aggiedad77 » June 1st, 2015, 2:53 pm
Monday News Summaries and Commentaries
IRAQ: Iraq announces the launch of heavy oil export system card 58 000 barrels per day
It would seem that Iraq is bending to the pressures of the oil financial world.....they have been blending their heavier weight crudes with their lighter weight crudes and attempting to sell it as a light crude, thus getting more money for it.....but the market is crying enough of this game.....
Iraq will now be marketing it's heavy crude as such and taking a hit on the price per barrel for it....the heavier crude is considered a "dirtier" crude and more difficult to refine....but on the other hand this should also all them to sell their light weight crude for a better price as well, since it will no longer be as contaminated by the heavy crude.
Iraq to stay out of Iran-Saudi conflicts: PM
Smart move on the part of PM Abadi, stay out of the issues of surrounding neighbor countries, you have enough troubles at home to deal with at the moment.....he is attempting with much success to reestablish relationships with the Saudis that Maliki pretty well obliterated.....so much so that the Saudis will be rebuilding an embassy in Baghdad soon, after a 25 year absence.
Trade is negotiating with two companies, Iranian and Turkish to buy 75 000 tons of iron
This sounds like Iraq has some plans under development for manufacturing of things made of iron.....a good sign....they are seeking to complete a couple of contracts that would provide them with 75,000 tons of iron, much of which would be in the form of rebar....probably to be used in the construction industry to reinforce structures such as buildings....or perhaps to strengthen roadways.
Owners generators big winner .. citizens between the flames of summer and promises of oil and electricity
One long and very difficult to read article.....suffice it to say that even after years since the toppling of Saddam most Iraqis suffer from a lack of electrical power or a lack of consistent electrical power....a sad thing to think of with such a vast swimming pool of oil and especially gas that could be harnessed and converted into power to drive electrical power plants.
200 corruption dossiers, mostly politically protected, Baghdad Governor
The governor of Baghdad has handed over 200 names of people suspected of corruption, but believes many of them to be politically protected.....none the less the names are now in the lap of the Integrity Commission to attempt to bring those found guilty to justice....one problem though is that it is believed many of the guilty parties have fled the country....I like his idea of publicizing the names of the guilty to warn the Iraqi citizens of who to be watching for....the governor has also claimed to have saved the province billions of dollars by restructuring old contracts into new ones that are better worded and equipped to combat corruption.
Abadi: we have no money and we are suffering from a lack of weapons
In a rare step away from a positive forecast for Iraq, PM Abadi states that Iraq suffers from a lack of money and weapons.....he claims that as ISIS overran Mosul and other areas they were handed over 2,300 humvee type vehicles that were left behind by the fleeing Iraqi forces at the time....
The Iraqi Security Forces of today must combat against those arsenals that fell into the terrorists hands and have had little in the way of weapons supplies coming in since the war against DAASH started last year.
Abad is keen to get important laws passed that will benefit all of Iraq for sure....he especially seeks agreement on the oil agreement with the Kurds that means meeting oil export targets and payment to the Kurds from the budget as well.....but still the two entities are not dancing on the same floor with either regard it seems.
Parliamentary Finance warns of corruption and manipulation in the printing of the new currency
Now here we have the very same bird who actually seemed to talk sense last night, now talking craziness with regard to the printing of currency...again this comes from the Finance Committee...reader be ware.....more senseless talk of large denominations...and now the lack of security associated with currency printing....give me a break....the Iraqis were born....but they were not born yesterday....
Do you honestly think they would purposefully print something as important as currency that would provide counterfeiters with an ease to do their jobs.....I hope not.....AND....to continue pointing fingers at the CBI regarding corruption.....bring your allegations to the table....name names....or keep your drivel to yourself.
Parliamentary Finance: customs tariff will be applied in Kurdistan, beginning next month
"Z" I know you post on this later, so I'm going to say this about the article.....consider the source....Finance Committee....speaker is Tamimi, a long time Maliki fan.....red flags.....plus while she is saying July.....she cages her response carefully so as a specific date in July is not given....could very well be "after" Ramadan.....I personally do not see anything coming of this until they can get all provinces and regions onboard with the implementation in an equal fashion at all ports of entry.....don't see them being ready yet.
Governor of the Central Bank: Other banks will join for the adoption of a fixed selling price for the dollar
According to the CBI governor an additional 13 banks will begin selling dinars against the dollar in the exchange market....an attempt to match supply with demand....we shall see how this turns out for them in the coming weeks....the dollar exchange rate has meanwhile risen to 1260, highest in history....again demand far outreaching supply.
Parliamentary Security confirm the arrival of the issuance of the national card system to Baghdad
These cards have been "coming" for as long as I can remember it seems.....so July is now the magic date....maybe after Ramadan I would think....but which Ramadan.
Baghdad formally declare bankruptcy and cut the salaries of its board confirms more than 3000 employee contract
Baghdad province has no money....can't pay employees....join the rest of Iraq in this plight.....the struggles continue to deepen all across Iraq....what is next up for the powers to be to pull these folks out of this downward spiral.....they paint a dark picture....but from what we hear of intel.....hope and help is on the horizon....pray it so.
Statement of the three presidencies meeting
The three presidencies met last night, the Iraqi President, the PM, and Speaker of Parliament, along with the Chief Justice and I believe the three VP's of the President were in attendance.....in all honesty this sounds like a "rah-rah" kind of meeting talking about national reconciliation, unity, security, sovereignty, and efforts to defeat DAASH....probably a much needed effort to pump each other up....with the exception of Maliki.....from where I sit I think that PM Abadi's push forward is starting to slow down a bit and he needs to figure out a way he can kick it in the rear and stir things up.....
As a result the efforts of Parliament have been about lackluster and also need a boost to regenerate some drive and resolve from them to become proactive once again.....I still feel reasonably confident that we may/should see them back together before the end of this vacation....
I've already seen evidence of several key committees continuing their work through the vacation session.....so I think anything is possible for them over the next 30 days.....don't count them out just yet.....they are reaching out both internally and externally for support of their efforts to bring an end to the terrorist crisis as well as the financial crisis.
The newspaper "Orient": No holiday for the legislative commission of inquiry Mosul
As I indicated, some key committees continue their work even during the Parliament vacation....the Mosul investigating committee is one such entity......their time draws to a close for their investigations and they should be working on a final report or recommendations for charging guilty parties very soon.
Parliamentary displaced decides to continue its work during the legislative recess
Another committee from Parliament continuing their work....the Displaced Citizen Committee...these committees give me hope that Parliament as a whole will soon realize the importance of their work and perhaps they will be drawn back to work on the laws they recognize as critically important....oil and gas law.....National Guard law....Federal Courts Law.....Law of Parties.....they need to spit these out, then they might deserve a break....truly deserve.
Zamili's (dinars): granting more than 316 investment license distributed to all sectors
Over 300 new investment licenses being issued over a variety of business sectors in Baghdad....this action being taken by the Baghdad Investment Authority.
The rise in oil revenues for the month of May .. more than 5 billion dollars
Iraq reports over 97.5 million barrels of oil exported for May, to the tune of over $5 billion dollars.....daily exports averaged just short of 3.15 million barrels....their average price per barrel in May was only $55 though....again a reminder of the fact that Iraqi oil will be several dollars ($7-10) short of what is reported for Brent Crude....and we saw earlier where they will be selling heavy crude separately in Basra so that price will be even less due to its impurities.....on a brighter note....I do believe they saw some days in May where the price per barrel was above the budget number of $56.
Taking a break to get this posted, several family interruptions slowed it down for the day. Enjoy. Aloha Randy