Thread: Iraq/Dinar News. 09/05 to 01/14/07

Originally Posted by donald1439

How do you go about getting in warka and is it safe.

Info on opening a Warka Bank account here:

http://www.rolclub.com/iraqi-bank-on...nk-online.html

Is it safe? About as safe as gambling on this investment/speculation.

I found this article in the Official Gazette, the translation isn't worth a darn but, The sentence I highlighted has me scratching my head.
Does this sound as if tomorrow we may see some kind of "GOOD NEWS" printed in the paper? Something STRANGELY sounds GOOD!! Or is this nothing?
HMMMM!

Indeed, the economic indicators in the international oil market
Hossam Alsamuk
If the citizens of the oil-producing countries expected indicators rise in oil prices in the international market to strengthen their economies and ensure that future generations auspicious for the new, it remains on the surface of the globe, peoples and governments, companies and economic institutions and research centers as well as investors and speculators and middlemen all these justifications and Esteneon catalysts and perhaps even rumors of the return of the prices of a barrel of oil to a few dollars to ensure all of them support its sector in the crucial arena where the criterion of oil Stratijiat region in the world today.
As previously exposed to that drawn several times, it competed oil-producing countries invest achievements of the oil price increases in the projects. whatever its internal or external, but guaranteed-at least - rising billion of the proceeds earned from the increases anticipated from the rise of the price of a barrel of oil to four times over a year or a little more.
And crumbled Alaoblk to face rabid campaign to reduce oil prices and Almbergaah Ptdaulat international market and the principle of supply and demand. But it was surprised by that, Having decided to reduce its products million, two hundred thousand barrels per day that prices clung on session per barrel remained its place, at a time when it just announced that it would meet to consider a possible reduction of its production. Iqbal incentive for those who gamble on the vagaries of the market to escalate their applications mood of the price of a barrel of oil to cancel any idea of reducing production.
.Impressively, the deterioration in the international market prices for oil comes in the season preparedness warehouses for the storage of strategic outlook and oil products alike, as we approach the winter season, and despite the declaration of a mere declaration-- OPEC that it may proceed with its efforts to reduce the production of another five hundred thousand barrels during the month of December next, However, some lenders and speculators are still betting on the credibility of the commitment of the OPEC states commissioned by only weeks ago Btakhqid million, two hundred thousand barrels. even some experts and the oil corporations say that they gamble, although the major institutions and research centers already expected sharp rise in the price of oil, a few months ago to more than $%.
Before this terrible reality of the international oil market and could pose repercussions on the economies of oil-producing countries, especially those that have not paid attention to what feels changes. where will stand in the column tomorrow when the effects of the repercussions of this reality on the Iraqi economy and the policies followed in dealing with our revenues have increased.

AL-MADA Daily Newspaper...ÌÑíÏÉ ÇáãÏì

Cheers!
DayDream

Fox News -oil Prices Down 2 Dollars Whats Going On

Originally Posted by DayDream

I found this article in the Official Gazette, the translation isn't worth a darn but, The sentence I highlighted has me scratching my head.
Does this sound as if tomorrow we may see some kind of "GOOD NEWS" printed in the paper? Something STRANGELY sounds GOOD!! Or is this nothing?
HMMMM!

Indeed, the economic indicators in the international oil market
Hossam Alsamuk
If the citizens of the oil-producing countries expected indicators rise in oil prices in the international market to strengthen their economies and ensure that future generations auspicious for the new, it remains on the surface of the globe, peoples and governments, companies and economic institutions and research centers as well as investors and speculators and middlemen all these justifications and Esteneon catalysts and perhaps even rumors of the return of the prices of a barrel of oil to a few dollars to ensure all of them support its sector in the crucial arena where the criterion of oil Stratijiat region in the world today.
As previously exposed to that drawn several times, it competed oil-producing countries invest achievements of the oil price increases in the projects. whatever its internal or external, but guaranteed-at least - rising billion of the proceeds earned from the increases anticipated from the rise of the price of a barrel of oil to four times over a year or a little more.
And crumbled Alaoblk to face rabid campaign to reduce oil prices and Almbergaah Ptdaulat international market and the principle of supply and demand. But it was surprised by that, Having decided to reduce its products million, two hundred thousand barrels per day that prices clung on session per barrel remained its place, at a time when it just announced that it would meet to consider a possible reduction of its production. Iqbal incentive for those who gamble on the vagaries of the market to escalate their applications mood of the price of a barrel of oil to cancel any idea of reducing production.
.Impressively, the deterioration in the international market prices for oil comes in the season preparedness warehouses for the storage of strategic outlook and oil products alike, as we approach the winter season, and despite the declaration of a mere declaration-- OPEC that it may proceed with its efforts to reduce the production of another five hundred thousand barrels during the month of December next, However, some lenders and speculators are still betting on the credibility of the commitment of the OPEC states commissioned by only weeks ago Btakhqid million, two hundred thousand barrels. even some experts and the oil corporations say that they gamble, although the major institutions and research centers already expected sharp rise in the price of oil, a few months ago to more than $%.
Before this terrible reality of the international oil market and could pose repercussions on the economies of oil-producing countries, especially those that have not paid attention to what feels changes. where will stand in the column tomorrow when the effects of the repercussions of this reality on the Iraqi economy and the policies followed in dealing with our revenues have increased.

