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

My opinion only... the rich have plenty of dinars and don't so much care for the plight of the poor...

Well, well.........the plot thickens

Parliament: Al-Maliki signed a confidential document allows the Kurds sign oil contracts

A decision of the Commission on Iraqi oil in the parliament, Tuesday, what he called "confidential document" signed by Prime Minister Nouri al-Maliki with President Jalal Talabani and Massoud Barzani allow the Territory Government signed oil contracts with foreign companies without reference to the central government.

But Kurdish officials denied the existence of any agreement on this matter, considering the Territory Government signed oil contracts "constitutional right".

He said Jaber Jaber Khalifa, Rapporteur of the Commission on oil and gas in the parliament he briefed during his visit to Kurdistan province, last month, "the confidential document signed between the Kurdistan Regional Government and the central government (in Baghdad), allows the Government's signature on oil contracts with foreign companies, in If not, pending the completion of ratification of the oil and gas from the Iraqi parliament before June of the year (2007) last. "

The Kurdistan Regional Government of Iraq has concluded, last year, (15) oil contracts with foreign companies, which granted considerable privileges and tax exemptions for these companies, which was considered by the central government "big concession" to these companies, what the effects of political crisis between the two sides. Then the Ministry of Oil has decided to deprive all of those companies signed contracts to invest in other parts of Iraq.

He called Jabir, who belongs to (the Islamic Virtue Party), a Shiite party holds on (15) seats in the House of Representatives of the total (275) seats, the Iraqi government "to clarify this document", describing the statements of Minister of Oil Hussein Shahrastani, and some Iraqi officials critical of Of the oil contracts signed by the Kurds as "a media exaggerations."

MP was no t disclosed on how he obtained the document, nor who informed him it. He said that this document "signed by Prime Minister Nouri al-Maliki, President Jalal Talabani, and (President Kurdistan province) Massoud Barzani, over a year ago, which gives legal standing to the contracts signed by the Government of Kurdistan with foreign companies."

It also did not mention whether both Maliki and Talabani and Barzani signed the document in their official capacity current, or in their capacity as leaders of political parties.

Al-Maliki belongs to the bloc (the United Iraqi Alliance), which operates (83) seats in parliament, holding them on the parliamentary majority, which is at the same time the post of Secretary General of the Party (Islamic Call). With Jalal Talabani headed the Patriotic Union of Kurdistan, headed by Barzani and the Kurdistan Democratic Party, both belonged to (Kurdistan Alliance), who is (55) seats in Parliament, is the second largest parliamentary blocs.

The decision of the Commission on oil and gas in Parliament that the Kurdistan Regional Government "could not take advantage of the seriousness of these contracts (signed by), because oil is exported via main oil pipeline controlled by the central government, as well as to any contract signed between the Government of the Territory require two years to complete, It is enough time to legislate a law of oil and gas. "

The delayed approval of the House bill oil and gas, which was approved by the Government of Nouri al-Maliki and forwarded to the parliament in July last year (2007), due to strong opposition of several parliamentary and political influence of the law.

She says that the strong opposition that the project gives "concessions" unprecedented for foreign investors to establish facilities and oil refineries, and allows investing for periods of up to (50) years, and he devotes controlled territories on wealth owned both the Iraqi people.

Justifying Jaber insistence Kurdistan Regional Government to resolve outstanding problems between them and the central government on this issue, that the Government of the Territory "does not have any outlet to export oil only (port Ceyhan) oil, which passes through the Turkish territories," stressing that "it requires solving problems With the central government (in Baghdad), in order to allow them to export oil. "

For his part, denied press secretary to the President of the Kurdistan Regional Government Mosques Barzani that there be "no secret document" signed by the territorial Government with the central government, allowing the province to sign oil contracts with foreign companies.

His press secretary Mohammed Khoshnaw, the Government of the Territory "by signing contracts with foreign companies under their constitutional rights."

His "The constitution, which gives us the right to sign oil contracts, not a secret document alleged."

A spokesman for the Iraqi government to Skinner, said the beginning of May last, that the version sent to the House bill from the oil and gas "are the same as those agreed upon in February of the year (2007) last."

