese company CNOC.
"It is necessary to expedite the exploration operations and conduct seismic surveys of the marine patch in the Gulf after completing all necessary procedures for maritime work with the concerned authorities," Abdul-Jabbar said in a statement received by Shafak News Agency.
He added, "It is necessary to start work procedures according to the study presented and to determine the points of exploration work in the offshore part of the patch carried out by the Chinese company (Cinoc), in addition to expediting the work of seismic surveys for the land part carried out by the Oil Exploration Company," noting that "the operations of Exploration and development of hydrocarbon patches supports the ministry’s plans to increase and sustain national production, especially that the national oil is working to intensify offshore exploration activity.
For his part, Director General of the Oil Exploration Agency, Basem Muhammad Khudair, said that "exploration operations in the offshore patch, in its marine and land parts, will be through conducting seismic surveys, after which an exploratory well will be drilled in the offshore part, and an exploratory well in the land part."
While the representative of the Chinese company Cinoc (Vincent Xie) confirmed that the agreement concluded with Iraq is an agreement for a joint study on the marine exploration patch with its marine and land parts, which is the beginning of building joint relations between the company and Iraq.
He noted that "the study that was reviewed during the workshop consists of two parts, the first marine and will be carried out by (CNOOC), and the second on land, which will be carried out by the Oil Exploration Company," stressing that "there is a joint working team from both sides to achieve the study and reach fruitful results."
In the year 2021, several meetings were held with the Chinese company to resume work on the study, and the area covers an area of 650 km2, including the land part with an area of 120 km2 and the marine part with an area of 530 km2.
An Iraqi-Chinese agreement to start oil exploration in the offshore patch of the Gulf
The Ministry of Oil announced, on Tuesday, the start of oil exploration in the offshore patch of the Gulf.
And the ministry stated in a statement that "Nass" received a copy of it (January 11, 2022), that "Minister Ihsan Abdul-Jabbar Ismail stressed the need to start work procedures according to the study presented and to identify points of exploration work in the offshore part of the patch carried out by the Chinese company CINOC, in addition to Accelerating the work of seismic surveys of the land part carried out by the Oil Exploration Company,” noting that “the exploration and development of hydrocarbon patches supports the ministry’s plans to increase and sustain national production, especially since the national oil is working to intensify marine exploration activity.”
The Director General of the Oil Exploration Agency, Basem Muhammad Khudair, said that "exploration operations in the offshore patch, in its marine and land parts, will be through conducting seismic surveys, after which an exploratory well will be drilled in the offshore part and an exploratory well in the land part."
For his part, the representative of the Chinese company Cinoc (Vincent Xie) said that "the agreement concluded with Iraq is an agreement for a joint study on the offshore exploratory patch in its marine and land parts, and it is the beginning of building joint relations between the company and Iraq," noting that "the study reviewed during the workshop is a phrase The first part is offshore, which will be implemented by Cinoc, and the second part is onshore, which will be implemented by the Oil Exploration Company.
He also stressed "the existence of a joint working team on both sides to achieve the study and reach fruitful results."
While the Assistant Director-General for Technical Affairs of the Oil Exploration Company, Osama Raouf, indicated that "the workshop was held to discuss the study of Cinoc on the development of the offshore Gulf region based on a joint study agreement signed in early 2019 and part of the agreement's work was delayed due to the health conditions in the world and the outbreak of the Corona pandemic. And in 2021, several meetings were held with the Chinese company, and they were fruitful to resume work on the study, noting that the area covers an area of 650 km2, the land part has an area of 120 km2, and the marine area is 530 km2, and upon completion of the work of two-dimensional seismic surveys by the exploration company in the land part. And Cinoc Company for the offshore part will drill an exploratory well in each part," explaining that "the Marine Sciences Center at the University of Basra will (in the offshore part) this year identify the locations of marine sinks in preparation for conducting seismic surveys."
information Office
January 11, 2022
In a last attempt to bridge the views between the current and the framework... A high-ranking Iranian delegation visited Baghdad yesterday and returned angry and upset!
A well-informed political source revealed, on Monday, the visit of a high-ranking Iranian diplomatic delegation, which included diplomatic and security figures from the Revolutionary Guards, to the capital, Baghdad, for the purpose of converging views between the coordination framework and the leader of the Sadrist movement, Muqtada al-Sadr, and unifying them in a bloc that constitutes the most number in the Iraqi parliament.
The source explained, "The Iranian delegation left the Iraqi capital, Baghdad, angry and upset, after failing to bring the two sides closer together."
