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

Economic Effect

Smart card ..
Hilal miller
Iraqi academic researcher
Rafidain banks, started to work good and smart card banking and this is a step in the correct direction to serve the citizens and the provision of banking services to them in accordance with the latest modern technological methods similar to those of advanced countries the bank note that the use of this card will provide more than 250 service to the subscriber can be summarized as follows:

1. The delivery of monthly salaries to employees, retirees and covered by a network of social protection and the elimination of administrative and financial corruption and detect employees who receive salaries at the same time.

2. Pay water and electricity.

3. the payment of tax deductions.

4. transfer funds among the people.

5. can be used to familiarize staff with an e-card to control the process of entry and exit of the circles in which they operate.

6. will provide huge amounts of money the smart card of the state through the development of automatic exchange companies in remote areas.

7. would reduce the excessive monetary circulation of the Iraqi economy.

8. will provide more time for the owners of capital, trade and retirees who spend the trouble and hardship to go to the banks in order to withdraw the money or receiving a salary for employees and retirees.

9. will provide funds to the State Bank building and a new staff and the Director of the bank.

10. can take advantage of retirees in the overseas service.

11. the possibility of joint, which wants to withdraw, there is no specific ceiling on the amount that can be withdrawn.

12. to eliminate fraud in government departments through the use of fingerprints as a means ten touch tariff which is not subject to fraud.

13. is characterized by ATM in Iraq at the amount required to provide a common time limit not exceeding 17 seconds.

14. The use of ATM to eliminate brokers and Almstvidn imaginary, where it will provide huge amounts of money to the State as well as assist in the reduction of inflation, which characterized by Iraq.

15. Finally, the system do not need to contact the Board of work but according to the method oflien.

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Five-Year Plan

Fall conference, which began its work yesterday in Baghdad as part of the pursuit of the Ministry of Planning to prepare a development plan after missing a five-year economic program of the government during the past three years old and there was no progress is the level of ambition because of the nature of political and security challenges faced by the absent Madjal vision and effort perspective barely rise to the magnitude of the suffering of the citizens and if the government during the last set of development plans and investment for a period of one year under the banner of so-called balance of investment

Which were differentiated by the levels of production even in the 2008 budget last year, which has been described by observers and experts explosive ambitious budget, which reached the level of allocations of more than 50 billion dollars, but that done and barely made it a reaction to the ground because of the devastation of the long-infrastructure for all sectors as well as the disruption wheel production and trade and the prevalence of depressed state of financial and administrative corruption and the Madf government through the Ministry of Planning to prepare a development plan Khmip is an old tradition of economic BLACKLISTING justified the urgent need for strategic plans that require more than one year time ceiling in terms of the nature of projects and the possibility of carrying out economic reforms, which require some cases more than one year in view of the working papers presented at this conference we focused on the productive sectors of industrial and agricultural trade from the utmost importance to activate the national economy and liberating it from its excessive reliance on oil and towards the new spaces of the sources of funding and that the conference emphasized the importance of sector leadership private investment and open the door of their importance in the development plans of all the short, medium and long-term.

Regardless of the nature of visions and ideas at hand, which was absent visions and ideas to develop the oil industry production and export of Ahmiphma sector in the process of economic transition currently taking place which are supposed to take place gradually Maittalb dependence on the oil sector in the sustainability of development and access to the desired goal to say apart from that, this Conference represents a quantum leap and the direction of health reform and move towards sustainable development.

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sponsored by the Ministry of Planning and the presence of ministers, advisers and experts .. The five-year development plan seeks to move the wheel of production in the national economy

Was launched in Baghdad on Wednesday to discuss the five-year plan for the years 2010 - 2014, organized by the Ministry of Planning and Development Cooperation of 2014 and it is hoped to conclude its work on Thursday amid optimism out of the resolutions and recommendations to prepare an economic plan would include all productive and service sectors and physical.

The Deputy Prime Minister Rafie al-Issawi in a speech at the conference: the trends set by the national development strategy must be reviewed for reference in the joints are important Mtdmanatha, which confirmed the need to develop a program for the time horizon for achieving the full and optimal utilization of productive capacities and human potential and to achieve the quantitative and qualitative development of the items of the production process.

Issawi, The most important strategic objectives for the advancement of national development to achieve growth rates of economic and social well-being .. In addition to improving the quality of life and related basic services to citizens such as health, education, transport, electricity and municipal services, and others.

Issawi, also noted the need to activate and make way for the private sector to invest in areas that should not enter the State in which a competitor, but the sergeant's role and the supportive and encouraging and guiding. He focused on the importance of establishing the foundations of law and justice so as to achieve confidence and develop a framework and accounts for the provision of arbitration should be the other must take into account the five-year plan

For his part, Finance Minister Baqir Jabr Al-Zubaidi (term): The implementation of this five-year plan means that we on the right track and we have a clear vision of project implementation, adding that the Ministry of Finance participate in this conference in order to get out a clear vision and joint action with the Ministry of Planning, which sought to hold This conference is approved by the Council of Ministers.

Zubeidi and affirmed the need for coordination between the two ministries to design and build Almoisntin operational and investment so as to achieve overall economic development. Under-Minister of Planning and Chairman of the Central Agency of Statistics, Dr. Mahdi Al-Alaak (term) that the working paper presented at this conference will develop visions and ideas that would improve the service and the reality of health, educational and education in order to achieve the best standard of living of citizens. He noted that in the Ministry of Planning of the Kurdistan region this morning, Dr. Yusuf said that his ministry had begun to develop a detailed plan in the agricultural field as well as the development of other sectors and in consultation with the Ministry of Planning in the central government

For her part, representative of WHO, Dr. Naima for the short (term) that this is the best time to make progress in the development of Iraq in light of the global trend to support Iraq in all Alaftaat and trends, noting that economic progress and human development are the pillars of the articulated a stable and prosperous Iraq. Attention, senior adviser to Prime Minister Thamir Ghadhban told (term): that the government felt that the development plan for one year or two is not enough to make it prepares for the preparation of a five-year plan, noting that it is the first work to identify the vision, first in order to proceed to the merits of the implementation of detailed plan of work through the papers presented at this Conference.