Skinner pointed out that the House "can be discussed (draft), or under any adjustments that might see members of Parliament."

The decision of the Committee on Oil and Gas House Jabir Khalifa Jaber said, earlier, that there is "a draft of the Law of the oil and gas from the Cabinet sent to parliament, the end of April last, which itself agreed by the Council of Ministers, in February (2007 ), And then intercepted by the Kurdistan Regional Government. "

http://translate.google.co.uk/translate?u=http%3A%2F%2Fwww.aljeeran.net%2Feconom ic.html&sl=ar&tl=en&hl=en&ie=UTF-8

100 billion barrels of oil in the western regions of Iraq

study prepared by an independent international consulting ******* in the field of energy, that the current estimates of Iraqi oil reserves may be doubled with a huge stock of more than 100 billion barrels under the desert sands of the western region, was until recently considered itself deprived of that wealth concentrated north and south of the country . The study showed that CNN aired Agency and published by the company Wednesday IHS, which is the mandate of the Colorado-based American, to transform those assigned to one of Iraq's largest oil exporters in the world, the most attractive to international companies in this sector, if successful efforts to Improving security conditions in that region.

It is known that oil reserves in Iraq is unwavering 115 billion barrels, and if the new reserves were confirmed, Iran, Iraq skips to become the second largest behind Saudi oil wealth, with a reserve of at least 215 billion barrels.'s Minister of Oil Hussein Shahrastani has alluded to this This last Wednesday in an interview with CNN in Arabic site, which confirmed the discovery of a new giant field in the western region near the Syrian border, called "Cup." Believed that the study is the first since the search independent consultant in 2003 to enable Baghdad to double production capacity to increase this to four million Bpd within five years, given the necessary investments. The western region, which has talked about the report of the institution of the majority Sunni armed groups are active, have long known opposition to any laws that limit the profits of oil governorates containing the article, as this would constitute an exception they have General belief that it was the non-oil.

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Huge demand for the dollar on Tuesday

Demand for the dollar went up in the Iraqi Central Bank's auction on Tuesday, reaching $121.774 million compared to $97.725 million on Monday.

"The demand hit $21.300 million in cash and $100.474 million in foreign transfers outside the country, all covered by the bank at an exchange rate of 1,195 Iraqi dinars per dollar," according to the central bank's daily bulletin, which was received by Aswat al-Iraq - Voices of Iraq - (VOI).

None of the 11 banks that participated in the auction offered to sell dollars.

The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

Aswat Aliraq

Kurdistan Regional Government of Iraq oil contracts is better than the central government contracts

The Kurdistan Regional Government of Iraq contracts to participate in the formula applied by the production, better service contracts proposed by the Ministry of Oil in the central government.

The Kurdistan Regional Government in the comparison between the contracts and contracts for the Ministry of Oil central to the report published on Monday, dubbed "the report of the Truth", prepared by the Meurz Pedro, who was described as an expert in financial systems of oil.

The report says that "the application of contractual formula proposed by the Ministry of Oil contracts for the province of Kurdistan, instead of participating in the production version currently used in the province, would be catastrophic for Iraq, but it will lead to real tragedy if applied to the rest of the country", according to a report.

The report quoted Meurz saying that "if there is no balance between the profitability of investors and the Government's objectives, it may lead to huge losses in government revenues."

The report points out that "the wording of technical support contracts, which wants the Iraqi Oil Ministry application tested in Kuwait for more than a decade without any positive results."

The report shows that "under technical support contracts, the role of international oil companies advisory only, and there are no incentives to make them even consulting optimal, since they receive the full wages regardless of their level of performance achieved from the fields."

The Iraqi Oil Minister Hussein Shahrastani said in an interview with "Uzmatik" yesterday, Monday, that "any contract entered into the Kurdistan Regional Government with any oil company without the consent of the Federal Government and the Ministry of Oil was invalid and cancelled."

Prime Minister of Kurdistan Regional Government Mosques Barzani Shahrastani refused an invitation to "the heroes of those contracts," saying it "does not contravene the Constitution and the match global standards."

