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

The Iraqi government is considering the amended version of the draft law of oil and gas

The Energy Commission in the Iraqi Council of Ministers chaired by the Deputy Prime Minister Hussein Shahristani said Friday that it received the amended version of the draft law of oil and gas and is studying it in preparation for submission to the Cabinet and then sent to the House of Representatives.

The oil imports about 95% of Iraq's budget, but so far no country's law to regulate its affairs, despite the conclusion of many of the energy contracts with international companies to develop Iraqi oil fields.

The director of the Information Office of the Deputy Prime Minister for Energy, Faisal Abdullah, told the Kurdish news agency (Rn ) The "Committee for state energy component from the Ministries of Oil, Electricity, Environment and Water Resources received a revised version of the draft law of oil and gas and will study them and make the necessary adjustments and then referred to the Cabinet again."

He added that "the meeting of the state energy, which was today confirmed the need to accelerate the adoption of oil and gas law to regulate the export of oil and extraction in the next stage," noting that "the Committee's next meeting next week will present members of the Committee observations on the version amended by the Law of oil and gas."

http://www.aknews.com/ar/aknews/2/249551/

Najafi: the withdrawal of U.S. troops from Iraq is linked to visions of the government of the country's interests

The head of the Iraqi parliament, said the withdrawal of U.S. troops from Iraq is linked to interests identified by the government. The Osama Najafi, during a press conference held Thursday in the building of the Iraqi parliament in Baghdad, and was attended by the correspondent of the News Agency of Kurdistan (Rn) , that "Iraq is a state of institutions and sovereign," stressing that "the issuance of any decision on a withdrawal of U.S. troops from its territory must be an Iraqi decision in the first place," adding that "the withdrawal of those forces associated with interests determined by the Iraqi government."

He, Najafi "if the government decides that the stay of American troops on Iraqi soil in order to train security forces in the interest of the country and received the resolution the approval of Parliament should everyone then respect that decision," pointing out that "if the Iraqi government decided otherwise, it must be lead to a worsening situation in the country."

http://www.aknews.com/ar/aknews/4/249521/

Chairman of the investment: building a five star hotel in Kirkuk

said Falah al-Bazzaz chairman of the investment of Kirkuk in a statement to "Khandan" The Investment Commission of Kirkuk has given license to build five-star hotel in the province of Kirkuk.

The head of the project that it will be through investment, the first of its kind in Kirkuk will be one of the projects deals in the province.

and on the details of the project, said Falah al-Bazzaz chief investment Kirkuk: "The hotel will be a five-star (15) floors and under the name of (Kirkuk Plaza)."

The administration of Kirkuk and agreed to build a residential number in the city, as well as building Malls, markets, hotels and other tourist areas through investment.

http://www.xendan.org/arabic/drejaa....ara=1379&Jor=1

Talabani and Jeffrey discuss activation of the strategic framework agreement
Presidential statement: Preparations under way to convene the second meeting between political leaders

Search by President Jalal Talabani, with the U.S. ambassador to Iraq, James Jeffrey ways to enhance cooperation between the two countries. He said a presidential statement received "morning," a copy of it, that the two sides discussed bilateral relations between Iraq and the United States and the need for expanded and Tedeidha, especially the future bilateral cooperation within the strategic framework agreement signed between the two countries.

and brought to the President during the meeting of light on the path of the current developments on the political, security, and Iraq's relations with regional and international, as well as its ongoing efforts to gather the parties and political leaders to ensure unity and achieving national harmony in the country.

The exchange of President Talabani and U.S. ambassador to the views on a range of other issues of common concern. and within the meetings continued, the President received at his residence in Baghdad yesterday afternoon, the first Deputy Prime Minister and the President of the National Dialogue Front, Dr. Saleh al-Mutlaq and his accompanying delegation.

And during the meeting exchanged views on political and security situation, service, and the emphasis on face challenges in the arena, through constructive dialogue and collect and unify the visions and the political will to overcome obstacles, leading to the development of emerging political process and to maintain the gains and achievements in all areas of the country. as on according to another presidential statement, evaluating the positive results resulted in a meeting of political leaders sponsored by President Talabani, as well as the preparations underway for holding the second meeting, to make it work to reduce the space differences and expand the spaces of understanding that would find solutions to the dilemmas and problems that hinder the political process, as pointed out President of the Republic to the need to focus attention on the demands and needs and essential services to Iraqi citizens who have fought and struggled greatly for the system of democratic, federal, and the formation of rational and maid to the aspirations of people of various Perigord, reiterating that the new Iraq belongs to all, and that the achievements should be for all the forces and masses and spectra without the marginalized and deprived of any of the these components. turn between Dr. Saleh Al-Mutlaq, said that efforts by President Talabani to always serve the interests of ensuring true national partnership and the embodiment of national harmony, in addition to consolidating the pillars of political stability and civil peace. and was accompanied by Dr. Saleh al-Mutlaq, Vice Prime Minister and President of the National Dialogue Front in the meeting, Mohammed Tamim and Minister of Education and Nada Jubouri Member of Parliament and Salah Muzahim Minister of State, in addition to a number of other members of the front.

