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Dr. Ahmed Chalabi will meet with President Mr. Jalal

(Voice of Iraq) - 14-06-2007

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Statement / Dr. Ahmed Chalabi will meet with President Jalal Talabani

He met with Dr. Ahmed Abdul Hadi Chalabi, head of the Iraqi National Congress and the Chairman of the popular mobilization in support of a plan to impose law with President Jalal Talabani on Wednesday, 06/13/2007, During the meeting, which was at the residence of President Talabani discuss developments in the security situation in the country, after repeated sinful attack on the goat Imams them military operations in Samarra. A statement issued by the press office of the presidency that (during the meeting to discuss the security situation in the country and ways of improving access to the stabilization of the country).

During the meeting, both sides confirmed the need to do good and to intensify efforts to thwart terrorist plots of Tkeverien and Saddamien designed to inflame sectarian sedition among the Iraqis in order to thwart the democratic political process and the abortion of the gains achieved supreme national efforts of the Iraqi people and the homeland. According to the statement of the Presidency of the Republic, it (the plan had been discussed imposition of the law, and ways to revitalize and activate the aim of eliminating terrorist elements in Iraq. It was also emphasized the need to close ranks in order to address each of the obstacles and tries to sabotage the political process in the country). This previously Ahmed Chalabi met last Sunday 10/06/2007 Deputy Prime Minister for Security Affairs Dr. peace Zubai and discussed with him the current situation and ways to the success of the security plan.

Iraqi National Congress

14/06/2007

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

Iraq oil hobbled by ineptitude, corruption
Published: June 14, 2007 at 1:43 PM
E-mail Story | Print Preview | License WASHINGTON, June 14 (UPI) -- Getting Iraq's economy, and its oil industry, back on track is critical to that country's stability and day-to-day life. A new report by the Pentagon suggests there's a long way to go.
The oil industry is not just hobbled by sabotage on pipelines and a crumbling infrastructure. The government is failing to make the capital investments it needs to get the oil fields and refineries healthy after more than a decade of neglect.
"Recently available data indicate that the Iraqi government executed 67 percent of its total budget in 2006. Although it effectively paid salaries, wages and pensions, the government executed only 22 percent of its capital investment budget and only 3 percent of its oil investment budget," states the Pentagon's latest quarterly report to Congress, "Measuring Stability and Security in Iraq."
The United States has spent $1.6 billion on oil sector reconstruction over the last four years but it is not enough to "offset the (government of Iraq's) failure to execute several billion dollars of its own funds in oil sector capital investments. In 2006 for example, the ministry of oil executed only $90 million of its $3.5 billion capital budget."
The report asserts that because the oil ministry does not have "market pressures to stay in business" it lacks an incentive to invest its full capital budget.
"Lack of legislation governing the hydrocarbon sector, non-industry standard procurement policies, lack of skilled technocrats at (the oil ministry) and corruption also continue (to contribute) to under-investment," the report states.
Crime and sabotage, however, play a major role in the oil sector continued stagnation. The northern oil fields are especially unproductive
"Although prewar oil production in northern Iraq accounted for about one quarter of Iraq's total capacity, northern oil exports totaled only $1 billion in 2006 -- compared with $30 billion in the south, due to sabotage against northern pipelines," states the report.
As much as 70 percent of the fuel refined at the Bayji plant in northern Iraq, amounting to $2 billion a year, has been stolen for sale on the black market.



United Press International - Security & Terrorism - Briefing

Dubai to host Iraq Petroleum 2007 conference

MENAFN - 14/06/2007
(MENAFN) The Iraqi Minister of Oil stated that the Iraq Petroleum 2007 conference is to be held between the 8 and 10 of September this year at the Hyatt Regency Hotel in Dubai.

He went on to say that the key purpose of the conference is to set up mutual discussions between investors, security companies and government to discover ways to increase cooperation and to promote opportunities and development between the parties.

The assembly is to be the initial major international event on Iraq Oil after the announcement of the new hydrocarbon law and that subjects that will be addressed at the conference include, a new method of development for the country, a detailed explanation of Iraq's hydrocarbon law, the new structure and future financing of Iraq's oil industry.


MENAFN - Middle East North Africa . Financial Network News: Dubai to host Iraq Petroleum 2007 conference

Iraq may have to raise its purchasing prices of wheat

MENAFN - 14/06/2007
(MENAFN) Iraq's State Grain Board is currently carrying out negotiations for the purchase of a minimum of fifty thousand tons of milling wheat and has received prices of approximately $225 a ton, Khaleej Times reported.

However, he went on to add, the board is looking for prices closer to $205 per ton and is planning to buy the wheat by the end of July 2007, though due to the rise in the prices of the international wheat market, Iraq may have to increase its purchasing prices.

