Thread: Iraq/Dinar News Until 5/31/2007 7:15 PM CST..

PARIS, May 30, 2007 (Dow Jones Newswires)
Russian oil producer OAO Lukoil Holdings (LKOH.RS) said Wednesday it is optimistic about its chances of getting back into Iraq to develop the big West Qurna oil field, an executive said Wednesday.

The company lost control of the field, one of Iraq's biggest existing oil fields, in 2002 after it failed to develop West Qurna according to its original $3 billion contract signed in 1997. Saddam Hussein voided the contract in 2002.


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West Qurna Field
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Lukoil, Russia's second biggest oil producer by production, began talks in recent months with the Iraqi government on West Qurna.
"I think there is progress being made and we hope and expect to be back (at West Qurna)," Lukoil vice president Dzhevan Cheloyants told Dow Jones Newswires on the sidelines of an industry conference in Paris.

He declined to elaborate on the company's negotiations with Baghdad, but said that any deal with the Iraqi government would come only after Iraq's long-delayed hydrocarbons oil law becomes final. A draft oil law has missed several deadlines, including the most recent for the end of May. Officials say a parliamentary vote to give final approval to the draft has been pushed back by another month or two.

Cheloyants added that any work in Iraq would take many months to resume because of the lack of security and daily threats and attacks against civilians and contractors.

West Qurna is one of the top production priorities of the Iraqi government because of its 4 billion barrels in proven oil reserves and because much is known about the field's geology and how it should be developed.

Copyright (c) 2007 Dow Jones & Company, Inc.

Even Iraqis are struggling to afford gas
A lot of their pay now goes for fuel
May 30, 2007

BY JENAN HUSSEIN and HUSSEIN KADHIM

MCCLATCHY NEWSPAPERS

BAGHDAD, Iraq -- Abu Mohammed is a slight man without prospects of beefing up. His 8-year-old son is barely tall enough to lean his skinny frame against the rear of their old car.

But from dawn to dusk two or three times a week, they push the rusty vehicle up an incline, one car length at a time, to buy gasoline they can scarcely afford.

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Their shove to the front of the line repeats itself throughout the week so Mohammed can drive a cab.

If he makes $20 a day ferrying fellow Iraqis around Baghdad, $18 of that -- 23,000 Iraqi dinars -- will go for gas.

"If God provides," he said, "I might have some petrol left for my generator."

In a nation with some of the world's greatest oil reserves, people have little sympathy for Americans cringing at gasoline that costs $3 a gallon or more. They're too occupied trying to find their own gasoline and too worried about whether they can afford it.

At a licensed station, a gallon of gasoline -- probably watered down -- goes for $1.22, but that's 10 times what it cost before the war, and Iraqis make far less money than Americans do. The price will certainly climb as summer sets in.

In neighboring Iran, where the government subsidizes gas prices, the cost of a gallon of gas went up last week from 30 cents to 38 cents, still cheaper than drinking water.

For Iraqis unwilling or unable to endure the all-day lines in blistering heat, the black market offers a quicker fill-up -- for three times the price.

The result overwhelms a bus system ferrying cash-strapped commuters and prompts the assessment of each trip around the bomb-and-bullet-riddled city, not just in terms of safety but also affordability.

A schoolteacher, for instance, might fork out half her $130 monthly salary at the fuel pump. That gets her just enough gas for short trips around town and some fuel for the family generator, which provides a few extra hours of electricity a night.

Plenty of oil, but some is missing

The situation is especially maddening to Iraqis because they know they live in an oil-rich country.

Oil and Gas Journal estimates Iraq's oil reserves at about 115 billion barrels, third in the world behind Saudi Arabia and Canada. Because much of the country remains unexplored for its petroleum potential, some analysts said another 100 billion barrels might be pumped from the Iraqi landscape eventually.

Production peaked in 1979, at 3.7 million barrels a day. That dropped dramatically over the next several decades as Iraq became a pariah on the world stage: the Iran-Iraq war, Saddam Hussein's invasion of Kuwait, the Persian Gulf War, the subsequent United Nations sanctions and the U.S.-led invasion in 2003. Today, Iraq's oil output hovers at around 2 million barrels a day.

A Government Accountability Office report recently estimated that 100,000 to 300,000 barrels a day have been unaccounted for over the last four years, translating to a daily loss of as much as $15 million. The losses were blamed on corruption and smuggling.

