Thread: Archive Latest News - Dinar Think Tank - 27/08/08 - 15/01/09

Oil in a week - of Iraqi oil 2008-2009

Iraq's oil industry attract many different factors, the importance lies in its impact on the Iraqi oil industry in the next quarter of a century at least. That the decisions to be taken now, or those to be adopted during this phase, will develop the basic framework of the nature of Iraq's oil industry in the foreseeable future.

Some of these is the enticements in the launch of negotiations with international oil companies after nearly five years of occupation, and the deep differences between the ruling powers, which delayed the approval of the oil and gas law in parliament for two years, and between international companies and the oil ministry on the nature of the contracts that are expected to sign soon. In addition to continuing breaches of security, although it was less than in the past, and rampant corruption in the organs of the state and its institutions, and the pressure exerted by foreign powers for the benefit of their companies. Last, but not least, the dispute over the interpretation of hydrocarbons in the Constitution of 2005, particularly about the powers of the Ministry of Oil and territories in the negotiation and contracting with international companies, as happened with the Kurdistan Regional Government. is expected to increase the scope of this dispute in the near future with the provincial elections, particularly the province of Basra, proposed, at the end of this month.

The Ministry of Iraqi oil during 2008, signing an agreement to develop the Ahdab oil field, with a Chinese consortium led by China National Petroleum Corporation, which was the original agreement signed in 1997, but the Chinese characters which have not been implemented, because of the international embargo at the time. The Ministry of Oil in September (September) 2008 amendment to the agreement of the production sharing contract for the service, a step for Iraq. Strangely enough, the government has not done so far in the transfer of the agreement to parliament for approval, according to the laws in force, despite the arrival of the first crew of the Chinese officials a week ago to begin work in the field.

There is also the Oil Ministry, a preliminary agreement on the draft South Gas, and raised several questions, particularly by members of the Commission on oil and gas in the parliament, which did not submit the agreement thus far, despite the passage of at least three months after the signing. The first thing that raises the question in this huge project, not to his presentation of the auction, as stipulated in the laws in force, in addition to the uncertainty that surrounds it.

As explained Fouad Qassem, Iraqi expert in the study published by the Prince on the Web site «tomorrow», in addition to the text of the agreement in English, Prince put several questions, including: there is ambiguity in the geography of the Agreement, it refers first to the gas, Basra, and then spread to the South Gas , without defining the scope of the South. The agreement initially focuses on the treatment of associated gas, but after moving to the free development of gas fields.

The agreement also provides for Iraq to sell gas to the company «Shell» world prices, to sell the company to Iraq after the world prices as well. This means that the petrochemical products manufactured or agricultural fertilizers used in Iraq, will not be able to compete with similar products in neighboring countries that support the price of gas for local industries.

The study suggests an Iraqi expert, to the absence of any item determined the amount of gas necessary to meet growing domestic demand, and when the firm could begin exporting.

Last but not least, the agreement gives the company «Shell» or the company, which will be set later, a monopolistic right to free and associated gas in southern Iraq, which could include even the gas produced by the national oil company or companies working in the south.

The Oil Ministry is negotiating with the group of major international oil companies to contribute to the development of oil and gas fields, discovered and produced. This depends on the principle of negotiating service contracts, rather than adopting the principle of participation of production taken in the Kurdistan region. It is not clear so far in these negotiations, the role of the national oil company and the size of its stake.

However, it remains the most important challenge for the Iraqi oil industry, the outcome of the provincial elections, and whether the draft Christoz the vast territory of Basra for the success. In this case, is the territory of Basra will be followed by steps the territory of Kurdistan, or agreed to different solutions with the Ministry of Oil, because at least 70 percent of Iraq's oil reserves lie in Basra.

The success of the draft would mean the territory of the heart of Basra, the Iraqi oil industry upside down, as represented by this region of the importance of Iraq's oil. It will be seen in the light of local elections later this month, the nature and quality of the Iraqi oil industry in the foreseeable future: Will it be planned on the basis of the entire interest of Iraq, or fragmentation, as some try to interpret the Constitution according to mold and interests.