It is said that the President had said after a meeting of political leaders, the first last week: "It was a successful meeting and good was it discussed two important .. first The presence of U.S. troops, where he was studying the subject of extensive and detailed study of all aspects of the troops to stay or not stay, and where the need for trained and how the number of trainers. It was also agreed after an exchange of views on a special session to take a political decision in this regard by the forces that contributed to the discussions.

and increased Talabani that he "was also a research regarding the general political situation, where it was decided, the meeting first, to stop media campaigns immediately, and abide by past including the initiative of President Barzani and the Convention of Arbil and work for the implementation of these agreements quickly, with another meeting, where we hope he can, Dr. Allawi's presence for the final decision in the form of understandings that exist."

He said: "Further research has been conducted extensively in security, was emphasized need to work to achieve national harmony destruction as a prerequisite for achieving security, as discussed issues related to the readiness of the Iraqi armed forces and equipping, training, and the resulting decisions", pointing out that this "meeting was important first to end the estrangement and alienation, where for the first time, after these circumstances, meet with these parties to have a friendly and fraternal atmosphere and frankly discuss the outstanding issues."

http://www.alsabaah.com/ArticleShow.aspx?ID=9940

Iraq’s Oil Industry Under Attack

Iraq’s insurgents are targeting the country’s oil industry, according to a report by Joel Wing for AKnews. In June there were five attacks on oil-related infrastructure and personnel:

• June 5: Zubair oil field in Basra was attacked. Reports differ as to whether it was hit by bombs or rockets, but its oil storage facility was hit, setting its petroleum reserves on fire. The day before, Deputy Premier Hussein Shahristani who is in charge of the country’s energy policy had visited Zubair.
• June 15: Four bombs were found at the Daura [Duora, Dora] refinery in Baghdad. Officials said that it was an inside job, and several guards were arrested.
• June 22: A convoy carrying a delegation from the Iranian Oil Ministry through eastern Baghdad was shot at and two guards were wounded. The cars belonged to the Oil Ministry, and it was unclear whether the assault was aimed at the Iranians or the government vehicles.
• June 24: Baiji [Bayji, Beiji] refinery (pictured) in Salahaddin was bombed. First reports simply said an explosion occurred at the facility, which caused a fire that took four hours to put out. It was then revealed that the cause was a bomb that went off near a gas pipeline around 2:30 am, but which did not cause any major damage.
• June 27: a rocket was fired at the Shuaiba oil refinery in Basra, and the police found two other rockets before they went off.

These were the first attacks on Iraq’s petroleum sector since March, which points to a new campaign to undermine the nation’s most important resource.

The last time oil facilities were targeted was in March, when the northern Kirkuk-Ceyhan pipeline was bombed, closing it for five days for repairs. The fact that the Zubair field was hit and the Shuaiba refinery was targeted was also something new, as the southern fields, which hold the vast majority of Iraq’s reserves, have not been threatened for years.

http://www.iraq-businessnews.com/201...-under-attack/

Kuwait denies the waiver on joint oil fields with Iraq

denied the Kuwaiti government, on Saturday, reports that to overcome the joint oil fields with Iraq, accusing the parties unnamed attempt to destabilize relations between the two countries.

Ambassador of Kuwait in Iraq to the insured for the Kurdistan News Agency (Rn) "Kuwait has denied rumors of the intention of the Kuwait waive the oil wells shared between Iraq and Kuwait during the project implementation strategy of a giant to pull oil from Iraq's share."

A number of Iraqi media had quoted yesterday for members of the Iraqi Council of Representatives reports pointed to overcome Kuwait's quota of oil through the implementation of projects strategy on joint oil fields between the two countries.

He added that "Kuwait is seeking to normalize relations and friendly with Iraq are set out on the basis of respect for sovereignty and non-overtaking on the border and oil wells common."