It is important to say that Iraqi traders have given bids of no less than one hundred thousand tons of US or Canadian wheat and Iraq may eventually have to start raising amounts to two hundred thousand tons.


MENAFN - Middle East North Africa . Financial Network News: Iraq may have to raise its purchasing prices of wheat

Check on inflation is 'a must' to keep UAE economy on track

Khaleej Times - 14/06/2007

(MENAFN - Khaleej Times) DUBAI — The biggest challenge facing the UAE government in respect to the economy lies in its ability to combat soaring inflation rates.


And "there seems to be very little to buck the trend amidst an economy operating under a fixed exchange rate regime," states a UAE Country Report by HC Securities Brokerage released on Monday.

To keep the economy on the right track, particularly to keep GDP growth robust and lure money to bolster the economy's diversified structure, inflation must be overcome, it concludes.

Entitled "Yesterday, Today and Tomorrow," the report says that while the most obvious cause of inflation is skyrocketing rent rates, the issuance of certificates of deposit by the UAE Central Bank to absorb the market's excess liquidity, is also having an inflationary impact.

The seven per cent rent cap that came into effect in January is also not expected to curb inflation to a great extent. This is primarily because HC Securities predicts the demand for housing units to fall short of supply in 2007, based on its own real estate sector estimates. The devaluation of the US dollar against other currencies and the heating up of the economy have also rippled through the UAE economy in the form of higher prices, the report says.

Although, the UAE government is expected to keep the dirham pegged to US dollar until 2010, the UAE is planning to shift eight per cent of its 2006 $25 billion foreign currency reserves into euros. In the long run, the brokerage expects the UAE to shift the peg away from the dollar to a basket of currencies.

The UAE's reducing dependence on oil — non-oil revenues shot up 130 per cent between financial year 2005 and financial year 2006 — proves the success of the country's diversification plan, concludes the report. But it also notes that the jump was triggered by privatisation proceeds.

If the UAE is to diversify its sources of income, the introduction of a taxation system is important. According to the report, a Value Added Tax (VAT) will be introduced by the end of the decade with the implementation of the GCC monetary union by 2010. In line with IMF recommendations, the introduction of property taxes and corporate tax on all sectors is also expected.

"If these taxes are not introduced, the fiscal surplus might be short-lived," says the report. Tax revenue represented only six per cent of total revenue in 2005.

The importance of the hydrocarbon sector to total revenues and the fate of the budget deficit/surplus cannot be ignored, however. When excluding oil revenue the 7.8 per cent of GDP surplus turns into a deficit of 15.1 per cent of GDP, the HC report states.

In its scenario work, in which HC Securities factors in a greater level of government spending, it anticipates that "the budget surplus to be eradicated in 2007". However, the report also states: "Although we question the ability of sustaining a budget surplus amid rising spending on development, it is not worrisome as it will positively affect the situation in the future. A bulk of the revenue, generated from government-owned foreign assets is not recorded on its books, which in reality raises the total revenues figure."


MENAFN - Middle East North Africa . Financial Network News: Check on inflation is 'a must' to keep UAE economy on track

Originally Posted by Lunar

Iraq facing complex series of overlapping sectarian, ethnic conflicts; world community must not be spectator to crisis, Security Council told.

5693rd Meeting* (PM)
Source: United Nations Security Council

Date: 13 Jun 2007


Special Representative Says International Community Has Vital Security Stake In Iraq, Inescapable Moral Obligation to Help Government Bring about Stability

With Iraq facing today an exceptionally complex series of overlapping sectarian, political and ethnic conflicts that were beyond the capacity of any one actor or policy to resolve, the international community could not allow itself to become a spectator to the unfolding crisis in Iraq, if only because of the unconscionable human cost involved, the United Nations senior envoy to Iraq told the Security Council this afternoon.

Describing the deepening sense of insecurity and pessimism among many Iraqis, Ashraf Jehangir Qazi, the Secretary-General's Special Representative for Iraq said the international community not only had a vital security stake in the stability of Iraq, it also had an inescapable moral obligation to encourage and enable Iraq's Government in building inclusive and cumulative processes that could bring about stability.

Long article.....continued at:

Press Releases: Iraq, Iraq facing complex series of overlapping sectarian, ethnic conflicts; world community must not be spectator to crisis, Security Council told

thats it in a nutshell, the rest of the world better step up and not just with their oil pans outstretched.

Originally Posted by Hkp

Dr. Ahmed Chalabi will meet with President Mr. Jalal

(Voice of Iraq) - 14-06-2007

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Send this topic to a friend

MERCIFUL

Statement / Dr. Ahmed Chalabi will meet with President Jalal Talabani

He met with Dr. Ahmed Abdul Hadi Chalabi, head of the Iraqi National Congress and the Chairman of the popular mobilization in support of a plan to impose law with President Jalal Talabani on Wednesday, 06/13/2007, During the meeting, which was at the residence of President Talabani discuss developments in the security situation in the country, after repeated sinful attack on the goat Imams them military operations in Samarra. A statement issued by the press office of the presidency that (during the meeting to discuss the security situation in the country and ways of improving access to the stabilization of the country).

