Mountainman: Interesting "DATE" IRAN......Seems Your BROTHER in Business IRAQ also was "CELEBRATING" as WELL......Are YOU Guys SHARING from The SAME...."WELL"..........IMO
BACKDOC: REMEMBER, IRAN SAID THEY WOULD NOT RE-ENTER WITHOUT IRAQ!
COME ON DORTHY! CLICK YOUR RED SLIPPERS AND SING US A SONG!
THE MORE IRAN GETS DONE THE CLOSER WE ARE TO SEEING THE WIZARD!
I CHOOSE JOY! DOC IMO
Thunderhawk: Iran Post Bank re-connects to SWIFT
Managing Director of Iran Post Bank Khosro Farrahi said on Wednesday that the bank has been re-connected to Society of Worldwide Interbank Financial Telecommunication
The re-connection was made on Sunday February 14, he said.
The Brussels-based Swift facilitates exchange of financial transactions among world financial institutions.
After implementation of the Joint Comprehensive Plan of Action (JCPOA) Iran Post Bank took required and timely action to reconnect to SWIFT and the task was accomplished on February 14, he said.
Central Bank of Iran (CBI) allocated special code and password to reconnect Iran Post Bank to SWIFT on Sunday.
SWIFT is used by nearly every bank around the world to send payment messages that lead to the transfer of money across international borders.
It provides a wide range of service including transmitting letters of credit, payments and securities transactions among 9,700 banks in 209 countries.
A central theme of the sanctions was putting restrictions on Iran’s banking transactions with the international financial institutions through various mechanisms including shutting SWIFT services to the country.
However, it became off limits to Iranian banks in 2012 after the implementation of the US-led sanctions.
Accordingly, around 30 Iranian banks were blocked from using SWIFT services, literally cutting off Iran from the global banking system.
Hoot: backdoc i,m just a little confused ,,,,it is nice to see iraq and iran working together to make money,,,,,what happened to iran going global on the 18th ?is that still in play or is there a delay...
BACKDOC: REMEMBER THOSE WERE THEIR WORDS! AND TO SOME EXTENT WE SEE THAT UNFOLDING BEFORE OUR EYES! SOMETIME BETWEEN NOW AND MID YEAR ALL WILL BE COMPLETE. BE PATIENT FOR IT TO SHOW AND CHOOSE JOY! DOC IMO
Hoot: thank you sir....well it is not hard to see iran is more then ready.....here is to hoping that after the cbi gets done celebrating maybe they will make time to get there monetary reforms done and catch up with rest of the world....
BACKDOC: IRAQ IS NOT DONE BECAUSE ITS NOT THEIR TURN YET! SOON! SOON! DOC IMO
Mountainman: HOOT ........That's "THE POINT"=.....IRAQ can "CELEBRATE" because IRAN has ACCOMPLISHED sooo MUCH SINCE their "SANCTIONS" were Lifted On....WHAT???.....Yup..."IMPLEMENTATION DAY"....JANUARY 17,2016......and That "SET" the FRAMEWORK for "A LAUNCH"......"GLOBALLY"......In 1 MONTH......LOOK at "WHAT" IRAN has done......for THEIR TWIN=IRAQ.....BIG BROTHER/IRAN.....has got Your Back...In other WORDS= WHY??? THE US made "THE DEAL" w/IRAN.....IMO........(8)BALL CORNER POCKET!!!!!!!!.........LOL.....
Hope this BROADENS to WHAT DOC is telling You......IMO
Mountainman:WOW.....IRAN 5.5% GROWTH.....This YEAR......That's Almost 2 times That of the USA Meager Growth Last Year....You "MUST" be EXPECTING a MAJOR GLOBAL LAUNCH in More "TRADE and A VALUE"........IMO Blessings,Mountainman
Thunderhawk: General Electric Oil &Gas firm willing to develop business with Iran
President and CEO of General Electric Oil & Gas Company Lorenzo Simoneli in a meeting with Deputy Governor of Central Bank of Iran Akbar Komeijani said that the company is willing to develop business with Iran.
