Thread: Iraq/Dinar News until April 26, 2007 Midnight cst.

Shahrastani confirms that the oil bill remains in the hands of Iraqi oil
20 / 04 / 2007

AFP) - The Iraqi Oil Minister Hussein Shahrastani Wednesday that the draft law on oil and gas will remain the Iraqi oil wealth in the hands of the Iraqi and the Iraqis would be in the interests of all Iraqi groups.

Shahrastani told reporters in the United Arab Emirates, "We can not under any circumstances that Iraq abandons its authority and responsibility and control over their natural resources."

It will open the draft law, which was approved by the Iraqi government last February after months of controversy oil sector to foreign investors.
However, Shahrastani said that the incentives will be given to international oil companies to invest in this sector will be through the profit margins it will get "and not through control of Iraq's wealth."

A number of oil experts and politicians expressed concern that the production-sharing contracts, which speaks of a draft to the country's resources in the hands of foreign companies. Some also opposed the granting local authorities powers to negotiate oil contracts.

In statements on the sidelines of a conference on the draft law organized by the Iraqi Parliament in Dubai Shahrastani said, "There is no major oil company in the world, and expressed interest -- and no longer any small company, but also expressed an interest" to enter the market Iraqi oil.

And Iraq has about 115 billion barrels of oil reserves and can produce 10 million barrels a day for decades, according to analysts.

However, the current production is almost two million barrels a result of decades of investment in the oil infrastructure and the lack of security in Iraq since the invasion, which led the United States to that country in 2003.

The draft law aims to oil distribution of oil revenues evenly among Iraq's 18 provinces on the basis of population after the federal census. , Which will be the establishment of the federal oil and gas.

He said planning for Papan to the conference that the law "serves the interest of all Iraqis, not just the oil-producing regions."

The focus of most of the oil production in southern areas, while Shiite concentrated best prospects for finding new oil wells in the Kurdistan region in northern Iraq.

The Kurds claim their right to oil wells currently located in the north of the country around the city of Kirkuk, despite the opposition of the city's population of Arabs and Turkmen.

The year living in areas of central Iraq free of oil resources has expressed concern about the loss of their share of oil revenues under the federal system.

However, the oil minister of the Kurdish regional government Asti Hourami oil minister in the Kurdistan region said that the draft law persist in trying to calm the fears of the year and not commensurate with the provisions of the Federal Constitution.

Huarme complained that the draft law put 90% of the Iraqi oil reserves under the control of the "central institution and ineffective" in a reference to the Iraqi National Oil Company of the government, which will be revived under the law.

In case of failure of the parliament to approve the draft agreement in the agreed deadline of the end of May, the government will award contracts Kurdistan itself as Hourami.

He added that the territorial government wishes to "direct administration" for the share of the oil resources that do not receive orders from the federal government on how to spend its money.

Study : 100 billion barrels of oil in the Sunni areas of Iraq
20 / 04 / 2007

An independent study prepared by the international consulting pioneer in the field of energy, that the current estimates of Iraqi oil reserves had doubled with the presence of huge stocks of over 100 billion barrels under the desert sand western region inhabited by the Sunni majority, was until recently considered itself deprived of the wealth concentrated north and the south of the country.

The study estimated that the company published Wednesday IHS taken from the jurisdiction of the Colorado-based American, said that turning those amounts to Iraq, one of the biggest oil exporters in the world, the most attractive to international companies in this sector, in the event of successful efforts to improve the security conditions in that region.

It is known that the oil reserve established in Iraq of 115 billion barrels, and if the new reserve was confirmed, Iraq will by Iran to become the second largest oil wealth behind Saudi Arabia, with a reserve of at least 215 billion barrels.

The Iraqi Oil Minister Hussein Shahrastani has alluded to this Wednesday in an interview with the CNN in Arabic, which confirmed the discovery of a giant new fields in the western region near the Syrian border called "Ekaas."

