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

giant ship for oil transport at Khor Al-Zubair

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08 April 2007 (Iraq Directory)

The Associate Director of Khor Al-Zubair port in Basrah said last Saturday that the port received the largest ship to transport Iraqi oil, pointing out that this is the first time in the history of the port to receive a giant ship of this size.

Engineer Majid Al Yousef added that “the ship (West Starr) anchoring in the port, and which was received on Friday, weighs (70) tons while its length is (243 m.) and its width (32 m.)”. He pointed out that “the ship came to port to load on black oil through the pipeline that extends from the port to the Basrah refinery (20 km west of Basrah)”.

Youssif pointed out that the berthing of this giant ship indicates the ability of (Khor Al-Zubair) port to receive large ships, as a response to the rumors against Iraqi ports.

Oil exports rise in March to the highest level in 2007

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08 April 2007 (Iraq Directory)

Transport sources said on Monday that Iraqi oil exports rose in March to hit the highest level since September 2006 because of the increasing shipments from Basrah which is the main port on the Gulf for the export of Iraqi crude oil.

According to data gathered by Reuters, the exports have increased from 1.49 to 1.62 million barrels a day in February, and this was the highest level since last September when exports hit 1.64 million barrels per day.

Spokesman of the Iraqi Ministry of Oil, Assim Jihad, said on the fifth of March that the total exports in March was less than what was desired by Iraq which was seeking to increase its exports to 1.7 million barrels a day during that month.

The total figure for the exports in March was 2360061 barrels exported from the Iraqi port of Khor Al-Amaih on the Gulf.

UAE Crescent to study oil exploration in Iraq

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08 April 2007 (The Peninsula)

The UAE's Crescent Petroleum met with Iraqi officials this week to finalise a joint study on an oil exploration area in southern Iraq, Crescent said in a statement yesterday.

Iraq's cabinet endorsed a draft oil law in February that aims to lure billions of dollars of foreign investment to boost the country's output. The law is still awaiting parliament's ratification.

Many international companies have undertaken studies of oil and gas fields and training programmes for Iraqi officials as they position themselves to win stakes in the country's prized oilfields.

"Crescent Petroleum as a company from the region is firmly committed to Iraq and its oil industry for the long term," Crescent Executive Director Majid Jafar told Reuters yesterday.

The exploration area to be studied is near the southern city of Basra and the border with Kuwait, Crescent said. It did not give the name of the area.

Crescent has conducted studies for other regions in Iraq, and has also drawn up a development plan for the giant southern Ratawi field. Ratawi's potential output capacity is at least 200,000 barrels per day.

The new 10-month study will look at methods for seismic measurement and preparation of geological studies of the region.

Crescent representatives and Iraqi officials met in Amman, Jordan. The meetings followed on from a technical cooperation agreement that Crescent and the Iraqi Oil Exploration Company signed in September 2005.

Iraq's oil sector has been hampered by decades of sanctions under Saddam Hussein and years of violence since the U.S.-led invasion in March 2003.

Iraq said earlier this week that it had invited 15 Arab, Asian and American firms to drill 100 oil wells in the country's south as part of efforts to boost production. The invitations were issued at the end of March and will close at the end of May.

Iraq fights inflation

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08 April 2007 (AME Info FZ LLC)

The Central Bank of Iraq has managed to cut the rate of inflation from 66.4% in January to 37.1% in February, according to the Dow Jones newswires.

The bank has undertaken several measures to bring inflation under greater control including hiking interest rates to 20% at the start of the year and boosting the dinar which has now climbed to a two year high against the dollar.

Iraq opens oil fields to Japan and South Korea
Source : statement UAE-08 / 04 / 2007

The Iraqi Oil Minister Hussein Shahrastani Korean and Japanese companies to engage in a dialogue with the South Oil Company to develop the discovered fields present in the southern region within the ministry's plan to develop and increase production rates in these fields.

Transfer Assem Jihad, spokesman of the Ministry of Information on the oil Shahrastani Before leaving yesterday - Saturday with Prime Minister Nuri al-Maliki, a high-level delegation to Japan and Korea, as saying : "We encourage Korean and Japanese companies to begin talks immediately with the South Oil Company to enter into contracts to develop oilfields in the southern region.

