Thread: Iraq/Dinar News until 6/17/07 8:30 PM CST

during a meeting with Australian Ambassador in Baghdad

AL-Attiyah reviews highlighted developments on the Iraqi arena

Baghdad morning
Reviewed Sheikh Khaled al-Attiyah, first deputy chairman of the House of the most significant developments at the level of constitutional amendments and bills basic contribute to the building of the Iraqi state.

This came during his meeting with the Australian ambassador Mr. Mark Anzbraun in his office last Wednesday and the two sides addressed the latest developments on the Iraqi arena and draft laws, especially the oil and uprooting the Baath and the provinces that have not got organized and became easy road to approval and temple after completion of the Constitution Drafting Committee lot of work.
Al-Attiyah and that there meaningful dialogues between the coalition and consensus on the coalition and the coalition of Kurdistan and the Iraqi List on the other hand to resolve all obstacles that stand in these laws and noted that there is a strong desire among members of the House to make progress in the political process through completion of the laws cited.

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

bilateral meetings between the sternum and mainstream Islamic party

Adnan Al-Dulaimi : the current political process and support the government

Baghdad-Sabah.

Dr. Adnan Al Dulaimi, head of the Iraqi Accord Front that the ongoing consultations between the political blocs acting to support the political process and the government, denied the formation of certain political forces Front (of the coup) to the government of national unity.

Dulaimi said in a press statement made yesterday, now that the ongoing consultations between the parliamentary blocs, acting to support the political process and finding solutions to errors that occurred in the past, pointing out that his meeting with the Vice President Dr Adel Abdul Mahdi, the basic principles in the work of the current government, that was agreed upon during the consultations that took place during the process of composition. Dulaimi added : consulted with the Vice-President on how to correct the course of the political process, the government and find practical solutions to that through reviewing the government's program. Meanwhile, House of Representatives member Dr. Salim Abdullah Jabouri that Iraqi Accord Front and members of the political bureau of the Islamic Party met with their counterparts from the sternum trend at the highest levels. He Jubari said this meeting was to complement the important political meetings between the two blocs parliamentary precedent and the political bureau of the trend sternum and the political bureau of the Islamic Party. He pointed out that the target of this meeting and other events come to reach a correct vision of the political process and the concomitant errors, emphasizing that they collected for the ongoing political process, but the tracks correct misconceptions. The spokesman stressed that the compatibility of new formations wish to undermine the current government, but by how strongly ADDRESS.

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

to deny the existence of government contacts with the leaderships in the Baath dissolved

"

Sunaid : Baghdad in the coming days will witness stable "relatively"
Baghdad-up morning
MP from the Coalition Hassan Sunaid Baghdad in the coming days will witness a relatively stable because of some armed groups to leave the Commission, denied what was published by the media recently about a meeting Prime Minister Nuri al-Maliki Bqiadein

The different wings of the Baath party dissolved, during his stay in the Kurdistan region after the handover of security functions in it. Sunaid stressed in a press statement made yesterday, the existence of conversations with some of the armed factions in Baghdad, pointing out that those factions is not tied to join dissolved.
The MP said the coalition : that the interlocutors now looking into the cause of these factions, the political process, expressing his belief that experiencing the capital Baghdad stable security in the coming period described Sunaid "me" as a result of the suspension of a number of its armed factions.

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

the new retirement law awaiting approval by Congress

Baghdad-Ta'i A'ala
It is hoped that the House of Representatives approved the new retirement law in its near future. A source in the Finance Ministry told "Assabah" : that the House discussed the law through two readings during previous meetings and is awaiting a third reading amendments proposed by the House of Representatives on some of its paragraphs

And preparing the final draft of the new law under the amendments.
He added that the Council demanded hosting Finance Minister Baqer Jabr Al-Zubaydi during the third reading of a certain clarifications and feasibility of the law.
The source indicated that the law holds the consent of the majority in the House being Sincef large segment of society need to support and contribute to the amendment of the monthly income for them and improve their livelihoods under difficult conditions and high prices.
It appealed to the retirees in turn need to accelerate the discussion draft law, a third reading at its next due to the threat of the utmost importance to them and they desperately need the government to support and reward their efforts in the past to serve their community and country.

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

Will the division of wealth to partition Iraq?

Adnan Al-Salihi

At a time when the situation of the Iraqi people from poverty, unemployment and the deterioration of services of all kinds, tend attention to the people's representatives in Parliament and the government to adopt appropriate resolutions that would take

However, society and the advancement of the situation deteriorate to progress and prosperity. Since all the conditions experienced by Iraq, which witnessed the Iraqi arena is an exceptional situation and unnatural to be careful reflection and decision-making particularly crucial and shed light and find out the truth and the dimensions of those decisions.