During the meeting, both sides confirmed the need to do good and to intensify efforts to thwart terrorist plots of Tkeverien and Saddamien designed to inflame sectarian sedition among the Iraqis in order to thwart the democratic political process and the abortion of the gains achieved supreme national efforts of the Iraqi people and the homeland. According to the statement of the Presidency of the Republic, it (the plan had been discussed imposition of the law, and ways to revitalize and activate the aim of eliminating terrorist elements in Iraq. It was also emphasized the need to close ranks in order to address each of the obstacles and tries to sabotage the political process in the country). This previously Ahmed Chalabi met last Sunday 10/06/2007 Deputy Prime Minister for Security Affairs Dr. peace Zubai and discussed with him the current situation and ways to the success of the security plan.

Iraqi National Congress

14/06/2007

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

long time comin. they will probably get something done now that they went 'stealth', so to speak.

Recent oil discoveries made in Iraq


MENAFN - 13/06/2007





(MENAFN) An oil researcher in Iraq said that Iraq has approximately 530 geological complexes of potential oil reserves and that up to one hundred and fifteen sites have recently been drilled for that have reserves of around 3,111 billion barrels of oil, Iraq Directory reported.

He went on to say that in addition to this 415 locations which are yet to be explored are thought to have an estimate of around 215 billion barrels.

It is noteworthy that the central oil rich provinces in Iraq are mainly in Kirkuk and Basrah and Basrah possesses Iraq's largest oil reserves.

MENAFN - Middle East North Africa . Financial Network News: Recent oil discoveries made in Iraq

BUSTED

Briton held in Saddam oil scam probe

POL-UK-OIL-ARREST
Briton held in Saddam oil scam probe

LONDON, June 14 (KUNA) -- A British trader accused of paying millions of dollars in kickbacks to Saddam Husseins regime in an international oil scam was arrested here Thursday, Scotland Yard said.

US prosecutors want to put John Irving, 52, on trial over claims he illegally breached UN sanctions over the purchase of Iraqi oil.

Office from Londons Metropolitan Polices extradition unit arrested Irving in central London.

They were acting after US authorities issued an extradition warrant detailing the allegations he faces.

Irving, of Sherborne Saint John, in Hampshire, southern England, is accused of conspiring with others to evade sanctions blocking the sale of Iraqi oil.

The claims involve the oil-for-food programme which was designed to allow Iraq to export a limited supply of its crude oil in return for humanitarian goods.

US prosecutors said Irving manipulated the scheme and defrauded the UN for profit through his employer "Bayoil".

Two others, including David Chalmers, owner of the Houston-based company, have already been charged.

All three face up to 62 years in prison and a maximum fine of 530,000 pounds (one million US dollars) if convicted.

It is alleged that the trio fixed a deflated official selling price for oil between January 2000 and March 2003.

At the same time they paid illegal, secret commissions and surcharges to Iraqi government officials, it is claimed.

US prosecutors also claim that Irving lied by stating that no bribes or kickbacks had been paid.

Irving was appearing at Westminster Magistrates' Court, in central London, later today. (end) he.bz.


KUNA 141741 Jun 07NNNN

Kuna site|Story page|Briton held in Saddam oil scam probe ...6/14/2007

Iraqi MPs oust outspoken speaker



Many MPs viewed the speaker as erratic and embarrassing

Members of the Iraqi parliament have voted to replace the speaker after the latest in a series of scandals involving the Sunni Arab politician.


The move came a day after Mahmoud Mashhadani allegedly ordered bodyguards to beat a fellow MP, his deputy said.
Iraqi TV said Mr Mashhadani's political bloc, the National Concord Front, had agreed to let him stand down.
He has previously been criticised for calling anti-US insurgents "heroes" and slapping another Sunni MP in the face.
The parliament has given Mr Mashhadani's bloc a week to come up with another nominee.

Heavy-handed
Correspondents say a majority of Iraq's 275 MPs appear to view Sunday's incident as the last straw, branding Mr Mashhadani's behaviour erratic and embarrassing.
He became embroiled in a shouting match with a Shia Turkoman MP, Firyad Muhammad Omar, who had complained to the speaker about his heavy-handed personal security guards. Mr Mashhadani responded with a torrent of abuse, and - according to Mr Omar - an order to his guards to beat him up. The former physician and hardline Islamist did not attend Monday's session, which was chaired by his Shia Muslim deputy, Khalid Attiyah.


BBC NEWS | Middle East | Iraqi MPs oust outspoken speaker