The report quoted Barzani as saying Meurz Commenting on the report, that "the territorial Government is proud of its achievements to uphold the constitution of Iraq, aimed at encouraging investment to increase reserves and production for the benefit of the general Iraqi people", he said.

Barzani added that "the territorial Government is committed to transparency in calculating oil revenues earned and counted with the participation of all Iraqis a constitutional requirement", expressing regret at the "plans pursued by the Iraqi Oil Ministry since the implementation lead to greater harm the interests of Iraq," according to the source.

Barzani stressed that "the Iraqis will never forgive the huge loss imposed on them by the Federal Ministry of Oil in Baghdad", he said, calling on people and views he called a "friends and political leaders and the Committee on Energy and members of parliament" to "not to waste more time and work quickly to develop Oil sector has long been neglected in Iraq. "

And so on reactions within the Kurdistan Regional Government of Iraq to analyse financial expert Meurz, report quoted Minister of natural resources in the territorial Government Leste Horami saying that "consolidates the validity of our analysis and exposes the hardline policies of the Oil Ministry in Baghdad," adding that "the contractual formula for the Ministry of Oil would not Verification of Iraq only losses estimated at thousands of billions of dollars during the next twenty years. "

The Horami According to the report that "Iraq's oil stockpile additional estimated 250 billion barrels are expected investment for exploration and extraction, and in light of oil prices currently prevailing, the application form the Ministry of Oil would lead to massive loss of Iraq is estimated at some 5 - 6 trillion dollars."

He called on Minister of natural resources in the territorial Government to consider the analysis Meurz "index fulcrum in the debate currently taking place in Baghdad on Oil Law", and expressed the hope that feature specialists give sufficient attention "to ensure that the Oil Ministry and the Federal act responsibly and not allow it The signing of contracts for technical support, or any other contracts formulas outdated ", according to the minister.

Translated version of http://iraqalaan.com/

Iraqi parliamentary describes the performance of parliament that minimum level of ambition

Described member of the House of Representatives of Iraq, Faleh Al Fayyadieh, the performance of the Iraqi Parliament, that was not the level that a.s.p.i.r.e.s to the public and the people, and explained that the law of oil and gas was not presented to the House so far because of differing views among the various political blocs, particularly the Kurdistan Regional Government of Iraq.

Symbolic Shows He attributed the poor performance of the parliamentary deputies in an interview with the "Uzmatik," and what he regarded as "subjective reasons", regarding the nature of the composition of the Council, and other reasons, said that "to do the whole political process," noting that "those reasons led to numerous problems faced The work of Parliament, and struck the performance of Majlis deputies some reluctance, "according to the source.

It is circulated in the Iraqi street to parliament to ratify the laws organs, especially those that grant new concessions, quickly, and often delayed ratification of the laws that concern to citizens.

Symbolic Shows said, that "every law has its own circumstances," explaining that "laws for members of Parliament were not usually the subject of discussion and disagreement among its members, but the laws concerning public issues are often the subject of controversy and debate between the parties and Iraqi political forces, which affects the Speed resolved in parliament. "

The board member Iraqi parliament, that "whether the differences between political forces or the government itself, always take a long time ago resolved, leading to delay the adoption of laws subject of controversy and disagreement," as he put it.

On the delayed presentation of the Law of Oil and Gas Board, the nature of the difficulties that prevented his presentation, said Al Fayyadieh, "Parliament is not responsible for this delay," stressing that "the law has not yet presented to representatives of the people, because of differing views of the Iraqi political blocs, Particularly the differences with the Kurdistan Regional Government of Iraq, which said that "their point of view particularly of foreign investment within the region especially in the field of oil and gas."

Regarding the controversy about the long-standing convention with Washington, considered a member of the Iraqi Parliament, that "the Convention items that leaked through the media, and some of the corridors of politics, no reservation of Iraqi sovereignty," as he put it, but pointed out that "Iraq seeks to consolidate its relations with all World countries, especially those which helped the Iraqi people in the process of toppling the former regime, transnational balanced agreements based on common interests ", he said.

On the upcoming elections for district councils, called on the Iraqi member of parliament, "the Iraqi people to positively participate in the elections, to review the political process and put his mark on the future of Iraq."

