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I was merely pointing out that what Spondylitis labeled as a not important amount was, over a year, a significant amount, I didn't claim that there would be such income.
15 X 55,000 (on full production) x 360 = 297,000,000 gross, a mere puddle 🤣
🤷🏻 Rudaw
Two trillion dinars of petrodollars have not been spent
12 hours ago
Hastyar Qadir
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Rudaw Digital
"A tripartite committee has been formed to determine the criteria for spending the money," a member of the Iraqi parliament's finance committee said.
The Iraqi Ministry of Finance has issued instructions for the payment of the 2023 budget since August 7, 2023, but the petrodollar budget has not yet been paid to the oil and gas producing provinces.
According to the Iraqi budget law, each region and province that produces oil and natural gas can receive 5% of the revenue from one of the two energy sources.
Narmin Ma'roof, a member of the Iraqi parliament's finance committee, told Rudaw that the petrodollar budget has not been spent yet, although the amount is two trillion dinars.
Narmin Ma'roof said the Ministry of Finance's excuse for not spending the petrodollars, not determining the criteria for how to spend. A committee has been formed between the Ministry of Finance, Planning and the Financial Supervision Bureau to determine these criteria.
According to the Iraqi budget law, 3.5 million barrels of oil must be exported daily to finance the general budget of about 200 trillion dinars, including the 400,000 barrels of oil that the Kurdistan Region will hand over to Baghdad.
"Petrodollars also include the Kurdistan Region, which is the share of oil and gas production and the products of its refineries," she said.
According to the Ministry of Finance's guidelines for spending budget money, producing regions and provinces can spend up to 50% of petrodollars to import electricity, provide services to the governors, cleaning and treatment of patients inside and outside Iraq.
Shhhh, you'll wake them up 👀
From ADVFN
I don't think he has any commitment at all, but is doing his usual duck and dive routine, but he can't get away from international pressure or the water shortage, pressure building......
Iraqi PM Sudani met with Turkey's Energy and Natural Resources Minister Alparsalan Bayraktar to discuss enhancing energy cooperation between Iraq and Turkey in which he highlighted the Iraqi government's "commitment to resuming oil exports".
- The Turkish minister underscored the significance Erdogan places on the Development Road project, noting Iraq's strategic importance not only to Turkey but also to European countries, particularly in the realm of energy and the extensive investment prospects in the global gas market.
11:54 AM · Nov 24, 2023
That the SP is holding pretty steady over the last 5 days, even though shorts are increasing 🤔
He's getting it from all sides now, be interesting to see who blinks first 👀
I'm liking the amount of focus now on the dispute between Baghdad and Ebril, previously it's been hidden behind a smokescreen of Turkey and the fine dispute, which they appear to have shelved to sort out ongoing, both PM's are now very under the spotlight and there's little room for offloading blame now.
⭐
Crikey =:
https://www.youtube.com/live/81o4tenkv7q? about an hour in oil is mentioned, "the problem is now political, if the strait of hormuz was closed (because of gaza) an agreement would be found overnight, i can't see why they can't do that now" people on the periphery are getting really ****ed.
From another board.
Kurdistan Regional Government
@Kurdistan
·
11m
PM
@masrourbarzani
: The #KRG has signed contracts with IOCs. This is a right the #KRG has and we are not going to give that right up. We are in talks with Prime Minister
@mohamedshia and the Ministry of Oil.
Masrour Barzani
@masrourbarzani
Iraq giveth, and Iraq taketh away 🤔
https://shafaq.com/en/Iraq-News/Parliament-pospones-General-Amnesty-and-Oil-Gas-Laws-to-Next-Legislative-Year
Shafaq News / The Parliamentary Legal Committee announced on Sunday the postponement of the readings and approval of the General Amnesty and Oil & Gas laws to the next legislative year.
Ahmed Fawaz, a committee member, informed Shafaq News Agency, "the General Amnesty and Oil & Gas laws are significant legislations requiring political consensus and agreement before being added to the Parliament's agenda."