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International Monetary amounts allocated for the construction of 500 housing units in Halabja

The director of the municipality of Halabja Elimination of Sulaymaniyah, on Sunday, the International Monetary Fund agreed to allocate 47 million dollars for the construction of five hundred housing units in the judiciary under the auspices of the Iraqi government.

The numbness Mohammad Karim told (Voices of Iraq) that "the municipality of Halabja (83 km southeast of Sulaymaniyah) allocated Thelosmaip dunums of land for the project to build five hundred housing units, is implemented by the Iraqi government, with funding from the International Monetary Fund, which agreed to allocate 47 million dollars for the project."

Mohammed said, adding "different designs will be adopted in the construction of housing units, will be thirty thousand dollars per residential unit," without reference to the time of the implementation of the project.

He pointed out that "the housing units will be distributed to the different segments of the citizens of Halabja, provided that is not a citizen of the former recipients."

The town of Sulaymaniyah, the status of the province of Sulaimaniya, a distance of 364 kilometers northeast of the capital, Baghdad.

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Vote on the oil and gas law in the House of Representatives

Denied a useful member of the House of Representatives that there is the Algerian political reasons for the vote on the non-oil and gas law to date.

Jazairi predicted that the next few days, the arrival of the final version of the oil and gas law to the Council.

He told the Algerian press said on Saturday that more than one copy of the law has been prepared for presentation to the members of the House of Representatives, but he was subsequently withdrawn and modified, and it seems he has been taking different views on certain points.

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Denied the U.S. ambassador to Baghdad Ryan Crocker that the security agreement between the two countries constitute a potential threat to neighboring countries.

The Radio "Sawa" Crocker, the U.S. yesterday, saying, "not in the security agreement is a threat of any kind to Iraq's neighbors," he said, adding that the main objective is focused on strengthening security and stability in Iraq and that is exactly what was of concern to members of the negotiating team who saw to the the liberalization of the terms of the agreement. "

The ambassador said he did not understand the reasons for criticism of some neighboring countries of the Convention, noting that this leads us to put into question the commitment of these countries work to establish stability in Iraq. "

Crocker demanded Syria do more to stop the infiltration of foreign fighters and said, "We have expressed our concern and for a long time from the flow of terrorists and foreign suicide bombers into Iraq across the border with Syria."

"Despite the volume of infiltration fell slightly in the past, it seems clear that Syria is unable to make further efforts."

The fate of the detainees
Meanwhile, a spokesman for the U.S. military that some prisoners held for an indefinite period by the American forces in Iraq without charge may not be released or are being prosecuted, even after it lost the power of their detention by U.S. forces at the beginning of this year.

The Iraqi legal experts said the plans - which may be applied to prisoners by U.S. forces believe they are dangerous or to have intelligence value, but the charges have not been - had violated Iraqi law by the detention of people beyond the reach of justice.

U.S. forces are holding 15 prisoners, mostly arrested without charge, under the authority of the Security Council resolution which was due on December 31.

But approval
And Washington agreed under the terms of the agreement with Baghdad on the transfer of all prisoners to the Iraqi authorities detained under orders of the Iraqi judges, or released "safe and orderly."

The agreement does not mention any mechanism for the continued detention of prisoners without charges, legal experts say Iraqis that there is nothing provided for in Iraqi law.

But Maj. Neil Fischer, U.S. military spokesman, said that Washington would seek from Baghdad were not released, even if some of the prisoners could not charge them.

He said in an e-mail, "there will be cases where the detainee is of great value for intelligence or pose a significant threat, but he did not violate any Iraqi law and, therefore, to be released by the Convention on the basis of security."

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Originally Posted by Seaview

Trade: the ration card will be distributed free of charge

The Ministry of Commerce, Sunday, the citizens to refrain from the payment of any amounts in exchange for the new ration cards for 2009, which will be distributed throughout the country from tomorrow.

The Director of Information Ministry Mohammed Hanoun, told Voices of Iraq (VOI) that the Ministry of Trade "issued strict instructions to prevent the card Altamonip distribution centers to meet any amount of people," stressing that the ration card "will be distributed starting on Monday, free of charge."

