Thread: Archive Latest News - Think Tank - 01/01/08 - 14/04/08

Iraqi Minister Hails Oil, Gas Law
The Iraqi oil minister says the country's new oil and gas law aims to enhance solidarity among people and create a mutual understanding on the Constitutions' articles pertaining to the oil and gas industry.

Speaking to Alalam Thursday, Hussein al-Shahristani said: "It is people's rights to have their say on the fate of their whopping national oil resources."

"The Cabinet unanimously approved the proposal on the new law in 2007 and it was sent to the parliament afterwards," he said.

The Iraqi oil minister further said the law aims to pool the views over the Constitutions' articles on oil and gas and to make the ministry and other governmental organizations committed to implementation of the industry laws and regulations.

Al-Shahristani said: "The government investigated the oil law over one year and almost all Iraqi groups, including al-Sadr movement, the Accord Front, Iraqi List, Kurdish Coalition, United Iraqi Alliance, took part in the meeting and finally approved the law unanimously.

"The differences at the time were only due to different political stances, which resulted in the Kurdish officials' hasty decisions in negotiating with foreign companies which, in turn, raised questions over the efficiency of the new oil law in case all Iraqi groups are not committed to the law," the minister said.

He further blamed the groups who walked away from the government and adopted a non-cooperative policy which overshadowed many projects, especially oil production contracts in the country.

Al-Shahristani said: "The oil ministry did not hold an opposing view over the issue at that time and maintained that the country did not need those (foreign) contracts."

"Major oil companies who tended to have a share in Iraq oil industry after Saddam's overthrow, were informed of the issue. The government deemed this as a great achievement," the Iraqi official added.

Al-Shahristani also said that Iraq is now undergoing big changes in political, economic, cultural and social fields and "the government's policies should be accordingly scientific and measured, otherwise, the country's only source of income and the symbol of solidarity and unity can be a source of differences and clash among the Iraqi people."

He further pointed to reconstruction efforts in the oil sector, saying, "the oil industry is facing a lot of domestic, regional, and international problems, among them insecurities within the country, illegal oil contracts, and the political parties which have suffered losses due to the government's strict laws for preventing oil smuggling."

Alalam News

Update......

Chevron, Total seek oil deal in Iraq

Oil giants Chevron Corp. and Total have confirmed that they are in discussions with the Iraqi Oil Ministry to increase production in an important oil field in southern Iraq.

The discussions are aimed at finalizing a two-year deal, or technical support agreement, to boost production at the West Qurna Stage 1 oil field near Iraq's second-largest city of Basra.

Chevron and Total confirmed their involvement in the discussions in e-mails received Saturday by The Associated Press.

"Chevron is interested in helping the Iraq government's objectives to develop its oil and gas industry," Chevron spokesman Kurt Glaubitz said in an e-mail. Total spokeswoman Lisa Wyler confirmed the French company's involvement.

Basra, about 340 miles southeast of Baghdad, has been the scene of sporadic attacks and clashes since the U.S.-led invasion in 2003. The latest fighting broke out March 25 when the government launched an operation against Shiite militants, who remain in control of several neighborhoods.

West Qurna field, located about 40 miles west of Basra, is among Iraq's 10 "super giant" fields with its reserves estimated between 15 to 21 billion barrels, according to Iraqi Oil Ministry and Energy Information Administration.

The Ministry intends to add 100,000 barrels per day to the field's current capacity of 180,000 bpd. Its estimated pre-2003 production capacity stood at 250,000 bpd, the ministry's figures show.

In 1997, the Russian Lukoil oil giant struck a $3.7 billion deal with former Iraqi leader Saddam Hussein to drill at the West Qurna field. However, Saddam canceled the contract in 2002. The Russians hoped they would be able to revive it when Moscow wrote off most of Iraq's $12.9 billion debt.

The Iraqi Oil Ministry has said it is also negotiating with Royal Dutch Shell PLC, BP PLC, ExxonMobil Corp. to increase crude production in four other fields and under the same agreement.

Iraq has the world's third-largest oil reserves, totaling more than 115 billion barrels. Iraq's average production for February was 2.4 million barrels per day and exports averaged 1.93 million barrels per day.

