Post From BondLadys Corner
BondLady & Tlm724 News & Comments 6-7-16 Part 1 of 2
"CBI" determines the dollar selling in the local market price of 1200 dinars
07/06/2016 09:21 | Direction Press / Baghdad
The Central Bank of Iraq, on Monday, a decision which the sale of the US dollar in the local market price set at 1200 dinars after it reached its prices to 1300 during the last few weeks.
In a statement issued by the Bank of citizens and merchants who pay more than the amount of 1200 dinars to the dollar , and who have purchased from banks or remittance companies or exchange companies with cash or money orders or letters of credit to make a complaint to the Central Bank reached with the payment terms of the increase will be paid by teams to the buyer by the bank and deducted from the vendor 's account.
~~~
BondLady & Tlm724 News & Comments 6-7-16 Part 1 of 2
"CBI" determines the dollar selling in the local market price of 1200 dinars
07/06/2016 09:21 | Direction Press / Baghdad
The Central Bank of Iraq, on Monday, a decision which the sale of the US dollar in the local market price set at 1200 dinars after it reached its prices to 1300 during the last few weeks.
In a statement issued by the Bank of citizens and merchants who pay more than the amount of 1200 dinars to the dollar , and who have purchased from banks or remittance companies or exchange companies with cash or money orders or letters of credit to make a complaint to the Central Bank reached with the payment terms of the increase will be paid by teams to the buyer by the bank and deducted from the vendor 's account.
~~~
The statement said the decision was " a confirmation of the directives and instructions for foreign exchange rates."
Commenting on the statement , media advisor to Acer Jabbar bank said in a press statement that " the bank will direct sanctions against those offending is preventing them from getting into the daily auctions to sell thedollar , which held".
the Iraqi central bank sold dollars to companies registered in the amount of about 1160 dinars to the US dollar while selling prices rise in the local market to close to the barrier in 1300.
http://ift.tt/24wqZlh
Bondlady ***the Iraqi central bank sold dollars to companies registered*** in the amount of*** about 1160 dinars***Wink to the US dollar while selling prices rise in the local market to close to the barrier in 1300***
see them stabilizing the street value to the cbi rate...as it should be, setting the price at 1200 to 1 usd for street value, telling the people if someones selling it for more than that and if its one of the registered companys with the cbi then the cbi says make a complaint an they will deal with it,
but if u choose to buy usd from someone not on the cbi list of companys an u don't get a receipt for the transactions then its on u...
the cbi is being led by the imf right now and im lovein the progress and how theve stepped in an stepped up and makein the decisions for Iraq to bring them outta the funk theve got themselves into...very exciting news these days ....finally ...BL
RCS1947 yes it is exciting to see progress and reforms in many different areas...thank you BondLady!
tlm724 diff source
Central: procedures in determining the dollar goal rationing sell
07/06/2016 11:25 The Central Bank, on Tuesday, that the procedures on determining the dollar goal rationing sell, asking all employees domain banking to abide by his decision on the sale at a price of 1200 dinars to the dollar.
The director of the banking and credit control Ihsan Shomran Yasiri in an interview that "a bank to fixing dollar selling price of 1,200 dinars comes to codify and rationalize sell , "noting that" citizens can , who are forced to buy the dollar for more than its price have submitted complaints to the Central Bank to be paid by the bank account and the firms conversion done Baaah more than the specified price. "
he continued Yasiri on" citizens can get the dollar registered as a follow - up and accountability of institutions in case bucked the FAQ , "pointing out that" the citizen who allows himself to deal with parties unknown and unregistered , not given a receipt , he wasted a chance accounting and re - rights. "
he called Yasiri all employees domain banking b "commitment decision because the country is fighting , " pointing out that "some of them are indifferent to what is happening in the country."
