Thread: Iraqi/Dinar news until March 1st, 2007

Attacks cost Iraq 400K bpd of oil

Attacks cost Iraq 400K bpd of oil
United Press International - [23/02/2007]
Attacks on Iraq's oil sector, mostly on pipelines, affects 400,000 barrels per day and billions of dollars annually, an Oil Ministry spokesman said.

Assem Jihad said attacks on the country's oil infrastructure averaged one every other day, totaling 159 major blows in 2006, Azzaman reports.

"These attacks have forced the country's refineries to operate at nearly 50 percent of capacity," Jihad said.

Iraq depends on oil sales for 96 percent of its federal budget. It has 115 billion barrels of proven reserves, the third-most in the world.

But oil production averaged 2 million bpd last year and dropped to around an average 1.7 million bpd last month due to attacks, bad weather and stoppage for repairs. Iraq produced 2.6 million bpd before the 2003 war.

Most of the attacks on Iraq's oil sector last year were on the northern pipeline connecting Kirkuk to Ceyhan, Turkey. The vast majority, sometimes all, of the country's 1.6 million bpd of exports were from the southern fields.

Jihad said $2.5 billion in the 2007 budget is dedicated to oil sector work.

http://www.iraqdirectory.com/DisplayNews.aspx?id=3226

Originally Posted by postcon

Iraqi "government" to hike fuel prices by 15 pct

ALARAB ONLINE | Display Page

Consumer fuel prices will be hiked by around 15 percent in March as Iraq implements an agreement with the International Monetary Fund to cut subsidies, Oil Minister Hussain al-Shahristani said.

Iraq has the world's third largest known oil reserves but decades of war, sanctions, under-investment and now widespread violence and sabotage have left it critically short of fuel.

It has to import much of its gasoline.

The government continues to control prices, fostering a thriving black market in fuel for those unwilling to queue for hours, sometimes days, to fill their vehicles.

Shahristani told Arabiya television in an interview broadcast on Friday the price of benzene would rise from 350 dinars (about 27 U.S. cents) to 400 dinar and the price of gasoline would rise from 300 dinar to 350 dinar by mid-March.

Iraq won a loan accord with the IMF in December 2005 and a $14 billion debt swap with private lenders. Since then, the price of a litre of ordinary gasoline has risen from 20 dinars.

What are these people thinking ...inflation from reports is still in the 30-50% range and they want to raise fuel prices? How about a little % raise in the dinar ( ok about 1000% raise ). This would certainly warm the heart and soul of the citizens of Iraq, not to mention all of us here at Rol Then these poor people wouldn't have to debate what they can afford food, clothes or fuel.

The distribution of the ration card Uniform million Iraqis
22 / 02 / 2007 23:00 (GMT)
Department of Commerce announced the commencement of the distribution of the card cooking e Uniform five million families in the areas of the brain, spreading enveloped in the country.
The Minister of Trade Abdul Sudanese farmer in a statement t the Ministry that the ration card arrived in the country after the Al Aubat significant security on the road between Iraq and Syria, Having printed in Lebanon and in accordance with international could not T. Zuerha or change the information listed there.
The minister continued, it has been prepared with mechanisms for the distribution of cards and access to the c Mia provinces prepared on the other distribution mechanisms that is not in a transparent manner exhausts citizen.
He said that the current specifications of the card is no different than the Moas Fat card Yugoslavia, but it holds Vsvorh confidential material with coupons Algx Landespolizei and have a different color on each other.

Translated version of http://www.radiosawa.com/article.aspx?id=1133547

Parliamentary blocs welcomed a cabinet reshuffle Holt Qubb
22 / 02 / 2007 22:48 (GMT)
The masses of parliamentary support for a cabinet reshuffle m Rtqub in government Nuri al-Maliki requirement to adopt this Altad scourge of objectivity.

