Thread: Iraq/Dinar News until 5PM CST May 10,2007

Accused Shahrastani relying on misleading information ...

BAGHDAD : Oil Workers Union set a strike date for Thursday
news on 5 - 8-2007, 4:20

Accused Shahrastani relying on misleading information ...BAGHDAD : Oil Workers Union set a strike date for Thursday

Basra-Aziz called life-08 / 05 / 07

The Federation of Trade Unions of oil next Thursday, May 10 (May) date for a general strike and comprehensive peace in the South Oil Company and its subsidiaries had in the provinces of Basra, Amarah, Nasiriyah and Samawah.

He accused Emad Abdel-Hussein, Vice President of the Russian Oil Minister Dr. Hussein Shahrastani b «listening to the senior staff in the ministry, Edillonh in fact, the ability of oil production in the south». Describing this b «conspiracy to thwart the production process in the southern oil fields to force the government to ratify the Law of Oil and Gas» threatened that if the law was ratified «We will strike wider strike Thursday».

He denied that the Russian deputy to strike this relationship to what is happening politically in the province, said that «the trade union organization of civilian non-politicized, and had nothing to do with one, and it is not subject to pressure from the party« Virtue »or any other party».

He stressed that «legitimacy of the demands of the strikers identified», continued : «We demand the return of the money withheld from the annual profits of associates, and stop deducting 20% of the oil revenues for the Ministry of Defense, knowing that it does not go to the ministry but leaked into other outlets other».

He stressed that «this strike will not stop only after obtaining all the demands», and said that «nine other companies belonging to the South Oil Company will join the Adrabena».

He explained that «union will strike to support the government and protect the national wealth from the exploitation of the American and British investors», increased : «We will not allow anyone to interfere in our oil industry, but with the entry of global companies according to established criteria, we do not accept participation projects which appeared in many items of the oil and gas, and the central government to be the owner and controlling the total production and export of oil».

Experts believe Naftion in Basra that «a division of oil in the provinces of Najaf and Karbala, which lies 400 km from the production fields in Basra and not to expand the Shuaiba refinery near the oil fields major political issue concerning the fact that the minister Shahrastani allied with Mr. President« Supreme Council for Islamic Revolution »Aziz Hakim, who strives in order to establish a federal center and south ».

Faruk al-Assadi, Secretary General of the Federation that «Based on strike in the Federation of Trade Unions of Oil had previously received threats from the Ministry of Oil to refer them to justice on charges of disturbing the peace and disrupting production if the strike carried out». He pointed out that «minister forget that the right to strike is guaranteed in the Constitution, and we go down the legal road».

Translated version of http://www.iraq4allnews.dk/index.php?sec=home

Draft of Iraqi oil bill criticized by Kurds, Sunnis
By Edward Wong, Sheryl Gay Stolberg
08 May 2007 (New York Times)

Kurdish and Sunni officials expressed deep reservations Wednesday about the draft version of a national oil law and related legislation, misgivings that could derail one of the benchmarks of progress in Iraq laid down by President Bush.
The draft law, which establishes a framework for the fair distribution of oil revenue, was approved by the Iraqi Cabinet in late February after months of protracted negotiations.
The White House was hoping for quick passage to lay the groundwork for a political settlement among Iraq's ethnic and sectarian factions. But the Kurdish concerns have created doubts about the bill even before parliament takes it up for debate.
The Kurds have taken issue with a provision that was quietly packaged with the draft oil law by the Shiite-led Oil Ministry late last month.
The measure would essentially cede management of nearly all known oil fields and related contracts to a state-run oil company to be set up after the law is enacted, said Khalid Salih, a spokesman for the Kurdish regional government.
Salih said the provision violated a clause in Iraq's constitution that says the central government must work with regional governments to determine management of known fields that haven't been developed.
The Kurds, who have held effective autonomy in northern Iraq since 1991, want maximum regional control over oil contracts.
The provision is part of four "annexes" that will be debated with the draft oil law in parliament. Objections to any of the annexes would stall passage of the law.
"We are worried about these ideas put into the annexes," Salih said. "It worries us a lot."
Parliament members say it is almost certain that no law regarding oil would be passed without Kurdish approval.
Adding a further complication, Sunni lawmaker Saleem Abdullah said Wednesday that the main Sunni bloc objected to any discussion of the law in parliament at this time.
"It is inappropriate since the security condition is not encouraging," Abdullah said. He said Sunnis worried that the law would give foreign companies too large a role in Iraq's oil industry.

