Thread: Iraq/Dinar News. before Febuary 2nd 2006

Originally Posted by billknows

Originally Posted by DayDream View Post
I didn't want to start a new thread for this so I thought I would stick it here.

Found this...

New Message from Bill! I had asked Bill where his Iraqi workers heard about the Reval and this is his reply to me today:

No offense to any one here. But this sure sounds like it is still in a rumour stage until this thing is verified.......But if true sounds GREAT!

Iraqi leaders agree on the draft law of oil
Translated by IRAQdirectory.com - [21/01/2007]



Assim Jihad, the spokesman for the Iraqi Oil Ministry, said on Wednesday that a special committee agreed on the final version of the draft law of oil to determine the rules on which depend the division of revenues and increasing the production.
Jihad said that the bill drafted by a number of senior national and regional leaders provides for the establishment of a federal committee headed by the Prime Minister and have the power to supervise all contracts as well as reviewing the existing agreements signed in the era of former President Saddam Hussein, and the agreements signed by the Kurdish regional government.

Jihad said that the Committee had completed the drafting of the law on Tuesday evening and all members of the Committee agreed unanimously and will be submitted to the government early next week.

The approval on an oil law helps in settling possible differences among ethnic and religious groups in Iraq on the division of the third largest reserves of crude oil in the world, was a major demand of the United States to provide more military support to the government of national unity.

Jihad continued that everyone considers this law a great achievement and a national project and there are no differences on it.
Jihad said that the committee headed by Deputy Prime Minister, Barham Salih, will present the draft law to the government next week for approval, and then the law will be referred to Parliament, hopefully, to be approved by it as well.

The law provides a mechanism for a central management of oil revenues to be distributed to the various regions, later.

Jihad continued that the law provides clear restrictions to ensure that all contracts in Iraq's interest.

Jihad refused to determine who will negotiate with international companies, but said that the Federal Board would have the final say in the approval of contracts.

High sources in the oil sector said last month that regions could negotiate with major oil companies on crude contracts and the development of oil fields, but the central authority must approve them.

Iraq strongly needs foreign investments to revive its shattered economy which relies heavily on oil export revenues.

The division of oil is an important factor in sectarian strife in Iraq; the southern oil fields around Basra are located in an area dominated by rival factions of the Shiite political forces, some of them are close to Iran. The northern fields lie on the outskirts of the Kurdish region around the city of Kirkuk which the Kurds want to annex as their regional capital; while Arabs and Turkomen accuse Kurdish militias to carry out ethnic cleansing before the referendum on the future of the city provided by the Constitution and scheduled to take place this year.

The Arab Sunni minority, who dominated the country in the era of former President Saddam Hussein, are concentrated in Baghdad and the surrounding areas to the north and west where there are not much known oil reserves.

The Sunnis insist that the central government in Baghdad should control the oil sector despite the adoption of a new constitution, sponsored by the United States and opposed by most of the Sunnis, granting some authorities to recently formed federal regions with respect to oil and gas

http://www.iraqdirectory.com/DisplayNews.aspx?id=2996

Even budget Iraq divided on the basis of sectarian-fears of corruption and the controversy over the compensation of a religious nature

WAI-interpretation and preparation Chlan Qaisi

Spontaneous discussions acute during the discussion of Iraq's budget for the year-2007, and the budget debate in a country with unusual circumstances is not easy, as uncertainty surrounding many of the items in this proposed budget, which contributed to the increase of public distrust between ethnic groups in addition to the many doubts about the ability of the government of Prime Minister Nuri al-Maliki for the management of this country.
Dedicated almost two billion dollars from this budget to the agencies or institutions, others are subject to the supervision of the central government, while rejecting the international donors give money do not know their destiny.
The possibility of bad dispel these funds is very high. As more of these ministries receive funds worth millions of dollars under the "social benefits" without any controls soon.
In a copy of the report of the Iraqi budget, amounting to 41 billion dollars obtained by the Los Angeles Times, there are some funds allocated to compensate the families of those who were killed or imprisoned days of the late regime of Saddam Hussein. Have had this item backed by the Shiites attack from legislators Sunni Arabs, who threatened that they Sidinoa each spending plan and loudly unless these awards also include prisoners who have violated by American forces in Abu Ghraib prison, who were killed in American military operations since the fall of Saddam Hussein's government in 2003. He said Alaa Saadoun member of Parliament from one of the Sunni blocs : "If this law had not changed we will not vote in favor of the budget.
Budget Iraq bore Panevagat additional otherwise of the possibilities, some of which are sectarian meanings, in addition to the materials that vaguely worded spending has surprised legislators Iraqis themselves. The Al-Maliki had asked them to quickly ratify this budget.