As long as oil wealth in Iraq is its main asset, which hopes the Iraqi citizen depend on the economy, we must not alienate those of wealth and study everything that would respect the thorough, careful, and so we had to study on this project with some precision and out of concern for the public good.

It is through reading the draft law approved by the current Iraqi government, which is hoped to introduce to the House for a vote, noted the following : -

First : in legal terms :

1-follower of this law considers that the draft law had been drafted in English, and noted that there was a difference in the translation into Arabic, which begs the question, any texts adopted in the event of a disagreement between investing companies and oil and gas between the federal oil and gas, or a difference between political elites? It is the body that will be invoked?

2-what is stated in paragraph (17) of Article IV in the definition of "person" Iraqi is the definition was heavily tinged with ambiguity has exploited persons holding more than one nationality and therefore this person has used foreign nationality in the event of any forms with the government of the province or the federal government, to get rid of the legal consequences. ( "person" Iraqi-any citizen of Iraqi nationality, or any company or institution legal personality list and registered according to Iraqi legislation with a key position in Iraq, with more than 50% of the shares of capital owned by Iraqi citizens or by the institutions or public companies or special Iraqi.

3-what is stated in paragraph (23) of the previous article "operator", it could create a problem resulting from the conversion of the original contract to a series of contracts with companies that do not have high efficiency required as happened in Iraq reconstruction The legal problems that Giffen. ( "operator" body designated by the competent authority in consultation with the owner of the right of exploration and production for oil operations on behalf of the latter.

4-what is stated in paragraph (24) of the same article, in the "definition of maintaining productive," We believe that it is unnecessary to determine the quantity of production that could lead to legal and political problems resulting from a lack of coverage of some provinces this definition capitalizing determine the quantity of production of oil. An example of this province of Dahuk and Sulaymaniyah. (Governorates less production of 150 thousand barrels per day). "Preservation productive" - any of the provinces of the Republic of Iraq, in which there is production of oil and gas in a sustainable and commercial rates not less than (150) thousand barrels / day.

5-what is stated in paragraph (29) of the same article, in the definition of "carrier" This definition makes the government bears responsibility in the transfer of a product from oil alone without taking any responsibility on the companies. ( "carrier" - designated by the Council of Ministers to take crude oil or gas from the owner of the right of exploration and production at the point of conversion and delivery of crude oil or natural gas for export the owner of the right exploration and production at the point of delivery.

6-Article V, paragraph (eleven) there is a clear flaw in the wording of this paragraph and to receipt of the word "members present" which proves that it is possible decision presence of three members, two of them voted in favor of the resolution, as well as Article X paragraph II. (Federal Council of oil and gas to develop an "internal" to organize work to take its two-thirds majority of members present in the development of the petroleum policies, plans, models and instructions to negotiate contracts and contracting.

7-Article X, Th. Thirdly, in the "approval of the contract," So it is the effect unless rejected in the vote (60) days and this would send a lot of contracts pretext months to the end of a decision rejected by the Federal Council of oil and gas, and this method into contracts to be inoperative in the Iraqi laws. (with the ministry or the Iraqi National Oil Company, or regional body to reluctance on the initial contract and the reasons for it during the sixty (60) days of receipt of the initial contract by the Federal Council of oil and gas, The initial contract will be considered approved in the absence of a decision from the Council after the period mentioned. In the case could not be a meeting of the Federal oil and gas during the sixty (60) days from receipt of the first contract, the Council must take a decision on the contract during the last (45) and forty five days "following the use of various means of communication available, and the contract would take effect" in the absence of a decision after the expiry of the period mentioned).

8-as stated in Article (39), on "conflict resolution" is supposed to be Iraqi law is the first reference must be resolved such disputes through the Iraqi justice between the contracting parties may not resort to the courts or arbitration committees outside Iraq. Therefore, we find that there is an imbalance in paragraph "w" on (1) of the above article, that the Iraqi justice system has jurisdiction on all public and private persons in addition to the adoption of the international conventions in this regard requires an endorsement of the State of Iraq to those conventions.

Being an arbitration between the Republic of Iraq and foreign investors as follows :

1-systems arbitration proceedings to the International Chamber of Commerce in Paris, Geneva and Cairo for the settlement of disputes between States and Nationals of Other States, according to the settlement of disputes between States and Nationals of Other States, on the basis of Iraqi law).

Second : economic terms :

1-focused law in most aspects of the production without the need of refinement and interior of oil derivatives.

2-law did not take into account periods of time for the processing of oil tankers and delays that may result from the technical and political problems, which could lead to the cessation of production, which is expected to be obtained after the direct action, This causes the imposition of fines on the oil sector Takhireh paid to tankers anchored in the port of Basra, which amounted to one hundred million dollars as a result of stopping the tanker in some lines of production.