The source revealed, "Al-Sadr remained insistent on removing the leader of the State of Law coalition, Nuri al-Maliki, from the alliance between the framework and the current, and this was rejected by the framework, which stressed the importance of an alliance of all his forces with the Sadrist bloc."
He added, "The failure to reach a solution between the two parties, and Sadr's desire to isolate al-Maliki from the Shiite political house, greatly disturbed the Iranian delegation."
Al-Rasheed directs his branches to sell “construction” bonds to citizens with interest to be paid every six months
Al-Rasheed Bank announced the resumption of work by receiving the purchase of {building bonds / second issue} from the public.
And the media office of the bank called on the agency {Euphrates News} received a copy of it, “those wishing to purchase should review the bank’s branches in Baghdad and the provinces.”
He added, “The instructions set the value of the bond at 500 thousand at 6% interest paid to the customer every six months for a period of two years, and a bond in the amount of one million dinars with an interest of 7% paid every six months for a period of four years.”
Economist: Changing The Dinar Exchange Rate Is “Unthoughtful” And Returning To The Previous Rate Is Difficult
An economic expert confirmed, today, Monday, that changing the exchange rate of the dinar against the dollar was ill-considered and unrelated to reality, while he expected the exchange rate to reach 1300 dinars per dollar.
The economic expert, Majed Hantoush, told Earth News, "The decision to raise the value of the dollar against the Iraqi dinar was taken at the end of the year 2020, and explained that it was taken based on the existence of an economic study from several axes to revitalize agriculture and the economy and stop currency smuggling, and that there will be a positive impact of this change after five years." years, but these are things that have nothing to do with the economic reality, but they appeared with government statements.”
He added that "the culture of the Iraqi economy is still governmental and not realistic," noting that "oil prices have begun to recover, and the Iraqi street is suffering from this decision, which raised the poverty rate to 30 percent, due to the high prices in the market."
He stressed that "people who spoke positively about the decision previously, including government advisers, and after loud cries against the decision, began talking about the possibility of reversing the decision with the improvement of oil prices, and this indicates the lack of a real study."
He pointed out that "it is difficult to return to the previous price, as this is not possible, and in the future it may reach 1300-1350 dinars per dollar."
It is noteworthy that the government announced a change in the exchange rate of the dinar against the dollar in December 2020, and it included the new rate in last year’s budget, and it was approved by Parliament.
Al-Halbousi receives a telegram from Plasschaert and his media office reveals its content
Demanding job opportunities.. Dhi Qar.. Angry protesters close the governorate building for the second day
Angry graduates closed for the second day in a row the local government office in Dhi Qar and cut off the main road leading to the aforementioned building with burning tires, in protest against the spread of unemployment among the graduates and demanding the provision of suitable job opportunities.
Demonstrations and demand activities were renewed in front of the Dhi Qar governorate building, as hundreds of graduates of law faculties and technical institutes and the unemployed gathered in front of the governorate office to demand job opportunities for graduates, while a number of them resorted to cutting Imam Ali Street, which is the main road leading to the governorate building, in a new escalation for their protest activities.
An employee of the Diwan of Dhi Qar Governorate told (Al-Mada), that "hundreds of graduates of law colleges and technical institutes demanding appointments cut off Imam Ali Street with burnt tires, which prevented the affiliates from reaching the governorate office," noting that "the closure of the office of the governorate building continues." For the second day in a row.
Alumni associations had earlier called for an open sit-in in front of the Dhi Qar governorate building to demand appointment in government institutions, as about a thousand graduates have been participating in the aforementioned sit-in for more than three months.
Demonstrator Ahmed Hamid, one of the Law College graduates, told Al-Mada that "hundreds of graduates of the College of Law and technical institutes escalated their demand activities after they saw a lack of response from the central government towards their legitimate demands for appointment," noting that "most of the graduates, especially graduates of Law colleges and technical institutes have become among the marginalized groups with appointments, as the central appointments did not include them like other graduates.”
Hamid pointed out that “law colleges and technical institutes graduate thousands of students annually to be added to the army of the unemployed,” calling for “securing suitable job opportunities for graduates who are now suffering from destitution, hardship and poor economic conditions.”
Demonstrators demanding appointments in Dhi Qar often resort to sit-in in front of government departments and institutions and close vital institutions such as oil and production companies and decision-making departments in order to pressure and expedite the implementation of their demands. Al-Gharraf and Nasiriyah several times, after which the governorate administration and the aforementioned institutions acquiesced to implement many of the demands of the protesters, which motivated other groups of the unemployed to repeat the activities of their colleagues in this field.
