Thread: Archive News - Iraqi Dinar Think Tank - 28/03/10 - 21/06/10

Iraqi delegation in Vietnam to foster economic relations

An Iraqi diplomatic delegation on Tuesday held a meeting in Vietnam with Vietnamese foreign minister, with whom they discussed ways of boosting diplomatic and economic relations, according to a foreign ministry's statement.

"The delegation, led by Undersecretary of Iraqi Foreign Ministry Labied Abbawi, expressed Iraq's desire to strengthen relations with Vietnam in various domains," said the statement received by Aswat al-Iraq news agency.

"The meeting tackled also the recent parliamentary elections and the ongoing talks to form a partnership government," it added.

For his part, Vietnamese Foreign Minister Pham Gia Khiem voiced his country's support to the political and democratic process in Iraq and the recent improvement in the security and economic fields, underlining that Vietnam will take all measures to reopen the embassy in Baghdad as soon as possible.

http://www.zawya.com/Story.cfm/sidZA...ic%20relations

Iran, Iraq continue talks on joint fields

Iran-Iraq technical committee held its 3rd meeting on Tuesday.

The National Iranian Oil Company's Managing Director Seifollah Jashnsaz and the Iraqi deputy oil minister discussed energy ties during the meeting, the SHANA News Agency reported.

Developing joint oil and gas fields was the top priority of the negotiations.

In July, Iran and Iraq signed two memorandums of understanding regarding the management of joint oil fields and bilateral energy issues following three days of talks. The memorandums dealt with the training of personnel in the energy sector as well as drilling service operations and research and development.

Several oil fields straddle the Iranian border with Iraq. Iraq is keen on moving toward recovery in its national energy sector as it emerges from years of conflict following the U.S.-led invasion of 2003. Iran, for its part, has pushed to develop its own resources in spite of global economic sanctions.

Iran is the world's fourth-largest oil producer and is OPEC's second-largest producer after Saudi Arabia. As of 2006 it was producing an estimated 3.8 million barrels per day of crude oil, equal to 5% of global production.

Oil reserves in Iraq could be the largest in the world according to recent geological surveys and seismic data. The Iraqi government has stated that new exploration showed Iraq has the world's largest proven oil reserves, with as much as 350 billion barrels.

http://www.zawya.com/Story.cfm/sidZA...joint%20fields

Trade Exchanges With Iraqi Kurdistan to Expand

Iran and Iraq's Kurdistan Regional Government (KRG) agreed to increase their mutual trade exchanges in the current year, a Kurdish official announced on Monday.

"The volume of exchanges between the Iraqi Kurdistan and Iran will increase to $4 billion this year," Member of the Iraqi Kurdistan's Legislative Council Feiz Ali Khorshid told Fars News Agency on the sidelines of an expert meeting on industry and mining in the northern Iranian city of Amol.

Khorshid reiterated that current trade exchanges between Iran and the Iraqi region stand at an annual volume of $2 billion, adding that the northern Iranian province of Mazandaran has only 1.1 percent share ($22million) of bilateral trade exchanges.

He further called on the Iranian province to devise measures and plans to boost trade with his region.

Noting that Iran and the Iraqi Kurdistan share three common international borders, he said there are a number of small markets in these three border regions, where the two sides' traders can exchange goods.

He said more facilities should be provided for traders to increase the present volume of activities and exchanges.

http://www.zawya.com/Story.cfm/sidZA...to%20Expand%20

Allawi fears Baghdad vote recount could be manipulated

Former Iraqi premier Iyad Allawi, whose Iraqiya bloc narrowly won last month's general election, said on Tuesday he was concerned about possible irregularities during a recount ordered for Baghdad.

Iraqiya "supports the manual recount of ballots, but we are worried about practices that could accompany this exercise and which could lead to a change in the results that would benefit certain groups," he told a news conference.

Allawi beat Prime Minister Nuri al-Maliki nationwide by securing 91 seats against the incumbent's 89, according to unofficial results.

In Baghdad, with 70 seats the largest prize in the 325-seat parliament, Allawi gained 24 seats to 26 for Maliki's State of Law bloc.

"Are there going to be any international observers to supervise this process," Allawi asked, adding the outcome of the March 7 election was "favourably welcomed" by the international community.

Although Maliki came out ahead in the capital, he alleged there had been manipulation in voting stations and that he had lost a total of 750,000 votes in five provinces, including Baghdad.

Under the constitution, the Iraqiya bloc, as the election's victors, was entitled to first crack at forming a government but has so far failed to do so.

