Thread: Archive Latest News - Think Tank - 15/04/08 - 26/08/08

2 ships, Oil Tanker arrive at Basra Port

Basra's port of Khour al-Zubeir received an oil tanker and two cement cargo ships on Thursday, the public relations and media director at the State Company for Iraqi Ports said.

"This morning, the port received a Panamanian ship carrying 1,400 tons of cement and a Sierra Leonean ship with another 1,600 tons of cement," Abdul Kareem al-Basri told Aswat al-Iraq - Voices of Iraq - (VOI).

"An Iraqi oil tanker, carrying 13,000 tons of fuel oil also arrived at the port," al-Basri added.

The Shiite province of Basra, 590 km south of the Iraqi capital Baghdad, has five commercial ports and two oil ports: al-Maaqal, established in 1916 by the British forces and handed over to Iraqi authorities in 1937; and Faw, a small port on the al-Faw Peninsula near the Shatt al-Arab and the Persian Gulf.

In the early 1970s, Umm al-Qasr port was built, and in 1974, Khour al-Zubeir and Abu Falous ports were established on the Shatt al-Arab.

Aswat Aliraq

Rose Appointed CFO of Gulfsands Petroleum

Gulfsands Petroleum plc, the oil and gas production, exploration and development company with activities in Syria, Iraq and the USA, is delighted to announce the appointment of Mr. Andrew Rose as Chief Financial Officer and Director.

Andrew Benedict Rose, 51, was the former Chief Financial Officer of Burren Energy ('Burren'), the UK independent oil and gas company which was acquired by ENI S.p.A. ('ENI'), the Italian oil major, for US$3.6 billion in January 2008. Mr. Rose, who holds a BSc in Engineering from Cambridge University, joined Burren Energy as Chief Financial Officer in 2001, when it was a private company. He was a key Director in developing and building Burren from a small private company, through to its listing on the London Stock Exchange in December 2003 and into one of the UK's most successful mid tier independent oil companies, culminating in its sale to ENI late last year.

Mr. Rose spent the greater part of his early career in investment banking, working in advisory, capital markets and structured finance roles, and prior to joining Burren was head of Corporate Finance for Eastern Europe, Middle East and Africa at Societe Generale.

It is expected that Mr Rose will begin to take up his responsibilities from the beginning of June 2008 and will join the Company on a full-time basis on 1 August.

Mr. Rose has been granted 1,000,000 options to subscribe for ordinary shares in the Company as part of his overall compensation package. The options are all exercisable at 175 pence per share and will vest in three tranches, being 500,000 on the date of his appointment and 250,000 on each of the first and second anniversaries of his appointment.

Rose Appointed CFO of Gulfsands Petroleum | Iraq Updates

Iraq to participate in Egypt's WEF meetings

Iraqi politicians and economists will take part in the upcoming meetings of the World Economic Forum (WEF) on the Middle East, scheduled to be held in the Egyptian Red Sea resort of Sharm al-Sheikh from May 18-20, an informed source from the Iraqi embassy in Cairo said on Thursday.

"Adel Abdul Mahdi, the deputy prime minister, and a number of ministers concerned with economy and trade are expected to take part in the panels held during the forum," the source, who requested anonymity, told Aswat al-Iraq - Voices of Iraq - (VOI).

The 2008 WEF will be organized by the Egyptian Ministry of Foreign Affairs and Industry in the Sharm al-Sheikh resort, with the participation of official and unofficial figures, businessmen, and investors, the source noted. Invitations have been sent to heads of states and foreign and trade ministers from over 70 Arab and foreign countries, he added.

This year's summit will tackle several political-economic and development issues, with particular emphasis on the Middle East, according to the same source.

Among the issues on the summit's agenda are the achievement of stability in Iraq and the effect of international competition, particularly from huge forces like the United States, the European Union, China, Russia, and India on the Middle East, the source explained.

Challenges facing the tourism sector in the Middle East, the optimal use of resources, cash flows, the effect of the higher rates of inflation on local markets and the role of governments in handling the economic crisis are also on the agenda, he added.

The World Economic Forum (WEF) is a Geneva-based foundation whose annual meeting of top business leaders, national political leaders, and selected intellectuals and journalists is usually held in Davos, Switzerland. It was founded in 1971 by a business professor.

Iraq to participate in Egypt's WEF meetings | Iraq Updates

Brimakov Arrives at Erbil International Airport

Today the Head of Russian Chamber of Commerce, Yevgeny Primakov, arrived at Erbil International Airport. He was received by a number of politicians and government officials.

