Bondlady’s Corner

Iraqi News Highlights Tuesday Afternoon 5-23-23

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Iraq Invites International Companies To Invest In The Oil And Energy Sector

Economy|  05/23/2023   Baghdad – Mawazine News, Oil Minister Hayan Abdul-Ghani called today, Tuesday, for international companies to invest in the oil and energy sector, while indicating work to maximize national production of gas.

The ministry said in a statement, which Mawazine News received a copy of, that “Abdul-Ghani called on international companies specialized in the oil, energy and infrastructure sectors to invest and actively participate in developing the oil industry in Iraq, stressing the keenness of the government and the ministry to provide the appropriate investment environment to achieve the participating goals.” .

Abdul-Ghani said, during his participation in the work of the Qatar Economic Forum, according to the statement, that “Iraq seeks to develop a program for the oil industry in addition to sustaining and increasing production, especially in the gas sector, through investment projects for gas associated with oil operations, and the development of hydrocarbon compositions, in addition to the advancement of infrastructure and the development of export outlets.

He pointed out, “The importance of inviting discreet international companies to participate in the supplement to the fifth round, which includes (14) fields and sites in many regions of Iraq, as well as preparing for a sixth round that includes a group of sites and structures with gaseous compositions, especially in the western and northern regions.”

The minister met with the Emir of Qatar, Tamim bin Hamad Al Thani, and the Qatari Minister of State for Energy Affairs, Saad bin Sherida Al Kaabi, and discussed the development of prospects for bilateral cooperation between the two countries in all fields in the energy sector.

Abdul-Ghani stressed, “the importance of expanding horizons of work and cooperation to achieve common goals and interests, while the Qatari minister expressed his country’s desire to actively participate in a number of investment opportunities in Iraq.”

The statement indicated, “The Minister of Oil also met with Prince Abdulaziz bin Salman, the Saudi Minister of Energy, and they discussed bilateral relations and developments in the oil market, and they affirmed their keenness to work jointly to achieve stability and balance in the global oil market.”

The work of the third edition of the Qatar Economic Forum was launched today, Tuesday, in the capital, Doha, in the presence of more than 32 official delegations from countries of the world and two thousand participants from inside and outside Qatar, and its work will continue until May 25, 2023. Ended 29 / H

High Oil Prices

Economy| 08:26 – 05/23/2023   Follow-up – Mawazine News   Oil prices rose today, Tuesday, for the second day, as investors expect a decrease in supplies in the market amid a seasonal increase in demand for gasoline in the United States and a decline in production from the “OPEC +” coalition countries.

Brent crude futures rose 27 cents, or 0.36%, to $76.26 a barrel, while US West Texas Intermediate crude rose 44 cents, or 0.62%, to $71.99 a barrel.

Brent crude rose 0.5% on Monday, and WTI crude rose 0.6%, following a 2.8% rise in US gasoline futures ahead of the Memorial Day holiday on May 29, which usually marks the start of the peak summer fuel demand season.

The US Energy Department said last week it would buy 3 million barrels of crude oil to refill the Strategic Petroleum Reserve for delivery in August.

It is also expected that the voluntary production cuts announced by the Organization of the Petroleum Exporting Countries (OPEC) and its allies, including Russia, in the alliance known as “OPEC +”, will lead to a decrease in supplies in the oil markets, and the cuts entered into force this month.

The High Exchange Rates Of The Dollar In Baghdad With The Closing Of The Stock Market

Economy   Tuesday, May 23, 2023 4:16 PM   Baghdad / The National News Center   The exchange rates of the US dollar against the Iraqi dinar rose today, Tuesday, on the main stock exchange in the capital, Baghdad.

The correspondent of the National News Center said, “The central Al-Kifah and Al-Harithiya stock exchanges in Baghdad recorded an exchange rate of 145,800 dinars, compared to 100 dollars, while the prices this morning were 145,200 dinars.”

He added, “The buying and selling prices rose in exchange shops in the local markets in Baghdad, where the selling price reached 146,500 dinars, while the purchase price reached 145,500 dinars per 100 dollars.”

The Disappearance Of 120 Billion Dinars From A Company Of The Ministry Of Industry And Minerals

The Investigation Department of the Integrity Commission revealed the disappearance of (120) billion dinars from the revenues of a company of the Ministry of Industry and Minerals in Babil Governorate.