Iraqis make do

To save fuel and ease traffic jams, which make easy targets for bombings, the government has imposed odd-even regulations on the days a car can be on the street, depending on its license plate number.

For a cabdriver such as Mohammed, that can mean profits wiped out in an instant if a cop spots him working on the wrong day.

When Mazin Mehdi cruises the boulevards looking for fares, particularly in the morning, he said, he's doing something to keep people safer.

"The streets are really empty then," said the 33-year-old father of two. "That can make people who are out easy targets" for kidnappers.

He keeps an eye trained on the gas stations, too, hoping to find a spot where the wait might be only five hours.

Talib Hassan owns a BMW and a Buick, but he drives them only to the gas station, to fetch fuel for his generators. Because gas cans are prohibited -- to head off chaos caused by people filling their cars, then multiple cans -- he has to siphon the fuel from his cars once he returns home, where he has four children.

"They all need electricity for comfort and a quiet atmosphere to study," said the 52-year-old engineer.

"Their final examinations are coming. And with the hot weather and the shortage of power, we have no choice but to use the generators all the time."

The Associated Press contributed to this report.

2007 press releases
Fact Sheet: U.S. Assistance to the Electricity Sector
May 31, 2007

Background:

As of March 2003, Iraq had about 4,300 Mega-Watts (MW) of power generation capacity and produced on average 2,500 MW/hour. Baghdad received 18-24 hours of power a day while the rest of Iraq received much less.

U.S. Government funded reconstruction has added nearly 2,500 MW through generation projects. However, the impact of these projects has been reduced by operations and maintenance problems, insufficient fuel, sabotage of pipelines, and continued increase in demand due to a growing economy, a surge in consumer purchases of appliances and consumer electronics, and subsidized electricity prizes.

Current Situation:

U.S. electricity sector projects contributed 2,000 MW in new generation capacity, and with rehabilitation and repair, a total of 8,442 MW of feasible capacity is on the system. Insurgent attacks, maintenance problems, and fuel shortages are keeping an estimated 4,000 MW offline. Even with this loss, power supply is above pre-invasion levels.

Actual peak production capacity averaged 3,877 MW during the first quarter of the 2007 calendar year. By mid-summer 2007, 500 MW are expected to be added to the electricity grid along with over 1,000 MW of planned maintenance.

The Ministry of Electricity estimates that it has not been able to use 1,500 MW of capacity in the first quarter of 2007 because adequate fuel was unavailable.

Baghdad received eight hours of power as of May 2007 while consuming an average of 19.4% of Iraq’s electricity production. Baghdad’s power allocation from the National Dispatch Center was 10% less than planned. Political issues also prevented power transfer to Baghdad from large plants in northern, southern and western Iraq.

Nationwide, 12 hours of power were available on average which is greater than before the U.S.-led invasion.
Project Highlights:

The Qudas Expansion Project will add up to 180 MW of new power generation to the Baghdad area.

The Al-Doura Power Plant will add up to 280 MW to the grid, primarily serving more than 1.5 million people in the Baghdad area.

The Mussayib Gas Turbine Power Plant will add up to 450 MW to the grid serving the Baghdad area. The plant will operate on diesel produced by a 40,000 barrel per day topping plant.

Construction of two 11kV electrical lines and installation of a 400kV transformer in Fathwat Arab, Diyala Province provides direct and more reliable power for 5,000 domestic, commercial, and industrial consumers.
National Targets with Iraq Reconstruction Relief Fund (IRRF) Assistance:

All USG agencies’ projects will add or restore a total of 2,555 MW at the end of the electricity sector reconstruction program.

Working with Iraqi authorities, the goal is to provide 10-12 hours of power nationwide.

Iraq confirms his efforts to release kidnapped Britons

(صوت العراق) - 31-05-2007

(Voice of Iraq) - 31-05-2007

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BAGHDAD (Reuters) - Iraqi government said on Thursday that it was cooperating closely with British authorities to secure the release of five Britons kidnapped from a government building in Baghdad raids were the responsibility of the Shiite militia.

The British embassy in Baghdad warning to British nationals on travel in Iraq, including the British security companies working in the "other abduction may have been planned."

