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

European Parliament announces a conference in Brussels on investment opportunities in Iraq in December

Baghdad announced that the European Parliament, Thursday, for a major conference in Brussels on investment opportunities in Iraq in December next, noting that it includes the fields of energy, agriculture and trade, as he emphasized that he will be invited to investment firms across Europe to participate in order to shed light on the opportunities in the country.

The chief relations with Iraq in the European Parliament Astruan Stevenson, in a statement received 'Alsumaria News,' a copy of it, he "stressed during his meeting with Iraqi parliament speaker Osama Najafi and an initiative to hold a major conference on investment opportunities in Iraq," noting It will be held on the fifth and sixth of December in Brussels next."

and add the Stevenson that "Iraqi President Jalal Talabani and European Commission President Portuguese Jose Manuel Barroso and President of the European Parliament Jerzy Buzek, Prime Minister of Poland Donald Tusk will attend the conference," noting that "will discuss the areas of energy and agriculture and trade in Iraq."

The Stevenson that "will be invited leaders of business and industry from across Europe to attend the conference to highlight the great opportunities in Iraq and creating new jobs and revitalize the Iraqi economy."

http://www.alsumarianews.com/ar/3/24...-details-.html

Shaways: Iraqi money spent by the Coalition Provisional Authority has shown the important dimensions of political, media and financial

Deputy Prime Minister Ruz Nuri Shawis the importance of the issue of Iraqi money spent has shown the Coalition Provisional Authority because of its political overtones, media, in addition to the dimensions of the financial and accounting, came during a meeting with the Deputy Inspector General, U.S. Ginger Cruz.

A statement by the Office of Shaways that Cruz provided an explanation actions by the U.S. side in order to know the details of disbursement of funds as well as funds that have turned to the side of Iraq after the end of the coalition, noting that there is coordination between them and the Iraqi Central Bank and Financial Control Office.

The statement said that Deputy Prime Minister is mandated under the chairmanship of the Supreme Committee for the development of protection mechanisms Iraq's money, which met twice during the last period in order to discuss this matter and to prepare a comprehensive and detailed report of these funds include all the facts and the facts.

http://ar.radionawa.com/Detail.aspx?id=10659&LinkID=63

Yasiri: Iraqi banks is not working in its name for fear of creditors to their money

The member of a coalition of state law, Abdul Hussein al-Yasiri to speed up the solution to the problem of Iraqi banks, which are still so far do not work in its name but operate through international banks.

Yasiri said in a statement "of the Agency news", it's so far of Iraqi banks is not working in its name, but working through banks other world, for fear of litigation it against her and thus take over their money.

He pointed out the importance of this subject, which is necessary for the government of urgency dissolved as soon as possible and before it is too late.

Iraq had decided since 2006, the restructuring of the banking sector to allow direct investment in banks and get rid of the heavy debt burden on the major banks owned by the state after decades of war and economic isolation.

http://ar.radionawa.com/Detail.aspx?id=10798&LinkID=197

Dutch Ambassador in Baghdad: We have more companies wishing to invest in Iraq and the Kurdistan Region

The Dutch ambassador to Baghdad, that the number of Dutch companies operating in Iraq and the Kurdistan region of currently 20 companies, stressing that there are more Dutch companies wishing to enroll in their counterparts in Iraq and the region.

According to Peter, Lyon, told the Kurdish news agency (Rn), "The number of Dutch companies operating in Iraq and the Kurdistan region of currently 20 companies," pointing out that "there are more Dutch companies wishing to invest in Iraq and the region."

Explained Leon, "The Kurdistan Region different from Iraq in terms of stability and availability of investment opportunities in addition to the facilities offered by the Government of the Territory of the companies invested in the region and economic policy is solid to be adopted by the region," stressing that he "will brief his government on the conditions of good to touch a woman in Kurdistan," and expressed "hope in the development and continuation of bilateral relations between his country and the region."

The Dutch Ambassador Peter van Leon arrived in the Kurdistan region a few days before the visit at the end of his duties, two years after his two years as ambassador for his country in Iraq, where he met with regional president Massoud Barzani and other senior officials in the government of the province.

http://www.aknews.com/ar/aknews/2/251999/

Exchange allocations food internal forces of Kurdistan this week

U.S. Undersecretary of the Ministry of Finance and the economy of Kurdistan, on Tuesday, the exchange allocations rather than food security forces, $ 210 thousand Iraqi dinars, equivalent to (175) U.S. dollars to start within the next two days.

He said precipitation in Taher's Agency ", the Kurdish news agency," that during the next two days will be lifted Help grant allocations instead of food for the security forces (police and security) to the Interior Ministry, in order to exchange allocations of $ 210 thousand Iraqi dinars for each member of those forces.

He noted that the allocations will be issued with retroactive effect as of the beginning of the year 2011, any employee has not received those benefits, Setslmha retroactively, but he had not yet been decided whether the accumulated amounts will be spent all at once or in installments.

http://ar.radionawa.com/Detail.aspx?id=10542&LinkID=197

Source: Iraq refuses to define its stance on U.S. withdrawal until after the completion of the implementation of the Erbil

A source from within the Iraqi List, said the list refuses to give her opinion on the subject of a U.S. withdrawal until after the implementation of all the terms of agreement Erbil.

The source said, told all of Iraq [where] that "Iraqi political blocs have stipulated that the implementation of all the terms of agreement Erbil against its opinion on the issue of U.S. withdrawal."

"The list is determined to thwart any decision of Prime Minister Nuri al-Maliki about the file of a U.S. withdrawal unless the implementation of the Convention of Arbil."