The balloon study is the first research independent consultant since the American invasion of Iraq in 2003 Baghdad to be able to double their production capacity and lifting to four million barrels per day within five years, if we have the necessary investments.

The western region, which has talked about the institution of the majority Sunni area, where armed groups, and is well known for opposing any laws that limit the profits of oil nationwide that contains that article, as this would have an exception, as it was the general belief that the non-oil.

Nobody knows yet whether the study was to change attitudes in Iraq from the federal system, the distribution of oil wealth, noting that IHS confirmed its determination on its website published a detailed map (Atlas) illustrate the geographical distribution of Iraqi oil.

The Iraqi government has, as a result of political settlements, to amend the initial draft of the law by the oil and gas, so they can return to the national memorial for Iraq's oil, and the deposit of all the country's oil revenues to a central fund one.

This has raised objection large segments, mainly Kurds, as described Asti Horani, Minister of the government of the Kurdistan oil project as "a Ba'athist and nationalist", he said, adding his government full support.

The Iraqi oil reserves may double its current estimates
20 / 04 / 2007

(AFP) - A study published in the newspaper "Financial Times" Thursday that the size of Iraq's oil reserves may be greater than current estimates doubled pointing out that the country's output could double within five years.

According to the report, which is more complete studies since 2003, the report prepared by the Office of "any HP S" indicates that the exploitation of oil is linked to the improvement in the security situation in Iraq is drowning in a whirlpool daily acts of violence since the American invasion and the fall of Saddam Hussein's regime in 2003.

He explained Ron Mubid official at the Department of Energy in the Office "any HP SIM," that "the security situation is very bad no doubt but if we look at the opportunity provided by the earth, we find there is no equivalent in any other place," according to the newspaper.

She added, "Financial Times" that a doubling of the oil reserves in Iraq would mean an increase of one hundred billion barrels compared to 116 billion now exceeds the country by Iran to be in second place worldwide in terms of oil reserves after Saudi Arabia.

According to a study conducted by the Office of "any HP SA", Iraq has also doubled the current rate of production within five years to reach four million barrels per day is the increase in foreign investments in the country.

The report is based on data collected before and after the outbreak of war in 2003.

Invitations parliamentary impeachment Maliki day after massacres
(Voice of Iraq) - 20-04-2007

Baghdad-agencies : gained policies Iraqi Prime Minister Nuri al-Maliki security yesterday largely criticism reached a claim his dismissal after the worst day she experienced the Iraqi capital, Baghdad, since the entry of American forces to four years ago at a time when the American Defense Minister Robert Gates to Baghdad to urge the Iraqis to speed up the process of reconciliation and warn them of the impatience of the United States where there is a harsh political battle between the administration of President George W. Bush and his opponents pour it reached a leader of the Democrats in the Senate that the United States was defeated in the war ..... ( see p. 29).

Although on "relatively calm" over yesterday on Iraq, which did not only kill 20civilians and decision-Maliki arrest senior Iraqi officer responsible for policing in the neighborhood chest "because of recurrence of the tragic," it called "Iraqi National Accord Movement" led by former Iraqi Prime Minister, Dr. Iyad Allawi to "change the government Nuri al-Maliki, "asserting that" this is the solution to the current Iraqi crisis. "

The Movement, which is part of the "Iraqi List" : "The failure of the security plans and policies evidence of a lack of government vision and the weakness of the foundations of therapeutic problems of the people and the homeland," saying that "treatment begins status and the heart of a resolution of sectarian, ethnic and provincial abhorrent have brought to Iraq only pain and calamities."

The deputies criticized the Iraqi security plan in Baghdad after the massacre chest and said Ani hailed the deputy "Islamic party" partner in the "Accord Front" (44 seats) "There are problems and shorten significantly How can target the chest three times? .. There is no doubt that there is a big breach in the security plan. "

Synchronization and political escalation against Al-Maliki and with the arrival of American Secretary of Defense Robert Gates to Baghdad yesterday to the Iraqi leaders that the United States wants to make faster progress in the reconciliation efforts, said Gates "for the Iraqis to know .. This is not an endless. " In reference to the continuing American military presence in Iraq and the level of support for the Iraqi government.

