Thread: Iraq/Dinar News to April 19, 2007 10PM CST

16 April 2007 (Iraq Development Program)
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Official at the U.S. Agency for International Development announced that the organization has set a two-day conference in Jordan to discuss the future of the banking sector in Iraq.

The conference highlighted the challenges and issues facing and curbing the Iraqi banks from functioning or developing appropriately, and the ways to move forward the Iraqi bank sector to step into the world's latest technologies adopted in the sector thus form more solid base for Iraq's economy, the official said.

To boost the Iraqi banks' functions and improvement, the official added that the USAID has allied with the Iraqi Company for Bank Guarantees, which is already achieving its objectives of providing cash-flow based loan guarantees to small and medium enterprises in Iraq.

USAID inaugurates conference for Iraq's banking sector | Iraq Updates

Many bids received from international companies to invest
Fawzi Hariri: Our investment based on local and international cooperation


Iraqi Minister of Industry and Minerals, Fawzi Hariri, announced the start of concluding agreements with the local, Arab and international companies according to the system of the strategic partner with the industry companies that will continue for 10 - to 20 years.

He added in a press conference: “The ministry put forth twelve investment file concerning the industries of: cement, iron and steel, petrochemicals, fertilizers, auto industry, glass and paper for the purposes of rehabilitation in within a comprehensive program prepared by the ministry for rehabilitating and modernizing these factories”. The aim of the rehabilitation operations is to increase the production capacity and develop these factories, as well as the establishment of non-polluting industries to the environment using specialized international companies. Hariri disclosed that the working group in charge of this task has put some general conditions of contracting, that give priority to ensuring the rights of workers in those factories, improve their living conditions and grant them a number of advantages and incentives to retain all employees and their contribution to the process of rehabilitation and the payment of salaries, allowances and benefits and coverage of any increases, according to the laws and regulations worked by in Iraq; such conditions must be agreed on before signing contracts with any company to carry out the rehabilitation.

Hariri reviewed some facts about a number of industries, including: the Glass Company which will be presented at an estimated cost of investment of about $ 50 million, the General Company for Petrochemical Industry, which represents one of the pillars of Iraqi industry and where 4000 employees work, is put forth to investment at about 100-120 million dollars. Hariri expected that the Company of the Iron and Steel will need investment of about $180-220 million to rebuild the structure of the company, the furnaces and the production of iron needed by Iraq to support the reconstruction process; while the cement plants in Al-Qaaem, Sinjar, Karbala and Muthanna, will need investment estimated at about $ 360 million.

Minister of Industry expressed optimism of the consequences of putting these industries for investment, and that these industries will receive large number of offers, emphasizing that investment would be open for many other industries in case investors were available, such as the textile industries that are currently witnessing significant challenges to prove their worth like the Clothes factory in Najaf, one of the best factories in the Middle East, and which signed a contract for supplying global institutions with its production. It is expected that the staff wages in companies offered for investment will be more than these of their peers in public companies, and that the production capacities of some of those factories will rise to 120% of their design.

The minister confirmed that preference will be to the offers that serve the interests of the ministry, the employees and the State, praising the positive role of governors and provincial assemblies in supporting the investment process in Iraq, stressing that the ministry has set the announcement of those bids within 45 days, and that the process of selecting bidders will be within the week or two that follow, and that these investments will be at open periods ranging from 10-20 years.

With regard to the rehabilitation of the companies’ plants, the statement said that it was divided into three stages giving priority to the implementation of the plants according to a number of criteria represented in: the availability of raw materials used in production locally, the plants that receive significant demand for their products, reducing the import of materials produced in these plants and the stability of the security situation in the governorates where these plants are located.

Ministry of Industry said that the government's policy is clear concerning the investment and the shift from the public sector to the private sector or free market, and it will trend towards supporting the private sector and the Iraqi industry. This was announced by Iraqi Prime Minister and all the concerned ministries; the Ministry had actually begun applying the gradual transition and privatization of State enterprises and the support to increase their ability to compete in the market, and we are confident of their potentials because of the experience and the elements of success they possess, particularly in the market.

Hariri explained that most of the planned contracts will be based on finding the strategic partner, and preference would be to the one capable of providing modern services, technological possibilities widely known, rehabilitating the cadres and financing of this process. There is also a study to create a sort of tacit agreements, which show the diversity of contracts depending on the type and nature of the institution, saying that there was high demand from many Arab and regional companies to invest because they are sure that the poor security conditions will not last long, and some of them expressed a desire to invest even in unsettled regions.

