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

Basra Investment: Swiss oil company develop a plan to build oil deposits in Basra

examined the Basra Investment Commission with the Swiss company Dome ways to establish a project repositories of petroleum products in Basra.

The director of the Company Secretary Djaverwe a press statement that the preliminary study of the project include construction of oil depots near the port of Khor Al-Zubair, and an area of ​​40 dunums of land, and the amount of investment of $ 250 million, for the purpose of developing the oil sector in Basra.

He added that the head of the Basra Investment demanded to provide a complete study of the project, for the purpose of the follow-up sectoral approvals, and the allocation of land for the project, for the purpose of completion of requirements for granting investment license for the project.

http://www.ipairaq.com/index.php?nam...onomy&id=37021

Sumaisem: lending to the central government will increase inflation

Economic expert said that the peace Sumaisem »Central Bank lending to the government will create high inflation rates and waste the positive changes that took place of the Iraqi dinar.

The Sumaisem in her statement to the (agency's news): «The government's borrowing from the central bank, will create high inflation rates and waste the positive changes that took place of the Iraqi dinar and the actual value, and also destabilize the confidence with which the State to pay its obligations to external parties».

She Sumaisem: »We strive to enhance the image of Iraq in attracting capital and investors, so this step will create in the minds of the receiver position hurt in Iraq and that he is not versed support and encourage investment, which impacts negatively on the economy».

http://translate.googleusercontent.c...4vQonCZ5g4tk3A

World Bank funded project to change the operational control stations in Dokan and Darbandikhan digital system

Iraq's Kurdistan region is witnessing the implementation of the project to change the system of operational control of the Dokan and Darbandikhan stations to generate electricity, relying on World Bank loans worth over 11 million euros.

Engineer Nawzad Hassan Qadir, field supervisor of the implementation of the project, the station Darbandikhan, said that the World Bank loan, including several decades, including changing the system of operational control station Derbandikhan electric power, which is one of the legacy systems and suffer from technical problems, in order replaced a number system Trendy for the three units of the station.

http://ar.radionawa.com/Detail.aspx?id=1887&LinkID=197

DNO boosts Iraq oil reserve estimate

Reuters reported that Norway's DNO controls 30% more oil in Iraq and Yemen than previously estimated.

DNO's biggest revision was in how much oil it expects to squeeze from its Tawke field in Iraqi Kurdistan 306 million barrels up from 230 million. It had no news on an Iraqi political dispute blocking payment for exports from the field.

Mr Trond Omdal analyst at Arctic Securities called the new Tawke estimate a major step up' and said there could be more to come. There could potentially be upside in both the oil in place and the recovery rate estimating DNO will ultimately get at least 400 million barrels from Tawke.

DNO based its Tawke revision on an increase in the portion of oil in place it thinks it can recover. It now sees 21.3% as recoverable compared with the 16.6% assumed in 2007. Many similar fields in the region have recovery factors in excess of 30%.

Mr Tom Bratlie spokesman of DNO said that the company had nothing to report on contentious talks between Baghdad and the Kurdish regional government over how to structure payments to DNO and other oil producers in Kurdistan.

http://www.steelguru.com/middle_east...te/198562.html

Turkish and Iraqi oil pipeline agreement concluded

Mr Hussein al Shahristani deputy PM for energy affairs of Iraq as saying that the pipeline running between the oil fields of Kirkuk and the Turkish port of Ceyhan is ready for operation after the two countries' parliaments endorsed amendments to the bilateral convention governing it.

The 960 kilometer Kirkuk Ceyhan pipeline consists of two parallel pipes with a capacity to carry more than 600,000 barrels of oil per day to Turkey's Mediterranean port. The pipeline that carries a quarter of Iraq's crude exports was attacked by insurgents in the Hadar area of Nineveh province at the beginning of March temporarily halting the oil flow. Details of the amendments to the bilateral agreement between Turkey and Iraq have not been disclosed.

Mr Shahristani said while speaking at a press conference following his meeting with the Turkish energy minister and two Turkish energy firms in Baghdad that the Turkish side has agreed to supply Iraq with electricity via the Syrian grid, adding that further meetings next week will be held to discuss the logistics of the deal.

He said that another investment deal concerning the construction of the 750 MW Nineveh power stations had been signed due for completion in 2012. The new power station would enter into service alongside the Khairat network in Karbala during the summer of 2012 so that the processing rate of the two stations will reach 2000 MW.

Mr Taner Yildiz energy minister of Turkey spoke of his country's intention to play an active role in the resolution of Iraq's electricity crisis. He said that there will be a special meeting between me and the private Turkish companies to discuss the possibility of their investment in Iraq in this field.

According to government figures, the energy currently available to Iraq is around 9,000 MW of energy while demand is estimated at up to 14,000 MW during the summer months.

Iraq's power stations and distribution networks, already suffering from years of neglect attributed to the economic sanctions imposed on the country by the UN in 1990, were badly damaged during the allied invasion of the country in 2003 and by repeated acts of insurgent sabotage thereafter.

