Monthly Archives: February 2017


KAPERONI TIDBIT, 27 FEB

Kaperoni
  Article:  “Central Bank Governor: We support researchers and experts”   Quote:  “…the strength of the role of the banking sector is largely based on the strength of the economy and the stability and diversity, and its role in supporting and stimulating the private sector as the fundamental basis for the economy and growth.” No secrets or shortcuts. Though not what most want to

WSOMN UPDATE, 27 FEB

iny Mouse wrote
4m agoGood morning Avon!! This is Dr. Seuss week

Avon Lady wrote
4m agooh good reading…

That’ll keep you kiddies busy while you wait for the RV.

Sandnsea wrote
3m agoIf knew nothing, I was upset, I vented, so if DD wants to print all my old posts. Go for it because I have nothing to hide.

Sandnsea wrote
2m agoWho here now wants to get me sooo badly. Slow news day.

Ja’afari up to Geneva to represent Iraq at the Human Rights Council

Ja’afari up to Geneva to represent Iraq at the Human Rights Council

27 February 2017


announced the Ministry of Foreign Affairs, on Monday, announced the arrival of its minister Ibrahim al – Jaafari to theSwiss city of Geneva to represent Iraq at meetings of the UN Human Rights Council for the first time in Iraq ‘shistory, anticipating that Jaafari will meet with foreign ministers of several countries, and a number of international officials in the file human rights.

The ministry said in a statement Sumerian received News copy of it, "Foreign Minister Ibrahim al – Jaafari arrived in the Swiss city of Geneva to represent Iraq at meetings of the UN Human Rights Council for the first time in Iraq ‘s history after winning 173 votes, and the choice of vice-president of the Human Rights Council."

The ministry added that, " We hope that the minister will address Iraq at the opening of the fourth session of the Council , which highlights the challenges faced by Iraq, and efforts by the Iraqis efforts in the war against Daesh gangs terrorist, and urged the international community to stand by Iraq."

She continued, " is expected to meet (Jaafari) on the sidelines of meetings with a number of Foreign Ministers of Member States, and a number of international officials in human rights file to discuss further cooperation and coordination in the field of human rights, the fight against terrorism."

http://www.alsumaria.tv/news/196488/…D8%AC%D9%84/ar

DR. CLARKE UPDATE<,27 FEB

DR. CLARKE: This is Truly, “The PERFECT STORM”, and we’re right square in the middle of it. We were hoping for more to share today, that was significantly meaningful & Clear, but it just hasn’t been the case. So, we’re currently in “STANDBY” mode, and hope that by this coming Thursday, March 2nd, things will clear up, and become more solidly known.​We’re not saying things are happening “Sooner”

BACKDOC UPDATE, 27 FEB

BACKDOC:  WE ALL KNOW WE ARE NOT RETURNING TO A GOLD STANDARD AS PER THE IMF, BUT AN ASSET-BACKED (GOLD, BLACK GOLD, AND OTHER QUALIFYING ASSETS)CURRENCIES ARE BEGINNING TO RISE OUT OF THE ASHES OF THE NON BACKED CURRENCY WORLD.  SOME OF THESE ASSET BACKED CURRENCIES WILL LIKELY BE 100% BACKED BY GOLD AS IS POSSIBLE WITH THE NEW DOLLAR! YES WE ARE RETURNING TO A MODERNIZED GOLD STANDARD, IT’S

Oil Export, OPEC Cut Effects and Budget Implications

By Ahmed Mousa Jiyad.

Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News.

Oil Export, OPEC Cut Effects and Budget Implications

Monthly data during the first half of this year are important for Iraq for two main reasons: they reveals the test of OPEC-cuts and how Iraq is actually comply with and affected by them; and the second is the budgetary implications as far as its main thresholds: oil exports, oil prices, oil revenues and KRG oil delivery commitments.

While international business, banking and financial entities, energy consulting firms, media sources among other began a wave of reporting, estimating, speculating reports on these issues, nothing of substance on these issue came from the Ministry/Minister of Oil until SOMO released today its January export data.

As it is known, SOMO monthly reports are released, since 2008, and focuses mainly on oil export volume, oil revenues and average oil price. But such monthly report does not cover oil production and does not cover KRG production and exports; and since the Ministry has imposed anti-transparency environment by terminating the publication of data on oil production and its allocation since September 2016, I used reputable international sources to acquire the missing data.