On the salaries of these companies, he explained that in case of investing them there will be a greater chance for increasing grades from four degrees to 11 degrees in addition to the profit margin achieved, because some companies have stopped now due to their need for financing to be provided by the investor; however, the investment does not mean the government will abandon the employees of those companies, but they will continue to receive salaries from the government even in the private system.

Many bids received from international companies to invest | Iraq Updates

Iraq security strategy: So far, so good ADVERTISEMENT



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By HAMEED AL-MALIKI / The Institute for War & Peace Reporting

.
BAGHDAD, Iraq — It has been nearly two months since the Iraqi government and coalition forces launched a new security operation to curb the daily violence in Baghdad.

During that time, more than 90,000 U.S. and Iraqi forces have been deployed in the capital specifically for this operation.

So how do we Iraqis evaluate the effectiveness of the effort so far?

Most residents of the capital, I believe, would agree that the security plan is beginning to show positive results. The number of unidentified murder victims found on the streets, which had been as high as 100 a day, has fallen considerably. Car bombs and suicide bombings have also dropped significantly.

Families who had fled the city because of sectarian violence are beginning to return. Students are going back to their classes; weapons caches are being found and destroyed and many terrorist suspects have been arrested.

It feels as though some degree of security is gradually returning to the capital’s tense neighborhoods.

Under the plan, Baghdad has been divided into operational sectors, limiting the ability of militias, terrorists and criminal gangs to move or transport weapons and ammunition. Checkpoints operated by joint Iraqi-American units also provide a system of checks and balances, restricting possible abuse of power and miscommunication with the local population.

The joint Iraqi-American security forces are acting in a professional and flexible manner. Whenever and wherever they face problems and challenges, their plans are adapted accordingly. The military commanders are also reaching out to the local communities and establishing ties and communication channels to improve the security.

The relative success has prompted the military and political leadership to expand the scope of operations to cover Baghdad’s suburbs and neighboring towns, and to extend the timeframe of operations to the end of the year. This new development has been welcomed by most Iraqis.

The political and security efforts have had a positive impact on various aspects of life in Baghdad — a rise in the value of the Iraqi dinar against foreign currency and an upturn in trade at the Iraqi stock exchange market.

The Baghdad municipality also seems to be more active in cleaning the streets, clearing up refuse and planting trees and flowers in public squares.

All this is not to say that violence and brutal killings don’t continue to occur on a daily basis. But for the first time in a long time, there is a sense that someone cares about providing security and basic services to the average Iraqi. That in and of itself could go a long way in eventually dampening the insurgence.

Still, one overarching question remains: Will the combined Iraqi and U.S. “surge” be maintained in the face of continued violence and growing political pressure, both here in Iraq and in the United States, demanding the withdrawal of American forces?

Hameed al-Maliki is a political commentator in Iraq who wrote this article for The Institute for War & Peace Reporting, a nonprofit organization that trains journalists in areas of conflict.
.La Crosse Tribune - 6.0

Originally Posted by abbey56

Hi Thanks Lunar, It would appear that it was complete waste of time getting the FIL passed as it would appear that it will be sometime way in the future that foreign investers can come on board, looks like the same thing is happening with the HCL. What I cant understand is what is the advantage to Iraq in not revalueing their currency, absolutely nothing.

You're welcome Abbey
With the FIL, HCL, ISX, etc sitting on the verge of being finished...I believe they intend to announce them all together when the time comes which is why they all seem to be on hold right now. Don't get discouraged....

The Council of the Iraqi parliament meeting him and the 16-headed Dr. Mahmoud Almshahadani Speaker of the Chamber of Deputies today, Sunday, at the Conference Palace in Baghdad.

.It was hosted by the House of Representatives, Dr. Barham Ahmed Salih, Deputy Prime Minister of Iraq, who spoke before members of the Council on the draft document and the International Covenant signed by the Iraqi government recently, pointing out that the document is a partnership with the international community and it national vision on the Iraqi economy, it prosperous, and work on Iraq to be an active member of international and regional organizations.
.At the beginning of the meeting, Mr. President of the Council on the establishment of the solace of the martyr MP Mohamed Awad al afternoon in the Hotel Rashid Al Zawra.