The political blocs have differed on the fate of the U.S. presence in Iraq and who is responsible for the extension part of the troops whether or not the House of Representatives and the Iraqi government or to be subject to political compromise.

Under the security agreement signed between Baghdad and Washington on the end of November of 2008 that it should withdraw all U.S. forces from all territories and waters and airspace of Iraq not later than 31 December of the year 2011.

The U.S. combat forces pulled out under the Convention of the cities, villages and towns of Iraq on 30 June 2009.

http://www.alliraqnews.com/index.php...6920&Itemid=86

Iraq strives to produce 12 million bpd of oil by 2017

Iraq is planning to produce 12 million barrels of crude oil per day (bpd) by the year 2017, through contracts signed with the world’s largest oil and energy companies, Iraq’s Deputy Prime-Minister, in charge of Energy Affairs, Hussein al-Shahristany said on Saturday.

“Everybody knows the significance of Iraq’s oil for the whole world and its importance to build and develop the Iraqi economy, along with raising the living standards of Iraqi citizens,” Shahristany said in a speech he delivered at the 3rd Iraqi Ambassadors Conference, held in Baghdad on Saturday.

Shahristany said that Iraq had signed contracts with three leading international companies to develop its oil fields in the south, center and the north, and their activity is going on now in a good manner, with a hope that Iraq’s oil production would raise to 12 million bpd by the year 2017.

“This does not necessarily mean that Iraq would produce such a large quantity of crude oil, because the Iraqi strategy depends on boosting revenues and not only increasing oil exports alone; so we shall watch the market and the level of the quantities of crude Iraq will produce, and then we shall decide Iraq’s highest level of revenues during the forthcoming years,” Shahristany said.

http://en.aswataliraq.info/Default1....&id=143785&l=1

Iraq to Return to Pre-War Oil Production Levels

Sources say Iraq signed a deal with Royal Dutch and the Japanese company Mitsubishito collect $12 billion dollars worth of gas from the southern fields. A dispute between the Ministry of Oil and Mitsubishi had delayed the project, which was initially drafted in 2008, and awarded in 2009.

The project, called the Basra Gas Company, is at the forefront of Iraq's plans to modernize power plants and increase oil exports. The Iraqi government has 51% ownership of the project. Iraq suffers from persistent electricity shortages. The mission of the Basra Gas project is to collect gas to feed new power stations.

Iraq loses a billion cubic feet of gas a day in southern Iraq. The project intends to plug the deficit and export the surplus. The contract period is for 25 years, during which time 700 million cubic feet of gas will be pumped per day in the following 3 southern fields: Rumaila, Gharb Qurna and Zubair.

Nuri al-Maliki, the Iraqi prime minister, expressed his country's readiness to supply Europe with oil and gas in the coming years. During al-Maliki's meeting with Jana Habascova, the ambassador for the European Union in Baghdad, he expressed Iraq's intention to establish good and balanced relationships with the European Union and the best way to further develop Iraq's oil fields with the use of European expertise.

Shell is a multinational British-Dutch company, and is considered the second biggest private company in the world. The company, founded in 1907, is headquartered in The Hague in the Netherlands, with a central office in London.

Iraq was a founding member of OPEC in 1925. The economy, dependent on oil, estimates oil revenues exceeded $20 billion dollars in the year 2000. Before the US invasion, Iraq produced less than 2 million barrels a day and had a refining capacity of 500 thousands of barrels.

http://www.zawya.com/story.cfm/sidZA...duction_Levels

Iraq key oil player in next 20 years: Shahristani

Iraq will be the key player in international oil politics over the next two decades, the country's top government official for the energy sector said on Saturday.

"If we continue along the path we are on, Iraq will over the next two decades be the country that sets oil policy in the world in terms of price, supply and demand," Deputy Prime Minister Hussein al-Shahristani said at a conference of Iraqi diplomats in Baghdad.

In 2009, Iraq signed 11 contracts with foreign energy companies to exploit its vast oil reserves and dramatically ramp up crude output to as much as 12 million barrels a day (bpd) by 2017, from around 2.7 million bpd currently.

And in October, the country reported a major increase to its crude reserves.

"The world cannot survive without oil and demand will increase by 20 million barrels per day in the next 20 years," Shahristani, a former oil minister, said in his speech at Iraq's foreign ministry.

"Our country has entered the market at the right time because demand will increase, because the world needs more oil and no country can provide this other than Iraq."

Iraq's projections are at odds with those set out by the International Monetary Fund, which expressed doubt in March over the country's ability to meet its long-term targets for oil ouput and said output could rise to more than five million bpd by 2017, rather than the 12 million Baghdad estimates.

http://www.zawya.com/story.cfm/sidAN...s__Shahristani

Forum calls for exploiting Iraq oil potential

Leading officials and industry executives seek the next phase of developing Iraq's oil and gas resources as well as the current and future upstream opportunities.

In the fifth annual Iraq Petroleum Conference in London, international oil and gas companies from 70 countries, as well as key Iraqi oil and gas industry experts, explored Iraq's resource and business potential.

In his presentation titled "Iraq's Petroleum Potential: Policy Challenges Ahead," Crescent Petroleum CEO Majid H. Jafar said that, on a global scale, and even with conservative estimates for oil demand growth, the world will need the equivalent of a new Saudi Arabia every 5 to 7 years, and that Iraq is perhaps the last untapped source of high potential and low cost oil on earth.

Speaking during the opening day's first session on Iraq's new government upstream strategy, he said: "Looking forward, the challenge for us is to maximize the revenues of Iraq's massive energy reserves and potential, while responsibly deploying them in order to develop a diversified economy and wider prosperity for the Iraqi people."

http://www.zawya.com/story.cfm/sidZA..._oil_potential