http://ift.tt/1Y6lxFx
tlm724 June 7, 2016 Central Bank calls on citizens to complain against the dollar sell them at more than 1,200 dinars
BAGHDAD - A Journal Called on the central bank, on Monday, the citizens not to be buying the dollar more than the price fixed in 1200 Iraqi dinars per dollar,
According to a statement of the bank received (Journal Nuez) a copy of it, "a confirmation of the directives and instructions for prices and foreign currency exchange, the CBI calls on citizens and merchants who pay more than the amount of 1200 dinars for the dollar and who have purchased from banks or remittance companies or exchange companies (cash or money orders or letters of credit), filed a complaint to the Central Bank with the payment arrived. "
The statement added, "It will be paid to the buyer teams increase by the central bank and deducted from the account of the seller (those above)." LINK
Therealbubbie I'm rich !!! Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy
[tlm724] here is a diff source
[tlm724] Central: procedures in determining the dollar goal rationing sell 07/06/2016 11:25 The Central Bank, on Tuesday, that the procedures on determining the dollar goal rationing sell, asking all employees domain banking to abide by his decision on the sale at a price of 1200 dinars to the dollar.
The director of the banking and credit control Ihsan Shomran Yasiri in an interview that "a bank to fixing dollar selling price of 1,200 dinars comes to codify and rationalize sell , "noting that" citizens can , who are forced to buy the dollar for more than its price have submitted complaints to the Central Bank to be paid by the bank account and the firms conversion done Baaah more than the specified price. "
[tlm724] guess I should say something too lol
[tlm724] The CBI is rationing the sale of the dollar which is the first step imo to stopping the auctions. They are finally taking control (hand held by the IMF as BL stated) of the money ! If they get rid of most of the 300 dealers /traders /banks what have you as they said they would then all the easier to control the flow of money
[tlm724] And if the officail rate is 1182 and the street rate is regulated and set at 1200 then that puts them within the 2% threshold for compliance for IMF article 8
[tlm724] it's an 18 pip difference
[tlm724] 2% of 1182 is 23.64 pips so well below the reguirement
[tlm724] *hallelujah* they are doing what we needed them to do ! All raods (the currency reform) lead to what we seek ! I am very excited Very Happy
[tlm724] *wolfwhistle* *mission* *kickA*
[RCS1947] great news day today!
[tlm724] RCS1947 yes !!
[cstacy] *hallelujah*
http://ift.tt/1Y6l9Xz
~~~~~~~~~~~~~~~~
Iraq gets initial accord for $3 billion Islamic Development Bank loans
The Islamic Development Bank has given its initial agreement to provide $3 billion in easy loans and grants to Iraq, helping the nation cope with a sharp decline in oil revenue, a central bank spokesman in Baghdad said Thursday in an email.
The spokesman did not give further details.
Iraq earlier this month agreed a $5.4 billion standby loan with the International Monetary Fund. Finance Minister Hoshyar Zebari, announcing the agreement on May 19, said the IMF loans could unlock $15 billion more in international assistance over the next three years.
Iraq's economy has been hit by the plunge in oil prices since mid-2014 and the country is expected to have a financing gap of $17 billion this year unless it can secure more funding, an IMF document obtained by Reuters showed. The cost of fighting Islamic State militants is another burden on the budget.
(Reporting by Maher Chmaytelli; Editing by Toby Chopra)
| June 6, 2016 at 9:55 pm | Categories: Reports & News | URL: http://wp.me/p4A3k0-Wz
Trouble clicking? Copy and paste this URL into your browser:
http://ift.tt/24wqoQu]
[tlm724] The Islamic Development Bank has given its initial agreement to provide $3 billion in easy loans and grants to Iraq,
[tlm724] 3 billion is nothing to sneeze at, good deal keep the money flowing !
http://ift.tt/1Y6kHsp
~~~~~~~~~~~~~~~~
As Iraq repays debt, Lukoil pledges to unlock investment
A fuel price board is pictured at a Lukoil petrol station in the West Siberian city of Kogalym, Russia, January 25, 2016. Picture taken January 25, 2016. REUTERS/Sergei Karpukhin
Iraq has positively surprised oil majors by starting quickly to repay accumulated debts, the head of Russia's Lukoil said, pledging more investment to allow OPEC's second-largest producer to maintain stellar output growth.