It is noteworthy that a member of the Iraqi parliament, Faleh Al Fayyadieh, is one of the members of the Islamic Dawa Party, and entered the previous parliamentary elections within the party list as one of the components of the United Iraqi Alliance bloc, but recently joined the national reform movement which he founded, Secretary General of Dawa Party, the former Ibrahim al-Jaafari.

Translated version of http://iraqalaan.com/

Total on verge of signing Iraq oil service contract: President

French oil major Total is on the verge of signing a service contract in Iraq but does not expect to make major investments in the country this year, the firm's president said Tuesday.

Christophe de Margerie told a news conference at the World Petroleum Congress in Madrid that Total was negotiating a technical service contract together with Chevron to help develop the West Qurna oil fields in Iraq, which is home to the world's third-largest oil reserves.

"We are on the verge of signing a service agreement contract," he said. "We hope to sign a contract in the days, weeks to come. There are not many details to iron out.

"These are just transitory contracts. That is what we can do today because of the security problem. 2009 is probably too short a time frame to carry out major investments," he added.

Iraq is producing 2.5 million barrels of oil per day, which is short of its potential to put out six million barrels per day, Margerie said.

"When will it produce this amount? Don't ask because I don't have the answer," he said, adding the International Energy Agency's forecasts for Iraqi oil production had been consistently wrong.

Iraqi Oil Minister Hussein al-Shahristani said Monday his government was still negotiating with Total, Chevron, Shell, BP and a consortium of other smaller oil companies to develop six oil blocks and two gas fields.

"We did not finalise any agreement with them because they refused to offer consultancy based on fees as they wanted a share of the oil," he told a news conference.

Exxon chief ****utive Rex Tillerson meanwhile told the gathering in Madrid he was optimistic of reaching a deal with the Iraqi government.

"I am very hopeful for Iraq. What role we may play today and in the future is entirely up to them," he said at a joint news conference with Margerie.

Total on verge of signing Iraq oil service contract: president - Yahoo! News

Iraq Demands ten billion dollars of the company "Chevron" oil giant as compensation for players in the oil -

Iraqi government set up a lawsuit to dozens of companies including oil giant Chevron student more than ten billion dollars and said that these companies paid commissions to the regime of late president Saddam Hussein under the United Nations oil-for-food program. The civil suit demanding damages from the companies covered Investigations conducted by a commission of inquiry mandated by the United Nations and claims to have circumvented the Iraqi people is anathema to the returns of the United Nations, which amounted to 67 billion dollars outcome. The program, which continued from 1996 to 2003 had been established to help Iraq cope with the effects of UN sanctions after the invasion Iraq Kuwait in 1990.

The program allowed Iraq to sell oil to buy humanitarian needs. The lawsuit says that billions of dollars lost "and had to be transferred directly to food, medicines and other humanitarian goods are supposed to reach the Iraqi people." Among the individuals who were mentioned in the lawsuit Oscar White and David Chalmers senior Texas oil men who admitted paying millions of dollars in commissions to Saddam Hussein's regime. However, a commission of inquiry charged by the United Nations and led by Chairman of the Board of former U.S. Federal Reserve Paul Volcker concluded that the program spoilt 2200 companies from 66 States paid 1.8 billion dollars of commissions to officials Iraqis to win the supply of transactions. The lawsuit comes in the wake of criminal investigations in the U.S. program resulted in the convictions of individuals whom White and Chalmers and the oil companies cited in the lawsuit, including Chevron, which has agreed to pay $ 30 million to settle the matter. Was not immediately contact most of the companies listed in lawsuit For comment.

The lawsuit said that the defendants violated the laws of blackmail America, including the fraud through mail and telegraph, money laundering and accused the Chevron oil company, Atul Swiss also betraying the secretariat.

Translated version of http://www.non14.com/display.php?id=2021

Investors in Iraq need to be patient

Iraq has the third largest conventional oil reserves in the world, but is not even in the top 10 oil-producing countries. The strength of the government’s desire to increase output at once is understandable. But it should not put that aim ahead of obtaining a broad political consensus on how to develop and distribute the country’s oil wealth.

