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

Benefit : You can disregard the size of the problems the new oil law

(صوت العراق) - 20-05-2007

(Voice of Iraq) - 20-05-2007

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Deputy Prime Minister : must not remain a prisoner of the Iraq polarizations

Dead Sea : Mohamed Aldamh
Iraq's Vice President Barham Saleh, that the negotiations on the Law of oil will resume in the coming days after the «completed basic framework him despite debates and competitions caused this law». This came after confirmation source in the coalition of Kurdistan, Massoud Barzani, the head of Kurdistan region will Baghdad soon to settle differences with Baghdad on this bill.
Saleh said «We must not underestimate the magnitude of the problems existing law right, there are some known complications». He continued, «addition to this project there are some supplements need to conventions and the most important financial management, and we are in the process of completion of these negotiations, because we need economic and political achievements could be leaving the fate of this country and walking competitions caused polarization».

And between Saleh, who was speaking to reporters on the sidelines of the World Economic Forum, that the law «stresses on the ownership of oil for the Iraqi people and the need for equitable distribution to all Iraqis, and this in itself accomplish important political, economic and strengthen national unity and pave the way for national economy supportive of the democratic political system in Iraq». He added that the oil policy will be according to law, approved by the House of Representatives through the federal body representing the Ministry of Oil and the National Oil Company and territories.

His «must recognize the principle is important in Iraq .. Can not rule Iraq or foundation for a political system away from the national consensus between components, and we are in the process of this agreement ».

Middle East

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

Originally Posted by PAn8tv

Iraq : 267 billion dinars to compensate Progress Kirkuk
(Voice of Iraq) - 18-05-2007 | Sotaliraq.com - ÕæÊ ÇáÚÑÇÞ

Irbil (May 18) and the agency (Lucky) Italian News-According to Kurdish sources, the Iraqi government allocated a substantial budget this year of 267 billion dinars, to compensate Kurdish and Turkoman families displaced from Kirkuk under a policy of "ethnic cleansing" exerted by the Saddam regime. Iman said Jalal Eddin, Financial Adviser to the Supreme Committee of rule 140, in a statement to the newspaper (Cordstani Noi) Kurdish today that the "Iraqi Prime Minister expressed his approval for the allocation of the budget among other expenditures in next year's budget 2008 for the same purpose." The allocation of this amount comes in the context of the application of Article 140 of the Constitution relating to the normalization of the situation in Kirkuk, while not yet decided Baghdad government special budget to compensate Arabs coming to the city. Although responsible Kurdish did not address the issue of compensation Arabs, but noted that "the payment of compensation to evacuees and arrivals are normally not encountered any obstacles." His friend pointed Kachrch head of the Office of Article 140 in Kirkuk that "there are many circles chauvinism stand against the implementation of article without owns a substitute for how to re flouted rights of owners." He said "we note these days chauvinistic attitudes of certain parties, which calls for normalization of the situation Kirkuk without holding a referendum on the fate, and this is inconsistent with the Constitution." A friend, "there 100 subcommittee distributed to the preservation process started distributing forms for financial compensation, which completed its work without any problems, and is expected to complete its work of the commissions soon."

I forget what was this years budget in dinars announced back in jan or feb?
Wasn't way below 267 billion dinar for the whole country??? This article is bad news ...is it not?? Im confused?

Oil in a week-stealing Iraqi oil ... Explanations and possibilities

(صوت العراق) - 20-05-2007

(Voice of Iraq) - 20-05-2007

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Walid Khadduri life-20 / 05 / 07 / /

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?

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

Originally Posted by Hkp

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.

More like a Dollar a barrel should be used. But when figuring it from a calculation of $50 a barrel, to me, they are looking at the Big Picture of what they would be earning, from a Revalued Currency with a Barrel of Oil at $50

Iraq market for securities .. Concept and jobs





لصائغManaf Reza diamantaire
.Iraq established market for securities in 2003 to be issued shares and bonds, which will govern this market a set of regulations and rules that govern and regulate the circulation and implemented by the sale and purchase orders through intermediaries who have the credentials of clients where prices will be floated in a public meeting in circulation and interact laws opportunities and demand in identifying trends in stock prices upwards or downwards.