The Iraqi government had previously announced plans to increase the country's generative capacity to 27,000 MW over the next four years, requiring an investment of between USD 3 billion and USD 4 billion per year.

The majority of households across the Iraqi provinces currently receive between 6 and 8 hours of national electricity each day. This poor provision of electricity has been one of the main grievances of protestors in the wave of public demonstrations that have swept through Iraq over recent months.

http://www.steelguru.com/middle_east...ed/198553.html

Krblaiion criticize the Iraq policy of economic and describe it as random

The number of residents of the province of Karbala on Monday, economic policy, followed by Iraq at the present time, through the adoption of entirely on the export of petroleum and neglect of industrial and agricultural sectors, thus adding to the unemployment crisis in Iraq and the failure of artisans and peasants , describing the erratic economic policy.

Iraq has been a big drop in agriculture and industry, and although the consumption of imported goods has overshadowed the domestic production after dumping the commodity in the market in various goods, and the origins of many.

He said the citizens expected Mahmoud (27 years), a university student, told the Kurdish news agency (Rn): "Iraq was earlier largely depends on what produced locally, but now neglect is intentional for artisans and peasants led to significant losses in domestic production, and Iraq has become dependent total imports in the annual financial on oil exports, and this itself is random, "according to the recipe.

He continued, that "the reasons for the failure of economic policy in Iraq, his lack of science and technology and recent research in the development of agricultural and industrial sectors, and must therefore Iraqi universities and institutes graduation specialist cadres to these sectors vital, and what we see is contrary to the case in countries advanced, as Iraq has become None Flahieddin or craftsmen, which will face a major economic crisis if policy remained unchanged in arrears. "

He pointed out that "Iraq needs to enter the investment companies for the construction of economic sectors, and such companies will work on the operation of advanced labor, and education as well as Iraqi technical personnel on how to develop and increase industrial and agricultural production."

As shown information flowers Canada's (Rn) that "Iraq has become totally dependent on oil imports and the neglect of other resources, especially in industry, where we did not find on local products as a result of lack of support for the factories of public and private, and turning Iraq from the producer to the consumer plunges goods imported. "

She said that "the task of the Iraqi government to support artisans and peasants, as well as a calendar of youth and push them to production and employment, especially with the lack of manpower, and therefore lack of domestic production and neglect of fertile agricultural land."

Canadian confirmed that "weak economic policy in the country would spell dire consequences on the future of Iraq if he remains dependent on oil, not to mention the migration experiences of Iraq to Western countries and developed, after the neglect and injustice suffered by him in Iraq."

For his part, teaching in the field of economics Messenger visit; in his speech (Rn) that "the weakness of economic policy in the face of the current crises has led to the neglect of the vital economic sectors and declining domestic production, have affected the political interests and factionalism heavily on the economy and if there are plans secret to destroy the economic infrastructure of Iraq in order to yield a final. "

He explained that "This policy is weak economic might revert to enter the country during the former regime conflicts with neighboring countries, and that the imposition of the sanctions led to a decline in the production sector of industrial and agricultural, as opposed to what it was in the sixties of the last century the prosperity of agriculture and building factories diverse neglected and hit the wall, "as he put it.

The visit, that "should the current government economic policy right out of the crisis and meet all global crises that have hit the Iraqi economy, by building modern plants and support the artisans, peasants and the activation of the agrarian reform law in order to eliminate unemployment and building a strong economic base off from the factory and the earth. "

In the opinion of Karbala governor hopes of religion cat that "investment companies to enter Iraq will contribute to building diverse sectors."

And the cat in his statement to (Rn) that "there is a failure in the investment process in the country, has decided to Karbala for a change and changes in policy and administration of the investment, in order to embrace the efficiencies that would accelerate the investment process and construction in the province."

http://www.aknews.com/ar/aknews/2/229388/

Iraq Oil Exports Down 2% on March

Iraq’s crude oil exports fell 2% in March to 2.159 million barrels a day, from 2.202 million barrels a day in the previous month, due to several days of bad weather at the Southern terminals, and damage to part of the northern export pipeline from an act of sabotage, Dow Jones Newswires reports.

A senior Iraqi oil official, Falah Alamri, told the agency on Sunday that revenue from oil sales exceeded $7 billion, compared with $6.064 billion in February, as the average selling price increased from $98.44 per barrel to between $106 and $107 per barrel.

Exports from southern terminals averaged 1.687 million barrels a day, compared with 1.708 million barrels a day in February; 472,000 barrels a day were exported from Kirkuk and Kurdish oil fields in March (or 462,000 according to Reuters), compared with 494,000 barrels a day in February.

