Archive News - Iraqi Dinar Think Tank - 06/05/09 - 04/09/09

Central: no change in monetary policy and limit the audit procedures for the sale of cash

After seeing the dollar exchange rate volatility against the Iraqi dinar in the local market over the past few days, he urged the Central Bank of the economic change its policy towards the exchange rate, said the bank was seeking to reduce the installation and audit procedures.

The academic and the Chairman of the Economic Section of the Institute of Mustansiriya studies, Dr. Abdul Rahman Al-Najm al-Mashhadani told (Voices of Iraq) said that what happened during the last few were "following the reduction of the central bank's monetary Bioath banks in foreign currency auction," he said, "the spokesman said legal means to smuggle foreign currency abroad by import without external conversion, "urging the Central Bank to" codify and restrict such transfers to import goods and commodities. "

The U.S. dollar has seen prices in the local market in Iraq fluctuated markedly over the last week and the beginning of this week, as the price rose in Baghdad, Basra and Arbil, from 1170 dinars to the dollar to 1250 dinars to 1224 dinars Baghdad and in Erbil and Basra, and then returned in the fall of Baghdad 1223 and 1221 in Arbil, and it is conservative to the price of 1224 in Basra.

This was done amid reports of lack of liquidity due to reduced sales in dollars the central bank, by the requirement to provide additional gripping of the private banks, which rely on the central auction to provide customers the dollar, which has led the Bantrzi to issue a statement on Sunday that he is continuing to provide the banks with the dollar limits According to the rate of exchange accepted.

He said al-Mashhadani, "Many economists believe the dollar price of living is lower than it should be a 1500 dinars per dollar," he expressed the belief that "What happened in the past few days is the beginning of the Central Labor to raise the exchange rate," adding that "the separation rates between the central and the local market and called the parallel rate is incorrect because the real price, which must be the currency."

He pointed out that "the current economic needs, because the future of Iraq policy to encourage the investment industry, agriculture, local" and therefore in the light of this low price "seems expensive for domestic goods is aimed at the export of goods to Iraq and abroad, especially in the agricultural sector."

Otherwise it considers punitive Hamid Chairman of the Federation of international business, said "the Central Bank of the decision with regard to monetary policy, should maintain their independence without the intervention of any sector and the many criticisms directed against him," adding that "the stability of the currency exchange is one of the most important needs of the Iraqi market Currently, due to the fact that the Iraqi economy is backward in the various sectors of industrial, agricultural and tourism, "and who wants to find an alternative policy," the first wheel to move the Iraqi economy and the restructuring because it only means that would make the currency stable in the case of change of the central monetary policy."

In spite of the view that the punitive "The auction may be the currency in which the smuggling of currency," but say to him, told Voices of Iraq (VOI) said that "It's hard to change that policy now, because its replacement is not available, and the proof that a simple break the sale of cash led to confusion in the the local market."

In turn, denied the appearance of the central bank adviser, Mohamed Saleh, told Voices of Iraq (VOI) that there should be a "change in policy towards the Central Bank of Astaqraralamlp on the basis of the exchange rate of 1170 dinars per dollar," saying he was "logical and price contracts based upon positive expectations within the community and our current policy is to defend for this price and thus the leadership of the market and not vice versa."

He added that the central "faced strong criticism of formal and informal, as the exchange rate is excessive and called for the lifting of many of the exchange rate, considering that the auction as a means of capital flight."

The benefit of "an institution we must focus on the response to these charges and we have begun to take measures for an audit trail by which nature is red tape, and there have been cases of rejection of the requests if there is a lack of official papers submitted by the banks," referring to what happened, "led to the launch However, given the rumors true that there are signals about monetary policy change by us and this is not true, "he said," This experience made clear the importance of exchange rate stability for the Iraqi market."

On the severe shortage of cash and the sale has not been affected by the sale remittances, saying, "The hawala sales network within the international banking Phil no problem being under international control because we are interested in the application of the law of money laundering and crime," adding that "risk comes from the sale of operations through cash or cash, which led to the emergence of artificial price bubble in the local market, "stressing that the central" has tended to reduce the audit procedures that have been taken to avoid impeding the process of selling and buying, and demand cash. "

http://209.85.227.132/translate_c?hl...usD9-tpMhqBvcQ

Secretariat of the Council of Ministers demands by providing them with information about the financial irregularities that occurred during the period of the work of Bremer

Issued the General Secretariat of the Council of Ministers directive to ministries and official institutions all require the need to provide them with all the information available for any abuses occurred during the term of the civil administrator Paul Bremer on Iraqi funds deposited in the Development Fund for Iraq, which have been spent for the implementation of projects in Iraq, emerged after the manipulation or the implementation of projects, fictitious or otherwise made to the specifications in order to be able to prosecute the actors and the companies that caused the waste of funds in Iraq.

This directive comes after the delivery of the competent authorities in the Iraqi government information from the Secretariat of the International Advisory and Monitoring reports issuing a U.S. federal appeals court decision to include the right to proceedings against persons who manage the money on Iraq, even under the management of the civil administrator.

http://209.85.229.132/translate_c?hl...2lRC6JwTi7Ot8Q

Exports offer hope in Iraq oil row

The Kurdistan regional government has told oil companies working in the northern Iraqi province that they will be able to export oil using Iraq's main pipeline as early as next month, an apparent breakthrough in a longrunning dispute about sharing Iraq's oil wealth. The oil ministry in Baghdad confirmed that crude extracted from some fields in Kurdistan could be exported. There remained significant confusion, however, and analysts warned this could be yet another false start. "We are absolutely certain oil will flow on [June 1]," Ashti Hawrami, the KRG's oil minister, said.

"Iraq desperately needs the oil revenues, and no one can deny that. The rest that needs to be worked out is just rough edges - I am talking about the oil law, the constitution, the legalities."

Oil has long been the subject of dispute between the Kurdish regional and Baghdad central governments. This has hindered passage of a national hydrocarbons law outlining foreign participation in the energy sector.

Any deal between the KRG and Baghdad would allow companies such as DNO, the small Norwegian oil producer, and Addax, of Switzerland, to pipe rather than truck out their oil. Addax said it had been told formally it could begin sending crude from the Taq Taq field through the main northern pipeline to the Turkish port of Ceyhan. Taq Taq, which can produce 40,000 barrels of oil a day, is expected eventually to produce 180,000 barrels a day. DNO, which can produce 50,000b/d from its Tawke field, received similar notice. Its shares rallied almost 20 per cent on the news.

In Baghdad, Asim Jihad, the oil ministry spokesman, said the oil would be exported once northern fields were connected to the national export pipelines.

