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    IMF Update 2

    Technical Assistance Evaluation Program - Findings of Evaluations and Updated Program

    Summary:

    This paper summarizes the findings of evaluations of technical assistance (TA) projects conducted since the last Board paper on the Technical Assistance Evaluation Program in 2006. Updates to the Evaluation Program are also provided for FY2009–2011. The Evaluation Program was launched in July 2002, and is organized as a rolling work plan of three to four evaluations per year. Evaluation results are reported to the Board for information on a regular basis. Since the Program’s initiation, 14 evaluations have been completed and their results presented to the Board (Table 1).

    The evaluations featured in this paper are geared to provide background information for ****utive Directors’ discussion of the paper on Enhancing the Impact of Fund Technical Assistance. In particular, given the increasing emphasis on planning and delivering TA on a regional basis, and the consideration to use multi-donor topical trust funds to attract new TA financing, it is timely that this paper studies evaluations of two Fund regional TA centers (RTACs) and one multi-donor subaccount, as follows: (a) the mid-term evaluation of the Middle East Regional Technical Assistance Center (METAC); (b) the second mid-term review of the Caribbean Regional Technical Assistance Center (CARTAC); and (c) the evaluation of the TA subaccount for Iraq.

    Summary :-

    Technical Assistance Evaluation Program - Findings of Evaluations and Updated Program

    Full Text :-

    http://www.imf.org/external/np/pp/eng/2008/040408.pdf

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    PM Maliki pledges providing security for global companies investing in Iraq

    The Iraqi PM Nouri al-Maliki on Thursday said Iraq is in need of big global companies to carry out reconstruction projects in his violence-wracked country.

    Speaking at a meeting to the Najaf’s provincial council, PM Nouri al-Maliki said “security operations to stop bloodshed delayed state efforts of reconstruction and investment”.

    Maliki paid visit to Najaf holy shrine and top Shiite cleric Ali Sistani.
    “We managed and are still working on addressing the security challenge”, Maliki noted.

    He added “we are not suffering from shortage of fund for electricity and water projects, yet other states banned its companies from entering Iraq due to insecurity and lack of financial guarantees”.

    Yet the PM said “a great number of global companies in different sectors started to flow into Iraq to invest in reconstruction across the country”.

    He pointed out “the government deposited funds into bank accounts of big international companies to dismiss their concerns about working in service projects for the country”.

    Iraq’s fiscal budget for calendar year 2008 amounts to 48 billion along with an extra five-million budget gained from oil prices hikes in global markets dedicated for reconstruction.

    “We have had a boom in freedom, equality and co-existence” The PM said, “We want to invest the extra money in carrying out projects”.

    He added “job opportunities must be provided in all sectors to resolve the poverty problems by the extra money gained from hikes in oil prices”.

    Iraq, a country with bad infrastructures, suffers from insecurity, rising rates of unemployment along with rampant financial corruption impeding the investment of global companies in the oil-rich country

    Aswat Aliraq

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    Poland shifting its Iraq focus to business alliance

    After spending nearly six years as a member of the coalition providing security to Iraq, Poland is preparing to draw down the last of its troops from Iraq later this year, but America’s European ally has no intention of closing the book on Iraq for good, according to Poland’s ambassador to Iraq, Gen. Edward Pietrzyk.

    Instead, Pietrzyk said, with stability established in the Iraq province Poland’s military forces are overseeing, economic partnerships are his country’s new priority.


    In his role as ambassador to Iraq — which the general has held since 2004 — Pietrzyk already has a group of Polish investors prepared to forge a contract with Diwaniyah’s governor in June.


    After that deal is off the ground, he is hoping to quickly bring in more than 80 additional Polish business members who he has been busy wooing in Poland.

    “They are interested in developing economic cooperation between Poland and the province,” he said.

    Rebuild Iraq

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    Kirkuki: Article 140 must Be Implemented before Elections

    Dr. Kamal Kirkuki, deputy Kurdistan Parliament Speaker met Mr. Bell Dixon, the British consul in Kurdistan Region.

    Mr. Kirkuki emphasized that Article 140 has its importance and privacy for the Kurdish people and said “this matter made us to send a high ranking delegation from the parliament to visit Mr. Di Mistura, U.N.’s secretary-general representative and Mr. Raed Fahmi, the head of Article 140 Implementing Committee in Baghdad.”

