Thread: Archive News - Iraqi Dinar Think Tank - 24/01/201 - 23/07/2011

Central Bank of Iraq: Iraq has succeeded in providing cover for foreign currency

The Central Bank of Iraq adviser said on Thursday that the bank has succeeded in providing financial cover for foreign currency in addition to that he managed the success of price stability of the Iraqi dinar.

He said the appearance of Mohammed Saleh told the Kurdish news agency (Rn) that "the Iraqi Central Bank was able to success by providing a cover for foreign currency, notably in successful monetary policy and compatible with the nature of the Iraqi economy."

He added that "monetary policy pursued by the Central Bank of Iraq focuses on the need to deepen the financial system in Iraq through the revitalization and modernization of a permanent Iraqi banks and other financial institutions."

He explained that "the Bank is working according to the vision of monetary and financial fit with the nature of the Iraqi economy and consistent with the general structure of the international economy that Iraq follow the steps in the economic advancement of the World as part of the global economy, not isolated him."

The Central Bank of Iraq in the second of February last that the Board of Finance Sitoss payments in 2013, according to the plan developed by the Central Bank.

The central bank last week that the government and private banks began using the electronic clearing system.

And the World Bank allocated $ 10 million to restructure state banks and activate the electronic dealings.

Announced earlier in the unit restructuring Iraqi banks for that unit has been extended and banks for a period of one year because of security concerns.

Iraq had decided in early 2006 to restructure banks in order to get rid of heavy debt.

The Ministry of Finance of Iraq for its efforts during the next year to develop an integrated plan to develop e-government banks and financial relations in the activation of this aspect.

The Iraqi government is still limited in its financial transactions on the government banks approved by 85%.

And called on the Ministry of Finance earlier in the Iraqi Central Bank to take resolute action in granting licenses for the establishment of private banks.

http://www.aknews.com/ar/aknews/2/224125/

Iraq may auction 4th mobile license this year

Iraq's communications minister has said the country hopes to auction a fourth mobile phone operator license for around $2bn by the end of the year, Reuters has reported. "What we have decided about the fourth license is to divide it into three main shares," Mohammad Allawi said. "40% of the shares (will go) to the operator, 35% of the shares to the public, and 25% of the shares to the ministry."

http://www.ameinfo.com/258810.html

President of the Russian company Lukoil: the company's work in Iraq being in accordance with the schedule

He single Alakbarov president of Lukoil, Russian oil Russian company working in Iraq are in accordance with the schedule.

The correspondent, ITAR - TASS Russian in Washington Alakbarov saying we started work and we have built housing for our employees and contractors to almost a thousand people. We have begun to provide the necessary conditions for workers in the oil fields and building roads. And conduct all business according to the schedule.

The President of Lukoil that is likely to visit Baghdad and Basra at the beginning of next April. He said I will meet with the Iraqi leadership to decide what next steps we must take so that we can develop strategies performing very strongly.

And re-Alakbarov to mind that his company does not operate in Libya, and expressed his hope that the excessive noise on the events in this country will end soon and stabilize oil prices, a reasonable level of between 90 and 110 dollars a barrel, according to his opinion.

http://www.ipairaq.com/index.php?nam...onomy&id=36242

Sabotage the pipeline Kirkuk - Ceyhan oil and reform takes days
Company sources said the NOC that the explosion caused the interruption of the flow of oil pipeline in Kirkuk - Ceyhan on Wednesday ...

The spokesman for the Iraqi Oil Ministry said a bomb attack in Nineveh province in northern Iraq caused the interruption of the flow of oil pipeline in Kirkuk - Ceyhan oil pipeline.

He added that it expected to resume oil exports through the pipeline within "a few days" after the repair the damage done to him.

The export rates through this line ranged between 450-550 thousand barrels per day.
The ministry spokesman said on Thursday that reforms in the pipeline between Iraq and Turkey will take up to five days.

He added: "Everyone knows that the oil sector as the target of this method to stop the economy in Iraq."

An official at the North Oil Company is expected to take the reforms three to four days.
And exposed the oil infrastructure in Iraq, repeated attacks since 2003, which hinders the country's efforts to promote production and exports of oil above the levels that existed before the invasion, led by the United States in that year.

And repeated attacks on the pipeline, which runs from the Kirkuk field in northern Iraq to the Turkish port of Ceyhan on the Mediterranean seafront. With a capacity of 1.6 million barrels.

Line the Iraq-Turkey oil export saw in 2009, nine attacks launched by armed groups and occurred mostly in the region from Bayji, through the juvenile Shirqat access to the area of ​​Ain Zala in the vicinity of the province of Nineveh, and the North Oil Company, about 996 oil wells, 18 wells, gas divided by Eight wells field AGIL-120 km southwest of Kirkuk, and six in the fields Jambour, 30 km south of Kirkuk, four within the field of Akash in Anbar province.

http://www.irqmedia.com/siteapps/352...atest&Itemid=1

Iraqi Oil: We will double the flow through the Ceyhan pipeline after repair

The Iraqi Oil Ministry on Saturday it would double the amount of pumping oil through the pipeline carrier to the Turkish port of Ceyhan to fill the shortfall in the reserve tanks in the port due to suspension of pumping tube after being exposed to bombing two days ago.

