"Tidbits From TNT" Monday Morning 5-30-2022

May 30

TNT:

Tishwash: It is likely that foreign reserves will rise to more than 70 billion dollars

Economic reality: the foreign reserves are likely to rise to more than $70 billion.

There is talk of a clear relative increase in the volume of foreign currency reserves for Iraq, to more than seventy billion dollars, amid expectations of positive repercussions if the right development plans are put in place.

Toward high levels, the size of Iraq's cash reserve is increasing. Expectations indicate that it may exceed the limits of seventy billion dollars at the end of this year. Developments that many hope will have positive effects, provided that they think about putting development plans at the forefront of work.

This rise in the volume of foreign currency reserves could be a basis to thwart any future moves to raise the value of the dollar, and may constitute a step towards restoring exchange rates stability in a way that is in the interest of the citizen.

This relatively high level makes Iraq Reassured about the level of foreign reserves, and here remains the necessary need for there to be a process of balance between the level of financing and development steps and means of production to achieve stability. ink

CharlieOK: Per Tony's Friday call, he said we were to START on either Saturday or the following Tuesday. There is the window. Today's tweet today clarifies that this coming Tuesday we will START. Notice there is no back wall date.

Moutain Mole: So if our window “starts on Tuesday, May 31, perhaps Tier 4 would begin by or before the 5th of June. That gives Tier 4 10 days to exchange before the rate drops into on the 15th. The public would begin after the 15th. I don’t know if Tier 4 could be exchanged in 10 days.

GraceRenewed: I love how we all speculate all the possibilities.

Yada: Once they release the rate, we all go at the same time. No waiting for us.

Annie68: yada, the end probably won't show until Tonys outside date of the 15th. Seems like no amount of pushing from anyone gets them moving!

Yada: Agreed CharlieOK, the window is the soonest. 15th Annie, not based on what has been shared the past few calls. Once released at any level,we won’t have to wait for other levels to go, we all go.

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Tishwash: Experts warn: Iraq is on the cusp of a dangerous security escalation (5/30)

Security experts warned that Iraq is on the cusp of a security escalation during the next stage in the event the political impasse continues, and at a time when they considered opening the Green Zone to citizens in light of security challenges as an "achievement", albeit partial, they stressed the need to activate the cameras system in all regions of the capital and governorates, as well as Rely on the intensification of the intelligence effort.

Security expert Ahmed Al-Sharifi warned that Iraq is on the cusp of a security escalation during the next stage due to the dispute in the political arena.

Al-Sharifi said: "There is a growing concern, whether from those in charge of institutions or observers, because political conflicts are now casting a shadow on the security and military scene in the country."

He added, "The management of the battle requires that there be an administrative presence of ministers and agents, because everyone is subject to supervision, control and follow-up, which is an important and vital part of the tasks of the legislative authority," noting that "the absence of these matters directly affects the security and military situation, in addition to that Political crises are not local, but are subject to regional balances, and this means that we cannot talk about the safety and security of the border shoulders between Iraq and neighboring countries in many cases, because they put pressure on the security and military process, which makes the state of confusion that prevails in the scene and these two security files.

Al-Sharifi expected, "a security collapse will occur during the next stage, because this file is at the same time subject to political bargaining, as it has become a mental image in the Iraqi public opinion, that whenever there are political settlements and political consensus, we witness security and military stability, and in contrast there will be a defect."

He cautioned that the association of political crises with the security and military file is very likely, expressing his regret that “military and security institutions may not perform their guarantor role on the internal and external fronts because they are subject to the political will and quotas, and this has cracked the functional role of institutions in performing their combat and security tasks.”

In turn, the security expert, Fadel Abu Ragheef, said in an interview: "The Green Zone witnessed many interactions, including the operations of delivery, initiation, opening and closing, as it had previously opened for a short period during the governments of former Prime Minister Haider al-Abadi and former Prime Minister Adel Abdul Mahdi."

Abu Ragheef described the political blockage as “a scramble for positions and ministries, because all that means these blocs are the spoils they aspire to,” and added that “the blockage does not open except by negotiating the division of positions, ministries, general managers, agents and independent bodies, after the resolution of the prime ministership and before it the vote. to the President of the Republic.”

As for the director of the "Republican Center for Security and Strategic Studies", Dr. Moataz Mohi Abdel Hamid, he indicated that "Prime Minister Mustafa Al-Kazemi ordered the opening of the Green Zone and renaming it to (Al-Taqseh neighborhood) instead of the American designation in response to the citizens' demands and in order not to be distinguished from the rest of the other residential areas. close to it.”

Abdel Hamid added, in an interview, that "things find miserable outside the Green Zone, through the chaos in traffic and streets, and the lack of ability to control the security aspect to control the street and vehicles."

He warned that “the modern trend to control the security situation requires planting cameras to monitor streets and people,” stressing that “the militarization of society and the gathering of large numbers of security personnel in one place or region is no longer feasible, and it is also reflected in the performance of the civilian citizen, which is a catastrophic sign. It is very backward in the city and is incorrect when approaching the subject in this way.”