.The most important function is characterized by the market maintained the balance between savings and investments of economic sectors through conversion (ie money) of the sectors where financial surplus to sectors facing a shortfall of funds needed to finance investment spending. The market also contribute by providing financial liquidity by attracting capital, which activates Development investments necessary for the process of economic development as the market is characterized by the function of risk transfer, where ownership of the shares will be issued to a group of investors get as much profit as percentage of participation in the capital for the other side, we find that the market is converting to wait as the investor can convert the investments financial him to criticism when needed. from the foregoing, we find that the Iraq market for securities transfer funds between different sectors in addition to providing financial liquidity for investors to enter into new investments and this reinforces the result of economic development and investment offers the opportunity to select the best investment for investors of preference among diversified investments traded in the market or the new investments that will be set up through subscription shares those investments and provide the appropriate place or area for the circulation of those shares through the trading hall where transmission investments between investors through intermediaries Commissioners sales operations and procurement controls, according to the instructions so as to enhance market transparency through the reports, statements and the disclosure by companies of financial operations, productivity and show the possibility of an evolutionary company financial position so as to enhance the credibility of the real value of the share price through the Exchange Fund. The period from 2003 until now over the Iraq market for securities different periods of high demand for circulating shares where the period for 2004 and 2005 for the market represents the height of its activity, in terms of quantities traded, as well as stock prices reached their highest levels in the market indices in place, and what Everybody knows that this period was characterized by fairly low level of terrorist acts and that the pace of such acts has been limited in addition to establishing a good number of new companies are also financial institutions entered in companies with global financial institutions, which enhanced investor confidence that corporate Valley increased demand for shares traded in the market and consequently led to a rise in those shares in addition to the management of the market for securities Iraq was working seriously and continuing to develop the performance of the financial market through holding international conventions with other markets that the regional or global, as well as developing the performance of workers in the market through developmental courses and also develop new ways of dealing in the market through the introduction of the transaction or transactions using electronic paintings as the electronic trading system depends on controlling illegal circulation allowed through software and continuous flow of information on all of the stock exchange transactions also This facilitates the follow-up of all traded securities, thereby facilitating the task of applying the laws and regulations of the market. The Stock Exchange of Securities Iraq has a clearly distinct role to play in monetary policy, as it has played a safety valve and the true indicator of the level of cash in the country when Ttofrciolah high on investors result of the financial returns of the investments we are through the stock exchange to strengthen its investment in shares traded companies as well as in need of investors to enter into new investments that will be converting those shares into cash to bring real investments add later financial returns for the new economy, which enhances the chances of economic growth. .Thus we see that the market management was able to enhance the confidence of investors through outstanding performance transparency and clarity in the application of the law as well as through continuing quest to develop the standard of performance based on the latest techniques in addition to enhancing experiences through networking with international bourses. It is also important roles of the Stock Exchange is that it is a mirror reflects the true level of economic activity, through orientations investors to different sectors in the economy, which indicates a certain period of time in the actual performance of these sectors and reflections on the physical level of returns in the community so as to enhance growth opportunities for various sectors. from the foregoing, we find that the exchange in various countries of the world are yardstick the level of economic performance of the country in addition to signaling levels of growth in those sectors and also considered an indicator of trends in cash to investors through investment opportunities available in the market so as to enhance the flow of investments to develop sectors with high economic growth, as well as enhance corporate performance towards maximizing resources, which creates high returns and enhance the profitability of companies, financial institutions and reactivate the banking sector. The role played by the Iraq market for securities in diversifying investment opportunities and stimulate companies to devote Ttaiwierradaiha addition to the confidence of investors in the market, built on the principles of transparency, disclosure and openness on the stock market, regional and global levels is the best proof of the success of that market to its functions in spite of the difficult security situation in the country that is in addition to the ability of management to the market to create development requirements.
* * Iraqi Center for Economic Reform

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

Originally Posted by dinartank

I forget what was this years budget in dinars announced back in jan or feb?
Wasn't way below 267 billion dinar for the whole country??? This article is bad news ...is it not?? Im confused?