وقبل.Before addressing the paragraphs included in the agenda request of the Attorney Hassan al-Shamri, representing Virtue Party bloc in the Council to authorize talk, pointing to the existence of confirmed information on the outline of the rebellion in the province of Basra, and the killing of their portfolios and members of his family and that his bloc has used peaceful means and negotiation in order to thwart this scheme but it failed, adding to the bodies that are still underway in implementing its plan, which appeared to be supported from outside Iraq, he alleged.

وقد .Commented Mr. Deputy Prime Minister, on the words of Deputy Shamari said : The government needs to specific information in this regard for submission to the competent authorities for this purpose, Mr. Muwaffaq Rubaie National Security Advisor to the events in Basra had been introduced in detail to the Prime Minister upon his return to Iraq was ordered to take a package of measures will be ratified in the ministerial committee, also pointed out that the central government is not a party to the conflict that is happening in Basra and we hope that the local government could materialize part of the dispute, we have the supreme security in the province, headed by the military rank of major mission of supervising and following up on Basra Governorate.

ومن.On his part, Hadi Al-Ameri Deputy Chairman of the Committee on Security and Defense Council to the presence of confirmed information on a peaceful demonstration in Basra Governorate in protest against the actions of the Governor of Basra, and called on all parties not to participate in this demonstration for fear that exploited for other purposes, has been endorsed by the Deputy Prime Nassar spring bloc chest in the Council with the Attorney Abbas Bayati suggested that the Council appealed to the people of Basra for him to calm the situation in which the President of the Council was invited to the announcement of the meeting between the heads of parliamentary blocs with the Commission on Security and Defense to discuss the developments in Basra.

.And on the covenant document which talked about the Deputy Prime Minister shared by a number of deputies in our interventions ask mostly from the obligations to be paid by Iraq in that document, he answered with the Deputy Prime Minister said : The entire draft document complete reform in Iraq from the political, economic and dealing with the phenomenon of administrative and financial corruption vision Iraqi.

.After the completion of the discussions the President of the Council announced that a special meeting of the Council hosted by the Deputy Prime Minister to talk about the covenant document in detail.

وفي.In another paragraph of the agenda was the first reading of the proposed law students supplement Iraqi universities and institutes, and as the second reading of the draft law to compensate affected by the military operations and errors military and terrorist operations.

.This has fully meeting rose at four.






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Chaired by Mr. Zubaidi Baqir Jabr and Minister of Finance Iraqi delegation to attend a meeting of Governors of the World Bank held in Washington 0

0The Minister of Finance, Mr. speech at the beginning of the meeting in which he thanked the International Monetary Fund for hosting the Iraqi delegation explaining the latest economic developments in Iraq, explaining the reasons for the failure to achieve rates of implementation of the budget for 2006, which amounted to the highest implementation rates for the ministries of 50% due to the security situation, which greatly impaired the companies Iraqi and foreign entry in the field or processing of contracts as well as the lack of flexibility and instructions to execute the contracts that were inherited from the former regime has released funds in the 2006 budget for the month of July of that same year, which means that the ministries did not take enough time to implement their budgets and the lack of expertise The lack of middle echelon cadres are capable of implementing such projects led to the delay in implementation of the Economic Committee under the chairmanship of Deputy Prime Minister Barham Ahmed Salih take measures to accelerate the implementation of the budget and encourage units expenditure on implementation why funds launched soon to ratify the 2007 budget at the end of the second month and balancing Act 2007 in the text of Article 14 that the ministries will implement 25% of their budgets until July 2007 allocations will be transferred to other ministries capable of implementation have been held by the Ministry of Finance recently held for nine ministries attended the service and 80% of the cadre and the Ministry of Finance to discuss those ministries in the implementation of projects have surprised us by the Minister of Communications that he had carried out 90% of its budget for 2007 0