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Iraq's cash needs may drive energy deal with Kurds

Tuesday May 19 2009

* Baghdad desperate for income after oil price fall
* Cash need may drive deal on oil exports with Kurdistan
* Deal could pave way for gas exports to Europe

BAGHDAD/DUBAI, May 19 (Reuters) - Baghdad's desperation for more cash to rebuild after years of sanctions and war could provide a long-awaited catalyst for a deal with minority Kurds on oil and gas exports.

Iraq's Oil Ministry on Monday rejected an $8 billion Kurdish plan to fill the Nabucco pipeline with gas for Europe, the latest spat in a long feud with the largely autonomous Kurdistan region over control of massive oil and gas reserves.

But it has made a concession on oil exports from the region, after two years of deadlock.

"Iraq is desperate for oil export money and hard currency, a potential driver for a deal with the Kurdish region that is much stronger than anything we've seen previously," said Samuel Ciszuk, analyst at IHS Global Insight in London.

Facing domestic pressure to boost income hit by the oil price slump and to increase sluggish output, Oil Minister Hussain al-Shahristani gave permission earlier this month for the Kurdish north to start modest oil exports of 60,000 barrels per day from June 1. The Kurdish region said the flow could quickly reach 100,000 bpd.

But the two sides have yet to agree the key issue of how revenues would be shared. How that is resolved has implications for the Kurdish region's plan to export gas to Europe, as well as for future oil and gas contracts throughout the country.

WHO GETS WHAT?

The exports stem from production sharing contracts the Kurdistan Regional Government (KRG) has signed with foreign firms, which Baghdad maintains are illegal. The oil ministry says only it has authority to validate contracts; the KRG says its deals are constitutional.

If Baghdad agreed to pay the companies from oil and gas revenues according to the contract terms, it would effectively validate the deals and concede ground to Kurdish and other regional claims to control over resources.

The oil ministry says income should go to a central pot and then be distributed as for the budget, of which the KRG gets 17 percent. The KRG, if it could, might use that to pay the firms.

"That would be the death of all other exploration agreements in the Kurdish region," Ciszuk said.

KRG contracts with oil firms call for them to be paid 18-20 percent of total revenues. It would be short if forced to pay with its share after the pot is divided.

"It's unfair to even suggest that Kurdistan repay the oil firms using its 17 percent share," Ali Hussain Balou, a Kurd who heads the Iraqi parliamentary oil and gas committee, told Reuters. "Any (Iraqi government) support for that idea would only complicate the problem and push things into a deadlock."

The committee's Arab deputy, Abdul-Hadi al-Hasani, said the firms involved, Norway's DNO International and Toronto-listed Addax Petroleum, should be paid their drilling costs rather than their contract entitlement. That would be a compromise until an oil law was passed, he added.

Iraq's cabinet approved an oil and gas law in 2007 that would help resolve deep disputes casting a shadow on the future of a country struggling to emerge from six years of violence.

But disagreement between Baghdad and the KRG has delayed the legislation's passage to parliament.

Once exports flow, the two sides were likely to come to some pragmatic agreement on revenues, analysts said.

Both sides need to see more income as Baghdad has been forced to cut the federal budget for this year three times due to oil's slump to around $60 a barrel from a peak over $147 last year. Iraq relies on oil for about 95 percent of income.

SLUGGISH PRODUCTION

Shahristani is under pressure to compensate for a decline of around 250,000 bpd in output from a post-war peak hit last May. Kurdish output could plug the gap more quickly than any other source available to the minister.
Iraq has the world's third-largest oil and tenth-largest gas reserves, but needs billions to overhaul energy infrastructure.

Even a deal on revenues from these exports may be insufficient to point the way for future deals and for any gas supplies to Nabucco, analysts said.

The deals with DNO and Addax were signed before the draft oil legislation was agreed, so Baghdad may be more inclined to allow them to go ahead than those signed later, analysts said.

"I think that the oil ministry is quite careful not to set a precedent that will encourage firms to continue signing deals with the KRG," said Valerie Marcel, associate fellow at international affairs institute Chatham House.
Baghdad has its own plans to supply gas to Europe from other fields, another reason it would resist the Kurdistan plan.

The firms hoping to export gas to Europe may go ahead with plans to build a pipeline to Turkey under KRG auspices and with no federal approval. But buyers and especially transit country Turkey, itself combating Kurdish separatist aspirations, would be reluctant to purchase without Baghdad's nod.

"That would be encouraging Kurdish separatism," said Al Troner, Managing Director of Asia Pacific Energy Consulting. "That would be a very hard sell in Turkey."

http://www.guardian.co.uk/business/feedarticle/8515352

Finance Minister, thank President Bush for extension of the matter on protection of Iraqi funds

The Minister of Finance Baqir Jabr Al-Zubaidi, a letter of thanks to President U.S. Barack Obama What kind of a resolution renewing the Order for the protection of Iraqi funds in the United States of America, which ends on 22/5/2009 in force for another year until the end of the day 22/5/2010.

The source at the Ministry of Finance of the reporter that came to the continuation of efforts to achieve stability and peace throughout our dear Iraq and enable the reconstruction and the provision of basic services to citizens and to achieve the desired economic growth to raise the level of welfare of the Iraqi people.

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The opening of the offices of a number of oil companies in Baghdad soon

The Iraqi Oil Ministry on the tongue and of the minister, Hussain al-Shahristani, near the opening of the offices of a number of oil companies in Baghdad.