Chevron, Total seek oil deal in Iraq - AP Wire > World | Bakersfield.com - Kern County news, events, shopping & search

Maliki declares Reshuffle

Reshuffle would be declared soon after Accordance Front approval to return to Government and it would hand over to PM Noori Maliki a list of its candidates to fill its five cabinets a leader at United Alliance said.

These very positive developments came after one day of the PM's meeting with parliament blocs' leaders to review latest events in Basra, Baghdad and other provinces, and another meeting between President Jalal Talabani and his vice Tareq Hashemi to exploit what they described as "Baghdad political spring". MP Sami Asqari added that PM set new list of some candidates. The blocs declared its full support to the new reshuffle, Asqari added.

ÌÑíÏÉ ÇáÕÈÇÍ - Maliki declares reshuffle

Political Agreement to be approved at Parliament

Speaker, Dr. Mahmood Mashhadani, disclosed that next sessions of Parliament would discuss and approve articles of "April 5th" of national security council to activate it as he confirmed that he carries a message to International Parliament Association's Conference that stresses on importance of Iraq's stability and its independence, reject foreign intervention and support political process in the country. Mashhadani added at press statement before his travel to Cape Town that Maliki's Govt., despite the major challenges they face, it achieved till now acceptable results with its limited capabilities, and he confirmed that if political parties were in harmony, the results were better.

ÌÑíÏÉ ÇáÕÈÇÍ - Speaker: political agreement to be approved at Parliament

Arab diplomatic interest in Iraq growing

A top State Department official noted the growth in Arab diplomatic interest in Iraq ahead of a meeting with Iraq's neighbors and the U.S. secretary of state.

U.S. Secretary of State Condoleezza Rice travels to the Middle East April 22 to attended a meeting at the ministerial level with Iraq and its regional neighbors.

Speaking at a recent press briefing, State Department spokesman Sean McCormack noted the April 22 meeting is the third of its kind and suggested officials planned a similar meeting in Syria to discuss Iraqi security issues in the near future.

McCormack noted in response to questioning regarding the apparent lack of diplomatic interest by Arab states that ongoing diplomatic engagement by U.S. and Iraqi officials yielded "greater and greater Iraqi reintegration into the region."

The spokesman said several of Iraq's neighboring states made pledges to either name ambassadors or to reinstate their diplomatic missions in Baghdad.

Bahrain announced in March it would reopen its embassy in Baghdad next month.

Arab diplomatic interest in Iraq growing - Middle East Times

Talabani Stresses Importance of Reinforcing Bilateral Ties between KRG and Iraqi Federal Government

On Sunday the Iraqi President, Jalal Talabani, met with the Kurdistan Regional Government (KRG) Premier, Nichervan Barzani, and his accompanying delegation in Baghdad.

Barzani briefed President Talabani on the outcomes of his preliminary meetings with the Iraqi Premier, Nouri al –Maliki about dealing with the suspended issues between KRG and the Iraqi federal government.

President Talabani stressed the importance of reinforcing bilateral ties between the KRG and the Iraqi federal government, hoping both sides to reach fruitful outcomes to reinforce bilateral cooperation and coordination for the interests and goals of all the Iraqi factions.

The Iraqi political situation, the current challenges and ways of overcoming the obstacles which hinder the Iraqi political process were also discussed during the meeting.

On his part, Barzani appreciated the role of President Talabani in the Iraqi political arena and thanked his warm reception and hospitality.

PUKmedia :: English - Talabani Stresses Importance of Reinforcing Bilateral Ties between KRG and Iraqi Federal Government

Demand for dollar down at daily Auction

Demand for the dollar was down in the Iraqi Central Bank's auction on Sunday, registering at $39.815 million compared to $68.485 million on Thursday.

"The demand hit $21.265 million in cash and $18.550 million in money transfers outside the country, all covered by the bank at a rate of 1,204 Iraqi dinars per dollar, stable for the fourth session in a row," according to the central bank's daily bulletin and received by Aswat al-Iraq - Voices of Iraq - (VOI).

The 11 banks that participated in the auction offered to sell 2.385 million dollars, which the bank bought all at a rate of 1,202 dinars per dollar.

