Thread: Iraq/Dinar News until 5/23/07 Midnight CST

looks like it is getting closer. mmmaybe July will bring it out. The great RV on the US 4th of July! we would have a double holiday.

Originally Posted by PAn8tv

Agreed, especially after they came back on and offered an explanation and an apology. Unless of course they were doing the ole Jeckyl and Hyde thing

LOl exactly jeckly/hyde perhaps.....but dang it, it's hard to tell through cyberspace, lesson learned, I WILL NOT LET MY KIDS NEAR MY PUTER ALONE, LOL

Fuchs Oil Middle East celebrates a decade of success in the region
15 May 2007 (AME Info FZ LLC)

Fuchs Oil Middle East (FOMEL), distributors of the Fuchs product range including oils for gasoline engines, gear and transmission, industrial applications, diesel and marine engines plus greases and speciality products, combined the celebration of 10 successful years in the Middle East and North Africa with an intensive distributor conference held in Dubai and attended by delegates from all across the region.

FOMEL, an affiliate of FUCHS Petrolub AG, Germany is the regional export centre for the brand, located in the Sharjah Airport International Free Zone, Sharjah, UAE - the office is responsible for operations covering the Middle East, North and West Africa, Iran and Pakistan.

FOMEL, supported by Saudi-Arabia based Alhamrani - Fuchs Petroleum S.A. Ltd. (AFPSA), has a team of dedicated personnel with expertise in the fields of marketing, sales, technical know-how and finance, and extends its services to distributors throughout the region.

Headed by high level representatives including Stefan Fuchs (Chairman & CEO, Fuchs Petrolub AG), Sheikh Siraj Alhamrani (Chief Executive Officer, Alhamrani Fuchs Petroleum S.A. Ltd. & Fuchs Oil Middle East Ltd.) and Mezahem H. Basrawi (Chief Operating Officer, Alhamrani Fuchs Petroleum S.A. Ltd. & Fuchs Oil Middle East Ltd.), the distributor conference focused on the ambitious plans that the company has for the future, and outlined planned distributor support which will utilise the latest marketing strategies to ensure that the brand continues to command a leading position in the sector across the region.

'I'm delighted that virtually almost all of our partners have been with us right from the start, as this has allowed us to establish a really strong team and maximise continuity,' said Sheikh Siraj Alhamrani, CEO, AFPSA & FOMEL. 'This is one of our main business strengths, as it means we are able to offer a consistently high level of service to our clients and they in turn also benefit from the wealth of experience and expertise present in all of our markets.'

Since its establishment in 1997, FOMEL has consistently expanded its operations, and today covers 27 countries.
"We have built dominant market share through our partner's network and have succeeded in generating solid brand awareness for our outstanding products - we have also won over customers as a result of our customer focused marketing approach and innovative service concepts,' said Mezahem H. Basrawi, COO, AFPSA & FOMEL.

'Our vision is to be a total solution provider in the lube sector, and to deliver this we combine high quality service, a total of over 125 years of lubricants experience, a dedicated and highly motivated team plus a product range that encompasses 10,000 lines, covering everything from spe******ed applications varying from digital cameras and other high tech items through power to massive generating engines,' he added.

FOMEL has penetrated important market sectors and niches across the Middle East, North, East and West Africa and the Near East, resulting in the expansion of market segments. Market leadership has been established in some of the region's most important markets, such as Iraq and Yemen. 'We have continued to make major breakthroughs in the MENA region, and have initiated successful projects that have made us become the only multinational to have so many plants in the region and such brand strength within such a relatively short timeframe,' added Basrawi.

In Iraq, the Fuchs brand is the clear market leader, with the highest share of brake fluid sales (making it the region's number one in the sector by a long way) as well as its own blending plant which is under construction, while in Jordan, the company is the main supplier to the government sector, and Fuchs greases are approved to the exacting standards of the Jordanian Standard Organisation.

Elsewhere in the region, FOMEL's experience and expertise saw it establish a state of the art blending and grease plant in Sudan, and build domination of the Yemeni market following the approval of the Yemeni Standard Organisation for the entire range of Fuchs lubricants.

In Tanzania, Fuchs is the main supplier for the mining sector, and construction of blending plants for lube oils and greases is underway there and also in Morocco and Egypt, where Fuchs was the first independent lubricant company to be granted a production licence. Success has also been enjoyed in Pakistan, where Fuchs has effectively taken charge of one of the world's most competitive markets, initiating the construction of a blending plant and aggressively marketing Fuchs lubricants through petrol pump and lube oil centres.

