Thread: Archive News - Iraqi Dinar Think Tank - 01/10/09 - 27/03/10

OPEC official: Iraq is obliged to production quotas is not necessary for four or five years

Said Abdullah al-Badri Secretary General of the Organization of Petroleum Exporting Countries (OPEC) said it would take four or five years before there is a need to re-integrate Iraq's oil production in OPEC's production policy.

Al-Badri said that the timing of Iraq's annexation to the production policy of the organization may not be four or five years from now.

He added that Iraq is a founding member of OPEC, expressed confidence that there will be a solution in this regard.

Al-Badri's comments came during a conference on oil.

Iraq aims to register a sharp increase in oil production after the signing of contracts to develop oil fields in the country with international companies. OPEC does not oblige Iraq itself a target of production.

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Oil giants prepare to rebuild industry in Iraq

The leaders of two of the largest oil companies in the world have pledged to rebuild the Iraqi oil industry and increase production to about 10 million barrels of oil per day over the next decade - more than the current production of the world's largest producer, Saudi Arabia.

Tony Hayward, chief E.xecutive of BP, said that his company hopes to increase production in the field of Iraq, and they have agreed to an update from one to three million barrels per day over the next 10 years. Counterpart in the Royal Dutch Shell, Peter Voser, made a similar commitment to the fields that share with them.

The Hayward, said that Iraq's return to the mass production of the international market after years of turmoil over the war and international sanctions would be "important contribution" to fill the projected gap between global supply and demand in the coming decades. The Hayward put the gap at 50 million barrels of oil per day by 2030 unless there is an increase in investment, and more price stability and support from governments.

"We are cautiously optimistic about the possibility that Iraq could play a role in providing a new source of supply in world oil markets."

However, he also warned that progress could impede: "The reality of the challenges in implementation on the ground and need to be able to build on the ground means that things happen a bit slower than planned.

"The resources are relatively easy to retrieve, there is no reason to believe that Iraq can not produce 10 million barrels per day by 2020 or so."

Hayward said that the immediate outlook for the Western oil market was relatively calm, although the long-term trend was for growth in demand and production of 85 million barrels per day currently to about 100 million per day by 2030: "No one of us will sell more gas than it was in 2007 "to the markets of developed countries.

At the same session, said Khaled Al-Faleh, CEO of Saudi Aramco, was optimistic: "I am absolutely convinced that we will be able to do a lot more than 95 to 100 [million barrels per day of oil production planned global] ... and concern from a peak of oil is now behind us."

Commenting on the reserves of unconventional natural gas that are difficult to extract, for example, oil shale - Mr. Hayward said it could be "game is completely different in the United States, and perhaps prevent the outlook for energy in the United States for the next 100 years. We still see if it can applied at the global level."

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The arrest of deputy oil minister in the "Islamic State of Iraq" the center of Mosul

Arrested by a force of police in Mosul, on Monday, Deputy Oil Minister in the so-called Islamic State of Iraq, the city center, according to a security source.

The source, who preferred anonymity told Voices of Iraq () The police force hump "I was able (Monday) evening the arrest of Zia Abdullah alias Abu Maria, Assistant Minister of Petroleum and financial official in the so called Islamic State of Iraq in downtown Mosul," he that the force was "caught in possession of documents and documents concerning the Islamic state."

He added that the arrest "took place following the receipt of intelligence information."

It consists of an organization called the Islamic State of Iraq, whose formation was announced in October of 2006, of about seven armed organizations, notably the so-called al Qaeda in Mesopotamia, and leading the armed group that has concentrated its activities in the governorates of Iraq detainee, Abu Omar al-Baghdadi.

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OPEC: Timing of Iraq's annexation policy to the productivity of the organization may not be before 4 or 5 years from now

Abdullah al-Badri said the Secretary General of OPEC, said it would take four or five years before there is a need for the reintegration of Iraq's oil production in OPEC's production policy, which Iraq is a founding member. The Al-Badri was confident that he will be a solution in this regard. On the other hand Al-Badri stressed that the steps taken by the Commission for the trading of commodities on the U.S. market regulations, a step on the right track, but it may be impossible to eliminate entirely on speculation in the oil market.

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CBI sells $146m on Tuesday

The Central Bank of Iraq’s (CBI) dollar sales dropped to $146.278 million in its daily auction on Tuesday, compared to $195.655 million in the previous session.

“The demand hit $8.06 million in cash, covered at an exchange rate of 1,170 Iraqi dinars per dollar, and $138.218 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 16 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=126319

Oil Minister announces 40 undeveloped fields uncovered in Iraq

Oil Minister Hussain al-Shahristani said on Tuesday that Iraq currently contains approximately 40 fields uncovered, but the developer.

He said al-Shahristani told (Voices of Iraq) that "the discovered fields and undeveloped in Iraq, amounting to approximately 47 qualified field of seven fields in the second round of licensing, so it remained uncovered about 40 undeveloped fields could have been invested in the future."