Simoneli said that GE has activities in many important industrial fields such as oil, gas, electricity, road construction, airplane and hospital equipment.
Komeijani said that Iran welcomes joint venture investment in oil, gas, mines industries, manufacturing sector and services for domestic consumption and possibility to export to regional markets.
He said that Iran's new government and the Central Bank of Iran are obliged to observe monetary and financial discipline in a bid to reduce inflation and increase growth rate of the national economy.
The Iranian official said that there is bright prospects for Iran's economy in year 2016 and that the International Monetary Fund (IMF) and the World Bank have anticipated growth around 5.5 percent.
Meanwhile, directors of foreign exchange department of CBI presented a report about foreign investment regulations and role of banking system to facilitate the joint venture investment.
The London-based GE Oil & Gas firm is originally an American company active in production of drilling equipment and oil refinery as well as manufacturing under-sea pumps.
During the sanctions, General Electric could receive authorization from US government to sell medical equipment to Iran.
BACKDOC: THE GLOBAL NEW REALITY SEEMS TO BE BRINGING US A NEW REALITY FAR BEYOND FINANCIAL!
WHEN UP SEEMS DOWN! AND DOWN SEEMS UP!
LIKE SNAGGLEPUSS WOULD SAY, EXIT STAGE LEFT! LOL DOC IMO
Thunderhawk: NATO Official says cooperation with Iran 'possible'
The North Atlantic Treaty Organization (NATO) does not exclude that its cooperation with Iran is possible in the future, NATO Secretary General’s Special Representative for the Caucasus and Central Asia James Appathurai, staying on visit in Azerbaijan, said .
According to Appathurai, the agreement with Iran regarding its nuclear program is a right step toward possible cooperation.
'We have received no indication from Iran, there are no discussions within NATO about establishing relations. I don't exclude that it might happen at some point in the future,' Appathurai said on Tuesday, as quoted by Azerbaijan's Trend News Agency.
In July 2015, Tehran and six international mediators — Russia, China, the United States, the United Kingdom, France and Germany — reached a historic deal on Iranian peaceful nuclear program, which is set to ensure the peaceful nature of Iran's nuclear program in exchange for the termination of anti-Tehran sanctions.
In mid-January, the sanctions were removed after the International Atomic Energy Agency verified Tehran’s compliance with the nuclear agreement. The move makes it possible for Iran to develop relations with different military-political and economic international entities and states, which have been frozen for decades.
Thunderhawk: HEY DOC IS THIS THE SNAGGLEPUSS YOUR TALKING ABOUT!!!! LOL –
BACKDOC: HEAVENS TO MERGATROID THATS HIM! EXIT! STAGE LEFT!
BACKDOC: IRAN WILL BE TO THE SILK ROAD WHAT IRAQ IS TO THE EMPIRE COUNTRIES!
LOOK FOR GREECE AND CATALONIA REGION IN SPAIN WITH BARCELONA TO JOIN THEIR PARTY!
THE TPP WILL EVENTUALLY FORCE THE "ALL FOR ONE AND ONE FOR ALL" DOC IMO
Mountainman: Yes DOC I Agree.....THE GLOBAL DECK is So STACKED Right NOW.....that a BABIES WHISPER could Cause ALL to FALL into PLACE.....IMO
Thunderhawk: Brazil to ditch dollar in trade exchange with Iran
Brazil will accept payment from Iran in euros and other currencies for planes, cars and machinery to sidestep lingering US sanctions on the oil-rich nation, Trade Minister Armando Monteiro said on Tuesday.
Monteiro is the first Brazilian official to confirm that Latin America's biggest economy could accept payment in other currencies including the euro from Iran, which is forbidden from using the US financial system under the sanctions.
Brazilian President Dilma Rousseff could visit Iran this year to bolster exports, he said.