For his part, an observer believes that the method of distributing the available appointment opportunities in government departments lacks justice, and that the appointments are released under pressure from the street, not to mention nepotism, nepotism and party loyalties. Noting that "the government has announced for several years that there are no opportunities for appointment in the federal budget, but as soon as street pressure intensifies and violence escalates in demand demonstrations, and a number of victims fall, it accelerates the release of lists of appointments for demonstrators and others."
He pointed out that "these lists are often stuffed with additional names that are not related to the demonstrators, but are relatives of officials, followers of partisan parties and other influential parties influencing the government's decision." While party followers and relatives of officials enjoy these opportunities a few months after their graduation, noting that “the differentiation between a graduate and another according to party loyalty, nepotism and affiliation is a flagrant violation of all values and a clear violation of the right to work guaranteed by the constitution.”
On the other hand, hundreds of residents of Al-Fuhud district renewed their demonstrations in front of the governor's building to demand the dismissal of the governor and protest against the deterioration of the reality of services, waving to escalate if their demands were not met. The people of Al-Fuhud district have been demonstrating for more than a month, and sometimes resort to blocking the main road to pressure towards implementing their aforementioned demands.
Dhi Qar Governorate, which has a population of more than two million people and includes 20 administrative units, 10 of which are adjacent to the marsh areas, faces a growing problem of high unemployment rates, especially among graduates, as unemployment rates are estimated at more than 40 percent among the aforementioned segment, while residential areas and neighborhoods suffer from a shortage Severe basic services, deterioration and aging infrastructure, not to mention a clinical deficit in government hospitals estimated at more than 4,000 beds, and a deficit in school buildings estimated at more than 700 buildings, while residential areas served by sewage networks constitute only less than 30% of the mentioned areas, while the electricity sector suffers From the obsolescence of transmission lines, networks, stations and secondary transformers, which no longer accommodate the growing loads and face the risks of melting or exploding transformers, and there are still dozens of villages not served by water and electricity, not to mention the suffering of the local population from water scarcity during the summer and the increase and expansion of neighborhoods(Al-Hawasem) and overrun areas on public property.
The Presidency of the Republic refers members of the House of Representatives in its fourth session to retirement (document)
Today, Tuesday, the Presidency of the Republic issued a republican decree to retire the members of the House of Representatives in its fourth session.
According to a document, the President of the Republic issued a republican decree to retire the members of the House of Representatives in its fourth session, calling on the Ministry of Finance to implement it.
The House of Representatives voted, last Sunday of this week, to assign Muhammad al-Halbousi the position of speaker of the new parliament, Hakim al-Zamili as first deputy and Shakhwan Abdullah as second vice president.
Below here is the WOTS report for January 11, 2022:
Publishes the dollar exchange rate on the local stock exchange for Tuesday, (January 11, 2022), according to the monitoring of specialists.
Baghdad - the stock exchange
148,050
....
The price is in most Baghdad exchanges
Purchase
147,500
sale
148,500
————————
Erbil - Bursa
148,150
————————
Basra - Bursa
148,050
————————
Mosul - Bursa
148,150
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Oil resumes rising with renewed risk appetite and supply scarcity
Oil prices rose on Tuesday, after two days of losses as some risk appetite returned and some oil producers continued to struggle to increase production.
Brent crude futures rose 46 cents, or 0.57 percent, to $81.31 a barrel at 0523 GMT, after falling 1 percent in the previous session.
West Texas Intermediate crude futures rose 57 cents, or 0.73%, to $78.80 a barrel, after falling 0.8% on Monday.
The drop in oil prices over the previous two cycles was driven by concerns about a rise in COVID-19 cases worldwide which could lead to lower demand for fuel.
But analysts pointed out that the lack of supply from the Organization of the Petroleum Exporting Countries, OPEC +, is not keeping pace with demand and supporting prices.
Analysts pointed out that the OPEC supply additions are less than the increase allowed under the OPEC + agreement, as some countries, including Nigeria, do not produce the agreed quantities.
An Iraqi-Chinese agreement to start oil exploration in the offshore patch of the Gulf
The Ministry of Oil announced, on Tuesday, the start of oil exploration in the offshore patch of the Gulf.