"These quantities will increase Iraqi export capacity and all revenues will go to state coffers. The ministry supports any steps to increase Iraqi output and export levels," Mr Jihad said.

Iraq has the world's third-largest proven oil reserves, at 115bn barrels. The volumes set to be exported through the northern pipeline represent less than 5 per cent of Iraq's total output. But Baghdad has made significant progress in luring big oil companies, such as BP and Royal Dutch Shell, back to Iraq to help boost its ailing fields potential production by 1.6m b/d.

http://www.zawya.com/Story.cfm/sidFT...aq%20oil%20row

Sustained investments, $70 oil needed to rescue Iraq

Oil priced at $70 a barrel and sustained investments into oil projects are essential to extricate Iraq out of its budget and current account deficits, an economist who studied the Iraqi oil markets said.

Turker Hamzaoglu, an economist with financial advisory firm Merrill Lynch, said that considering the prevailing oil price of $58 a barrel and the Iraqi production capacity, it will take two to three years for the Iraqi economy to completely recover. Brent crude for August delivery was priced $57.85 a barrel yesterday.

"A rise in price of oil combined with an enhancement in production capacity is essential for Iraq to emerge out of its economic woes. The country was able to build good foreign exchange reserves over the past two years when oil was priced high. The reserves could build up again when new production capacity comes online," Hamzaoglu told Emirates Business.

Baghdad plans to boost the country's crude production capacity to 4.5 million barrels per day in the next three years from 2.4 million bpd now. Though a founding member of Opec, the country is not restricted by Opec production limitations.

Even though Iraq would record a GDP growth of seven per cent in 2009, its budget and current account balance will swing deep into deficits of 10 per cent and 17 per cent of GDP in 2009, Hamzaoglu said. He said the oil rich nation will still suffer because of prevailing low oil prices and will need the support from IMF to bail itself out this year.

"Iraq's economy is still heavily dominated by oil. Hence, all those huge surpluses in current account and budget balances that had been feeding into reserve accumulation have been reversed with plummeting oil prices.

"Iraq has ample reserves, but an IMF agreement supported by generous funding still seems likely," Hamzaoglu said in his new study.

Hamzaoglu's views come close on the heels of Iraq calling for expressions of interest (EoIs) for oil and gas fields with proven reserves of 44 billion barrels of oil and 44 trillion cubic feet of proven gas reserves.

Iraq's ministry of oil recently clarified a number of points in the final contract model to allay fears about investments that had risen after the contract was first made public. Some 35 companies had submitted bids for the projects as per the latest reports.

The country sits on 115 billion barrels of proven oil reserves, the third-largest in the world behind Saudi Arabia and Iran.

According to Energy Information Administration (EIA), the cluster of super-giant fields (more than five billion barrels reserves) of south-eastern Iraq forms the largest known concentration of such fields in the world and accounts for 70-80 per cent of the country's proven oil reserves.

The country has the lowest reserve-to-production ratio of the major oil producing countries, suggesting huge upside potential once the aged and underinvested industry revives with the participation of international oil companies.

http://www.business24-7.ae/articles/...55d019e0e.aspx

Finance confirms its readiness to settle the debts of Iraq for the benefit of Egypt

The Ministry of Finance that the Iraqi government expressed its willingness to settle the debt of Iraq to Egypt, which are government debts and debts to Egyptian companies as well as the benefits of Egyptian workers.

The Ministry of Finance, said the Egyptian side insisting on its part to continue to solve one side only of this debt (the Egyptian labor dues) at the time that Iraq claims to a comprehensive settlement of the total debt.

As the Ministry of Finance and the interests of the Republic of Iraq to the brotherly relationship between the two countries is continuously seeking to resolve the matter fairly for both parties.

The ministry said the Iraqi government hoped at the same time that the brothers in Egypt, re-consider their position on this issue and move towards a comprehensive settlement of the debt stock.

The Egyptian press reported some very recent paper (Egypt Today), as well as newspaper (Al-Ahram) articles and news related to the position of Egypt from the Egyptian debt settlement of the country, including in particular (dues remittances of Egyptian workers) and the so-called remittances yellow.

http://209.85.229.132/translate_c?hl...JFlt7LCRJowR0w

Crude oil exceeds $ 59 for up to the highest level since 6 months

Oil climbed to reach the highest level in six months, exceeding the level of 59 dollars a barrel, and derived some support from the weak dollar.

The U.S. crude price of $ 1.10, at 59.60 dollars a barrel. In the earlier record of 59.68 dollars a barrel, its highest level since last November. And the price of Brent crude was 88 cents to 58.36 dollars a barrel.

Said Tony Machasek from Bach Komudz "the U.S. dollar slightly weaker than the price of oil may give a measure of the force."

The economic downturn of the global decline in oil prices from record highs above 147 dollars a barrel in July.

However, prices rebounded this year, due in part to the high prices of global equities, which raised difficult to believe that the States may have exceeded the worst of the recession.

http://209.85.229.132/translate_c?hl...naMgnO3S-u_9RA

Inflation rate down by 4.4% in March - COSIT

The inflation rate in Iraq went down by 4.4 percent in March 2009 compared to Feb. of the same year, and by 3.1 percent compared to March 2008, according to a release issued on Tuesday by the Iraqi Central Organization for Statistics and Information Technology (COSIT).

"The inflation report for March 2009 was prepared based on field collection of data," said the release that was received by Aswat al-Iraq news agency.

On March 23, 2009, the COSIT indicated that inflation rate of Feb. 2009 went down by 0.9 percent compared to Jan. of the same year.

http://www.zawya.com/Story.cfm/sidZA...5%20In%20March

Cork Telecom is seeking to expand its network in Iraq

Cork Telecom has announced a three companies licensed to m.obile phone in Iraq, it was strongly enter the draft to expand the coverage of its network at the national level in Iraq, through the investment of $ 100 million in the second phase of expansion.

The press release that the future plans of Cork Telecom aims to increase its subscriber base to 4 million users in addition to invest some 300 million dollars over the next few years, to increase the capacity of the network to accommodate more than two million subscribers, and to provide coverage on a national scale destruction.

The statement disclosed that the company will lead role E.ricsson main supplier of the equipment and install systems in the expansion plans will provide coverage and capacity in the central and southern regions of Iraq. The services will include the provision of focal points of high-capacity microwave to serve as the backbone of the link between the major areas in Iraq.

In the same vein, President and Chief E.xecutive Officer of Telecom Cork Saravan Mustafa said «Cork Telecom Iraqi telecommunications company which is 100 percent committed to the rapid growth of the national network and expansion and will continue to invest heavily to implement expansion plans, with a focus on providing high-quality coverage of the service, and with our partner E.ricsson We will have to have the technical basis to supply our customers the best m.obile phone network in Iraq ».

