Thread: Iraq/Dinar News. Before Feb. 21, 2007

Sunni Sheiks Join Iraqi Police to Fight Al Qaida
by Tom Bowman

Morning Edition, February 19, 2007 · In Iraq, Sunni Arab sheiks angry over al Qaida attacks in the insurgent stronghold of Anbar province are urging their tribesmen to join the local police forces. So far, the United States has trained three battalions.

Originally Posted by PAn8tv

New oil find in Iraq gives hope to Sunni areas
By James Glanz

Monday, February 19, 2007
KARABILA, Iraq: In a remote patch of the Anbar desert just 30 kilometers from the Syrian border, a single blue pillar of flanges and valves sits atop an enormous deposit of oil and natural gas that would be routine in this petroleum-rich country except for one fact — this is Sunni territory.

Huge petroleum deposits have long been known in Iraq's Kurdish north and Shiite south. But now, Iraq has substantially increased its estimates of the amount of oil and natural gas in deposits on Sunni lands after quietly paying foreign oil companies tens of millions of dollars over the past two years to re- examine old seismic data across the country and retrain Iraqi petroleum engineers.

The development is likely to have significant political effects: the lack of natural resources in the central and western regions where Sunnis hold sway has fed their disenchantment with the nation they once ruled. And it has driven their insistence on a strong central government, one that would collect oil revenues and spread them equitably among the country's factions, rather than any division of the country along sectarian regional boundaries.

Although Western and Iraqi engineers have always known that there are some oil formations beneath Sunni lands, the issue is coming into much sharper focus with the new studies, according to senior Iraqi Oil Ministry officials. The question of where Iraq's oil reserves are concentrated is taking on still more importance as it appears that negotiators are close to agreement on a long-debated oil law that would regulate how Iraqi and international oil companies would be allowed to develop Iraq's fields.

The new studies have increased estimates of the amount of oil in a series of deposits in Sunni territory to the north and east of Baghdad and in a series of deposits that run through western Iraq like beads on a string, and could contain as much as a trillion cubic feet, or .03 trillion cubic meters, of natural gas. And while it would take years to actually begin pulling gas and oil out of the fields even if the area soon became safe enough for companies to work in, energy corporations have been excited about the area's potential, even if it falls short of reserves in the Shiite south and Kurdish north.

The analysis, still little known outside a small circle of specialists, is important enough that on Friday, Brigadier General John Allen of the 2nd Marine Expeditionary Force, who is deputy commanding general of Multi-National Force-West, which has responsibility for Anbar Province, made the long trip into the desert to visit the blue wellhead. Allen's duties include promoting the economic development of Anbar. The deposit beneath is the Akkas field, one of the beads on the string that runs from Nineveh Province in the north to the border with Saudi Arabia in the south.

"It's phenomenal standing here," Allen said. "What this does is, it gives Anbar and the Sunnis an economic future different from phosphate and cement," he said, referring to products of some of the aging factories in the area.

"This gives them a future and a hope," he said. Nearby, a few pieces of laundry flapped in front of one of the only structures in sight, a cinder-block shack probably belonging to a shepherd.

Iraqi oil production peaked at around 3.7 million barrels a day in 1979, as Saddam Hussein was coming to power, according to the U.S. Department of Energy.

The figure fell and rose over the years and stood at 2.6 million barrels a day just before the 2003 invasion. Current production is less than the prewar figure, a major disappointment for the American and Iraqi engineers who have struggled to rebuild the national oil infrastructure.

That production has always been concentrated in the north and south. But at various times, Iraq has drilled a few exploratory wells in the Anbar desert and in a series of deposits north and east of Baghdad, where there has also been limited production, Natik al- Bayati, director of reservoirs and field development at the Ministry of Oil, said in a recent interview.

For all of its wells, Iraq has also collected seismic data — records of the tremors that ripple through Earth's crust and can be used like X-rays to investigate underground structures. But Iraq's long isolation from the rest of the world meant that the data had never been analyzed with the latest technology, Bayati said in the interview, which was attended by his chief geologist and another ministry expert on reservoirs and authorized by the oil minister, Hussain al-Shahristani.

It was partly for that reason, Bayati said, that Iraq allocated up to $25 million each for agreements with some 40 international oil companies, which have provided training, legal consulting, and technical help — including access to the latest software — with the data analysis. In the process, "We got some pleasant surprises," Bayati said.

A re-examination of one series of wells running from Taji, just north of Baghdad, to an area southeast of the capital nearly doubled the estimate of recoverable reserves after raising the estimated total to around 15 billion barrels, Bayati said. That is one of a series of similar structures that form a brevet- like pattern in Sunni areas north of Baghdad and are still being studied, he said. Current estimates for all proven reserves in Iraq amount to about 115 billion barrels.