Speaking to VOI, Ali al-Yasseri, a trader, said that the drop in the remittances at today’s session sent down the over all demand for the dollar at the auction.

Banks participating in the auction delayed bids in foreign transfers until tomorrow’s session as they expected the official dollar exchange rate against the dinar be lowered for a tick according to al-Yasseri.

The Iraqi Central Bank runs a daily auction on Sunday through Thursday.

Aswat Aliraq

ISX decreases by %0.216

Iraq's Stock Exchange (ISX) index decreased by 0.216 percent to settle at 36.9 points at the closing of Sunday's session.

Shares of 29 companies were traded during today's session, where 536 million shares were transacted at a value of over 740 million dinars (1 U.S. $ equals 1,222 Iraqi dinars) achieved through the implementation of 177 contracts.

The banking sector achieved the highest circulation in terms of the number of shares traded, as well as in terms of trading volume.

Non-Iraqi investors participated in today's session through the implementation of only one contract in the banking sector. The traded shares reached three millions, valued at 6.600 million dinars.

The statement concluded that 29 companies were traded in Sunday's session out of 94 companies registered in Iraq's stock exchange, of which 4 indexes went up, 9 dropped, and 16 maintained their previous price.

Aswat Aliraq

Kurdish PM talks with Baghdad positive - Spokesman

A Kurdish spokesman on Sunday described as “positive” the on-going negotiations between Kurdistan government chief and Iraqi Prime Minister over oil contracts concluded by the Kurds with international companies to invest in the region and the possible incorporation of the Peshmerga (Local Kurdish Fighters) into the Iraqi army.

“Over two meetings on Saturday, the talks between Kurdistan Premier Negervan Barazani and Iraqi Prime Minister Nouri al-Maliki were good and positive,” Feriyad Rawandozi told Aswat al-Iraq- Voices of Iraq- (VOI).

The spokesman for the Parliamentary Kurdish bloc (Kurdistan Alliance) added “in the first meeting the two sides dealt with the oil contracts concluded by the region government with international companies to invest there, the Oil and Gas draft law, the incorporation of the Peshmerga into the Iraqi army, the implementation of article 140 over Kirkuk and the relation between the central and regional governments.”

Rawandozi said that the second meeting was held behind closed doors.

Baghdad so far has refused to recognize all the contracts signed by the regional government with oil international companies to invest in the region and threatened to ban these companies from future deals with the central oil ministry, while the Kurds advocated that these contracts were “legal” according to the Iraqi Federal Constitution.

Maliki’s government also opposes to pay the 190,000-member-Peshmerga Kurdish forces from the Iraqi Defense Minister budget.

“Teams of experts from both sides will start today a round of talks on these issues,” the Kurdish spokesman explained.

On his part, Kurdistan Premier Barazani , who arrived in Baghdad on Friday, expressed the region government’s support to the moves taken by Prime Minister Maliki to impose the rule of law and combat “outlaws”, according to Rawandozi.

Since the last week of March, Iraqi security forces engaged in fight with what the government termed “gangs of criminals and outlaws” in the southern Iraqi city of Basra where the Shiite cleric Moqtada al-Sadr’s Mahdi militia were active.

Aswat Aliraq

Iraqi Cabinet approves local Election Bill

The Iraqi cabinet approved the local election bill for administrative councils in provinces, suburbs and districts, the official spokesperson for the Iraqi government said on Sunday.

"During Sunday's session, the Iraqi cabinet approved the local election bill for administrative councils in provinces, suburbs, and districts," Dr. Ali al-Dabbagh said in a statement received by Aswat al-Iraq – Voices of Iraq – (VOI).

On March 19, 2008, and after Vice President Adil Abdul-Mahdi withdrew his objection, the Presidential Council enacted the local election law that was passed by the Iraqi Parliament as part of a political deal that consisted of two other laws; the general amnesty law, and the 2008 budget.

Article (54) of the local election law implies that local elections should take place no later than October 1, 2008.

On April 1, 2008, the Iraqi cabinet allocated 100 million U.S. dollars to cover the operations of the Independent Electoral Commission in Iraq, attributed to the 2008 local elections.

Aswat Aliraq