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

U.S.- Iranian talks on Iraq put off for days - spokesman

U.S.-Iranian talks on Iraq, which was scheduled for this Friday, will be postponed for several days upon request by the Iranian side, an official Iraqi government spokesman said.

"The Iranian side on Wednesday demanded a postponement of the talks for a few days citing reasons related to it," Spokesman Ali al-Dabbagh said in an exclusive statement to Aswat al-Iraq, Voices of Iraq, (VOI).

Being the fourth of its kind, the talks are expected to take place next week instead of tomorrow, al-Dabbagh explained, providing no further details regarding the reasons for the delay.

Aswat Aliraq

Baghdad Exhibition and Conference in Al-Rasheed Hotel

Iraqi-America Chamber of Commerce and Industry will be holding Baghdad exhibition and conference (B2B) in Al-Rashid Hotel from 15-17 of February 2008, and it is the first of its kind after the events of April 9; its visitors are expected to reach more than 8000, with the participation of more than 260 governmental and private companies to display their products and services related to the reconstruction of Iraq.

Executive Director of the Chamber, Raad Omarsaid, "Baghdad, the capital of Iraq, with a population of over seven million Iraqis, is in dire need of such an activity; the wings have been fully booked within days after the announcement of the exhibition and many businessmen in Baghdad are anxious to find partners and buyers to expand their commercial activities." This exhibition and conference is supported by the Iraqi government with the participation of ministries, and sponsored by the PRT according to the program "Buy from Iraq First" with the attribution of the American government and large American companies, especially (KBR) which is interested in dealing with more Iraqi firms to attract partners and customers through this exhibition.

In addition, the exhibition will be held simultaneously with the reconstruction conference where 66 lectures will be given concerning the development of Iraqi economy, through the participation of experts, ministers and chiefs of Iraqi companies to discuss various topics starting from how to register your company to how to obtain contracts with "the Common Contracting Command- Iraq," and "the Engineers Corps" and "the Gulf Region Reconstruction Group."

Director of the Economic Development Department in the Ministry of Industry, Mr. Afeef Al-Rayis, said, "Iraqi economy must be founded on the cooperation between the private and public sectors, and (B2B) provides the ideal place for such cooperation."

Many representatives of the companies participating in the exhibition expressed their hope that it will be a good start for the Iraqi economy, since it will bring together large numbers of Iraqi companies with foreign ones to conclude commercial transactions and exchange experiences; besides, the importance of this exhibition comes from being held in Baghdad, the capital of Iraq, after five years of suspension, according to some Iraqi participants.

Baghdad Exhibition and Conference in Al-Rasheed Hotel

Adopting Iraq as a major source of natural gas

Iraqi and Europeans officials agreed to continue seeking closer links between them in the area of energy, to turn Iraq into a main gas supplier to Europe and reduce the dependence of EU countries on Russia.

Benita Ferrero Walder, External Relations Commissioner of the European Union in Brussels, said last Thursday that 27 European countries are looking forward to see Iraq part of the "Arabian East pipeline" project which extends from Egypt to Jordan, near the Syrian border.

According to the Associated Press Agency, this mega project, which is still under construction, include the transfer of natural gas via a pipeline from Syria to Turkey where Europeans who wish to benefit from its services can get their supply of gas from Egypt and other countries that the pipeline passes through.

Ferrero Walder, who is an Austrian diplomat, said at a press conference along with Oil Minister, Hussein Al-Shahrastani, "Iraq is a main country in the project, not only in production but also in the transport of oil and gas, and this is of concern to Europeans who wish to develop relations to the satisfaction of the interests of both sides, and that there are great opportunities to achieve this goal." She stressed that the agreement reached between Iraq and the European Union today is part of a broader agreement for the exchange of trade and the signing of more bilateral cooperation agreements.

Al-Shahrastani pointed out that this is the right time for the development of relationships between Iraq and the European Union in the field of energy and trade, stressing his country's commitment to providing Europe with all its needs of oil and gas within the coming two or three years. He also confirmed that the Iraqi government is moving ahead in its plans to exploit new oil fields and develop Ukas field near the Syrian border to transport gas from there to Europe via the "Arabian East pipeline."

Al-Shahrastani added that his ministry is currently studying the draft contracts with foreign companies to develop oil fields in 2008, and that this is not dependent on the problems in ratification of the new oil law

European officials said that this giant line for transporting natural gas can later be linked to the lines transporting gas to Europe and then to the American lines Nabco carrying gas from the Middle East and the countries bordering the Caspian Sea, except Russia, through Turkey to European States.

Adopting Iraq as a major source of natural gas

Iraq grants 17% share of budget toKurdistan

Iraqi Parliament passed three key laws namely 2008 budget law, provincial powers law and amnesty law. Iraqi Parliament approved as well to grant Kurdistan 17% allocations of the budget while 2009 budget would be reconsidered after the government conducts residential census.

As for the law of non-affiliated provinces, it grants Iraqi provinces wider authorities and allows them to benefit from allocations therein for development and reconstruction. After amending amnesty law in Parliament, it allows to release a larger number of detainees in exception for convicted charged for murder and mass killings. Amnesty law does not include cases of administrative and financial corruption as well as the public right and terrorism.

