Thread: Archive News - Iraqi Dinar Think Tank - 06/10/2010 - 24/01/2011

Iraq Central Bank says foreign investments in Iraq are still fragile

On Monday, Iraq Central Bank criticized Foreign Investments in Iraq saying that they are fragile. The Bank stressed that the majority of these investments come from regional countries and did not bring anything new to the Iraqi market activity.

Iraq Central Bank Councilor Mazhar Saleh told Alsumaria News in an interview that the foreign investments in Iraq which are prevailed by Turkish investments are still fragile.

http://www.alsumaria.tv/en/Economics...l-fragile.html

Iraqi Oil: Can not cancel the licenses of rounds before the current parliament

Baghdad / November 29 (Rn) - The Iraqi Oil Ministry that the licensing rounds, the first, second and third can not be repealed or manipulated by the current parliament, they got the approval of the prime minister.

A spokesman for the Iraqi Oil Ministry, Assem Jihad, the Kurdish news agency (Rn) that "the licensing rounds, oil and gas by the Ministry of Oil is not the right of the current parliament to cancel the tour because of their access to the presidency of the Council of Ministers vote unanimously."

He added that "the law and the Iraqi constitution allows the House of Representatives to review the current licensing rounds and diagnosis of defect and host a cadre in charge to clarify some important points."

And that "the licensing rounds carried out by the Ministry of Oil of Iraq will transfer a quantum leap in the export of oil to arrive in the coming years to 12 million barrels a day in the light of recent studies the process."

The Jihad said "the previous assembly was familiar with the draft licensing rounds, so the right diagnosis of the current imbalance in the mechanism used in the conclusion of formal contracts or some technical matters."

The Oil Ministry announced on Sunday that Iraq's strategic policy in the development of extractive capacity of the oil will not be affected by a change of Ministers in charge of administration of the ministry which is dependent on long-term strategic plan.

Detection and Prime Minister-designate Nuri al-Maliki on Saturday at a news conference his intention to create the post of deputy prime minister for energy affairs to the advancement of the oil and electricity in the country.

And formed the oil ministry in July of 2008 an exploratory task force to look at the land of the Iraqi vehicles geology to be able to turn to the stock of oil.

And announced that the Iraqi Oil Ministry in September last that crude oil inventories in the country was 505 billion barrels of discovered fields that $ 66 oil fields, with total recoverable reserves of 143 billion barrels.

And the failure of the former House of Representatives to pass the oil and gas law, which was expected to rise in the oil situation Alibd, if approved, and sees a number of experts involved in studies of oil that Iraq is missing so far to the political oil and clear.

The Iraqi Ministry of Oil of the Iraqi Drilling Company announced the completion of drilling of 35 wells oil since the beginning of this year in partnership with international companies in different parts of the country.

Iraq held two rounds of last year licenses to invest in oil fields resulted in winning several international companies of different nationalities to develop ten fields in different regions, then set Iraq on the fourth of October last third oil licensing round.

Iraq seeks to access the oil produced within the next six years between 10 and 12 million barrels per day, and plans to increase Iraq's oil exports oil daily after obtaining approval from the Organization of the international oil cartel.

http://www.aknews.com/ar/aknews/2/198464/

International companies are scrambling to Basra in search of oil investments

Seems that foreign companies are no longer afraid of the preoccupation with security in the city of Basra, the richest cities of Iraq crude oil, and embarked on a strong presence in this city, and open offices.

It seems that the employees of these companies have overcome their fears, they see them wandering the streets freely, and integrate with the people of the city in the markets and the streets unusually, for the first time since the expansion of violence in Iraq against the background of the American invasion in 2003.

And established a company "PYRAMIS" Turkish cooperation with the Iraqi Ministry of Trade during the past three days, the largest exhibition of its kind in the field of oil and gas in the city of Basra, the participation of 250 international companies representing 30 countries.

Can not be wrong eye view of the representatives of foreign companies from Asians, foreigners and Iraqis and foreign nationals holders of the representatives or agents of foreign companies as they roam the city streets with their cars, which are accompanied by cars or other security protections of those who choose to taxis Iraq.

Are packed with first-class hotels, most notably Basra Sheraton hotels and Minawi Pasha, and other hotels in the city of foreign guests in an unfamiliar scene.

Is no longer the people of Basra strange form, for example foreign wandering in the streets, wearing shorts with a T-shirt, and put the hat on his head, and his camera or a computer, or stand up queues of cars with four-wheel drive black in the areas that are crowded or near the hotel without fear of exposure to attacks.