“I am very delighted by this visit to Kurdistan region. I see lots of progress in all aspects in this region. I hope relations between Russia and Kurdistan region will be further developed,” Primakov told the reporters in the airport.

http://pukmedia.com/english/Daily%20News/2008-05-09/news10.htm

President Talabani Describes Brimakov as Friend to Iraqis and Kurdish People

Today the Iraqi President, Jalal Talabani, met with the head of Russian Chamber of Commerce and ex-Prime Minister, Yafighini Brimakov and an accompanying delegation in Sulaimani.

President Talabani welcomed the delegation warmly and expressed his happiness on their visit, describing Mr. Brimakov as friend to the Iraqis and the Kurdish people. President Talabani also hoped that their visit to Kurdistan region will be successful and contribute towards promoting bilateral relations between Iraq and Russia on one side and Kurdistan region and Russia on the other .

On his part, Yafighini Brimakov appreciated President Talabani for his warm reception and hospitality.

PUKmedia :: English - Home

Iraq and Russia Chambers of Commerce Sign Protocol

This evening a protocol has been signed between the Iraqi Chambers of Commerce and the Russian Chamber of Commerce in Sulaimani.
On the Russian side, head of Russian Chamber of Commerce, Yafighini Brimakov and on the Iraqi side head of the Iraqi Chambers of Commerce, Raed Alwani , has signed the protocol.

“The protocol includes several aspects such as investment, trade, natural resources explorations,” a source from the Sulaimani Chamber of Commerce told PUKmedia.

PUKmedia :: English - Home

Kurdish Lawmakers Rebuke Other Iraqi Lawmakers’ Claim

Today a group of the Kurdish lawmakers in the Iraqi Council of Representatives held a press conference in Baghdad in which they stated that Shangal, Zimar, Makhmour and Shekhan areas in Nineveh province are historically, demographically and geographically part of Kurdistan region.

As the lawmaker, Rauf Othman, said, the Kurdistan Alliance bloc is committed to the Iraqi constitution – the bloc works for bringing those areas back to Kurdistan region according to article 140 of the constitution.

The statement came after another group of Iraqi lawmakers led by Osama Nijefi recently alleged that the Kurdistan Peshmerga forces try to annex those areas to Kurdistan region by force while they are part of the Arab territories. Rauf Othman said that those Iraqi lawmakers are against the Iraq’s new experiment and its constitution.

PUKmedia :: English - Home

President Talabani Meets Delegation of Iraqi Investors

Today the Iraqi President, Jalal Talabani, met with a delegation of the Iraqi investors, who live abroad, in Sulaimani.

President Talabani listened to the views of the delegation on the positive outcomes of their visit to Kurdistan region. A member from the delegation briefed President Talabani on the key obstacles which investors face in the country, expressing their readiness to invest in secure pats of Iraq particularly in Kurdistan region as a first step.

President Talabani emphasized that the Iraqi general policy is to encourage investment and the private sector in the country, indicating that there is large opportunities for investment and the private sector can play its key role in rebuilding and developing Iraq.

The Iraqi President reiterated his support to the investors, promising he will do his best to overcome the obstacles which hinder the process of investment whether in Kurdistan region or other parts of Iraq.

On their part, the delegation appreciated President Talabani for his support to encourage investment and the private sector all over Iraq.

PUKmedia :: English - Home

Quick Iraqi LNG Plan

Royal Dutch Shell is laying out ambitious plans for Iraqi gas exports, starting with a modest 400 million cubic feet per day (4.1 billion cubic meters per year) over the next four to seven years, possibly rising to 2 billion cubic feet per day by the end of the next decade, once Iraq stabilizes enough to start pushing crude oil production capacity in southern Iraq up towards 5 million barrels per day, from about 2.2 million b/d now.

Quick Iraqi LNG Plan

This is a good article but I can't copy it over for some reason so if you wish to read more just follow the link.

ICB: We will not be affected by American economy crisis

Adviser of the Iraqi Central Bank, Dr Mazhar Salih, confirmed the continuation of the monetary policy aiming at reducing the size of inflation in the national economy, leading to a stable environment for growth. Salih said in a press statement that the economic recession which is expected to occur in the U.S. economy in the next term will not be of much effect on the national economy, according to some economic reports. Salih added that Iraq and its trading partners are working within the dollar zone, which links them to the economic impacts in the United States, but he clarified that the relationship between the decline in the dollar and the high oil prices will contribute to modify the impact on Iraqi economy. He expected the emergence of a third economic power in the world within the next 20 years, to establish a state of economic balance in addition to the two American and European powers, which will be represented by the emergence of a special currency to Asian countries which are growing economically, or as Salih called it by the " Chinese World currency."

http://www.iraqdirectory.com/DisplayNews.aspx?id=6059