'Everyone is racing after Iran now ... The trade potential is very big,' said Monteiro. 'We will find ways to settle payments, the type of payment and currency.'
Monteiro said Brazil aims to triple trade flows with Iran to $5 billion by 2019.
Rousseff lifted UN-imposed sanctions against the OPEC nation last week after meeting with the Iranian ambassador, hoping to bolster trade between the two nations, which have enjoyed warm ties for years despite tensions with the West.
Although it is not clear whether any attempt to circumvent the U.S. financial system could raise tensions with Washington, Brazil's leftist government in the past has annoyed the United States by drawing closer to Tehran.
BACKDOC: WITH THE SHENZENG AGREEMENT IN TATTERS FROM MIGRANT OVERLOAD, A BREXIT COULD BE A CURTAIN CALL FOR THE EURO! DOC IMO
Thunderhawk: Deputy FM to visit Spain on Thursday
Daily Diplomat writes that Iran's Deputy Foreign Minister for Euro-American Affairs Majid Takht-Ravanchi will visit Spain on Thursday for periodic diplomatic dialogue with Spanish officials on ways of consolidating bilateral ties.
Iranian and Spanish foreign ministry officials meet and confer with each other every six months to hold diplomatic talks.
Diplomat said periodic talks between Iranian and Spanish political officials indicates interest of the Spanish policy makers to boost ties with Tehran after the Vienna nuclear accord.
Mountainman: "HOLY OIL SPICKETS"......AGAIN....$ "OIL SWAPS" $...."COMPETITION IS A SIN" >>>>ROCKEFELLER said.....That's WHY??? "THEY" Created The FEDERAL RESERVE= Bankers were TIRED of BLOODYING each other OVER "COMPETITION" and so "THEY" DECIDED to *"COOPERATE"* and Make MONEY TOGETHER and "NOW" this is SAYING THE SAME "IDEAL"........
....But "NOW" In TERMS of "OIL" on A "GLOBAL SCALE" WHICH Means (ALL) COUNTRIES EVEN the USA "PETRO DOLLAR"........We KNEW The DEPEG would be REVEALED........ie: In "PUBLIC VIEW" and IMO......"THIS IS As "CLEAR" as We will "SEE IT" !!!!!!!!.........thus the "NEW GLOBAL REALITY "SWAPS" are "NOT" just in ONES DOLLARS/CURRENCY.....though the "PROFITS" will be "HUGE" !!!!!!!!......(8) BALL....CORNER POCKET!!!!!!!!......LOL
*NOTE*......READ REREAD and READ AGAIN.......TOO Much to "Cover" Right NOW!!!!!!!!....IMO.......but, WILL be "COVERED" SOON!!!!!!!! Blessings,Mountainman
Thunderhawk: *NOTE*....."READ CAREFULLY"........HUGE.....IMO.......MM
From OPEC to NOPEC
I asked Chris Cook, a Senior Research Fellow at University College London his view of the market
“For the two biggest global oil producers to 'freeze' production at record levels left the market unimpressed at best and unbelieving at worst. In the absence of significant coordinated production cuts the market price will fall to or even through $20/barrel and will not regain $50/barrel for years, if ever.”
If that is the case then, in my view, Saudi Arabia is in deep domestic trouble. Several observers believe that current military adventurism by the Saudis is due firstly to internal factional politics; secondly, that such nationalism serves as a possible means of distracting the population from the approaching end of a very privileged lifestyle; and thirdly, it is simply a means of preserving a measure of national dignity.
---Cooperation or competition?
I asked Mehdi Moslehi of Petro Scotland on options available to Iran in their relationship with Saudi Arabia and the oil market generally, and he said, “There is a very simple choice. Cooperation or Competition? There is a great deal of profit to be made from competition and conflict by a few, at the expense of the many. OPEC has been destroyed – aided and abetted by non-OPEC members producing flat out - by competition to sell oil as a commodity and the current 'race to the bottom'.”
But what form could energy cooperation take, I asked? And how may we get there?