The Iraqi government said in a statement that "the Iraqi government has taken a number of urgent procedures to verify the facts of the incident and locate the kidnappers. The government was in contact with the British authorities on the developments of the situation. "

Formed a special military unit to assist in the search for the five Britons who are expert computers and four of his bodyguards kidnapped dozens of armed men wearing police uniforms on Tuesday from the building of the Ministry of Finance.

The statement added that the government condemned "this criminal act strongly and continue to do everything in their power to secure the immediate and safe release of the abducted Britons."

A senior official in the Iraqi Ministry of Finance was being questioned guards raid on the building, which was fired during a single bullet. Investigators will try to learn how the presence of the British knew the gunmen in the building.

He said one of the guards that he was detained for a short period of questioning and then released. He said that other colleagues are still detained.

The guard, who did not wish to reveal his identity, told Reuters that the commander of the armed men was wearing a police uniform pilot spoke fluent English, a language with the hostages. He added that the guard did not identify the models weapons armed but not Kalashnikov rifles-known arm of the Iraqi security forces.

Iraqi Foreign Minister Hoshyar Zebari yesterday, Wednesday, said that Bchtbah that the Mahdi Army militia loyal to Shiite cleric opposed to the United States Muqtada al-Sadr stands probably behind the kidnapping because the ministry in an area near Sadr City stronghold of the Mahdi Army militia.

It is known that the Interior Ministry troops heavily infiltrated by Shiite militias and were often subjected to accusations of carrying out the kidnapping and murder.Gunmen kidnapped wearing police uniforms dozens of people from the building of Higher Education last year.

A government official that the kidnapping might be retaliation for the killing of prominent leader of the militia at the hands of Iraqi special forces backed by British troops in Basra in southern Iraq.

He did not make any statement on Sadr kidnapping but his aides say that the process beyond the capabilities of the Mahdi Army.

The American and Iraqi forces carried out raids in Sadr City in Baghdad in search of Britons using armored vehicles to break down the walls of houses. The methods rude to unfamiliar to the forces working to quickly find the British before being transferred perhaps outside the capital.

Police said that two people were a father and son were killed in an air attack on their home in Sadr City on Wednesday evening. It was unclear whether the attack to search for the Britons. The American army said that verify the validity of the report.

The army said in a separate statement that it had raided the Sadr City on Thursday and arrested two people suspected of being members of a cell in the underground "terrorist" responsible for the smuggling of bombs planted on the sides of roads from Iran to Iraq.

Translated version of http://www.sotaliraq.com/

Maliki reach Irbil in official visit

Arbil : arrived this afternoon to the capital of the province of Kurdstan Iraqi Prime Minister Nuri al-Maliki on an official visit lasting several days and was in Astagabelh Mr. Massoud Barzani, President of Kurdistan and Mr. Omar Fattah, Vice President of the government of the territory Kurdstan and a number of ministers, government officials and partisans.

Dr. Fouad Hussein, head of the Office of the Presidency of the Territory in a press statement said that "the visit of al-Maliki comes to consult on many things including the Iraqi constitution and the political situation and the relationship of the territorial government central government."

He added that Hussein "Sitabbahth delegation on the issue of Kirkuk during the period of residence, which is expected to last several days."

KRG, Kurdistan Regional Government

I got 2 conflicting reports. 1 above and this. 1 says prevents accession as of yet to WTO, and this says success....Hmmmm..... Not sure. It seems to me that someone there is 1 beer short of a 6 pack... I wish someone could get it straight or maybe that I'm reading it incorrectly.

Please advise.

***************************

Iraq's negotiations with WTO a success says Trade Minister


Baghdad - Voices of Iraq

Thursday , 31 /05 /2007 Time 4:07:59 </B>

Baghdad, May 29, (VOI)- Iraqi Trade Minister Abdul Falah Hassan al-Sudani described on Tuesday as a success the Iraqi delegation's negotiations with the World Trade Organization (WTO) that could end with Iraq’s joining to the international organization.

