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

Odierno takes charge of US forces in Iraq

CAMP VICTORY, Iraq, Sept 16, 2008 (AFP) - US General Raymond Odierno took charge of US-led forces in Iraq on Tuesday from David Petraeus, the general credited with pulling the violence-wracked country back from all-out civil war.

Petraeus handed the command of the 146,000-strong US force after heading a controversial military "surge" strategy by President George W. Bush that curbed the daily bloodletting in Iraq which killed tens of thousands of people.

The formal handover ceremony took place at a former Saddam Hussein era palace near Baghdad airport located at Camp Victory, a US military base.

But on the eve of the transfer of power, Odierno was given a powerful reminder of the task ahead when a series of bomb blasts killed at least 34 people.

Iraq was spiralling into an all-out civil war when Petraeus took over as commander in February 2007, almost four years after Saddam was toppled by US-led invading forces.

But since late last year violence has fallen significantly to a four-year low, and much of the credit has gone to the counter-insurgency strategies of the 55-year-old Petraeus.

Petraeus becomes the new chief of Central Command with responsibility for US troops from the Horn of Africa to Central Asia, including the conflicts in both Afghanistan and Iraq.

On Monday, Gates credited Petraeus's "brilliant strategy" and its implementation by US troops and field commanders for the success of the surge.

"I think he's played a historic role. There is just no two ways about it," he said.

Petraeus oversaw the surge, but it was his former deputy Odierno who first proposed it in December 2006 to a resistant Pentagon, setting the stage for what would become a pivotal turn in the unpopular war.

Odierno, a hulking artillery man criticised for running roughshod over civilians during his first tour to Iraq in 2003-2004, implemented the "surge" strategy as the corps commander from December 2006 to March 2008, which Gates said made him the right person to replace Petraeus.

Odierno carried out the detailed counter-insurgency campaign that poured US troops into Baghdad, cleared Al-Qaeda insurgents from havens in communities surrounding the capital, and targeted Shiite extremists.

"Just as important as the surge was the change in our tactics, techniques and procedures that got us back out in the neighbourhoods," Odierno told reporters at the end of his previous tour in March.

The imposing, six-foot-five (1.99-metre) tall Odierno will have his hands full as he takes command of the 146,000 troops on the ground.
He takes charge at a time when, according to Gates, American forces are on a "mission in transition" as troop numbers shrink with more and more provinces being handed back to Iraqi control.

"There is no question we will still be engaged as we are, but the areas in which we are seriously engaged will I think continue to narrow," Gates said.

"And the challenge for General Odierno is how do we work with the Iraqis to preserve the gains that have already been achieved, and expand upon them even as the number of US forces are shrinking."

Iraq currently handles security in 11 of its 18 provinces with plans to take over a couple more by the end of the year. But the country still remains fragile.

On Monday, a series of bombings killed at least 34 people and wounded dozens more.

The most lethal was when a woman suicide bomber blew herself up in a crowd of people breaking the Ramadan fast in the town of Bala Druz in restive Diyala province, killing 22.

Last week Petraeus told AFP in an interview that he was leaving behind a "significantly improved" Iraq but still one which was vulnerable to "lethal attacks by Al-Qaeda and Shiite militias."

Odierno has argued consistently against sharp cutbacks in troop levels in Iraq, which is negotiating a controversial security pact with Washington to determine trooop levels after a UN mandate expires at the end of the year.

But the 146,000-strong US force will shrink by about 8,000 troops by January, when Bush leaves office. Pressure for further reductions is likely to intensify as attention shifts toward Afghanistan.

Odierno takes charge of US forces in Iraq

Oil Exports from Iraq Plunge to 860,000 b/d on Unspecified Production Disturbances

Iraq's oil exports have sunk to 860,000 b/d in the past few days, a far cry from normal levels of around 2 million b/d, Reuters reports. Shipping sources have confirmed to the news agency that exports from Iraq's southern oilfields flowed at only 860,000 b/d during yesterday and today, without any explanation, while the northern oilfields' export through the Kirkuk-Ceyhan pipeline to the Turkish Mediterranean port has been below normal levels almost consistently since last Wednesday (10 September), with only a brief restart reported on 12 September.