Shahristani said at a joint press conference in Baghdad on Wednesday with his Egyptian counterpart Sameh Fahmi, "the next few days will witness the opening of the offices of a number of Egyptian oil companies in the Iraqi capital, to identify project sites, which it is hoped to proceed with its implementation."

Shahristani also disclosed in the joint conference on the initiative of cooperation between Iraq and Egypt in the areas of oil and gas, saying that "the signing of the cooperation between the two countries came to the activation of joint activity in the areas of oil and gas and oil industry Mphasalha all."

He added that "the Egyptian side promised the opening of offices of the companies specialized in the oil sector of Baghdad during the next few, to start work in the area of drilling exploration wells, oil refineries and the development of piping and other projects."

For his part, the Egyptian Petroleum Minister Sameh Fahmy, "The country is seeking for a strong partnership with Iraq in the areas of oil and gas," likely "a large Iraqi renaissance during the next term in the field of energy."

He explained that "next week will see the arrival of a specialist to determine the sites of action in the implementation of projects agreed upon in Iraq," he said, pointing out that Iraq needed the Egyptian expertise in drilling hundreds of wells to increase production of crude oil. "

The Egyptian Energy Minister Sameh Fahmi, left Baghdad on Wednesday after an official visit that lasted for hours.

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Iraq demands recovery of 19 billion dollars lost during the administration of Bremer

Iraq announced its adherence to retrieve the money wasted in the era of the civil administrator Paul Bremer or mis-use of the limits of which 19 billion dollars, with the regulatory agencies continue to Iraqi, American and discussed at the highest levels of federal appeals court decision the American possibility of moving the lawsuit on the matter. A member of the House of Representatives of the United Iraqi Alliance bloc, said Sami al-Askari, Iraq maintained its claim that the recovery of money wasted in the era of the civil administrator Paul Bremer to Iraq after the fall of the former regime in 2003, he told (the extent) that the reports of wasting large amounts of money which the Iraqi the other was devoted to Iraq from countries that took part in the process of reconstruction in Iraq. The leader of the Dawa Party, said the amount that had been exploited in the period amounted to more than 19 billion dollars.

And eliminate the possibility of questioning Iraqi Americans waste money issues involved, he said that the minimum demands of the Iraqi government on this issue is the recovery of the sums wasted in other areas that have been allocated, but to call the bombing of the Iraqi side, then it is up to the Magistracy, which is the sponsor whose solution. He stressed the need to create the military of those files, because Iraq needs the money in the process of construction and reconstruction.

And lost huge sums in reconstruction have yet to bear fruit in the period that followed the fall of the regime Alambad, the back of the massive financial corruption in Iraq's history.

On a related level, the head of the Office of Financial Supervision, Dr. Abdul Basit Turki, and the U.S. Inspector General on Iraq reconstruction, Stuart Bonn federal appeals court decision, and the possibility of moving the case law on abuse of the Iraqi capital during the civil administrator Paul Bremer.

Discussed with the Turkish and Bonn, according to a press statement, examine the draft memorandum of understanding signed between the Supreme Council for the reconstruction of the Council of Ministers, and a multi-national forces, on the reconstruction in Iraq.

The Secretariat of the Council of Ministers has asked all departments and the competent authorities providing information about the financial irregularities that occurred during the Fterpaml U.S. civil administrator Paul Bremer, and the need to provide guidance to the Secretariat of the Council of Ministers of all the information available for any abuses that occurred on the Iraqi funds deposited in the Development Fund for Iraq, which was expenditure for the implementation of projects. The Secretariat explained that the registration procedure, or manipulation of some of the implementation of projects and fake, it would help Mwadp an action by government bodies and companies, which caused the waste of money. This directive comes after the authorities received information from the Government Secretariat of the International Council for advice and oversight, according to a federal appeals court issued a decision Amiraip includes the right to build a case against the people who manage money on Iraq, even under the administration of civil government.

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Shahristani: Iraq looks at the possibility of exporting the surplus of natural gas pipeline across the Arab Middle East and Europe

The Oil Minister Hussain al-Shahristani told a news conference with the Egyptian Petroleum Minister Sameh Fahmy in Baghdad, Iraq to discuss the possibility of exporting the surplus of natural gas pipeline across the Arab Middle East and Europe, and he was considering linking the Iraqi surplus gas pipeline, which begins in Egypt , in order to export gas to the Arab countries and then to Europe.

http://209.85.229.132/translate_c?hl...n5y_FAy8_aI-Zw

UAE to withdraw from the GCC Monetary Union project

Emirates announced it would not accede to the Convention on GCC monetary union, the sources confirmed the accession of Saudi Arabia, Kuwait, Qatar and Bahrain.

The official linked to the UAE's decision to withdraw the Gulf Cooperation Council to make the headquarters of the Central Bank of the Gulf in Saudi Arabia, instead of the UAE.

The source said the UAE foreign ministry official told a news briefing that the UAE had decided to not be party to the Convention on the Gulf monetary union, he was informed the General Secretariat of the Cooperation Council for Gulf Arab states officially do so.

The UAE official that his country wishes of the States of the Council will accede to the Convention mentioned success, stressing that the UAE continues to work on anything that might interest the citizens of the GCC countries and it will continue to play its role as an institution of the Council to achieve its mission and objectives.

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Kuwait presses UN to resolve outstanding issues with Iraq

Kuwait is seeking the support of the five permanent members of the UN Security Council to resolve outstanding issues with its former invader Iraq, a senior official said on Wednesday.

Mohammad Abulhassan, an advisor to the Kuwaiti ruler, told the official KUNA news agency that Baghdad had yet to fulfill its obligations, including the demarcation of borders and payment of war reparations.

"Kuwait wishes to see a stable Iraq and wants a resolution to outstanding problems between the two nations," Abulhassan said after handing a message to British Foreign Secretary David Miliband from the Kuwaiti prime minister.