Iraq has become the world's fastest-growing oil producer with output up 50 percent since it signed contracts worth tens of billions of dollars with the likes of Lukoil, BP, Exxon Mobil and Royal Dutch Shell at the end of the last decade to help develop its huge oilfields.
But growth in production to around 4.5 million barrels per day (bpd) has lagged initial plans as oil majors have repeatedly complained about red tape, poor security and rising debts.
Debt repayment to majors for their investments has slowed even further over the past two years as oil prices collapsed - but Vagit Alekperov, the chief executive and a major shareholder of Lukoil, said the situation was changing.
"Iraq is very actively repaying the operators. The situation has changed dramatically," Alekperov told Reuters in an interview on the sidelines of an OPEC meeting in Vienna where he met several of the organization's ministers and officials.
Hit by low oil prices, Iraq is expected to have a financing gap of $17 billion this year unless it can secure more funding, according to the International Monetary Fund. The cost of fighting Islamic State militants is another burden.
In May, Iraq reached a $5.4 billion standby agreement with the IMF that could unlock $15 billion more in international assistance over the next three years.
"We know about the IMF talks and we know that the IMF makes it conditional for Iraq to pay back the contractors," Alekperov said.
"We hope they pay back all debts by November so we can start a new investment cycle before the end of the year. Our long-term Iraqi production goal remains intact - 1.2 million barrels per day. Iraqi fields have huge potential."
Lukoil is producing 0.4 million bpd in Iraq and if it did triple output at the West Qurna field, the country would be able to produce more than 5 million bpd.
Only Russia, Saudi Arabia and the United States produce more oil - more than 10 million bpd each. Iraq ultimately hopes to close the gap and extract as much as 8 million bpd from its huge reserves, the world's fifth-largest after Venezuela, Saudi Arabia, Canada and Iran.
DRILLING FRENZY
Alekperov said he hoped Tehran would reveal details of new exploration contracts with majors, which have been waiting for them for over two years, before the end of 2016 to spur investment. He said Lukoil was ready to invest billions.
Elsewhere, he said he was waiting for Mexico to tender contracts for developing its offshore and heavy-oil deposits.
Alekperov said he expected production to rise further in countries such as Saudi Arabia, Iran and Iraq while poorer OPEC members with higher production costs would struggle due to their more difficult economic situation.
"Neither Nigeria nor Venezuela are capable of raising production at the moment," he said.
The collapse in oil prices has led to a huge drop in investment across the world, amounting to $300 billion last year and $100 billion in the first quarter of this year alone, according to Alekperov.
"The consequences will be big. A spike in prices in the future could be very significant".
In Russia, where companies have benefited from a rouble depreciation following the fall in oil prices, Lukoil wants to raise drilling volumes by as much as 25-35 percent this year to keep output steady.
Alekperov expects most other Russian companies to do the same to compensate for declining output at mature fields in Western Siberia.
Lukoil has also expressed interest in buying smaller rival Bashneft. The government wants to sell the firm to plug budget holes in a rare privatization move by the Kremlin, which spent the past 15 years raising state control in the oil industry.
"We haven't done any bidding yet. We haven't seen any documents on Bashneft that we can study ... What matters to us is good economics, not production volumes."
Executing the sale in a transparent and open manner with banks coordinating the process is key for the government to send a strong message to investors, Alekperov said: "It would signal a new era for the development of the private sector in Russia".