But it depends on what Maliki has in mind on the compensation. This is only my thought here.

Lets say he has alocated this 267 billion dinars at Todays Value. It clearly states that it is figured into Next Years Buget as well. Hummm, this Years budget is at 42 billlion dinars.

A Revalued Currency over $1 would clearly take care of this and stay with in a Budget for the following year that is figured from the Newer rate.

So I would say that it is Greatly a Possibillity of Good News. Why? They make the Deals Now with the value of today and lock it in, then after a rate Change, it is Paid off much Quicker.

an open letter to the chairman and members of the House of Representatives





لمقترحThe specifics of Iraqi oil and its impact on the proposed law
شفيقTariq Shafiq
:The specifics of the Iraqi oil :
.The specifics of the Iraqi oil is provided by the current and future cost and the lack of discovery and development and extraction. Ekdralahtiati firm limits 115 billion barrels, divided among about eighty villages located between product developers and semi-developers and developers, and between the cost of a small development of large and high-cost low. .The reserve is estimated future Limits 215 billion barrels.




برميل.It traced the total estimated 330 billion barrels. , دونما.Here it must be noted that the development firm could reserve capacity gradually from the current level of (2) million barrels per day to energy production rate (10) million barrels per day and sustain that rate for more than ten years, and then continue production for another ten years after the start declining gradually, without the need to explore new barrels from the reserve and a future. .To be sure, today, Russia produces about 9.5 million barrels a day at a time where an estimated reserve Limits 74 billion barrels. That historic discovery commissioned for Iraqi oil is less than one cent per barrel, due to the high percentage of successful discoveries, , which represents the seven wells any exploration success in the discovery of oil out of every ten wells. This means that the risks of costly discovery virtually non-existent. أما .The cost of development is about 2 - 1 dollar per barrel, and for years to come, while selling prices were about 60 dollars per barrel. Therefore, if we assume that lower prices to a lower level is 40 dollars per barrel in the coming years, the net profit will be encouraging direct investment.
.Therefore Maigal magnitude of the need for funding is excessive. .This does not mean that Needless to bring in international companies, as the door would remain open for services evaporated companies to use advanced techniques through service contracts for the purpose of building the infrastructure and increase the productive capacity of the fields currently producing discovered fields and develop future-developed, in collaboration with direct investment by the Iraqi National Oil Company.
إن.One of the most important petroleum industry in the privacy and abroad that affect us positively or negatively is multiple sources of production, both producers of the Middle East or the others were under the umbrella of Petroleum Exporting Countries or from outside. The increased consumption of the global market by one million barrels annually for many years in the not too distant past, today increased to the extent of 1.25 million barrels per day annually. على.Since OPEC quota of the world market to 40% of any Aitadi about 0.5 million barrels per day of the increase mentioned, therefore, expected to share space Iraq in the oil market will be counted only for a limited share of the OPEC quota. أو .This confirms our conclusion that the above reserve firm enough to secure production for decades to come without the need for the use of contracts prospecting by international companies, both in the present time or for many years to come.
إن .The oil assigned task for investors, but not the same degree of consumers. .As you know, oil prices linked to each other and differ slightly for any consumer, according to the near or far from production centers, according to the quality of oil required. كما .As that confidence factor and stability Ammermahm too high for consumers wishing to be assured durability source over the years, and because refineries consumption built on the basis of the properties of oil buyer and the conformity of the products needed for the domestic market. .Add to that compete with producers and production systems disparity between producer and other direct production companies using global models prevailing contractual relations and its impact on the political and social thinking in the producing country.
والغازA draft bill of oil and gas
