Thread: Iraq/Dinar News. (before Jan.20,2007)

Voices of Iraq
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النفط - قانون
Oil-Lawكتب: santiago في يوم الخميس, 18 يناير, 2007 - 09:54 PM BT
Santiago wrote : On Thursday, January 18, 2007 9:54 PM-
Final draft of a bill to put oil to the Cabinet next week.[/COLOR]
بغداد-( أصوات العراق)
Baghdad - (Voices of Iraq)
قال وزير النفط اليوم الخميس إن المسودة النهائية لقانون النفط ستطرح الاسبوع المقبل على مجلس الوزراء للمصادقة عليها ليتم رفعها بعد ذلك الى مجلس النواب لاصدار التشريع بعد المناقشة عليه.
Oil Minister said today, Thursday, that the final draft of the oil law will be presented next week to the Council of Ministers for approval to be sent later to the House of Representatives for the passage of legislation after debate it.
وأوضح حسين الشهرستاني في بيان صدر اليوم ، وتلقت وكالة أنباء ( اصوات العراق) المستقلة نسخة منه ، إن مسودة القانون ستطرح عل مجلس الوزراء بعد أن حصلت على موافقة لجنة الطاقة في المجلس بالاجماع بعد إدخال بعض التعديلات.
The Hussein Shahrastani, in a statement issued today, and received news agency (Voices of Iraq) independent copy, that the draft law put upon the Council of Ministers after it got the approval of the Energy Council unanimously adopted with some amendments.

واضاف البيان أن " القانون يؤكد على ان الموارد المتأتية من مبيعات النفط ستذهب الى صندوق مركزي واحد وتوزع على جميع العراقيين في الاقاليم والمحافظات وعلى نسبة السكان."
The statement added that "the law affirms that the resources derived from oil sales will go to fund one centralized and distributed to all Iraqis in the provinces, prefectures and the proportion of the population."

وأشار إلى أن " القانون سيعيد النشاط لشركة النفط الوطنية التي ستكون المسؤولة عن تطوير الحقول وزيادة الانتاج والتصدير وستكون الصناعة النفطية الاساسية بيد الكفاءات العراقية الحريصة على أن تقدم خبراتها للشعب."
He pointed out that "the law will restore activity to the National Oil Company, which will be responsible for the development of the fields to increase production and exports and will be the oil industry, however, the basic competencies Iraqi keen to make their experiences of the people."

وأضاف أن " القانون سيسمح بطرح عقود على الشركات النفطية العالمية الكبيرة بعد ان يتم التأكد من رصانتها وأن تقبل التنافس لتطوير بعض الحقول على ان تحقق اعلى مردود للعراق ، وستكون المنافسة معروضة للجميع ولن يتم النظر لجنسية الشركة بل يجب ان تكون الشركات مؤهلة تكنولوجيا لتطوير حقولنا وباسرع وقت ممكن."
He added that [COLOR="Red"]"the law will allow offering contracts to large global oil companies after it had been verified and accepted Rassantha competition for the development of some fields to achieve the highest return to Iraq, and the competition will be offered for all will be considered the nationality of the company, but must be qualified IT companies to develop our fields, as soon as possible."
وقال الشهرستاني إن القانون ثبت اسس ووضع سياسات وخطط نفطية لتطوير متوازن في جميع مناطق العراق.
Shahrastani said that the law proved foundations and the development of policies and plans to develop the oil-balanced in all parts of Iraq.

واضاف " الان جميع الاطراف متفقة والكل يرى ان هذا القانون انجاز كبير ومشروع وطني ولا توجد الان خلافات على هذا القانون لا من الاخوة في كردستان ولا من غيرهم."
He added : "Now all parties agree, everyone believes that this law a major achievement and a national project that do not now exist differences on the law and not from our brothers in Kurdistan or the other."

Translated version of http://[URL="http://www.aswataliraq.info/index.php"]www.aswataliraq.info/index.php[/URL]

Originally Posted by RollsRoyce

I have a *think-tank* type question to pose . . .

Could the dropping per barrel oil prices have anything to do with the fact that the Iraq Oil law will be in place VERY soon . . .

Last I heard = Iraq is *NOT* a member of OPEC . . . hmmm . . .

Many look at their entry into the oil market as the beginning of the death throws of OPEC ?? . . .

