Thread: Iraq/Dinar News up until March 28th 8PM CT.

Originally Posted by Mike5200

...AND COMMENTS ON CABINET RESHUFFLE
Prime Minister al-Maliki told reporters on March 16 that talks are ongoing among political parties to reshuffle the cabinet. "Names are proposed and deliberations are continuing. When we talk about change, we seek to look for the best that can provide the desired and required service in this or that ministry. That is why we are a bit late. Time drags on because we are looking for the best," he said. "When we get the names of the ministers nominated by their lists and blocs, we will immediately go to parliament." KR

they need that speed reading course.

I could read this over and over again.

CBI adopts fixed ID exchange rate


Baghdad (NINA)- The Central Bank of Iraq CBI has announced adopting the exchange rate of Iraqi Dinar against the US Dollar, settled on last Thursdays auction until March 19. A CBI statement said Saturday that the measure came within the previously adopted measures, aiming at boosting Iraqi Dinar

A FIXED RATE DEFENITION
A fixed exchange rate, sometimes (less commonly) called a pegged exchange rate, is a type of exchange rate regime wherein a currency's value is matched to the value of another single currency or to a basket of other currencies, or to another measure of value, such as gold. As the reference value rises and falls, so does the currency pegged to it. A currency that uses a fixed exchange rate is known as a fixed currency. The opposite of a fixed exchange rate is a floating exchange rate.

Revaluation means a rise of a price of goods or products. This term is specially used as revaluation of a currency, where it means a rise of currency to the relation with a foreign currency in a fixed exchange rate. In floating exchange rate correct term would be appreciation. The antonyme of revaluation is devaluation.

Source: NINANEWS

Iraq dinars Dinar Trade

Originally Posted by shotgunsusie

they need that speed reading course.

Funny,

More like a speed mind building course as most are illiterates, so reading is only one aspect missing in Iraqi gov. lol

Good luck to all, Mike

Tuesday, March 20, 2007

1 Iraqi Dinar = 0.0008231 US Dollar
1 US Dollar (USD) = 1214.94 Iraqi Dinar (IQD)

Learn about the new Iraqi Dinar
Median price = 0.0007489 / 0.0008231 (bid/ask)
Minimum price = 0.0007483 / 0.0008224
Maximum price = 0.0007490 / 0.0008231

FXTrade: Online Currency Trading with OANDA FXTrade.

FXConverter - Currency Converter for 164 Currencies164 Currency Converter © 1997-2007 by OANDA.com.

TNT

Iraqi News
Tuesday, March 20, 2007 Iraq to raise oil prices by 15%
(MENAFN) An official at the Iraqi Oil Ministry said that the Iraqi government will raise the prices of oil derives in order to reduce Iraq's $140 billion debt, Iraq Directory reported. The government plans to increase the prices according to the provisions set by the International Monetary Fund (IMF) and Paris Club, which state that the Iraqi oil prices should increase to the level of international prices during their last meeting with Iraqi officials in order to cut the Iraqi debts by 80 percent, he said. However, Iraq will increase the prices by 15 percent only, less than the rates requested by the IMF and Paris Club due to the inability of Iraqi people to afford bigger raise, he stated. The prices will increase to 31 cents per litter of benzene instead of 27 cents, and 27 cents per litter of gas instead of 23 cents among other fuel price increase, he explained.

http://www.tbiraq.com/menafn_news


Isn't Iraq still under the oil for food program?

TNT

Parliament had a meeting on SATURDAY to discuss the HCL...



السيد رئيس مجلس النواب يؤكد ان البرلمان العراقي يعكف على دراسة قانون النفط بعناية كونه يعالج وينظم استثمار اهم مورد وطني للعراقيينMr. Speaker of the House of Deputies confirms that the Iraqi Parliament was examining the law carefully, it deals with oil and regulates investment and the most important resource for the Iraqi national
السبت 17-3-2007Saturday, 3-17-2007

بين السيد رئيس مجلس النواب د.Mr. Speaker of the Chamber of Deputies d. محمود المشهداني حرص واهتمام البرلمان باصدار التشريعات الاستثمارية والاقتصادية اللازمة لتحريك وانعاش الاقتصاد الوطني وبما يضمن مصالح الشعب العراقي....Mahmoud Almshahadani keen interest in Parliament and the issuance of investment and economic legislation required to move the recovery of the national economy and to ensure the interests of the Iraqi people ....