    Concerning the allegations that said “implementing Article 140 is a complicated matter”, Mr. Kirkuki said “it is not true. The Iraqi constitution was issued by coordination of all political components, and 80% of Iraqi people accepted it. We must let the people of these areas to decide their fate through a democratic atmosphere to choose either being with Baghdad or Kurdistan Region.”

    He added “this matter must be ended before the elections of the Provinces’ Councils.”

    PUKmedia :: English - Kirkuki: Article 140 must Be Implemented before Elections

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    Prime Minister Barzani meets President Bush in Washington

    Prime Minister Nechirvan Barzani this week met US President George W. Bush and National Security Advisor Stephen Hadley at the White House.

    President Bush and Prime Minister Barzani discussed the latest developments in the Kurdistan Region and the situation in Iraq.

    "It was an excellent and productive meeting - both substantive and very friendly," said Minister Falah M. Bakir, Head of the Kurdistan Regional Government’s Department of Foreign Relations.

    The Prime Minister thanked President Bush for the sacrifices of the American people in support of freedom throughout Iraq and in the Kurdistan Region.

    "I am very pleased with my visit to Washington. In all of my meetings, there was great interest in the Kurdistan Region and appreciation for what we have accomplished," said the Prime Minister. "Our relationship with the United States has never been better."

    PUKmedia :: English - Prime Minister Barzani meets President Bush in Washington

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    Default Renewal in Iraq - from the White House

    This is only an excerpt - follow the link for full detail

    To Assume More Responsibility For The Welfare Of Their People And The Fate Of Their Country, Iraqis Are Stepping Forward On The Security, Economic, Political, And Diplomatic Fronts
    Iraq's economy will increasingly move away from American assistance, rely on private investment, and stand on its own. In their recent budget, Iraqis would outspend the United States on reconstruction by more than 10 to one, and American funding for large-scale reconstruction projects is approaching zero. The U.S. share of Iraq's security costs will drop as well, as Iraqis pay for the vast majority of their own Army and Police. Ultimately, we expect Iraq to shoulder the full burden of these costs.
    The U.S. will help Iraqis build on the security gains made during the surge. Currently, U.S. Special Forces are launching multiple operations every night to capture or kill al Qaeda's remaining leaders in Iraq. Coalition and Iraqi forces are also stepping up conventional operations against al Qaeda in northern Iraq, where terrorists have concentrated after being largely pushed from central and western Iraq.
    • The Iraqi Army and Police are increasingly capable, and leading in the fight to secure their country. As Iraqis assume the primary role in providing security, American forces will increasingly focus on targeted raids against terrorists and extremists, continue training Iraqi forces, and be available to help Iraq's security forces if required. In the period ahead, the U.S. will:
      • Continue to train, equip, and support the Iraqi security forces;
      • Continue to transfer security responsibilities to them as provinces become ready; and
      • Move over time into an overwatch role.
    On the political front, Iraq has seen bottom-up progress. Tribes and other groups in the provinces who fought terror are now turning to rebuilding local political structures and taking charge of their own affairs. Progress in the provinces is leading to progress in Baghdad, as Iraqi leaders increasingly act together, share power, and forge compromises on behalf of the nation. Upcoming elections will consolidate this progress and provide a way for Iraqis to settle disputes through the political process instead of through violence. Iraqis plan to hold provincial elections later this year, and these will be followed by national elections in 2009.
    Iraq will increase its engagement in the world and the world must increase its engagement with Iraq. A stable, successful, and independent Iraq is in the strategic interests of Arab nations and all who want peace in the Middle East, and we will urge them to increase their support this year.
    • President Bush is directing our Nation's senior diplomats to meet with leaders in Jordan, Saudi Arabia, the United Arab Emirates, Qatar, Kuwait, and Egypt. In each capital, they will brief them on the situation in Iraq and encourage these nations to re-open embassies in Baghdad, and to increase their overall support for Iraq. This engagement effort will be followed by Secretary of State Condoleezza Rice's trip to the Third Expanded Neighbors Conference in Kuwait City and the second International Compact with Iraq meeting in Stockholm.
    Improvements In Security Have Helped Clear The Way For Political And Economic Developments In Iraq
    U.S. and Iraqi forces have made significant progress bringing down sectarian violence, restoring basic security to Iraqi communities and driving terrorists out of their safe havens. Neighborhoods once controlled by al Qaeda have been liberated. Sectarian violence is down dramatically, and civilian and military deaths are also down. Cooperation from Iraqis is stronger than ever – they are providing more tips, more Iraqis are joining their security forces, and there is a growing movement against al-Qaeda called the "Sons of Iraq."
    Improvements in security have helped clear the way for the political and economic developments. At the local level, businesses are re-opening and provincial councils are meeting. At the national level, there is much work ahead, but the Iraqi government has passed a budget and three major "benchmark" laws. The national government is sharing oil revenues with provinces, and many economic indicators in Iraq – from oil production to inflation – are now pointed in the right direction.
    Our National Interests Require Success In Iraq
    Success in Iraq would bring us closer to our most important goal – making the American people safer here at home. Success in Iraq would give the U.S. a new partner with a growing economy and a democratic political system in which Sunnis, Shia, and Kurds all work together for the good of their country. It would demonstrate to a watching world that mainstream Arabs reject the ideology of al Qaeda, and mainstream Shia reject the ideology of Iran's radical regime, and deliver a historic blow to the global terrorist movement and a severe setback for Iran.
    Failure in Iraq would diminish our Nation's standing, undermine national security, lead to massive humanitarian casualties, and increase the threat of another terrorist attack on our homeland. If we fail in Iraq, al Qaeda would claim a propaganda victory of colossal proportions, and they could gain safe havens in Iraq from which to attack the United States and our friends and allies. Iran would seek to fill the vacuum in Iraq, which would embolden Tehran's radical leaders and fuel their ambitions to dominate the region. The Taliban in Afghanistan and al Qaeda in Pakistan would grow in confidence and boldness.