Actually Iraq has been a member of OPEC since 1960 RR...

Originally Posted by Lunar

Actually Iraq has been a member of OPEC since 1960 RR...

Thanks for the clarification . . . I was not aware of that . . .

New law-draft on oil distribution

19 January 2007 (MENAFN

A spokesman at the Iraqi Oil Ministry announced that Iraqi officials have approved a final draft of a law that will set rules for distributing Iraq's oil wealth and for attracting foreign investments to the war-torn country, Gulf Daily News reported. The spokesman added that the draft, which will be presented to the cabinet soon, calls for a federal committee headed by the prime minister to manage future contracts and to review deals signed under the former regime or by the Kurdish regional government.
The US has been strongly urging the Iraqi government to pass a law that sets up clear rules for sharing the oil wealth among Iraq's ethnic and sectarian groups in order to pacify the unstable conditions in the country.

New law-draft on oil distribution | Iraq Updates

Originally Posted by RollsRoyce

Thanks for the clarification . . . I was not aware of that . . .

Glad to assist sir...
Iraq is not participating fully right now but their membership in OPEC is still valid.

KRG lost authority over Kurdistan region’s oil and other resources, new Iraqi lawLondon, 19 January 2007 (KurdishMedia

The Kurdistan Regional Government has lost control and authority over Kurdistan region's oil, according to the new Iraqi law.
The new Iraqi law gives control over oil all-over Iraq including Kurdistan Region to the Iraqi central government. According to this new law, which would be approved by the Iraqi Assembly, all the contracts, including those between KRG and any oil companies, would be reviewed and would be controlled by the Iraqi central government. The Iraqi oil ministry will have total authority over oil resources in what is known as Iraq.
According to the new law central government controls and distributes the oil revenue by population over Kurdistan population and over Iraqi people.
The KRG has kept quiet over this issue, which implies that they have agreed to the Iraqi central government and to the Americans who want to deal with the central government.

KRG lost authority over Kurdistan region’s oil and other resources, new Iraqi law | Iraq Updates
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Finance Minister : oil derivatives continuous support.

The salary increases are calculated from this month, the dollar at 1260 dinars this year and drop to one thousand dinars soon
Source : Al-Sabah -- 18 / 01 / 2007

The Egyptian Minister of Finance that the 2007 budget had been lifted support for oil derivatives, and confirmed that his ministry had decided to work under a new salary from this month has allocated the funds required, but the House did not approve a plan of implementation so far, pointing out that the value of the Iraqi dinar against the dollar, will be at 1260 dinars for this year with a fiscal policy for the Iraqi dinar to normal.

He said Baqer Zubaidi, the Minister of Finance in a special Basubah yesterday : that the seven billion dollars is the value of crude oil, which is pumped from Iraqi oil fields to refineries Iraqi oil belongs to the Iraqi Oil Ministry said that this was in support of the Iraqi government for petroleum products also been allocated three billion dollars from the financial budget to cover the expenses of construction of new lines and maintenance of existing refineries, with a further $ 300-million dollars to buy kerosene.

He explained that Zubaidi Akiam amounts of the sale of petroleum products would remain with the Ministry of oil used to sustain and develop other oil projects, pointing out that the furor raised to support the lifting of oil derivatives has only included the lifting of subsidy on imported gasoline quality, which is used in modern cars.

And that the Ministry of Oil and the purchase of materials used in improving the derivatives of its own budget.

As for the salaries of the State Minister of Finance said : that his ministry had issued directives to the state regardless staff salaries according to a new salary but that the parliament has delayed the ratification of the implementation of the plan due to the lack of quorum as the delay in the preparation of the budget and its own budget approved by the Supreme Judiciary Council is the latest budget process by the government to the House of Representatives.

He pointed out that new applications for the government of Kurdistan, including deducting the value of its imports directly from the various added reason to delay submission of the budget.

He explained that the Ministry of Finance has figures for the budget of the Ministry of Defense and Ministry as decided by the sovereign to between the parties as called for by the Ministry of non-sovereign.