FOMEL's success, which also comprises operations in Mali, Algeria, Uganda, The Congo, Iran, Oman, Syria, Kenya and Qatar, has seen it building on that of Alhamrani-Fuchs Petroleum Saudi Arabia Ltd. (AFPSA).

Formed as a joint venture in 1995 between Fuchs Petrolub Germany AG - amongst the largest independent producer of lubricants in the world with operations in over 120 countries, and the Alhamrani Group, one of the most prominent Saudi private sector companies with diverse interests that include, in addition to petrochemicals, automobile distribution, manufacturing, real estate, high tech products, aviation, machinery and industry, AFPSA is strongly established as one of the leading lubricant companies in Saudi Arabia and the region as a whole.

Its state-of-the-art manufacturing, training and development complex in Yanbu is the largest of its kind in the Middle East and North Africa, covering over 100,000 sqm and comprising blending and grease manufacturing plants which have a blending capacity of 113,000 metric tonnes and 7,000 metric tones respectively in a 14 hours shift, making it by far the largest facility of its kind anywhere in the region.

As well as being the first to obtain ISO-9002 quality certification, it also has the unique distinction of being the first and the only environment-friendly blending plant in the Middle East and Africa certified by ISO-14001. A complete range of top quality lubricants, greases and speciality products is manufactured here to the highest international standards to serve its vast customer base spread all over the Kingdom and abroad. AFPSA has also been recognised through a best supplier award received from Saudi Basic Industries Corporation (SABIC), the largest and most profitable non-oil company in the Middle East and one of the world's10 largest petrochemicals manufacturers.

'The MENA region, with so much development and infrastructure work underway, still has enormous potential for us,' said Basrawi. 'There is huge scope for further expansion of the Fuchs brand, as our lubricant products are essential in literally hundreds of applications, from cars and motorcycles through to haulage, passenger transportation, the steel and mining industries, vehicle manufacturing as well as agriculture and the construction business. In all of these market sectors, lubricants are vital to ensure continued operation and efficient operation, which is why we have placed such strong emphasis on client service and rapid response. As we celebrate our tenth anniversary, we are totally focused on the challenges and opportunities that face us over the coming decade and continue to identify further innovative approaches that will cement our market leadership position.'

Originally Posted by snottynose

I wonder if tomorrows auction will bring us too 1260..i know it's been tossed around a bit that something may happen with that number,what are some thoughts on it guy's?What do you all think about it?I would love to wake up tm and see a new and improved rate..like maybe 1 or more!!!!!
Sarah!!

i beleive 1260 will be no different then the rest of the rates, only because i also beleive it was the base number for the budget to go off of, this week is exciting we can all see if the rates go beyond that magical 1260

Originally Posted by duck2000

I think that it may hit 1260 tomorrow but thats not the majic number that everyone thinks that it is it will take some more time!!

DITTO!! ON THE MAGICAL NUMBER PART, LOL MORE TIME YIKES!

Iraq supports Kirkuk crude stockpiles after resuming export
Iraq supports Kirkuk crude stockpiles after resuming export
Translated by IRAQdirecotry.com - [15/05/2007]


Iraqi oil official said on Thursday that Iraq's Kirkuk crude increased the quantities stored in Turkey to about two million barrels after the resumption of crude oil exports through the northern pipeline to Turkey earlier this week.

He said that it is a usual procedure for the Iraqi State Oil Marketing Organization (SOMO) to start an auction sale when the quantities stored at the Turkish port of export at the Mediterranean approach the level of four million barrels.

The official added, "There were some rough flows during the past few days", but he was not sure whether the pumping continued on Thursday.

Iraq last exported Kirkuk crude last January when SOMO sold a total of three million barrels to the companies: the French Total, the Spanish SIPSA and the Italian E.R.G.

The sabotage attacks led to the suspension of the northern pipeline most of the time since the invasion led by the United States to Iraq in March 2003. Iraq is mostly depending on the southern oil port of Basrah, which exports about 1.5 million barrels a day.

Originally Posted by bob1940

looks like it is getting closer. mmmaybe July will bring it out. The great RV on the US 4th of July! we would have a double holiday.

JULY, Bob....JULY , talk like that and you might get banned Seriouly thanks for the imputs and positive things you bring

Quantum leap to shares after adopting the electronic trading on the Stock Exchange Quantum leap to Iraqi shares after adopting the electronic trading on the Stock Exchange
Translated by IRAQdirecotry.com - [15/05/2007]


Investors on the Stock Exchange expect that the "Iraqi market for securities» will say good-bye to the manual circulation, which has been adopted since its establishment for nearly 15 years, during the coming period after the arrival of equipments, hardware and electronic systems, which was contracted on with the Swedish specialized company "O.M.X" that had already undertaken similar projects in more than thirty Arab and international bourse.