But even close political allies of the prime minister raised difficult questions about the proposed budget, which increased by 21% compared to last year. This budget does not include eight billion dollars allocated to ministries in the past year that have not paid them one dollar so far on reconstruction projects in various parts of the country because of lack of security. No mention of voluntary funds donated by the international community. The framers of the budget of Iraqis had complained that they simply can not get the true figures of external assistance, for example, how has Washington in support of Iraqi Agriculture.
The budget is expected to be funded at $ 30 billion in oil revenues, and about one billion of taxes and rounded eight billion dollars last year, said Maliki do not want to pay all the income to pay government salaries, "We want to encourage investment - especially in the electricity and oil."
Several observers, however, played with the question of reconstruction, and said that it is impossible to exchange each of those funds amid armed conflicts daily and banditry that is spread from eight provinces and cities in the country's 18 provinces. The overall deficit was also a factor in the failure to disburse the funds allocated. Many of the key ministries were unable to spend the allocated budget, which resulted in the waste of money on the grounds of expediency.


Security forces have received the bulk of the proposed budget Iraq. As the annual expenditure of the Ministry of Defense, has remained on the same case, about four billion dollars, while the financing of the Ministry of the Interior with a Shiite majority, which oversees the police, will rise by 25%, from the apportionment of two billion and 600 million dollars. This means that the strategy for this year is military and not economic.
The budget appropriated multiplier, which is $ 200 million, of the Ministry of Foreign Affairs under the control of Kurdish, to increase the payroll to the embassies, nine times what is universally acknowledged.
Education and health spending are more than 50%. However, the government will spend six million dollars to address the urgent problems of families displaced, the same amount allocated in the past year.

One Shiite lawmakers said on the increase in the budget allocated to the vexing national security adviser Muwaffaq spring, which increased by 100%. The official said Mr. Hassan Al-Sunaid : The spring wants 10 agents of the Ministry and 30 post of director-general in his ministry at the time had only three rooms in the library and inadequate for all the people sitting there. At a time when government officials say they have made necessary effort to be more transparent ...!
Nearly two billion dollars of the budget expenditure to non-specific about Iraq's debt payment in addition to the ration late already from the people and financial subsidies to the provinces, but most officials say. That money will be allocated without the foundations for disbursement. He said on behalf of Sharif : These specialties are tainted by ambiguity and lead officials to embezzlement, we want to allocate funds to the provinces affected, but how can we fight corruption Governors of the provinces. The legislators questioned funds "social benefits" that can be exploited, by the Minister of honor Mentsbihm.
The proposed budget allocated $ 126 million to religious institutions, Shiite and Sunni equally, and $ 230 million allocated to the victims of Saddam Hussein's government. This is the point around which raised questions. Will that the institutions created after the fall of the regime would cover all those affected, whether they were from the former regime, or as a result of the occupation and the militia. These include the institution known as the martyrs, prisoners lost in the former regime, and how the money will be spent.
He said Salim Abdullah al-Jabouri : There is a big problem in this subject, those who have suffered damage and who are prisoners and what amounts of money allocated to them, and how will spend this huge amount of money. ?????
But the government with the Shiite want this operation budget by whim, which is that the budget does not give importance to the population density, but to how many of these citizens have been harmed by the former regime. How they can cut those suffering?
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An invitation to all companies, institutions and agencies to identify evidence and the Iraqi News Agency

Www.aliraq4all.com

The occasion of the new year 2007
Calls Management Manual and the Iraqi News Agency all commercial activities, information and technical, social and political advertising in the Comprehensive Guide, which hopes to start very soon, according to a recent technical ...

The administration decided Declaration for the first five applicants free of charge for six months of each commercial activity, or media ...

