1000 Daash in the grip of Iraqi forces

mosul
Strategic expert Ihsan al-Shammari revealed Thursday, the presence of more than 1000 members of Daesh criminal gangs with Iraqi authorities, adding that they are divided between foreigners of different nationalities and Iraqis.

Al-Shammari said in a press statement that “military operations against Daesh gangs and groups in Mosul have killed hundreds of them, as well as wounding more than 850 Daash two weeks, but the progress made in the ongoing liberalization east coast operations have raised the proportion of prisoners of those gangs for Iraqi authorities to more than 1000.”

He added that “these criminals are divided between foreigners of different nationalities, including Arab, as well as Iraqi elements who make up the majority,” pointing out that “the judiciary intends trial in accordance with the military laws in the coming period.”

Iraqi troops approached impose its control fully on the east coast while preparing to enter the west coast, the center is almost entirely surrounded on all axes after the killing and capture all the elements of Daesh who were inside the city.

Buratha News Agency

GE wins $1.4B power project contracts in Iraq

ge
General Electric (GE) has secured more than $1.4 billion in orders from Iraq’s Ministry of Electricity to set up power plants as well as provide technology upgrades and maintenance services.

The announcement further strengthens GE’s collaborations in Iraq to support the country’s power infrastructure and meet the growing need for electricity.

These new agreements that will add over two gigawatts (GW) of power and secure the delivery of 1.75% GW of existing power to the national grid.

As per the deal, GE will set up the Samawa and Dhi Qar Power Plants, adding 1,500 megawatts (MW) to the grid. In the first phase of the project, the company will install four 9E gas turbines in simple cycle at each site by 2018.

The second phase will entail the combined cycle conversion of the 9E units.

GE will also be supplying advanced heat recovery steam generators (HRSG) and steam turbine technology besides serving as the engineering, procurement and construction (EPC) contractor for the projects.

Under Phase II of the Power Up Plan – a plan with the Iraqi Ministry of Electricity (MoE) for critical electricity generation and maintenance projects throughout the country – GE will add over 580 megawatts (MW) to the national grid through upgrade and rehabilitation works at four power plants.

Additionally, under Power Up Plan Phase II, the technology giant will sustain %1.75 GW of existing power generation through the maintenance of 9E gas turbines across six different power plants in Iraq. The activities will help enhance the reliability and efficiency of Iraq’s installed base.

Steve Bolze, president & chief executive of GE Power, said today’s announcement builds on GE’s successful delivery of more than 700 megawatts (MW) of additional power through existing power generation infrastructure to the national grid last year as part of the Power Up Plan’s Phase I.

The company is already working with regional and international institutions to facilitate financing to help the Government of Iraq execute these and other projects.

Since 2016, it has helped the country secure $2 billion in financing for projects in the energy sector leveraging its global sourcing capabilities coupled with its strong relationships with lenders.

Musaab Al-Mudarris, official spokesman, Iraqi Ministry of Electricity, said: “Today’s announcement with GE is another strong statement on our commitment to strengthen the nation’s power infrastructure. We are focused on delivering reliable, uninterrupted and efficient electricity supply for both residential and commercial use.”

“With demand for electricity increasing every year, a transformational approach is required that is led by new projects and technology upgrades,” he noted.

“We are pleased to be working in collaboration with the Ministry of Electricity to continue to help provide power to the people of Iraq,” said Bolze.

“Using GE’s expanded portfolio of technologies and solutions, this project will provide more reliable and sustainable electricity for the country to help achieve better operations and higher levels of efficiency,” he added.

GE has over 40 years of presence in Iraq, and supports the country’s infrastructure needs in power generation, oil & gas, water processing, aviation and healthcare, through diversified multi-business solutions and local presence.

Iraq Daily Journal

Shell signed a contract for drilling of new wells in oil field in southern Iraq

shell
Southern Oil Company announced on Thursday, Shell, which holds developing rights to Majnoon oil field, located in the province of Basra, has signed a contract with the company “Halliburton” requires digging a number of new oil wells in the field.

The company said in a statement responded to the Twilight News, “The company (Shell Iraq) signed a contract with (Halliburton) to drill 23 to 30 new oil wells in the Musharraf layer within the Majnoon oil field over a period of two to three years,” indicating that ” the contract was signed under the auspices of the southern oil company.”

The company said in its statement that “the importance of the contract is that it will lead to the development and production rates going up.”

The Majnoon field extends along the Iraqi-Iranian border, the third largest oil field in the world, the Iraqi Oil Ministry believes the stocks it contains up to 38 billion barrels.

The Ministry of Oil in 2010 contracted with a consortium led by the company (Shell) for the global development of the field, which currently produces 220 thousand barrels per day.

Twilight News

Statement by an IMF Mission on Iraq

The Iraqi authorities and the staff of the International Monetary Fund (IMF) held discussions in Baku, Azerbaijan from January 15–19, 2017 ahead of the second review of Iraq’s 36-month Stand-By Arrangement (SBA) that the IMF Executive Board approved on July 7, 2016. The first review under the SBA was completed on December 5, 2016.

Mr. Christian Josz, Mission Chief for Iraq, issued the following statement:

“The Iraqi authorities have made good progress on implementing economic reforms under the SBA.

“The Iraqi authorities and IMF staff will hold discussions on the second review of the SBA in March 2017.

