Iraq Economic News and Points to Ponder Friday Evening 5-17-24

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Iraq Economic News and Points to Ponder Friday Evening 5-17-24

New American Positions Towards Resuming The Export Of Kurdistan Oil… And Foreign Companies Set A Condition

05-17-2024 |  4,488 views  Alsumaria News – Economy  The US State Department confirmed the continuation of its contacts with officials in Baghdad, Ankara, Erbil and American companies, to resume oil exports from Kurdistan through the Turkish port of Ceyhan, while foreign companies operating in Kurdistan confirmed that they are ready to resume exports on the condition that their funds related to previous and future exports are guaranteed.

Deputy Spokesman for the US State Department, Vedant Patel, said in a press conference held in Washington, “Developing different ways to deliver Iraqi energy to global markets is in the interest of Iraq and the United States,” noting that “we are in direct and continuous contact with officials in Baghdad, Ankara, and Erbil.” And American companies affected by the cessation of oil exports, in relation to the opening of the Iraqi-Turkish oil pipeline.”

Meanwhile, Assistant Secretary of State for Energy Affairs Jeffrey Pyatt was visiting Erbil, and he said during his visit that today’s visit left a strong impression on me regarding the abundance of energy in this region, its importance for achieving energy self-sufficiency in all of Iraq, as well as the extent to which we face… They all have some of the same challenges.”

For its part, the Federation of Foreign Petroleum Companies Operating in Kurdistan said that it welcomes the visit of the US Assistant Secretary of State for Energy Affairs, and that the companies are ready to resume exports, provided that agreements are reached that provide for ensuring payment for previous and future exports and maintaining commercial and economic conditions.

Miles B. Caggins, the official spokesman for the Kurdistan Oil Industry Association, said: “Ambassador Bayat’s visits to both Baghdad and Erbil underscore the importance of immediate and cooperative action by all stakeholders to restore exports through the Iraq-Turkey pipeline.” He

stressed that “the companies remain members .” APICOR is keen to resolve the export impasse and would welcome the invitation to participate in this process.”   LINK

Railways: Installing Electronic Payment Devices At Passenger Ticket Reservation Stations

Time: 05/17/2024 Read: 754 times   {Local: Al-Furat News} The Ministry of Transport announced today, Friday, the installation of electronic payment devices at passenger ticket reservation stations.

The Director General of the General Company for Iraqi Railways, Younis Al-Kaabi, said in a statement, a copy of which was received by {Al-Furat News}, that “according to the directives regarding the transition from cash payment to electronic payment and the confirmations of the Minister of Transport on the application of the electronic payment system in all formations of the ministry, payment devices have been installed and activated.”

Electronic exchange by the exchange company and the Arab company, by providing one or two devices in fourteen stations to reserve passenger train tickets.

He added: “Electronic payment has been activated for eleven administrative regions (the cashier unit), and workers within the cashiers and employees of the ticket reservation units have been trained on the devices by the electronic payment team at the Railways and the teams of the exchange and Arab electronic payment companies.”   LINK

A Delegation From The Retirement Authority Discusses With The World Bank Reform Of The Retirement System In Iraq

Friday 17, May 2024 14:12 | Economical Number of readings: 164  Baghdad / NINA / The Retirement Authority delegation discussed with the World Bank reform of the retirement system in Iraq.

A statement by the Ministry of Finance stated that, within the framework of providing technical assistance to reform the retirement system in Iraq, a delegation from the National Retirement Authority headed by the head of the authority, Maher Hussein Rashid, attended the coordination meeting with a group of members of the World Bank in Istanbul to discuss the issue of reforming the retirement system in Iraq, in an important step towards… Ensuring its sustainability and improving future opportunities for citizens,

he explained that during the meeting technical, technical and technical assistance was provided by the bank to facilitate the process of providing services to retirees./End 9 https://ninanews.com/Website/News/Details?key=1127090

Oil Prices Are Heading For Their First Weekly Increase In 3 Months

Money  and business  Economy News – follow up  Oil prices rose today, Friday, with Brent crude, the global benchmark, heading for its first weekly increase in three weeks thanks to signs of improving global demand amid stronger economic indicators from major consumers China and the United States.

