“Tidbits From TNT” Saturday Morning 9-30-2023

TNT:

CandyKisses:  Hundreds demonstrate in central Baghdad to demand salary scale adjustment

Baghdad Today – Baghdad

Hundreds of state employees demonstrated on Saturday (September 30, 2023) in front of the Prime Minister’s Office in central Baghdad to demand an adjustment to the salary scale.

The “Baghdad Today” correspondent reported that hundreds of state employees organized a demonstration in front of the Prime Minister’s Office in the Al-Alawi area in central Baghdad to demand a change in the salary scale.

It is noteworthy that hundreds of employees of government institutions in Basra went out last Thursday (September 28, 2023) in a demonstration in front of the Basra Governorate building. To demand a change in the salary scale .

The “Baghdad Today” correspondent said that hundreds of employees of state departments went out in a demonstration in front of the Basra Governorate building, pointing out that the employees demanded that the salary scale be modified

Tishwash:  Iraq calls on Iran to participate in investment projects to establish industrial and free zones between the two countries

The Undersecretary of the Ministry of Commerce for Administrative Affairs, Sattar Al-Jabri, met today, Friday, on the sidelines of his leadership of the Iraqi delegation in the meetings of the Iraqi-Iranian Trade Committee in Tehran, with many representatives of the Iranian private sector and invites them to participate in investment projects to establish industrial and free zones between Iraq and Iran.

Al-Jabri confirmed in a statement received by Earth News that “the meeting took place during his visit with the delegation, the Federation of Industries and Chambers of Commerce in Mashhad, and the Deputy Governor of Mashhad for Economic Affairs, and in the presence of the Iraqi consul there, to discuss the possibilities of joint trade cooperation between the two countries and investment opportunities in establishing industrial cities, free cities, and other investment projects.” Others available in both countries.

He continued, “The delegation visited the Iraqi consulate in Mashhad and met with the consul and consular staff to praise their distinguished role in following up with the Iraqi community, government delegations, and travelers.”

Al-Jabri indicated at the same time that “the meeting also took place with the Federation of Chambers of Industry and Commerce in Tehran to discuss trade and investment cooperation.”

It is worth noting that the work of the Iraqi-Iranian Trade Committee concluded last Wednesday with the signing of a memorandum of trade cooperation to remove obstacles to the development of intra-regional trade, which continued over the twenty-sixth and twenty-seventh of this month of September. link

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CandyKisses:  Oil prices rise 30% in the third quarter of 2023

Information / Baghdad…Oil prices rose about 30% in the third quarter of this year, as global crude oil supplies face pressure from voluntary cuts by the OPEC+ alliance.

Macroeconomic and profit-taking concerns sent oil prices lower at settlement on Friday, Sept. 29, but rose about 30 percent in the third quarter.

Iraq achieved revenues from the sale of oil in August, amounting to (8) billion and (997) million and (851) thousand dollars, where it sold a barrel at an average price of (84.787) dollars.

Brent crude futures for November fell 7 cents to $95.31 a barrel at settlement on Friday, September 30, but rose 2.2% during the week and 27% during the third quarter, continuing to approach $100 a barrel.

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Tishwash:  India prefers Iraqi oil over Saudi oil for this reason..

India’s oil imports from Russia rebounded in September after reaching their lowest levels in seven months in August, as a result of lower prices for Middle Eastern crude, according to what preliminary data on trade flows from the London Stock Exchange Group, Kpler and Vortexa Analytics showed.

The data showed that India, the third largest importer and consumer of oil in the world, increased its imports from Iraq while reducing its imports of Saudi oil.

Victor Katona, chief oil analyst at Kpler, said: “The competitiveness of prices is in favor of Russian crude, and if Indian refiners want to obtain quantities with specific contracts from the Middle East, they seem to prefer (oil) from Iraq, as Basra crude is still average.” It is about $2 cheaper per barrel than Arab Medium or Arab Light crude,” according to Reuters.

London Stock Exchange Group data showed that India’s imports of Russian oil amounted to about 1.55 million barrels per day in September, an increase of 16 percent from August, while imports from Iraq increased by 17 percent to reach about 1.1 million barrels per day.

Vortexa data indicated that Russian oil imports amounted to 1.52 million barrels per day, compared to 1.44 million in August.

On the other hand, London Stock Exchange data showed that India’s imports from Saudi Arabia fell to about 676 thousand barrels per day in September, a ten percent decrease from August. link