"Over the past years, Kuwait extended every possible cooperation, but we are still awaiting Iraq to fulfill other obligations regarding the missing and prisoners of war, payment of war reparations and the return of stolen properties," he said.

"There are other permanent obligations on Iraq like implementing the issue of (land) borders, UN Security Council resolutions and maritime borders which have not been demarcated yet."

The UN Security Council demarcated land borders between the two Arab neighbours in 1993, but Kuwait says that parts of the border have not been marked yet.

Abulhassan said that he will hand similar letters to officials in France, Russia, the United States which along with China are the five permanent members of the Security Council and to UN chief Ban Ki-moon.

The Kuwaiti ruler Sheikh Sabah al-Ahmed al-Sabah raised the issue with Chinese officials during a visit to Beijing last week, he said.

According to Kuwaiti officials, Iraq owes Kuwait 25.5 billion dollars of war reparations for the 1990 occupation of the oil-rich emirate by Saddan Hussein.

In addition Baghdad owes the emirate around 16 billion dollars in debt. Kuwaiti newspapers have reported that Iraq has been pressing Kuwait to settle outstanding issues bilaterally but the emirate has insisted this must be done through the United Nations.

http://www.zawya.com/Story.cfm/sidAN...%20with%20Iraq

CBI dollar sales make major leap in daily auction

Demand for the dollar increased in the Central Bank of Iraq (CBI) auction on Tuesday, reaching $223.535 million compared to $134 million in the previous session.

“The demand hit $51.640 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $171.895 million in foreign transfers outside the country, covered 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 21 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=113518

Bahrain announce their willingness to import Iraqi gas

"The Minister of Oil and Gas Affairs and Chairman of the National Authority for Oil and Gas Abd al-Husayn Mirza, Bahrain Bahrain is ready to cooperate with Iraq to import natural gas in the event it is economically feasible.

The newspaper quoted "home," Mirza said on Thursday that "we must have more details about natural gas supplies to Iraq before we decide to engage in talks with Iraq or not."

But Mirza said: "At the same time we have projects and plenty of options to increase domestic production of natural gas."

Mirza's statement following the announcement by Iraqi Oil Minister Hussain al-Shahristani, in Baghdad, Iraq to hold talks on the possibility of exporting the surplus of natural gas through the pipeline to the Arab countries in the Middle East and Europe.

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The Finance Committee of the Parliament welcomes the decision of U.S. President to extend the protection of Iraqi funds

The Finance Committee of the decision of the House of Representatives, U.S. President Barack Obama's decision to extend protection to the Iraqi money for another year.

The member of the Committee on the mass of the Attorney-Islamic Union of Kurdistan Atrushi Sami "The decision by U.S. President Barack Obama came to dispel the fears of Iraqi politicians about the fate of Iraqi funds in U.S. banks if the current lift protection," adding that "if the U.S. protection of Iraqi funds sap by States owes Iraq and would lead to financial disaster, especially as the budget ran a deficit in the current year. "The subject of money comes from Iraqi oil export and deposited in the Development Fund, to protect the U.S., The Convention on the withdrawal of troops, which was signed by Iraq with the United States of America and approved by Parliament in the 27 of November of last year, the continuation of such protection and to prevent any allegations of financial or courts to establish the reservation.

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CBI sells $835m this week

Demand for the dollar increased in the Central Bank of Iraq (CBI) auctions this week, hitting $836.611 million at an exchange rate stable for the 17th week in a row – 1,170 Iraqi dinars (ID) per dollar – compared to last week’s $774 million.

“The demand hit $228.430 million in cash, compared to $89 million last week, covered by the bank at an exchange rate of ID1,176, while foreign transfers outside the country registered $635.181 million compared to last week’s $685 million, covered at an exchange rate of ID1,173,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the banks that participated in this week’s sessions offered to sell dollars.

http://en.aswataliraq.info/?p=113549

M.obile companies owe government $2 billion – MP

The m.obile p.hone companies operating in Iraq owe the Iraqi government nearly $2 billion, member of the parliament’s economic committee said on Friday.

“We demand the finance ministry to take all measures to get these amounts as these companies should abide by their contracts and pay amounts within a certain timetable,” Abdulhadi al-Hassani told Aswat al-Iraq news agency.

“These amounts will boost the country’s budget and will decrease its deficit through using them in the investment,” he added.

“The m.obile p.hones did not abide by the quality of services so we had to fine them $10 million due to the bad service,” he noted.

http://en.aswataliraq.info/?p=113542

China faces unexpected problem drilling for oil in Iraq – paper

The Wall Street Journal said on Friday that the first oil investment company in Iraq suffers blackmailing and looting by local residents in Wassit, noting that there are challenges will face other companies.

China National Petroleum Corp. began work in March to develop the Ahdeb oil field in Wassit in southeastern Iraq, marking the first significant foreign investment in the country’s vast but creaky oil industry, according to the Wall Street Journal.

Company officials expected logistical and security challenges in the war-torn country. But two months later, their investment is running into an unexpected obstacle: angry farmers.

CNPC’s hassles could offer important lessons for other big international oil companies jockeying for a role in Iraq’s oil industry. Next month, Iraq is set to award a series of drilling contracts to major international companies. Royal Dutch Shell Group PLC, BP and Exxon Mobil Corp.

After a few weeks after the Chinese company started its work in Wassit, local farmers came to the field and complained that the drilling hurts their properties and demanded the company to compensate them.

“Some Iraqi official s said that farmers looted the oil equipments last month and early this month,” the paper said.

http://en.aswataliraq.info/?p=113532

So goes the Great Iraq.. And we really are looking for a reval in currency?? Long and hard road it seems Seaview. Thanks for bringing news to keep us educated and up to date. You are numero uno my friend. 67

Seaview,

Ohhhh, 'blackmailing in Iraq?