AL-MADA Daily Newspaper...ÌÑíÏÉ ÇáãÏì

Cheers!
DayDream

I don't know but it all sounds good to me REVENUE INCREASING AND TOMMOROW used in the same sentence hmmmmmm. We also learned that in 2 days iraq will be exporting oil to jordon...... Maybe its the passing of the HLC/?????? Or is it the enacting of the FIL along with our RV alowing all the big boys in having a huge increase in revenues.....dont know but it all sounds interesting.....thanks for the article DD

This might be old news but here it is,


IMF (INTERNATIONAL MONETARY FUND)

The CBI and ministry of finance are coordinating their strategy toward restructering the state-owned banks. The CBI has established a bank restructuring unit, tasked with advising on bank restrcuting plans. The ministry of finance intends to appoint an international auditor to conduct a financial and operational audit of the banks(page 10 article 25). The ministry aims to have devised a comprehensive restrucing plan by the end of 2006. There is also quantitative performance criteria proposed in the SMEFP for the end of September and end of December 2006( page 11 artilce 30).
Iraq: Proposed Availability of Purchases Under the Stand By Arrangement
Completion of the fifth review and observance of end of December 2006 performance criteria(Table 10 Page 23). By the way looks on the IMF this is the last review. They are availabile to meet around February 15, 2007. The biggest obstical is the inflation rate which is somewhere around 50%, by the agreement they need to be at 30%.


http://www.imf.org/external/pubs/ft/...06/cr06301.pdf

BAGHDAD, Nov 16 (Reuters) - Iraq's Shi'ite-led government ordered the arrest of the country's top Sunni cleric on Thursday on suspicion of "supporting terrorism", a move that could raise sectarian tensions further amid mounting violence.

An arrest warrant has been issued for Harith al-Dari, the head of the Muslim Clerics Association, a vocal defender of the once dominant Sunni minority's interests, Interior Minister Jawad al-Bolani, a Shi'ite, told Iraqiya state television.

Shi'ite leaders have been up in arms about Dari this month, accusing him of advocating violence in televised comments that they said appeared to justify al Qaeda attacks in Iraq.

It was not clear whether Dari, who has been abroad lately, was in the country. He was not available for immediate comment.

The move came after a day on which dozens of apparently Shi'ite bus passengers were feard kidnapped at fake security checkpoints in Sunni west Baghdad and government officials argued over whether staff seized by suspected Shi'ite militiamen from a ministry building had been tortured and killed.

Six missing minibuses were mostly taking Shi'ites across mainly Sunni west Baghdad when gunmen, some in uniform, pulled them over for bogus security checks, police sources said.

LITTLE GOVERNMENT CONTROL

Fifteen people were grabbed from a city centre cafe after dark, police said. Nine were gunned down at a bakery, some of at least 50 reported deaths that underlined how little control government and U.S. forces have over the capital's streets.

Demands are growing in Washington to start bringing troops home, and Prime Minister Nuri al-Maliki and U.S. commanders face a race against time to build Iraqi security forces capable of stifling the sectarian strife between Sunnis and Maliki's majority Shi'ite Muslims that is pushing Iraq towards civil war.

Fissures are also opening in the six-month-old national unity government after dozens of civil servants were seized by men in police uniform on Tuesday.

The Sunni minister whose employees were abducted is boycotting the cabinet until they are found.

"There is no effective government," Higher Education Minister Abd Dhiab told the BBC, complaining of "anarchy".

Despite repeated insistence from Maliki's government spokesman that nearly all Dhiab's staff were free and unharmed, the minister told Reuters about 70 were missing and some of the others had been tortured, and others killed. Between 40 and 150 men were taken, depending on different official accounts.