3-stated in paragraph (d) of article 14, where the State is obliged to compensate the investor for any loss, without specifying the type of loss, It must be a new formulation of this paragraph, taking into account the likelihood of the collapse of the oil market any circumstance emergency. (compensate affected parties for any loss or damage resulting from oil operations, as required by law).

4-paragraph (b) of Article 32 seemingly not subject to the investment law which provides for Iraqi failure compensate any of the period of time after the expiration of investment and the above paragraph violation of this law. (All tasked to restore the site and the Wolf accompanying become due upon conversion with respect to any business and facilities are paid by the Iraqi National Oil Company, the owners of the other production licenses under the plan termination commissioning).

5-ratios set forth in paragraph (a) of Article (34) on the right to property "rent" rates are low, This should provide for higher percentages of the above paragraph (paid the Iraqi National Oil Company and the holders of exploration and production licenses others royalty on oil produced from areas of development and production by "12.5%" of total production is calculated from the entrance lip link to the main entrance).

6-paragraph (a) of Article (35) of the "record-keeping" with a major financial forms in which the state in a weak position compared to producing companies as the conversion net profits belonging to the investing companies out of Iraq is not in the direct interest of the Iraqi economy, where they are supposed to benefit the preservation of productive (in particular) of the profits in other projects contribute to the development (owners have the right to convert licenses net profits derived from the operations of oil out of Iraq after the payment of taxes due on them.

7-nothing in this remark is taken from a study of economists (1) Should the percentages in this equation will be lost material about Iraq ($ 18 million plus million barrels of crude oil per day) and the equation is :

(What is now producer of oil from the Iraqi oil production and expected after investment, the country will be the loss of approximately 32 billion, a quarter of a billion annually if the law remains as it stands, as follows :

Iraq now produces about two million barrels per day.
Average price per barrel of 55 dollars.
Financial benefits per day of Iraqi oil 110 million dollars (daily).
After application of the law of oil and gas is expected to increase production of Iraq in the period close to three million barrels (per day).
Assume that the average price per barrel is still 55 dollars.
Financial benefits in the day, 165 million dollars will be divided as follows :
royalty production, as the law provides the equivalent of 20.5 million dollars (twenty and a half million dollars) of this amount going to the Iraqi government.
Cost of production of around 3 per barrel equivalent of nine million dollars going this amount production companies.
The amount remaining in the limits of 135.5 million dollars (one hundred and thirty-five and a half million dollars).
This amount is 2 between the Iraqi government and the company involved in production 67.750 million (Sixty-seven and three quarters million), the share of each party.
The macro-financial benefits to the Iraqi government is collecting royalties production with half the profits to get the 88.250 million (Eighty-eight and a quarter million).

Conclusion

When national Bemlakath Iraq produces 2 million barrels a financial return 110 million dollars by imposing average price of 55 dollars a barrel.

When Iraq produces three million barrels per day by helping companies, as set forth in the draft law of oil and gas declining financial benefits to the Iraqi government to about 88 million dollars per day.

Third : the political point :

1-through reading history note that the most important decisions taken in serious and critical times and the extraordinary life of peoples, which would negatively affect their lives if taken in a hurry, On this basis we believe to be a very high accuracy in decision-making in this period they would be binding for future periods may require a lot of difficulties to avoid mistakes.

2-The political positions of the different political blocs in the parliament, which shows similarities complete loss of confidence between the components may make this law as it stood at the current time is a time bomb which may explode at any moment, the community where the first oil target. where could turn any problem between the two rival political camps in the door of investment to the battle raging on the geographical oil wells.

3-believe, as we understand the reality that making historical long-term should not be used in exceptional circumstances and the urgency of time and circumstance and the presence of the occupation, which makes the occupier fingerprints clear in passing the law.

4-believe that the solid Earth, which must be established by law is the credibility and good faith, with most parties, and mutual confidence and almost lost between the political blocs.

5-There are some paragraphs including law, which are almost unanimously persecution of many of the communities where it is one of the paragraphs in the law to the formation of the Federal Council of the basic components of the Iraqi people, and the clear marginalization of minorities to the rest of the people, anchors of sectarian clear.

6-speed in decision-making and pass this way without definition by showing their clear imprint to the pressure the IMF and the generals oil in this area.

7-There are many ambiguities on the issue of economic advisers, and what identity! This facilitates the entry of many lovers positions and the position and therefore requires exploitation and leads to involve political and professional work.

8-lack of understanding of district councils to the administrative and legal powers, may create traffic intersection in the center to work with the government and perhaps into conflict in some provinces controlled by some parties control almost to the emergence of hot spots threatening to erupt at any moment.