العراقي.We all know that the draft law Alakhirgaet outcome of debate in the ministerial committee, especially between representatives of the government of Kurdistan and the federal government, which lasted more than eight months because of principled positions radically divergent in interpreting the Constitution, which control the development of oil and gas. That interpretation of the government of Kurdistan, The location of a government closer to the Confederation and autonomy for a period of a decade and a half, is that the oil and gas in Kurdistan Homlk of the Kurdish people, while taking the first draft of the law (after investigating a neutral legal interpretation which applies, the prevailing interpretation) the principle that oil and gas is the property of the Iraqi people. والمحافظات.To underscore paragraph was added : in all regions and provinces. .To settle differences causes, it seems, he went Cess Act according to the principle of sharing adjustments made to the draft law which was first me and my brothers Thamer Ghadban, and Farouk denominator honor in preparation. .As expected adjustments of quotas among the parties concerned, were not successful outcome from the perspective of the public interest of the Iraqi people as a whole. Sabine later.
إن .These adjustments came as concessions by the government of Kurdistan on their constitutional rights as interpreted in the oil Kurdistan, which, as explained above, based on the grounds that the oil and gas in Kurdistan belongs to the Kurdish people. إن .The first draft was built on the basis of the optimal management for the development of the petroleum industry, so as to ensure maximum benefits and imports of the Iraqi people, which says not a principle of cooperation and consultation between the federal government and provincial and district only, but also to participate in the planning, making and implementation phases in the exploration and development of discovered fields and infrastructure. .The fact that the draft that had been written by us as professionals Iraqis - damaged, not diverted to any margin negotiated, therefore, produced above adjustments disorganization optimize and maximize the returns to the people whole. .Those adjustments have changed course and how to take things in the resolution such as the adoption of basic rights for oil exploration, development and strategic policy and plans and platforms for action. .They also failed to secure a oil policy or planning alternative efficiently meet the requirements of the Constitution, which requires management and policy Alastratsign to achieve maximum benefits and imports of all people, beginning with the Iraqi territories. It ended detail and clarification will put "Comments on the draft law ..
1.1. .Beginning : The amendments came proceeds of shares, as demonstrated by the nature of policies and tracks, past and present it serves parties Natasseh first, and often at the expense of the public interest.
2.2. 112 مر.These amendments violated and undermined the basic principle that brought him the first draft of the law, namely the commitment to the principle of unity of strategic policy and management by the federal government in cooperation and consultation with the regions and provinces so as to ensure maximum benefits and income for the whole people, according to the requirements of article 112 of the Constitution. .Note that the first draft referred to went further cooperation and consultation, but to participate in the making and implementation.
3.3. .Some modifications codified language susceptible to more than one interpretation, and given decision-making powers of the Parties country track outside Central, in which all the parties concerned to cooperate or participate with the federal government, affects and weakens the principle of a unified central decisions, and the application of uniform policies and standardized curricula, in a manner characterized by balance guarantor of efficiency and transparency.
4.4. لا بد .It must be considered to be the powers granted under the recent draft law on the territory of Kurdistan, it will grow horizontally spread to other provinces and regions, and vertically through the creation of multiple workshops held decision-making process and following up the implementation, as it was not compatible with the human potential and modern institutions lacking the necessary experience in the petroleum industry. .This Sievers vulnerable in efficiency, accountability and transparency, let alone compete undisciplined and thus weaken the unity of the people and land.
5.5. إن بعض.Some resolutions critical example of the appointment of "operator" and approve plans to develop the discovered fields in the future of the Kurdistan regional inflicts has been entrusted, after the tasks of the Ministry of Oil and Adoption Center, despite recent experience of the Kurdistan region and the lack of regional and provincial which will do the same in the future, bearing in mind that the "operator" is responsible for the development and operation of the field Finder and sustain, which is not necessarily the same contracting company, at the time of eligibility mandated by recent federal institutions Center, and not to the province.
6.6. إن.The initial approval for the rehabilitation of the companies bidding to enter exploration and Alttaiwierkd assigned territory, after the jurisdiction of the Ministry of Oil. .The contracting and conditions contained in the contract negotiation Vmukul Model whereby the province, and then sent to the federal Center for approval or rejection. .This may be rejected because the ineligibility of the company originally contracted. إن .That is such an example of the overlapping jurisdictions. .In this case may expose the government to compensate the company and other inconveniences are indispensable.