For his part, said project manager at E.ricsson Aseff peace: «we have commitment to and partnership in the long term strategy in Iraq with Cork Telecom has over the past five years and we are fully committed to make it a success».

http://209.85.229.132/translate_c?hl...WJ_mO8pkJzKTAg

U.S. company to drill wells in Maysan

The cabinet has approved the contract with an American company for the drilling and completion (20) oil wells in the field of Albozorkan in the province of Maysan, the total amount of $ (224.4) million and the implementation period of standing (24) months. He said government spokesman Ali al-Dabbagh said in a press statement the Council of Ministers also agreed to establish diplomatic relations with the State of El Salvador, and to propose a draft law of the national information infrastructure.

The statement said al-Dabbagh said he was also approved a draft law for the abolition of Article (43) of the Code of Federal budget in 2009 and re-examine the issue when preparing the federal budget for 2010.

http://209.85.229.132/translate_c?hl...vQkXkdCgLQHRPw

United Arab Emirates have indicated their willingness to develop and rehabilitate the Iraqi oil installations

Expressed the UAE's readiness to engage corporations in competition with scientific companies to invest in oil fields in Iraq.

The spokesman said the oil ministry's media Assem Jihad said the Ambassador of United Arab Emirates Sheikh Abdullah Ibrahim Azwai of his country was ready to compete with international companies for the development and rehabilitation of oil installations.

Jihad said that Oil Minister Hussain al-Shahristani, the UAE welcomed the desire of our sister companies to enter Iraq.

He pointed out that the ministry welcomes any effort of the brothers contributed to the strengthening of bilateral relations between the two countries.

The minister noted that the Ministry adopt a policy of openness and strengthening of relations with all countries of the world and in particular the fraternal countries, because Iraq is keen on the economic integration of neighboring countries.

http://209.85.229.132/translate_c?hl..._6HHBUF6y3NbSw

Sharp drop on demand for dollar on Wednesday

Demand for the dollar went down in the Central Bank of Iraq (CBI) auction on Wednesday, reaching $105.660 compared to $222.380 million in the previous session.

“The demand hit $20.040 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $85.620 million in foreign transfers outside the country, covered by the bank at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 17 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=113071

Parliamentary: the impossibility of setting up a fund without the approval of the law of the generations of oil and gas

Expressed member of the Economic Committee in the House of Representatives full Albulada the difficulty of the establishment of the Fund without approval of the law of the generations of oil and gas. Noting that the fund was established to separate part of the law can not be Tdzoth.

The Albulada told the independent press (Iba) on Thursday said that the Fund establishes a national body to manage the wealth of citizens to establish a guarantee for the next generation of Iraq, a step towards the achievement of economic growth and raise the income level of the Iraqi citizen as well as being the preservation of wealth.

Albulada and demanded the prime minister to speed up sending the revised version of the oil and gas law to the House of Representatives in order to vote and approval. Recognizing the existence of political enticements and the many diverging views, a copy of the law by some groups - according to her.

It should be noted that the draft oil and gas law contains an entire chapter on the venture capital fund ever.

The idea of the generations, based on the allocation of a proportion of the annual income of the State be placed in the Fund in order to provide sufficient resources for future generations in the case of the depletion of oil or with the continuation, as well as to diversify sources of income by building structures of foreign assets contribute to the provision of investment returns for the benefit of future generations.

In the view of watchers that the idea of the generations seem attractive to many people, but on the basis of defending the case in oil-rich countries, where the Fund was a strategic option in dealing with crises in many countries.

http://209.85.229.132/translate_c?hl...Fhbp0B3A-vURFQ

Iraq seeks 2-year solution to power crisis

The Iraqi minister of electricity, Kareem Waheed, on Wednesday revealed plans by his ministry to resolve the country's electricity problem within a matter of two years.

"Several electricity generating projects will be implemented this summer and throughout 2010 and 2011," the minister told Aswat al-Iraq news agency on the sidelines of a celebration held to lay the foundation stone for al-Kahlaa generating station in southern Amara city.

"These projects will increase power production, thus solving the electricity crisis in all Iraqi provinces," the minister added.

Yesterday, Iraq's production of electricity reached its top level of 6,000 megawatts, including 1,900 megawatts in Baghdad.

Amara, the capital city of Missan province, lies 390 km south of Baghdad.

Power supplies in Iraq have been sporadic since the second Gulf War when the US-led coalition destroyed the electricity infrastructure during operations to drive Saddam Hussein's regime out of neighboring Kuwait. The shortages became even worse in the aftermath of the 2003 U.S.-led invasion because of insurgent sabotage, rising demand and fuel shortages.

http://www.zawya.com/Story.cfm/sidZA...Power%20Crisis

Maliki will meet the President of the Russian oil producers and discusses the possibility of the return of Russian companies

Met Prime Minister Nuri al-Maliki in Baghdad Thursday, the President of the Russian oil producers Cfrank Yuri, who is visiting Iraq.

The source said the prime minister's office told reporters that the Russian official was escorted with a delegation of representatives of Russian oil companies to discuss the issue of investment in Iraqi oil fields that had been disrupted after 2003, which it did during the visit of Maliki's recent visit to Moscow last month.

He has held talks with Russian President Dmitry Medvedev and Prime Minister Vladimir Putin during his visit to Moscow were discussing ways to develop relations between the two countries and the return of Russian companies to work in the fields of energy, reconstruction and bilateral cooperation in international and regional areas, particularly with regard to the situation in the Gulf region and the settlement of the conflict in the Middle East.

The Russian side hopes that the Iraqi government of the oil contracts concluded by the Russian companies as LUKoil with the former Iraqi regime for oil exploration in the West Qurna field, which said the current government to cancel.

http://209.85.229.132/translate_c?hl...J77rCw2rViAUpA

Who is not corrupt in Iraq?

It is not wise and fair to single out the Ministry of Trade as an example of how corruptive Iraqi ministries and government have become.

Corruption is a reality in our wounded country. It is more dangerous to the future of Iraq than terrorism which has been tearing the country and its people apart.

It has taken so long to embark on any serious anti-corruption measures. For this reason, corruption has spread like an infectious disease and is easily discernible at all government ranks.

The newly built interests that have emerged since the U.S. invasion and the division of the country and government along sectarian, ethnic and factional lines stall any serious effort to fight corruption.

It is the responsibility of top officials such as ministers and director-generals to make sure that their institutions are free from corruption. To blame it always on low-ranking officials does not vindicate them.

We all know corruption is endemic in Iraq and we all know that no senior government official has ever taken tough measures against it.