“The minister met in Geneva with the WTO experts and explained procedures and laws passed by Iraqi authorities to organize the economic and commercial process in the country,” the minister said in a statement released by the ministry and received by the independent news agency Voices of Iraq (VOI).
“The negotiations ended with complete understanding by the WTO team to the recent economic procedures taken by the government to organize the economic and commercial work which could lead Iraq to be a member of the international organization,” the minister explained.
“The Iraqi delegation answered every question and inquiry regarding investment issues in Iraq, oil projects, taxes and explained the procedures taken nowadays to facilitate the trade exchange with all countries,” al-Sudani noted.
“The delegation also explained the mechanism to register companies in Iraq. A total of 200,000 companies have been registered since 2003 till last year,” he also said, noting that this shows great flexibility in registering companies.
“There are other procedures that could be taken regarding protecting copyright or trademarks,” the trade minister highlighted.
“The government has a draft law for copyright and patent on an invention but it is not suit the WTO regulations nowadays,” he stated.

SH

Aswat Aliraq

Originally Posted by Hkp

I got 2 conflicting reports. 1 above and this. 1 says prevents accession as of yet to WTO, and this says success....Hmmmm..... Not sure. It seems to me that someone there is 1 beer short of a 6 pack... I wish someone could get it straight or maybe that I'm reading it incorrectly.

Please advise.

***************************

Iraq's negotiations with WTO a success says Trade Minister


Baghdad - Voices of Iraq

Thursday , 31 /05 /2007 Time 4:07:59 </B>

Baghdad, May 29, (VOI)- Iraqi Trade Minister Abdul Falah Hassan al-Sudani described on Tuesday as a success the Iraqi delegation's negotiations with the World Trade Organization (WTO) that could end with Iraq’s joining to the international organization.

“The minister met in Geneva with the WTO experts and explained procedures and laws passed by Iraqi authorities to organize the economic and commercial process in the country,” the minister said in a statement released by the ministry and received by the independent news agency Voices of Iraq (VOI).
“The negotiations ended with complete understanding by the WTO team to the recent economic procedures taken by the government to organize the economic and commercial work which could lead Iraq to be a member of the international organization,” the minister explained.
“The Iraqi delegation answered every question and inquiry regarding investment issues in Iraq, oil projects, taxes and explained the procedures taken nowadays to facilitate the trade exchange with all countries,” al-Sudani noted.
“The delegation also explained the mechanism to register companies in Iraq. A total of 200,000 companies have been registered since 2003 till last year,” he also said, noting that this shows great flexibility in registering companies.
“There are other procedures that could be taken regarding protecting copyright or trademarks,” the trade minister highlighted.
“The government has a draft law for copyright and patent on an invention but it is not suit the WTO regulations nowadays,” he stated.

SH

Aswat Aliraq

It's more like 3 beers short of a 6 pack....you're not reading it wrong. There has been conflicting reports concerning the WTO for a while now.

Originally Posted by Hkp

I got 2 conflicting reports. 1 above and this. 1 says prevents accession as of yet to WTO, and this says success....Hmmmm..... Not sure. It seems to me that someone there is 1 beer short of a 6 pack... I wish someone could get it straight or maybe that I'm reading it incorrectly.

Please advise.

***************************

Iraq's negotiations with WTO a success says Trade Minister


Baghdad - Voices of Iraq

Thursday , 31 /05 /2007 Time 4:07:59 </B>

Baghdad, May 29, (VOI)- Iraqi Trade Minister Abdul Falah Hassan al-Sudani described on Tuesday as a success the Iraqi delegation's negotiations with the World Trade Organization (WTO) that could end with Iraq’s joining to the international organization.

“The minister met in Geneva with the WTO experts and explained procedures and laws passed by Iraqi authorities to organize the economic and commercial process in the country,” the minister said in a statement released by the ministry and received by the independent news agency Voices of Iraq (VOI).
“The negotiations ended with complete understanding by the WTO team to the recent economic procedures taken by the government to organize the economic and commercial work which could lead Iraq to be a member of the international organization,” the minister explained.
“The Iraqi delegation answered every question and inquiry regarding investment issues in Iraq, oil projects, taxes and explained the procedures taken nowadays to facilitate the trade exchange with all countries,” al-Sudani noted.
“The delegation also explained the mechanism to register companies in Iraq. A total of 200,000 companies have been registered since 2003 till last year,” he also said, noting that this shows great flexibility in registering companies.
“There are other procedures that could be taken regarding protecting copyright or trademarks,” the trade minister highlighted.
“The government has a draft law for copyright and patent on an invention but it is not suit the WTO regulations nowadays,” he stated.

SH

Aswat Aliraq

The one that states there's a hold up is older

still waiting for RV

Originally Posted by wb165600

still waiting for RV

You and several hundred thousand other people, myself included.