Brent crude prices rose 21 cents, or 0.25 percent, to $83.48 a barrel by 0314 GMT. we. West Texas Intermediate crude futures rose seven cents, or 0.09%, to $79.30 a barrel.

Markets were also boosted by Chinese industrial output growing by 6.7% year-on-year in April as the pace of recovery in the manufacturing sector accelerated, indicating the potential for increased demand in the future.

The decline in oil and refined product inventories in major global trading centers also created optimism about oil demand growth, reversing the trend of rising inventories that had severely impacted crude oil prices in previous weeks.

Recent economic indicators from the United States have fueled optimism about global demand. we. Data on Wednesday showed that consumer prices rose less than expected in April, boosting expectations of lower interest rates in the country.

These expectations were further strengthened by data on Thursday, which showed the stability of the US economy.

Lower interest rates could help ease the US economy. dollar, which would make oil cheaper for investors holding other currencies and boost demand. Views 85 05/17/2024 – https://economy-news.net/content.php?id=43493

New American Positions Towards Resuming The Export Of Kurdistan Oil… And Foreign Companies Set A Condition

 Economy     2024-05-17 | 2,424 views  Alsumaria News-Economy   The US State Department confirmed the continuation of its contacts with officials in Baghdad, Ankara, and Erbil and American companies, to resume oil exports from Kurdistan through the Turkish port of Ceyhan,

 while foreign companies operating in Kurdistan confirmed that they are ready to resume exports on the condition that their funds related to previous and future exports are guaranteed.

 Deputy spokesman for the US State Department, Vedant Patel, said in a press conference held in Washington,

 “Developing different ways to deliver Iraqi energy to global markets is in the interest of Iraq and the United States,” noting that

 “we are in direct and continuous contact with officials in Baghdad and Ankara.” And Erbil and American companies affected by the cessation of oil exports, regarding the opening of the Iraqi-Turkish oil pipeline.”

Meanwhile, Assistant Secretary of State for Energy Affairs Jeffrey Pyatt was visiting Erbil, and

 he said during his visit that today’s visit left a strong impression on me regarding the abundance of energy in this region, its importance for achieving energy self-sufficiency in all of Iraq, as well as the extent to which we face… “They all have some of the same challenges.”

For its part, the Union of Foreign Petroleum Companies Operating in Kurdistan said that

it welcomes the visit of the US Assistant Secretary of State for Energy Affairs, and that

 the companies are ready to resume exports, provided that agreements are reached that provide for ensuring payment for previous and future exports and maintaining commercial and economic conditions.

 Miles B. Caggins, spokesman for the Kurdistan visits Oil Industry Association, said:

 “Ambassador Bayat’s to both Baghdad and Erbil underscore the importance of immediate and cooperative action by all stakeholders to restore exports through the Iraq -Turkey pipeline.” He stressed that

 “APIKOR member companies are still keen to resolve the export impasse and will welcome the invitation to participate in this process.”  https://www.alsumaria.tv/news/economy/488845/مواقف-أمريكية-جديدة-تجاه-استئناف-تصدير-نفط-كردستان-والشركات-الأجنبية-ت      

To read more current and reliable Iraqi news please visithttps://www.bondladyscorner.com/

Provoking Thoughts and Points to Ponder on Advice :

Fewer things are harder to put up with than the annoyance of a good example.  – Mark Twain

The only thing to do with good advice is to pass it on. It is never of any use to oneself.  – Oscar Wilde

A good scare is worth more to a man than good advice.  – Edgar Watson Howe

There is little serenity comparable to the serenity of the inexperienced giving advice to the experienced.  – Anonymous

Advice is seldom welcome; and those who want it the most always like it the least.  – Lord Chesterfield

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