Ha!
quote:
"After a few weeks after the Chinese company started its work in Wassit, local farmers came to the field and complained that the drilling hurts their properties and demanded the company to compensate them."

Sounds like the Iraqui's are becoming 'westernized':smile:

Quote:

---

Originally Posted by Seaview

China faces unexpected problem drilling for oil in Iraq – paper

The Wall Street Journal said on Friday that the first oil investment company in Iraq suffers blackmailing and looting by local residents in Wassit, noting that there are challenges will face other companies.

China National Petroleum Corp. began work in March to develop the Ahdeb oil field in Wassit in southeastern Iraq, marking the first significant foreign investment in the country’s vast but creaky oil industry, according to the Wall Street Journal.

Company officials expected logistical and security challenges in the war-torn country. But two months later, their investment is running into an unexpected obstacle: angry farmers.

CNPC’s hassles could offer important lessons for other big international oil companies jockeying for a role in Iraq’s oil industry. Next month, Iraq is set to award a series of drilling contracts to major international companies. Royal Dutch Shell Group PLC, BP and Exxon Mobil Corp.

After a few weeks after the Chinese company started its work in Wassit, local farmers came to the field and complained that the drilling hurts their properties and demanded the company to compensate them.

“Some Iraqi official s said that farmers looted the oil equipments last month and early this month,” the paper said.

http://en.aswataliraq.info/?p=113532

---

Pathetic,

I don't blame these farmers for pressuring drilling companies, they are the ones who are still dirt poor because Iraq gov. is so screwed up and corrupt. If only oil law would be passed and Iraq become the wealthiest country in middle east, only then will the wealth ever reach the people. The gov. leaders have had more than enough time to rip off billions from country to put in their own pockets, so the only way to see country thrive is through oil development and agriculture, so put the people to work, pay them well and stop the sectarian BS over who gets what and we would all be better off.

Success to all, Mike

amen to that Mike....this government is as corrupt and no good as can be....the oil and gas law should have been passed years ago.....maybe with new elections coming up in January they might get off their A**ES.....good work Seaview with your posts....thanks for all you do..Pat

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. http://www.investorsiraq.com/images/smilies/muscle.gif

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

Central Bank Warns of withholding foreign currency reserves to cover expenses of government

The central bank warned it was given the opportunity to cut the foreign currency directly from the bank reserves to cover the expenses of different government.

The source said the central bank in this context that would weaken the ability of monetary policy on the production prospects for stability, which is the central function and purpose of the work of the Central Bank to create appropriate conditions for the reconstruction of permanent reserves through that movement.

He added that the launch of calls sticky income from foreign currency bank sources within the general budget of the Convention, and the confusion between the functions of the mobility of foreign reserves of the Central Bank and the investment allocations of the budget is a weakening of the ability of monetary policy and the exchange rate of the dinar against foreign currencies.

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m.obile p.hone companies requiring the adoption of the gates of international influence

An official source of the ministerial committee in charge of m.obile phone licenses that the Commission held its last and took a number of recommendations in a four-hour meeting on 24/5/2009.

The source added to the reporter The meeting of the Committee was based "on the deadline set by the Council of Ministers Decision No. 53 of 2009 containing the approval of the Council of Ministers on the remaining installment of the amount of the license due to m.obile p.hone companies in three annual installments and the interest rate of 4% improvement in the condition of cellular telecommunications service within three months from the date of the adoption of the resolution and confirmed by the Ministerial Committee in charge of m.obile p.hone licenses.

The source explained that the Commission made five recommendations to the Council of Ministers and bind the three companies involved (Zain Asia Sale Cork) the obligation to influence the international gates belonging to the Ministry of Communications and the rhythm of fines totaling more than $ 20 million to three companies that do not include such fines the rights of citizens affected of the companies will decide later."

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Coming Soon to export oil from Kurdistan through Turkey's Ceyhan

Said Ali Hussein, Vice Chairman of the Committee on Blue oil and gas in the House of Representatives that all technical procedures have been completed for the export of oil from the Kurdistan region of Iraqi oil through a pipeline that runs to the Turkish port of Ceyhan. He added: "The technical procedures have been completed have been linked to these fields with the Iraqi oil pipeline, which linking Kirkuk and Ceyhan, which in the case of fully prepared for export. "

This is awaiting the Ministry of Natural Resources in the Kurdistan region the approval of the Federal Government to begin to export oil from the fields of the Kurdistan region of Iraq was linked to the pipe and the proceeds will go to the central treasury.

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

Financial planning to convene a conference of global banks

Ministry of Finance revealed its intention to convene a conference of global banks in Baghdad, with global companies and banks. A source at the ministry told the independent press (Iba) that the conference idea, which emerged after the visit of Minister Baqer al-Zubaidi recently to Bulgaria, will be along the lines of the International Conference held by the ministry in Baghdad a few months ago and aims to strengthen the role of Iraq in the area of banking and the use of international expertise in this area. He added that the minister's visit to Bulgaria, had resulted in agreements for partnerships between the two countries, the banking and encourage the private sector and the promotion of investment opportunities in the banking sector, indicating that the Bulgarian side expressed willingness to visit Iraq and support of local expertise in the areas of finance.

The source continued that the Bulgarian Minister of Finance stressed the need for mutual cooperation and open the way for Bulgarian companies to participate in the reconstruction of Iraq. It should be noted that during his visit Zubeidi called Bulgarian banks to invest in Iraq and to open branches in Baghdad and the provinces.

http://209.85.227.132/translate_c?hl...l8qxOoGhLKjNlQ

Zubeidi of the "morning": seeking a loan of 7 billion dollars from the International Fund to cover the deficit
Announced plans for talks with the United Nations to extinguish the debt of the country and revealed the fraud to foreign companies

The Finance Minister Baqir Jabr Zubaidi on the efforts to sign an agreement supported by a new International Monetary Fund will pave the way for Iraq to obtain a credit of up to seven billion dollars to cover the deficit, which may happen during the current year and future Pointing out the proximity talks in Baghdad between the government and the United Nations to extinguish debt and compensation Iraq and support the country in various fields.