Dhiab did not say how many hostages had died but said: "According to the people released, they were killed by torture."

"I can't believe I'm alive," one man freed told Reuters, describing the kidnappers as "very organised and taking orders".

Interior Minister Bolani said five senior police officers who had been detained may have been involved. He also told reporters he suspected an "external power" had a role -- possibly referring to Iran, which U.S. and some Iraqi leaders accuse of supporting Shi'ite militias infiltrating the police.

Deputy Prime Minister Barham Salih, an ethnic Kurd, warned in a television interview that Iraq was in a perilous situation and called on moderates from all camps to rally around the government. He said some in the present coalition were pursuing partisan interests at the expense of national unity and peace.

http://www.alertnet.org/thenews/newsdesk/PAR631523.htm

Originally Posted by DayDream

I found this article in the Official Gazette, the translation isn't worth a darn but, The sentence I highlighted has me scratching my head.
Does this sound as if tomorrow we may see some kind of "GOOD NEWS" printed in the paper? Something STRANGELY sounds GOOD!! Or is this nothing?
HMMMM!

Indeed, the economic indicators in the international oil market
Hossam Alsamuk
If the citizens of the oil-producing countries expected indicators rise in oil prices in the international market to strengthen their economies and ensure that future generations auspicious for the new, it remains on the surface of the globe, peoples and governments, companies and economic institutions and research centers as well as investors and speculators and middlemen all these justifications and Esteneon catalysts and perhaps even rumors of the return of the prices of a barrel of oil to a few dollars to ensure all of them support its sector in the crucial arena where the criterion of oil Stratijiat region in the world today.
As previously exposed to that drawn several times, it competed oil-producing countries invest achievements of the oil price increases in the projects. whatever its internal or external, but guaranteed-at least - rising billion of the proceeds earned from the increases anticipated from the rise of the price of a barrel of oil to four times over a year or a little more.
And crumbled Alaoblk to face rabid campaign to reduce oil prices and Almbergaah Ptdaulat international market and the principle of supply and demand. But it was surprised by that, Having decided to reduce its products million, two hundred thousand barrels per day that prices clung on session per barrel remained its place, at a time when it just announced that it would meet to consider a possible reduction of its production. Iqbal incentive for those who gamble on the vagaries of the market to escalate their applications mood of the price of a barrel of oil to cancel any idea of reducing production.
.Impressively, the deterioration in the international market prices for oil comes in the season preparedness warehouses for the storage of strategic outlook and oil products alike, as we approach the winter season, and despite the declaration of a mere declaration-- OPEC that it may proceed with its efforts to reduce the production of another five hundred thousand barrels during the month of December next, However, some lenders and speculators are still betting on the credibility of the commitment of the OPEC states commissioned by only weeks ago Btakhqid million, two hundred thousand barrels. even some experts and the oil corporations say that they gamble, although the major institutions and research centers already expected sharp rise in the price of oil, a few months ago to more than $%.
Before this terrible reality of the international oil market and could pose repercussions on the economies of oil-producing countries, especially those that have not paid attention to what feels changes. where will stand in the column tomorrow when the effects of the repercussions of this reality on the Iraqi economy and the policies followed in dealing with our revenues have increased.

AL-MADA Daily Newspaper...ÌÑíÏÉ ÇáãÏì

Cheers!
DayDream

Great find again DayDream.

Hmmm, tommorow - iraqi economy - policies followed - revenues increased.

If they are referring to the monetary policy of the CBI this can be very good and just in time for the EU negiotiations.

Maybe some good news comes out tommorow, finally!!

Originally Posted by rvalreadydang

Justice / special source confirmed authorized in the Iraqi Central Bank that there is no intention at this time to change the Iraqi currency,

.It is expected that the ISSUANCE of NEW CATEGORIES to the transaction in accordance with the requirements of the Iraqi economy to meet the expenses of the state in the next stage. ي.With regard to the supervision of the local banking activity in Iraq by the Central Bank of Egypt and means of reform, The source pointed out that the Central Bank will supervise banking activity level by the activities of banks towards the enhancement of their role in the implementation of monetary policy in particular through channeling the savings to the various aspects of investment, so as to achieve economic growth. عار!.He added : The Central Bank had granted banking licenses of many Arab and foreign banks, whether licensing NTSB open a branch in Iraq or the establishment of a banking entity, It was also the opening of representation offices. This is the beginning of cooperation and openness to the world towards the revitalization of the economy in the country with the Iraqi Central Bank to sell the American dollar against the Iraqi dinar through a daily auction exhibit, since this auction is a tool for achieving stability in the value of the Iraqi dinar by defending the exchange rate stable for a long time. This, in turn, will affect the general level of prices