Were Maliki, who has also struggled to win backing from other parties -- including former allies in the Iraqi National Alliance, the country's largest religious political grouping -- to gain seats he could yet come out ahead.

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

Sadr bloc staggers govt. formation in Iraq: source

"Sadr movement stumbles the negotiations between State of Law and Iraqi National Coalition to form the government," according to a leader in State of Law.

"Sadr movement is a stumbling block for negotiations between State of Law coalition and the Iraqi National coalition," Ali al-Adeeb said.

Sadr movement refuses the nomination of the outgoing prime minister Nuri al-Maliki for a second term, due to mutual disputes over the past years between the two sides.

The leader of Sadr movement and the owner of a majority of parliamentary seats within the National Alliance bloc, Moqtada al-Sadr attacked al-Maliki on April 11 and called him a "liar," adding that "al-Maliki detained his supporters and called them terrorists."

Within the framework of efforts aimed at forming the next government and debates between the political blocs, State of Law denied any objection about a meeting between al-Maliki and head of al-Iraqiya list, Iyad Allawi.

"There is no objection on the meeting between al-Maliki and Allawi, but the atmosphere must be suitable for them to meet, after the Federal Court ratify on the electoral results and the negotiations between the National Coalition and State of Law reach an end."

The head al-Iraqiya List, Iyad Allawi, expressed yesterday his support for the decision of the judiciary committee about manual re-tally in the capital without any international control, and some of the leaders in the lists warned that any attempt to change the outcome of the elections in Baghdad will promote the list to take a different political attitude.

State of Law coalition, led by Nuri al-Maliki, accuses some political parties of fraud that caused the loss of thousands of votes that were for the list and requested the IHEC to re-count manually the votes, but the commission rejected completely this request.

In Iraq's March 7 vote, 4 lists won the vast majority of the votes, the former Iraqi interim Prime Minister Iyad Allawi's Iraqiya list with 91 seats, outgoing PM Nouri Al-Maliki's State of Law Coalition with 89 seats, the Iraqi National Alliance led by Ammar al-Hakim with 70 seats, and the Kurdistan Alliance list which won 43 seats.

Media and political parties talked about a meeting between the head of State of Law, Nuri al-Maliki and the leader of al-Iraqiya list Iyad Allawi, under U.S. auspices, to overcome the problems between them and find a mechanism to form a coalition after the meeting between al-Maliki and the senior leader in al-Iraqiya Rafie al-Issawi.

http://www.aknews.com/en/aknews/4/137760/

Economist confirms trade-off between security and investment in Iraq

The Director of Studies and economic relations strategy in the Arab League Professor Acanutorthamr Mahmoud Zeidan al-Ani said Iraq is an important and essential in the Arab region and the country is important to provide substantial financial resources and wide and hands on operating and financial possibilities and the private sector and civil society organizations to take Iraq's essential role in the Arab, regional and international levels. Indicating that the relationship direct correlation between the stability and security of hand and investment on the other hand in Iraq.

The Ani, in a press statement following the conclusion of the activities of a high-level meeting of experts about the prospects of investment in Africa and the Arab region, and transportation reporter (The Iraqi News Agency Information / INA) Is now important to find the investment climate and the presence of security will come investors, whether Arabs or foreigners, because Iraq is a country rich Odhu great potential and the whole world is seen as a potential and there is a direct correlation between security and investment Whenever there was security, was the largest volume of investments, so we hope that the Iraq and security prevail and peace.

He added that work the Arab-African has now begun to take even steps are important and essential, because Africa is the strategic depth for the Arab States and Arab countries is the depth of the strategic African employment and investment opportunities available to it is able to address the problems many of them achieve the Millennium Development Goals to reduce Alvkaroxiaodp employment opportunities and this we are suffering from both areas, we part of the southern world, these conferences to create jobs, as well as poverty reduction and eradication of poverty and these problems are common among the Arab countries and African countries, most Arab countries (Egypt, Iraq, Saudi Arabia, Morocco, Aldzairoalardn) and a large number of Arab countries, as well as organizations of the Arab countries and institutions funding the Arab and African countries and African financial institutions such as Iraq and also Vice Chairman of Investment Salar Mohammed Saleh, was present to meet with us and will be submitted tomorrow, a presentation on Iraq and the investment opportunities in Iraq.

