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

Iraq: Kurds demand oil bidding round be annulled

Iraq's self-ruled Kurdish region has b.randed Baghdad's energy contracts due to be awarded at the end of this month as "unconstitutional" and demanded they be annulled.

Tuesday's statement says the central government should have consulted local authorities from producing provinces. That includes disputed Kirkuk, which the Kurds want to annex into their northern region.

Oil Minister Hussain al-Shahristani defended his plans before the parliament Tuesday. He says the contracts to be awarded are "legal" and will be ratified by the Cabinet.

More than 30 international oil companies are competing to develop eight oil and gas fields.

Baghdad and the Kurds also disagree over nearly two dozen oil deals the Kurds signed unilaterally with international companies.

http://www.forbes.com/feeds/ap/2009/...ap6579583.html

Symposium: economic reform is expected after the withdrawal of foreign troops

Discussed the expanded symposium hosted by the Iraqi Center for Development Information Iraqi reality after the scheduled withdrawal of foreign troops and the end of this month, the implications of withdrawal on the future of the country.

Said Dr. Adnan al-Sarraj told the independent press (Iba) on the sidelines of the seminar: economic reforms and development in agricultural and industrial areas is expected after the withdrawal of foreign for several reasons, one being that the government will open wider to the nations of the world after the end of the final complex files such as debt and create a climate for investment and provide job security for domestic and foreign capital.

He said the aim of the establishment of the symposium is part of the Center plans to follow up on issues related to reality, especially the Iraqi side of political, economic and social development.

Sarraj said that the issue of the scheduled withdrawal of foreign forces from the end of this month, the most prominent current issues that require civil society organizations and official bodies focus and discussion and to prepare them.

Sarraj said to emphasize the importance of economic issues with respect to the situation after the Iraqi withdrawal. He reports that several studies have shown that Iraq is on the verge of a economic recovery in the coming years.

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The governor of Basra, calling for the establishment of the Office of investment in Britain

Search the governor of Basra, Dr. Abboud Cltag with the delegation of a British investment group headed by the Consul at the British Embassy Sandra Taylor prospects of joint cooperation in various areas of investment. Abbud said: that we must develop joint cooperation between the Iraqi and British governments in all areas, especially in the area of investment in Iraq. He must take to invest in Iraq, Basra in particular directions through the internal support and attract global investment companies. He called the governor of Basra province to the establishment of the Office of investment in Britain is similar to an office in Basra. Said the consul at the British Embassy Sandra Taylor learned to maintain the image and we are inadequate. Infrastructure it needs and the southern city of Basra investment companies return to the category of sophisticated cities.

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Commission on Oil and Gas: We will not agree to the licensing of oil contracts

Hussein Ali, said Deputy Chairman of the Committee on Blue oil and gas parliamentary, that the Council would not allow the al-Shahristani, Minister to proceed with the signing of the contracts for the first licensing round for foreign companies to the end of this month. He added that the Blue, "declares its categorical rejection of the move in this round of talks unless the standard contract and ratified by stakeholders in the government and the ratification of the people's representatives in Parliament, by law or resolution." And foreign companies took up the Blue, "the legal and financial implications as well as the intention of signing by the E.xecutive power to thus open a round of violations of the Constitution and the laws in force":

For his part, Khaled al-Attiyah, First Deputy Speaker of the House that the minister, Hussain al-Shahristani, will return once again to the Council on Thursday to answer the remaining questions and queries directed to the wishes of Representatives. It should be noted that the Ministry of Oil will be organized to celebrate the signing of the first licensing round for the eight oil and gas fields, saying it will add Mamkdarh more than two million barrels per day of oil production.


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Iraqi Parliament: Bonds to be issued by the Government not to close the budget deficit

A member of the Finance Committee Sami Atrushi bonds to be issued by the Government not to close the deficit in the budget. He said in a newspaper by the Financial Management Act No. 95 of 2004 of the Government's right to issue bonds to meet the disabled in any budget, but the actual fact that the billions that have been added, whether the tune of one hundred and four contracts for electricity and 600 million dollars for water projects, trains and railways, these did not include within the general budget of the State in 2009.