Correspondent "Radio Sawa" Alaa Hassan in Baghdad and details

Radio Sawa - كتل برلمانية ترØ*ب بإجراء التعديل الوزاري المرتقب

Operational Manual - BP 2.30

BP 2.30

The Seventh Conference for the Reconstruction of Iraq held in Lindh n late March next
Source : file Presse-23 / 02 / 2007

Taking place in the British capital of London on 28 and 29 if R. next Seventh Conference for the Reconstruction of Iraq who is j attended by a large Iraqi delegation comprising government officials and businessmen and investors in addition to officials Illucca Latt American government and the British on Ba to finance the reconstruction and rebuilding of Iraq. , as well as the heads and officials of a large number of companies Alajenbe Yeh interested in finding partners and the Iraqi contractors Alpes Aten.

During the conference, and will be extending the studies and research on the priority projects in the areas likely Ala Marais and construction and development. especially in the service sectors, which suffer from Arrest t, and especially electricity, fuel and others.

And the conference will be held at the request of American companies and a for the British, Iraqi and other foreign as well as Walt j participated in the Sixth Conference for the reconstruction of Iraq ever held in Washington during the past year. And as supporters of the Conference that will be placed on the transmitted e and the implementation of reconstruction projects to the views of Iraqi and certified an efficient and financially and technically capable of contributing role Aegean Bi in the reconstruction operations and development.

Oil Grab in Iraq
Antonia Juhasz and Raed Jarrar | February 22, 2007

Editor: John Feffer, IRC and Erik Leaver, IPS

Foreign Policy In Focus Foreign Policy in Focus - A Think Tank Without Walls


While debate rages in the United States about the military in Iraq, an equally important decision is being made inside of Iraq--the future of Iraq’s oil. A new Iraqi law proposes to open the country’s currently nationalized oil system to foreign corporate control. But emblematic of the flawed promotion of “democracy” by the Bush administration, this new law is news to most Iraqi politicians.

A leaked copy of the proposed hydrocarbon law appeared on the Internet last week at the same time that it was introduced to the Iraqi Council of Ministers. The law is expected to go to the Iraqi Council of Representatives within weeks. Yet the Internet version was the first look that most members of Iraq’s parliament had of the new law.

Many Iraqi oil experts, like Fouad Al-Ameer who was responsible for the leak, think that this law is not an urgent item on the country's agenda. Other observers and analysis share Al-Ameer's views and believe the Bush administration, foreign oil companies, and the International Monetary Fund are rushing the Iraqi government to pass the law.

Not every aspect of the law is harmful to Iraq. However, the current language favors the interests of foreign oil corporations over the economic security and development of Iraq. The law’s key negative components harm Iraq’s national sovereignty, financial security, territorial integrity, and democracy.
cont'd....

Foreign Policy In Focus | Oil Grab in Iraq

Voices of Iraq : Sudanese-American
PM BTBooks : nakr2004 on Friday, February 23, 2007-2:31 PM BT

Sudanese discuss with senior American security relations economic and Baghdad - (Voices of Iraq)
Research and Iraqi Trade Minister Abdel Sudanese farmer Wu Undersecretary of the Ministry of Trade American Levin Frank ways to develop security relations and economic cooperation, which is m n important factors that will help to end violence in the Iraq and the elimination of unemployment. This came during a meeting with Sudanese Frank in Irbil, on the sidelines of a forum of dialogue Iraqi-Ameri so for businessmen and companies.

Quoted in a statement issued by the Council of Ministers received news agency ( voices of Iraq) independent copy of today, Friday, the the minister said that "Iraq has economic potential e Aela and large will enable him to return to the world economy and re relations with the outside world. " The statement quoted the Sudanese that "there is a government policy new allow the Iraqi economy opening up to market free and given the opportunity each investment companies in different regions of the country. "

For his part, Frank expressed the desire of the American government to visit pilgrimage m bilateral trade and economic cooperation with Iraq and the contribution of a for American companies to invest in areas of the country a one that there is the security aspect. " according to the statement.

