Thread: Iraq/Dinar News until 5/23/07 Midnight CST

Multinational grab for Iraqi oil wealth
Malaysia Sun - [20/05/2007]

An Iraqi law could mean overseas companies will control their oil fields for over 20 years.

A British campaign group, Hands Off Iraqi Oil (HOIO), has singled out the role of Shell, which it said had been working closely with Britain and the U.S. to create a policy to allow multinational companies to take control of Iraq's oil.

A spokesman for HOIO claims there has been a revolving door between Shell and the Foreign Office, with four of the last five permanent heads of the Foreign Office going on to become directors of oil and gas companies, two of them at Shell.

HOIO says a lobby group, working on behalf of BP, Shell, ExxonMobil, Chevron, Total and ENI, has been advised by the U.K. government on strategies for influencing the Iraqi government.

In March, an all-party group of British MPs expressed concern about involvement by the UK government in drafting Iraq’s new oil laws.

Meanwhile, The New York Times has reported that over between 100,000 and 300,000 barrels a day of Iraq’s oil production is unaccounted for and could have been siphoned off through corruption or smuggling.

Originally Posted by goldraker

Sorry I don't kiss & tell!

Thats manly or not!

Originally Posted by dinartank

What bank here in the US you can have a account in Euro and when you with draw to write a check gets converted into dollars? Or say i go to the ATM and with draw from my account it converts into dollars. Does this exist? Wachovia doesnt have this?? Who does? Thanks

Great question. I was wondering this myself.

Oil in a week-stealing Iraqi oil ... Explanations and possibilities
Source : Dar Al-Hayat-20 / 05 / 2007

The newspaper «York Times» American last Saturday before a report leaked from a government circles, that about 100 thousand to 300 thousand barrels of crude oil a day stolen in Iraq during the years of occupation four years, the report calculated an average price per barrel during this period is 50 dollars. Therefore, if we consider the rate of oil stolen about 200 thousand barrels per day, this means that the price is estimated at ten million dollars a day.

According to the newspaper report, a draft of the final report prepared by the Accounting Office of the American government issued this week and is the most comprehensive of its kind. It should be noted that the Office of Public Integrity in the Iraqi Oil Ministry and the Office of Inspector General in the American Army, published reports similar results.

Altqureiralaker but did not reach a final conclusion about what happened to the missing oil. A substitute for the different interpretations, in addition to corruption and smuggling, including the risk of overstatement in the quantity of Iraqi oil production, which is modified at the present time about 2 million barrels per day, or who obtains a result of the leak blowing the pipes. The newspaper quoted an expert in energy works for the State Department, as saying that the loss caused by the oil leakage resulting from the pipeline explosion, or provide inaccurate information on the quantities of production, which has not been calculated quantities of water that accompanies oil in the production, or the possibility of theft by armed militias in the south.

The timing of the issuance of this report is very important. It will be the Iraqi Parliament in the coming days to discuss a draft law oil significantly reduces the validity of the Oil Ministry in Baghdad, responsibility and oversight of the overall operations of oil in the country, turning it instead to regional, provincial and local officials. , Pressed the American administration repeatedly and publicly on the passing of this law, despite the opposition faced by Iraqi oil experts, and some political parties.

There are certain methods are known to steal Iraqi oil, including changing the breakdown of bills of lading or manipulation of the quantity of oil supplied tankers, especially with the absence of necessary equipment for counting, and smuggling through small ports designed for this purpose on the Shatt al-Arab, D pipeline subsidiary to steal largest possible quantity of oil from pipelines peoples of the State. Such operations are carried out by armed gangs or militias affiliated parties, or corrupt staff.

The voluminous amount of oil stolen, it could be only one group was responsible for this operation, but several groups, large and small, influential and supported and distributed in different regions of the country. If we assume the figures for oil lost in this report, is a huge and unprecedented in any of the producing countries - Nigeria was in the past considered the most havoc in this area, but this report puts Iraq on the back burner first unchallenged, with deep regret.

The fundamental question that did not address the report, is why this situation of chaos and looting after all these years of occupation? Where are the fleet in the northern Gulf, which could not put an end to smuggling operations, which can not conceal one? Why not hold the local authorities or the occupation forces groups responsible for the largest oil-smuggling operations in the history of the global industry? How Iraq will be able to build a modern oil industry again when steals 10% of oil daily and systematically and publicly?

Originally Posted by goldraker

If and when they pass the HCL. It will not affect the dinar in any way. Until they get all of their debts negotiated! So at the end of the day. We are doing a circle jerk, or chasing the tail round and round again!

My suspicions are confirmed - definitely a "girlyman"!

Originally Posted by Bill

Thats manly or not!

You would have to say - NOT!

Latest news : Today begins talks between Baghdad and Kurdistan on the Law of Oil
20.05.07

It is expected to begin today, Sunday, in Baghdad, talks between the central government and the government of Kurdistan on the Law of Oil, which is still political leaders are hoping to pass when it was presented to Parliament during this May.


Sources government in Kurdistan there any differences between the territorial government and the central government with regard to some issues related to oil and natural wealth. He said natural sources in the territorial government Ahti seminar in press statements before heading to Baghdad with the head of the territorial government, "The topic of shared natural wealth and the oil that had not been agreed upon so far does not mean there is disagreement between the two sides."

He explained that "all of the matter is that the government of Kurdistan region have their legitimate demands of the oil resources and enshrined in the Constitution," He pointed out that "the president of the territorial government Nigervan Barzani will attend all meetings and discussions to be held between the two sides this week in Arbil and talks Irbil and Baghdad seeks to develop other formulas to be more realistic, serious and safeguard the rights of all parties."

The statement of the Council of Ministers in the government of Iraq's Kurdistan region Nigervan Barzani said that the Chief Minister arrived in Baghdad on Saturday evening, heading a delegation of political and administrative territorial government.

The statement, which was broadcast on the web site of the government of Kurdistan on the Internet, that it is "expected to begin Chairman of the Council of Ministers of the region for meetings and meetings with officials in the federal government Sunday."

According to the statement, the talks will exchange views and opinions on a number of files such as oil and natural wealth and territorial budget and Public Peshmargas and military relations between the province and the federal government and the issue of permanent Iraqi constitution.

Accompanying Najirfan Barzani in his Sarkis Aga Jan, Minister of Finance and Minister of Waste seminar natural wealth in the government of Kurdistan region and a number of political and administrative assistants to the President of the Council of Ministers of the region and military officials in the province.

Economic event : Municipal angels in the club .. Symposium on the contents of a draft bill of oil and gas
21.05.07

Babylon / Mohammed Hadi
The governing body of the Municipal Club symposium to discuss the contents of a draft bill of oil and gas for clarification and the exchange of readings and hear the views of spe******ts in order to enrich the draft and access to the convictions could arrive at what serves the national interests and the beginning of the seminar which was held last Friday afternoon at the club talked d gardens.

Kabi Morgan director symposium, saying everyone knows that 93% of the budget of Iraq depends on oil, it is necessary to make this law serves march Iraq has been accused of all investing companies looted wealth or espionage Today, the most serious situation in Iraq is the oil and gas that comes to our generation, but it concerns the future generations of Iraq and we have a lot of different countries in the world have engaged in similar experiences How useful this law and Mamdi benefit from these tests

After that, the guest of the club, Dr Ayad Mohammed Ali Bach doctorate in economics Chief industrial management in the College of Administration and Economy, who began his initial vision of the law, explaining that if the economy is the heart of people's lives, the oil represents the heart arteries, whether in developing produced or consumed.

Readings variety
D occur. Ayad Bach on the positive things included in the project and were started by saying :
The first article was consistent and compatible with Magaet in Articles 111-112, which stipulated that the oil and gas wealth is the property of the people and the need to distribute based on population size and deprivation suffered by the size and environmental impacts result, this article consistent with the focus of many positives in the interest of Iraq and its people
Eight law limiting oil and gas exploration and production operations, not storage, marketing and refining, and this paragraph affirms and accepts confusion emphasis on national sovereignty

Article IV paragraphs
Between the first person distinguished Iraqi and foreign and gave priority to the Iraqis and this article could be seen that the law preferred Iraqi foreign advantage by also
Article V, Rule 6 h and life returned to the National Oil Company increased responsibilities and given a major and significant and important role in the next stage

Article IX
Licensing and activity and the widening scope of the transportation and storage of this article included some of the positive aspects of the national and economic goals, but are general and vague and refers questions here, for example, is how to achieve maximum returns, according to a national mandate and the potential returns for investment Is it from the standpoint of the Iraqi foreign Awalmstzmer must therefore The law shall specify that
Then there is a reasonable set of incentives such incentives and Mamdi reasonableness?

Article 11 of Law paragraph refers to the distribution of income and the law for Imese between revenues and imports are confused and clear in this matter.

Oil blessing or a curse?
The oil commodity viable economic depletion This leaves the generations need to take advantage of this article and based on these facts it has become an important factor controlling the oil in the destiny of Iraq and the importance of oil for other States, the source of oil is important to the economies of developed countries have sought through tools can be control of the oil wells and this leads to developing countries for strategic development in order to maintain this wealth and proper planning at the Long
This reading of some of the economic aspects of the law and contents through shed some strengths and weaknesses and focusing on the articles of this law and emphasized with peace and safety procedures.

Article 33 The placement of all national and foreign companies and licensees to tax legislation and pushed obligations of rent, income tax and others.
Article 34 of this article referred to the rent and stressed the need for a batch of Iraqi companies and foreign companies operating in the fields of exploration and production and Yoaga 5 / 12%, we wonder what justifications based upon the law in this ratio Why 5 / 12%?
Also referred to the possibility of collecting this kind or in cash rents prevailing prices.

Article 35
What gave the right to convert the amounts licenses out of Iraq after payment of taxes and dues
We believe that this paragraph was not accurate and we suggest that the right to transfer conditional on the importance of foreign investment in Iraq.
Articles 36-39 material containing general principles that should be available from the transparency and clarity, the application of the Anti-Corruption Act as well as competition so as to enable the Iraqi side to get the best bids and the need for a review of contracts with all to achieve the maximum benefit for Iraq.

We do not know how it will determine income amounts obtained and rents, as well as signing bonuses and bonuses oil production
The same paragraph to deposit in the Central Bank under the supervision of the Ministry of Finance as well as the distribution of oil revenues in a fair and equitable We believe that this justice is relative, because the Constitution referred to by the percentage increase of 17%

Future Fund
Deposit rate of oil revenue law, I think that the income from this fund if it invests more beneficial it will be eroded by inflation
Article 12 enhanced version national participation and the likelihood of its being a clear corporate governance by 50% with the activation of the role of the private sector, including the right to the exploration, extraction and production with the best in the oil sector and this was confirmed by Article 15
Article 23
The importance of gas as an important oil and the need to use it to generate additional revenue and improve utilization at the process of oil production and industrial uses, domestic and export, and reduce the environmental impacts of oil and gas and this paragraph confirmed by the Constitution, according to the (ISO) what remained of modernization.

The negative aspects
After speaking summary of some negative points in the law, for instance.
1-Article 5 T. First, in the formation of the Federal Council for Oil and Gas would have to take into account the composition of the Iraqi people and if Mawalimuna that the Council comprising ministers and Khbraimethelon people why this consecration if Mawalimuna that this issue needs to competence
2 - I think that the use of the Federal Council to provide advice represents a surplus creates an atmosphere of conflict and the proposal to increase the number of experts from the Iraqis and using cash when necessary
3-there is overlap between the work of the Federal Council and the Ministry of Oil and overlap may generate confusion
4-need countless permits oil ministry, and not to grant such power to regional bodies only after configured to ensure that no harm national wealth with the need to amend Article 10 II, which requires that the two-thirds majority of members present and this paragraph requires the amendment and unwarranted importance Qararatikhv and this needs to the decisions of the Council thirds majority of the whole number, or present them not only not turn out to be a means of granting licenses to foreign parties, guided by the advice of experts.

The last remark referred to Article 41 that conflict resolution procedures and conditions of the contracts through negotiations in good faith and we wonder how they can achieve this goodwill is determined At the conclusion of the symposium, which was attended by scores of academics, professors and owners of jurisdiction has been answering questions and queries were invited stakeholders and the decision to study

The draft law to satisfy specialty and experts which would preserve Iraq's wealth and for future generations of their rights and ensure their future and raise Participants telegram to the House followed Professor Khalil Amin Qasim for the presentation of the draft law on experts and professionals to listen to the views and suggestions ...

Economists often speak and listen to politicians but to Aikterton to Maycolon.
The economy is not all Shia, but anything without the economy is worth nothing hope that the law and not subject to political headaches and the committee that developed the draft must be to Atersh under any external influence with the need to resolve all issues that occur after approval
And the need to discuss the law through conferences and saw him Cadres and the hard work to avoid administrative and financial corruption.

raise inflation and healthy xchange of dinar

Salaries ... ...World Bank ... ارConstitution

اشميYusuf Hashim Al Hashimi

.One of Aiaatard towards economic reform; Everybody looks to raise inflation and healthy exchange and retrieval of the dinar. ي .The World Bank's established policy and the conditions to achieve that; We do not want to autopsy; including raising government support.
لها .Within data lifting support for fuels and the ration card raise support for the salaries of retirees without reference to it.
.Our review determined to raise support for the salaries of retirees; We believe that afflicts harm and injustice are the victim.
:-Salaries of retirees is not supported by the State : -
دعما.Sincerely-deductible employee ownership of a portion of his salary ranging between 7% to 10% within the retirement fund; and paid him a similar constituency for a fund to secure the payment of a pension; if the retirement fund is a private property and the Constitution of Egis seized by Article (23); the Fund has been canceled in 1977 and deduction amounts pension interference with the budget and with the disposal expenses, violation of the constitution; amounts payable to the Fund and retrieval indication that the owners of these pensions is not in support of the state, there is no bore retired reality is otherwise.

.Service laws and landlords Nos. 24 and 25 / 960 force, in addition to the retirement law No. 33 / 966; adopted these laws for the solution of the dispute ownership Pghannounam in Article (35), and the Constitution of Egis discrimination; as being effective; staff-wise deserved according to a law landlords According to the testimony, length of service and up to the end of entitlement; and an end to the testimony Albeclaurios maturing first class (a) in 27 years; reduced instructions career ladder for the 2004 orders in the April 30, 2004; entitlement end of the third degree brief end 10 years of service; This is constitutionally impermissible, in addition to an exception based on the instructions themselves and the confirmation of the violations.

.Retirement Law No. 27 / 2006 in the latest reading is Upon validation has been installed Article 19 / him of Retired veterans at the legal materials for Egis Constitution insurmountable; materials which exist Law 33 / 966; and guaranteed by law March 27 2006 PROCEDURE (20, 21 and 24) and the acquisition of which is the salary of retired class peremptory, It may not be waived waiver is null and Aiaatad him, and that's retirement salary Atttaghadem with his life.

)In the light of this set of Retired veterans within Article 19 / read (pension is calculated according to the laws in force before the entry into force of the law if he retires before that, (the meaning of retired veterans)
is achieved for the adoption of retired veterans last salary at retirement job which is legal; contrast to the continued service pay pension is calculated according to Article 29 / him and the adoption of 80% of salary according to the instructions of others, which reduced the legal entitlement to 40% certificate Albeclaurios this reduction depends pay remuneration, in addition to further reduction as amendments and the loss ratio approximate 22% of this reduction is not achieved age, which was unfair and Gerdstori

.The endeavor of the Ministry of Finance and retirement in July 2006, amending Article 29 / and the words [defendants to retire before and after the entry into force of the law; for the abolition of Article 19] has written many retirees as this runs counter to the constitution.

.And now in the amendment repealed Article April 19 and may be due to the constitutional abolition; amendments have abolished Article (7) A replacement is not considered screamed Law 33 / 966 and alienating himself, the adoption of the 2% who has not attained 55 years, This means that the enjoyment of 95% of retirees by 2.5%, and this injustice beyond prejudice, in addition to override the law December 27 2006 many of the winnings Law 33 / 966; and the reasons for the lack says the erosion of human retirees and restitution.

.Salary according to laws career service personnel deserve and instructions April 30, 2004 must be canceled, and it is something we would like to note, Bremer handed fair and just; and Article (107) and the adoption of the neutral evaluation of a service salaries and examine the balance between revenues and Iraq and inflation into account Article (30) Constitutional citizen to live in dignity and non-discrimination.

دنيHashim Yusuf Hashemi-active human rights and civil society

http://64.233.179.104/translate_c?h...asp%3FID%3D5131

Published: 21/05/2007 12:00 AM (UAE)
Saudi Arabia to release new banknotes today
By Mariam Al Hakeem, Correspondent

Riyadh: The Saudi Arabian Monetary Agency (Sama), the Kingdom's central bank, will today start releasing a new series of the Saudi riyal.
The new banknotes will be released gradually according to a timetable, Sama said, adding that the 100 and 50 riyal bills will be available at Sama branches effective today. The 10 and five riyal bills will follow at the beginning of July, then the 500 riyal note will be released in September. Finally the one riyal bill will complete the series in December, the agency said.
Sama governor Hamad Al Sayyari said the new series will have the latest security standards.
The 500 riyal bill will feature the pictures of the holy Kaaba in Makkah and that of the late King Abdul Aziz, the founder of Saudi Arabia. The blue-coloured bill will have a view of the Holy Mosque in Makkah at the back.
All other denominations, the - 100, 50, 10 and five - will feature King Abdullah bin Abdul Aziz. The red-coloured 100 riyal note will also bear the picture of the green tomb of the Prophet's (PBUH) mosque and at the back a view of the Prophet's (PBUH) mosque in Madinah. The back of the 50 riyal bill will have a view of the Al Aqsa Mosque in Jerusalem.
Besides featuring King Abdullah bin Abdul Aziz, the 10 riyal note features King Abdul Aziz Palace in Riyadh and at the back it bears part of the King Abdul Aziz historical centre in the Saudi capital.
The five riyal banknotes will have a view of Ras Tanura oil refinery at the face of the paper and at the back it will feature Jubial port in the eastern province.
Besides featuring King Abdullah, the one riyal note will show the face of the first Islamic dinar and at the back a view of the Sama building.