He said al-Shahristani said the production capacity of Iraq's crude oil "will rise from the fields transmitted from the two rounds of the first and second licenses to € 11 million barrels per day and the capacity sufficient for the time being in Iraq needs to develop other fields," afterthought "The development of other fields could be after more than 20 years and will be based on such a decision on the need for Iraq and the possibility of production and export of additional quantities of crude oil."

The first round for the licensing of oil, started on 30 June 2009 with the participation of 22 companies worldwide to invest in six fields in Iraq, while the second licensing round was launched on 11 and 12 November last December, winning a number of foreign companies, oil fields, the rehabilitation of the most important Russian company Lukoil.

He said al-Shahristani said "the need for States of crude oil continues and fret about the fact that alternative energies will reduce the consumption of crude oil out of the question, at least for the next 20 years, the fact that crude oil was much cheaper than alternative energies."

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Kurdish PM: "We have offered proposal for tackling oil deal issues with Baghdad"

During his participation in the memorial ceremony of the February 1st heartbreak, Kurdish Premier, Barham Saleh, told reporters that the Kurdistan Regional Government has submitted a project to the Iraqi Government for exporting Kurdistan's oil and for settling the oil deals' stalemate with Baghdad.

"We have submitted a project to the Iraqi Government, in which a mechanism has been set out for exporting Kurdistan Region's oil abroad," as regards to exporting Kurdistan Region's oil, Kurdish PM, Barham Ahmed Salih, told reporters.

The Premier also said that the Iraqi PM, Nouri al-Maliki, has informed him in a phone call that "the proposals are positive and they would discuss them". "I hope we can co-operate together to distribute oil revenue on all of the Iraqis," Salih said.

Concerning the recent tensions of Baghdad and their effects on Kurdistan Region, Kurdish PM said: "we in Kurdistan Region do our best to maintain security across the country".

"We also assist the Iraqi security institutions during holding the elections, since we see that the success of the process across the country would have positive impact on democracy and federalism status in Iraq". Slaih told the gathering.

"The KRG tries its best to meet what the families of martyrs and Anfals need in order we would be able to at least ease their life difficulties," Kurdistan Prime Minister concluded.

http://www.aknews.com/en/aknews/4/109921

VP meets Obama, Biden at White House

Iraqi Vice President Tareq al-Hashemi has met with U.S. President Barack Obama and his deputy Joe Biden during his current visit to the United States, a presidential statement said on Tuesday.

“The meeting tackled bilateral relations between Iraq and the United States, as well as points of view about the current political process in Iraq and the upcoming election, scheduled to take place on March 7,” read the statement that was received by Aswat al-Iraq news agency.

The U.S. administration has stressed its keenness to abide by the main provisions of the Strategic Framework Agreement signed between the two countries, the statement added.

http://en.aswataliraq.info/?p=126323

Foreign firms seek to invest in oil refinery in Diwaniya

The Diwaniya Investment Commission received on Tuesday a delegation from foreign firms that seek to invest in building an oil refinery in the province, at a total cost of $2.9 billion.

"The refinery will have a production capacity of 140 barrels per day," Eng. Hakim al-Khozaee, the commission's director general, told Aswat al-Iraq news agency.

He said that the delegation proposed to finish the refinery's first stage within 30 months.

http://www.zawya.com/Story.cfm/sidZA...0in%20Diwaniya

Will there be a coup d’état in Iraq?

“The staging of a coup d’état is still there in the minds of some politicians but the possibility of its success is no longer there in Iraq,” a high senior government official has been reported as saying.

To say military coups are not possible in Iraq is merely part of an offensive policy. A coup d’état and its specter is even there in the mind of the official himself.

Let us discuss the issue calmly. To give it its due, I think we may need more than one article.

When was the specter of military coups not part of Iraq’s political landscape? The answer is clear. Coups have always been there in Iraq. It did not matter whether Iraq was ruled by a democratic government or a despot. That is what its history tells us since it emerged as a state in the 1920s up to the period under U.S. military occupation.

And how should we view the U.S. occupation of Baghdad? It is none but a classical example of a military coup. In fact it is the worst example.

In Iraq-style coups, Iraqi tanks would barge into the presidential palace. In U.S. –style coup, American tanks barged into the presidential palace. The only difference is that the former tanks were made in Russia and the latter ones in the U.S.

How could any observer or official then say the possibility of staging a military coup in Iraq is an illusion? Those entertaining such ideas are simple-minded people who have not read Iraq’s history carefully.

Iraqi political mind is conspiracy-stricken by nature. There are no restraints to control such conspiratorial mind. The only thing that stops a coup from taking place is the presence of U.S. troops in the country. A coup against the government will be a coup against Washington. The U.S. will not let that happen.

But who could ascertain that the U.S. itself might not support some form of a coup in Iraq. This is indeed what bothers those who see the staging of a coup quite a possibility.

http://www.azzaman.com/english/index...02-03\kurd.htm