Oil export volumes from the southern terminals were already slowing down by Saturday (13 September), falling to 1.68 million b/d according to shipping sources.

Significance: The slide is worrying given the huge volume that has been taken off the market. While there is no clear indication of why both the northern pipeline and the southern fields should be working on less-than-normal output, the size of the shut-in will result in Iraqi monthly average export numbers falling yet again for September, even if flows are restored fully by tomorrow. Iraq has just recently started to be considered by the world markets to have some stability of supplies, but the lack of communication around its southern and northern output slides will not strengthen that view.

Oil Exports from Iraq Plunge to 860,000 b/d on Unspecified Production Disturbances

Dollar demand up in CBI auction

Demand for the dollar was up in the Central Bank of Iraq (CBI) auction on Tuesday, registering $81.680 million compared to $70.635 million during the last session.

"The demand hit $11.020 million in cash and $70.660 million in foreign transfers outside the country, all covered by the bank at a stable exchange rate of 1,180 Iraqi dinars per dollar, unchanged for the fourth consecutive session," an official source from the bank told Aswat al-Iraq – Voices of Iraq – (VOI).

None of the 14 banks that participated in the session offered to sell dollars.

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

Aswat Aliraq

Urgent: Reach agreement on Electoral Law and tomorrow will see the vote in Parliament

The Chairmen of the legal and territories in the House of Representatives that the Iraqi "political parties reached an agreement allowing a vote on the election law in the meeting of parliament on Wednesday."

The head of the Legal Bahaa Al-Araji told journalists today, Tuesday, that "the committee assigned to consider the presidential veto on the law of provincial council elections has been able today to reach an agreement satisfactory to all, would allow passing the election law and subject to a vote tomorrow, Wednesday."

Al-Araji added that "the agreement contains four main points, namely the postponement of elections in the governorate of Kirkuk, and to keep the status quo in the province that is now a power-sharing administrative and security between the three main components in maintaining evenly until the holding of elections in Kirkuk, as well as enacting law So as to preserve special elections are held during a period of up to the end of next year. "

The Head of the Legal Committee in the Iraqi parliament that "this proposal met with strong acceptance and most political blocs, but the Kurdistan Alliance bloc asked for the opinion of political leaders to respond to these amendments," pointing out that tomorrow, Wednesday, "will be crucial days to vote on election law."

For his part, Chairman of the Committee on Territories in the House of Representatives Iraqi Hashim Al-Taee that "the political blocs reached an agreement on a safeguards that were claimed by Arabs and Turkmen in Kirkuk, which facilitated the process narrow the gap in viewpoints between political factions" as he put it.

He pointed out that Al-Taee "recent opinion requested by Arabs and Turkmen law is the inclusion of 13 private formation regions in Iraq on proposals relating to the city of Kirkuk," without giving more details about how it would be to include this law in the deposits by the proposals, pointing out that "coalition Kurdistan showed great flexibility in the discussions today, and I think that tomorrow will see the vote on the district councils election law "as saying.

The Al-Taee, "The finishing touches are now under way to develop a new formulation of article 24 for inclusion in the law which will vote by the parliament."

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Update......

TotalFinaElf oil discussed with Iraq the possibility of a return to "permanently"

The ****utive Director of the French oil group TotalFinaElf Christophe de Marjorie that the group discussed with the Iraqi government the possibility to return to Iraq "permanently" in an interview with the newspaper "of Figaro" published Tuesday.

He said, "is currently discussing with the Ministry of Oil (Iraqi) How can we return permanently" to Iraq.

He explained, however, that "Iraqi legislation is not stable yet, especially since the security of individuals is still the main problem even though the situation is improved."

Marjorie was announced in the first of July that he was about to sign a service contract with Iraq.

Baghdad had announced the end of June it had not yet reached any agreement with global oil companies to provide technical assistance in the short term describing such companies as greedy. But Iraq's proposed signing of "service contracts" over the longer term with 41 foreign oil companies to invest in six mining and petroleum mines Gazeta, including the French group announced as the Iraqi Oil Ministry.
And occupy Iraq ranked third in terms of global oil reserves and currently produces around 2.41 million barrels a day.

