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

Update......

BP and Shell Among 70 Oil Giants Interested in Iraq

More than 70 firms have registered to compete for tenders to help develop Iraq's oil reserves -- seen as vital to providing the funds to rebuild the shattered country -- the country's oil ministry disclosed yesterday.

The war-ravaged country currently produces only a fraction of its vast reserves, the third-largest in the world and among the cheapest to produce.

International oil firms have been positioning for years to gain access to what is now one of the most under-developed and easily accessible oilfields in the world.

Big oil companies such as Royal Dutch Shell, Total, Repsol YPF, ConocoPhillips, BP, and Norway's StatoilHydro are among firms that have said they have registered or intended to do so.

Asim Jihad, the spokesman for Iraq's oil ministry, said yesterday: "We are going to carefully study and check the documentation. Next month we will declare the companies which are permitted to work in the Iraqi oilfields."

Iraq produces about 2.3 million barrels of oil a day, dwarfed by its 115 billion barrels of proven crude oil reserves. Only Saudi Arabia and Iran have larger reserves.

One oil official said last year that Iraq's oil sector could need as much as dollars 75 billion in investment.

Iraq has not said what fields it will tender, or on what terms, but the service and extraction contracts on offer are seen as a stop gap until a crucial oil law is passed.

Violence and political wrangling over the law, which will decide how to share the country's oil wealth among its different regions, has stifled foreign input in the oil sector.

BP and Shell Among 70 Oil Giants Interested in Iraq | Iraq Updates

Iraq extends deal with Petrel for a year

Irish energy explorer Petrel Resources says the Iraqi oil ministry has approved the extension of the technical cooperation agreement with the company for another year.

The company said it expects to embark on a new oil and gas field study as part of this programme.

Petrel, as contractor to the ministry, also reported steady progress on the existing Subba & Luhais engineering, procurement and supervision of construction (EPC) project, where surveys have been conducted and major equipment delivered without security incidents

It said it expects to be invited shortly to discuss Western Desert Block 6, which it has studied since 2000, with the relevant oil ministry officials.

Business World, live news from Ireland, plus Irish archive, lists, companies information

Al-Shahristani Accuses Iran to Exploit an Oil Well

In a press statement to al-Sabah newspaper today, Iraqi Oil Minister Hussein al-Shahristani accused Iran to exploit a joint oil well and prevent the Iraqi technical team from reaching it.

The statement of the minister came after less than 24 hours of accusation of Radio Sawa broadcasting to distort the statement of Mohammed al-Hajj Hamud, Foreign Ministry undersecretary which accused Iran of stealing the Iraqi oil.

Al-Shahristani said that the occupied oil field is Northern Abu Gharb joint field in Missan Province.

Al-Sabah newspaper mentioned that this field is considered as one of the biggest oil production fields in Missan. It is a joint field and was neglected by the ex-regime in the 1980s due to the war with Iran. After 2003, Missan’s Oil Investment Organization tried to resume working on it, but the Iranian border guards prevented the Iraqi technical team from reaching it.

PUKmedia :: English - Al-Shahristani Accuses Iran to Exploit an Oil Well

Ahmadinejad to Visit Kurdistan

PUK’s Kurdistani Nwe newspaper announced today that the Iranian president Mahmoud Ahmadinejad is going to visit Kurdistan Region during his expected to visit Iraq.

The newspaper stated from an official source, without mentioning his name, that “the Iranian president is going to hold meetings with the Kurdistani leaderships.”

PUKmedia :: English - Ahmadinejad to Visit Kurdistan

Executive Council Discusses Iraqi Governments Reshuffling

The Iraqi Executive Council which consists of the Iraqi President, Jalal Talabani and his two deputies ,Tariq al- Hashimi and Adil Abdul Mahdi, the Iraqi PM Nouri al-Maliki , and the Representative of the Kurdistan Region President , Roj Nouri Shaways, held a meeting on Wednesday.

The meeting focused on two main topics, the first agreements with the neighboring countries and the negotiation methods in a way that will serve both sides’ interests.

The second topic focused on the Iraqi government reshuffling and the principles that the government will be based on.

PUKmedia :: English - Executive Council Discusses Iraqi Governments Reshuffling

KAB Emphasizes Need for Reshuffling Iraqi Government on Basis of Political Parties

The Kurdistan Alliance Bloc (KAB) is emphasizing on the need for reshuffling the Iraqi government on the basis of political parties not the parliamentary blocs; the head of KAB, Dr. Fuad Massum has exclusively told PUKmedia on Wednesday.