Commenting on the statement , media advisor to Acer Jabbar bank said in a press statement that " the bank will direct sanctions against those offending is preventing them from getting into the daily auctions to sell thedollar , which held".
the Iraqi central bank sold dollars to companies registered in the amount of about 1160 dinars to the US dollar while selling prices rise in the local market to close to the barrier in 1300.
http://ift.tt/24wqZlh
Bondlady ***the Iraqi central bank sold dollars to companies registered*** in the amount of*** about 1160 dinars***Wink to the US dollar while selling prices rise in the local market to close to the barrier in 1300***
see them stabilizing the street value to the cbi rate...as it should be, setting the price at 1200 to 1 usd for street value, telling the people if someones selling it for more than that and if its one of the registered companys with the cbi then the cbi says make a complaint an they will deal with it,
but if u choose to buy usd from someone not on the cbi list of companys an u don't get a receipt for the transactions then its on u...
the cbi is being led by the imf right now and im lovein the progress and how theve stepped in an stepped up and makein the decisions for Iraq to bring them outta the funk theve got themselves into...very exciting news these days ....finally ...BL
RCS1947 yes it is exciting to see progress and reforms in many different areas...thank you BondLady!
tlm724 diff source
Central: procedures in determining the dollar goal rationing sell
07/06/2016 11:25 The Central Bank, on Tuesday, that the procedures on determining the dollar goal rationing sell, asking all employees domain banking to abide by his decision on the sale at a price of 1200 dinars to the dollar.
The director of the banking and credit control Ihsan Shomran Yasiri in an interview that "a bank to fixing dollar selling price of 1,200 dinars comes to codify and rationalize sell , "noting that" citizens can , who are forced to buy the dollar for more than its price have submitted complaints to the Central Bank to be paid by the bank account and the firms conversion done Baaah more than the specified price. "
he continued Yasiri on" citizens can get the dollar registered as a follow - up and accountability of institutions in case bucked the FAQ , "pointing out that" the citizen who allows himself to deal with parties unknown and unregistered , not given a receipt , he wasted a chance accounting and re - rights. "
he called Yasiri all employees domain banking b "commitment decision because the country is fighting , " pointing out that "some of them are indifferent to what is happening in the country."
http://ift.tt/1Y6lxFx
tlm724 June 7, 2016 Central Bank calls on citizens to complain against the dollar sell them at more than 1,200 dinars
BAGHDAD - A Journal Called on the central bank, on Monday, the citizens not to be buying the dollar more than the price fixed in 1200 Iraqi dinars per dollar,
According to a statement of the bank received (Journal Nuez) a copy of it, "a confirmation of the directives and instructions for prices and foreign currency exchange, the CBI calls on citizens and merchants who pay more than the amount of 1200 dinars for the dollar and who have purchased from banks or remittance companies or exchange companies (cash or money orders or letters of credit), filed a complaint to the Central Bank with the payment arrived. "
The statement added, "It will be paid to the buyer teams increase by the central bank and deducted from the account of the seller (those above)." LINK
Therealbubbie I'm rich !!! Very Happy Very Happy Very Happy Very Happy Very Happy Very Happy
[tlm724] here is a diff source
[tlm724] Central: procedures in determining the dollar goal rationing sell 07/06/2016 11:25 The Central Bank, on Tuesday, that the procedures on determining the dollar goal rationing sell, asking all employees domain banking to abide by his decision on the sale at a price of 1200 dinars to the dollar.
The director of the banking and credit control Ihsan Shomran Yasiri in an interview that "a bank to fixing dollar selling price of 1,200 dinars comes to codify and rationalize sell , "noting that" citizens can , who are forced to buy the dollar for more than its price have submitted complaints to the Central Bank to be paid by the bank account and the firms conversion done Baaah more than the specified price. "
[tlm724] guess I should say something too lol
[tlm724] The CBI is rationing the sale of the dollar which is the first step imo to stopping the auctions. They are finally taking control (hand held by the IMF as BL stated) of the money ! If they get rid of most of the 300 dealers /traders /banks what have you as they said they would then all the easier to control the flow of money
[tlm724] And if the officail rate is 1182 and the street rate is regulated and set at 1200 then that puts them within the 2% threshold for compliance for IMF article 8
[tlm724] it's an 18 pip difference
[tlm724] 2% of 1182 is 23.64 pips so well below the reguirement
[tlm724] *hallelujah* they are doing what we needed them to do ! All raods (the currency reform) lead to what we seek ! I am very excited Very Happy
[tlm724] *wolfwhistle* *mission* *kickA*
[RCS1947] great news day today!
