Thread: Archive News - Iraqi Dinar Think Tank - 06/10/2010 - 24/01/2011

The announcement of the discovery of new oil field in Maysan

announced oil exploration in the province of Maysan, the discovery of new oil field is expected to reach treasury about 15 billion barrels.

The Chairman of the Energy Commission in the province of Maysan Amer Nasrallah, in a press statement that the discovery new oil is located in the field of Dujail, north-west city of Amara, which is one of the fields in common with the provinces of Wasit, Dhi Qar, but 75% of its area located within the territory of the province of Maysan.

The Director-General of the Maysan Oil Company Ali Qubool that inventories of oil discovered in the province of Maysan, which exceeded twenty billion barrels, is subject to change after three-dimensional surveys, currently being undertaken by his department and include different areas of the province.

He Qubool that benefit from the initial studies and geological information available there are developmental plan out each field of oil fields in Maysan: Bazerkan, and humorous, and Apogrb, and Halfaya, architecture, and Dujail, and Rifai, and Hovaiza border, and Mesopotamia, and some compositions discovered and produced, a combination Qal `at Salih , and Shoba, and auspicious.

The figures indicate the General Company for Oil Maysan province that is currently producing 100 thousand barrels of oil per day.

http://www.ipairaq.com/index.php?nam...onomy&id=31047

Iraq filled with opportunities - al-Hashemi

Iraq’s Vice President Tareq al-Hashemi said on Wednesday that Iraq is filled with opportunities and guarantees to investors, according to a statement of his office. This came during his participating in the 14th International Business Forum in Istanbul.

“The delay in forming the government affected taking several important economic and financial decisions,” the statement quoted al-Hashemi as saying.

“We need a strong national government able to develop the economic and social life,” he added.

“We need everything in Iraq, without naming them I could easily say that opportunities are there, ready for Turkish businessmen across all sectors,” al-Hashemi said during a press conference. “Our banking system works through U.S. banks and I think Iraq needs the expertise and know-how of Turkey to create an efficient banking system,” he said.

“Turkey and Iraq have common goals in the region. Through cooperation, the potential of the region could serve the benefits of both nations,” al-Hashemi said.

http://en.aswataliraq.info/?p=137655

CBI dollar sales cap week with decrease to $87 million

The Central Bank of Iraq’s (CBI) dollar sales went down to $87.124 million in its daily auction on Thursday, compared to $116.511 million in the previous session.

“There was no demand on cash, while the foreign transfers outside the country reached $87.124 million, covered at an exchange rate of 1,179 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

http://en.aswataliraq.info/?p=137684

Baghdad up to the final solutions with Tehran on a joint fields

Revealed the Iraqi Oil Ministry had reached the Iraqi negotiating with Iran to the final solutions on joint oil fields.

The spokesman said ministry spokesman Asim Jihad said in a press statement that Iraq had reached an advanced stage with Iran over oil fields, four, oil bar and oil field in Abu Ghraib and the field Hawizeh and some from the fields of the change, pointing out that the negotiating committee was able to go a long way on this side and got rid of several obstacles encountered in the previous phase, leaving only the subject of international bodies that oversee the distribution of oil quotas for each party.

http://radionawa.com/Ar/NewsDetailN....731&LinkID=155

Baghdad is seeking to implement service projects funded by the petrodollar project early next year

Baghdad Provincial Council announced it is seeking to implement a number of service projects early next year with funding from the project petro dollars, indicating that the development proposals for their implementation will be agreed on one next week.

The head of the Council to maintain full-Zaidi in an interview with Alsumaria News that the Council develop proposals to implement a number of service projects funded by the petrodollar project early next year, 2011, indicating that the first includes the construction of small service projects and the implementation of the second large project in downtown Baghdad.

Zaidi added that the presidency of the Council mandated its committees to provide a number of projects to be implemented within one of the proposals, pointing out that these committees will meet next week to agree on one and choose the quality of the projects to be implemented directly by early next year.

http://radionawa.com/Ar/NewsDetailN....730&LinkID=155

Finance minister calls on U.S. ExIm Bank to fund Iraqi projects

The Iraqi finance minister on Thursday called on the Export-Import Bank of the United States (ExIm) to fund Iraqi projects.

This came in a meeting in the United States between the Iraqi minister and a number of the bank’s officials and experts, according to statement issued by the Iraqi Finance Ministry.

“The two sides also discussed a credit agreement between Iraq and the U.S. to offer Iraq a short and mid-term credit line,” the release said as received by the Aswat al-Iraq news agency.

http://en.aswataliraq.info/?p=137691

Economist: Iraq is ranked first in the volume of imports

Ills Alkhbayralaguetsadi Abdul Hassan Shammari that the reason for the deliberate neglect of the private sector is the State's interference neighborhood political affairs and economic development in Iraq.