وفي0At the end of his speech, the Minister of Finance that the current year will be much better than the previous year's rate of implementation of the budget 0-1
0The Finance Minister, Mr. extinguishing debt on the theme that there are Iraqi good signs from the Kingdom of Saudi Arabia to discuss the Iraqi debt extinguishment stressing that the ratio of debt reduction to 80% instead of 100% is the proportion of non-acceptable to the Iraqis because their debts and their words were for amounts in support of the war with Iran, which Saddam DISCORD point, a very important point for us and the Iraqi Allmwatuna 0
عد العراقلعراق0And Mr. Sinan Shabibi governor of the Central Bank of Iraq one of the members of the Iraqi delegation that there are good developments such as the inflation rate, which is currently 23%, stressing that there is disparity in the level of interaction with debts of Iraq and asked the Iraqi Central Bank governor says that the International Monetary Fund that the exemption of Iraq debt issue interest Fund and encourage and help Iraq and the IMF to complete their programs in Iraq 0
اتها0Mr. Khan and Chief of Staff of the International Monetary Fund the Fund optimism of good economic policy in Iraq and here that Iraq's record of achievements, stressing the need to reduce inflation and economic implementation of the budget and raise the rates, especially the implementation of the investment budget for the oil sector to increase production rates, he said, pointing out that next September will need to Iraq the Convention on the (SBA) from September 2007 to December 2008 in order to enjoy exemptions provided by the Paris Club and comes after the end of this Convention and the first implementation of the Convention Iraq each state 0 IMF suggested that there be a meeting in Amman short end of this month and another meeting in mid-May to discuss Article IV of the Convention and the completion of the current program 0
0He promised to the International Monetary Fund announced that the economic developments in Iraq in Sharm El-Sheikh meeting, where support Iraq's economic confident steps despite all the challenges facing Iraq and the economic policy is working smoothly with the fund, the World Bank has reported that 0
meeting was attended by Mr. Sinan Shabibi governor of the Central Bank of Iraq and adviser to Mr. Vice President and Mr. Vice Governor of the Central Bank and advisor of the Office of the Deputy Prime Minister and senior officials from the International Monetary Fund 0
Translated version of http://www.sotaliraq.com/

الغازThe strategic economic experts and the oil in Dubai looking technical and scientific law of gas oil






د.The invitation of Vice-Chairman of the House of Representatives, Dr. Sheikh. 16 – 4 – 2007 .Khaled al-Attiyah was organizing a conference of economists and oil overseers Iraqis and the Arabs to examine the oil, in the Rotana Hotel orchard and so on 4-16-2007.


لقانونThe head of the Energy Committee in the House of Representatives Iraqi d. Abdul Hadi Al Hassani of the Iraqi Observatory, that the purpose of the conference considered the law of oil and gas in a scientific and academic, and not emotional manner as rumors in the media, and to address gaps constitutional and legal problems facing the application of the law












.He added. Al-Hasani that the conference will have a economic and official figures such as Dr. Sheikh. Khalid Attiya, d. Barham Salih, the Minister of Oil, Dr.. Hussein Shahrastani, and the Minister of Planning Dr.. The Papan, and the Minister of Petroleum of the Kurdistan professor Asti Horani. البدريThe Secretary General of OPEC, Dr.. Abdullah Al-Badri


.And oil experts such as Dr.. Fadel Chalabi, and Professor Tariq Shafiq, d. Mahdi Hafez, and Mr. Farouk denominator.






وذكر.The d. Abdul Hadi Al-Hasani that the organization will be invited to media institutions in Dubai and the conference will be seminars and research in public and wide for the information of all the Iraqi people and other civil society organizations and investment companies in Dubai oil deployed to the Gulf to the oil and gas that is considered d. Al Hassani of the most important legislation after the Iraqi Constitution The investment law.






عراقيHe hopes d. Abdul Hadi Al-Hasani, a series of symposiums and conferences inside and outside Iraq so that the Iraqi people of the importance of the law and its impact on the direction of economic change and reconstruction of the Iraqi society
marsadiraq.com

Originally Posted by Lunar

Chaired by Mr. Zubaidi Baqir Jabr, the Minister of Finance
(Voice of Iraq) - 16 - 04-2007

The name of God the Merciful
The Ministry of Finance
Media Bureau
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History :


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16/4/2007

Chaired by Mr. Zubaidi Baqir Jabr and Minister of Finance Iraqi delegation to attend a meeting of Governors of the World Bank held in Washington 0

The Minister of Finance, Mr. speech at the beginning of the meeting in which he thanked the International Monetary Fund for hosting the Iraqi delegation explaining the latest economic developments in Iraq, explaining the reasons for the failure to achieve rates of implementation of the budget for 2006, which amounted to the highest implementation rates for the ministries of 50% due to the security situation, which greatly impaired the companies Iraqi and foreign entry in the field or processing of contracts as well as the lack of flexibility and instructions to execute the contracts that were inherited from the former regime has released funds in the 2006 budget for the month of July of that same year, which means that the ministries did not take enough time to implement their budgets and the lack of expertise