The issue of the Ministry of Trade and corruption should not be left to media and statements by government officials. We need an independent judicial investigation to examine not only the Ministry of Trade but all other institutions which allegedly are mired in corruption.

If the investigation proves the existence of corruption in the Ministry of Trade, then the minister must resign.

If it is proven that the minister himself is involved, that will be a very serious matter. He must face punishment in the light of standing laws and regulations.

If we believe as we claim that we want to be a state of law and order, then let law and order rule. Anarchy rules when everyone becomes the judge, the lawyer and the police at the same time.

http://www.azzaman.com/english/index...05-14\kurd.htm

Slight surge in dollar sales Thursday

Demand for the dollar saw a slight increase in the Central Bank of Iraq (CBI) auction on Thursday, reaching $124.259 million compared to in the previous session.

“The demand hit $26.740 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $97.555 million in foreign transfers outside the country, covered by the bank at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 16 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=113161

Europe's quest to sign a long-term agreement with Iraq in the field of gas

A new Los Angeles Times Los Angeles Times that the European Union will try to at a meeting on Friday, the pressure on a number of countries, including Iraq To enter into treaties with the long-term for the processing of natural gas.

The newspaper said in a report published, "The European Union will press countries, eight of the southern neighbor, in addition to Iraq and Egypt, to join the long-term partnership that will support the income of natural gas over the coming years, as compared to Western Europe to provide a stable supply of natural gas ".

The newspaper said that at a meeting in Prague with the leaders of Azerbaijan, Georgia, Turkey, Turkmenistan, Uzbekistan, Kazakhstan, Egypt, Iraq, to pay towards the European Union's commitment to expand a broad network of gas pipeline from east to west, spanning thousands of kilometers.

The newspaper said the United States and Russia would attend the meeting as observers.

Russia was the last winter had to cut off gas to western Europe, a result of commercialization of the gas dispute between Russia and Ukraine, which concern the European Union project to pump Russian gas south.

The newspaper said the draft of the declaration to be issued after a meeting on Friday called for linking the EU gas-thirsty gas-rich country bordering the Caspian Sea and beyond to "the benefit of all parties." The draft requests from the Governments of those countries, to comply with the long-term and beneficial business resolution of all problems that hinder the project.

http://209.85.229.132/translate_c?hl...HD9UGqKaJe2nzw

Economic analyst for NOAA: pumping a fixed dollar amount of one of the factors that keep the Iraqi dinar is stable

Said economic analyst Khaled Haidar said the most important factors that keep the Iraqi dinar is stable at the present time is for the central bank to pump a certain and fixed amounts of U.S. dollar.

Haider said in a statement to Radio NOUAN the rise of the dollar last week was due to the failure of the central pump the same volume that was dumped because of the loan or the government.

http://209.85.227.132/translate_c?hl...XFEeJwhLXk-bkQ

Iraq used for its reserve of foreign currency if oil prices do not rise

He's oil minister Hussein Shahristani said Baghdad may have to use the reserves of foreign currency and loans if oil prices do not rise.

He said al-Shahristani told Reuters that the Organization of Petroleum Exporting Countries (OPEC) is able to maintain current oil production levels unchanged, provided that oil prices remain strong.

He felt that if (OPEC) that there is a surplus in supply to world oil markets would have to consider other options.

http://209.85.227.132/translate_c?hl...TyF_vovWHQ5H8g

Al-Azzawi (News): can not export the oil province of Kurdistan without the approval of the central government

The deputy, Rashid al-Azzawi, the Accordance Front, said the issue of the Kurdistan region to export oil without the approval of the central government has not been raised in the House of Representatives to discuss the remarks, noting that the Kurdish side of this particular paper may be used by the pressure of the Territory.

He told Al-Azzawi (the news agency reported): "I do not think the future of the region export oil in isolation from the central government, because it is a fateful, because oil is the people's livelihood and the question of export solutions exist in the Constitution, considering that oil and gas is the property of the people and acting on behalf of the people is the central government of the Iraqi oil ministry," he said:" I am confident that I can not make the region of Kurdistan and one drop of oil, because a lot of damage to the Government of Alaqilm before the damage to the central government today as the province of Kurdistan depends entirely on the proportion of 17% of the budget given by the Center This is threatening the ratio given by the Center to the region."

He said, the representative of the Accordance Front, that it "can not be sufficient Kurdistan region 200 a barrel because the region's share of more than 200 thousand barrels per day in addition to the neighboring countries that do not allow this because the political situation of regional and international allowed to act in the Kurdistan region so that the disposal."

http://209.85.227.132/translate_c?hl...f-bKOvxLrfldVw

Iraq oil showdown
In an email to Iraq Oil Report, responding to a recent article about the oil dispute with Oil Minister Hussain al-Shahristani, the top oil official in the Kurdistan region issues a written assault in an already tense war of words.

The Kurdistan Regional Government has signed two dozen contracts with international oil companies to explore for and produce oil. It cites the 2005 Constitution as giving it such authority. Two projects are ready to begin export, which would be added and needed income, but wrapped into a larger dispute over authority and revenue.

But the KRG’s moves are controversial, despite their technical success. Iraq has yet to determine crucial issues: to what extent foreign oil companies will be allowed into Iraq’s still nominally nationalized oil sector and how to rebuild, if at all, a leading national oil sector. The Ministry of Oil in Baghdad has signed half dozen agreements in the past six months and is readying deals both directly negotiated and two rounds of bidding for oil and gas fields, all aimed at increasing output. Shahristani says the 2005 Constitution maintains the oil strategy as a right of the state, and claims KRG deals are a unilateral usurpation of such authority.

While both Shahristani and Ashti Hawrami, the KRG minister, move forward with their projects, this new showdown over exports from two fields in the KRG highlights a third crucial issue that transcends oil: in the “new” Iraq, how much authority does Baghdad wield?

“If Dr. Shahristani is calling actions taken under the acts of the Kurdistan Parliament to be “illegal and illegitimate,” Hawrami writes to Iraq Oil Report, “then he is acting unconstitutionally and as a member of the government nominated in the name of that constitution he should rethink his position again.”

He goes on to challenge directly Shahristani: “If he disagrees with our contracts or he really thinks that they are illegal, then go and do something about it.”

“Finally, before he has said many times that we will never be permitted to export, so what has happened to make him change his mind now? The answer is clear that he has no authority and he cannot do anything to prevent it, hence agreeing with the decision made by the KRG,” he concludes, referring to two alleged letters from the North Oil Co. giving the exports the green light.

Below is the response, unedited, in full:

"I am responding to the article appeared on the Iraq Oil Report stating that [Shahristani called the production-sharing agreements (PSAs) between the KRG and IOCs “illegal and illegitimate”]. In response to that I would like to offer the following:

1. Dr. Shahristani is stating a personal view only, his views do not reflect the views of the Federal Government, or the Federal Parliament or the Federal Energy Committee of the Parliament. Indeed, his views are not even shared by most of his own Oil Ministry staff.