The ministry has issued instructions on the mechanisms for the distribution of ration cards for 2009 committed by the directors of the branches to tighten supply and implementation of instructions and controls to ensure the accuracy of the delivery of ration cards to citizens free of charge.

Hanoun and urged the need for all citizens, "the reporting of any violation monitor through the distribution of new ration card, which will continue until the twelfth month of February," he said.

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Interesting,

The ration card is finally getting distributed, and as most remember, it was announced over a year ago initially. lol Perhaps this is normal in Iraq, so maybe a restoration of value is in the cards too given last talk of which was also a year ago. Sooner or later, it has to happen, especially now that more internal construction and rebuilding will also finally get underway, using Iraqi dinar, still not worth much. lol Could be a good sign, right?

Success to all, Mike

The ration card is a nice way to keep track as a census on the population and thus, a more effective method without spelling out the true objectives behind this latest measure put in place... but it also serves a sign as well.... go figure which serves best at times during a near transition...

Enezi: choose a new president of the parliament is complex and needs to be a long time

MP ruled out the United Iraqi Alliance, Abdul-Karim al-political blocs to reach agreement on a candidate for the presidency of the parliament soon, and called for the abolition of the decision on removing the former chairman of the parliament, Mahmoud al-Mashhadani, or to choose the candidate who obtains the highest number of votes until the new President of the Parliament.

It was suggested in an interview with Al-Enezi "Uzmatik", Sunday evening, the status of some alternative solutions to choose the speaker of parliament, while saying that "it is the abolition of these solutions between the previous resolution adopted by the parliament to dismiss the parliament speaker Mahmoud al-Mashhadani, or to choose the candidate who obtains the highest number of votes. "

Enezi said that "access to the candidate agreed upon between the political blocs will take a long time, because it is complex and intertwined," calling that "the House of Representatives is run by the Vice-President of the Council until a new president, because the law that would permit the meetings run by the MPs for the the selection of the President of the Council. "

He pointed to the representative of the coalition that "there are a lot of laws that must be finished in its legislation, including the financial budget for 2009, so the delay in the work of the parliament because of the choice of president would disrupt the House of Representatives."

The head of the National Dialogue Council, the deputy behind the Olayan announced earlier in the day for "Uzmatik", that "the leaders of political blocs in Iraq's parliament agreed to postpone consideration of the question of the selection of a new candidate for the presidency to parliament on Saturday," as announced earlier that " Dialogue Council, was nominated for the post of parliament speaker. "

Is noteworthy that the Iraqi parliament speaker Mahmoud al-Mashhadani had submitted his resignation from his post in the twenty-third of last month, a member of the Iraqi Parliament Speaker Mahmoud al-Mashhadani has resigned, the National Dialogue Council, which withdrew from the Accordance Front, the day after the resignation of al-Mashhadani, for reducing the number of parliamentary seats, the consensus of 38 to 29 seats out of a total of $ 275 parliament seats

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Min of Oil: decline in world oil prices is a concern not only for Iraq but for all Petroleum Exporting Countries

Said Oil Minister Hussain al-Shahristani: The Organization of Petroleum Exporting Countries, OPEC, will reduce production again if oil prices remain low and below the required level.

Shahristani said in a press statement, that "the FAO's most recent meeting in Vienna in March will be considered to reduce production again if world oil prices remain low." Shahristani added that "members of the organization discussed in the past two weeks in Algeria, to reduce oil production to raise prices, and the commitment to this reduction, "pointing out that" Iraq is the only country excluded from the reduction of oil production, because it is still produced without quota in OPEC. "The oil minister that" the decline in oil prices and decline significantly to 35 dollars per barrel, having reached more than $ 140 a barrel, a concern not only for Iraq but for all of Petroleum Exporting Countries ", noting that" oil prices could remain low because of the high cost of producing a barrel compared with the prevailing prices. "al-Shahristani, and that" The production cost per barrel of oil, in many of the producing countries, are in excess of $ 50, and therefore, the producing countries and factories have been borne by the sale of oil at a lower price from $ 50 for a short time, but can not sell such prices for long periods of time "

He noted Iraq's oil minister that "Iraq is the only country which did not exceed the cost of producing a barrel of five dollars and that the nature of the oil land.