And Acharacanutorthamrani that there is a memorandum of cooperation between the Arab League, African Union and the memorandum of cooperation action plan sets out between the two regions in the economic, social, political and much has been achieved for the march of the Arab-African since the Arab summit, first held in the Arab Republic of Egypt in 1977 to now there are twist and a meeting of Arab African tags the benefit of understanding and problem-solving, dialogue, development and investment here and there.

http://al-iraqnews.net/new/economic-news/5731.html

Iraq Oil Bases Sprout as Halliburton Chases Growth (Update1)

The world’s biggest oilfield contractors are building bases in the deserts of Iraq in a bet they’ll profit as the country strives to boost crude oil output to rival Saudi Arabia.

Schlumberger Ltd., Halliburton Co. and Baker Hughes Inc. are among companies this past week that said they’re expanding operations in Iraq. Weatherford International Ltd., the fourth- largest oilfield-services provider by market value, will expand staff in Iraq to more than 1,000 by July, Chief ****utive Officer Bernard Duroc-Danner told investors yesterday on a conference call.

The prize is a share of the billions of dollars to be spent as the war-torn country seeks within seven years to increase crude-oil production capacity to 12 million barrels a day, on a par with the world’s largest oil exporter, Saudi Arabia. Iraq’s current production is about 2.4 million.

“It’s all becoming more real, in that contract awards are getting closer,” said Jeff Tillery, an analyst at investment bank Tudor, Pickering, Holt & Co. in Houston. “It’s a big opportunity for these guys.” Revenue potential is high, he said. “The profit side is a little bit of a leap of faith.”

The risks are financial, legal and political. Contractors don’t yet have a firm grip on what costs might be, Duroc-Danner said. Last month’s parliamentary elections left no political party with enough seats to govern alone, and Iraq doesn’t have a law yet for how oil revenue will be distributed.

Second-Biggest Field

Iraq’s government has signed 10 contracts for oilfield development with London-based BP Plc, Exxon Mobil Corp. and other producers.

BP, which is leading development of Iraq’s biggest oil field, known as Rumaila, awarded $500 million in service contracts last month. Included were projects won by Geneva-based Weatherford and a partnership between Schlumberger, based in Houston and Paris, and state-owned Iraqi Drilling Co.

Rumaila may become the second-biggest oil field by production in the world, BP said earlier this year. Saudi Arabia’s Ghawar field is the largest.

Halliburton, which plans to invest $100 million in Iraq this year, said it’s in the process of securing its first major base in Iraq.

‘Plenty of Work’

“There’s going to be plenty of work in Iraq, and believe me, all the service companies will have opportunities there,” David Lesar, chief ****utive officer at Houston-based Halliburton, said on an April 19 conference call with investors. “So we’re going along at the pace we want, and we’re confident we’re going to be successful.”

Schlumberger’s base will have 300 people this year, and that number will double by early 2011, CEO Andrew Gould said last month.

“Competition will be fierce, start-up costs high, and we do not expect significant revenue before 2011,” Gould said at the Howard Weil Energy Conference in New Orleans. “The significance of Iraq will only really emerge once the post- election political landscape is understood and some form of oil law has been passed.”

Development of Iraq’s oil industry is moving ahead as security improves after decades of wars and sanctions.

Al-Qaeda

U.S. and Iraqi forces said yesterday that they killed two of al-Qaeda’s regional chiefs in raids. A day earlier, Prime Minister Nouri al-Maliki said Iraqi and U.S. forces killed the terror network’s two principal leaders in the country. “Iraq is probably the biggest opportunity, along with possibly Brazil, confronting the oil-services industry,” said James D. Crand.ell, an analyst at Barclays Capital in New York. “It’s a country that has a significantly higher capability of exporting crude oil, but it needs a lot of work done on its fields.”

Within five years, service providers may be competing for more than $5 billion annually in contracts, he said.

The four biggest oilfield contractors all rose 4 percent or more yesterday on the New York Stock Exchange. Schlumberger gained 26 cents to $68.11 at 10:02 New York time today, and Halliburton climbed 39 cents to $33.70. Baker Hughes rose 66 cents to $50.95, and Weatherford fell 22 cents to $16.99.

‘Surge’ Coming

If anything, service companies are late in positioning themselves for the “upcoming surge” in oil contracts, said Nansen Saleri, CEO at Quantum Reservoir Impact in Houston and former reservoir-management chief at Saudi Arabia’s state oil company. “Iraq is pregnant for huge growth,” Saleri said yesterday.

The country has potential reserves of 200 billion to 300 billion barrels of oil, Saleri said, and “the early movers will be the big winners.”