The lack of middle echelon cadres are capable of implementing such projects led to the delay in implementation of the Economic Committee under the chairmanship of Deputy Prime Minister Barham Ahmed Salih take measures to accelerate the implementation of the budget and encourage units expenditure on implementation why funds launched soon to ratify the 2007 budget at the end of the second month and balancing Act 2007 in the text of Article 14 that the ministries will implement 25% of their budgets until July 2007 allocations will be transferred to other ministries capable of implementation have been held by the Ministry of Finance recently held for nine ministries attended the service and 80% of the cadre and the Ministry of Finance to discuss those ministries in the implementation of projects have surprised us by the Minister of Communications that he had carried out 90% of its budget for 2007 0


At the end of his speech, the Minister of Finance that the current year will be much better than the previous year's rate of implementation of the budget 0-1

The Finance Minister, Mr. extinguishing debt on the theme that there are Iraqi good signs from the Kingdom of Saudi Arabia to discuss the Iraqi debt extinguishment stressing that the ratio of debt reduction to 80% instead of 100% is the proportion of non-acceptable to the Iraqis because their debts and their words were for amounts in support of the war with Iran, which Saddam DISCORD point, a very important point for us and the Iraqi Allmwatuna 0

And Mr. Sinan Shabibi governor of the Central Bank of Iraq one of the members of the Iraqi delegation that there are good developments such as the inflation rate, which is currently 23%, stressing that there is disparity in the level of interaction with debts of Iraq and asked the Iraqi Central Bank governor says that the International Monetary Fund that the exemption of Iraq debt issue interest Fund and encourage and help Iraq and the IMF to complete their programs in Iraq 0

Mr. Khan and Chief of Staff of the International Monetary Fund the Fund optimism of good economic policy in Iraq and here that Iraq's record of achievements, stressing the need to reduce inflation and economic implementation of the budget and raise the rates, especially the implementation of the investment budget for the oil sector to increase production rates, he said, pointing out that next September will need to Iraq the Convention on the (SBA) from September 2007 to December 2008 in order to enjoy exemptions provided by the Paris Club and comes after the end of this Convention and the first implementation of the Convention Iraq each state 0

The IMF suggested that there be a meeting in Amman short end of this month and another meeting in mid-May to discuss Article IV of the Convention and the completion of the current program 0

He promised to the International Monetary Fund announced that the economic developments in Iraq in Sharm El-Sheikh meeting, where support Iraq's economic confident steps despite all the challenges facing Iraq and the economic policy is working smoothly with the fund, the World Bank has reported that 0

The meeting was attended by Mr. Sinan Shabibi governor of the Central Bank of Iraq and adviser to Mr. Vice President and Mr. Vice Governor of the Central Bank and advisor of the Office of the Deputy Prime Minister and senior officials from the International Monetary Fund 0

Hello everyone. I especially like the comment that inflation was down to 23%. Of course we take each report with a gain of salt, but hopefully we will see additional indicators that the currency removal is having a postive effect on inflation. Which is what we would expect from the CBIs monetary policy. Thank You.

Dana Gas signs northern Iraq deal
Arabian Business - [16/04/2007]

The UAE's Dana Gas has signed an agreement with Iraq's Kurdish regional government (KRG) to evaluate the development of the region's gas reserves, the company said in a statement on Sunday.

The deal may eventually lead to the semi-autonomous region in northern Iraq exporting gas to neighbouring countries.

Dana Gas also won a service contract from the regional authority for the rapid installation of processing and transmission facilities at the Khor Mor field to begin supplying gas for power generation by January 2008.

Dana Gas' initial investment commitment will be around $400 million. It marks the first entry of a Middle East company into the Iraqi energy sector since the U.S.-led invasion in March 2003.

Dana Gas and the government will draw up plans for a large gas-fed industrial complex, to be named Kurdistan Gas City, which may include petrochemical, metals and other heavy industry plants.

"This is a high level broad agreement whereby we work together with the regional government to develop the long-term plans for overall gas development and optimal utilisation," Dana Gas Business Development Director Majid Jafar told Reuters.