Rather than focusing on the daily average, AKnews has highlighted the increased monthly total of 66.929 million barrels (up from 61 million), and attributed the increase to “stability and lack of technical issues”, rather than to the longer month.

http://www.iraq-businessnews.com/201...wn-2-on-march/

Senior officials in the Oil Ministry accused al-Shahristani, control of the ministry

Facing the Iraqi Deputy Prime Minister for Energy, Hussain al-Shahristani criticized staff accuse him of leading the first coming in the Ministry broad powers under the age find an internal system of the Council of Ministers defines the powers of the Vice-President of the Government. Like al-Shahristani told parliament yesterday along with Minister of Electricity to find out the plans in place to develop the oil industry and electric in the country. Sources in the Ministry of Oil «life» that «there are rumblings of discontent from the way the ministry after the formation of new government ». She added that «al-Shahristani, still controls and manages the ministry after assuming the post of deputy prime minister for energy affairs ». She pointed out that «the new oil minister Abdul Karim defect can not take any decision without prior approval of the al-Shahristani, familiar with the daily mail for the oil ministry, especially regarding contracts, conferences and movements , which raises the ire of a number of general managers in the Ministry».

Attribute the deputies in the parliament controlled by al-Shahristani, the Oil Ministry to the absence of rules of procedure of the Council of Ministers defines the powers of the prime minister and his deputies and ministers.

Shahristani is facing criticism for years of political blocs on the handling of the Ministry and to review the permits oil to a number of foreign companies last year, sparking resentment of the parliament has not ratified by parliament. He said al-Shahristani, in a timely manner so that the validity of the ministry and do not require approval by Parliament.

The President of the Assembly of the legal culture in Iraq, Tariq Harb that the Constitution did not regulate the powers of the Vice-three presidencies (the Republic and the Ministers and the Parliament).

The war in connection with the «life» that «the Council of Ministers did not pass until the moment its rules of procedure and there is a clear mandate to the three deputy prime ministers, and therefore they derive their powers and size of the Prime Minister on the one hand and competence».

According to a senior official at the Council of Ministers in connection with the «life» that «in writing the rules of procedure of the Council of Ministers and reached to the end and will be presented to the Council of Ministers for a vote and entered into force ». He noted that the rules of procedure of the Council's work will be organized and the powers of president and his deputies and ministers.

http://www.wasatonline.com/index.php...-54&Itemid=123

Iraq asks Turkey to set up oil transit line from the new

Turkish official source said on Monday that Turkey had expressed its willingness to re-establish Iraq's oil pipelines at the request of Iraqi officials, according to the agency of the Turkish news agency reported.

The Anatolia news agency quoted Director-General of the Company (BOTAŞ) the Turkish government for the transfer of oil Fadel Channel as saying that "Prime Minister Recep Tayyip Erdogan held important meetings during his visit to Iraq last week."

He said Channel, saying that "Iraq has issued its oil through the Kirkuk pipeline - Ayumortalk through tubes width of the first 40 and second 45 inches," explaining that "second-line works normally but the second depends on the pump because of Alsaddae which resulted from lack of use for a long time as a result of wars witnessed by Iraq. "

Channel noted that "Iraqi officials have asked Turkey's help in establishing a line of new oil pipeline and we have expressed our readiness to meet the request and we'll create a new line from the city of Kirkuk to the Turkish border."

Channel revealed the idea of ​​an Iraqi oil pipeline from Basra to the city of Zakho border Basra to pump oil through the Turkish territory, "and expressed hope in the implementation of this idea, which he considered still at the stage of the project."

The length of the tube and reaches 960 km oil-rich Kirkuk and the port of Ceyhan oil tankers and then transferred to world markets from the Mediterranean Sea.

Iraq has the third oil reserves in the world is estimated at 115 billion barrels after Saudi Arabia and Iran. With its production of crude oil, about 2.4 million Bermia per day currently.

http://www.aknews.com/ar/aknews/2/229441/

Oil: We will complete the translation of oil licensing rounds to Arabic within two weeks

confirmed the Contracts and Licenses in the Ministry of Oil that it will complete the translation of the second oil licensing round from English into Arabic during the next two Alasusin.

The Director of Legal Affairs and Trade in the Department of Contracts and Licensing at the Ministry Sabah al-Saadi told a news briefing that the Department contracts and licenses in the ministry adopted the translation of all contracts of licensing rounds, the first and second signed with international companies from English into Arabic.

He added that when you complete the translation of the second licensing round will start the translation department first round of licensing contracts that were delayed.

Saadi said that the ministry has previously after signing the contracts for licensing rounds, the first and second Torgompacod announce a tender for the licensing rounds from English into Arabic.

He said a committee of the Contracts checked the translation of an office the winning tender for the translation of licensing contracts, the first and second, I discovered the existence of big mistakes and did not conform to the meaning in formal contracts, and the difference in terminology for the oil sector.

Saadi explained that the Department contracts and licenses in the ministry started the translation into Arabic of these contracts and completed a large part of them, it is hoped to end the translation of the second licensing round during the next two weeks, immediately after the translation of the first round of licensing contracts.

The members of the Committee on Oil and Energy called for a parliamentary translation of licensing rounds held by the Iraqi side to the Arab.

http://www.ipairaq.com/index.php?nam...onomy&id=37534