"Asim Jihad, spokesman for the Ministry of Oil, told the Kurdish news agency (Rn) that" the ministry will double the amount of oil that is pumped through the pipeline to Ceyhan compensate for the shortfall in the reservoirs because of the backup after it stopped pumping tube malfunction ".

The NOC announced two days ago, on exposure of the Kirkuk - Ceyhan was attacked by an improvised explosive device in the urban area near Mosul led to the outbreak of the fire was stopped pumping through the pipeline, which Turkey and destined for the fourth movement of Iraqi oil exports.

Jihad said that "the reservoirs from which a backup of Iraqi oil in the Turkish port of Ceyhan has been used as an alternative reserve for the continuation of the export oil without stopping."

And identified the Oil Ministry recently five days to repair the roof opening time of the tube.

Asim said that "the Iraqi Oil Ministry will increase the amount of oil being pumped through the pipeline after the completion of repair."

And repeated armed attacks that target the oil infrastructure in Iraq, at a time when the Iraqi government to increase exports above the levels that existed before 2003.

He pointed to the Jihad, "This pipeline is the transfer of more than 400 thousand barrels per day to be exported through the Turkish port of Ceyhan."

And subjected the pipeline, which runs from the Kirkuk field to the Turkish port of Ceyhan on the Mediterranean seafront to similar attacks since the fall of the former regime.

The spokesman for the Ministry of Oil and the need to "repair the pipeline before you run out the amount of oil stored in reserve tanks in the port of Ceyhan."

The Turkish port of Ceyhan is the second major port in Iraq to export oil after the first port in the south.

The Baiji refinery has stopped working late last month after coming under armed attack and the killing of two engineers and the bombing of one of its units.

Iraq produces about 2.6 million barrels per day of oil, emits more than two million, but these rates are still lower than those during the former regime.

Oil accounts for 94 percent of the country's revenues.

http://www.aknews.com/ar/aknews/2/224636/

11/03/2011 22:29

Of the oil and gas hold parliamentary meeting tomorrow (Today) to determine the problematic oil law

A member of the Commission on oil and gas representative, on Friday, that the members of the Committee will hold a meeting tomorrow to determine the problematic law, oil and gas, and the points at issue on them, indicating that the Commission intends to present the law to the House of Representatives in the coming weeks.

He said Furat al-Shara told the Kurdish news agency (Rn), said that "the oil and gas in the House of Representatives held a meeting yesterday to develop mechanisms for identifying precedence in finalizing the laws," noting that "the Committee will be held on Saturday a meeting to determine the problems the law of oil and gas."

Shara explained that "the Commission is determined to develop solutions to some of the paragraphs at issue in the law with a view to submitting it to the House of Representatives for a vote," expected that "the end of its preparation of the law during the coming weeks."

And ratified the Council of Ministers of the former Iraqi in February 2007 on the law of oil and gas, with appendices and referred to the House for discussion and voting thereon, except that the first reading has been met with criticism and objections of some political forces in the House of Representatives, prompting the Presidency to throughout the presentation to the Council.

And the failure of the previous board after 2007 to modify the disputed paragraphs in the law, which was the eligibility of the regions most notably the contracting of foreign oil companies and the role of the Federal Ministry of Oil in the management of oil wealth.

The oil contracts signed by the Kurdistan Regional Government with foreign companies of the most outstanding issues between Baghdad and Erbil, in the time that says the Iraqi Oil Ministry that the contracts of the territory are illegal because they do not have the right led to the conclusion, emphasizes the territorial Government that the Constitution conferred the right to conclude contracts.

Economists believe that the Iraqi Council of Representatives amendment to paragraph (IV _ c) of Article 18 relating to Binatth mechanism contracting foreign companies to the Federal Council that it would disrupt Iraq's status in the Organization of Petroleum Exporting Countries, which Iraq is a member of the specialization of the Ministry of oil exclusively, and the granting of Federal Council and the oversight function for mechanism of action of the oil ministry and its affiliated bodies.

http://www.aknews.com/ar/aknews/2/224471/

Oil and gas representative: Representatives will cancel the deal crutch oil field investment

A member of the Committee on the oil and gas in the Iraqi Council of Representatives, Saturday, The House of Representatives will cancel the deal investment field crutch to the problems of administrative and financial harm the country's oil policy.

He said Furat al-Shara told the Kurdish news agency (Rn) that "the oil and gas will examine on Sunday held a crutch oil field, which was raised on it many of the problems between the ministry and the Council of Anbar province."