He was given to the need of government to the amounts of such bonds will be issued for a period of one year interest rate of 2%, but "What we object in the Finance Committee in the House of Representatives and put a special article in the budget law is not entitled to the issuance of government bonds after the stock only refer to the House of Representatives is the fear of the cash reserve held by the Central Bank of Iraq.

He said when we spoke with the Central Bank of Iraq on these bonds, the central bank is satisfied with the government after the debate that she would issue a bond or bonds to buy banks in the State and the Central Bank is not any (secondary market), where the central bank is not entitled by law to buy from the government any bonds, but the right to market the second bank to buy the bonds as it has a cash reserve for the so-called legal reserve that the banks with the CBE, and in this reserve have enough to buy the bonds because of the urgent need for the government.

Atrushi and that these contracts and the Ministry of Electricity has already been contracted with the companies belonging to the electricity crisis and the Citizen Finance Committee is satisfied that the agreement with the Central Bank approval of the issuance of these bonds have been presented to the House of Representatives with a report of the Finance Committee says, "The payment of these bonds will not affect in any way on the reserve of the Central Bank, and the other the fact that such bonds will be sold to the government and the Iraqi dinar, but the banks and the central bank would buy the bonds in dollars, not Iraqi dinars, and this will not affect inflation in the fact that the Central Bank of Iraq has recently taken over the sale of the dollar against the dollar and thus kept the price of the Iraqi dinar.

He pointed out that Iraq is facing the problem called the (economic rent), or the adoption of Iraq's imports of oil, but the sum of resources and added to the state budget, I would expect next year will be more thriving economically what we expect. of through a combination of factors I have mentioned, in addition to that if the Government took the initiative to amend some laws such as the investment law, which has objections by some investors even more so doing, provided the promoters next year will see a kind of vital to the economy of Iraq and also the general budget of the state will recover and be able to do the costs, especially since many of the commitments of the State relating to the national side in the operational budget (salaries, pensions, social protection network), and if the economic recovery, it will turn on the Iraqi people are positive. However, a member of the Finance Committee in his speech said: "We hope large that the government and promised to submit a draft to amend the retirement law, especially with regard to the topic by retired ex-2006.

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Iraq to earn 100 times more than oil companies, says Minister

Iraq's Oil Minister Hussain al-Shahristani told parlaiment the country stands to earn 100 times more than international companies that develop some of its largest crude deposits. He said foreign investment will raise production and profit for the country while overseas oil companies get paid a fee for developing deposits without taking stakes in Iraqi fields, reported Bloomberg.

http://www.ameinfo.com/201549.html

House of Representatives continue to host al-Shahristani, tomorrow

Iraqi Council of Representatives to be completed tomorrow (Thursday), hosted by the Oil Minister Hussain al-Shahristani, on the issue of the first licensing round for oil contracts and to answer questions and queries of Representatives in this regard as well as many of the issues related to the ministry of its present and future.

The MP said the coalition Shatha al-Musawi, the mass in his statement to the "media center of the communication," that there is no reason to go to foreign companies as long as the Iraqi staff is able to achieve the advancement of production, called the offer of two first stage of the contract and if the results are meaningful to generalize to other fields, adding that "the objection Licensing Round is currently covered fields in addition to producing the length of the contract, while experts and professionals within the Ministry of Oil reject these contracts.

Moussawi said, adding "the House of Representatives will continue on Thursday hosted by the Oil Minister Hussain al-Shahristani, to complete discussions with him on these contracts and necessary addition to the many issues related to the ministry of the current and future projects and urged the ministry to work to increase Iraqi oil production is reflected positively on the budget said.