Note that the declaration found in the Agency is the agency financially support the continuation of the national media to do its full independence and God conciliation

For the purpose of inquiry as to how the terms and conditions, please write to the following address

[email protected]
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The salary increases are calculated from this month
The dollar at 1260 dinars this year and drop to one thousand dinars soon
Baghdad-Sabah
The Egyptian Minister of Finance that the 2007 budget had been lifted support for oil derivatives, and confirmed that his ministry had decided to work under a new salary from this month has allocated the funds required, but the House did not approve a plan of implementation so far, pointing out that the value of the Iraqi dinar against the dollar, will be at 1260 dinars for this year with a fiscal policy for the Iraqi dinar to normal.

He said Baqer Zubaidi, the Minister of Finance in a special Basubah yesterday : that the seven billion dollars is the value of crude oil, which is pumped from Iraqi oil fields to refineries Iraqi oil belongs to the Iraqi Oil Ministry said that this was in support of the Iraqi government for petroleum products also been allocated three billion dollars from the financial budget to cover the expenses of construction of new lines and maintenance of existing refineries, with a further $ 300-million dollars to buy kerosene.
He explained that Zubaidi Akiam amounts of the sale of petroleum products would remain with the Ministry of oil used to sustain and develop other oil projects, pointing out that the furor raised to support the lifting of oil derivatives has only included the lifting of subsidy on imported gasoline quality, which is used in modern cars.
And that the Ministry of Oil and the purchase of materials used in improving the derivatives of its own budget.
As for the salaries of the State Minister of Finance said : that his ministry had issued directives to the state regardless staff salaries according to a new salary but that the parliament has delayed the ratification of the implementation of the plan due to the lack of quorum as the delay in the preparation of the budget and its own budget approved by the Supreme Judiciary Council is the latest budget process by the government to the House of Representatives.
He pointed out that new applications for the government of Kurdistan, including deducting the value of its imports directly from the various added reason to delay submission of the budget.
He explained that the Ministry of Finance has figures for the budget of the Ministry of Defense and Ministry as decided by the sovereign to between the parties as called for by the Ministry of non-sovereign.
He emphasized - Zubaidi that the Ministry of Finance and in consultation with the Central Bank of seeks to identify the rate of exchange of the dollar the value of in 1260 dinars during the this year with laid down a plan to return the Iraqi dinar to its former era during the coming three years expressing his hope to stabilize the custody of during the coming three years expressing his hope to stabilize rate of exchange of 1000 dinars during the coming period the pointing out that the inflation not a situation fixed but is temporary and that one of the causes for crisis cruise goods and its access to the depths of the Iraqi ports because of the terrorist operations also that the rise of the prices of oil derivatives during crises another cause of inflation. Regarding the current year budget-Zubaidi described as ambitious for the first time achieved eight billion dollars for security, despite the allocation of large amounts of investment that will contribute to solve the crisis of unemployment and increase economic growth by 10-8%, so as to ensure the completion of service projects in all governorates.
He said the remaining funds from the account of the final years amounted to eight billion dollars that the government would provide final budget to the House of Representatives during the first quarter of this year.
He called Al-Zubaidi morning daily opening channels of communication with the Ministry of Finance for the purpose of participating in the transfer of the facts and push the other parties to determine the responsibility of financial policy and to support democracy by the government of national unity.
(Details of the meeting in a later issue)

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To examine the files of inflation, debt and foreign investment Baghdad / justice.
He met with Vice-President Dr. Adel Abdel Mahdi, Governor of the Central Bank, Dr. Sinan Shabibi

During the meeting, discussion of many of the files of the most important inflation in the Iraqi economy. File debt and foreign investment law which will be presented to the parliament for approval and the governor stressed that the causes of inflation for اتتعلق phenomenon cash basis, but the financial situation in general terms that there is pressure to spend the security aspect and the service with little in the supply of goods to result in inflation. What is needed is coordination between fiscal policy and monetary policy. (And the Investment Law (We expect him many positive benefits in addition to that one base flows of the economy. The investment flow is not financially, but the country's administrative and Tknlujia addition complement domestic investment in order to increase GDP. As for the possibility of raising the value of the Iraqi dinar. The rise in the value of the dinar will rise by relying on the country could provide a quantity of foreign currency through increased exports, the volume of exports and reduce debt outcome is the economy, which raises the value of the dinar.