The recording and interpreting Washington of the reality in Iraq with perceptions Maliki, who spoke before the arrival of Gates on the "open war" between government forces and fighters of the "Al Qaeda" and supporters of former President Saddam Hussein.

In Washington, escalated the sharp differences between Bush and Democrats who said their leader in the Senate Alsenatorhari Reed said that the war in Iraq "losers" and additional American forces sent to the troubled country did not succeed in bringing peace there.

Reed said, "I think that this war will incur losses, and increasing the number of American forces would not achieve anything, as is clear from the extreme violence witnessed by Iraq this week."

The failure of the meeting between President Bush and the leaders of the Democrats in the White House was dedicated to discussing the law on the financing of the war, which Bush threatened Btatelh if included by the Democrats plan for the withdrawal of .2008

Preparations to hold conference of international convenient
19 April 2007 (Al-Sabaah)

Minister of finance has discussed with his Egyptian counterpart preparations to hold the meeting of international convenient which would be held next month in Egypt.
Minister showed that Iraqi government looks forward for the support of its brother states to rise again to build a strong economy with no debts that have been attached to it by acts of previous regime, stressing the importance the essential role of Egypt to end Iraq's debts in international convenient.

The Minister of Finance, Mr. speech at the beginning of the meeting in which he thanked the International Monetary Fund for hosting the Iraqi delegation explaining the latest economic developments in Iraq, explaining the reasons for the failure to achieve execution rates

.The budget for 2006, which amounted to the highest implementation rates for the ministries of 50% due to the security situation, which greatly impaired the Iraqi and foreign companies from entering into contracts or contracts processing, as well as a lack of flexibility and instructions to execute the contracts that were inherited from the former regime has released funds in the budget. in the month of July 2006 of the same year, which means that the ministries did not take enough time to implement their budgets and the lack of expertise and lack of the middle echelon cadres are capable of implementing such projects led to the delay in implementation of the Economic Committee under the chairmanship of Deputy Prime Minister Barham Ahmed Salih take measures to accelerate implementation of the budget and encourage units expenditure on implementation why funds launched soon to ratify the 2007 budget at the end of the second month and that the budget of 2007 in the text of Article 14 that the ministries will implement 25% of their budgets until July 2007 allocations will be transferred to other ministries capable of implementation The Ministry of Finance recently held for nine ministries attended the service and 80% of the cadre and the Ministry of Finance to discuss those ministries in the implementation of projects has surprised us by the Minister of Communications that he had carried out 90% of its budget for 2007 At the end of his speech, the Minister of Finance that the current year will be much better than previous year in ratios implementation of the budget and explained the Minister of Finance on the subject of turning the Iraqi debt that there is good signals from the Kingdom of Saudi Arabia to discuss the Iraqi debt extinguishment stressing that the ratio of debt reduction to 8% instead of 100% is the proportion of non-acceptable to the Iraqis because their debts and their words were for amounts in support of war Saddam Iran with a point DISCORD and an important point for us and the Iraqi Allmwatuna and Mr. Sinan Shabibi governor of the Central Bank of Iraq one of the members of the Iraqi delegation that there are good developments such as the inflation rate, which is currently 23%, stressing that there is disparity in the level of interaction with debts of Iraq and asked the Iraqi Central Bank governor The International Monetary Fund says that the exemption of Iraq debt issue of interest to the Fund and encourage and help Iraq and the IMF to complete their programs in Iraq and Mr. Khan Chief of the International Monetary Fund the Fund optimism of good economic policy in Iraq and here that Iraq's record of achievements, stressing the need to reduce inflation Economic and implementation of the budget and raise the rates, especially the implementation of the investment budget for the oil sector to increase production rates, he said, pointing out that next September will Iraq to the Convention (SBA) from September 2007 to December 2008 in order to enjoy exemptions provided by the Paris Club and comes after the end of this Convention the first agreement and the implementation of each of Iraq state and the IMF suggested that there be a meeting in Amman short end of this month and another meeting in mid-May to discuss Article IV of the Convention and the completion of the current program and promised to the International Monetary Fund announced that the economic developments in Iraq in Sharm El-Sheikh meeting will support the steps where Iraq's economic confident despite of all the challenges facing Iraq and the economic policy is working smoothly with the fund, the World Bank has reported that the meeting was attended by Mr. Sinan Shabibi governor of the Central Bank of Iraq and adviser to Mr. Vice President and Mr. Vice Governor of the Central Bank and advisor of the Office of the Deputy Prime Minister and senior officials from the International Monetary Fund