[tlm724] RCS1947 yes !!
[cstacy] *hallelujah*
http://ift.tt/1Y6l9Xz
~~~~~~~~~~~~~~~~
Iraq gets initial accord for $3 billion Islamic Development Bank loans
The Islamic Development Bank has given its initial agreement to provide $3 billion in easy loans and grants to Iraq, helping the nation cope with a sharp decline in oil revenue, a central bank spokesman in Baghdad said Thursday in an email.
The spokesman did not give further details.
Iraq earlier this month agreed a $5.4 billion standby loan with the International Monetary Fund. Finance Minister Hoshyar Zebari, announcing the agreement on May 19, said the IMF loans could unlock $15 billion more in international assistance over the next three years.
Iraq's economy has been hit by the plunge in oil prices since mid-2014 and the country is expected to have a financing gap of $17 billion this year unless it can secure more funding, an IMF document obtained by Reuters showed. The cost of fighting Islamic State militants is another burden on the budget.
(Reporting by Maher Chmaytelli; Editing by Toby Chopra)
| June 6, 2016 at 9:55 pm | Categories: Reports & News | URL: http://wp.me/p4A3k0-Wz
Trouble clicking? Copy and paste this URL into your browser:
http://ift.tt/24wqoQu]
[tlm724] The Islamic Development Bank has given its initial agreement to provide $3 billion in easy loans and grants to Iraq,
[tlm724] 3 billion is nothing to sneeze at, good deal keep the money flowing !
http://ift.tt/1Y6kHsp
~~~~~~~~~~~~~~~~
As Iraq repays debt, Lukoil pledges to unlock investment
A fuel price board is pictured at a Lukoil petrol station in the West Siberian city of Kogalym, Russia, January 25, 2016. Picture taken January 25, 2016. REUTERS/Sergei Karpukhin
Iraq has positively surprised oil majors by starting quickly to repay accumulated debts, the head of Russia's Lukoil said, pledging more investment to allow OPEC's second-largest producer to maintain stellar output growth.
Iraq has become the world's fastest-growing oil producer with output up 50 percent since it signed contracts worth tens of billions of dollars with the likes of Lukoil, BP, Exxon Mobil and Royal Dutch Shell at the end of the last decade to help develop its huge oilfields.
But growth in production to around 4.5 million barrels per day (bpd) has lagged initial plans as oil majors have repeatedly complained about red tape, poor security and rising debts.
Debt repayment to majors for their investments has slowed even further over the past two years as oil prices collapsed - but Vagit Alekperov, the chief executive and a major shareholder of Lukoil, said the situation was changing.
"Iraq is very actively repaying the operators. The situation has changed dramatically," Alekperov told Reuters in an interview on the sidelines of an OPEC meeting in Vienna where he met several of the organization's ministers and officials.
Hit by low oil prices, Iraq is expected to have a financing gap of $17 billion this year unless it can secure more funding, according to the International Monetary Fund. The cost of fighting Islamic State militants is another burden.
In May, Iraq reached a $5.4 billion standby agreement with the IMF that could unlock $15 billion more in international assistance over the next three years.
"We know about the IMF talks and we know that the IMF makes it conditional for Iraq to pay back the contractors," Alekperov said.
"We hope they pay back all debts by November so we can start a new investment cycle before the end of the year. Our long-term Iraqi production goal remains intact - 1.2 million barrels per day. Iraqi fields have huge potential."
Lukoil is producing 0.4 million bpd in Iraq and if it did triple output at the West Qurna field, the country would be able to produce more than 5 million bpd.