Iraq grants 17% share of budget to Kurdistan | Iraq News | Alsumaria Iraqi Satellite TV Network

Iraq Imposing Law Operation starts 2nd year

Imposing Law Operation enters its second year. Joint security forces from the Police and Army have participated in the operation after violent attacks mounted up in Baghdad and other Districts.

A year after the launching of Baghdad security plan, some of Iraqi regions have become much safer.

Iraq Imposing Law Operation starts 2nd year | Iraq News | Alsumaria Iraqi Satellite TV Network

Iraq pumps 480 bpd to Ceyhan Turkish port thru northern pipelines

A naval source affirmed that Iraq pumps Kirkuk crude oil thru northern pipelines towards Turkey with an average of 480 thousand barrels per day. Pumping is carried on steadily since more than a week. The same source pointed out that oil quantities that arrive to storing reservoirs in Ceyhan Turkish port reach about 900 thousand barrels per day.

Iraq pumps 480 bpd to Ceyhan Turkish port thru northern pipelines | Economics News | Alsumaria Iraqi Satellite TV Network

OPEC to view many considerations before deciding about oil production

OPEC President Shakib Khalil said that OPEC’s meeting next month will take into consideration the increase of US crude stocks and the impact of potential US stagnation on demand before taking any decision regarding production.

On the other hand, Khalil noted that any step to stop dealing with the dollar as oil currency requires a meeting for Financial Ministers of OPEC permanent countries.

OPEC to view many considerations before deciding about oil production | Economics News | Alsumaria Iraqi Satellite TV Network

Exxon, Shell: Iraq oil law needed for deal

Iraq's legal framework is still uncertain, Big Oil firms say, though negotiations on oil and gas deals are ongoing and could wrap up by next month.

"Shell along with other major international oil companies are quite interested in future possibilities in the country of Iraq," Shell Gas and Power Executive Director Linda Cook said Wednesday at an international energy conference in Houston.

Iraq has the world's third-largest reserves of oil and sizeable gas reserves but is largely undeveloped and underexplored. Shell, ExxonMobil, BP and Chevron are in discussions with Iraq's Oil Ministry for special technical support contracts, a first step in Iraq's long-awaited development of its energy sector.

It doesn't have a modern oil law, however, relying on Saddam-era guidelines and, loosely, the framework of a draft but highly contentious new oil law.

"We have stated that we are interested in pursuing those when the conditions are right," Cook said, "conditions meaning safety and security of our own staff plus making sure that we're doing it in accordance with the laws that would be enacted by the country including the new oil law which has yet to be put through final legislative approval."

The technical support contracts would direct expertise, training and equipment from the firms to specific fields from which Iraq wants to boost production. These would be short term, about two years. Bidding rounds for more fields are expected later this year and next.

Shell is in talks for the Kirkuk field in Iraq's north as well as fields in southern Missan province. It's also interested in developing the Akkas gas field near the Syrian border and associated gas in the south.

The ministry has been discussing phases one of West Qurna with Chevron, North and South Rumaila with BP and Zubair with ExxonMobil, according to numerous sources who talked to United Press International. The final fields and companies will likely not be finalized until deals are announced.

"My guess is every international oil company in the world, knowing Iraq is blessed with terrific god-given natural resources, is interested in Iraq," ExxonMobil Corporate Vice President Daniel Nelson said at CERAWeek, the world's largest annual energy conference. "I'm not giving any competitive secrets away there."

"There's an element of physical security that relates, that's so obvious it doesn't really bear discussion at great length," Nelson said. "More important is you have confidence you have a system of laws and a system of fiscal stability that's going to be together for not only the 6,7,8,9 years that it takes from the time you start up working in a venture to the time you have significant production and through that 30-year period you really need to get the returns back."

Exxon, Shell: Iraq oil law needed for deal - UPI.com

IMF Stand-by Arrangement
Iraq Makes Progress on Economic Front

IMF Survey: Iraq Makes Progress on Economic Front

Total says plans to register interest in Iraq

French oil major Total plans to register its interest in helping to rebuild Iraq's shattered oil industry, although it has said it is too dangerous for now to operate there.

Foreign oil companies have until Monday to register to bid for contracts. Negotiations between Iraq's central government and oil companies should get under way between July and September. "We will say that we are interested but I don't know whether we have sent the letter yet," a spokeswoman for Total said.

"It's about taking part and discussing ... and things will not actually happen before six months. So it's better to be on the lists to see who they will chose and then you don't have to take part in everything."

On Wednesday during Total's annual results conference, the company's Chief Executive Officer Christophe de Margerie said Iraq was too dangerous for now and relevant legislation was not yet in place there.

"The energy law has not come into effect and the security in the country is not good enough for us to operate there," de Margerie said.

But he added the company was taking part in discussions so it would be ready to take part when the time was right.

Under the regime of Saddam Hussein, Total conducted studies on the Majnoon and Bin Umar oilfields in the south of Iraq, which are two of the country's most prized fields.

Total says plans to register interest in Iraq | Industries | Energy | Reuters&