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New oil law will lead to 'transparent and fair' competition: Iraqi minister
Sinan Salaheddin, Canadian Press
Published: Sunday, January 21, 2007
BAGHDAD (AP) - A new draft hydrocarbons law will pave the way for "transparent and fair" competition in bids to develop Iraq's oil wealth, the oil minister said Sunday as he sought to restore the confidence of foreign investors.

The new law, if approved, is expected to encourage foreign oil companies with their investment clout and technology to modernize Iraq's oil sector and meet the country's goal of doubling the current crude production of 2.5 million barrels per day by 2010.

Iraq's proven oil reserves stand at about 115 billion barrels, the world's third largest after Saudi Arabia and Iran.


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Iraqi oil minister Hussain al-Shahristani speaks during a press conference in Baghdad, Iraq, Sunday. (AP Photo/Adil al-Khazali)

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Font: ****The oil minister, Hussain al-Shahristani, said new oil fields will be added as bids are submitted by foreign companies.

"The competition will be transparent and fair and companies will be chosen according to their modern technological capabilities to guarantee the highest benefits for Iraqis," al-Shahristani said at a news conference. "We will not consider their nationalities and we will ignore any contract doesn't achieve the highest benefits."

Al-Shahristani refused to give a timeline for parliamentary action and did not say how the ministry would negotiate with foreign companies.

He also cautioned that attacks against oil installations and employees were increasing, with 289 people killed over the past year and 179 wounded.

"The ministry is always suffering from these terrorist attacks. I call upon all honest people to co-operate with the oil ministry in order to find those who are attacking the employees of this sector and provide us with any related information," he said.

Insurgents have frequently targeted oil facilities, pipelines and employees, disrupting exports and efforts to modernize the industry.

The oil minister stressed that all Iraqis will share in the profits amid concern by many Sunnis that they will lose out to the Shiites and Kurds who dominate the country's two chief oil regions in southern and northern Iraq. Those groups want regional control over oil production and revenues.

Iraq's Sunnis and much of the Baghdad government want to maintain national control over Iraq's petroleum resources as was the case during former leader Saddam Hussein's Sunni-dominated rule.

"The constitution states that oil and gas are for all Iraqis in all provinces and regions, and according to this conception we drafted this oil law to help promote Iraq's unity and prosperity of its people," he said.

Last Thursday, the ministry's spokesman Assem Jihad told The Associated Press the law would require that all oil revenues go to a central fund, then be distributed to Iraqis in every region and province according to population.

Jihad said the law also would stipulate that oil contracts signed by Saddam's government or by the semiautonomous northern government of Kurdistan be reviewed and amended if needed.
New oil law will lead to 'transparent and fair' competition: Iraqi minister
Sinan Salaheddin, Canadian Press
Published: Sunday, January 21, 2007
BAGHDAD (AP) - A new draft hydrocarbons law will pave the way for "transparent and fair" competition in bids to develop Iraq's oil wealth, the oil minister said Sunday as he sought to restore the confidence of foreign investors.

The new law, if approved, is expected to encourage foreign oil companies with their investment clout and technology to modernize Iraq's oil sector and meet the country's goal of doubling the current crude production of 2.5 million barrels per day by 2010.

Iraq's proven oil reserves stand at about 115 billion barrels, the world's third largest after Saudi Arabia and Iran.


View Larger Image
Iraqi oil minister Hussain al-Shahristani speaks during a press conference in Baghdad, Iraq, Sunday. (AP Photo/Adil al-Khazali)

Email to a friend

Printer friendly
Font: ****The oil minister, Hussain al-Shahristani, said new oil fields will be added as bids are submitted by foreign companies.

"The competition will be transparent and fair and companies will be chosen according to their modern technological capabilities to guarantee the highest benefits for Iraqis," al-Shahristani said at a news conference. "We will not consider their nationalities and we will ignore any contract doesn't achieve the highest benefits."

Al-Shahristani refused to give a timeline for parliamentary action and did not say how the ministry would negotiate with foreign companies.

He also cautioned that attacks against oil installations and employees were increasing, with 289 people killed over the past year and 179 wounded.

"The ministry is always suffering from these terrorist attacks. I call upon all honest people to co-operate with the oil ministry in order to find those who are attacking the employees of this sector and provide us with any related information," he said.