2. Dr. Shahristani’s authority in the Kurdistan Region is not recognized, nether constitutionally nor in practice, and he is not in a position to influence what we are legally and constitutional doing.

3. His old slogan of “illegal and illegitimate” is becoming a very boring. This message and his “blackmail list” of companies are unproductive and embarrassing for Iraq as a country. No one is paying any attention about what he saying.

4. We are acting according to the laws of the Kurdistan Region, passed by the constitutionally recognized Regional Parliament. The laws of KRG authorized us to sign contracts and develop the regional petroleum resources for the benefit of all of Iraq. If Dr. Shahristani is calling actions taken under the acts of the Kurdistan Parliament to be “illegal and illegitimate”, then he is acting unconstitutionally and as a member of the government nominated in the name of that constitution he should rethink his position again.

5. He is politicizing the situation for personal reasons, and his attacks on KRG’s achievements are aimed at shifting the attention away from his own Ministry’s poor performances and failures.

6. Perhaps he can explain why MoO has failed to increase the production? Why MoO has not been able to develop at least one of many readily available giant oil discoveries to arrest the decline despite $8 Billion funding made available to him? And why MoO continues to flair all the associated gas valued at least at $10 billion per year?

7. If he disagree with our contracts or he really thinks that they are illegal, then go and do something about it. There is a constitutional process that he should adopt to solve the problem, rather that staging media events to repeat his boring political message, which is harming Iraq.

8. Finally, before he has said many times that we will never be permitted to export, so what has happened to make him change his mind now? The answer is clear that he has no authority and he cannot do anything to prevent it, hence agreeing with the decision made by the KRG. The backdated letter sent to us on 10th May (2 days after our announcement) confirming agreement to the export are appreciated. For now that is what matters to us, the rest is irritation and will go away soon.

Regards

Ashti Hawrami"

http://www.iraqoilreport.com/the-biz...showdown/1474/

Interesting,

The Kurdistan region is decades ahead of Bagdad in all areas of economical factors, including the oil contracts they have been completing for past couple years while Bagdad spins its wheels and does nothing but talk, no actions. Bagdad along with administration should be embarassed, and they should leave the Kurds alone to continue with progress on developing oil production and exporting for the good of all of Iraq.

Success to all, Mike

Samarai meets oil & gas committee & Deputy Minister of Oil to discuss oil & gas bill

Iraqi Parliament Speaker Iyad al-Samarai met with the committee of oil and gas, Iraqi Deputy Minister of Oil and a number of the ministry’s director generals to set a scheduled time aiming to discuss the draft law of oil and gas in the parliament. :party:

During the meeting, Samarai saw necessary that the Iraqi government should be bound by a fixed time to complete all necessary procedures about the draft law of oil and gas during that time. Later, it should send it to the parliament for discussion and then adoption. :woohoo: :woohoo:

Delay in passing the Law of Oil and Gas has posed dire consequences for the oil sector since several large global firms are not ready to implement investment projects due to lack of the law, he concluded. :blush: :mad3:

http://pukmedia.com/english/index.ph...10978&Itemid=1

Alsabaah

Samurai proposed time limit for establishing the law of oil and gas

The President of the House of Representatives, Dr. Iyad al-Samarrai with the oil and gas in the Parliament and the Under-Secretary of the Ministry of Petroleum and a number of general managers in the Ministry draft oil and gas law and the obstacles that stand in front.

A statement of the Samurai emphasized the need to take the initiative to the House of Representatives not to lose the opportunity to the development of the oil sector, adding that "the best solution is to identify the time period in which the government would be obliged to submit all the supplements approved by the Council of Ministers to become law, the draft integrated and ready for display the Council for approval. "Samurai also discussed according to the statement received by" morning, "a copy of, a number of issues related to Iraq's oil policy and the means developed to achieve the highest revenues of the State.

On the other hand, discussed the Foreign Relations Committee in the House of Representatives during a meeting held yesterday file Kuwaiti reparations and other issues. A statement received "morning," a copy of which was that "the Foreign Relations Committee held a meeting chaired by Sheikh Hamam Hamoudi, Chairman of the Committee, the participation of the Undersecretary of the Ministry of Foreign Affairs, Lubaid Abbawi to discuss a range of issues in the forefront of the file of Kuwaiti reparations." and that the presence of the Undersecretary of the Ministry of The Foreign Affairs Committee on the proposal to explore the opinion of the Ministry and the Government's key themes, including agreements to Iraq intends to join the Iraqi asylum law in force and the position of Baghdad from Kuwait and file compensation policy of the Government of the American people file complaints against the country. "The statement noted that" were also discussed, Security Council Resolution No. (487) to Iraq to compensate for losses caused by Israeli air raids strike the Iraqi nuclear reactor in 1981.

The "morning" has raised the issue of compensation from Israel, in its issue of February 11 last, which quoted informed sources as saying : that there is a campaign by the Alliance MP Mohammed Naji Mohammed collaboration with a number of MPs include seeking to give effect to the international resolution of the UN Security Council to obtain financial compensation, estimated at billions of dollars in Israel on its military offensive in July that the reactor, the reactor was not that of the previous regime but for the process of development.

http://209.85.227.132/translate_c?hl...VTBL8gvSjxsPPw

Olayan: the coming days will witness the announcement of a new political bloc

Deputy Chairman of the Board of Olayan behind national dialogue in Parliament that the next few days will witness the emergence of a political grouping of forces and personalities within and outside the political process in order to contest the next election.

Olayan said in an exclusive statement of the "morning" that "there are numerous contacts were underway with the participation of forces, whether in the political process or that had not been involved previously to contain a political bloc within the new national far from sectarianism, racism and sectarianism represents the various Iraqi Mkunathm and nationalities to participate in the forthcoming elections, the consolidated list of with different orientations, "as he put it. Olayan said that he" agreed with some of the actors in the political landscape in conjunction with the ongoing dialogues and discussions with many of the political forces and personalities of national and clan to join the new bloc, "indicating that" representing the main actors in this cluster is the National Dialogue Council and the reform and development (solution) and a group of scientists and intellectuals of Iraq and local formations Salahaddin and Kirkuk and the bloc led by the National Independent MP Nadim al-Jabiri, and the Iraqi national unity, in addition to others that hope joining the bloc."