9-may be with the state or the government is now addressing the idea of trying out their control in the above-quoted in the use of military force, and the solution is here in the worst way (militarily), and we have thus wasted lives and money before the battle could be avoided drafting laws binding possesses the duties and rights guarantees. We diagnose those observations on oil and gas law to be voted on in the National Assembly, we welcome any decision that the purpose of the supreme interest of the country, and our goal of diagnosing those gaps only for the purpose of processing and upgrading so as not to leave the area to forsake human Iraqi citizen.

As if the law was applied correctly and in good faith, to work hard, we believe in the near future, significant achievements at the economic level, which will cast a shadow on other levels.

1-d. Riyad Gharib (reading the eyes of Iraqi oil).

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

According to this article the pension law is still not passed or is this some other law???????

Originally Posted by Hkp

the new retirement law awaiting approval by Congress

Baghdad-Ta'i A'ala
It is hoped that the House of Representatives approved the new retirement law in its near future. A source in the Finance Ministry told "Assabah" : that the House discussed the law through two readings during previous meetings and is awaiting a third reading amendments proposed by the House of Representatives on some of its paragraphs


And preparing the final draft of the new law under the amendments.
He added that the Council demanded hosting Finance Minister Baqer Jabr Al-Zubaydi during the third reading of a certain clarifications and feasibility of the law.
The source indicated that the law holds the consent of the majority in the House being Sincef large segment of society need to support and contribute to the amendment of the monthly income for them and improve their livelihoods under difficult conditions and high prices.
It appealed to the retirees in turn need to accelerate the discussion draft law, a third reading at its next due to the threat of the utmost importance to them and they desperately need the government to support and reward their efforts in the past to serve their community and country.

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

Originally Posted by stargate-sg13

According to this article the pension law is still not passed or is this some other law???????

My understanding was that it had been approved but not implemented.

Impose financial penalties on agents squares and hikers for the sale of oil and gas in Najaf for violating regulations and instructions

Luna / 6-9 / Najaf / Directorate imposed distribution of oil products in the governorate of Najaf, a large number of financial penalties on the agents yards and hikers for the sale of oil and gas for violating regulations and instructions.
A source at the Directorate empowered by the "Luna" had been fined and squares and roving agents for the sale of oil and gas for violating regulations and instructions prior to the sale and distribution outside the delay to renew the Agency and the lack of commitment Baltasaireh official has been reported (3125000) Iraqi dinars.

In terms of processing petroleum products has been processing generators neighborhoods by the quantity of gas oil (926584 liters) and processing mills by the quantity of gas oil (80000) in addition to the processing of the private sector increased by the quantity of gas oil (326200 liters), processing and bakery ovens and steam baths quantity (217600 liters).
The source confirmed that "cadres of employees of Oil Products Distribution Branch Najaf operate in a serious and sustained follow-up and monitoring of the water in the fuel tanks through its active Division inspection and quality control of all government and private stations and squares, oil and gas reservoirs and knowledge holidays in the pumps and also Tekeylha / / completed / u p / p p / local.

Translated version of http://www.wna-news.com/inanews/news.php?item.4330.5

Foreign Minister's call for debate in the House

Luna / 6-9 / BAGHDAD / functions of the House of Representatives began its work in its six session of the Legislative Chapter III, which contains a general call to Foreign Minister Hoshyar Zebari, the vote on the President answer on the integrity interpellation submitted at the previous meeting. In addition to voting on the draft Code of Criminal Procedure and the military draft law amending the Iraqi Supreme Criminal Court No. 10 of 2005 and a bill owning residential plots of the judges and the proposed abolition of the Revolutionary Command Council dissolved No. 690 of the 1981 Act and the proposed abolition of Revolution Command Council decision dissolved No. 1019 of 1979 and proposed the bill to abolish the Revolution Command Council resolution No. 1283, disbanded in 1980 and the proposed abolition of the Revolutionary Command Council resolution No. 1253, disbanded in 1985 and the proposed abolition of the Revolution Command Council Decision No. 199 of the dissolved in 2001.
Also scheduled to be at today's meeting the second reading of the draft Law on the Ministry of Municipalities and Public Works and a bill to join the International Agency for Investment Guarantee and Bill accession of the Republic of Iraq to the Islamic Corporation for Insurance of Investment and Export Credit / / completed / u p / e h / Chamber of Deputies.

Translated version of http://www.wna-news.com/inanews/news.php?item.4330.5

STOCK MARKET PAGE KIND OF UP AND RUNNING...look at the home page screen for the electronics in the background...

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Only Overview, home page and announcement screens currently active 2PM PST.

STILL BUGS...BUT, in the past twenty minutes they have changed the home page pictures (reduced number of)