Bayati said that the studies, which were conducted across the whole country, also increased estimates of the natural gas reserves in Sunni-dominated Nineveh and Anbar provinces in the west. He said that the amount of natural gas that could theoretically be extracted from the Akkas field alone would be the energy equivalent of around 100,000 barrels of oil a day.

The promise of the oil and gas fields in Sunni territory comes with numerous cautions, including the challenges of doing almost anything at all with the fields as long as Iraq remains such a dangerous place to work, particularly for foreign companies with substantial expertise and resources.

Even if companies can develop the fields, it could be years before wells can be dug and pipelines built to move the oil and gas from the fields.

Copyright © 2007 The International Herald Tribune | International Herald Tribune - World News, Analysis, and Global Opinions

http://feeds.bignewsnetwork.com/?rid...1d0aaa23b24a75

Great find,

This is just the tip of the iceberg on what is to be announced now that expoloratory data is being released. Iraq will indeed be the leader in oil and gas by this summer, so this will bode well for an ever increasing dinar value over the coming years. Just a matter of time and we will see that these new reserves will feed the economy along with declining reserves in Saudi Arabia, so oil prices will be rising for years to come.

Good luck to all, MIke

come on dinar!!!!!!!!!!!!!!!!!!!!!!

Hey old boy, you removed my post. Did I faux pas?

Scott Paye

Any news yet on the RV? Has anyone heard from their contacts in Iraq? Been watching the news and not a mention of it. A family member talked to his son in Iraq and he has not heard anything as of yet. His contacts don't seem to know anything about it.. Thanks all.

Originally Posted by scottpaye

Hey old boy, you removed my post. Did I faux pas?

Scott Paye

to the Banks and Dealers Thread. http://www.rolclub.com/bank-exchangi...news-here.html

Economic : Abdel Sudanese farmer : Iraq future on the development of explosive
19.02.07
Cairo-Asra Khalifa

The Trade Minister Abdel desire of the Sudanese farmer Ara s Avenue for the restoration of economic and trade cooperation with all brotherly and friendly countries from Almassa Leh common and fair that we have to establish Ut Firm relations.

Sudanese said during his meeting with the chairman and members of the General Raja told Egyptian business during his visit last week did not since that Iraq possesses enormous wealth was unable to reach the ranks developed countries have not disconnection from the world of music because Asat wrong to the former regime.

He added. Today we look to invest these energies and wealth. in cooperation with our brothers in Egypt to the benefit of any mutual Mana our capabilities businessmen and investors, exporters Yin also look forward to a fruitful trade cooperation with sisterly Egypt.

He alluded Mr. Minister. The current situation in which the country is living is a exceptional disappear actively fervent Iraqis and the Opposition Nina in the neighboring countries after the defeat of violence and only xenophobia.

He said that a bright future and building on the way to Iraq as countdown to succeed the government's plan to impose the rule of law.
He explained that the Sudanese investment opportunities by Sinfateh a Iraq to the world in light of the new investment law , which makes it a good investment environment and attract each holding T. world.
He urged businessmen on the investment opportunities for Al AIPAC a foothold in this huge sum of the projects MTV is expected to launch during the current year.

Translated version of http://www.alsabaah.com/paper.php?source=akbar&page=37

Economic:conditions : IMF
19.02.07
Abbas Nassar Alafi

Iraq was subjected to the conditions of the International Monetary Fund to increase range R. oil derivatives, which are sold to citizens and this WALSH Erg part of the conditions imposed by the IMF in a series only Salah structural guarantee in return for the remainder of a debt as for the Iraqi threatened fund

IMF deal to stop the downloading of debt worth 25 billion d Laar and after it was 125 billion dollars. Here, we would like to touch on how they were set up International Monetary Fund.

In July 1944, representatives of 44 countries of the Woods Wu Des City (Inohamshair) in the United States illiterate Rkih and on the establishment of an international monetary system after the war pw % two put an end to the disturbances in a situation the financial, monetary, trade and payments deficits with Zam countries of the world have emerged from the conference was to discuss two projects the first English dubbed draft Keys and the second American The project known as the White conferees have agreed on Hinche purchase of each of the International Monetary Fund and World Bank established automatic and reconstruction, After the establishment of the International Monetary Fund in its demise 19 47 The primary purpose of the Fund is to establish a cash d Crown characterized by stable At the same time flexible,

The number of its members from 30 countries in a timely manner so the total number of 1 987 (151) to the State of the objectives of the Fund are :
I work for stability in exchange rates

Two promote monetary cooperation in the creation of an international institution T. always sought to solve international problems.

Three work to shorten the duration of the imbalance in the balance-Driven T. Member States.

4 work on the multilateral system to cover Almaamla T. ongoing.

5 making Fund resources available to assist members to achieve a balance.

6 facilitate the development of international parity for the development of pain Ward productivity.