    Renewal in Iraq
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    Default when are the provincial elections - here's a clue - later

    http://www.alsumaria.tv/en/Iraq-News/1-18035-.html


    Al Maliki discusses Iraq with Al Sistani

    Friday, May 23, 2008 06:45 GMT <DIV class=nd_style2 align=justify>In a surprise visit to Najaf City, Prime Minister Nuri Al Maliki announced following a meeting with Cleric Grand Ayatollah Ali Al Sistani that the latter supports the State and everything put forth that comes in favor of Iraqis. Al Maliki said politicians who come to Al Sistani conclude that his main concern is Iraq as he always stresses on the State control, the importance of laying down weapons and the necessity to defend victims of injustice. As for provincial elections, Al Maliki affirmed that the electoral law is not yet approved by Parliament saying that the State is entitled to decide about the elections system. He added that he personally favors open lists to allow for citizens to select their favorite candidate. During a meeting with provincial council members of Najaf City, he asserted that the political process in Iraq is improving after security was ascertained in most of Iraqi Districts.
    Al Maliki affirmed as well that there is gradual progress on the economic level noting that the complementary budget is estimated at 10 billion dollar.
    Prime Minister Al Maliki announced also that a 15 hospitals project was transferred to German companies revealing that a contract will be signed soon with a US Company to build up electrical stations that would provide

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    http://www.alsumaria.tv/en/Iraq-News/1-18035-.html


    Al Maliki discusses Iraq with Al Sistani

    Friday, May 23, 2008 06:45 GMT <DIV class=nd_style2 align=justify>In a surprise visit to Najaf City, Prime Minister Nuri Al Maliki announced following a meeting with Cleric Grand Ayatollah Ali Al Sistani that the latter supports the State and everything put forth that comes in favor of Iraqis. Al Maliki said politicians who come to Al Sistani conclude that his main concern is Iraq as he always stresses on the State control, the importance of laying down weapons and the necessity to defend victims of injustice. As for provincial elections, Al Maliki affirmed that the electoral law is not yet approved by Parliament saying that the State is entitled to decide about the elections system. He added that he personally favors open lists to allow for citizens to select their favorite candidate. During a meeting with provincial council members of Najaf City, he asserted that the political process in Iraq is improving after security was ascertained in most of Iraqi Districts.
    Al Maliki affirmed as well that there is gradual progress on the economic level noting that the complementary budget is estimated at 10 billion dollar.
    Prime Minister Al Maliki announced also that a 15 hospitals project was transferred to German companies revealing that a contract will be signed soon with a US Company to build up electrical stations that would provide electricity.

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    This is an interview with Oil Minister 'Al-Shahrastani' given on 6th May 2008 and published on May 19th - but this is the first time I have seen it.