واوضح د.And, he added. المشهداني خلال لقاءه في مكتبه صباح اليوم السبت الموافق 17-3- 2007 وفد الكونغرس الامريكي برئاسة العضو الجمهوري سونو نو، ان البرلمان العراقي يعكف على دراسة قانون النفط بعناية وتأني لاهمية القانون في رسم وتحديد مستقبل البلاد كونه يعالج وينظم استثمار اهم مورد وطني للعراقيين جميعا، مشددا على ان اهم تحد يواجه العراق في المرحلة الراهنة هو الامن، مما يتطلب تضافر جهود جميع العراقيين، ودعم المجتمع الدولي لتحقيق الاستقرار في البلاد وفرض سلطة القانون.Almshahadani during a meeting in his office this morning, Saturday, 3-17-2007, the American Congress delegation headed by Republican member Sono No, that the Iraqi Parliament was examining the oil carefully and again to the importance of law in shaping and defining the future of the country and organize it deals with the most important resource investment and national all Iraqis, stressing that the most important challenge Iraq faces in the current stage is security, which requires concerted efforts of all Iraqis, and the support of the international community to achieve stability in the country and to impose the rule of law. واشار د.And, he said. المشهداني الى ان العراق سيشهد حركة اعمار ضخمة وتنفيذ مشاريع خدمية وتنموية مهمة فور استباب الاوضاع في البلاد.Almshahadani out that the reconstruction of Iraq would be a huge service and the implementation of projects and development mission once the situation in the country. وجرى مناقشة التطورات الامنية والسياسية، والتأكيد على ضرورة ان تحظى العملية السياسية بدعم وثقة جميع العراقيين من خلال اشعار جميع المكونات والقوى السياسية والاجتماعية، بدورها ومساهمتها في بناء بلدها.It was discussed political and security developments, and emphasized that the political process has the support and confidence of all Iraqis through notice of all components and the political and social forces, the role and contribution in building their country.

Translated version of http://www.coriraq.net/ara/default.aspx

Posted by "rvalreadydang"
"....it can be said for all investors from the Arabs and foreigners, you enter now it will be a golden opportunity for you."

OMG!! Y'all see this? I can't believe I just read this. Now I'm totally excited!!!

This may have already been posted. Thank you.

Foreign Office helped set up Iraqi oil deals
by Tim Webb

Ambassador passed 'roadmap' report to Baghdad

The British Government intervened to help UK and US energy giants in their attempts to secure lucrative contracts to exploit Iraq's ruined oilfields.

The Foreign Office delivered a report by the International Tax and Investment Center (ITIC) - a Washington-based think-tank backed by a host of multinationals, including oil companies such as Shell and BP - to Iraqi officials in Baghdad, it has emerged.

The British ambassador to Iraq formally sent the "road-map" study on the Iraqi oil industry to the then Iraqi minister of finance, according to documents seen by The Independent on Sunday. The study recommended the Iraqi government sign long-term production-sharing agreements with foreign oil companies.

Emails between civil servants also showed that the Foreign Office helped the ITIC secure an audience with senior officials from the Iraqi Oil Ministry so that it could present its report.

The ITIC hosted a conference in Beirut in January 2005 to give a formal presentation to Iraqi ministers. Executives from BP, Shell, ChevronTexaco, the Italian oil company ENI and its French rival Total attended.

A diplomat from the Foreign Office, who helped the ITIC further its relationship with the Iraqis, was also present.

The story of the envoys' involvement was revealed on Friday night by the Arab broadcaster Al-Jazeera as part of its People and Power documentary series.