Draft of Iraqi oil bill criticized by Kurds, Sunnis | Iraq Updates

Brownback pushes plan to divide Iraq into Sunni, Shiite, Kurdish states
By Rob Hotakainen
08 May 2007 (The Seattle Times)

Sen. Sam Brownback says there's only one sure way to bring peace to Iraq: Divide the country into three states and separate the warring factions.
With Congress and the White House at loggerheads over a proposed timetable to end the war, the Kansas Republican is part of an unlikely Senate duo that's promoting the plan to partition Iraq.
Brownback and Democratic Sen. Joseph Biden of Delaware, both candidates for president in 2008, say it would give breathing room for Sunni Muslim Arab, Shiite Muslim and Kurdish leaders.
"I do not agree with setting a timetable for pulling out of Iraq," Brownback, a Senate Foreign Relations Committee member, said in an interview. "The day we pass that is the day al-Qaida declares victory. ... This three-state, one-country solution is your only viable political solution."
At the first nationally TV debate for 2008 Republican presidential candidates Thursday night, Brownback touted the plan when asked whether he'd differ from President Bush on the Iraq war. Some analysts say it could be a risky move for Brownback, who might lose favor with conservatives by bucking the president.
The Bush administration, which is aiming to unite Iraq under one strong federal government, dismisses the plan. But it's winning attention on Capitol Hill because it's coming from two senators at opposite ends of the political spectrum, both with serious foreign-policy credentials.
Biden, chairman of the Foreign Relations Committee, said the plan would allow the three states to make decisions involving "their local police, their education, their religion and marriage - the very things they're fighting over."
He said the Iraqi federal government would handle common interests such as securing the borders and distributing oil revenues.
Critics say political solutions can't be imposed on Iraq. "It's awfully hard for us, and frankly maybe slightly arrogant of us, to try to decide what politically will work for that country," said Sen. Claire McCaskill, D-Mo.
Congress had to return to the drawing board last week after Bush vetoed a war-spending bill that would have forced him to begin withdrawing troops by Oct. 1.
Brownback said the stalemate gave Democrats and Republicans a chance to come together.
Peter Galbraith, a former U.S. ambassador to Croatia who's advised the Kurds, backs the plan. He said most Iraqis don't want civil war but have rejected the idea of a unified Iraq.
He said Iraq's new constitution would allow the country's three main groups to establish their own regions, each with its own government, army and control over oil resources.
Secretary of State Condoleezza Rice, asked about the partitioning plan recently, noted that Iraqis aren't advocating such a structure.
"I don't think it is practical, particularly along ethno-sectarian lines, to divide Iraq up and give authority based on your sectarian identification, to say there's a Shia part of the country, a Sunni part of the country, a Kurdish part of the country," Rice told RealClear Politics. "Baghdad is a completely mixed city. What becomes of Baghdad? ... If you try to do this, I think you're going to have an explosion."