"There is an immediate need for power generation as a priority, there is also a strong desire to use this valuable resource to encourage industrial and broader economic development and job creation, and longer term there is also the possibility for potential exports, most likely by pipeline."

The Kurdish region has disagreed with some members of Iraq's central government over production sharing agreements (PSAs) it signed with oil companies such as Norway's DNO long before Iraq's cabinet endorsed a draft oil law in February.

The companies were exposed to the risk the contracts would be revised under the new law, which is still awaiting parliament's ratification.

Jafar said he was confident that the region was a sound investment prospect. Dana Gas' deal, as a service contract rather than a PSA, was unlikely to attract controversy, he said.

Dana Gas plans initial production of 150 million-200 million cubic feet per day (cfd) from the Khor Mor field, which was never fully developed and was shut after the first Gulf War in 1991. It will build about 180 km (111.8 miles) of pipelines for the gas with larger capacity to handle future increases in production and any additional discoveries.

The United Arab Emirates company aims to eventually double output from Khor Mor to 300 million cfd, depending on reserves that it finds in place. The UAE's largest publicly-traded energy company by market value will also make an appraisal study of the Chemchemal gas field.

An industry source estimated possible reserves at both fields of between 3 trillion to 4 trillion cubic feet, but said reserves could be much larger.

The gas will initially supply two power plants under construction near the cities of Arbil and Sulaimaniya.

"The Kurdistan region is in urgent need of natural gas as fuel for electricity generation projects that are long overdue and will benefit not only the people of the Kurdistan region but contribute to affordable electricity for the whole of Iraq," the prime minister of Iraq's Kurdistan region, Nechirvan Barzani, said in the statement.

Use of domestic gas for the region's power plants will save the region up to $1.5 billion as it substitutes the use of liquid fuels in generators currently used.

Dana Gas will be able to develop the project quickly as it will install a gas splitter it had already built and earmarked for another project.

That probably gave it an advantage over competitors for the service contract, who would have taken two years to build the infrastructure needed for gas production and processing, industry sources said.

Dana's investment could be the first of many by UAE companies in the Kurdish region.

"I know that other UAE companies from other economic sectors are looking at investing," Jafar said.

Dana Gas is the UAE's largest private-sector energy company by market value.

Dana's $1 billion acquisition of Centurion Energy in January made it one of Egypt's largest gas producers and was part of the UAE company's strategy to expand exploration and production of gas throughout the Middle East.

Dana will work with its affiliate Crescent Petroleum in the Kurdish region.

Crescent, which is a major shareholder in Dana, has other projects in Iraq.

Earlier in April, Crescent said it would work with Iraqi officials to study an oil exploration area in the country's south near the Kuwaiti border.

Crescent has also drawn up a development plan for Iraq's giant southern Ratawi field.

Chevron confirmed as key sponsor of Iraq Oil, Gas, Petrochemical & Electricity Summit
Al Bawaba - [15/04/2007]

Chevron has confirmed its role as a sponsor of the forthcoming Iraq Oil, Gas, Petrochemical & Electricity Summit, which will take place on 28-30 May 2007.

The summit has been organised to bring together key Iraq Government decision makers in the energy sector and international operators seeking partnership opportunities in both the upstream and downstream industry.

The summit will welcome representation from the Iraqi Ministries of Oil, Industry & Minerals and Electricity, as well as the Iraq Energy Council, Investment Promotion Agency and the Kurdistan Regional Government (KRG) Ministries for Natural Resources, Industry and Electricity. It will also host many of the state companies operating under the Iraqi Ministry of Oil and senior representatives from the Iraq Reconstruction Management Office (IRMO).

This historic landmark event will be the first of its kind for the most important sectors of the Iraqi economy.

Chevron Corporation is one of the world's leading energy companies. With approximately 56,000 employees, Chevron subsidiaries conduct business in approximately 180 countries around the world, producing and transporting crude oil and natural gas, and refining, marketing and distributing fuels and other energy products. Chevron has been a partner in the Middle East for over seven decades with major operations currently in Saudi Arabia, Kuwait, and Qatar.

With the world’s second largest proven oil reserves, Iraq is well positioned to be a major contributor to global energy markets. International companies have the unique opportunity to help Iraq rebuild and develop its energy resources for the benefit of the Iraqi people. With the recent developments around a national hydrocarbon law, the timing of the summit could not be better.

For more information about Chevron, please visit:Chevron Corporation Home Page