    There's quite a lot there.....I have split it into 2 parts.

    Iraqi Minister on Increasing Oil Output, Contracts With Foreign Companies

    ["At the Minister's Office" programme: Interview with Iraqi Oil Minister Husayn al-Shahrastani at his office in Baghdad, conducted by Ala al-Hattab - live or recorded.]

    Al-Iraqiyah ********** at 1610 gmt on 6 May 2008 carries in its "At the Minister's Office" feature a 50-minute interview with Iraqi Oil Minister Husayn al-Shahrastani. The interview is conducted by Ala al-Hattab in Baghdad.

    A video report on the biography of the Karbala-born Al- Shahrastani, member of the United Iraqi Alliance, is carried. The report says one of his previous posts was adviser to the Iraqi Atomic Energy Agency, and he was head of the international agency for refugees in Iran from 1998 to 2002, and that since he took over as oil minister Iraq increased its oil production to 2.5 million bpd.

    Asked about the effect of recent hikes in oil prices on the oil situation in Iraq, Al-Shahrastani says the oil industry in the world in general and in Iraq is at its best. He says oil revenues in the first quarter of 2008 amounted to $15.5 billion, which is almost double the sum planned for in the 2008 budget, and there is a surplus in state revenues, and thus the State is anxious to draw up a complementary budget for the second half of 2008 and release more funds for the reconstruction plan and for the import of additional foodstuff.

    Asked if there is an increase in Iraqi oil exports, Al- Shahrastani says yes, oil exports increased from a maximum of 1.5 million bpd in 2007 to an average of 1.9 million to 2 million bpd, while the 2008 budget provides for the export of only 1.7 million bpd. He says Iraq will continue to increase production and exports in the remaining months of 2008.

    Asked if Iraq is now technically prepared to develop its oil industry, Al-Shahrastani says the fact that Iraq has succeeded in raising production and export levels in the past five years indicates it has the competence and determination to do so, adding: But is what we produce at present commensurate with what Iraq is capable of producing, taking into consideration Iraq's huge oil reserves which exceed 115 billion barrels? He says the answer is that Iraq needs to cooperate with oil companies, import the most modern technologies, train Iraqi cadres in those technologies, and obtain advanced equipment. He says Iraq is now inviting foreign companies through competitive and transparent public deals that achieve for Iraq the highest financial yield, employ Iraqi labour, and train unskilled manpower for the oil industry. He says there will be "a qualitative leap in 2008 to develop cooperation with oil companies to increase oil production and exports."

    Told that some oil experts ask that each governorate should have an oil refinery whose output is commensurate with the governorate's needs for oil derivatives, Al-Shahrastani says small refineries whose capacity is 10,000 or 30,000 bpd in each governorate are not economic and do not produce gasoline at the required standard and quality and suffer from many technical and economic problems. He says Iraq is turning towards building modern big refineries which do not only meet local consumption needs but also export oil products at higher prices than crude oil. He says there are plans to build a refinery with a capacity of 300,000 bpd in the governorate of Dhi Qar at a cost exceeding $5 billion, and a refinery with a capacity of 150,000 bpd in Karbala and in Kirkuk. He says at the same time they are going ahead with plans to provide products in the shortest period possible to the governorates, and a refinery is being built in Al-Diwaniyah while the Al-Najaf refinery has been expanded and it will be further expanded.

    Asked when work will begin on the big oilfields in Al-Nasiryah and Karbala, Al-Shahrastani says the oilfields should not be mixed with the refineries, for they are two different issues. He says a contract has been signed for the studies and designs for the Al- Nasiriyah refinery and the same goes for the Karbala refinery which is being built in two stages: the first stage involves building a small refinery quickly to meet needs and it is hoped to complete this stage in less than 18 months and it will have a capacity of 40,000 bpd. He says there is now a big stockpile of oil products in Iraq, and it has been decided to allow the sale of liquid gas without ration cards and without a limit in Al-Sadr City in particular, to alleviate the people's suffering, and this will be subsequently done in other areas. He says refineries are now producing more than in the past, and imports of oil derivatives have decreased.