Olayan said "discussions with the forces expected accession to the bloc's new in the final stages and will be announced during the next few lines have been developed after the work of the Block", pointing out that "The visit of former House Speaker Mahmoud al-Mashhadani and MP Nadim al-Jaberi comes to Cairo in the context of meetings with some opposition figures and parties for the purpose of attracting the new assembly and to prepare to go into the parliamentary elections in an active and influential."

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Shahristani: Iraq's Kurdish regional government responsible for oil contracts signed

Iraq's Oil Minister Hussain al-Shahristani said Friday that the Iraqi central government is not responsible for the contracts signed by the Ministry of natural resources in the Kurdistan Regional Government of Iraq with foreign companies. He pointed out that the latter agreed to assume the responsibility of the government in Baghdad to export oil in the region and its proceeds.

He said al-Shahristani told reporters on the sidelines of his participation in the work of the World Economic Forum at the Dead Sea, the export of Iraqi oil in the North must be made through the central government in Baghdad, according to export mechanisms accredited to it, and the Government of the Kurdistan region of Iraq and agreed to do so.

He added that the Minister of natural resources in the region declined to hand over oil revenues north of the central government and has to conclude contracts with international companies, without recourse to the central government, stressing that the latter has no right to do so.

The Kurdistan Regional Government of Iraq has signed more than a year ago to invest in contracts for oil and gas and international oil companies, and made amendments to old contracts.

Shahristani said the Iraqi government was put to the Government of Kurdistan, the idea of handing over the contracts with international companies for the central government for review and scrutiny, but the Territory Government had not responded to this argument, "and thus bears the responsibility for these contracts."

The government of Kurdistan, Iraq announced that it will be issued according to the laws governing the oil in the Iraqi Federal Constitution. The government says the Kurds in Baghdad said they do not have the right to enter into or sign contracts without obtaining approval from the central authority, but the Kurds have refused to do so.

It is noteworthy that the oil revenues constitute 90% of the income of the Iraqi government, which seeks to raise the level of production to rates before the U.S. invasion of Iraq in 2003. The Iraqi oil industry suffered from the weakness of foreign investment and the need for the development of oil fields and installations, which was also the target of attacks by insurgents. Because of the weakness of the production has not benefited much from the proceeds of Iraqi oil record levels reached in 2008 the price of the past, which sometimes amounted to $ 147 a barrel, before declining prices reached a rate of 60%.

And Iraq is a member of the Organization of Petroleum Exporting Countries (OPEC) and has the third largest oil reserves in the world at about 115 billion barrels, at least. :wink:

http://209.85.227.132/translate_c?hl...pW-g3xakVa6W2g

Iraqi oil minister rejects Kurdish oil plan

Iraq’s oil minister has stepped up a dispute with the country’s northern Kurdish region over control of the country’s oil resources, saying Baghdad would not pay foreign companies for their oil exports from autonomous Kurdistan.

Hussein Shahrestani said the Iraqi government was under no obligation to ensure that the companies were paid for oil sent through pipelines from Kurdistan into Iraq and then exported by the Iraqi government to international markets.

“If [the Kurdish oil minister] can get a dollar out of the [Iraqi finance] ministry, let him call me,” he told the Financial Times. http://www.investorsiraq.com/images/smilies/eek.gif

Ashti Hawrami, the Kurdistan Regional Government’s oil minister, said to the FT earlier this week that the Kurdish government has told oil companies working in the northern Iraqi province that they will be able to export oil using Iraq’s main pipeline as early as next month. His comments appeared to signal a breakthrough in a long-running dispute about sharing Iraq’s oil wealth.

The oil ministry in Baghdad confirmed that crude extracted from some fields in Kurdistan could be exported. The question that remained unanswered, however, was who would pay the oil companies operating in northern Iraq.

Mr Hawrami said DNO, a small Norwegian oil producer, and Switzerland’s Addax were given assurances by the KRG that they would be paid but whether the Kurdish government will be compensated for that by Baghdad is far from clear.

Mr Hawrami said talks with the finance ministry in Baghdad could produce an agreement, and suggested that Mr Shahrestani was the only government member who adamantly opposed any compensation.

The companies say they have been told they would be paid by the KRG regardless of whether it reaches a compromise with Baghdad.

But Mr Shahrestani’s comments appear designed to deter companies from further dealings with the KRG.

He said that contracts signed by the KRG with the oil companies were not recognised by the Iraqi government as a whole, not only his ministry. The KRG, he added, already receives 17 per cent of Iraq’s oil budget and should compensate the companies with these funds. The only other option for the KRG, he added, was to hand over the contracts to Baghdad.

Oil has been a main sticking point in a long-running dispute between the Kurdish regional and Baghdad central governments and this has prevented passage of a national hydrocarbons law that would outline foreign participation in the sector and how revenues should be shared between Iraq’s various regions.

But the permission to export an extra 100,000 barrels a day (as a start) was not the result of negotiations but rather an uncoordinated move that has done little to ease the bitterness between the two sides.

http://www.ft.com/cms/s/0/c25d9670-4...nclick_check=1

The Commission on oil and gas parliamentary accuses oil ministry to waive the Constitution

Member of the committee charged with oil and gas in the parliament, Ali Hussein, Blue, and the Oil Ministry to waive the Constitution not to be given any powers to the Kurdistan region in the management of its oil.

The MP for the Blue Kurdistan Alliance bloc that "the oil ministry did not want to give the powers of the Territories in the management of oil, but would like to manage the oil and the central dispute of the Constitution because there is a constitutional rule that refers to the laws can not be in violation of the Constitution."

The MP added that the Blue "paragraph of the oil and gas issues in the controversial constitutional amendments," he said, noting that "the Kurds see this issue from the standpoint of the constitutional and the other parties want to go and change the Constitution so that they remain confined to the center of all the authorities."

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Adviser to the Central Bank: The World is facing financial constraints and low Awaidalmozanp needs foreign currency

adviser said the Central Bank of Iraq's adherence to the bank in achieving its objectives as laid down in law and his call not to prejudice the cash reserve.

The appearance of Dr Mohamed Saleh told the independent press (Iba) said Saturday that reducing inflation and to maximize the purchasing power of the Iraqi dinar and the achievement of balance in the cash market, the necessities of an ongoing World Bank in its application and implementation in support of the national economy.

He explained that the preservation of and use of foreign reserves as the best in the face of market movements is the first concern of the monetary policy of the Central Bank of Iraq.

Saleh added that the successes achieved by the bank is facing major constraints forth down the first budget, the financial returns resulting from lower oil prices and the second is the continuation of the market to meet the needs of foreign currency and to meet the demand of the reserve available.

He rejected calls for the benefit of using the reserve to address the budget deficit because of the continuing decline in the price of a barrel of oil than expected in the general budget of Iraq. Returned as a criticism of human offset obligations within the foreign currency balance sheet of the bank.