7.7. .The course is the final decision and given specific in the first draft to the federal base its decisions on the advice of the elders and decide on the draft contracts human exploration and development of a competent body bids. إن .The addition of the Territory of course take the decision and not the requirement that all submissions to the Federal Council on independent advisers before deciding which, in addition to other negative Touching has breached accountability and responsibility balanced and transparency required.
8.8. إن جديدة.Requiring the Ministry of Oil Prospecting division of land to 65 units and the immediate implementation of granting human exploration and development of international companies is unprecedented in the oil industry. and because of the huge oil reserves should be developed first, and then rely on the systematic exploration and studied carefully and quantity required when draining the discovered fields to the extent that require discoveries add new fields. .For the premise of the need to compensate Masintj annually at the rate of three million barrels per day, for example, I mean, the need to use the tower drilling one exploration and one in the field within one year (this is confirmed within the possibilities of the date of the previous exploration), this is offset by the reserve, which produced one billion barrels in the year, as the rate of the terms oilfiled one in Iraq over one billion barrels. . Hence realize that the 65 units drill-down immediately for exploration contracts as stated in the draft law alleging need something to compensate for what retrieved annually argument seems flimsy and dangerous same time.
إن.!!That commitment contracts exploration and development of long-term, quantitative decision during a security crisis with severe acute political differences and foreign pressures is a matter devoid of wisdom and reason to confirm the view that the occupation of Iraq and toppling of the former regime that came only in the interests of Iraq's oil wealth.! مع!!Additionally, it is discovered must be developed without delay in order to recover the money invested, and oil will compete with the National Oil Company oil! .Perhaps the size that was not consistent with the commitments of Iraq towards OPEC and at the expense of lower prices. ومن ناحية.On the other hand, long-term whenever depleted national oil increased Nfot foreign companies increased the state's reliance on imports from foreign firms, with all the attendant adverse consequences of the most important growing foreign influence and diminish the independence of the state economy.
9.9. ان .The principle of curriculum development exploration and development on a geographical basis would mean development of small fields with costly at the expense of economic development and more lucrative, wide Iraq wider, comprehensive view of the unified development that takes large fields of the Wolf low first on the basis of technical and economic feasibility. .It is difficult to justify this approach, especially after it approved the distribution of income on the total provincial and district elections.
10.10. ان لا.That deducting 26 gas fields out of 80 discovered share of the National Oil Company is unconstitutional, if approved parties Natasseh true sense of the constitutional article 112, which called the term "field" on any discovered a geological formation in which oil or gas, regardless of whether the development, production had started it or not.
إن.It is very unfortunate that we can deduce from the above review a draft law that the latter ambiguity and confusion not be successful in its application. من.It did not ensure maximum benefits and returns enshrined in the Constitution, as will become evident from the quick review of how Ktaptna the draft law first and the foundations and principles which we have adopted.

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

Originally Posted by neno

But it depends on what Maliki has in mind on the compensation. This is only my thought here.

Lets say he has alocated this 267 billion dinars at Todays Value. It clearly states that it is figured into Next Years Buget as well. Hummm, this Years budget is at 42 billlion dinars.

A Revalued Currency over $1 would clearly take care of this and stay with in a Budget for the following year that is figured from the Newer rate.

So I would say that it is Greatly a Possibillity of Good News. Why? They make the Deals Now with the value of today and lock it in, then after a rate Change, it is Paid off much Quicker.

I believe the Budget is $42 Billion Dollars.. Or, about 53 Trillion Dinars at the 1260 Rate.

Originally Posted by Bubba Dinar

I believe the Budget is $42 Billion Dollars.. Or, about 53 Trillion Dinars at the 1260 Rate.

To cover it now, if they wanted. the 267 billion dinars values is roughly $2,136,000.00 That is figured at $800 a million in value.

Originally Posted by neno

To cover it now, if they wanted. the 267 billion dinars values is roughly $2,136,000.00 That is figured at $800 a million in value.

267 Billion/53 Trillion Budget = .5% of Budget is nothing 1/2 of 1%. I figure the Politicians will steal 50% of the Budget..