The capital of the Fund consists of quotas Fifteen shareholders have subscribed by the Member States and the member to pay part of its share Baldola t American and the remainder in the form of local own currency a credit to the Central Bank and on the basis of quotas set the votes in the State Fund and the aid it gets Might my Member States, The fund allows for member states to change the value of its currency in about 20%, if it wants to change it to obtain the consent Els Ndok and of the Member State may not withdraw more than 25% of the share in any year except in the case of the existence of circumstances exception Yeh fund members agreed to work drawing rights, etc. Esh currency is a certified cash and computational units notebook module, and certain purchasing power to accept for circulation Walt being from each member of participants in the Fund had requested currency worse for the conversion and the share of each of the Special Drawing Rights e by its share in the capital of the Fund. before this Block global cash for Iraq can not be far away from him but we have to be part of it the fact that the Iraqi economy is fragile and a collapsed infrastructure and needs to be 180 billion de Laar during the next four years to be close to Aldo told neighbors in terms of building its economy, recession eats inflationary economy in the great problem large faced Iraqi government at the time but Gti the inflation rate 76%, we find that unemployment had exceeded Akt t 2 million people are unemployed and here are conflicting tools pain would serve to reduce the phenomenon of inflation and the phenomenon of unemployment and M. n reasons for the phenomenon of inflation in 2006 is a rise in prices for oil products has not been decided locally, but also stated a condition of the International Monetary Fund and demanding a to make the price per liter of gasoline at 750 dinars Mahaso Ba on the basis of the price of imported since imports Iraq (10) millions of liters per day and the Iraqi government is working hard the lack of access to this figure, he said it will lead to the lifting Ness the inflation to more than 100% and compromise to deal with these e problem is through merger between gasoline hidden d and cost (750) dinars per liter and petrol Almjeh g of the Ministry of Oil Refineries at (250) dinars that any m mediate Klfti import and production is about 400 have OL per liter petrol note that the Ministry of Oil Refineries produces (10) million liters per day.

The 2007 budget included reducing government support Lid the prices of oil derivatives, the uncle had proposed budget T. a low amount (300) million, while the support Almekd m in the 2005 hit (5 and 4) billion dollars and has (2) reflect Rdolar 2006.

Translated version of http://www.alsabaah.com/paper.php?source=akbar&page=37

Originally Posted by rvalreadydang

Dubai-East : According to a study prepared by the United Nations Development j and the Ministry of Planning and Development Cooperation of Iraq Wan M results in Amman today, Sunday, the third of the Ar Christians, who numbered about 27 million. to live in a state of poverty.
ش 5% مدقع".According to the study, which was launched at a press conference in Amman a for on the basis of the average income in the economic Els Sample and 1980s, third, the Iraqi people today live in poverty, while aware of u 5% of them live in abject poverty. "
.The results of the study, based on a survey conducted in 2004, a year after the war led by the United States on Iraq, and used as a guide to the human development reports Almsteka Bleh in Iraq, according to organizers.
".He said Paolo Lembo Administrator of the United Nations now water in Iraq that Iraq, which God blessed him Bkmi AT significant natural resources and a better quality of ALMAO Ward human beings led to its collapse hands. "


هذا البلد".He added Lembo what is happening now in Iraq is a tragedy of the decision rights. " He called on the international community and Iraqi neighboring states that with Iraq join efforts to rebuild infrastructure Walt Hater in this country. "
وقال ".The goal now is to restore the real potential is why a country not only to the Iraqis, who live in Iraq, but for the entire world. "
هو ايضاHe added, we have a moral and political responsibility that is what is happening Iraq is also
مOur responsibility. "
منالمالية".For his part, The Mahdi Ilaq official in the Central Ahsa purchase of information technology and of the Ministry of Planning Iraqi and development cooperation, the results of the study six helped in the identification of financial development projects. "
وقال ي".He said Ilaq we will use the results of this study to target m Sharia such as those that create jobs fast better Focusing on areas with the greatest needs as at 16 May 2003 65 II as much as they lacked the infrastructure, especially water and receiving health treatment. "
.The study, which is called the road of deprivation and levels T. living in Iraq. " accused policies in Iraq, which seeks to transforming the economy of this country to a free market, being behind the worsening living conditions there.
ووفقا ".According to the study, the policies followed to transform the Iraqi economy to lifting support a free market and the dismantling of state organs, heightened levels of deprivation. "
الحرةShe said that the major reconstruction efforts (...) Aimed to ensure basic services to the population must precede the a shift from centralized to a free-market economy

Translated version of http://www.alsharqiya.com/display.asp?fname=aboutus%5C2006%5C008.txt&storyti

Originally Posted by shotgunsusie

this is great SGS but when is it going to happen! Oh well of to buy more shares an increase my portfolio!.