Mr Cook explained: “We have seen how Saudi Arabia has maintained market share with the U.S. through a refining joint venture, at the expense of suppliers such as Nigeria in particular. They are exploring further joint refining ventures in China and elsewhere. Iran is rapidly reopening oil sale agreements with Europe, and these are aimed at achieving security of demand and re-establishment of market share, but this will necessarily be at the expense of others in the market.”
But surely this will make the market situation worse, not better?
“Of course. That is why the only solution is the creation – as President Rouhani suggested at Davos in 2014 – of new multilateral institutions for the oil market. An energy Bretton Woods-style conference or process is urgently necessary, involving both energy producers and consumer nations.”
Is this what you mean by cooperation? I asked Mr Moslehi.
“I envisage what is essentially a consortium of producer nations engaging & cooperating directly with a consortium of consumer nations: a Cooperative of Cooperatives if you like.”
But where would banks and oil companies fit in such a market model? I asked Mr Cook.
“Simply put, oil companies do not produce oil – they buy and sell it for a $ profit- while banks print dollar and euro claims over oil & gas – they cannot print the oil & gas itself. These middlemen, and their exchanges and banking systems created a monster which has built, controlled, and has now finally destroyed, the oil market as we have known it since 1973.”
Mr Moslehi, who is a noted expert in market networks and systems explained further. He said: “I believe that the direct instant connections of the internet are leading to a transition by middlemen such as these towards the provision of services instead.”
But surely these middlemen will resist this, I said. As they say in the U.S., why would turkeys vote for Christmas?
“You would think so”, replied Mr Moslehi, “But in fact service providers need very little financial capital for their operations, since they are essentially providing intellectual capital instead. So we are already seeing transformation by energy companies such as Schneider and E:ON away from a transaction model towards a service model”.
---Back to the future?
Mr Cook agreed with Mr Moslehi's view: “In fact, the future is visible in tried and tested models from the past. Those familiar with the world of shipping will know that there are certain risks that members of Lloyds of London – the principal global insurance market – will not take. Vessel owners – including Iranian owners - therefore formed associations known as Protection & Indemnity (P&I ) Clubs about 140 years ago to mutually assure these risks, and five years later appointed a service provider – Thomas Miller – the company which administers the clubs and manages the risks to this day.”
I observed that his sort of mutual risk assurance is well known in the Islamic world, and I asked Mr Moslehi if such mutual institutions might apply to the oil and gas market.
“Precisely. When we think of institutions, we think of organisations, such as OPEC, the Energy Charter Treaty organisation; World Trade Organisation and so on. Personally, I believe we have enough organisations as it is and do not need any more. What the oil market does need however, is not a new – OPEC 2.organisation - but agreements or protocols (there are numerous protocols in the world of Information Technology) which consist of mutual risk and production sharing agreements to a common purpose.”
What do you think of this? I asked Mr Cook.
“I have advocated just such global agreements & protocols for more than 15 years and I refer to the use of the P&I model in the energy markets as an 'Energy Clearing Union'. But unlike the Clearing Union unsuccessfully proposed by the great economist J M Keynes at Bretton Woods in 1944, this would not have a centrally issued currency, with organisations and bureaucracy like the World Bank and International Monetary Fund imposed by the U.S.”
---Iran and Saudi Arabia
What would your advice be to Iran in dealing with Saudi Arabia? I asked Mr Cook and Mr Moslehi. Mr Moslehi sees the situation very rationally and strategically.
“No matter what differences may exist in cultural, religious or ideological matters, there is always scope for cooperation in relation to the essential and deeply connected resources of energy and water. So while there will continue to be conflict in relation to upstream oil and gas sales, there is a shared common interest downstream in increased energy efficiency and new energy generation and distribution infrastructure.”
Mr Cook's advice was more specific. “Firstly, gas for oil swaps would make sense, whereby Iran would supply a flow of gas in exchange for a flow of Saudi oil, thereby reducing Saudi carbon intensity and maintaining gas production and use in the region, without wastefully shipping many thousands of kilometres at vast energy cost.
