May 28th, 2014, 6:54 pm
More Wednesday News Summaries
Secretariat of the Council of Ministers formed a team to follow up the work in the field of border crossings
The Secretariat of the COM formed a committee to followup on progress being made at border ports across Iraq....it sounds like they have made the rounds to all port areas save those to the west....don't think I would want to go there either....the team focused on areas that could be improved, especially any areas that would also help the economy improve.
Oil creates satellites to monitor the movement of their tanks
So now the Iraqi government is turning to the spy in the sky technology to track movements of trucks that are transporting oil, so concerned they have gotten with the issue of illegal shipments of oil this looks to put a squelch on any over the road illegal shipments....not sure how this will tie to pipelining of oil just yet....they are even asking citizens to report suspicious trucking of oil.
Zebari participates in NAM 17th Ministerial Conference in Algeria
Foreign Minister Zebari arrived in Algeria to attend the NAM Ministerial Conference....in the process he will also meet with Algerian officials to discuss prospects of bilateral relations between the two countries....NAM stands for Non-Aligned Movement....we may hear more from this conference.
Infighting a Boon to Iraq Bonds as Cash Pile Swells: Arab Credit
Iraq's 2028 bond has fallen 101 basis points in 2014...to 6.64% today....it slides to within 3 basis points of the lowest since March 2013....the bond has returned 13% in the period, more than double the dollar denominated bonds from the ME OPEC members....foreign currency reserves capped at 33% to 88 billion for the fourth quarter 2013...in the same time frame the Iraqi's surpassed Iran as the second biggest OPEC producer....they have bee spending less....could be because they don't have a budget and it's hard to get blood out of a turnip....Iraq continues to reconstruct it's energy sector with the help of outside companies, their production for April stood at 3.25 million barrels per day...with the economy growing at a 5.8% rate....oil is still king as other sectors are showing definite signs of slowdown due to the budget struggles....violence is the other king in Iraq and continues almost unchecked.
Maliki receives Miladinov
Maliki wants to be everyone's buddy all of a sudden.....more political hay being made on his behalf as he meets with UNAMI Miladinov to talk about the April 30 elections and how well things turned out for the most part....Milandinov even pointed to the fact that Iraq will not return to the era of dictatorship....is this a subtle hint that he knows Maliki's days are numbered....or perhaps a subtle in telling Maliki if he expects a third term the world expects him to change his ways....either way there appears to be change on the horizon for Iraq.
Kurdistan’s oil can meet Turkey’s needs for 200 years
The Kurds have quite a bit of oil under their soil....so much so they could supply Turkey for 200 years....or even the entire world for a year plus.....ok....I don't get where all of a sudden the Iraqi's are talking about oil in relation to tons.....where does this come from?
Shahristani calls to encourage Korean companies to enter the Iraqi market
The Iraqi Oil Ministry seeks to lure the South Koreans into the Iraqi oil sector....meanwhile the South Korean Ambassador committed that he would do what he could to direct South Korean businesses to give Iraq a serious look with regard to helping them continue the reconstruction efforts of their oil and gas processes.
Iraq seeks to invest associated gas
It is predicted that Iraq will become self-sufficient with regards to natural gas by 2019......Iraq reportedly burns 700 million cubic feet of gas a day....enough to generate 4,500 mega-watts of electricity....A DAY!!!....their issues in the past decades have been in the purification process, they have lagged sorely behind....thus the cause of so much gas burned.....they are working to change that with the development of processing plants designed to specifically create marketable gas that can be used in country and then eventually exported to others.
Parliamentary economy: government can wait demanding Washington to lift the immunity from Iraqi funds
Well this article seems to be a day late and a dollar short....the deed has already been done...sure the Iraqi's could have asked for and probably received immunity for another year for the DFI....
but the Iraqi's see themselves wearing big boy pants now.....
time will tell if they have managed things appropriately....
or will they be like any other lottery winners....broke before they know it.
Afternoon News Summaries