Zubaidi said in an interview with the "morning" that the Ministry of Finance is now moving through the coordination with other ministries, to draft a new budget for a period of three years, described the matter as it happens for the first time in the history of Iraq, pointing out that the Ministry's assurances and estimates related to positive the export of oil during the three years to be developed within this Alstrutejiat future. The Finance Minister: Iraq initiated the adoption of a new direction in addressing the remainder of the debt of some countries to persuade them through the abolition of the (debt) for the award of these countries and investment opportunities promising, indicating that the Government was currently trying to resolve the issue of reparations claims against Iraq, through the benefit from the protection provided by the administration of U.S. President Barack Obama to the Iraqi funds abroad.

He hoped that affect the loan obtained from the International Monetary Fund, the prices of oil derivatives or ration provided to the citizens, denying a request to host it under the Dome of the House of Representatives, at the same time stressing that his ministry had made great achievements in record time.

The Zubeidi on the recovery of money from the government as far as the rules of Alambad, the most prominent of the amount of $ 360 million were registered in the name of Saddam's lawyers, left-Dulaimi, will be transferred in the coming days to the Development Fund for Iraq.

He expressed a real fear of Iraq's assets from foreign companies with debts of $ 6-7 billion dollars, some of the facts and other allegations, such as falsifying documents Ktwakia former Ministers of Finance and signature (Zubeidi), was used as the name of the locomotive is also the minister of fraud, but he said: "The ministry requested the establishment of the Legal Counsel of the lawsuits against individuals, companies, and we will work on the protection of Iraqi funds.

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Bankers are demanding the establishment of a mixed commercial bank .. And civil Alshabibi urges banks to play a greater development

Asked the bankers need to set up mixed with a commercial bank has urged the Iraqi Central Bank Governor Sinan al-Shabibi development to play a greater role of financial status after the low levels of inflation during the last period. Said Dr. Sinan Al-Shabibi (term) during the conference organized by the Association of banks, Iraqi civil Saturday in Baghdad: the situation in the financial and monetary stability Maitanm we transition to productive activity, adding that interest rates declined following the low levels of inflation Madjal areas available to the system, which requires investment advanced banking.

Shabibi said that the Central Bank of Iraq is working procedures for cash in order to fight inflation, where he worked to maximize deposits to reduce spending by bringing the resources of the banks, noting the efforts made by the bank to reduce inflation and work on the transition to the productive sector and not to adopt a different method to deposit funds in banks, but she went to the market directly.

To this end, many businessmen and managers of private banks need to increase the share of private banks and the creation of a common area with the Central Bank to stabilize its role, demanding the establishment of specialized bank is capable of opening credits or interest-based bank to open documentary credits.

For his part, said Dr. Mohammad Saleh, the appearance of Counsel at the Central Bank that there is a need to create the company to ensure that deposits, which are now in the State Consultative Council, as the law pointing to the need for the entry of private banks in government projects and the transition from activity to activity, the exchange of financial development.

In response to questions from the bank before the central bank governor said that we are in the process of assessing the current stage and to reach a common vision to enable us to establish a mine, a commercial bank, referring to the actions of a process that gives certainty to the situation of the banks to the private sector in order to be able to exercise and keep up with his progress in the banking system.

Alshabibi alluded to the measures taken by the Central Bank to maintain the strength of foreign exchange reserves in order to maintain stability on the monetary system and the maintenance of price stability of the dinar against the U.S. dollar.

With regard to the issue of ownership of real estate Alshabibi He was a global issue which is part of the movement of the work and decisions taken in this regard as well as providing the means of production.

The central bank governor urged the need to develop ideas with regard to the seriousness of the civil work of banks in a bid to raise its work to bring them up to the movement of work and investment is expected to take place after the opening of the door of investment in Iraq.

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Demand for the dollar drops further on Monday

Demand for the dollar dropped further in the Central Bank of Iraq (CBI) auction on Moday, reaching $154.185 compared to $160.163 million in the previous session.

“The demand hit $52.220 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $101.965 million in foreign transfers outside the country, covered 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=113667

Mullen: US Forces exit from Iraq on track

Admiral Michael Mullen, the chairman of the Joint Chiefs of Staff, said the withdrawal of US combat forces from Iraq remains “very much on track” despite recent spike in violence.

In an interview with the ABC News, the top US military officer said that US force levels in Iraq would drop to between 35,000 and 50,000 troops by August of 2010.

In the wake of recent suicide bombings which one killed 26 people including three US soldiers while 34 were wounded in a car bomb targeting a US patrol in Mosul, Mullen acknowledged that the country is witnessing a new wave of violence, yet, he noted that the level of violence is similar to the year of 2003 adding that the situation is still fragile.

Mullen’s interview came at a time when attacks are out breaking raising fears that Iraq will burst into violence again after US combat troops depart the cities as scheduled by June 30 and amid withdrawal of all US troops by the end of 2011.

On the regional level, the chairman of the joint chief of Staffs believed that Iran still needs from one to 3 years before it gains the capacity to manufacture nuclear weapons while time is running on diplomacy meant to resolve this issue.

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

Iraqi Forces ready to take over security

Brigadier Qassem Atta stressed on Iraqi Forces capacity to take over from multinational forces at the end of June. In a joint press conference held with multinational forces spokesman David Perkins, Atta affirmed that bilateral agreements are held between Baghdad Operations Command and the follow up committee of national reconciliation to decide about Sahwas.