The Committee announced that the parliamentary oil and gas in February 27 last it will review all contracts for the three licensing rounds.

He added that "80% of the members of the House of Representatives in favor of a deal to cancel investment crutch oil field, and the search for a new mechanism for investment, but they are awaiting a detailed report of the Commission on oil and gas in this regard will hopefully be completed this week."

And postponed the Oil Ministry to sign the letters to be the first to hold the cane field gas with a consortium of Korean companies and the Kazakh indefinitely.

Previously, the Council of Anbar province to express displeasure at the signing of the contract to develop gas field crutch, expressing his fear of gas export routes.

Shara added that "the Committee will study the detail on the mechanism for investment in oil field crutch, and will show the most important problems facing the oil and economic policy in the event has been activated and began its work effectively."

House of Representatives did not succeed in passing the previous Bdorth oil and gas law, which was expected to rise if approved oil situation.

He called economists earlier, the need to enter the Iraqi Council of Representatives an amendment to paragraph (c) of Article V of the oil and gas law relating to the establishment of the Federal service and voting upon the objective of regulating the oil wealth in the country, and limited function of the Federal service to supervise the mechanism of action of the Ministry of Oil and regulate the relationship between them and the provinces.

As indicated in paragraph (c) of Article V, to the formation of the Federal Council of oil to facilitate the tasks of the Council of Ministers with regard to passage of petroleum policy and plans resulting from them, which is prepared by the ministry in coordination and consultation with the regions and producing provinces, as well as for the development of instructions required to enter into exploration and production contracts under Article No. 9 of the Act establishes a cabinet body called the (Federal Council for Oil and gas) the Prime Minister or his deputy to chair, and its membership includes both of the Ministers of Oil, Finance, Planning and Development Cooperation in the Federal Government, and the Governor of Central Bank of Iraq, and a representative from each province the rank of minister, and a representative from each province produced regularly in the province, and the executive heads of major oil firms with a relationship and that including the Iraqi National Oil Company and the oil marketing company, specialists with oil and gas, finance and economy, not more than three, to be appointed for a maximum of five years by a decision Council of Ministers.

And announced that the Iraqi Oil Ministry in September last year 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 of oil. And established the Iraqi Oil Ministry three rounds of investment licenses to oil fields and oil development. Plans to increase Iraq's oil exports during the next six years to 12 million barrels per day, after obtaining the approval of the world's oil (OPEC).

The Council of Anbar refused to export gas field crutch, which is estimated reserves at 2.1 trillion cubic feet, but after being processed within the province, threatening to suspend its work in the absence of the federal government's response to the demands of the Council. The third round of licenses for the fields of invasive ended transmit crutch field in Anbar province, to a consortium (Kocaz Korean, Kazakh Munai Kaz) divided equally between them, but the Iraqi oil contract delayed the signing of the investment.

http://www.aknews.com/ar/aknews/2/224540/

U.S. Embassy in Baghdad calls for amending the Iraqi investment law

Demanded that the U.S. embassy in Baghdad to amend the current investment law, set out at the same time near the return of U.S. companies to work in Iraq.

Thomas Prunan commercial attache at the embassy said in a press statement that "the Iraqi investment law contains some gaps, and that the most important problem is the question of ownership of property rates for foreign companies," adding, "The Iraqi government is trying to modify it to be similar to the laws of investing in other countries."

He explained that "trade relations US-Iraqi grow month after month, and there are facilities to Iraqi businessmen to participate trade fairs held in the United States," adding that "American companies have already started work in Iraq, and opening some offices, including Honeywell electrical equipment company Harris Telecom. "

http://www.radiodijla.com/cgi-bin/ne...?id=2011-03-12

Economic plans parliamentary legislation law to regulate the private sector

The member of the Economic Committee in the House of Representatives Salman al-Moussawi that the Parliament is working on private sector development, commensurate with the economic situation in the country and address the part of the problem of unemployment in Iraq.

Al-Moussawi said that the parliamentary Economic Committee will examine the laws to be followed in countries similar to Iraq's economic environment and to try Law legislation regulating the relationship between workers on the one hand and the owners of companies and investors on the other hand.

http://radionawa.com/Ar/NewsDetailN....133&LinkID=155

The discovery of new oil field in the district of Soran's Erbil

Soran said Mayor of the province of Arbil Kermanj attributed the discovery of an oil field in the plain continued to eliminate by a panel of oil experts and local Bulgarian company, noting that the field can be from the fields in the province owned by the stocks of oil.

He said in a press statement attributed to Caleb Bulgarian company is currently working in a number of wells drilled in the vicinity of the Iranian border, and the Ministry of Natural Resources in the Kurdistan Regional Government to conduct field studies to complete the process of field survey and start extracting oil from the wells.

http://radionawa.com/Ar/NewsDetailN....155&LinkID=155