Greg Muttitt, the co-director of the campaign group Platform, said: "There is no question that the British Government is exploiting its position as an occupation power to push its own oil interests and those of multinational companies."

Kim Howells, a Foreign Office minister, told the Al-Jazeera programme that the accusation that the British government was influencing Iraq's oil industry was "paranoia gone completely loopy".

Separately, the IoS has learnt that the ITIC is planning another key conference to be attended by oil company executives and senior Iraqi government figures.

They will discuss in greater detail the tax regime that will accompany the long-awaited hydrocarbon law, which should be approved by the Iraqi parliament by the summer. The ITIC chairman, Daniel Witt, stressed that it would be an "educational programme" rather than an opportunity for oil majors to lobby Iraqi ministers.

Asked if the Foreign Office had helped organise the new conference, pencilled in for May, he replied: "Not yet. I do not know if they will."

He said that the British Government's support for the ITIC was in line with its policy of supporting an open investment policy. "It's not unusual for human beings who share common views to work together and help each other. I would not view it as wider co-operation pushing a common agenda."

But Mr Witt admitted the Foreign Office had helped the ITIC gain access to more senior Iraqi officials.

Production-sharing agreements allow companies to make vast profits once they have recouped their costs. Because of the controversy caused by the inclusion of the term in early drafts of the hydrocarbon law, it has now been dropped. It is not clear what will replace this.

Energy Will Shine Again

By Dimitra DeFotis
March 20, 2007
MOST ENERGY INVESTORS found their returns flickering last year as oil prices finally sagged. But John Segner, the well-respected portfolio manager who runs the AIM Energy Fund (FSTEX1), still eked out a nearly 10% return. That's not too surprising since Segner's nearly 17% average annual return in the decade he's managed the fund (first for Invesco and, more recently, AIM) ranks among the top 11% of all natural-resource vehicles. In 2006, giant integrated exploration and refining stalwarts helped power his gains.

Segner thinks that 2007 could be another flat year for oil prices, though he's confident that demand from China, combined with the difficulties of replacing production worldwide, should push prices and energy stocks higher in 2008. Right now, Aim Energy is betting on a rebound from some of big oil's weaker performers. He also thinks that nuclear plants are a necessary evil worthy of consideration and is a fan of a few domestic natural-gas plays. Finally, he remains a bull on the U.S. oilfield-services companies whose headquarters dot the skyline near his Houston office. For specifics, read on.

Barron's: Is it all roses for the energy sector?

Segner: I think the natural-gas and oil markets are going to be tightening up — 2008 and 2009 are going to be good years to be invested in energy. There are a lot of people who think energy stocks, with contracted multiples, won't perform as well, that the run is over, that we have found all the supply we need to meet demand. I think this is a brief pause in the energy shortage, with some production growth in 2007. I don't think in 2008 and 2009 we will have that situation. People are underestimating demand and overestimating supplies.

Where would the new supply come from?

I really don't see a lot of non-OPEC production growth. Everything else is going to be dependent upon the Organization of Petroleum Exporting Countries being able to increase production. There will be some [rise] certainly out of Saudi Arabia, but are Venezuela, Nigeria, Iran or Iraq really going to increase their capacity? It's hard to say they are. This year, the world is going to use about 86 million barrels of oil per day. And if every oil well in the world were running, assuming 1.2% production growth, we are producing around 88 million barrels a day. Reserves that we are putting on, in general, don't produce as fast as the reserves we are replacing. ...

Interesting article about oil production/profits worldwide...Article very long and abbreviated. Thank you.

Originally Posted by apwerner

Posted by "rvalreadydang"
"....it can be said for all investors from the Arabs and foreigners, you enter now it will be a golden opportunity for you."

OMG!! Y'all see this? I can't believe I just read this. Now I'm totally excited!!!

i read that out loud to my brother and niece yesterday. theyve yet to get excited because all i do is say its comin and it never happens, lol.

oh, and yes, they got excited about that!