The opinion of the Engineer Salem Al-Ahmed (46 years) that foreign companies are the way to develop the city "because we are fed up with government promises and, therefore, foreign investment is the real solution to end the intractable problems for decades in the city of Basra, particularly with regard to drinking water and the reconstruction of the city."

He stressed that "the presence of foreign firms in the city of Basra does not pose any problem for us, but is the key to hope to bring life to this city," noting that "What is required of all the visual is to protect all foreigners came for the construction, reconstruction and the expulsion of any person acting on abuse these because we want to build our city in a civilized manner, especially as it was the richest city in Iraq. "

The city of Basra, which has a population of three million people, one of the richest cities in Iraq in the production of crude oil, which contains about 70% of Iraq's oil reserves. Among the most prominent fields west of Qurna and Rumaila, Zubair, Majnoon and Bin Umar, and all of these fields are classified as either a giant or a giant above, in addition to the rights of many others. This is in addition to being the only sea port for Iraq to receive the cargo containers and cargo through the port of Umm Qasr, north of the Gulf.

Said Samer Hadi Hussein company representative meteor drilling and oil services UAE to participate in the Basra International Exhibition of oil and gas that "the city of Basra is the center of the Iraqi economy as a whole, especially in the field of oil."

He added during a "We are entering this market for the first time, and we hope to cooperate with foreign companies that have received licenses to invest in oil fields for contracts to drill oil wells and oil services. We have received assurances from some of the initial companies."

http://translate.googleusercontent.c...6gT1bSEgh6MgPg

URGENT / 20 oil wells dug, 70 others under construction in Iraq

The digging of 20 oil wells have been completed southern Iraq’s Rumeila, Bazergan and other areas in the south of the country, according to a statement released by the U.S. Weatherford Company for Oil Services has said in Basra on Monday that it had completed the digging of 20 oil wells in , adding that work continues in digging 70 other oil wells in those areas.

“Our company has achieved the above excavations and it has other activities in northern Iraq, where work is continuing in a good manner. We have an additional 70 oil wells under construction at this time,” Weatherford’s Director, Ramzi al-Harithy, told Aswat al-Iraq news agency during his presence in the Oil & Gas Exhibition. The exhibition took place in Basra from the 25 to 28 November.

“Our company’s motive is to make companies and other parties attending this exhibition to familiarize themselves with the activities of our company, as our projects are distributed in Rumeila, Bazergan and other areas,” al-Harithy noted, denying that his company has any connections with the U.S. Haliburton Company in developing eastern Iraq’s Majnoun Oil Field.

Bazergan oil field, 24 km to the east of Amara city, is 1,500 meters, and its productive capacity is expected to reach 2,000-3,000 barrels per day. Digging on the oil field began on Sept. 10, 2010.

http://en.aswataliraq.info/?p=139318

Iraq National Policy Council Law underway

Al Iraqiya List affirmed that the committee charged of studying the national policy council law will complete its mission this week.

National Policy Council law will be completed this week before passing it to Parliament, Al Iraqiya media advisor Hani Al Ashour told Alsumaria.

The political agreement stipulates to form a national policy council that would be discussed and voted upon in Parliament, he said.

The candidate named to head the national policy council by agreement of all political parties is Iyad Allawi, Ashour noted.

Allawi will not take part in the new government until it is a real national partnership government, he added.

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

Najaf Investment Commission grants 120 investment licenses for foreign, Arab and Iraqi investors

Al Najaf Investment Commission said on Sunday that it granted 120 investment licenses for foreign, Arab and Iraqi investors stressing that it tool the needed measures in order to guarantee that investors finish works on the projects they start.

The head of Najaf Investment commission Wafi Al Bahash told Alsumaria news during an interview that the commission granted 120 investment licence for Arab, Foreigner and Iraqi investors out of 560 investment requests it received in sundry fields. Bahash added that some of these projects were accepted while the others are still being studied.

http://www.alsumaria.tv/en/Economics...investors.html

Emirates to start Iraq flights with Basra in Febuary

Dubai carrier Emirates, the largest Arab airline, said on Monday it will launch flights to Iraq's city of Basra starting February 2 to tap growing demand for the destination.

Basra will be Emirates' first Iraq route after the airline postponed the launch of flights to Baghdad earlier this year citing "operational reasons".

"The city's recent growth has paved the way for numerous multinational companies and industries to invest in infrastructure and we have seen strong potential from a number of our markets," chairman and chief executive HH Sheikh Ahmed Bin Saeed Al Maktoum said in a statement.

"Since the 2009 oilfield bid, traffic from the US and Europe into Basra has increased significantly and we are ready to capitalise on this growth," he added.