For his part, General Perkins said he is not sure that Abou Omar Al Baghdadi is one of the detainees held by Iraqi authorities clarifying that the US military will pursue its role to uncover the role of this person.

Perkins affirmed that the US Army has no evidence to contradict Iraqi intelligence in this regard noting that US military intelligence is working closely with its Iraqi counterpart to resolve this riddle.

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

version (2000) smart card in the province of Qadisiyah

A source at the Bank Qadisiya (515) on the issue (2000) smart card In the province of Baghdad.

He said in a news correspondent transfer The issuance of smart cards for pensioners in the province of Qadisiyah still continuing after he was direct in the tenth month of May, the current, uncertain that the rate of day-to-day version of those cards (166) card, indicating that the number of retirees in the province of (35523) retired.

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Maliki is considering a visit to Washington next month

Examine the Prime Minister Nuri al-Maliki's visit to Washington next month for talks with officials there, led by President Barack Obama, related to the promotion of joint cooperation

Especially with the imminent withdrawal of U.S. troops from cities and towns the end of next June. This was announced by the "morning," the deputy coalition Sami al-Askari, said that the Prime Minister received a formal invitation to visit the United States. Mr Maliki visited the United States in July 2006, also participated in the year 2007 the meetings of the UN General Assembly, with the U.S. president visited Baghdad, Barack Obama last month in a move interpreted by observers as the support and commitment of the Government in its efforts to achieve security, stability and reconstruction.

The military said that in the event of the visit, the files were security, economic and investment will be at the forefront of talks between Maliki and U.S. officials, noting that the issue of withdrawal according to the American security agreement will have special attention during the talks. Under the withdrawal agreement signed between Iraq and the United States late last year, the withdrawal of troops American cities and towns by the thirtieth of June next, to be a full withdrawal from Iraq the end of the year 2011.

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Quote:

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Originally Posted by Seaview

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. http://www.investorsiraq.com/images/smilies/muscle.gif

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

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Interesting,

Now this is a real breakthrough for Iraqi gov. all 140 lawmakers agreed on something, a first. lol

Hussein al-Shahristani has got to GO, and GO quickly.

Success to all, Mike

Thanks Seaview,

You have provided us all a tremendous service over the years with your posting of all relevent news in Iraq and I for one sincerely appreciate your efforts and time involved. I know how much effort it takes to wade through all the news, and I just wanted to say thanks, and I am sure this comes from all of us here on ROLclub.

Success to all, Mike

Treasury bonds

The government has called for during the past few borrowing from foreign exchange reserves of the Central Bank of Iraq and we have explained in an earlier column that this is a reserve force in support of the local currency and the stability of the foreign currencies Sarsrvha We stress now that no prejudice in the cash reserve is necessary and without justification, it is an urgent need impinge on the Situation with regard to monetary stability, which the central bank created by monetary policy and has achieved the status of grants stability, has made clear stand against the Iraqi dinar currency to the foreign exchange rate has risen from 1148 to 1117 dinars to the dollar during the three previous years here, this stability must be maintained , but the direction of the government to compensate the shortfall in the general budget of the State

Through borrowing from the reserve and had a right to act in this reserve as the elected representative government of the people and that this reserve is undoubtedly the king of this people, that at the same time will bring, as we noted earlier the problems relating to monetary and exchange rate of the dinar to the deterioration in foreign currencies and thus create a state of turmoil of the monetary system and the outcome of the return of confusion in the exchange rate of the local currency and high inflation rates, which decreased due to the stability of the exchange rate, which represents one of the most important signals of monetary policy followed by the Central Bank of Iraq.

And therefore we believe that the government intends to strive to issue treasury bonds, which is an appropriate alternative at the present time It is a better and more effective than prejudice, especially the cash reserve and the Council of Ministers last week announced its intention to issue such bonds and offer them during the past few and leave the cash reserve requirements for the sudden economic shocks caused by severe financial crises, and as long as Iraq remains out of these crises, the former to make the reserve as a means of maintaining the exchange rate and the value of the Iraqi dinar against the dollar in order to maintain the level of prices and the outcome of the reduction of inflation rates as well as make it a force supported by the lack of urgency and not justified to use and is used in the event of an adventure, especially in the case of Iraq and the economic transformation makes it Tuta fluctuations that may occur in the financial system The monetary terms of the monetary and financial stability is undoubtedly economic stability and thus the final outcome, the trend is to issue treasury bonds is one of the measures that can be brought to him that the outcome of the direct positive.

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Google, Twitter, in Baghdad & agree to the deployment of information technology

Arrived in the Iraqi capital, Baghdad, 10 E.xecutives from major Internet companies in the world to promote the spread of information technology in Iraq.

U.S. State Department, which arranged the travel of the delegation pointed out that the senior officials of the leading new media companies including the famous Google search engine, and the location of the broadcast video, YouTube, and the President of the company filing the summary Toitr in the delegation who is visiting Iraq.

The estimated number of m.obile phone users in Iraq, 17.5 million users, but is still suffering from the decline in the prevalence of Internet service.

Says Jack Dorci, the founder and Chairman of the Board of Directors of Social Toitr site page on the Internet that the proliferation of computers in Iraq is still very weak, as estimated by the Dorci less than 1 percent of the population.

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Maliki agrees to trade minister’s resignation

Iraqi Prime Minister Nouri al-Maliki on Monday agreed to the resignation presented by Trade Minister Abdulfalah al-Sudani, according to a statement from al-Maliki’s office.

“The premier agreed to the resignation presented by al-Sudani,” said the statement received by Aswat al-Iraq news agency.