“It presents a tremendous opportunity for the service companies,” Gene Shiels, a spokesman for Houston-based Baker Hughes, said yesterday.
All of the companies said investors shouldn’t be quick to judge results from their Iraq forays.

“It’s going to be a very expensive place to operate, at least initially, because you’ve got all your mobilization costs, you’ve got people you’ve hired, bases that you’ve built,” Shiels said. “It’s going to take some time.”

http://www.businessweek.com/news/201...ek-profit.html

Is it possible to restructure the private sector?

There have been many economic visions for the role of the private sector in national development. Some see that the private sector in Iraq is still viewed as a given specialist granted by the State wherever and whenever you want him back,

This perception is due to the fact that the private sector and professional organization the Iraqi Industries Federation works without a clear strategy to accept specialized or deal with them as an opportunity to start or compensation for the quantitative and qualitative limitations in the field of industrial development. The Iraqi Federation of Industries on to participate in the formulation of the concept of an Iraqi national of specialized industry. This approach can not only be done by contributing to the formation or build a structure optimized for a market economy and its institutions, actors that can not be the private sector to work out ..

Most economists believe that the construction of the economic environment achieved through agreement on specific arrangements with the State in accordance with the economic approach. And the Iraqi Industries Union must be ready to address the core issue in a specialist to prove worthiness of its members in the possession of the actual public capital was not a part of the market economy and a stark reality.

And prove his worth in the management and regulation of this process and Economists believe that the contraction of an industrial project or extend, any being big or small, or, service should be organized necessarily in the legal framework that governs property rights and carries with it the rights of management and the intention here Balt_khassip in the industrial sector is to allow the private sector to participate in General Industrial Project Management in whole or in part, and this process does not inevitably mean the transfer of public property to the private sector as a whole and therefore does not impose legal obligations on the State contrary to the directions of the sovereign ..

But means and the relative weighting transfer management and operation of some industrial units of public institutions to the local private through management contracts to the magnitude of the value of the assets and sell them both Aodzoua to private institutions and individual investors .. In this way, freed of the industrial sector and its associated institutions of the routine of regulations which set limits on many temporal and functional compatibility with the variables of size of the floppy for the project ..

That contracts to participate as one of the mechanisms of action in the management and operation of projects of the industrial sector may constitute in itself a form of specialized services and thus can accomplish restructuring of the private industrial sector in which the condition to stop the official institutions and government to exercise its role in industrial enterprises and private institutions of professional and only monitored only to ensure compliance with the provisions of the applicable laws and relevant to the organization of industrial investment in the private and mixed ...

http://www.alsabaah.com/paper.php?so...age&sid=101186

Abdel-Wahab net: terms and conditions of the political blocs to delay the next prime minister named

According to a member Council of Representatives outgoing Abdel Wahab net "that the conditions and specifications laid down by the political blocs to a candidate as the former prime minister is delaying the call."

He said the net in contact with the agency, the independent press (Iba) that "all political groups claim that it Atelzm other blocs on its candidate for prime minister," noting that "the delay in naming the candidate for this position proves the opposite."

Was nominated by most of the political blocs winning candidates in the elections for prime minister, hoping to be to reach a common consensus on one candidate.

He said the net that "the Federal Court decision of re-counting will introduce a kind of simple difference in the number of seats blocs converged and this Masiezz the merits of each list." He said.

And rejected most of the political blocs final results announced by the Electoral Commission is required to submit appeals to the Court of the Federal re-counting manually.

http://www.ipairaq.com/index.php?nam...itics&id=24184

Mohammed Al Bayati: Any change the results declared for election loss of credibility and trust of Iraqis, UNHCR

considered the decision of the House of Representatives outgoing Mohammed al-Bayati, "that any change the results declared for the elections would cause a loss of credibility and confidence of the people the Iraqi electoral commission."

The Federal Court has decided to re-operations manually counting the results of the elections in Baghdad.

He said al-Bayati, in contact with the agency, the independent press (Iba), "The Electoral Commission obliged to re-counts and counting was in Baghdad or other provinces," he said, "The Federal Court decision making on the subject of re-counting in some other provinces."

Provided political blocs appeals to the Federal Court on the final results of elections for the existence of breaches and fraud in these results.

He said al-Bayati, that "Such an operation was the case in the past there is little change to the announced results that either were accurate control of the counting and sorting it gets to change the results, but not great." Stressing that "the process could drag on for another term, if approved by the Federal Court of Appeals Other Introduction some political blocs."

And calls for political blocs to re-counting not only in Baghdad but in other provinces.

http://www.ipairaq.com/index.php?nam...itics&id=24183