Thread: Iraq/Dinar News up until April 10th 11pm ctz

Originally Posted by Adster

Iraq claims largest oil reserves in the world

04/07/07

BEIRUT, April 7 (RIA Novosti) - Iraq has oil reserves that are estimated at over 300 billion barrels, making the country the world leader in this sphere, the Iraqi oil minister said Saturday.

In his interview with the Lebanese Al Mashrik newspaper, Hussain al-Shahristani did not specify, though, whether this figure referred to confirmed oil reserves or to a general estimate.

According to official data, Iraq's confirmed oil reserves total about 112 billion barrels and the country has another 200 bln barrels in undiscovered reserves.

Saudi Arabia is considered the current global leader in confirmed oil reserves with 262 bln barrels, followed by Iraq (112 bln barrels) and Venezuela (about 80.8 bln barrels).

The Iraqi minister also said that his country could export up to 1.9 million barrels of oil per day, but the current unstable situation in Iraq, especially frequent terrorist acts at oil production and transportation facilities freeze the export level at 1.6 million bbl/d.

RIA Novosti - World - Iraq claims largest oil reserves in the world

Bout freakin time....

Iran bars Maliki plane from airspace

Agencies


Baghdad: Iran has denied airspace entry to a plane carrying Iraqi Prime Minister Nuri Al Maliki, forcing it to land in Dubai, a senior adviser said on Sunday.

Sadiq Al Rikabi, who was with Maliki on the trip to Japan and South Korea, said the plane entered Iranian airspace at about 8:30 pm on Saturday.

"Suddenly the Iranian aviation authorities ordered the pilot to go back," Rikabi said.

"We were obliged to fly to Dubai where we stayed for more than three hours to file a new [flight] plan," he said by telephone from Bangkok.

Rikabi said it was unclear why Iran had barred Maliki's plane from crossing its territory. Iranian officials were not available for comment.

Originally Posted by Adster

Iraq claims largest oil reserves in the world

04/07/07

BEIRUT, April 7 (RIA Novosti) - Iraq has oil reserves that are estimated at over 300 billion barrels, making the country the world leader in this sphere, the Iraqi oil minister said Saturday.

In his interview with the Lebanese Al Mashrik newspaper, Hussain al-Shahristani did not specify, though, whether this figure referred to confirmed oil reserves or to a general estimate.

According to official data, Iraq's confirmed oil reserves total about 112 billion barrels and the country has another 200 bln barrels in undiscovered reserves.

Saudi Arabia is considered the current global leader in confirmed oil reserves with 262 bln barrels, followed by Iraq (112 bln barrels) and Venezuela (about 80.8 bln barrels).

The Iraqi minister also said that his country could export up to 1.9 million barrels of oil per day, but the current unstable situation in Iraq, especially frequent terrorist acts at oil production and transportation facilities freeze the export level at 1.6 million bbl/d.

RIA Novosti - World - Iraq claims largest oil reserves in the world

Hello everyone. I have been reading around on various treads and posts this AM and thought I would comment on several fundamental economic issues out there today. First, the above article lends confirmation to a report by SGS several months ago that Iraq has more oil than SA. Very significant in that the worlds industrial and western nations are going to want a piece of the pie. Only now the pie is much larger than previously thought. Keep in mind that we are beginning to hear of reports that natural gas is becoming an important issue especially for southern europe. Decreasing dependence on Russian gas. Since there are no exclusively oil or gas wells, Iraq has an abundance of gas that will play a more important role as time goes on. The reports that the oil terminal at Basra is now loading large oil tankers is important since I have always thought that transportation and storage has been a large under reported reason as to why Iraq has not been able to increase their exports as fast as we would like. But that may soon change. One report stated for every 1 dollar increase in oil sales, there is a 2 dollar increase in GNP. A simple way for this country to get very rich very fast.

Another report that inflation dropped in Feb. Very good sign that the removal of currency from the market along with the past increase in exchange rates and rise in interest rates is having the desired effect. I read reports that from Kuwait, the dinar is becoming harder to get. Since while in Kuwait i 2004, the Kuwaities where buying this currency by the duffell bags, then a decrease of availablilty there is very important on the supply side of the equation. Hopefully, our friend Socata 850 will gives us an update, but we should be around 8 trillion since we have been counting. As Socata 850 say. "the more they take. the more we make"! All good for us since this process can't last for ever.

On the political side, reports that the ICI will be signed May 3rd or 4th. World wide political and economic support is what I think this means, very good. HCL still in the Iraqi parliment and may come out soon. But since Iraq is leasing oil wells and we have reports that drilling is taking place anyway in Kurd country, the extraction process may have begun ahead of the HCL and the money may flow soon.

Everyone have a good holiday and this week may be very interesting for us. Thank You.

Originally Posted by Wm.Knowles

Hello everyone. I have been reading around on various treads and posts this AM and thought I would comment on several fundamental economic issues out there today. First, the above article lends confirmation to a report by SGS several months ago that Iraq has more oil than SA. Very significant in that the worlds industrial and western nations are going to want a piece of the pie. Only now the pie is much larger than previously thought. Keep in mind that we are beginning to hear of reports that natural gas is becoming an important issue especially for southern europe. Decreasing dependence on Russian gas. Since there are no exclusively oil or gas wells, Iraq has an abundance of gas that will play a more important role as time goes on. The reports that the oil terminal at Basra is now loading large oil tankers is important since I have always thought that transportation and storage has been a large under reported reason as to why Iraq has not been able to increase their exports as fast as we would like. But that may soon change. One report stated for every 1 dollar increase in oil sales, there is a 2 dollar increase in GNP. A simple way for this country to get very rich very fast.