Iraq's Shi'ite south, where Basra is located, has been relatively peaceful in recent months in comparison to Baghdad and the north where devastating assaults and bombings by Sunni Islamist insurgents remain common.

Emirates expects its outbound traffic from Basra to be skewed towards local Iraqis, who are expected to travel more as the economy recovers.

The airline expects to handle around 10-12 tonnes of cargo per flight.

http://www.arabianbusiness.com/emira...eb-364766.html

Iraq's Aziz gets 10 years in prison for Kurd displacement

An Iraqi court sentenced former deputy prime minister Tareq Aziz to 10 years in prison on Monday for the displacement and killing of minority Faili Kurds during the rule of Saddam Hussein.

Aziz, the longtime international face of Saddam's regime, has already been sentenced to death for the suppression of Shiite religious parties in the 1980s, although there have been international calls for him to be spared.

"The courts issued a 10-year prison sentence against Tareq Aziz and Ahmed Hussein Khodayr," a spokesman for the supreme criminal court said. Khodayr was an aide to the now executed dictator.

In poor health and among Saddam's few surviving top cohorts, Aziz, 74, has been in prison since surrendering in April 2003, shortly after the capture of Baghdad in the US-led invasion of Iraq.

Aziz, who was born to a Christian family, was foreign minister and deputy prime minister under Saddam, who was hanged in December 2006.

The death sentence, which was handed down on October 26, provoked a wave of appeals for clemency from around the world, including from human rights groups, the European Union, Russia and the Vatican.

Saadun Shaker, a former interior minister, Aziz Saleh al-Nohman and Mizban Khoder Hadi, both members of regional Baath party commands, were meanwhile all sentenced to death in connection with the displacement and killing of Faili Kurds during the Iran-Iraq war which stretched from 1980 to 1988.

Seven others were released "for lack of evidence," the court spokesman said. Unlike most Kurds, the Failis are Shiite Muslim, and many were expelled from Iraq when Saddam's minority Sunni Arab-led regime waged war with Iran.

http://www.zawya.com/Story.cfm/sidAN...20displacement

Two southern oil fields to produce huge quantities - Official

Oil production in southern Iraq's Missan and Halfaya oil fields has begun with huge quantities that are expected to support Iraq's national economy, according to the Director of Missan Oil Company, Ali Warid on Sunday.

"Work has begun in Missan and Halfaya Oil Fields. The future holds promising results, as they shall greatly increase the levels of productive energy. This will help support the national economy," Warid told Aswat al-Iraq during his attendance of the Oil & Gas Exhibition, held in Basra city from 25 to 28 November.

"We are partners in several contracts in Iraq, as Missan Oil Company is one of the establishments of the Iraqi Oil Ministry," he said.

Warid indicated the "presence of a partnership with Halliburton Company, through two licensing sessions."

"Our company's participation in this exhibition, being a strategic oil company, under administration of which exists gigantic fields, through the exhibition, shall have contacts with all participants with the aim of boosting the Iraqi oil status," Warid said.

Commenting on the average production of Missan oil fields, Warid said that "the average oil production of Missan fields shall reach 100,000 barrels per day."

http://www.zawya.com/Story.cfm/sidZA...aqi%20official

Planning: Encoding field nationalism was the reason for postponement of the census

The head of the statistics in the Ministry of Planning, Wednesday, for the reason that prompted his ministry to postpone the census is the lack of agreement on the coding field of national disputed between Arabs and Turkmen on one side and Kurds on the other hand

Keywords, "said Mehdi told the Kurdish news agency (Rn)" The purpose of the postponement of the general census of population was due to give a chance for the Arabs, Turkmen and Kurds, to whom shall be a national consensus and political to the census in all regions of Iraq. "

Keywords and explained that "there are clashes between Kurdistan and the Nineveh province, prompted the Ministry of Planning to postpone the census as well as the most important point in this dispute is coded national field."

"The resolution of these issues are left to the leaders of the politicians," adding that "there will a meeting of leaders of blocs next Sunday in order to resolve this dispute and to determine the date of the census."

The Nineveh provincial council voted to reject the census in the province, asking to delay it because of the possibility of a political pressure during the conduct of the census.

The Iraqi Council of Ministers decided to conduct a census of all of Iraq's provinces on December 5 next to it only because of the problems in the disputed areas.

The last census took place in Iraq during the year 1997, showed that the number of Iraq's population of nearly 19 million people in all parts of Iraq except the provinces of the Kurdistan region of Iraq, whose officials estimated at the time that there are three million people living in the region.

http://www.aknews.com/ar/aknews/4/199069/