He said, "Iraq and Kuwait agree on need to strengthen relations and the expansion of trade and not to be drawn to the remarks escalating and to resolve all effects and problems through discussions and dialogue."

http://www.aknews.com/ar/aknews/2/249736/

Iraq’s Assets Subject to Seizure?

The passing of control of the Development Fund for Iraq (DFI) to the Iraqi government may make the assets vulnerable to seizure. A lawyer for Kuwait Airways told Bloomberg in an interview that “the class of assets against which we can seek enforcement has expanded.” Christopher Gooding, a partner at London-based Fasken Martineau, said:

“Despite pleas to the contrary, Iraq is an extremely rich country … Its trading assets are available worldwide, and it remains our intention to seize Iraqi assets whenever and wherever they are available.”

Iraq amassed about $130 billion in debt under Hussein; it owes Kuwait about $21 billion and carries a significant debt to Qatar and Saudi Arabia. It continues to pay into the UN compensation fund.

“For anyone with unpaid debts with Iraq, this is a very significant development,” Stephen Fietta, a solicitor at Volterra Fietta in London, said in an interview.

Most legal jurisdictions recognize the ability of creditors to seize debtors’ assets as a means of debt enforcement. A sophisticated creditor may be able to track Iraqi cargo and try to seize it as it enters a port, or upon its discharge, he said.

“The risk might be minimized if the legal title was transferred by the Iraqi government before the oil was shipped,” Fietta said. “So there are ways around this, but the constant risk of seizure and enforcement can become a real headache for sovereign debtors, just as for private ones.”

http://www.iraq-businessnews.com/201...ct-to-seizure/

Iraq Receives officially files Development Fund and the end of eight years of international supervision by

Announced the Board of Supreme Audit for receiving files, the Development Fund for Iraq officially ended eight years of international supervision of the Fund.

A statement by the Court today: that a committee of financial experts Iraqis took over the file during the last meeting of the Council of the International Advisory and Monitoring Board on the Development Fund for Iraq in the Jordanian capital of Amman on June 30 the past.

He added that the meeting was an invitation from the Iraqi side, and the will of the Iraqi Committee of Financial Experts After this date, supervision and control of the alternative account of the Development Fund for Iraq, which contains all the export earnings of oil and its derivatives.

http://www.ipairaq.com/index.php?nam...onomy&id=40490

Cyprus Airways to Fly to Erbil

Cyprus Airways has added two new Middle Eastern destinations to its schedule, with flights to Erbil in Northern Iraq starting on 4th July, and flights to the Iranian capital Tehran starting on 7th July.

At Erbil the first four flights will be chartered and will operate with a frequency of one per week, but the expectation is to increase this frequency.

The opening of this new service is the result of cooperation between Cyprus Airways with the tourist agency MERJAN, which is among the largest in Northern Iraq.

Both destinations are completely new to the Cypriot market, which should have a positive impact on tourism

http://www.iraq-businessnews.com/201...-fly-to-erbil/

Security Council Welcomes Iraq’s Control of Development Fund

The United Nations Security Council welcomed the Iraqi Government’s assumption of full autonomy, with effect from 1st July, over the proceeds of a development fund set up after the 2003 United States-led invasion to meet the country’s humanitarian needs, economic reconstruction and infrastructure repairs.

In a press statement, the Council welcomed the Government’s establishment of a successor arrangement for the transition of the Development Fund for Iraq, in line with the United Nations body’s resolution 1956, adopted last year.

“The members of the Security Council noted that, in this regard, oversight of the full proceeds from the Development Fund for Iraq has been transferred from the International Advisory and Monitoring Board to the Government of Iraq’s Committee of Financial Experts, which will exercise authority in accordance with its terms of reference approved by Iraq’s Council of Ministers,” according to the statement, read out by Ambassador Alfred Moungara Moussotsi of Gabon, which holds the Council’s presidency in June.

The Council reiterated its appreciation of the ongoing efforts and commitment of the Iraqi Government to ensure that oil revenues are used in the interest of the country’s people, and to ensure that transition arrangements remain consistent with the constitution and with international best practices with regard to transparency, accountability and integrity.

“The members of the Security Council underscored the importance of Iraq’s continued compliance with relevant [Security Council] resolutions,” the statement added.

The Council set up the trust fund in May 2003 so that oil and other revenues could be paid into it, to be disbursed at the discretion of the then US-led Provisional Authority for humanitarian and economic reconstruction, replacing the previous oil-for-food programme that allowed the sanctions-bound government of Saddam Hussein to use some oil revenues for the monitored purchase of humanitarian supplies.

http://www.iraq-businessnews.com/201...elopment-fund/