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Established in 2006 as a Community of Reality

Welcome to the Neno's Place!

Neno's Place Established in 2006 as a Community of Reality


Neno

I can be reached by phone or text 8am-7pm cst 972-768-9772 or, once joining the board I can be reached by a (PM) Private Message.

Established in 2006 as a Community of Reality

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Established in 2006 as a Community of Reality

Many Topics Including The Oldest Dinar Community. Copyright © 2006-2020


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    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    lonelyintexas
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    • Post n°1

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    Post by lonelyintexas Tue 27 Jan 2015, 9:05 am

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55


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    Long-Presse / Baghdad Iraqi cabinet decided on Tuesday, reducing the price of a barrel of oil calculated in the general budget in 2015 from $ 60 to $ 55, as he emphasized that this reduction "closer" to the reality of global markets.

    The council said in a statement received (range Press), a copy of "The cabinet decided during its meeting today, reducing the price of a barrel of oil calculated budget of $ 60 to $ 55."

    The statement added that "This reduction is necessary to make the Iraqi oil prices closer to the reality of global markets, as well as to facilitate it to pass the budget bill."


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    weslin3
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    • Post n°2

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Re: Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    Post by weslin3 Tue 27 Jan 2015, 9:22 am

    Thought this was already agreed upon.
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    • Post n°3

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Re: Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    Post by Neno Tue 27 Jan 2015, 9:24 am

    Better than $60, should, now lower the the deficit predictions even tho, $50 would of been better for,that reason.
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    day dreamer
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    • Post n°4

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Parliamentary Finance cut its forecast for the price of oil to $ 55 and the central budget financed

    Post by day dreamer Tue 27 Jan 2015, 10:13 pm

    28/01/2015 (00:01 pm) - The number of readings: 60 - Issue (3273)


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    [ltr]Parliamentary Finance cut its forecast for the price of oil to $ 55 and the central budget financed 6 trillion dinars [/ltr]