Shahrastani and pointed out that Iraq possesses giant fields and many, the quantities produced are not commensurate with the existing reserve in these fields is why we are developing these fields through the National Oil Company in cooperation with foreign companies, noting : we are pleased that the Japanese and Korean companies great attention to the development of the fields, especially in certain areas, including the field of oil in Nasiriyah, a large field and a giant in the east of Baghdad.

$30M for Jobless & Displaced Graduate Youth Projects

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Baghdad, 08 April 2007 (Al-Sharq al-Awsat)

Cabinet council specified $ 30 M for establishing small income projects for the jobless and displaces graduated youths and the damaged shop owners.

Minister of work and social affairs Sheikh Radhi said that, the Prime Minister Dr. Norri al-Maliki specified $30 M to carry out small income projects for those whom registered in the professional training and employment centers besides the damaged shop owners after Samara'a events whom want to return back to Baghdad.

On the other hand, Radhi added that they limited for each project 10 million diners in order to establish more possible number of the projects and to gather a lot of jobless youths.

He emphasized that the mentioned projects would carry out in Baghdad as a first stage and it would repeating while have a success in the other provinces

Did any of you Brits out there make it to this meeting? Ug - I can't believe I found this after the fact. Duh.

KRG Invitation: Seminar on Iraq's Oil and Revenue Sharing Laws

An agreement on Iraq's draft oil law was reached by Iraq's main political players at the end of February 2007. This draft oil law includes several companion laws and annexes. KRG would like to invite you to a seminar on Thursday 22nd March from 10:30am to 2pm, in London (programme and a light lunch).

During this seminar, the KRG Minister for Natural Resources and the KRG Spokesman will present a brief account of the main points in the draft oil law and the annexes, in addition to a longer presentation of the main ideas expected to be in the draft revenue sharing law. The KRG will also present model contracts, guidelines, and business opportunities in the Kurdistan Region. This will be followed by a Q&A session.

We invite:
The media dealing with the Kurdistan Region, Iraq, and the Middle East

The media covering energy issues, both in the region and internationally

Lawyers and experts particularly interested in the oil law and revenue sharing issues

Individuals and companies interested in business opportunities in the Kurdistan Region and Iraq

Diplomats and political representations in London who are interested in the issues of oil and gas in Iraq and the Middle East

Academics who are interested in regional and sectoral issues


Please submit your details (full name, name of company/organisation/mission/institution, your position, telephone number and email address) to krg2(at)luther.co.uk no later than Wednesday 21st March, 2pm (London time).

Attending the seminar will be possible after receiving a confirmation from the KRG Spokesman, who will provide you with details of the programme and the venue.

The Spokesman
Kurdistan Regional Government
krg2(at)luther.co.uk

Not too late for this though!

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Originally Posted by inquisitive1

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

Wait a second!!

This is enormous!
I always thought that in case of an RV - what would be the point of having ration cards ? If FIL kicks in, wouldn't you want your people to go to work instead of waiting for the ration card?

I think that this was also discussed about 2-4 weeks ago ( I think it was related to the IMF Review though )...there were two points in one of the press releases from that meeting: the fuel price increase, and the ration cards to be cancelled.

Thanks, inquisitive1, GOOD FIND!

To add to this, from the same source:


NEWS
6 April, 2007

Foreign Minister Receives Special Advisor of the UN Secretary General

On April 6, 2007 Mr.Hoshyar Zebari Minister of Foreign Affairs receives Mr.Ibrahim Jambari, the Special Advisor of the UN Secretary General Who is in a working visit to Iraq. The two sides discussed the role of the UN in Iraq through the activities of the UNAMI'S Mission.

The Minister affirmed the meet to activate the mission's role in Humanitarians, Construction & building of capabilities fields.

The two sides also discussed the outcome of consultations made by the Iraqi Foreign Ministry with neighboring countries to Iraq, International & regional organizations & International Parties to hold the next enlarged ministerial meeting to follow up the results of Baghdad meeting which was held on 10-3-2007.

In this regard the Minister affirmed that the remarkable progress has been achieved during the consultations & that’s an announcement that will be made very soon on the timing & the avenue of the next meeting.

The two sides discussed also the issue of holding the meeting of the ICI with the Ministerial meeting in a parallel but independent way.

The Minister also pointed out to Iraq; demand to end the mandate of UNMOVIC

So when is the HCL supposed to be a done deal, i.e., passed, implemented, enacted, put on the books, ready-to-go, finito..etc?