Al-Shammari said the Agency by news that the State of neighbors trying, through its allies in the inside of the political forces in the neglect of the private sector for the purpose of the survival of the Iraqi market open to their exports.

He expressed his Shammari dismay, saying Iraq is dependent on the state budget only and has become in the first place in the volume of import and go all Radath oil consumption rather than production, revealing the entry of about 3500 truck from Turkey a day, 400 trucks through Iran, and 500 trucks from Syria, and 300 trucks on the road Jordan, Kuwait and Saudi Arabia.

He Shammari I've got a big increase in local Asaralsoq, especially food, because of lack of ration card items needed by the citizen and that could not the Ministry of Commerce to fill the gap in it.

He Shammari said that any interruption of the goods that come from the neighboring countries will lead to a sharp rise of prices.

http://radionawa.com/Ar/NewsDetailN....707&LinkID=155

Sea Science: Iraqi oil production is too late

Description of the former minister of the Iraqi oil production as backward and inconsistent with the oil reserves, announced by the ministry recently and confirmed that the arrival to 505 billion barrels.

Said Ibrahim Bahr al-Ulum, told the Kurdish news agency (Rn) that Iraq is ranked tenth among the oil exporting countries and this is surprising and shows that Iraq did not do a good ability to produce and export oil, noting that "OPEC will not affect the increase in reserves of Iraq and bringing them to 505 billion barrels per day, that the matter is related to internal policy as oil, and Iraq's right to legally expand the extraction of oil and also increase its dealings with oil-consuming countries."

http://radionawa.com/Ar/NewsDetailN....729&LinkID=155

A meeting between Iraqi and virtue to discuss the nomination of al-Maliki

reveal a political source close to the Tvaaudhat formation of the government, the start of a meeting between the leaders of the Iraqi List and the Islamic Virtue Party.

The source added that the existing Iraqi President Iyad Allawi visited this morning, Secretary General of the Virtue Party Hashem al-Hashemi in his home to discuss the latest developments after Maliki's nomination for prime minister.

The meeting began shortly before the presence of a number of leaders of the two blocs to discuss the latest developments and determine the position of the parties of the National Alliance candidate for prime minister, Nuri al-Maliki.

This and got news agency palm of sources familiar with the terms of the paper that the Kurdish and approved by Nuri al-Maliki to be prime minister, Maliki has surprised even members of his party (by invitation) by accepting the 18 items contained in the working paper Kurdish consisting of 19 items, including acceptance of the recognition of investment oil that took place in the Kurdistan region and to give the region the right to exploration and export.

He also agreed to give a fixed share of the federal budget to the territory of Kurdistan, al-Maliki also gave sufficient guarantees for the Kurds to implement Article 140 of the Constitution to resolve the issue of Kirkuk and other disputed territories in the provinces of Nineveh, Salahuddin and Diyala.

But the only point of contention is the demand of the Kurdish government as an article upon the withdrawal of their ministers, and this is the point which was objected to by al-Maliki and he asked the delegation headed by Kurdish negotiator, leader of the Kurdistan Democratic Party Rose Nuri Shaways deleted or modified

http://www.nakhelnews.com/pages/news.php?nid=2609

Iraq to award fourth telecom licence in Q1 2011

Iraq's communications ministry aims to award a fourth mobile phone operator licence in the first- quarter of 2011, a senior official has said.

Farouq Abdul-Qadir Abdulrahman, minister of communication, told reporters on the sidelines of a conference in Dubai that the new operator will provide "competitive rates" to existing operators, as the war-torn country focuses on improving telecom services.

Up to 15 firms including US-based Verizon Communications, South Africa's MTN, Turkcell, UAE's Etisalat, France Telecom, and Vodafone had expressed an interest so far, he said.

The fourth firm, which would operate throughout Iraq, would partner with the Iraqi Telecommunications and Posts Co (ITPC), which already holds the fourth licence and falls under the ministry of communications.

"We are looking for a partner to operate it (the licence) for us ... We said we will have a condition of taking a minimum of 30 percent of the revenue as we are going to provide the infrastructure, everything," he added.

The mobile phone market, which did not exist in Iraq under the rule of Saddam Hussein, has boomed since the US-led invasion of 2003 that toppled him, with the total customer base of the main providers, Kuwait's Mobile Telecommunications Co and AsiaCell, jumping to around 10 million consumers from 3 million in the past two years.

Zain and AsiaCell, along with third mobile phone firm Korek, which is based in Iraq's Kurdish-run north, bought 15-year licences for $1.25 billion each in an auction in 2007.

The Iraqi government has strongly criticised their patchy coverage and imposed fines.
Zain has rejected the criticism as unfair and blamed reception problems on military signal jamming.

Kassim al-Hassani, director general of ITPC, told reporters he expected the country's telecoms sector to reach 90 percent penetration by the end of 2011 from 60 percent at present.

http://www.arabianbusiness.com/iraq-...11-355500.html