The House of Representatives on Monday and hosted by Oil Minister Hussain al-Shahristani told the Council for the first licensing round for oil contracts and to answer questions and queries in this regard as the House made a report in which he al-Shahristani, Iraq's need for the urgent conclusion of those contracts for the development of the oil wealth as quickly as possible, indicating that there were some types of contracts to the company's participation in the production of different proportions of the field to another, the so-called service contracts for the development of the field and take the company money in return.

Shahristani said that there are differing views regarding the need for Iraq to service contracts and the participation of companies working in oil fields and to support the ministry of those contracts, and that the first round of licensing include the development of six oil fields and two fields of Gazemn producing fields.

But many of the deputies on the reservation Hebdo and started interventions and questions directed to the minister al-Shahristani and Big Presidency of the Council of Representatives decided to adjourn the meeting to be completed to host al-Shahristani at the next meeting of the Council.

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Alaak Radio Tigris: The decision to withhold the ration card items that come into effect

Decision to withhold the ration card items for the citizens a monthly income of more than two and a half million dinars, went into effect.

The secretary general of the Council of Ministers on Alaak told Radio singled out by the Tigris, that the orders came after the General Secretariat of the Council of Ministers to provide the names of employees covered by this resolution.

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Deputy Sheriff on behalf of: the Iraqi economy is still not clear

Bloc MP said as the virtue that the Sharif government had not moved so far towards developing a specific strategy for after the global economic crisis, which hurt in Iraq after the unexpected reduction of the fiscal budget.

Sharif said in a statement on Thursday moved a news reporter that the Iraqi economy is still not clear-cut and offset by the absence of economic reforms and slow progress in diversifying the public revenue and investment plans to activate the country's natural resources and the production sectors.

Sharif said that the disruption of the economic system reform in contravention of Article 25 of the Constitution, adding that it is necessary to have a real direction for the development of government programs and effective follow-up variables in the economy of Iraq after the global financial crisis, and thus determine the nature of the new opportunities open to companies and the business community.

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U.S. calls on Iraq's annexation of the membership of the GCC
Called U.S. Defense Secretary Robert Gates, the Arab Gulf States to discuss the possibility of annexation of Iraq as part of the Gulf Cooperation Council.

Gates said that the countries of the Gulf and the rest of the Middle East to provide support to Iraq in the face of what he described as Iran's attempts to "destabilize" the Baghdad government. Gates told senior defense officials in a number of Gulf countries and the Middle East, said "Support for the Gulf States will help Iraq to contain Iran's ambitions."

He called on U.S. Secretary of Defense Gulf governments that consider allowing Iraq to join the regional organizations such as the Gulf Cooperation Council, and help Iraq through the sharing of intelligence information and the development of border control efforts.

Participated in the meeting, delegates from 11 countries, including the six Gulf Arab states and the forces of other Middle East including Iraq, Egypt, Jordan and Lebanon. The minister accused Iran of aiding the U.S. groups that launched attacks on government targets in Iraq as part of a broad campaign to influence the direction of this country.

Gates said that "Iran is training and equipping groups that seek to destabilize the elected Iraqi government."

He said the United States is ready to help the Gulf states to confront potential threats from Iran, but stressed the need for regional governments to establish relations with Iraq. He told officers, "As I said in the past, the Iraqis want to be your partners."

The defense minister admitted the feelings of discontent with the ongoing Arab countries because of the US-led invasion of Iraq in 2003, but said that in the interest of regional powers to support the Baghdad government. He said he wants Washington to open a dialogue with Tehran, it is also working to ensure the security interests of its allies in the region and prevent the spread of nuclear weapons. Gates stressed that "if necessary we will move through a counter-terrorism operations and the sharing of intelligence information to prevent illegal shipments of weapons or materials."

In a reference to the unrest in the streets of Tehran, Gates said that the differences on the outcome of the presidential election should be resolved "within Iran." He said, "we have followed with interest and concern to what happened after the elections," he said.

"With that the matter should be decided in Iran by the Iranian people strongly believe that the Iranian people deserve to be heard away from the violence and intimidation."

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