The department said in a statement: “The official of the Investigation and Control Division in the Commission’s investigation office in Babil Governorate moved to the General Company for the Automotive and Equipment Industry in Alexandria and monitored the disappearance of an amount of (120,182,085,855) billion dinars from its revenues for the period from (1/9/2017 – 1/9/2022). ),

indicating that “total total revenues amounted to (305,302,307,855) billion dinars, while all expenses and expenditures, according to speculative statements, amounted to (185,120,222,000) billion dinars.”

She added, “Most of the documents and documents were hidden by the responsible employees,” pointing out, “The company’s information center calculator, which contains numbers and statistics for the final accounts for all the mentioned years, was checked, and a copy of the statistics was seized and downloaded to two storage devices (flash memory). in order to protect it from tampering.

In a separate operation at the Real Estate Registration Directorate in Babylon, the department indicated that “a forged letter allegedly issued by the Agricultural Bank in Al-Hashimiyya was seized, according to which the seizure of a property provided as collateral for an agricultural loan worth (150,000,000) dinars was received by one of the borrowers, on the pretext of paying the loan amount.” completely.”

And it indicated, “It also seized exam books for three students; the exam grades were manipulated and changed at the Hammurabi College of Medicine of the University of Babylon.”

Planning: The social protection system reform file is one of the important files that the Prime Minister directed to complete

Tuesday 23, May 2023 13:04 | Economical Number of readings: 334   Baghdad / NINA / – The Ministry of Planning confirmed that the social protection system reform file is one of the important files that were directed to be completed by the Prime Minister.

A statement by the Ministry of Planning stated that the steering committee of the joint social protection program between the Iraqi government, the European Union and the United Nations held its fourth meeting, today, Tuesday, to discuss the social protection and digitization strategy at the headquarters of the Ministry of Planning, headed by the Undersecretary for Technical Affairs, Maher Hammad Johan.

And Johan said in a speech to him, according to the statement: “The file of reforming the social protection system is one of the important files that were directed to be completed by the Prime Minister, stressing the importance of expediting the completion of this file by working to formulate mechanisms and take appropriate measures regarding this file.”

In addition to finding an appropriate working mechanism for coordination between the implementing agencies and the beneficiary government agencies, with a review of the challenges and problems that we may face during implementation through the preparation of the plan to ensure the achievement of the goal that includes building an integrated effective social protection program that is interconnected with social security, in addition to its interdependence with activities The private sector, childhood and vulnerable groups in order to provide the best protection and care for these groups.

For her part, the Undersecretary of the Ministry of Labor and Social Affairs in the Kurdistan region, Zakia Saeed Salih, said in a speech to her via the electronic platform Zoom:

“There is great interest in the social protection program, as it is a tool for Iraq’s access to achieving more equality and addressing places of weakness and fragility, as well as with regard to security.” Food, social protection and distribution of care services to those who deserve it.

She added: “The legislation of the Labor and Social Security Law is a very important step for the Iraqi government. It contributes to introducing the program into the legislative framework and working to improve the ration card system and social care. The meeting witnessed a discussion of the social protection and digitization strategy, and a review of the progress made against the joint action plan.

” And discuss challenges in implementation and ways to move forward to implement the program.

The Undersecretary of the Ministry of Labor and Social Affairs, Huda Sajjad, and a number of general managers in the Ministry of Planning, Labor and Trade, and representatives of the European Union, UNICEF and international labor organizations, as well as the World Food Program, participated in the meeting./ End

Member Of Parliamentary Finance: We Were Expecting To Settle The Budget In The Middle Of This Week, But..

Money  and business   Economy News – Baghdad   A member of the Parliamentary Finance Committee, Jamal Cougar, said, on Tuesday, that the committee is still on the same disputed points in the budget.

In an interview with the official newspaper, Cougar said, “The region’s share has not yet been decided, nor have the transfers been completed, nor have the additional materials been included until this moment.”

He added, “We expected that the budget would be settled in the middle of this week, but the committee is still working on settling these points.”

And he continued, that the paragraph “reducing the number of the region’s employees is still being discussed, and we hope to return it to what it was.”

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