He clarified that "the General Amnesty law needs an environment within the Parliamentary Legal Committee for its members to approve it before sending it to the Presidency of the Parliament to be included in the legislative agenda."
Fawaz further explained, stating, "the current timeframe does not allow the Parliament to approve the General Amnesty law due to the Parliament's commitment to the legislative break. Hence, the discussion and approval of the General Amnesty, Oil & Gas, and other laws will be deferred to the new legislative session of the upcoming legislative year."
Https://shafaq.com/en/Iraq-News/PM-Al-Sudani-heads-meeting-on-Iraq-s-oil-sector-development
2023-11-19 11:50
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Shafaq News / Prime Minister Mohammed Shia Al Sudani chaired the periodic meeting on Sunday to oversee the Oil Ministry and its projects, focusing on implementing plans aimed at developing Iraq's oil sector.
Attended by the Oil Minister, senior officials from the ministry, and advisors to the Prime Minister for oil and energy affairs, the meeting reviewed extraction and distribution projects, export initiatives, gas projects, refineries, progress rates, and obstacles hindering implementation. Additionally, it discussed investment opportunities announced by the ministry for 2023.
The Prime Minister stressed the vital importance of enhancing this pivotal sector, given its linkage to national plans and desired development. He highlighted the significance of utilizing the increased global oil prices to boost financial allocations through optimal oil and gas investments.
Al Sudani emphasized that oil constitutes the primary income source, and the government is focused on developing the oil sector along with other industries such as chemicals, petrochemicals, and fertilizers, per its governmental program. Moreover, efforts extend to improving the electricity sector, implementing an integrated energy projects plan, and ensuring continued support through solutions, policies, and decisions.
During the meeting, Al Sudani was briefed on the discussions between the federal Oil Ministry and the Natural Resources Ministry in the Kurdistan Regional Government (KRG) regarding resuming crude oil re-exports via the Turkish port of Ceyhan
"A really interesting article well worth a read"
OPEC may or may not cut output (a headline rolled out ever two weeks) and a load of filler information we already know, well that's 5 minutes I will never get back.
And of course, the idiots on both sides of the government are doing what they do best, not living on the same planet as everyone else. Good to see APIKUR playing hardball and not being bullied into agreements, are they drawing a firm line in the sand or sabre rattling to make sure the deal is good enough???
● Any addendums must be agreed between the GOI, the KRG, and APIKUR member companies.
● There must be payment surety for past and future oil exports.
● Prospective oil sale payments to APIKUR member companies must be remitted directly to those companies.
● The APIKUR member companies' current commercial terms and economic model must be maintained.
APIKUR remains committed to swiftly resolve remaining issues to resume full production and export through ITP for the benefit of all parties and the people of Iraq. Under the status quo, losses continue to climb with more than $7 billion in export revenue lost since the pipeline closure in March 2023. The GOI is incurring over $1 million per day in financial penalties for not meeting its obligations under the ITP agreement.
- Ends -
Still kicking a$$
November 17, 2023
Key Points:
● APIKUR notes the discussions between GOI and KRG officials represent a potentially positive step toward resumption of full production and exports.
● APIKUR members have communicated conditions precedent to resume full oil exports and remain committed to resolve outstanding issues.
● Production Sharing Contracts (PSCs) remain in-force and are governed by English law with dispute resolution via international arbitration at the London Court of International Arbitration.
APIKUR notes the recent discussions between leaders from the GOI and KRG as a potentially positive step towards resuming oil exports via the Iraq-Türkiye Pipeline (ITP).
Representatives from APIKUR member companies were not invited and have not received any official communications of the meeting’s outcomes.
APIKUR members have communicated the following conditions precedent to resume full oil production and exports:
ht tps:// ****/ polylondon without the spaces, download the telegram app and search the above.
From ADVFN
Thomas Seiler
@EUAmbIraq
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A very good day for Iraq and the EU: Iraq has become member of the European Bank for Reconstruction and Development (EBRD). It means, Iraq can apply for the Bank's finance and policy support to develop Iraq's economy further, above all the private sector.