Dinar Daily
Welcome to Dinar Daily Discussions.

Logging in with your USERNAME allows you to participate in discussions, see what has recently been posted, and other options. Guests can post but they do have limited abilities.

We are NOT a guru forum. We are a dinarian forum. The opinions expressed on the forum do not reflect the of opinion of Dinar Daily specifically, but rather reflect the views of the individual posters only.

Disclamer:

We are in compliance with, "Copyright Disclaimer Under Section 107 of the Copyright Act 1976, allowance is made for "fair use" for purposes such as criticism, comment, news reporting, teaching, scholarship, and research. Fair use is a use permitted by copyright statute that might otherwise be infringing. Non-profit, educational or personal use tips the balance in favor of fair use."




Join Us for Dinar Discussions and More -- We Keep it REAL
 
HomeSearchMemberlistFAQLog inRegister
Help Us Drain the SWAMP in DINARLAND

REPORT TONY RENFROW for violating his Court Order to stay away from Dinar -

Judge's email: ksd_murguia_chambers@ksd.uscourts.gov
PHONE - 913-735-2340

DA's email: Scott.Rask@usdoj.gov
PHONE - 913-551-6730
DINAR INFORMATION LINKS

PARTNER SITES
Key Words
Adam Montana, AdminBill, Benjamin Fulford, Currency Exchange, David Schmidt, Dinar, Dinar Guru, Dinar Recaps, Dinar Rv, Dinar Scam, Dr Clarke, Frank26, Gary Larrabee, Gurus, Guru Hunters, JerzyBabkowski, Kaperoni, Kenny, Monetary Reform, Mnt Goat, My Ladies, Okie, Poppy, RamblerNash, Ray Renfrow, Redenomination, Revaluation, Ssmith, TNTBS, Tnt Tony, WING IT, We Are The People, Willis Clark, WSOMN, Yosef, Zap
Share | 
 

 A new mechanism to ensure the stability of Iraq's oil revenues

Go down 
AuthorMessage
RamblerNash
GURU HUNTER
GURU HUNTER
avatar

Posts : 12657
Join date : 2015-02-19

PostSubject: A new mechanism to ensure the stability of Iraq's oil revenues   Sun Jul 22, 2018 12:33 pm

A new mechanism to ensure the stability of Iraq's oil revenues



Headquarters of the oil marketing company "Sumo"
 
07/22/2018
 
Economy News Baghdad

The Iraqi Trade Bank ( TBI ) and the National Oil Marketing Company (SOMO) are holding talks to adopt a new mechanism to protect Iraq's revenues from oil price fluctuations in the global market.

"The oil is a commodity and any commodity that is priced for sale, is exposed to fluctuations in prices in the global market, as it depends on supply and demand by producers and buyers," Faisal Al-Hims, general manager of the bank, told Al-Sabah newspaper. "He said.

"In the case of many supplies, prices are low, and on the basis of which the approved countries will be affected by their budgets on the revenues derived from this commodity, therefore affected development rates and projects and the needs of those countries, but if the supply is reduced, it increases prices."

And to create a balance and not to affect the oil-producing countries, especially Iraq, based on oil revenues in support of its annual budget and to ensure that these countries are not affected by fluctuations in prices, the Director-General noted that resort to a mechanism called (hedging), agreeing to provide supplies in certain quantities against a fixed price under contracts concluded Between the producer and the buyer, through a bank or financial institution licensed, taking into account the risk of price fluctuations and reflect them at a fair price between the parties (producer and buyer).

Iraq will work on this mechanism for the first time in cooperation between the National Oil Marketing Company (SOMO) and the Iraqi Bank for Trade ( TBI ) under the supervision of the Ministry of Oil, to follow the mechanism of hedging for oil, according to Hymes, stressing that "there is useful to provide the amounts and revenues that support the annual budget of the country away from Fluctuations of oil prices in the global market. "

http://economy-news.net/content.php?id=12959
Back to top Go down
View user profile Online
 
A new mechanism to ensure the stability of Iraq's oil revenues
Back to top 
Page 1 of 1

Permissions in this forum:You cannot reply to topics in this forum
Dinar Daily :: DINAR/IRAQ -- NEWS -- GURUS and DISCUSSIONS :: IRAQ and DINAR -- ARTICLE BASED INFORMATION and DISCUSSIONS-
Jump to: