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

Parliament-Electricity
Power failure adjourns parliament session
By Santa Michael
Baghdad, May 8, (VOI)- Power failure in Baghdad's green zone caused the adjournment of an Iraqi parliament's session on Tuesday.
"Today's session was adjourned because the electricity cut off from the parliament hall," legislator Mohsen al-Saadon, from the Kurdistan Coalition, told the independent news agency Voices of Iraq (VOI).
"According to the parliament's regulations the session has to be adjourned till tomorrow," he explained.
Iraqi authorities so far did not give the cause of the power failure which took place today in Baghdad's green zone

Parliament-Electricity :: Aswat al Iraq :: Aswat al Iraq

i wonder if the power is back on today, could be another reason for no auction?

Thanks for the info....

Man it is so bright here during the day, hell you dont need lights. It's about 101 and bright as hell. C'mon CBI I want to see if we are getting a little closer to 1260.

Originally Posted by cashNsoon

Man it is so bright here during the day, hell you dont need lights. It's about 101 and bright as hell. C'mon CBI I want to see if we are getting a little closer to 1260.

LOL....if they have no electric though, they can't use the puters for auction numbers......actually i'm hoping someone can throw this out of the water, i'm hoping there is another reason for the auctions not happening

Originally Posted by rvalreadydang

LOL....if they have no electric though, they can't use the puters for auction numbers......actually i'm hoping someone can throw this out of the water, i'm hoping there is another reason for the auctions not happening

ME TOO!!!!! ALMOST 1/2 TRILLION DINAR TAKEN OUT OF CIRCULATION THE PAST 4 AUCTIONS!!!!! HOPEFULLY SOMETHING BIG IS GOING TO HAPPEN SOON!!!!!!

Originally Posted by Hkp

The constitutional amendments committee submit its recommendations to the Iraqi Parliament week

(صوت العراق) - 09-05-2007

(Voice of Iraq) - 09-05-2007

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The constitutional amendments committee submit its recommendations to the Iraqi Parliament next week

BAGHDAD : «Middle East»
The members of the Committee formed to reform the Iraqi constitution, yesterday, they hope to make recommendations to the parliament next week, in a major step of the political criteria set by Washington to Baghdad.
This announcement comes in the light near the impatience of the United States of the progress made by Prime Minister Nuri al-Maliki in the implementation of the power-sharing plans, which the United States says it is essential to curb sectarian violence in Iraq.

Under the first constitution after the fall of Saddam's regime that provides for the commission to prepare proposals to amend the Constitution recommendations of the parliament in a term of up to four months from the commencement of work.The Committee, consisting of 31 members and includes Shiites, Arabs and Kurds year work in the November 15 (November) 2006. The Committee said, yesterday, that because of holiday Parliament in January (January) and February (February), has become the new deadline for completing the work is May 15 (May).

He said Hassan Sunaid Committee member who is a member of the ruling coalition, told Reuters «according to article 142 of the Constitution, the history of 15 of the current month is the deadline for submission of a revised draft constitution to parliament». He added : «there are still some outstanding issues, but there is still a week until the deadline, and, God willing, all will try to resolve outstanding points before the expiration of the period».It was another member of the Commission hoped the extradition recommendations by next week.

The Iraqi Constitution in 2005. The Shiites and Kurds voted by a large majority in favor of the constitution, while Sunni Arabs opposed.

Among the most controversial items, which allows those provinces to obtain a separate autonomy from Baghdad and the formation of federal regions. There are also items on the Arab identity of Iraq, and those for the prevention of former members of the Baath Party filling government posts.

It is feared the year to allow the federal system of the Kurds in the north and Shiites in the south where oil wealth, secession and the formation of their independent, which means annihilation of the political year. The Kurds resisted the formula for the Arab identity of Iraq.

Have to be approved by parliament, where the majority Shiite any constitutional amendment absolute majority before submitting amendments to a referendum. If a two-thirds majority in three provinces of Iraq's 18 provinces constitutional amendments, it automatically falls. Which gives the Kurdish minority, in fact, veto the amendments.

Translated version of http://www.sotaliraq.com/

next week is lookin pretty interestink!!

Yeah and NO A/C could be hazardous to their health..........They could write it on a post-it and run it over to another bank. LOL

Originally Posted by cashNsoon

Yeah and NO A/C could be hazardous to their health..........They could write it on a post-it and run it over to another bank. LOL

LOL!!

Discounting Experts from the Iraqi Oil Law
Discounting Experts from the Iraqi Oil Law
Dar Al Hayat - [09/05/2007]


The Iraqi oil law was subjected to unprecedented criticism, questioning and objections. The last burst came from a plenary of experts and spe******ts who participated in the Amman oil experts seminar in Jordan on February 17 to discuss the pros and cons of the law.

Due to the extensive debate surrounding the issue, I decided to limit myself here to reviewing observations on the prevailing conditions that accompanied this law and the reasons that lead to these conditions.

The need for any given law normally stems from constitutional articles defining the law in question. Since a large number of these articles have been shrouded in vagueness, marred by contradictions, and even dominated by a rather outlandish logic that sought to discredit the intentions of the central government, the oil law sought to destabilize and undercut the natural role of the central government and, in some instances, contained proposals in favor of a part like Kurdistan over central Iraq in any future disputes between the interests of the two.

The law also sanctions contracts independently signed by Kurdistan with a number of oil companies in 1992 and guarantees the protection of these agreements against any revisions or substantial future amendments.

Three expert and competent teams deeply involved in the Iraqi oil affairs were initially tasked with preparing the first draft of the law. The aim of these experts was to resolve the constitutional conflicts arising from the mentioned articles, the practical operational requirements of the oil industry, and the need to protect Iraq's oil wealth.

This draft, however, was embroiled in the political arena and brought under the mercy of the wrangling and maneuvering of giant partisan entities, and just like what took place on the drafting of the resolution, pressures were applied and sides were taken, leading to considerable changes in key and central aspects of the decision-making process, which strangely enough took place while excluding the three-party team tasked with preparing the draft law, forcing one of these experts to publicly denounce the outcome of the first draft and the subsequent withdrawal of a second.

Since the law was mainly concerned with managing what is widely believed to be the region's second largest oil wealth, it progressed under the continued US interference and pressure represented by its various symbols of authority, the least of which came from the US envoy to Iraq as evident in the scores of public statements.

The progress toward the ratification of the law, particularly during recent weeks, was marred by unrelenting pressures on all sides aimed at accelerating the legislative process, which led to reducing the time allowed to debate the bill in the cabinet prior its approval to a few hours.

It was also remarkable that all this took place behind closed doors, as nothing related to the law was made available to the public, which would have engaged Non Governmental Organizations in these discussions.

What was even more dangerous was the exclusion of a broad cadre of oil experts who were behind the renaissance witnessed by the oil industry since the 1950s, which earned them the admiration and respect of the international oil circles for more than 40 years, preventing them from having any role in enriching the draft project with their observations and proposals.

Therefore, it would be reasonable to ask: why have more than 100 oil experts - each having spent at least 30, and sometimes even 40, years serving the oil industry in Iraq - been eliminated?

Despite these observations, I fully support Iraq's need for a law that adequately regulates the Iraqi energy sector and rescues it from the state of neglect and deterioration that has been ailing the Iraqi oil sector since the 1980s, and which can protect such wealth from technical abuse and economical pillaging.

The achievement of such patriotic goals calls for deliberation, transparency, and the all-inclusive participation of everyone.

Law number 80, passed in 1960, saved Iraq's oil resources from the greed and the exploitation of international oil monopolies, and was among the most important achievements of the July 14 Revolution. Therefore, we must prevent the return of these monopolies from between the nets of the occupation.

Report: Iraq could produce more oil
Report: Iraq could produce more oil
Business Week - [09/05/2007]


Oil production in Iraq could double to 4 million barrels a day if violence ends and facilities are modernized, a Colorado energy consulting company says in a forthcoming report.
Ron Mobed, president and chief operating officer of IHS Energy, said Tuesday the study is the first detailed overview of Iraq's oil reserves and production potential since the war began.

The report, expected to be released in the next few weeks, used experts in Iraq to develop its field-by-field analysis, Mobed said. IHS is based in suburban Englewood.

IHS found that Iraq has oil reserves of up to 116 billion barrels, validating previous estimates, Mobed said. It also found there could be up to 100 billion barrels more in the country's western region, which is the epicenter of the country's Sunni Arab dominated insurgency.

The U.S. Geological Survey has estimated the country's additional reserves at 45 billion barrels.

The western region currently has little to no oil and gas production, contributing to fears among Anbar residents that they will be left with little more than date groves and sand while the Kurds and Shiite regions of the north and south divide the vast oil wealth.

The IHS estimate on the potential reserves in that region are based on four wells drilled in the area in 2002 and 2003 by Syria's national oil company in conjunction with Iraqis. It also factored in research on the area's geological structures and formations.

Mobed acknowledged it wasn't a firm figure.

"There's going to be a big error bar on this," he said.

Not counting Canada and Venezuela's vast bitumen deposits, Iraq currently has the world's third largest oil reserves.

But years of neglect have resulted in shut-ins in oil fields, significantly reducing their output. That reduction has been magnified by repeated insurgent attacks on the country's vast oil infrastructure, including pipelines and refineries.

If companies felt safe sending workers to Iraq and investing money there, Iraq could again match or exceed production levels it had before the first Gulf war, Mobed said.

Before the U.S.-led invasion of Iraq, the country was producing 2.5 million to 3 million barrels per day, a level that has since tapered off to about 2 million barrels per day.

The report will not deal with the political problems in Iraq or speculate on when the situation may improve, Mobed said.

"When the time comes for people to feel sufficiently comfortable to make investments there, that's when the clock starts on achieving those production numbers," he said.

The IHS report said most of the current production comes from the south because facilities in the north are subject to sabotage attacks.

Discounting such attacks, however, most of the oil exports are generally routed through the south -- where pipeline capacity is much greater -- and loaded on to tankers. The northern route, which links the fields of Kirkuk to Ceyhan, in Turkey, has a significantly smaller capacity.

The map-based report, originally set to be released Wednesday, was delayed so new information could be added. Mobed said that wouldn't change production estimates included in an overview released to the public.

A version of the report that does not include the production estimates will be sold to energy companies.

The report is being completed as the Iraqi government works on legislation that is expected to allow energy companies to sign contracts to explore the country's untapped oil reserves.

Because of the war, major Western firms still expected to wait five years or more before actually beginning large-scale production.

Some analysts think China, hungry for energy to fuel its rapidly growing economy, will be more willing to take security risks to develop Iraq's oil.