“The minister had presented his resignation on May 14 but the premier postponed it to give the parliament the opportunity to exercise its supervisory role within the constitution and the law,” it added.

http://en.aswataliraq.info/?p=113685

42% of Aswat al-Iraq’s visitors consider U.S. withdrawal ‘positive’

More than 42 percent of the Arabic and English websites of the Aswat al-Iraq news agency’s visitors considered that the withdrawal of U.S. forces from the Iraqi cities next June 30 will positively affect the security file throughout the country, while 39 percent of the visitors said it will affect it negatively.

This came during a survey conducted by Aswat al-Iraq news agency on its Web site between May 9-25.

A total of 1034 visitors took part in the survey. 13 percent said that the withdrawal will not affect positively or negatively on the security file.

The majority of the voters on the Kurdish website (62 percent) said that the withdrawal of the U.S. forces from the Iraqi cities will affect positively, while 14% said it will have a negative affect.

U.S. combat forces are scheduled to leave the Iraqi cities and districts by the end of June within preparations for withdrawal from Iraq by August 2010, to be completed by the end of 2011 commensurate with U.S. President Barack Obama’s plan.

http://en.aswataliraq.info/?p=113706

The negative effects of the delayed adoption of the general budget

It was axiomatic that the application of economic policies relating to all the nations of the world is to respect the time factor into consideration and an important indicator of the success or failure of such policies and generally accepted to be approved by the general budget of any country in the world before the beginning of the fiscal year to allow a reasonable period of release of exchange in financial PROFILE the beginning of the year and thereby achieve success in the achievement of economic programs and projects

And allow sufficient time to accomplish the goals set by the target of such advance planning and budget process to ensure a balance between working time and the possibilities available to the achievement of the objectives of the general budget and the required efficiency T_khasisatha.

But what is happening in Iraq could be considered a rare and unique cases through labor long and unjustified, which takes the formulation and the preparation and discussion, approval and launch of the public budget allocations disbursed Can it go to the start of the fiscal year between five to six months to be completed by the general budget and the launch of PROFILE Finance Some might argue that the delay in approving the budget for 2009 was due to exceptional circumstances, which were packed with a lot of events and the economic variables from global and domestic repercussions of the global financial crisis and the sharp and rapid decline in global crude oil prices and the reduction of public budget allocations for several times and can understand if this justification was delay with the 2009 budget year only but the fact that this situation is repeated several times over the past years, even if less severe degrees of this year, and the question requires a convincing answer to determine whether it is the public budget for Iraq and contrary to the contexts in place in other countries in the world is a semi-annual budget Is an annual budget already?

If the answer to that is that the semi-annual budget, or slightly more than that, how can we demand that the E.xecutive organs, regardless of financial allocations for the completion of planned projects for the full year in a few months and this will give some reasons that might seem logical to Atiip services in the ministries and provincial councils of the slowdown and delay completion of capital projects and service the pretext of delay in launching the financial allocations and therefore its low rate of achievement and continue the cycle of the vicious circle that can be repeated in the coming years if it is not addressing the root causes of imbalances and reduce the time factor and the best investment we have, then, especially over the next few months on a comprehensive process of change to all authorities and institutions, legislative and operational during the next parliamentary elections, there also says that the reason for the delay in the adoption of important laws and legislation, including the public budget due to the multiplicity of actors prepare the discussion and approval of this legislation and the distribution of power between the E.xecutive and legislative power, however, the flaw lies not in the nature of This approach, as that is part of the nature of democratic systems that do not allow for unique and refuses to hand or the power of certain legislation and to take such decisions, however, countries that adopt democratic approach does not have a problem in the process of approving the annual budget on a regular basis and in accordance with the known contexts of time and trouble by suffered by the Iraqi economy is a factor in the lack of attention to the direct effects of time and in the process of development, economic growth and thereby given special importance in economic decision-making could be important to realize the great importance of the factor of time if we really the magnitude of the challenges and difficult circumstances experienced by the Iraqi economy and the need to keep pace with global changes and local importance stand on the pressing needs to restore the infrastructure and begin the process of reconstruction and investment and taking into account the suffering of the citizen of the long-awaited solutions and remedies for many problems such as unemployment and the failure of the health system and the housing crisis and the implications of the need and poverty and the slow pace of work on the infrastructure of basic services such as electricity, water and other ..

If Iraq were under the current mess, unable to formulate and approve the general budget in accordance with normal time schedule, how can we get to the legitimate aspirations of economic plans in a strategic long-term or near five-year term and other Kktp and how it could ensure the accuracy of the implementation of these plans and the commitment to achieve its goals within the time scheduled.

All the above can be said to give us a clear indication of the poor coordination between the various authorities and the slowdown in the process of discussion and the numerous resolutions and amendments in addition to the many concerns of the many things the House of Representatives can not live up to whatever the importance of focusing on legislation and laws that have an important and direct prejudice to the overall process Therefore, the economic net result of this delay does not serve the interests of the ambitions of the Iraqis to speed up the rates of reconstruction and economic development requires direct coordination between the various authorities and to agree on the importance and effects of the factor of time and at the same time, serious work on the completion of the general budget during the time period for them.

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Iraq oil revenue rises in April

Iraq boosted revenue from oil exports by 8.1 percent in April as the oil-wealthy nation sold crude at a higher price, official figures showed on Monday.

Revenue rose to 2.69 billion dollars last month from 2.49 billion dollars in March, according to data published on the oil ministry website.

Iraq shipped less oil last month -- 54.7 million barrels compared to 56.3 million in March -- but secured an average price per barrel of 49.21 dollars, up five dollars over the previous month.

Oil prices have dropped from a peak of 147 dollars a barrel in July and are now fluctuating at around 60 dollars, putting huge pressure on Iraq's budget which derives 90 percent of its revenues from the energy sector.

Iraq aims to pump six million barrels per day within the next four to five years as new projects come online, up from its current output of around 2.2 million.

http://www.zawya.com/Story.cfm/sidAN...5%20In%20April