The reason behind that is political parties are carrying out duties better than political blocs do, he clarified.

The suggestion has been offered to related sides and currently discussions are going on among the parliamentary blocs, he added.

He also indicated that it is possible to form a successful government from the current political parties inside the Iraqi parliament like the two main Kurdish parties PUK and KDP, Supreme Iraqi Islamic Council, Daawa Party, the Islamic Party.

Other parties like the Iraqi Fadhila (virtue) Party and the Iraqi National Accord have expressed their readiness to participate the new Iraqi government, he emphasized.

PUKmedia :: English - KAB Emphasizes Need for Reshuffling Iraqi Government on Basis of Political Parties

President Talabani Discusses Political Developments with Ryan Crocker

Today the Iraqi President, Mr. Jalal Talabani met with the US Ambassador in Iraq, Ryan Crocker in Baghdad to discuss the ongoing political process in Iraq and the challenges it faces.

President Talabani highlighted the meetings of the Iraqi leaders in particular today’s meeting of the Executive Council aiming at paving the way to deal with the suspended issues and succeeding the Iraqi political process.

They both emphasized on intensifying efforts and activating dialogue with active sides to reform the Iraqi government and supporting it with qualified ministers.

The need for accelerating agreement on key legislations, particularly the petroleum draft law, was also discussed during the meeting.

They discussed the need for reinforcing the bilateral relations between Iraq and US.

Finally, the US Ambassador in Iraq appreciated the role of President Talabani in the Iraqi arena to resolve the disputed issues, improving the necessary relations between the political blocs and reinforcing fraternity and group-work among them.

PUKmedia :: English - President Talabani Discusses Political Developments with Ryan Crocker

Sorry if already posted......

MP urges support for agricultural & industrial sectors

A parliamentarian from the Sunni National Dialogue Front (NDF) has called for supporting the Iraqi agricultural and industrial sectors in a way that enables the country to achieve self-sufficiency and reduce its imports to a minimum.

"The amount allocated from the 2008 budget for importing foodstuffs is relatively large compared to that allocated for supporting local agriculture and industry" MP Sheikh al-Jarba said, from the Jordanian capital Amman.

The parliamentarian highlighted the competition between local agricultural products and imported goods, which he said has resulted in a decline in the agricultural sector and the loss of a vital element in Iraq's economy.

He called on the government to help farmers by arranging personal loans for them and support manufacturers by encouraging food processing industries.

The National Dialogue Front, led by Saleh al-Motlaq, holds 28 seats in the 275-member parliament.

Iraq Development Program - MP urges support for agricultural & industrial sectors

Businessmen, USAID team meet in Thi Qar

The businessmen's union in Thi Qar held its first economic development conference to support private sector institutions in southern Iraqi provinces under the supervision of the USAID and in coordination with the local chamber of commerce.

"An agreement has been made with the United States Agency for International Development (USAID) to establish a development center with the aim of supporting small projects in the southern area," the union's head, Ahmad Bonyan, told Aswat al-Iraq, Voices of Iraq, (VOI).

"The conference's objective is to coordinate efforts with international organizations and raise businessmen's capabilities through coordination with the businessmen's union," Bonyan explained.

As part of coordination, a large number of businessmen have been sent to attend training courses in Arbil province, he added.

Meanwhile, Sean Osner from the USAID said that the center will boost the private sector in the province of Thi Qar.

"The tourism and agricultural sectors are part of our plan, given their importance to the province," Osner added.

Nassiriya, the capital city of Thi Qar province, lies 380 km south of the Iraqi capital Baghdad.

Aswat Aliraq

Significant drop in the demand for the dollar

Demand for the dollar dipped sharply in the Iraqi Central Bank's auction on Wednesday, registering at $27.940 million compared to $127.325 million on Tuesday.

"The demand hit $1.870 million in cash and $26.70 million in money transfers outside the country, all covered by the bank at an exchange rate of 1,210 Iraqi dinars per dollar, unchanged for the eleventh session in a row," according to the central bank's daily bulletin which was received by Aswat al-Iraq- Voices of Iraq- (VOI).

The nine banks that participated in the auction offered to sell $1 million, which the bank bought at an exchange rate of 1,208 Iraqi dinars per dollar.

Speaking to VOI, Ali al-Yasseri, a trader, said that cash bids and remittances significantly dropped during the session as traders lost hope that the exchange rate will decline.

The Iraqi Central Bank runs a daily auction from Sunday to Thursday.

Aswat Aliraq