And the ministry stated in a statement that "Nass" received a copy of it (January 11, 2022), that "Minister Ihsan Abdul-Jabbar Ismail stressed the need to start work procedures according to the study presented and to identify points of exploration work in the offshore part of the patch carried out by the Chinese company CINOC, in addition to Accelerating the work of seismic surveys of the land part carried out by the Oil Exploration Company,” noting that “the exploration and development of hydrocarbon patches supports the ministry’s plans to increase and sustain national production, especially since the national oil is working to intensify marine exploration activity.”
The Director General of the Oil Exploration Agency, Basem Muhammad Khudair, said that "exploration operations in the offshore patch, in its marine and land parts, will be through conducting seismic surveys, after which an exploratory well will be drilled in the offshore part and an exploratory well in the land part."
For his part, the representative of the Chinese company Cinoc (Vincent Xie) said that "the agreement concluded with Iraq is an agreement for a joint study on the offshore exploratory patch in its marine and land parts, and it is the beginning of building joint relations between the company and Iraq," noting that "the study reviewed during the workshop is a phrase The first part is offshore, which will be implemented by Cinoc, and the second part is onshore, which will be implemented by the Oil Exploration Company.
He also stressed "the existence of a joint working team on both sides to achieve the study and reach fruitful results."
While the Assistant Director-General for Technical Affairs of the Oil Exploration Company, Osama Raouf, indicated that "the workshop was held to discuss the study of Cinoc on the development of the offshore Gulf region based on a joint study agreement signed in early 2019 and part of the agreement's work was delayed due to the health conditions in the world and the outbreak of the Corona pandemic. And in 2021, several meetings were held with the Chinese company, and they were fruitful to resume work on the study, noting that the area covers an area of 650 km2, the land part has an area of 120 km2, and the marine area is 530 km2, and upon completion of the work of two-dimensional seismic surveys by the exploration company in the land part. And Cinoc Company for the offshore part will drill an exploratory well in each part," explaining that "the Marine Sciences Center at the University of Basra will (in the offshore part) this year identify the locations of marine sinks in preparation for conducting seismic surveys."
information Office
January 11, 2022
Invitation to the new parliament to take care of economic laws
CBI Update: Just a note:
including $81,380,000. CASH
ISX Update: Shares Traded: not updated for todayValue Traded: not updated for today
1-10-2022 Newshound Guru Vital Brad The idea behind getting the Iraqi dinar now is that it's cheap. It's very inexpensive...Then the question comes, 'When it does revalue, what do we do with this? Where do we take it because banks right now don't accept this. So you can't go down to your local bank...it's not on the international trading market... Question: "when it revalues will it be?" Exactly. "So you have to wait till it revalues then you can go down to your bank?" Just go to a place that accepts the currency Iraqi dinar. IQD is the code...
1-10-2022 Intel Guru MarkZ [via PDK] [Saw...that Dr Shabibi passed away on 9th.] ...it’s a sad day that he did not get to see this RV over the finish line. He is the architect of this RV…but his passing does not in any way affect the outcome. I just think it’s sad that he did not get to see the fruition of his life’s work.
1-10-2022 Newshound Guru Kaperoni Article quote: "Iraq's new parliament elects Sunni lawmaker Mohammed al-Halbousi as speaker, marking an important step towards establishing a new government.."
1-10-2022 Newshound Guru Sandy Ingram The world bank reports that over the last decade Iraq's oil revenues have amounted for more than 99% of exports and 85% of the government's budget and 42% of the GDP. Based on the World Bank's recommendation when the country provides a higher percentage of income and jobs outside of the oil then we can look for a possible float in the Iraqi dinar...
1-10-2022 Intel Guru MarkZ [via PDK] [So, they are kicking the can again?] I do not believe they are kicking the can. This is being done in a slow methodical process and we are in the middle of it. I think we are just more worried about them getting money to us then they are.
1-10-2022 Intel Guru Frank26 ...things are moving extremely fast. A change can be posted instantly by the CBI and the government because of the way they have set the education up with the citizens right now. The billboards are ready to run because they are electronic. The float is extremely important. It'll follow right after this phase. It has to right away to take advantage of the 1 to 1 rate...
1-10-2022 Newshound Guru Pimpy Article: "Unanimously... 'Progress' and 'Azm' choose Al-Halbousi as a candidate for the Presidency of Parliament" This should go quickly - If they've already unanimously voted in Halbousi. He'll be speaker, you have your two lieutenants and then from there they will vote on the President of the Republic of Iraq. I'm anticipating that the winner will be Salih...nothing can be accomplished until the new government is established and in place...a big hurdle was just passed now we're going to see what it leads to...
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