Post From BondLadys Corner
BondLady & Tlm724 News & Comments 6-9-16 Part 1 of 3
4.5 million barrels per day, Iraq's production in May
June 9, 2016 10:10 Oil exports to America have tripled since January last
Remove Iraq from the daily production of oil to its highest level ever even reached 4.5 million barrels per day in May, according to estimates by research «JBC» energy company, is it up to a hundred thousand barrels per day compared to last Nissan, also it helps to fill the void caused by the big outages in Nigeria and Canada. Moreover, this level is the highest , including approximately two million barrels per day , compared with Iraq 's production by the year 2003.
He said Julius Walker, senior adviser in the research «JBC» Energy company: «Iraq has achieved great success in increasing the volume of production, despite all the political and security issues continuing ». Most of this oil is flowing into the United States, as the Iraqi oil imports to the United States have tripled since last January and is now at its highest level since July 2014, according to data «ClipperData» Foundation , which provides oil flow information in the market.
Quoting the site of «CNN» news, I wrote Halima Croft, head of strategic goods in the investment Bank of Canada «RBC Capital Marquette», in a recent report: «with the prospect of warmer political heat this summer, the government has already strengthened the security situation around the southern oil installations» .
of course, the Iraqi military progress in Fallujah do not be possible without the oil revenues, which according to the international Monetary Fund to be 94 per cent of federal revenues in Iraq in 2014. but these days, oil constitutes 99 per cent of Iraq 's exports and nearly 90 per cent of total federal revenues, according to the Institute «Brookings».
said Mike Wittner, head of oil research at Bank of «Societe Generale» French: «every barrel helps, there 's not much to Iraq is oil, it relies upon heavily».
but a bit complicated situation, since the state is not only the need to sell huge quantities of oil to pay for the defense budget, but they also need to be security forces to protect the golden goose, the oil revenues.
He said Wittner: «oil financed everything, including security forces private (securing oil), each one depends on the other ».
and not the security situation is all that hinders oil production, but there is also a dispute between Baghdad and the Kurdistan Regional Government on how to divide oil revenues, which the Bank of « Societe Generale »French estimated that hurt oil production Iraq 's estimated 100 to 150 thousand barrels per day.
at the beginning of last May, said the spokesman of the oil Ministry , Assem Jihad, that according to preliminary statistics released by the oil marketing company «Sumo», the total volume of oil exports for the month of May from Central and South fields amounted Aktrmen 99 million and 205,367 barrels.
He added that fiscal revenue rose for the month compared with the previous months of this year, reaching more than $ 3 billion and 745.268 million dollars, adding that the price per barrel average of $ 37,753.
He continued jihad that daily exports averaged 3.2 million barrels, while not issued the northern port of Ceyhan via the company (SOMO) because of the province 's commitment to the oil agreement with the federal government.
Bondlady this is so important and significant for Iraq....during saddams peak of exporting oil...his top was 3 millon barrels of oil per day...with a dinar exchange rate at that time was approximately 3 to 1. 3$ to 1 dinar Wink ... granted the oil prices was a lil higher then but there over 50$ a barrel now,
plus they no longer waste, burn off the gas now, they export it ....another Smile ..atta boy lol .... the reforms are so important.. to set Iraq back on the correct path for economic success..imo
Parliamentary: exempt banks managers without clearance chance to escape
09/06/2016 12:38 | Direction Press / Baghdad It described the MP high Nassif reform front, Thursday, exempting banks managers (commercial, industrial, agricultural and Iraq) without requiring them to provide a clearance to justice and fairness that is a big mistake and an opportunity for them to evade accountability.
Nassif said in a statement received "direction Press" a copy of it from him that "most of the managers of these banks had hoped to be relieved of office to carry out their skin and enjoy what Achtlsuh of money, if one of them decided to leave his personal decision to raised questions about the reasons for leaving office, in while their escape will be much easier if was removed from office by the high hand, it has been made literal translation. "
It showed that "the correct procedure, which must be accompanied by dismissing the decision is asking them to provide a clearance to the judiciary and the Integrity Commission include disclosure of their financial interests and property and their assets, particularly with regard to the commercial bank, which raised around corrupted files and give loans without guarantees."
And it demanded an MP for the Reform "Front prime minister to force these managers to provide clearance and instruct the authorities concerned to follow up their files at the highest levels, in order not to remain reward of Ministers, agents and general managers who seem to suspect corruption Baqalthm and give them a chance to escape."
And he announced the Prime Minister Haider al - Abadi, Tuesday (June 7, 2016), for a number of banks appoint directors to succeed former managers, explaining that he comes within the reform program.
[tlm724] "most of the managers of these banks had hoped to be relieved of office to carry out their skin and enjoy what Achtlsuh of money, if one of them decided to leave his personal decision to raised questions about the reasons for leaving office
[tlm724] demanded an MP for the Reform "Front prime minister to force these managers to provide clearance and instruct the authorities concerned to follow up their files at the highest levels
[tlm724] she has a good point
[tlm724] ya can't just fire them you have to hold them accountable and take their passport while your at it
Consultant Abadi: Currency market focus monopolistic central policy weighed on the dollar cut
09/06/2016 01:05 | Direction Press / Baghdad The prime minister of financial affairs adviser to the appearance of Mohammed Saleh, Thursday, that the focus of the currency market monopoly, noting that recent central policy weighed on the dollar cut.[/size]
Saleh said in a press interview: the central bank has the ability to maneuver in the market as a supporter and provider of foreign currency, "noting that" the bank can maneuver and manages the rules of the game properly and provide adequate view of the foreign currency. "
Saleh added that " the Bank 's recent decision on empowering citizens to take the difference of it and is suing themarket institutions that conflicts at the expense of price is an intelligent , " adding that "there is a focus monopolistic big in the currency market."
Saleh continued that "a bank the latest shock in market by addressing the monopoly and speculation and left after it cut through the exchange rates , "explaining that" the central bank 's large and able to deal with the monopoly and speculation that occur in the market Foundation. "
He called on the Iraqi Central Bank, on 6 June , the current citizens and merchants who pay more than 1200 dinars for the dollar , which they purchased from banks or remittance companies to submit a complaint to him, at the time saw the dollar exchange rate gradually decrease after this decision amounted to 1260 per dollar , compared to 1300 to the dollar before the issuance of the decision.
[tlm724] the central bank has the ability to maneuver in the market as a supporter and provider of foreign currency, "noting that" the bank can maneuver and manages the rules of the game properly and provide adequate view of the foreign currency.
[tlm724] the bank can maneuver and manages the rules of the game properly and provide adequate view of the foreign currency
[tlm724] wait til bubbies see's that !
[tlm724] adding that "there is a focus monopolistic big in the currency market."
[tlm724] about time !!
[tlm724] I was ^^^ gonna put a cuss word right there but bit my finger
[tlm724] that "a bank the latest shock in market by addressing the monopoly and speculation and left after it cut through the exchange rates , "explaining that" the central bank 's large and able to deal with the monopoly and speculation that occur in the market Foundation. "
[tlm724] oh be sure to tell everyone you have control but you never exercised it ! bunch of goobers let the bus run, they coulda and shoulda fixed this long ago, the CBI is no place for incompetence
[tlm724] but now they have the IMF and WB working it baby
[tlm724] *hallelujah* thank you Lord !
[Shredd] Really good article, explicitly speaking to rate stability. Great timing too imo.