This brief intervention has three parts:

  1. First part provides assessment of oil export performance for 2016 and concluding that due to lower oil prices and oil exports had resulted in more than 26% deficit in the budgeted oil export revenues.
  2. The second focuses on January oil export and its implication for budget 2017; concludes that first month of OPEC accord worked contrary to Iraq’s interest and, thus, warns against any call based on non-consolidated improvement of oil prices while ignoring the whole picture.
  3. The third part assesses Iraq compliance with OPEC cut of November 2016 through different sources of estimation and raises the possibility missing significant volume of oil produced during January.

Finally, the paper concludes by requesting the Ministry/Minister of Oil to clarify any ambiguities by making full, accurate and transparent disclosure of data and give convincing explanation; and stands against unjustified early revision of the state budget.

Please click here to download Ahmed Mousa Jiyad’s full report.

Mr Jiyad is an independent development consultant, scholar and Associate with Centre for Global Energy Studies (CGES), London. He was formerly a senior economist with the Iraq National Oil Company and Iraq’s Ministry of Oil, Chief Expert for the Council of Ministers, Director at the Ministry of Trade, and International Specialist with UN organizations in Uganda, Sudan and Jordan. He is now based in Norway (Email: mou-jiya@online.no, Skype ID: Ahmed Mousa Jiyad). Read more of Mr Jiyad’s biography here.

ABB in $500m Iraq Electricity Deal

By John Lee.

Iraq has reportedly signed a $500-million agreement with Swiss-Swedish ABB to implement energy transmission projects.

Reuters quotes Prime Minister Haider al-Abadi’s office as saying on Sunday that the agreement was signed between the company and the government of Iraq for the Ministry of Electricity.

(Source: Reuters)

Meet the Influencers at IBBC Spring Conference

Advertising Feature

IBBC Spring Conference 2017

Iraq: Rising Confidence

Monday 3 April at Mansion House, London

Baroness Nicholson of Winterbourne, IBBC President, the Executive Committee and Council Members, are pleased to invite you to the IBBC Spring Conference to be held on Monday 3 April 2017 at the prestigious Mansion House in London. The conference is the place to hear about the latest developments in Iraq from top level UK and Iraqi officials, businessmen and academics.

The IBBC Spring Conference has developed into a crucial event for the development and investment of Iraq globally, and this year’s agenda is once again shaping up tremendously, with the Lord Mayor of the City of London, Dr Andrew Parmley, having agreed to open the conference. The keynote speaker at the conference is Tobias Ellwood, UK Minister for Middle East and Africa, FCO.

Other confirmed speakers include:

  • Frank Baker OBE, Her Majesty’s Ambassador to Iraq
  • Marcus Antonini, Vice President and Country Chairman, Shell Iraq
  • Alistair Kett, Partner, PwC
  • Christian Josz, Deputy Division Chief, Middle East and Central Asia Department, International Monetary Fund (IMF)
  • Dr Raja Al Marzoqi, President, Gulf Monetary Council
  • Louis Taylor, Chief Executive, UK Export Finance
  • Fethi Kirdar, Chief Business Development Officer, Moby Group
  • Omar Hassan, Founder & CEO, Inevert

Our theme this year is ‘Iraq: Rising Confidence’. With an increasingly secure climate, international monetary loans, and an appetite for business and civic investment, IBBC has convened the top experts involved with business in Iraq to discuss the best economic and investment strategies to benefit from Iraq’s Rising Confidence in 2017.

Topics on the agenda include:

  • Power/electricity supply
  • Finance
  • Oil and Gas
  • Technology, Growth and Innovation
  • Iraq after ISIS: Challenges and Opportunities

Each session will emphasise the business opportunities for UK-based companies.

Baroness Nicholson of Winterbourne will host a reception for delegates and special guests following the conference at the nearby venue of Searcy’s at 18:30.

The IBBC team looks forward to seeing you at the Spring Conference.

Click here to register.

 

Bombs target Bai Hassan Oil Pipeline

By John Lee.

Reuters reports that four bombs caused damage and fire on Saturday near a minor pipeline that delivers crude oil from the Bai Hassan oilfield to a degassing station in Kirkuk.

Sources at the state-run North Oil Company (NOC) told the news agency that pumping had already been halted at the time of the blasts due to for maintenance.

(Source: Reuters)

Saudi Foreign Minister in Landmark Visit to Iraq

By John Lee.

Saudi Arabia’s foreign minister Adel al-Jubeir has met senior Iraqi officials in Baghdad, in the first such visit by a Saudi foreign minister since 1990.

Last year, the Saudis appointed an ambassador in Iraq for the first time in a quarter of a century, but later demanded his removal after he made critical remarks about Iranian influence in Iraq.

(Sources: BBC News, Iraqi Ministry of Foreign Affairs)