He emphasized - Zubaidi that the Ministry of Finance and in consultation with the Central Bank of seeks to identify the rate of exchange of the dollar the value of in 1260 dinars during the this year with laid down a plan to return the Iraqi dinar to its former era during the coming three years expressing his hope to stabilize the custody of during the coming three years expressing his hope to stabilize rate of exchange of 1000 dinars during the coming period the pointing out that the inflation not a situation fixed but is temporary and that one of the causes for crisis cruise goods and its access to the depths of the Iraqi ports because of the terrorist operations also that the rise of the prices of oil derivatives during crises another cause of inflation.

Regarding the current year budget-Zubaidi described as ambitious for the first time achieved eight billion dollars for security, despite the allocation of large amounts of investment that will contribute to solve the crisis of unemployment and increase economic growth by 10-8%, so as to ensure the completion of service projects in all governorates.

He said the remaining funds from the account of the final years amounted to eight billion dollars that the government would provide final budget to the House of Representatives during the first quarter of this year.

Originally Posted by Lunar

Glad to assist sir...
Iraq is not participating fully right now but their membership in OPEC is still valid.

There was some discussion on this a couple of months or so ago and if I remember correctly it was determined that Iraq is still a member of OPEC, but they are not bound by the quantity limits for shipping as the other members are.

IRAN: MEMBERS OF PARLIAMENT TRY TO IMPEACH AHMADINEJAD


Tehran, 9 Jan. (AKI) - Iranian reformist lawmakers have started collecting signatures in Parliament to demand the impeachment of the country's president Mahmoud Ahmadinejad. So far, 38 signatures have been collected out of the 72 required to formally summon Ahmadinejad and request his impeachment. Noureddin Pirmouzen, a deputy with the reformist minority, says it is nonetheless "positive to question" the head of the executive branch.
"Many actions of the current government and of president Ahmadinejad have led the country to an extremely worrying political and economic situation," Pirmouzen told the Iranian news website Aftab.

Referring to a resolution of the UN Security Council unanimously approved on 23 December which imposes sanctions on Tehran over its nuclear programme, the MP said "it is the last straw which has made Iranians loose their patience." The international community fears Iran is trying to build nuclear weapons and has repeatedly asked the government to halt sensitive nuclear work - a demand ignored by Tehran which claims its programme is solely for civilian use.

"Parliament cannot sit still in front of the current situation and watch as the economy worsens because of the government's inability," he added.

Issa Saharkhiz, editor and political analyst, told Adnkronos International (AKI) that "Ahmadinejad's golden era is over."
"I don't think Ahmadinejad will leave the presidency before his mandate expires but I am also convinced he will not succeed in winning a second term," added Saharkhiz. "Many factions and personalities who supported Ahmadinejad's candidature at the 2005 presidential elections have already abandoned him and don't spare criticism, even harsh and direct, of the president and his government."

Iranian president Mahmoud Ahmadinejad became president after an overwhelming victory in June 2005 but his then contender, Ali-Akbar Hashemi-Rafsanjani, and moderate conservative rivals of the president did far better than Ahmadinejad's allies in December polls to elect local councils and the powerful watchdog, the Assembly of Experts.

Central Bank Governor : This year's budget focused on increasing the volume of investment in Iraq

Source :The Iraqi Media Network southern region.
18 / 01 / 2007

Dr. Sinan Shabibi Governor of the Central Bank that this year's budget, the budget investment because it focused on the size of the investment Ziada.

And Shabibi said that the Central Bank's role is to address the imbalance resulting from the development process that will produce changes in the economic structure are basic.

He pointed out that the work of the Central Bank is to achieve development in a stable monetary attention through all means and policies to achieve economic stability and moderation in the environment straight and moderate inflation rate.

He continued : "Our budget for the preservation of resources, and will be achieved through combat inflation.

Stressing that the bank had several measures including raising the exchange rate of the dinar.

He pointed out that the impact of this action on the budget through the impact on the purchasing power of the government, will increase by addressing inflation.

He added : Shabibi that this policy will increase the confidence dinars, which will pull some of the money to the banking sector and the rationalization of government spending because of its impact on inflation.

He indicated that this action will lead to the reduction of prices of import goods such as private sector imports and the import of the government's development that come from the conversion of the Iraqi dinar to the dollar.

He added that this policy at the time weakens the ability of the government to buy the dinar, it strengthens Aldenarabraghi owned by the government.

Pointing out that the bank wants as a means to affect the economic and monetary policy by making the dinar a valuable and powerful.