    Told there are those who say capacity of Al-Najaf refinery is not more than 10,000 bpd, while others speak of lack of material in the refinery and say the gasoline produced there goes to the Al-Dawrah refinery for further treatment, Al-Shahrastani says that is exactly the result when each governorate wants its own refinery. He says the refineries with a 10,000 bpd capacity were imported by Iraq for "exceptional circumstances and have a limited technology." He says a second unit will be opened at the Al-Najaf refinery with a capacity of 10,000 bpd, and a third unit will be added, and new units are being ordered to improve the quality of gasoline. He says the solution is to build the new Karbala refinery with a capacity of 150,000 bpd which will meet not only the needs of the central Euphrates but of other Iraqi areas as well. He notes it takes four to five years to build such a refinery.

    Asked why work on building refineries was not begun immediately after the fall of the previous regime, Al-Shahrastani says the question should be addressed to those in power at the time. He adds to be fair it should be said that the country's circumstances at the time were not normal, and the civil administration was running matters in "an arbitrary and confused manner," and even when the Governing Council was formed the country had no real administration. He says no sooner his predecessors began to put matters in order when major terrorist attacks occurred and the bombing of the Samarra shrine created sectarian tension, and not only refineries but also hospitals, housing units, airports, and roads were not built.

    Another video report says the Oil Ministry's performance has improved with the improvement in the security situation. Oil Ministry Undersecretary Ahmad Abd-al-Amir al-Shamma says imports of oil derivatives have decreased steadily in recent years. Another official says stringent measures will be taken against those who do not abide by official prices set for oil derivatives. He says there are "good quantities" of oil products in both the north and south, and urgent plans have been drawn up to transfer those quantities to Baghdad to build "a good stockpile of those products." Several citizens all testify to the improvement in the availability of petroleum products.

    Asked about the international oil companies that reportedly want to invest in Iraq's oil industry, Al-Shahristani says the extraction, refineries, and distribution sectors of the oil industry need investment and development. He says they have begun to ask the companies that want to operate in Iraq's oil extraction sector and the production of crude to qualify, and 120 international oil companies have applied to qualify to operate in Iraq. He says there are clear economic, technical, legal, and training criteria for qualifying, adding that a company's ability to train Iraqi personnel is a criterion because they do not want an investor who brings manpower from other states, and one of the conditions of qualification is that all labour should be Iraqi. He says 35 of those companies have qualified, and now those companies will be invited to submit tenders to develop oilfields whose production can be increased, and work on them will begin this summer. He says the tender that ensures for Iraq the best financial yield and meets the criteria will be chosen.

    Told some people and some studies say that foreign investment in the oil sector could have a negative effect on the Iraqi state and society and argue that the state should be the investor, Al- Shahrastani says the media does not talk about the importance of investment and cooperation with foreign companies, but talks about the kind of contracts concluded with those companies. He says the objection is directed at contracts for partnership in production, where a percentage of the Iraqi oil produced is allocated to the foreign company. He says foreign companies will not be allowed to share in Iraqi oil, and one of the main reasons the oil ministry and federal government objected to some contracts concluded without the ministry's approval in the Kurdistan province is that they are contracts for partnership in production. He says there are models of other contracts that retain complete national control and Iraqi ownership.

    Iraqi Minister on Increasing Oil Output, Contracts With Foreign Companies - Business - redOrbit

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    Continued.......

    Al-Shahrastani says Iraq and any oil-rich state in the world needs the expertise of the major oil companies, equipment, training for their personnel, and the most modern oil technology. He notes that some of the big oilfields in the south and also the Kirkuk oilfield have aged although hardly 20 per cent of the total oil in them has been extracted, while modern technologies can increase the percentage of oil extracted from such fields, and those technologies are not available in Iraq. Al-Shahrastani notes that if Iraq increases its extraction of oil from existing oilfields by 1 per cent that will result in its reserves yielding 1 billion additional barrels, and 1 billion barrels at current prices means additional revenue of $100 billion.

    Told the prime minister of the Kurdistan province, Nerchivan Barzani, recently said he's prepared to turn over the oil contracts concluded to the central government and asked if committees have been formed to decide on those contracts, Al-Shahrastani says Barzani came to Baghdad two weeks ago with a delegation of experts and they discussed the oil bill that was approved by the Iraqi Cabinet in 2007, and it was agreed to go back to the draft of that bill. He says the Kurdish delegation called for a review of the draft while the oil ministry argued that if the door to a review is opened and discussion is renewed, then the door will be open to introducing many other amendments.