After 30 years of national ownership, Iraq’s government is rightly looking to bring in expertise from abroad to help increase output. Yesterday, it announced it would complete contracts with foreign companies for the development of currently active oilfields by early next year. It plans to increase output from 2.5m barrels per day today to 4.5m barrels per day by 2013.

These steps follow improvements in security. Increased American troop numbers, a US-funded fight-back by Sunnis against al-Qaeda and the Iraqi counter-insurgency operation in the south have stemmed the slide into civil war. However, that progress is reversible. The government’s first priority should be to make sure it is not reversed. The process of developing Iraq’s oil infrastructure, therefore, must be handled with great care.

Relations between Iraq’s regions are already tense. The Kurdish regional government is already wrangling with the central government over the legality of existing local oil contracts. Agreement has to be reached on how oil revenues are to be shared, before development of the oilfields begins. Otherwise, the tensions could pull the country apart. The draft oil law seems an acceptable model. But it needs to be passed by parliament.

Most Iraqis assume the US-led invasion was a ploy to allow the coalition to grab their oil reserves. It is also essential, therefore, that the bidding for new contracts is transparent. The Iraqis need the expertise of big oil companies. But if US businesses win contracts in opaque procedures, the flames of suspicion will burn more fiercely.

Iraq’s government is under great pressure to increase output as quickly as possible. However, it is already unlikely that it will be able to meet the timetable set out this week. Even relatively simple contracts with foreign groups to provide technical support to the Iraqi oil industry – due for completion in June – are still to be finalised.

Investors must be patient. Transparent tendering processes and a broad consensus on the distribution of oil revenues are essential to Iraq’s political stability. Iraq’s government cannot afford to take any risks on this. Doing so would not be in the interests of Iraq, the region or, indeed, foreign investors.

FT.com / Comment & analysis / Editorial comment - Investors in Iraq need to be patient

Parliament: the government allowed the Kurdistan region of Iraq oil contracts and signing statements Shahrastani "unrealistic"

A member of the Committee on the oil and gas in the House of Representatives deputy Iraqi Islamic Virtue Party Jabir Khalifa Jaber on the existence of a letter signed on 31/5/2007 between the Iraqi government, the Kurdistan Regional Government of Iraq allow the territory to sign oil contracts in the absence of ratification of the oil and gas, terming the statements Shahrastani as "unrealistic, and aims to improve the image of the ministry and the minister."

Jaber explained in an interview with "Uzmatik", on Monday evening, said, "The Minister of resources and mineral wealth and natural resources of the Kurdistan Regional Government various hormone, briefed the Commission on oil and gas this letter signed by the Kurdistan region and the Iraqi government, during a visit by the Committee to the region during the weeks Past. "

Jaber added that "hormone, briefed the Commission on oil and gas, a copy of the letter and not origin, as the Minister stressed that the original copy signed by Iraqi President Jalal Talabani, Iraqi Prime Minister Nuri al-Maliki and Iraqi Oil Minister Hussein Shahrastani, as well as the signing of the Kurdistan Regional Government Chairman Nnigervan Barzani. "

He Jaber said, "This letter shows that the province has signed oil contracts with international companies, with the consent of the Iraqi central government."

He described member of the Committee on the oil and gas in the House of Representatives Iraqi statements and Iraqi Oil Minister Hussein Shahrastani, on Monday, about the illegality of oil contracts signed by the province with foreign companies, as "unrealistic", adding that it "aims to improve the image of the ministry and the minister," as he put it .

Jaber called for "the necessity of expediting the adoption of the law of oil and gas by the Iraqi parliament, to find a common orientation in all parts of Iraq, guaranteeing the signing of oil contracts contribute to the development of the Iraqi economy."

It is noteworthy that the law of oil and gas has seen extensive arguments between various Iraqi factions and parties involved, and non-participation in the political process, because the law contain clauses allowing the regions and governorates not associated with the territory, have signed contracts for investment of oil without reference to the centre, which it considered many of the political forces Step to divide Iraq.

Translated version of http://iraqalaan.com/bm/Politics/3352.shtml