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The Committee on Oil & Gas: Second licences will be announced in October next

According to a member of the Committee on the oil and gas in the House of Representatives Abdul Hadi Belles in an interview with Radio NOAA that the Committee's second licence will be announced in October of next month.

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Iraq participate in the Second Economic Forum in Tunis

Said board member Chamber of Commerce of Baghdad, Tuesday, that a number of businessmen and industrialists Iraqis will be contributing to the Second Economic Forum events to be held in Tunis on August 4 in November next.

He added Ismail Acialki: The Forum, which meets when the Arab economic organizations and various international station will be to share experiences of industrial, agricultural and commercial, in which the participants acquainted with technical developments in the fields of quality and productivity of all. "

He continued Acialki: It will also be an opportunity for abuse and reciprocal business transaction in the interests of guests Forum.

He pointed out that the Iraqi delegation seeking to discuss with the Chamber of Commerce, Tunisia and industrial sectors including establishes a relationship with the Tunisian markets on both sides of import and export to meet the needs of both parties.

His desire to learn from the Tunisian industrial shop, stand on the production lines to enhance trade relations and to gain experiences.

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Industrial development grants (305) leaves for new industrial projects

Granted the General Directorate of Industrial Development One formations, the Ministry of Industry and Minerals, (305) leaves the establishment of new industrial projects during last July, and distributed to various industrial sectors (food, textile, wood, paper, chemical, plastic, construction, metal manufacturing and processing industries).

An official source at the Directorate: The food industry ranked first in terms of obtaining the licences issued by obtaining (80) leave the founding

With occupied manufactured metal industries ranked second by obtaining (64) leave the construction industry was ranked third by obtaining (52) leave, while the remaining leaves by herself (42) leave the founding of the Chemical and Plastic Industries, (32) leave for timber industries with (17) leave for industries like paper and textile industries, in addition to leave one of the manufacturing industries.

According to the same source that the Directorate had been granted during last June (347) leave the founding of new industrial projects and distributed to various industrial sectors worth a total investment amounted to (52.561) million dinars.

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Investment Authority investment draw up policy in Maysan to attract local and foreign investors

Painted an investment in the governorate of Missan governorate's investment policy through the development of the investment map, which was adopted by the sectoral standard. He said the engineer is a member of the Investment Authority in Maysan distribution map on the basis of the investment sectors are important sectors, which have been identified projects and investment in the oil sector is because of this very important sector was making its own map and the map was adopted on projects that rely on oil projects away from Because the extraction of oil extraction is not the prerogative of the Investment Authority is to build cities, oil refineries and special projects mobilize fuel stations in addition to the transfer of products.

He added that the sector most important is the fact that the housing sector investment environment is very appropriate and that it needs to maintain 60 thousand housing units and we charted map and put the housing units, and there is mapping all sectors, which the health sector, tourism, transportation and preservation of investment environment in these areas, many Investors have been attracted to preserve some local and foreign companies including LG NBA Canadian paper was signed and work with them and Arab investors have been agreed with them that it would support investment to maintain and to Iraq in general and this is what we seek Him.

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Arab Economic Report: Iraq oil stocks equivalent to more countries rich world

Description of the Arab Economic Report issued in 2008 in Beirut recently, that Iraq possessed a stockpile of oil and gas equivalent to a more oil-rich countries in the world. He commended the report issued by the General Union of Chambers of Commerce, Industry and Agriculture of Arab economic policy of government operating despite the security conditions complex, to develop the local economy and improve the standard of living of the population, according to the report stated. The report was composed of approximately 450 pages, that "Iraq contains 530 complex geology of the large oil reserves," and stated that there were "115 subject so far been excavated, reserves are estimated at about 311 billion barrels of oil, in addition to the 415 position undiscovered increase Reserves of 215 billion barrels. "

The report reviewed the gas wealth of Iraq, pointing out that the Iraqi Ministry of Oil: "announced during the first half than in 2007, the discovery of gas field extends from the governorate of Ninawa in northern Iraq to an area in the western region of the country, and southward to the border with Saudi Arabia."

It was the largest field in the country, pointing out that "the EU countries had shown great interest in this field because of its proximity to continental Europe, particularly in the framework of the joint gas pipeline project connecting both Jordan and Egypt, Syria and Turkey towards the European continent.

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