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Trade: the ration card and remain linked to the reduction of world prices

The Ministry of Trade confirmed that the ration card remains in 2009 and will not be affected spectrum T_khasisatha down and the ministry is to conclude contracts with international companies sober. Ministry Spokesman Mohammed Hanoun, said in a press release:

It is expected to discuss the reduction of allocations for the 2009 card is no truth to news reports that some provinces on the extradition of citizens of cash from some of the articles which have not been equipped by the year 2007. Hanoun said that the allocations made for the card by the Council of Ministers and the amount of 5 billion dollars will be discussed reduction in consultation with the Ministry of Finance due to the decline of Iraq's financial income. and that this will not affect the supply of the items of the ration card because of lower food prices in the world. Indicating that the ministry was able to supply items of good cards, and all parts of Iraq. The official spokesman denied reports the ministry of the reports of some provinces to pay cash for the citizens due to the lack of some of the material supply during the year 2007, adding that there are studies that are not entitled to any statement that without the consent of the ministry and there was no intention at the present time to compensatory payments for items that have not been reached.

The ration cards were introduced in Iraq after 1990 in order to provide food needs of the population and contributed actively to the reduction of poverty in areas across the country as a reliable 70% of the population of Iraq is a real find and distribution have had a negative impact to where they need more than one occasion importance and usefulness for the poor families it was not the time to cancel it because of the economic circumstances surrounding the components of a broad spectrum of society is still entirely dependent upon. The results by the Central Agency for Statistics of the Ministry of Planning, 70% of Iraqi families depend entirely on the ration card, but that the suppression of the increase areas of poverty, which declined in recent years due to the recovery of the economic situation of families. The number of people who had already expressed in different words of hope to improve the vocabulary, considering that the card is still an important achievement by the State for the citizens. And prejudice, abolition under the circumstances, however, is welcome and will leave a negative impact on many families that depend on the spectrum. Expressing hope to overcome some obstacles in the distribution operations in recent years.

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The global economic crisis cast a shadow over the budget, Iraq

More blurred the picture with the continuation of the economic pressures brought about by the global financial crisis, has seen the Iraqi economic arena Altakbtat further with the continued decline in global oil prices, This is well illustrated in the warnings and concerns expressed by a number of officials, which forced the government to research and seek real solutions through to find a position to achieve the lowest proportion of losses, has resulted in discharge of the crisis to review some of Laws and recommendations to the Government has embarked implemented earlier, the issue of accession to the WTO.

Recommending the Chairman of the Economic Committee in the House of Representatives recently, Haider Abadi, the need to reconsider the question of accession to the organization in light of current global crisis, and now Iraq needs to review the previous Tquimath on the feasibility of joining the World Trade Organization, after the significant deterioration of the global economy, and the calls that have emerged in America and Europe to intervene directly from their governments to save the private economic sector, according to Abbadi.

He pointed out that the global financial crisis has forced many governments in the world to intervene in domestic trade, and made it to support certain economic sectors of their countries directly, and this runs counter to the demand by the Organization in the liberalization of economies of state control and intervention in the raids. Abbadi said that the Iraqi government will lead to a review of procedures that can be taken to join the World Trade Organization, in the light of recent data, and put the economic interests of Iraq at the forefront.

Abbadi said that the House was still working to confirm some of the legislation to facilitate Iraq's accession to the WTO, because of the rehabilitation and development of the Iraqi economy, despite the current concerns of the accession to the WTO after the current global financial crisis.

He stressed that the assessments conducted by the Ministry of Commerce and other economic institutions in Iraq, before 6 months have proved that the country has a significant interest in the entry to the organization, but felt that the current financial crisis requires new studies, to determine the definitive position on Iraq to enter the World Trade Organization. And a International Monetary Fund several conditions on Iraq, before its entry to the WTO, including privatization of state enterprises, and reduce the number of employees in the public sector, by providing the necessary support to the private sector.