Insurgents have frequently targeted oil facilities, pipelines and employees, disrupting exports and efforts to modernize the industry.

The oil minister stressed that all Iraqis will share in the profits amid concern by many Sunnis that they will lose out to the Shiites and Kurds who dominate the country's two chief oil regions in southern and northern Iraq. Those groups want regional control over oil production and revenues.

Iraq's Sunnis and much of the Baghdad government want to maintain national control over Iraq's petroleum resources as was the case during former leader Saddam Hussein's Sunni-dominated rule.

"The constitution states that oil and gas are for all Iraqis in all provinces and regions, and according to this conception we drafted this oil law to help promote Iraq's unity and prosperity of its people," he said.

Last Thursday, the ministry's spokesman Assem Jihad told The Associated Press the law would require that all oil revenues go to a central fund, then be distributed to Iraqis in every region and province according to population.

Jihad said the law also would stipulate that oil contracts signed by Saddam's government or by the semiautonomous northern government of Kurdistan be reviewed and amended if needed.
New oil law will lead to 'transparent and fair' competition: Iraqi minister
Sinan Salaheddin, Canadian Press
Published: Sunday, January 21, 2007
BAGHDAD (AP) - A new draft hydrocarbons law will pave the way for "transparent and fair" competition in bids to develop Iraq's oil wealth, the oil minister said Sunday as he sought to restore the confidence of foreign investors.

The new law, if approved, is expected to encourage foreign oil companies with their investment clout and technology to modernize Iraq's oil sector and meet the country's goal of doubling the current crude production of 2.5 million barrels per day by 2010.

Iraq's proven oil reserves stand at about 115 billion barrels, the world's third largest after Saudi Arabia and Iran.


View Larger Image
Iraqi oil minister Hussain al-Shahristani speaks during a press conference in Baghdad, Iraq, Sunday. (AP Photo/Adil al-Khazali)

Email to a friend

Printer friendly
Font: ****The oil minister, Hussain al-Shahristani, said new oil fields will be added as bids are submitted by foreign companies.

"The competition will be transparent and fair and companies will be chosen according to their modern technological capabilities to guarantee the highest benefits for Iraqis," al-Shahristani said at a news conference. "We will not consider their nationalities and we will ignore any contract doesn't achieve the highest benefits."

Al-Shahristani refused to give a timeline for parliamentary action and did not say how the ministry would negotiate with foreign companies.

He also cautioned that attacks against oil installations and employees were increasing, with 289 people killed over the past year and 179 wounded.

"The ministry is always suffering from these terrorist attacks. I call upon all honest people to co-operate with the oil ministry in order to find those who are attacking the employees of this sector and provide us with any related information," he said.

Insurgents have frequently targeted oil facilities, pipelines and employees, disrupting exports and efforts to modernize the industry.

The oil minister stressed that all Iraqis will share in the profits amid concern by many Sunnis that they will lose out to the Shiites and Kurds who dominate the country's two chief oil regions in southern and northern Iraq. Those groups want regional control over oil production and revenues.

Iraq's Sunnis and much of the Baghdad government want to maintain national control over Iraq's petroleum resources as was the case during former leader Saddam Hussein's Sunni-dominated rule.

"The constitution states that oil and gas are for all Iraqis in all provinces and regions, and according to this conception we drafted this oil law to help promote Iraq's unity and prosperity of its people," he said.

Last Thursday, the ministry's spokesman Assem Jihad told The Associated Press the law would require that all oil revenues go to a central fund, then be distributed to Iraqis in every region and province according to population.

Jihad said the law also would stipulate that oil contracts signed by Saddam's government or by the semiautonomous northern government of Kurdistan be reviewed and amended if needed.
New oil law will lead to 'transparent and fair' competition: Iraqi minister

I just noticed on the arabic site of the CBI ( maybe announcement) on top the year 2007/1 and below says 1.25-1 but in english the announcements are left blank anything????

Apparantly its NOT our RV I am getting too excited.
Sorry guys.

Originally Posted by kristybis4

I just noticed on the arabic site of the CBI ( maybe announcement) on top the year 2007/1 and below says 1.25-1 but in english the announcements are left blank anything????

Where does it say 1.25 - 1 ?


Ignore, it was answered while I was posting this.........