Only Russia, Saudi Arabia and the United States produce more oil - more than 10 million bpd each. Iraq ultimately hopes to close the gap and extract as much as 8 million bpd from its huge reserves, the world's fifth-largest after Venezuela, Saudi Arabia, Canada and Iran.
DRILLING FRENZY
Alekperov said he hoped Tehran would reveal details of new exploration contracts with majors, which have been waiting for them for over two years, before the end of 2016 to spur investment. He said Lukoil was ready to invest billions.
Elsewhere, he said he was waiting for Mexico to tender contracts for developing its offshore and heavy-oil deposits.
Alekperov said he expected production to rise further in countries such as Saudi Arabia, Iran and Iraq while poorer OPEC members with higher production costs would struggle due to their more difficult economic situation.
"Neither Nigeria nor Venezuela are capable of raising production at the moment," he said.
The collapse in oil prices has led to a huge drop in investment across the world, amounting to $300 billion last year and $100 billion in the first quarter of this year alone, according to Alekperov.
"The consequences will be big. A spike in prices in the future could be very significant".
In Russia, where companies have benefited from a rouble depreciation following the fall in oil prices, Lukoil wants to raise drilling volumes by as much as 25-35 percent this year to keep output steady.
Alekperov expects most other Russian companies to do the same to compensate for declining output at mature fields in Western Siberia.
Lukoil has also expressed interest in buying smaller rival Bashneft. The government wants to sell the firm to plug budget holes in a rare privatization move by the Kremlin, which spent the past 15 years raising state control in the oil industry.
"We haven't done any bidding yet. We haven't seen any documents on Bashneft that we can study ... What matters to us is good economics, not production volumes."
Executing the sale in a transparent and open manner with banks coordinating the process is key for the government to send a strong message to investors, Alekperov said: "It would signal a new era for the development of the private sector in Russia".
Source: Reuters, June 3, 2016
http://ift.tt/1XohPJ5
(Reporting by Dmitry Zhdannikov; Editing by Dale Hudson)
| June 6, 2016 at 9:31 pm | Categories: Oil & Gas Policy, Reports & News | URL: http://ift.tt/1Y6kKEB]
Trouble clicking? Copy and paste this URL into your browser:
http://ift.tt/24wqRSC]
[tlm724] "We know about the IMF talks and we know that the IMF makes it conditional for Iraq to pay back the contractors," Alekperov said. "We hope they pay back all debts by November so we can start a new investment cycle before the end of the year. Our long-term Iraqi production goal remains intact - 1.2 million barrels per day. Iraqi fields have huge potential."
[tlm724] so we can start a new investment cycle before the end of the year, sweet !
[tlm724] we aren't the only ones with renewed hope from the IMF taking control, a huge oil company (Lukoil) also has hope as do MANY other investors !
http://ift.tt/1Y6m3n1
~~~~~~~~~~~~~~~~
http://ift.tt/1XohPJ5
(Reporting by Dmitry Zhdannikov; Editing by Dale Hudson)
| June 6, 2016 at 9:31 pm | Categories: Oil & Gas Policy, Reports & News | URL: http://ift.tt/1Y6kKEB]
Trouble clicking? Copy and paste this URL into your browser:
http://ift.tt/24wqRSC]
[tlm724] "We know about the IMF talks and we know that the IMF makes it conditional for Iraq to pay back the contractors," Alekperov said. "We hope they pay back all debts by November so we can start a new investment cycle before the end of the year. Our long-term Iraqi production goal remains intact - 1.2 million barrels per day. Iraqi fields have huge potential."
[tlm724] so we can start a new investment cycle before the end of the year, sweet !
[tlm724] we aren't the only ones with renewed hope from the IMF taking control, a huge oil company (Lukoil) also has hope as do MANY other investors !
http://ift.tt/1Y6m3n1
~~~~~~~~~~~~~~~~
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