In the meantime, said Oil Minister Hussain al-Shahristani: The oil and gas fields, which opened the new foreign companies had to raise Iraq's oil production is between two and 2.5 million barrels per day within three to four years from the end of 2009. At a news conference, al-Shahristani said a second round of the auction service contracts for the development of 11 oil and gas field .. Economists had recently called for those responsible in the Ministry of Oil and the Iraqi government to wait to sell the largest quantities of oil through the world market, according to Walt price mechanism after the international crisis, demanding the need to wait until the resumption of prices to normal after the removal of the causes which they said that in the forefront of political and psychological aspects .. The calls came as the opposite of what I expected, oil consultant Petrologistics Zhongguancun, which indicated that the supply of OPEC oil will decline, excluding Iraq and Indonesia, the report refers to the institution The Organization of Petroleum Exporting Countries has yet to be more than a pledge to reduce the eleven member countries, to nearly 27 million barrels per day to support Asaralinvt globally.

Overshadowed by the global economic crisis on the overall activities and events in Iraq following the reduction in the rate of emergency, which was the annual budget for Iraq, which calls for regulation by the Minister of Finance recently ..Sign former Deputy Prime Minister Ahmad Chalabi: the year 2009 to form economic challenge to Iraq owing to the substantial drop in oil prices, calling on the Government to the announcement of the plans if they spend through the deficit, he said. Chalabi said: The lack of production is a problem other than low oil prices.

Chalabi expressed his belief that the government is facing difficulty in passing the next budget in the House of Representatives, stressing the need to develop a realistic budget is dealt with by the existing entry. Chalabi called on the Government to maintain the currency reserves of Iraq, warning that prejudice is a threat to the value of Iraqi currency.

Chalabi, accompanied by calls for similar calls to a number of economists, who stressed the importance of Iraq to find the areas of finance other than oil, indicating that rely entirely on oil revenues would lead to real headaches for the Iraqi government on the future Vdilaa oil supplier inevitably depleted. Resound with the voices urging a search for financial resources in support of the oil, which has the budgets of the state each year on the total appropriation of it, what was considered a big mistake, the experts, economists cause serious economic damage, and called for the development of religious tourism, which suffers from a number of constraints, dealt with a number of economists, who spoke of the "contradictory actions hindered the arrival of thousands of visitors, who were not able to enter Iraq, pointing out that Iran seeks to enter the 10 thousand visitors a day, which means that Iraq billions of dollars a year."

In this context, many claimed the attention of tourism sector in general and given priority, and developed to the level of other sectors such as industry, agriculture, and to take advantage of international experience for its revitalization.

As well as calls began to support the budget from the cash reserve estimated at more than 40 billion dollars, as part of the solution is on the table, at the time began to show the repercussions of the global crisis, the government action, would be reflected negatively on the implementation of projects. crisis of chaos in the global oil prices, and increased the negative aspects of Iraq, who have difficulty in developing its budget, the lack of ability to set the price of oil on which its financial resources. In the meantime, Iraq's oil minister Hussain al-Shahristani, said Iraq was looking forward to the production of 4.5 million barrels of oil per day during the 4 years, with the courage to give international companies licensed to produce oil in the near future. Shahristani said: that the economic crisis in the industrialized countries affect the budgets of the oil market and oil countries, like Iraq, saying that he had been reviewed for the Iraqi budget for 2009 based on $ 50 a barrel instead of $ 80, which was scheduled basis.

Iraq currently produces 2.5 million barrels per day, but he is looking forward to increase this amount in Mahloz in the coming years. Shahristani said, "There are various projects within the national effort to increase the production to the levels of 3 million barrels per day, but the program is one of the main development during the first round of licensing, in cooperation with major oil companies that have been rehabilitated from a group of 120 companies, 35 companies were qualified only. Included in the first round of licensing for re-development of 6 large oil fields, and we expect to add to current production of 1.5 million barrels from the re-development of these fields to 3 million barrels, which Nkrjha Bmjhodna the national level, to get to 4.5 million barrels per day during the next four years ..

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