ÌÑíÏÉ ÇáÚÏÇáÉ ÇáÚÑÇÞíÉ - æÒíÜÜÜÑ ÇáãÇáíÜÜÜÜÉ..ÇáÓäÉ ÇáÍÇáíÉ ÓÊßæä ÇÝÖá Ýí äÓÈ ÊäÝíÐ ÇáãæÇÒäÉ

AFP) - The Iraqi Oil Minister Hussein Shahrastani Wednesday that the draft law on oil and gas will remain the Iraqi oil wealth in the hands of the Iraqi and the Iraqis would be in the interests of all Iraqi groups.

".Shahrastani told reporters in the United Arab Emirates, "We can not under any circumstances that Iraq abandons its authority and responsibility and control over their natural resources."

.It will open the draft law, which was approved by the Iraqi government last February after months of controversy oil sector to foreign investors.

الا ان".However, Shahrastani said that the incentives will be given to international oil companies to invest in this sector will be through the profit margins it will get "and not through control of Iraq's wealth."

.A number of oil experts and politicians expressed concern that the production-sharing contracts, which speaks of a draft to the country's resources in the hands of foreign companies. .Some also opposed the granting local authorities powers to negotiate oil contracts.

.In statements on the sidelines of a conference on the draft law organized by the Iraqi Parliament in Dubai Shahrastani said, "There is no major oil company in the world, and expressed interest -- and no longer any small company, but also expressed an interest" to enter the market Iraqi oil.

.And Iraq has about 115 billion barrels of oil reserves and can produce 10 million barrels a day for decades, according to analysts.

.However, the current production is almost two million barrels a result of decades of investment in the oil infrastructure and the lack of security in Iraq since the invasion, which led the United States to that country in 2003.

.The draft law aims to oil distribution of oil revenues evenly among Iraq's 18 provinces on the basis of population after the federal census. Which will be the establishment of the federal oil and gas.

".He said planning for Papan to the conference that the law "serves the interest of all Iraqis, not just the oil-producing regions."

.The focus of most of the oil production in southern areas, while Shiite concentrated best prospects for finding new oil wells in the Kurdistan region in northern Iraq.

.The Kurds claim their right to oil wells currently located in the north of the country around the city of Kirkuk, despite the opposition of the city's population of Arabs and Turkmen.

.The year living in areas of central Iraq free of oil resources has expressed concern about the loss of their share of oil revenues under the federal system.

الا ان.However, the oil minister of the Kurdish regional government Asti Hourami oil minister in the Kurdistan region said that the draft law persist in trying to calm the fears of the year and not commensurate with the provisions of the Federal Constitution.

.Huarme complained that the draft law put 90% of the Iraqi oil reserves under the control of the "central institution and ineffective" in a reference to the Iraqi National Oil Company of the government, which will be revived under the law.

.In case of failure of the parliament to approve the draft agreement in the agreed deadline of the end of May, the government will award contracts Kurdistan itself as Hourami.