Brownback pushes plan to divide Iraq into Sunni, Shiite, Kurdish states | Iraq Updates

International convection: 9 commitments in 3 files
SHARM EL-SHEIKH, Egypt, 07 May 2007 (Al-Sabaah

International convection conference which has ended its works Thursday, has resulted on extinguishing of 30 billion dollars of Iraq debts and to observe Paris Club commitments in addition to give Iraq new loans of 5 billions as a response to international community request to rebuild Iraq and continuo the political and security support to Iraq government in order to achieve security, stability, national reconciliation and strengthen political process.
International convention document has included 9 international commitments toward Iraq represented in canceling debts, canceling compensation, representing loans, financial, investment, managing aids, developing private sector strategies, signing international agreements through regional and international initiatives.
Document includes three major files: political, economical and security. Political side include putting a timetable of 15 points to legislations that to be signed before the end of 2007.
Convection has listed number of financial and economical goals. Security side includes stressing on Iraqi army and police to have security responsibilities throughout Iraq before the end of convection period

International convection: 9 commitments in 3 files | Iraq Updates

Politicians: Iraq needs national compact
Baghdad, 08 May 2007 (Al-Sabaah)

Many observers and politicians support holding a conference which imposes all parties on cooperation according to international compact, which paved the way to national consensus supports the national unity Government and back up it.
MP Hassan Senaid said political forces which depend on regional support would loose, he described these forces as not agreeing with the Govt.
While MP Saleem Abdullah referred to necessity of national compact and he suggested set timetables by political blocs to changes and results of the international compact.

Politicians: Iraq needs national compact | Iraq Updates

Pensioner: proposed modifications to decrease
Baghdad, 07 May 2007 (Al-Sabaah)

Several pensioners have warned parliament upon what they have been seen of harm upon the modifications which the Iraqi parliament is engaging in performing them in pension law which had been put forth, clarifying that these modifications could decrease pensioners' salaries not rising them.
The pensioners said that the intentions of the parliament are to promote their standard of living and provide appropriate living for them; according to this their salary had been counted.

Pensioner: proposed modifications to decrease | Iraq Updates

Announcement No.(919)

D.G. of Foreign Exchange Control

The 918 daily currency auction was held in the Central Bank of Iraq day Tuesday 2007/5/8 so the results were as follows :

Details Notes
Number of banks18-----
Auction price selling dinar / US $1264-----
Auction price buying dinar / US $-----------
Amount sold at auction price (US $)87.865.000-----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $)87.865.000-----
Total offers for selling (US $)-----------

1. Note that : selling price of remittances dinars (1263) / $. The sale price cash dinars (1275) / $.
2. The quantity sold, the amount of cash (16.945.000) and $ remittances amount (70.920.000) dollars.

Originally Posted by bultn

Announcement No.(919)

D.G. of Foreign Exchange Control

The 918 daily currency auction was held in the Central Bank of Iraq day Tuesday 2007/5/8 so the results were as follows :

Details Notes
Number of banks18-----
Auction price selling dinar / US $1264-----
Auction price buying dinar / US $-----------
Amount sold at auction price (US $)87.865.000-----
Amount purchased at Auction price (US $) ------
Total offers for buying (US $)87.865.000-----
Total offers for selling (US $)-----------

1. Note that : selling price of remittances dinars (1263) / $. The sale price cash dinars (1275) / $.
2. The quantity sold, the amount of cash (16.945.000) and $ remittances amount (70.920.000) dollars.

Hmm, getting awfully close to that 1260 rate...... Wonder if it will go past that mark, stay at that rate when it gets there or if something else altogether will happen??? Hmm, guess we will know soon, eh?

Originally Posted by TerryTate

Hmm, getting awfully close to that 1260 rate...... Wonder if it will go past that mark, stay at that rate when it gets there or if something else altogether will happen??? Hmm, guess we will know soon, eh?

Interesting,

a few months back many of us thought that 1260 was just a rate that was set to have something to build there budget on, and would have nothing to do with a RV. But i must admit that it feels like 1260 could be that "magical" number we are waiting for.

And come to think of it, if the budget is based on "1260" moving the decimal 3 steps would make it very easy for them to adjust the budget.

I think, hope and pray that this will soon be over and we will all be smiling on our way to the bank.

Originally Posted by Raditz

And come to think of it, if the budget is based on "1260" moving the decimal 3 steps would make it very easy for them to adjust the budget.

1.26 = 0.79 USD/IQD. Some people have wished for 1:1 but I'd be quite happy with 0.79.