He also called for the development of economic policy for the development of the productive sectors to enhance the budget and create additional revenues, along with oil revenues.

The Oil Minister Hussain al-Shahristani said yesterday that the government may be forced to use reserves of foreign currency and loans if they do not rise in oil prices.

http://www.ipairaq.com/index.php?nam...itics&id=11530

Shahristani asserts the possibility of ratification of the province of Kurdistan's oil contracts if they are in the interest of Iraq

Clearer and Oil Minister Hussain al-Shahristani, the oil revenues produced by oil contracts signed between Kurdistan and foreign oil companies will go to the central government treasury.

And al-Shahristani told reporters on the sidelines of the World Economic Conference held in Jordan that "the Kurdistan Regional Government has agreed to link the oil fields of national oil pipeline network heading to Turkey," adding that "companies that have entered into oil contracts with Kurdistan government to produce these binding contracts for the Ministry of Oil Official "The Minister of Oil," The Ministry has ratified it and that her grandmother is in the interest of Iraq."

http://209.85.229.132/translate_c?hl...tkas_dOa3Duqtg

Members of the Kurdistan Alliance: regime change in Iraq to the presidential result in the return of dictatorship

Against the background of the ideas proposed by Prime Minister Nuri al-Maliki that the presidential system of government is better than the parliamentary, members of the Kurdistan Alliance that regime change in Iraq to the presidential will lead to the return of dictatorship to Iraq again, while members of the Committee noted the legal that the adoption of a presidential system of government had been reluctant from the oversight role of the Parliament of the government institutions.

http://209.85.229.132/translate_c?hl...16ppCry6L1hqsg

Central faces a shortage of budget revenues

The Central Bank of Iraq adviser, Mohamed Saleh's adherence to the appearance of the bank in achieving the goals set forth in the law and his call not to prejudice the cash reserve. He said Saleh told the independent press (Iba) to reduce inflation and to maximize the purchasing power of the Iraqi dinar and the achievement of balance in the cash market, the necessities of an ongoing World Bank in its application and implementation in support of the national economy.

He explained that the preservation of and use of foreign reserves as the best in the face of market movements is the first concern of the monetary policy of the Central Bank of Iraq.

Saleh added that the successes achieved by the bank is facing major constraints is the first low budget, the financial returns resulting from lower oil prices and the second is the continuation of the market to meet the needs of foreign currency and to meet the demand of the reserve available.

He rejected calls for the benefit of using the reserve to address the budget deficit because of the continuing decline in the price of a barrel of oil than expected in the general budget of Iraq. Returned as a criticism of human offset obligations within the foreign currency balance sheet of the bank. He also called for the development of economic policy for the development of the productive sectors to enhance the budget and create additional revenues, along with oil revenues.

The Oil Minister Hussain al-Shahristani said yesterday that the government may be forced to use reserves of foreign currency and loans if oil prices do not rise.

http://209.85.227.132/translate_c?hl...Eqx9BPPoZeuzFQ

Iraqi parliament begins its campaign against corruption

Iraq's parliament have started to question the Minister of Trade of the files of corruption in the face of a hot Saturday in the parliament, said a member of the Integrity Committee, Rep. of the Iraqi bloc Nasseef the high number of MPs staged a signature campaign, demanding the lifting of immunity for some of their colleagues to allow the judiciary to legal accountability, and you come This campaign, one day after a letter to Prime Minister Nuri al-Maliki's speech in the province of Karbala, threatening what he called "Snakes frivolous" public funds, calculate the "difficult in the coming days," he said, adding that the authorities in the process of launching a campaign "aimed at wide and corrupt."

Said a member of the Committee Alenzahpnaibp high Nasseef that there are two in the parliament to lift the immunity, with the first claim of some deputies of the Group increased from members accused of terrorism Or support, as well as other charges related to corruption'dry and Mali, and noted that the other direction respect to the claim of some deputies in the bloc, which includes ministers accused of corruption and negligence claims as blocks to lift the immunity of some members of the Integrity Commission to question their claim of permanent minister as a kind of pressure on the Commission, A member of the Legal Committee on behalf of the Accordance Front spokesman Salim Abdullah, said that the form of a parliamentary ad hoc committee to consider the issue of lifting the immunity of deputies and there are fears that this will be the case and the paper put pressure on Parliament to prevent him from pursuing his work on the regulatory ministries and ministers for negligence in the performance. while a member of the Committee of integrity Iman Al Assadi in Parliament that 105 MPs had signed a petition to lift the immunity of deputies due to corruption and the campaign will continue until the completion of the quorum to be submitted to the Presidency of the parliament, referring to a legal summons to nine deputies from the different blocks requested the courts to waive their immunity.

The other hand, a member of the Committee for the parliamentary oil and gas, attempts are continuing to collect signatures in order to all and Oil Minister Hussain al-Shahristani, to the Parliament for the purpose of questioning's. Deputy Bayezid, the Kurdistan Alliance bloc, Hassan sad that "So far, 120 signatures were collected within the Parliament For the purpose of the investigation with the Oil Minister Hussain al-Shahristani at the failure of his ministry, "he said." If Committee was not convinced that will be with the Minister of Oil can by its replies to the Parliament And by a parliamentary no-confidence against him and remove him from office".

In the past few days intensified Iraqi newspapers published news of the corruption in the government, with dozens of published articles critical of the government daily Stalled in the implementation of service projects and the spread of Almnsopep and the phenomenon of nepotism and corruption rampant in the financial and governmental institutions, especially the Ministry of Commerce. It also condemned the political stands of some politicians and their insistence on making their loyalties to sectarian bloc, rather than loyalty to the country what is the protection of the corrupt.

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140 Iraqi lawmakers call for summoning the Iraqi oil minister into the Iraqi parliament

Iraqi lawmaker and Determiner of the gas and oil parliamentary committee Jabir Khalifa Jabir addressed a document to the presidency of the Iraqi parliament for summoning the Iraqi oil minister Hussein al-Shahristani into the Iraqi parliament, PUKmedia correspondent in bigheaded reported.

“The call came due to the deterioration of oil sector and mismanagement of oil in Iraq,” Jabir Khalifa Jabir told the reports in Baghdad on Saturday.

On his part, Iraqi lawmaker Ali Husain Balu said that 140 Iraqi lawmakers have signed on the memorandum for summoning the Iraqi oil minister Hussein al-Shahristani into the Iraqi parliament. :yak: :waiting: :bringiton

http://pukmedia.com/english/index.ph...10987&Itemid=1

Forward (Lukoil) Russian to win significant opportunities for oil exploration in Iraq

The Oil Minister Hussain al-Shahristani said in the company (Lukoil) Russian oil major opportunities to win the bidding for oil exploration in Iraq.