Editing: Muhammad Al-Ansari link

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Tishwash: Report: Iraq ignites international competition to develop its oil fields

The Iraqi government is heading to attract new and diversified investments in the oil and energy sectors, while seeking to increase production and develop the infrastructure of the oil industry, as part of its plan to export 8 million barrels by the end of 2027.

China is one of the largest buyers of Iraqi crude, as Chinese government companies managed to establish a dominant position in the Iraqi oil sector, which caused concern among the Baghdad government, which fears the transformation of its oil sector to the Chinese, and what this means, in light of the fierce competition between Washington and Beijing.

But the Iraqi government put an end to more Chinese investments in its major oil fields, as it recently expressed reservations about the desire of Chinese companies to buy stakes in the oil market, and instead worked to hold talks to diversify investors in the field of energy and oil.

Negotiations with France

The Iraqi Oil Minister, Ihsan Abdul-Jabbar Ismail, recently held talks in France and Britain, in an attempt to secure more investments in the oil and energy sectors.

Ismail announced that his country had presented new plans to the British "BP" and the French "Total" to invest in the oil, gas and clean energy sectors.

The Ministry of Oil said, in a statement, that the Iraqi Oil Minister had recently held meetings in London and Paris with the top management of the British "BP", the French Total and the French Ministries of Energy and Economy, and put forward new plans to invest in the oil, gas and clean energy sectors.

The Iraqi minister said, during his meeting with the senior management of the British "BP" company: "We have large projects, and our plans are continuing in the field of clean energy, and BP is one of Iraq's most important partners, and it is ready to pump more investments in the field of clean energy, and our country is open in this direction. We have big plans on paper."

The Iraqi minister added that his country "concluded contracts with the Norwegian (Scatec), the French (Total), the Chinese (Power Jaina), the UAE (Masdar) and the Saudi (ACWA Power) to implement renewable energy projects, as Iraq intends to reach 20 percent of the The country’s energy production is from renewable and clean energy, and we are working to create a good environment for investment, and we are working in the right direction now to implement our plans.”

The minister stated: "We discussed in Paris with Total CEO Patrick Pouyanne, programs, job opportunities, joint cooperation in the implementation of oil and energy sector projects, and agreement on the timing of the implementation of a number of joint projects, including the associated gas investment project in a number of oil fields in southern Iraq. The solar energy project, the Artawi field development project and the increase in production, and the sea water transfer project to support the processes of sustaining and increasing production in the oil fields.

Specialists believe that the multiplicity of operating companies and their different nationalities is evidence that Iraq is still attracting international companies for investment and partnership with them.

In turn, a member of the Oil and Gas Committee in the Iraqi parliament, Ali Abdul Sattar, said that "France was supposed to enter the Iraqi oil market some time ago, as happened with other American, Chinese and other companies."

Abdul Sattar stressed, in a statement, that "there is an international race to work in Iraq, and this is a legitimate right for all companies, and we hope that France and others will take their real opportunity to work in Iraq and its fields," stressing that "Iraq will remain an attractive environment for investment, and the door is open to all companies wishing to work with what is serving Iraq and its people.

With the continuation of the Russian oil crisis, the West is looking for all possible ways to enhance oil supplies, as it opened the door to the possibility that Iraq would play a major role in this field, but the issue of some Western companies leaving Iraq during previous years, due to concerns about the country’s investment environment, sheds light On some challenges in achieving higher investments in Iraqi oil fields.

Last year, the Iraqi Oil Ministry thwarted three deals that would have given Chinese companies greater control over Iraq's oil fields, and caused a mass exodus of major international oil companies that Baghdad wanted to invest in its economy, according to "Reuters".

The interventions also represent a turnaround after Chinese companies have won the most energy deals and contracts awarded in the last four years.

As major oil companies raced to enter Iraq's huge oil fields after 2003, executives say they are increasingly focused on switching to alternative energy types and more profitable deals elsewhere, and they also want better terms for developing oil fields.

In the midst of new investment competitions, Baghdad took measures to restore its sovereignty over the management of its oil in a dispute with the Kurdistan Regional Government in northern Iraq, which refused to implement the Federal Supreme Court's decision to abolish the 2007 oil law in the semi-autonomous region.

The Iraqi Oil Ministry recently warned major international oil companies operating in the Kurdistan region of Iraq against contracting with the regional government, while Baghdad will review those contracts with the restoration of control over all the oil fields in the north.

The Iraqi Oil Minister had announced that his country is proceeding with its plans to raise the production capacity of crude oil to eight million barrels per day by the end of 2027, in cooperation with foreign companies operating in Iraq.

Iraq, which is the second country in the Organization of Petroleum Exporting Countries (OPEC), has huge reserves of oil, and during the past ten years oil revenues represented 99 percent of Iraq's total exports and 85 percent of the country's general budget. link

Mot: ......... Uh Oh! ~~~~~~