The Frank "the need for Iraq to build five thousand units S. a family in addition to the development and application of modern system in Tsg Il land and resolve disputes relating to property rights The development of regulations for building and strengthening safety. "

The statement pointed to the need for Iraq to revive companies M. n order to increase the opportunity for employment and promotion of the principles of accountability Wa the transparency and training managers on the business practices The accounting methods and strengthen the partnership between the sectoral n public and private sectors through joint ventures.

Translated version of http://www.aswataliraq.info/modules.php?op=modload&name=News&file=index&catid= 1&startnum=1
did someone say what happened to the fil?

Iraqi Embassy Upgrades Its D.C. Digs
Mission Acquires Mansion, Plans Extensive Renovations to Current Site

By Nora Boustany
Washington Post Foreign Service
Friday, February 23, 2007; Page A12

Iraq may be facing a deadly civil war, but the Iraqi government is initiating major, costly repairs to its diplomatic building in Washington and expanding its real estate holdings here.

The latest Iraqi government purchase for its U.S. mission is a $5.8 million mansion at 3421 Massachusetts Ave. NW in Observatory Circle, across the street from Vice President Cheney's official residence. The three-story, 1920 Tudor-style structure, with more than 7,000 square feet of space, will serve as Iraq's temporary embassy during renovations to its fading Dupont Circle mission. Plans are to eventually turn the Dupont Circle building into a cultural center for the exhibition of Iraqi art.

The mansion comes with bright skylights, inset lighting fixtures, a top-floor kitchenette with a built-in espresso machine, new hardwood floors and soft pistachio carpeting up the winding stairs. There are heated floors, a firefighting system, speakers for music throughout the building, and spacious bathrooms, one with a Jacuzzi.

"We have bathrooms coming out of our ears," said Iraqi Ambassador Samir Sumaidaie, inspecting the new digs.

A Washington design and restoration company, Skynear and Co., painstakingly repaired the building after a 2004 fire, replicating almost every detail. Original plaster moldings were recast and French chandeliers imported to replace the originals. "A lot of blood, sweat and tears went into it," said Lynn Skynear. "We think we resurrected it back from the dead."

The Iraqi government bought the building in October.

Overseeing the effort is Sumaidaie, an electrical engineer by training, a poet and Islamic art connoisseur by inclination. His soon-to-be-vacated Dupont Circle office is a study in good lighting and precision. There is chaos in Iraq, but his working space exudes maximum control: a sleek computer screen, a yellow pad, Mont Blanc pens in a wooden case, rows of rulers, cellphones.

"It is a tiny part of what I do here," he said last week, looking up from design plans spread over a desk buffed to gleaming perfection. "Bear with me, I have to watch this," he said as he watched President Bush, on a vast television screen, speak about the importance of success in Iraq.

Asked about spending oil revenue on embassy buildings while Iraq is in the throes of war, Sumaidaie turned off the television's sound. "Rebuilding is part of our recovery, regaining normalcy is part of our recovery," he replied. "It is building, not destroying."

Sumaidaie is the first Iraqi ambassador to the United States since Mohamed al-Mashat fled to Canada in January 1991 before the start of the Persian Gulf War. His hands are full, with requests for media interviews, meetings with U.S. officials and lobbying a newly critical Congress, in addition to the minutiae of sifting through plans submitted by five local companies vying for the embassy's renovation project. The embassy also tends to the local Iraqi community and is developing consular offices in other major American cities.

"I believe every person in charge of something should do his best," Sumaidaie said. "I am doing the best for Iraq from where I am sitting."

Sumaidaie has even bigger real estate expansion plans, once peace descends on Iraq: a new facility in a prime location in Washington that would be designed by one of Iraq's internationally renowned architects, such as Iraq-born, Britain-based Zaha Hadid. The Dupont Circle embassy would then become an Iraqi museum.

On this day, however, the daily reports of casualties, both Iraqi and American, are topmost in this thoughts.