Another report that inflation dropped in Feb. Very good sign that the removal of currency from the market along with the past increase in exchange rates and rise in interest rates is having the desired effect. I read reports that from Kuwait, the dinar is becoming harder to get. Since while in Kuwait i 2004, the Kuwaities where buying this currency by the duffell bags, then a decrease of availablilty there is very important on the supply side of the equation. Hopefully, our friend Socata 850 will gives us an update, but we should be around 8 trillion since we have been counting. As Socata 850 say. "the more they take. the more we make"! All good for us since this process can't last for ever.

On the political side, reports that the ICI will be signed May 3rd or 4th. World wide political and economic support is what I think this means, very good. HCL still in the Iraqi parliment and may come out soon. But since Iraq is leasing oil wells and we have reports that drilling is taking place anyway in Kurd country, the extraction process may have begun ahead of the HCL and the money may flow soon.

Everyone have a good holiday and this week may be very interesting for us. Thank You.

Thankyou Mr. Knowles... your posts always make me feel so much better with this investment..Happy Easter to you too

Originally Posted by shotgunsusie

this information leaked out a couple years ago from some sources on the ground who were protecting the seizmograph crews as they did their surveys. word then was the world will be surprised as they found more oil in iraq than saudi ever thought of having. its about time they spilled the beans!!

WoOT ADSTER BABY, LETS PARTY THIS FORUM UP!!!

Exactly,

This was inside information going back to Saddam regime and they kept it secret from him, but the Kurds knew of these unannounced reserves and this is just a tip of the iceberg from what my associates have disclosed. This is why the Kurds are pushing 140 real hard as news is slipping out about new proven reserves total from region.

Good luck and health to all, Mike

Number of banks 14 -----
Auction price selling dinar / US $ 1272 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 49.825.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 49.825.000 -----
Total offers for selling (US $) ----- -----


HE is Alive !!!


"The More They Take, The More We Make"

8 Trillion and still the Party has not started


1. "0" Dinar rate change today, it was 1272, it is now 1272

2. A (net) worth of dinars, IQD - 63,377,400,000 pulled out of circulation today 4/8/07.

3. 14 banks participating today

4. 118th auction since the beginning of CBI's reval plan

5. 190 days into the CBI's reval plan. (SIX MONTHS+)

6. 8,000,151,901,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 205 dinar change since Oct 1st (baseline was 1477) 13.879% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 0 point reduction in the rate so far this week. Was at 1272 at the end of last week, 1272 so far this week.

10. 1 point drop in the month of April. Ended at 1273 in March, now stands at 1272
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
In March we saw a .546% drop in the rate.

Originally Posted by Socata 850

Number of banks 14 -----
Auction price selling dinar / US $ 1272 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 49.825.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 49.825.000 -----
Total offers for selling (US $) ----- -----


HE is Alive !!!


"The More They Take, The More We Make"

8 Trillion and still the Party has not started


1. "0" Dinar rate change today, it was 1272, it is now 1272

2. A (net) worth of dinars, IQD - 63,377,400,000 pulled out of circulation today 4/8/07.

3. 14 banks participating today

4. 118th auction since the beginning of CBI's reval plan

5. 190 days into the CBI's reval plan. (SIX MONTHS+)

6. 8,000,151,901,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 205 dinar change since Oct 1st (baseline was 1477) 13.879% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 0 point reduction in the rate so far this week. Was at 1272 at the end of last week, 1272 so far this week.

10. 1 point drop in the month of April. Ended at 1273 in March, now stands at 1272
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
In March we saw a .546% drop in the rate.

Thanks for all the work you do Socata..

Young Frankenstein

Happy Easter! enjoy Your holiday and worry about the DINAR RV another day! this week will be a very interesting week to follow!

Originally Posted by Socata 850

Number of banks 14 -----
Auction price selling dinar / US $ 1272 -----
Auction price buying dinar / US $ ----- -----
Amount sold at auction price (US $) 49.825.000 -----
Amount purchased at Auction price (US $) -----
Total offers for buying (US $) 49.825.000 -----
Total offers for selling (US $) ----- -----


HE is Alive !!!


"The More They Take, The More We Make"

8 Trillion and still the Party has not started


1. "0" Dinar rate change today, it was 1272, it is now 1272

2. A (net) worth of dinars, IQD - 63,377,400,000 pulled out of circulation today 4/8/07.

3. 14 banks participating today

4. 118th auction since the beginning of CBI's reval plan

5. 190 days into the CBI's reval plan. (SIX MONTHS+)

6. 8,000,151,901,000 dinars pulled from circulation !!

7. "0" Dinars back into circulation today

8. 205 dinar change since Oct 1st (baseline was 1477) 13.879% increase in value of the dinar since beginning of reval plan (Approximatly Oct 1st).

9. 0 point reduction in the rate so far this week. Was at 1272 at the end of last week, 1272 so far this week.

10. 1 point drop in the month of April. Ended at 1273 in March, now stands at 1272
In January we saw a 2.49% drop in the rate.
In February we saw a .928% drop in the rate.
In March we saw a .546% drop in the rate.

Shout it loud my friend. Thanks.

Canceling over 19,000 contracts in the efforts to end the Oil For Food programs the Iraqi delegation, 8 ministries and the CBI held a conference with the UN Financial Observer to end oil for food programs, reckon and transfer their accounts to the DFI, and cancel over 19000 contracts.

The delegation headed by Dr. Najib met Ambassadors of Russia, China, France and Germany to hand them an official verbal note that included a request to gain their support for a draft resolution due to be discussed in UNSC during this month to terminate UNMOVIC mandate, close dossier of ex-weapons program and transfer its payments to the DFI.

www.iraqmofa.net