Secondly, there is the possibility, within a suitable neutral framework, of Energy Free Zones covering disputed joint fields and with gas to power generation on-site. The possibilities through the use of energy swaps and credits are endless.”
Finally, I asked whether we are now seeing a move from OPEC to NOPEC?
Both agreed, but pointed out that a valuable role potentially exists for OPEC as a founder and service provider of a new global energy market framework. Moreover, both considered that Iran, due to prolonged exclusion from the market, is uniquely well placed to lead a constructive initiative to create such a framework.
As an observer of Iran's domestic politics it is my earnest hope that a newly elected administration will be open to such constructive policy making, and that they will look forward to energy cooperation rather than back to energy competition and conflict. (Mahmoud Khaghani, Tehran Times)
Mountainman: "WATCH OUT" here....IMO......US MEDIA is DOUBLE SPEAKING here because they don't Want You to KNOW what's UNFOLDING w/OIL as it PERHAPS Helps "REPRICE"....The MARKETS.......IRAN "IS" on BOARD per previous Articles....IMO
Thunderhawk: WAY TO GO IRAN !!!
Oil prices climb as Iran endorses oil output cap
Crude futures rose in Asian trade on Thursday after Iran welcomed plans by Russia and Saudi Arabia to cap production, although analysts said the move would not lead to any output cuts and Tehran offered no action of its own.
After oil prices rose in the previous session as much 8 percent, commentators suggested markets had overreacted to Iran's support for the caps and said the Russian-Saudi move would not likely reduce the global surplus.
"I share the consensus view that producers' are unlikely to reach an agreement (on cuts), the rationale being the need to satisfy two conditions," said Ric Spooner, chief market analyst with Sydney's CMC Markets.
"First, any price gains must offset losses achieved from volume cuts - production cuts must be meaningful - sufficiently large to achieve a substantial price increase. And they will have to involve everybody - all the major (producer) players. That will be difficult to achieve," he said.
Brent futures added 42 cents to $34.92 a barrel by 0409 GMT, having closed 7.2 percent higher in the previous session after hitting an intraday high of $34.99.
U.S. crude rose 60 cents to $31.26 a barrel, having finished 5.6 percent higher in the previous session after touching a high $31.49.
Oil prices would likely remain volatile, Spooner said, as traders and investors reacted to news and rumours about curbs on output growth and possible cuts in production.
Iranian Oil Minister Bijan Zanganeh met counterparts from Venezuela, Iraq and Qatar on Wednesday but did not say if Iran would cap its output in keeping with the move by Russia, Saudi Arabia and Iraq.
"The agreement will do little to reduce the current supply glut," BMI Research said in a note on Thursday.
A rebalancing in supply and demand is more likely in the second half of 2016, BMI said.
Iran's OPEC envoy Mehdi Asali said it was "illogical" to ask Iran to freeze production levels in comments to the Shargh daily newspaper before the talks on Wednesday.
Iran exported around 2.5 million barrels per day (bpd) of crude before 2012, but sanctions, imposed by world powers to curb Tehran's nuclear programme, cut its oil shipments to about 1.1 million bpd.
The sanctions were lifted last month, allowing Iran to resume selling oil freely in international markets.
Oil prices also gained support after U.S. crude stocks unexpectedly fell by 3.3 million barrels last week to 499.1 million, data from the American Petroleum Institute showed on Wednesday.
"We continue to eye crude production and would think that it should start to decrease. Should this happen, we would think that this could be the start of U.S. production cuts due to low oil prices," Singapore's Phillip Futures said in a note.
Analysts had expected crude inventories to climb by 3.9 million barrels in the week to Feb. 12, according to a Reuters poll on Tuesday.
Oil prices may gain further direction when the Department of Energy's Energy Information Administration releases official oil inventory data later on Thursday
Thunderhawk: GOOD NIGHT FAMILY WE WILL BE BACK