.He added that the territorial government wishes to "direct administration" for the share of the oil resources that do not receive orders from the federal government on how to spend its money.

marsadiraq.com

Maliki-Visit
Posted by: saleem on Thursday, April 19, 2007 - 10:49 PM
Maliki to visit Kuwait, Egypt
By Adel Fakher

Baghdad, Apr 19, (VOI)- Iraq's Prime Minister Nouri al-Maliki will visit Kuwait and Egypt, a source at Maliki's office said on Thursday while the government spokesman said Maliki will arrive in Cairo on Sunday.

"Iraqi Prime Minister will start his visit to Kuwait on Friday to bolster Iraq's relations with Arab countries ahead of the neighbors conference scheduled in Egypt early May," the source, who asked not to be named, told the independent news agency Voices of Iraq (VOI).

Meanwhile, the spokesman for the Iraqi government Dr. Ali al-Dabbagh said "Prime Minister Nouri al-Maliki will arrive in Cairo on Sunday."

"Maliki will also visit the Arab League headquarters while in Cairo," al-Dabbagh told reporters after meeting AL secretary general Amr Mousa in Cairo.

The source from al-Maliki's office said that the Iraqi Premier will meet the Egyptian President Hosni Mubarak during his official visit to Egypt.

WTO postpones first meeting on Iraq membership bid - sources
04.19.07, 12:29 PM ET


GENEVA (Thomson Financial) - The World Trade Organisation has postponed the first meeting on Iraq's bid to join the body, which had been scheduled for tomorrow, trade sources said.

The move followed an official request from Iraq. No specific date has been set yet for the postponed meeting, the sources said.

Iraq applied to join the global trade club in Oct 2004. Its oil-dependent economy has been ravaged by decades of sanctions followed by spiralling violence and unemployment since the US-led invasion in 2003 to topple Saddam Hussein.

No reason was given for the postponement.

http://www.forbes.com/markets/feeds...afx3630917.html

Iraq may be world's top oil producer
Khaleej Times - 20/04/2007

(MENAFN - Khaleej Times) DUBAI � Iraq's oil reserves could be twice as great as was previously thought. Iraq has known reserves of 116 billion barrels and could be sitting on potential reserves of a further 100 billion barrels, according to a study by Texas-based energy analysts, IHS. If confirmed, Iraq could overtake Saudi Arabia as the world's top oil producer.

Iraq's oil reserves are significantly untapped and daily production could be doubled within five years, the study said. Current output of two million barrels a day is lower than in early 2003, when three million barrels were being pumped, and almost half that being produced in 1979. Iraq has the capacity to increase production to four million barrels by 2012, if international investment begins to flow, with the capacity to further increase that to six million within time, according to IHS estimates.

The study is considered the most comprehensive independent analysis of the country's resources since the US-led invasion in 2003. It is based on data collected in Iraq before and after the invasion, showing the oilfield's reserves and production history. Its estimate is based on analysis of geological surveys.

IHS' president and chief operating officer, Ron Mobed, described Iraq's reserves as "phenomenal", adding that they represented a "gold star opportunity." "Obviously the security situation is very bad, but when you look at the sub-surface opportunity, there isn't anywhere else like this. Geologically, it's right up there, a gold star opportunity."

He stressed that the security situation needed to improve dramatically if the foreign investment necessary to improve the country's infrastructure was to materialise. "Obviously, the security situation is very bad. But once the infrastructure is in place, the oil will come out of the ground quite cheaply", said Mobed. IHS estimates that production costs are less than $2 a barrel.

Of Iraq's 78 oilfields identified as commercial by the government, only 27 are currently producing. A further 25 are not yet developed, but are close to production. Another 26 are not yet developed and are far from production. The study found that Iraq's two main oilfields, at Kirkuk in the north of the country and Rumaila in the south, were operating below capacity.

Earlier this year, the Iraqi government agreed a draft law for how its oil wealth would be shared among ethnic groups, seen as crucial to encouraging new investment.

The proposed law is due to be considered by the Iraqi parliament shortly, although the Kurdish region rejects some of the proposals.