ÌÑíÏÉ ÇáÚÏÇáÉ ÇáÚÑÇÞí&#201 ; - ÇáÈäß ÇáãÑßÒí ÇáÚÑÇÞí.. íãäÍ ÊÑÇÎíÕ ãÕÑÝíÉ ÌÏíÏÉ

I don't know why, but when I read this first sentence my VERY FIRST thought was that they are talking about the lower denominations! The heading was about no intention of changing the currency and the first statement is this? Does anyone else see this or am I off track?
Any thoughts?

Cheers!
DayDream

Reuters
Nov 16 2006 17:12

By Simon Webb

LONDON, Nov 16 (Reuters) - Norwegian oil producer DNO <DNO.OL> sees no threat to its output contract in northern Iraq as the Kurdish and central governments tussle for control of oil, the company's Chief Executive said on Thursday.

"Nobody in central government has told us they are concerned about the legality of these contracts," DNO Chief Executive Helge Eide told reporters in London.

DNO was the first company to drill for oil in Iraq after the U.S.-led invasion in March 2003. It intends to start output in the country's north in the first quarter next year under a production sharing agreement it signed with the Kurdish Regional Government (KRG).

But Iraqi Oil Minister Hussain al-Shahristani has insisted on central control of oil and says he wants to review deals the Kurds have signed with foreign oil companies, including DNO.

DNO has discussed the production agreements with Iraqi government officials and has not been informed of any objections to the contracts, Eide said.

"We have had several meetings with people from central government on these issues and there has been no communication back to us of any problems," he said.

Like many other oil companies eyeing potentially lucrative future production deals, DNO has a deal with central government to train oil ministry personnel and share technology, Eide said.

The KRG has offered to share its oil revenue with Baghdad, he said, and he expected the two to come to some agreement.

The main sticking point for a policy committee drawing up a draft oil law for Iraq is whether development contracts would be signed at a regional or national level.

The issue is critical to whether more power over resources will go to the Kurds and the majority Shi'ites, who populate the oil-rich south. Minority Sunni Arabs fear regional devolution will leave them with nothing.

PIPELINE

Exports of DNO oil from its 50,000 barrels per day (bpd) Tawke field in northern Iraq will be pumped through the northern export pipeline to Turkey.

But to use the pipeline, KRG will have to come to an agreement on transit fees with central government.

Eide said that he was confident KRG would strike a deal.

But there is no readily available alternative export route, so if the deal is not struck DNO would have to put back the start up date.

"We have to rely on KRG to ensure this is in place," he said. "According to our understanding they are making good progress."

DNO will build a 50 kilometre pipeline from Tawke to connect to the northern pipeline to export the oil. The connection will be far to the north of the sections of the line that have suffered repeated sabotage, Eide said.

The northern pipeline has been mostly unusable for exports from the Kirkuk oilfields to Turkey due to sabotage attacks since the invasion.

Reuters
Nov 16 2006 16:6

CAPE TOWN, Nov 16 (Reuters) - Addax Petroleum Corp. <AXC.TO> expects to produce up to 200,000 barrels of oil per day in the northern Iraq region of Taq Taq, near the war-torn country's oil-rich Kirkuk oilfields, a top official said Thursday.

Toronto-listed Addax said it was keen to get started in the region, where it expects to produce some 20,000 bpd by mid-2007 in the first phase of the project. It was not immediately clear when full output from Taq Taq would come on stream.

"We are very excited to be one of the few in this area, which has not seen any new big development in decades," Jim Pearce, chief operating officer at Addax, told the Africa Upstream oil conference in Cape Town.

In May, Canada's Addax, which is known for its operations in West Africa and the Middle East, signed a 25-year production-sharing agreement with the Kurdish authority for the Taq Taq oilfield.

The oilfield is 60 kms north of the giant Kirkuk oilfield in Iraq, which has been plagued by a brutal insurgency since a U.S.-led coalition invaded the country three years ago and toppled then-Iraqi President Saddam Hussein.

In his presentation Pearce did not mention whether security would be a concern at the Taq Taq operation.

Addax also expects to ramp up its output to more than 130,000 bpd in 2007, from some 110,000 bpd, he said.