    Told that statements by some Kurdistan province officials indicate they are going ahead with the conclusion and implementation of those contracts and asked about the ministry's stand, Al- Shahrastani says the draft of the bill is clear, and contains an article about contracts concluded prior to February 2007 stating that such contracts should be referred to a committee of experts to ascertain whether they conform with the oil bill, and if not they should be amended so as to conform, and then they will be approved by the committee. He says any contracts concluded after February 2007 are invalid because it is not known if they are subject to the draft's mechanisms such as free and open competition, transparency, qualifying the companies, Iraq achieving the highest financial benefit, and national control. He notes that the Constitution states that the oil belongs to the entire Iraqi people, and therefore how can any one side dispose of it and conclude contracts whereby the other sides do not know what percentage of oil was granted to the companies, and even if it is known how can they be sure it is the highest percentage the Iraqis could obtain when there has been no open competition.

    Asked why the oil bill has been delayed in parliament, Al- Shahrastani says when the Cabinet approved the bill all the political blocs were represented in the government, but subsequently some blocs withdrew from the government and adopted a political stand and called for amendments to the bill, and that led to the delay.

    Told there are neighbouring states and especially Gulf states that press for not adopting the oil bill so that Iraq "will not be an important figure" in the field of exporting oil, Al-Shahrastani says that there is other talk that the United States and others are pushing towards the enactment of the law so as to control Iraqi oil. He reassures Iraqis that this government cannot allow any foreign state, regional or external, whether it has forces in Iraq or not, to interfere in this serious Iraqi affair, and they know that and "they respect themselves and do not initiate a discussion in this matter with me or other officials." He says the 35 companies that qualified belong to 16 nationalities and include American, Russian, Chinese, Indian, and Japanese, and political matters were not taken into consideration at all, only the company's technical competence, financial standing, and training programme were considered.

    Al-Shahrastani says the oil ministry has decided to go ahead with developing the oilfields while observing "all the conditions and requirements of the new oil and gas bill," so that once the bill is passed all their work will have been in accordance with the law.

    He adds if the "enactment of the law is delayed for various political reasons, we are not prepared to wait while the Iraqi people continue to have the present living standard." He says they have decided to go ahead and they have drawn up a plan to increase oil production to 4.5 million bpd within the next five years, and to more than 6 million bpd within the next 10 years, "and we will not stop and wait for anyone."

    Told that some gas stations sell at prices higher than the official prices, and that there has been talk that gasoline will be sold to taxis at different prices than to private cars, Al- Shahrastani says it is illegal to sell at prices higher than the official prices, and urges citizens to refuse to pay more than the official price, which is 450 dinars per litre. He says it is gangs who extort the additional money from citizens with the force of arms, and the state is determined to prevent such extortion. He says the ministry will retain the existing price in 2008. Regarding talk about different gasoline prices for taxis and private cars Al- Shahrastani says that is "propaganda for political purposes." He says some newspapers seek sensationalism and usually have political motives.

    Al-Shahrastani says in the past when there were terrorist attacks on oil tankers and drivers his ministry drew up a programme to ensure that the product reaches its destination and appointed reliable persons to accompany the tankers, but wide scale corruption and terrorism are not eliminated by 40 or 50 employees who escort hundreds of oil tankers daily, yet the entire security situation has now improved.

    Asked if reports that fuel oil prices will increase are true, Al- Shahrastani says fuel oil prices have not changed in the past two years and there is no intention to increase current prices. He notes that Iraq exports black oil at more than 400,000 dinars per ton, while it is sold to citizens at 100,000 dinars per ton.

    Asked about "the joint oilfields with the Iranian side or the Kuwaiti side" and reports that the oil ministry addressed a memorandum of condemnation to the foreign ministry in that regard, Al-Shahrastani says there is "continuing and serious dialogue with Iran and Kuwait. We have agreed in principle with them to sign an agreement known as the unification of oilfields agreement. Thus if there is an oilfield that is in the two countries we choose a third party that is qualified and to which both sides agree to assess the size of the oilfield and the quantity of its reserves, and on the basis of border maps that are agreed upon that third party will decide what proportion of the oilfield lies in the territory of each country and the share of each side in the oilfield, and the two countries exploit it together, because its joint investment will enable the two sides to exploit the oilfield better economically." He says agreement has been reached with Kuwait and Iran on that, and they now are waiting for the Foreign Ministry to demarcate the border with Iran.

    Iraqi Minister on Increasing Oil Output, Contracts With Foreign Companies - Business - redOrbit

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