The oil ministry had allowed companies from 35 countries to participate in the auction on the extraction of oil in the largest oil fields in Iraq, 6 of which will begin this month.

The Chairman of the Commission on oil and gas in the House of Representatives on the Blu-Hussein said that Iraq was interested in attracting many companies to work in the oil sector, Russian companies, particularly in view of their long experience in working in Iraq.

http://209.85.227.132/translate_c?hl...03NreP5mxLeMtw

Abdul-Mahdi, participate in the opening session of the World Economic Forum at the Dead Sea

Deputy President Adel Abdul-Mahdi in the World Economic Forum for the Middle East at the Dead Sea, the presence of prominent political and economic experts, companies and businessmen from 79 countries worldwide.

A statement issued by the Office of Abdul-Mahdi received agency (Voices of Iraq) a copy of "The World Economic Forum for the Middle East launched the presence of political figures and economic experts, companies and businessmen from 79 countries worldwide participated in the inaugural meeting of the Forum, Vice President Adel Abdul-Mahdi and his entourage ".

The Iraqi delegation included both the Chancellor and the Chancellor Thamir Ghadhban unique Yassin and the Iraqi ambassador to Jordan Saad Hayani.

Forum discusses the three-day effects of the global economic crisis and how to overcome them.

And the World Economic Forum is an independent international organization in which leaders of thought, politics, economics, business and seek to improve the situation in the world.

http://209.85.227.132/translate_c?hl...N47lHwfI3Ub20g

Deputies of the Economic Commission: Iraq will soon be among the countries exporting gas to Europe

lawmakers said at the Economic Commission of Parliament on Saturday that Iraq will "soon" in the countries exporting gas to Europe, and there is a tendency to export gas via a pipeline through neighboring countries and the Mediterranean Sea and from there to Europe.

The MP added Mahma Khalil from the Kurdistan Alliance bloc told (Sawat Iraq) that "The European Union expressed serious desire to put Iraq in the sources of gas and there is a project of Baku - Erzurum, which is in a number of Arab states and Iran, Turkey, and this line is 130 kilometers from the crutch of a gas field in the Anbar province. "

Khalilzad said, "When Iraq becomes part of the Gas Exporting Countries to Europe will come to the State budget resources to other less important on the imports of crude oil."

For his part, a Vice-Chairman of the Committee on Oil and Gas Abd al-Hadi al-Hassani, told Voices of Iraq (VOI) on Iraq's possession of approximately three and a half billion cubic meters of gas reserves and is capable of producing more than 700 million standard cubic feet of associated gas is enough to cover the local market and export ".

The al-Hassani, "Iraq is currently losing approximately 80 million dollars a day result in the waste gas from the combustion in the air and sufficient quantities of gas burned for almost filled with a gas cylinder 300 a day."

"The discussions and agreements on the exploitation of gas in the field of a crutch in the Anbar province and exported to Europe through the Arab common pipe carries gas from several Arab countries through Turkey and into Europe; But Saudi Arabia had not been approved so far, one of the countries participating in the export of gas to Europe through this pipeline. "

The Oil Minister Hussain al-Shahristani, said recently that Iraq and Syria began to invest a crutch and they agreed on the export of 50 cubic feet per day to the Syrian market, and that the ministry had a plan to develop the field of productive capacity and access to five hundred million cubic feet, an increase of ten times what it is now and This increase will be allocated to the European market, which had expressed interest and concern for the purchase of Iraqi gas.

Hassani said that "the Russian company Gazprom is willing to agree with Iraq gas investment, one of the companies that have experience in this area and Europe financed by approximately 25 percent of its gas and soon to enter the field of the crutch in the investment licenses for gas where it is."

The deputy governor of Anbar province, was sentenced on Friday said Jassim (5-15) The Council approved the Anbar province, a crutch gas field for investment and is now awaiting the approval of the Council of Ministers on this matter.

The ministry spokesman Assem Jihad said the oil beginning this May, the ministry expressed its readiness to meet the desire of the European Union access to Iraqi natural gas, indicating that they will be able to develop a crutch if the gas in western Iraq in the results of the first licensing announcements next June.

Jihad said that the field produces a crutch now little more than 50 Mqmq (standard cubic meters) of gas per day, despite the size of gas reserves in which good, noting that the development work will start immediately after the announcement of the names of companies that won the first licensing cycle.

According to the results of the first session of the licenses by the Ministry in February 2008 included the development of six oil fields and gas fields, one crutch and the other is Mansourieh in Diyala, he said, adding that the Iraqi gas field would be removed from the crutch of a gas pipeline across the Arab common to Syria and Turkey and then to Europe.

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Iraq Interior Ministry announces readiness to take over security responsibility

Interior Ministry Operations Chief Brigadier General Abdul Karim Khalaf affirmed that the ministry forces are now completely ready to take over security responsibility from multinational forces.

Moreover, the parliamentarian defense and security committee clarified that there is no more need for US Forces in Iraqi cities given the upgrade of military forces.

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

European and Arab companies, announces its readiness to pump gas from the territory of Iraqi Kurdistan

The companies on the European and Arab readiness to pump a sufficient quantity of gas from the Kurdistan region of Iraq.

The Reuters news agency that the two European and two more in the United Arab Emirates on Sunday announced the formation of a consortium to pump a sufficient quantity of gas from the Kurdistan Region of Iraq.

Adding that this step comes to begin the feeding pipeline project Nabucco natural gas to supply Europe with gas.

Confirmed by the Austrian company OMV MOL Hungarian in a joint statement that they have contributed to the project, which is estimated at eight billion dollars in conjunction with the oil companies, Dana Gas and Crescent start gas development in the Plan.

Believes each of Crescent Petroleum and Dana Gas existence of a sufficient quantity of gas in fields that are operated in the province of Kurdistan and that the amount would be enough to supply the pipeline after the gas to meet domestic demand in the region of Kurdistan and Turkey.

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Trade Minister Abdul Falah Sudanese for the first time recognizes the poor ration card items

Network Fayha'a The Minister for trade Abdul Falah Sudan during the examination, which was held yesterday in the Iraqi parliament poor vocabulary Batavp supplies.

Sudan said in response to questions from the Chairman of the Integrity Commission, Sheikh Sabah Saadi in the parliament with regard to the administrative and financial corruption in the Ministry of Trade: Yes there are bad items in the ration card as well as where there is a shortage, but there is no harm, no citizen of any indication that the items of information card Altamonip caused poisoning of citizens.

This is the first recognition by the Minister of Trade and poor vocabulary Altamonip card.

http://209.85.229.132/translate_c?hl...GCUEBAnrZUcr_g