“During the discussions, the team met with Acting Governor of the Central Bank of Iraq (CBI), Dr. Ali Mohsen Ismail Al-Allaq, Deputy Finance Minister, Dr. Fadhil Nabee Othman, the Financial Adviser to the Prime Minister Dr. Mudher Saleh, and officials from the ministry of finance, the CBI, the ministry of planning, the ministry of oil, the State Oil Marketing Organization, the Central Statistical Office and representatives from the Kurdistan Regional Government. The team would like to thank the Iraqi authorities for their cooperation and the open and productive discussions.”

IMF Communications Department

Government of Iraq Issues $1 Billion Sovereign Bond with U.S. Guarantee

usa

Today, the Republic of Iraq successfully closed on its offering of a $1 billion sovereign bond issuance guaranteed by the United States of America.

This loan guarantee underscores the strong and enduring commitment of the United States to support the government of Iraq in this critical moment in the fight against Da’esh. As part of a comprehensive international assistance package – anchored by an International Monetary Fund-supported reform program – this guarantee provides Iraq access to low-cost financing essential to delivering critical services to all the people of Iraq, while laying the foundation for long-term stability and growth through economic and institutional reforms.

Today’s issuance of a $1 billion, five-year Iraqi sovereign bond on international markets is backed by a 100 percent guarantee by the U.S. government of the repayment of principal and interest, and was priced at a coupon rate of 2.149 percent.

U.S. State Department

High liquid gas production to 5,350 tons per day

gas
Oil Minister Ali Jabbar Luaibi announced on Tuesday that Iraq’s production rate of liquid gas to 5,350 tons per day.

Luaibi said in a press statement responded to the Twilight News, said that “this great achievement comes thanks to the workers efforts in the oil ministry.”

He explained that “this increase in production rates of liquid gas led to an increase in investment rates of up to 1300 million standard cubic feet per day.”

Luaibi pointed out that “the ministry past efforts to optimize the investment of the associated gas, particularly in the reduction of burning through the production processes of the operations in the oil fields.”

Iraq had achieved self-sufficiency in gas last year, produced 5,000 tons per day before it begins later export surpluses.

Twilight News

Hosseinieh threshold signs Memorandum of Understanding with British company for the establishment of Karbala International Airport

airport
Hosseinieh threshold announced Tuesday that it has signed a memorandum of understanding with a British company to set up Karbala International Airport, indicating that the cost of the project amounted to $500 million.

The director Engineer Fawzi Shahir in an interview with Alsumaria News “Husseinia threshold signed a memorandum with the British Cooper Jess company to set up Karbala International Airport within 10 days of the conclusion of the agreement.”

Shahir, adding that “the memorandum stated that the British company set up airport duration of completion 18 months, at a cost of $500 million as a first stage.”

The Department of Transportation had signed in 2014 with the General Secretariat of the Hosseinieh threshold a memorandum of understanding for the establishment of Imam Hussein airport in Karbala in three-stages, passenger traffic of 15 to 20 million passengers per year.

Alsumaria.tv

2017 budget enters into force

budget
The Ministry of Justice announced in special issue of the Official Gazette of Iraq’s facts number {4430 federal budget for fiscal year 2017 Act}.

The director general of the facts of Iraq circuit Shatha Abdul Malik in a statement issued by the Ministry of Justice and the agency {Euphrates News} received a copy of it on Tuesday that “the new issue of the official gazette included in the first chapter the general budget for the current year revenue of {79,011,421,000,000} Seventy-nine Trillion, eleven Billion and four hundred twenty-one Million dinars.”

She explained that “the budget law also included, to calculate the realized budget from crude oil export revenues on the basis of the ability of rate {42}, forty-two dollars per barrel rate of export of {3750000} three million seven hundred and fifty thousand barrels per day, including {250000} two hundred and fifty thousand bpd from product quantities of crude oil in the Kurdistan region and {3000} barrels of Kirkuk province, fields, according to the price of {1182} exchange dinars per dollar, that all revenue actually a final revenue of the public treasury for dollar account.

Euphrates News

The central bank issued new instructions selling the dollar

usd

Association of private banks revealed on Tuesday, the Central Bank of Iraq issued new instructions to regulate the process of selling the dollar to cover the imports of the private sector.

A statement of the Association of banks, the agency {Euphrates News} received a copy of it today, that “the directive was intended to maintain the dinar’s exchange rate against the dollar, the fight against money laundering and maintaining foreign currency,” noting that “the Iraqi Central Bank issued new instructions to regulate the sale of dollar transactions for the purposes of coverage of imports by the private sector.”

Added that “the instructions regarding the organization of the dollar insurance operations for the purposes of issuing money orders and opening letters of credit trends by Iraqi banks, which mediates between the importer and the central bank directly,” explaining that “instruction stresses the need to achieve the main objective of the Central Bank is to know the ultimate beneficiary and the preservation of hard currency through the optimal use of what serves the national economy and sustainable development.”

Noting that the “instruction came after the classification by the Central Bank for banks into groups based on the efficiency of the compliance of anti-money laundering and risk management units available in banks and liquidity,” stressing that “the new regulations flowing toward the central objectives of the central bank and the banking sector of Iraq to maintain the dinar’s exchange rate against the the dollar and stimulate banks to work with high transparency and a large commitment to comply with rules and regulations of the law of money laundering and terrorism financing No. 39 of 2015”.

Pointing out that “the Iraqi private banks association is keen to apply the central bank instructions and urges banks to increase their role in achieving economic development and the preservation of the dollar, which would contribute to restoring confidence in the banking sector during the current year and post Daesh.”

Calling on banks operating in Iraq “continued cooperation with the Central Bank and the fulfillment of all the requirements set forth in the instructions and to contribute to the success of his future plans that are in the national economy.”

Euphrates News