After a recent visit to Walter Reed Army Medical Center, he said, "These great young men and women are heroes, yet their lives will never be the same. Each one of their sacrifices is a personal tragedy. This has been a joint effort, like a baptism of fire. We will get to the other side of this war, hopefully."

In the meantime, he wants to repair Iraq's image in Washington -- or at least its public facade. After 15 years of neglect, the red-brick embassy off Dupont Circle is in disrepair, with corroding pipes, peeling gold-leaf ceilings and rusty wiring.

To repair the Dupont Circle building will take millions. Sumaidaie is currently soliciting bids. Once the renovation is underway, the Iraqi mission will decamp to the posh new quarters at Observatory Circle.

The new facility sits amid some of the city's major religious centers: across Massachusetts Avenue from St. Sophia Greek Orthodox Cathedral, next to a construction site for a Buddhist temple, and five blocks from the Islamic Center of Washington. The towers of Washington National Cathedral can be seen nearby.

But the colorful history of 3421 seems more earthly than divine.

The building became the embassy of Sudan in 1961, during the Kennedy administration. When Bangladesh gained independence from Pakistan in 1971, the mansion became its embassy. In the mid-1980s, at the peak of demonstrations against apartheid, South Africa moved part of its embassy there. In the early 1990s, Kazakhstan launched its U.S. diplomatic mission there after gaining independence from the former Soviet Union.

The most recent previous occupant was the diplomatic mission of Ivory Coast, which has since moved to a new building. During its years at the address, Ivory Coast endured a bloody civil war. In February 2004, days after the Ivorians moved out, the building was damaged by an electrical fire.

In addition to his other duties, Sumaidaie is collecting works by Iraqi artists to exhibit in the embassy's buildings, wise investments for the future, he said.

"It will take a long time for us to heal," he said. "I do believe that giving helps healing, doing something positive. It is the antidote to destruction. In the teeth of the most horrendous violence, there are people out there doing their jobs. This is the best way to deal with fear, a constructive way out. It is one of the ways of healing."

washingtonpost.com

Originally Posted by PatKat

Voices of Iraq: Baghdad-U.S.
Posted by: nakr2004 on Friday, February 23, 2007 - 03:20 PM

Baghdad-U.S.
Iraq's trade minister, U.S. official take up economic relations
Baghdad, Feb 23, (VOI) – Iraqi Trade Minister Abdul-Falah al-Sudani and the U.S. Undersecretary for International Trade of the Department of Commerce Frank L. Lavin discussed means to further economic cooperation relations as an important means of ending violence and unemployment in Iraq.
The meeting took place in Arbil, the capital of the Iraqi Kurdistan region, on the sidelines of the Iraqi-U.S. businessmen's dialogue meetings.
"Iraq is in possession immense economic potentials that would enable it to return to the arena of global economy and restore its relations with the outside world," according to an Iraqi cabinet's statement received by the independent news agency Voices of Iraq (VOI) on Friday.
The statement quoted Sudani as saying "there is a new government policy that would allow the Iraqi economy to open to the free market and offer investment opportunities to corporations all over the globe."
Lavin expressed the U.S. government's wish to "up the volume of trade and economic exchange with Iraq and the U.S. companies' contribution to the investment in the areas enjoying security."
Lavin said "Iraq would need to build 5,000 housing units, develop a modern system of registering lands, settle disputes that have to do with intellectual property rights, draw up construction systems and enhance safety."
The statement referred to "Iraq's need to refresh companies for the sake of increasing jobs, bolstering principles of accountability and transparency, training managers to modern trade and accounting practices and strengthening partnership between the public and private sectors through joint-stock companies."

aha, another version of the same. good stuff!!
considering they are talking about the new govt policy of foreign investment i dont see how they can continue much longer without some adjustment to the pitiful exchange rate or they are inviting the world in for naught.
another reason why i cant see them waiting until after the first quarter as has been suggested.