    BAGHDAD - London / long term - Press - Reuters


    [ltr]The parliamentary committee in charge of reviewing the draft general budget for Iraq for the current 2015 announced that it had approved $ 55 dollars for a barrel of oil instead of $ 60 as previously planned in order to reduce the Agr and of about $ 40 billion. During the parliament session in Baghdad yesterday Monday MP Ahmad Chalabi, head of the Finance Committee was briefed on the latest findings of the discussions on the federal budget, which pointed out that the Commission has worked to address the current economic crisis, pointing out that the amount of employees and retirees salaries of up to 51 trillion dinars ( about $ 46 billion), which means the need for Iraq to export 2.9 million barrels of oil per day at a price of $ 40 to cover the payroll.  As the budget 17% of its value to the Kurdistan region proved that the disposal of the Iraqi Ministry of Defense salaries Kurdish Peshmerga forces.
     Chalabi said that the budget allocated for security and defense 31 trillion dinars (about US $ 26 billion) as the oil ministry asked 14 trillion dinars ($ 12 billion) in investment budget in addition to the need to allocate funds for the crowd of popular volunteers against "Daash" and displaced totaling more than half million households (2.1 million people) hoping to obtain a budget to parliament authentication project when it was introduced to a vote on Thursday.
    With some lawmakers said that he was a new reduction of the value of the budget for up to $ 85 billion instead of $ 103 billion, which was previously scheduled for the impact of the reduction, which was the first out of the value of $ 150 billion.  In order to reassure the public fears of the impact of these cuts on the needs of the living and the services provided to them was the parliament speaker Salim al-Jubouri said that the budget cuts will not affect employees or retirees or social protection network in addition to the salaries of the ministries of defense and health allocations. [rtl]وب[/rtl] Government and the girl in the preparation of the budget previously on the basis of a price of $ 60 per barrel of oil, but oil prices recently fell to below $ 48 a barrel now forced her to adopt the $ 55 per barrel.
    For his part, decided the Iraqi Central Bank, on Tuesday, the financing of the financial budget for the current year 2015, six trillion Iraqi dinars, and as he emphasized his agreement to a set of proposals to address the "fiscal challenge," in Iraq, he pointed out that these actions "do not affect the Bank's Special Reserve." 
    He said the Iraqi Central Bank said in a statement, and received a "long-Presse," a copy of it, "in line with the central bank tasks and responsibility in supporting the development and stimulate the Iraqi economy and in light of the financial challenges faced by the country, the Board of the Central Bank Board of Directors approved the inter proposals put forward by management Bank ".
    The statement added that "among the proposals is to support the liquidity of specialized commercial banks in the amount of (5) five trillion dinars to enable them to provide loans to industrial and agricultural and providing housing and real estate loans in support of economic activity and job creation, as well as financing the state budget loan amount (6) six trillion dinars run through 50% of the commercial banks' reserves deposited with the Central Bank of Iraq. "
    The statement pointed out that "the Board of Directors approved the repurchase of treasury bonds from the secondary market, where the central bank will buy about five (5) trillion dinars, the first of those bonds as a stage," asserting that "these actions do not affect the Central Bank of Iraq's Special Reserve."
    The price of a barrel of oil «OPEC» basket of crudes has recorded a decline, on Tuesday at the start of trading this week, as it came to $ 42.90.
    And announced the Secretariat for «Organization of Petroleum Exporting Countries» (OPEC), in a statement yesterday, the price of their products basket, which includes 12 types of crude oil, fell by $ 0.79, yesterday, compared with the close of the previous session, while crude Brent blend «Brent», delivered March next, shone in early trading yesterday to $ 47.90 a barrel in the futures market, a decline of 0.54 percent compared to the close of Table «OPEC» does not rule out the price of a barrel of oil to $ 200 
    On the other hand did not rule out the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Abdullah al-Badri that the price of a barrel of oil up to $ 200 if oil investments fell under low oil prices remain at current levels.
    Badri did not specify the length of time needed for the price until it reaches $ 200, but stressed that the majority of OPEC investments in the upstream sector of the oil and gas production is still continuing with the current price is below $ 50 a barrel, and a few of them may be scrapped.
    He explained Badri in an interview with Bloomberg in London that the oil market is witnessing a surplus estimated at 1.5 million barrels per day, but he returned to say that this surplus will be corrected through supplies decline, not in terms of increasing demand, in an indication that lower prices will lead to a drop in production for some producers, which aims to the organization through the recent decision to maintain the production ceiling as it is. 
    Badri said in his interview yesterday that OPEC will return eventually to play the role of «the product is likely» in the global oil market, which means that OPEC after the end of the current crisis resulting from the imbalance in the balance of the market may be due to lower production to support prices. 
    On the other hand, Al-Badri said that increasing Iraq's production will not affect the balance of the market and will not contribute to the accumulation of surplus significantly, although to raise its production to 4 million barrels a day this year, Iraq's plans. 
    Badri was warned last week in Davos that oil prices remain at their current level low will affect investments in production and if the oil has not seen suitable investments over the next 5 years, the prices will rise inevitably to $ 100 again.



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    weslin3
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    • Post n°5

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Re: Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    Post by weslin3 Tue 27 Jan 2015, 10:56 pm

    So it is around $46 now. That misses it about $10 a barrell currently. Could be a problem?
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    • Post n°6

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Re: Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    Post by Neno Wed 28 Jan 2015, 8:38 am

    weslin3 wrote:So it is around $46 now. That misses it about $10 a barrell currently. Could be a problem?
    Build restructuring to Pump MORE!!.. Until other ways are established. Seems logic looking in from the outside... laugh
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    weslin3
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    • Post n°7

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Re: Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    Post by weslin3 Wed 28 Jan 2015, 8:45 am

    Thanks Neno for your comment.....
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    • Post n°8

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Re: Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    Post by CITEX Wed 28 Jan 2015, 1:40 pm

    So with that amount of a deficit in the money, they need to be exporting about 21% more oil to cover the difference, I am speculating that they expect to be at that level pretty soon if they are comfortable establishing a budget set at the $55 number
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    weslin3
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    • Post n°9

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Re: Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

    Post by weslin3 Wed 28 Jan 2015, 6:12 pm

    Today oil at 44... something.
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    • Post n°10

    Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55 Empty Re: Cabinet agrees to reduce the price of a barrel of oil calculated in the budget to $ 55

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