Head of the Trustees Board of the Stock Exchange, Talib Al-Tabatabai, said that the transition from manual trading system to electronic trading is a quantum leap in the distinct performance of the "Iraq market for securities", and he expected that the next stage will witness the activation of investment activity as consistent with the desire and aspiration of more than one million citizens who are active in the shares' sector.

He added that the introduction of electronic circulation coincides with the decision of the "Securities Body"that allows non-Iraqis to circulate in the Iraqi Stock Exchange, starting on the first of next June, and according to the Investment Law No. 13 of 2006 which everyone looks forward to activate it, which helps to overcome all obstacles that prevent expansion of the Arab and foreign investment in Iraq. He pointed out that the circulation of non-Iraqis in equities and bonds in the Iraqi bourse is, "a step in the right direction to achieve a rise in stock prices, after the significant slump in their value last year".

He explained that increasing the number of circulation sessions from two in the week, to ten in the morning and afternoon, in addition to doubling the volume of circulation, will have a large return for the investment sector in Iraq. Al-Tabatabai expected that the outcome of this qualitative leap of shares in the bourse, will have a big economic value differs from the previous phases, as in other countries.

The American Company "IBM" for Computer under the supervision of the Swedish company "O.M.X", has trained Iraqi engineers and all staff of Iraqi stockbrokers in the Jordanian capital, Amman, on electronic trading and the central depository, in addition to the completion of the internal linkage with the offices of those intermediaries, and also equipped the special hall of electronic circulation in the bourse according to the latest global designs.

Iraq to push for Indian refineries during visit
Iraq to push for Indian refineries during visit
NDTV Profit - [15/05/2007]


Iraq will press Indian firms to set up refineries there during a four-day visit to India by Oil Minister Hussain al-Shahristani later this month, an Iraqi official said on Monday.

"We will invite India to establish refineries in Iraq ... the capacity of our refineries is very limited," said Muayad Hussain, Iraq's charge d'affaires in India.

Shahristani is due in India from 24-27 May.

Iraq has a refining capacity of 603,000 barrels per day. It produces 477,000 bpd of refined products and consumption stands at 514,000 bpd, according to the OPEC Web site.

During a visit to the Saudi capital Riyadh earlier this month, Oil Minister Murli Deora met Shahristani. The participation of Indian state explorer Oil and Natural Gas Corp. and other firms in Iraq's oil sector was raised.

The Iraqi minister invited Indian Oil Corp. and Engineers India Ltd. to consider entering the downstream sector.

Hussain said in New Delhi that the exploration of the Tuba oil field in southern Iraq could also feature in talks between the two countries.

ONGC, Reliance Industries Ltd. and Algeria's Sonatrach tried in 2000 to secure Tuba.

Iraq is expected to enact an oil law by May-end that would allow its various regions to negotiate oilfield contracts with foreign investors.

Baghdad desperately needs foreign investment to revive its shattered economy, which relies heavily on oil export revenues. The country straddles the world's third largest oil reserves.

Decades of war, sanctions, under-investment and now widespread violence and sabotage have left it critically short of fuel. It has to import nearly half of all its gasoline.

Iraq has eight refineries, none of which were damaged during the U.S.-led invasion in 2003. Oil officials say that Iraq's refineries are operating at only 50-75 percent of capacity, forcing Baghdad to import most of its fuel.

British troops have held secret talks with Sunni rebels: Iraq president

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15 May 2007 (AFP)
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British military officers in Iraq have been party to secret talks with Sunni insurgent leaders there, Iraq's president said in an interview published Tuesday.

Speaking to The Daily Telegraph while in London, Jalal Talabani added that Sunni rebels were shifting their perceptions to view Shiite-dominated Iran as more of a threat than foreign forces.

"There are resistance movements that are now meeting with the prime minister, with me, with British military officers and the ambassador for reconciliation talks," Talabani told the paper.

"The biggest step forward would be to have the full participation of all the main groups in Iraq ... We need national unity. We must convince the Sunni Arabs they are a real partner."

Talabani reiterated comments made at Cambridge University last week when he said coalition troops would have to stay in Iraq until the end of next year, at which point they would be able to leave.

He also said Sunni insurgents felt more threatened by Iran than by coalition troops.

"There is a big change in the mentality of the Sunni Arab," he said.

"They are now considering Iran is the danger and no longer considering America the danger."

Talabani also linked Iran's battles against internal dissent with attacks against British forces in southern Iraq.

"When there are some attacks (in Iran) they think it is British-backed activities, so they (the Iranians) do some limited things in Basra," he said.