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

Sunni Arabs working on expulsion of Kurds from Iraqi Ministry of Defense

.. accused the President of Kurdistan region Massoud Barzani, "Sunni Arabs," the expulsion of Kurds from the Iraqi Ministry of Defense.

Barzani said during his meeting with a number of officials and editors of media in the province of Kurdistan, the Sunni Arabs after receiving opinions from elders not to join the Iraqi security apparatus, not actually to organize the new Iraqi army and other groups, who are now working on the expulsion of Kurds Office at the Iraqi Defense Ministry, in particular, the Ministry of Defense has set up by the Kurds. Barzani did not run further details about the expulsion of Kurds from the Ministry of Defense.

Barzani addressed to the differences between Arbil and Baghdad, saying: "The problem of borders, the fact that the central government considers that the borders of Kurdistan region should consist of areas set by the previous regime, but this can not be accepted.

With regard to the vote on Article (24) for the elections within the Kirkuk provincial elections law, Barzani said: "The plot had" "in the Iraqi Council of Representatives in July 22 was aimed at blurring the situation of Kirkuk and other areas came from the Kurdistan region, where Were directed against the Kurds aim to reduce the influence of the Kurds.

http://66.102.9.104/translate_c?hl=e...8Okfjq702FexJw

Iraq to be influenced by credit crunch - expert

Co-CEO of the world's largest asset management company PIMCO Mohamed al-Erian said that Iraq will be affected by the global financial crisis.

Companies seeking to invest in Iraq, which he described as a poor country, will find it difficult to borrow money to achieve its plans, Erian said in an interview with NRC, a regional cross-border newspaper for the Dutch-German border.

According to Erian, the financial Tsunami has not reached emerging economies thus far, adding that if that happens, social consequences will be great.

The U.S. bailout plan is "a necessary step because the situation had to be stabilized," he noted.

Expressing his doubts about the adequacy of the measure, Erian said: "My sense is you need to do more. We are going to look back and 700 billion will not be the final number."

Commenting on the authorities' handling of the situation, Erian said: "The U.S. is not used to crisis management, particularly in what is seen as the most sophisticated financial system in the world. There is not enough information about the crisis. And when the authorities do have information, they realize their instruments are blunt."

Pacific Investment Management Company (PIMCO) is a leading investment management firm and provider of retirement solutions.

Aswat Aliraq

Dollar demand up

Demand for the dollar increased at the Central Bank of Iraq (CBI) auction on Monday, registering at $99.795 million compared to $47.850 million in the previous session.

"The demand hit $52.235 million in cash and $47.560 million in foreign transfers outside the country, all covered by the bank at a stable exchange rate of 1,179 Iraqi dinars per dollar," an official source from the bank told Aswat al-Iraq.

None of the 12 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

Al-Dabbagh: 100.000 Dinars for displaced families

Ali al-Dabbagh, official spokesman of the Iraqi government said in a statement that PM al-Maliki agreed to spend a monthly salary of 150.000 Dinars to 250.000 displaced and returned families for three months, which started at October 1st.

The statement added that the Prime Minister agreed to spend 100.000 Dinars to these families for Eid al-Fitr event. The government also will spend 2 million dinars to the families which their houses were destroyed or who are in need for furniture.

PUKmedia :: English - Al-Dabbagh: 100.000 Dinars for displaced families

Baghdad preparing for new round of triple discussions on security

According to the head of the Unified Alliance Bloc in the Iraqi Parliament Ali al-Adeeb, Baghdad is preparing for a new round of triple discussions on security in Iraq.

Al-Adeeb said that the Iranian expressed the willingness to participate in the discussions. He added that Iraq is waiting for the U.S response in order to start the discussions.

He also stressed that the relations between U.S and Iran affect the security and stability in Iraq pointing out that Iraq is interested in sponsoring these discussions.

PUKmedia :: English - Baghdad preparing for new round of triple discussions on security

Western Union signs new agent in Iraq

Western Union, the leading provider of global money transfer services, has announced that it has signed a new agent in Iraq. The Investment Bank of Iraq, a leading private financial institution in Iraq, will now offer the complete range of Western Union services across all its 19 branches.

Established in 1993, the Investment Bank of Iraq is a leading private financial services provider in Iraq, with branches in Baghdad, Basra, Karablaa and Najaf. With the addition of the Investment Bank of Iraq as a cooperation partner, Western Union expands its presence in Iraq to 99 locations.

Hamza Dawood Halboon, Acting General Manager of Investment Bank of Iraq, said: “Western Union is one of the most trusted and recognizable global money transfer service provider in the world, and we are very pleased to cooperate with them to extend their patent fast, reliable and convenient service to the expatriate workers living and working in Iraq, as well as to the Iraqi nationals residing in the country.”

Jean-Claude Farah, Western Union Regional Vice President for Middle East, Pakistan and Afghanistan said: “The Investment Bank of Iraq is a major institution in the country and we are pleased to be associated with them in extending our presence in Iraq. We look forward to a long and fruitful relationship.”

To learn more about the Western Union money transfer services or to enquire about the Western Union loyalty programme visit www.westernunion.com.

PUKmedia :: English - Western Union signs new agent in Iraq

KRG signs understanding memo with S. Korean Knoc Company

The KRG minister of construction Emad Ahmed said that the KRG Delegation which is currently in a visit to South Korea has signed a contract with the Knoc Company in order to carry out the understanding memo between the KRG and the aforementioned company.

The KRG Delegation to S. Korea is headed by Mr. Nichervan Barzani, the KRG Premier and includes: Emad Ahmed, the minister of construction, Ashti Hawrami, the minister of natural resources, Herish Moharam, the head of investment body and Falah Mustafa, the head of the KRG foreign affairs office.

The KRG Delegation met the Korean President Lee Myung Bak yesterday.

PUKmedia :: English - KRG signs understanding memo with S. Korean Knoc Company

Iraq Eyes 2nd Oil Fields Bid Round By Yr End - Sources

Iraq is planning to announce this year a list of oil fields, mostly discovered but undeveloped, to be tendered in its second licensing round, Iraqi oil sources said Monday.

The fields expected to be included in second postwar bidding round are located in the southern, central and northern areas of Iraq.

Iraq's super giant fields of Majnoon, Bin Umar, Halfaya, Nassiriya and possibly West Qurna Phase II, all located in southern Iraq, and Qayiarah in the northern Mosul province are expected to be included in the second bidding round, they said.

Other fields under consideration by the ministry are Nur, al-Gharraf, Subba and Sindibad in southern Iraq. In the north, the ministry is planning to offer fields in Diyala province. In the center the fields expected to be announced for development include East Baghdad, Balad, and West Kifl, the sources said.

These fields are with estimated reserves of more than 40 billion barrels and a total production capacity of 3 million barrels a day, the sources, who are familiar with the Iraqi oil industry, told Dow Jones Newswires.

French major Total SA (TOT) negotiated a production sharing contracts for Majnoon and Bin Umar in the 1990s, but no PSC was signed as Iraq was still under the then U.N. sanctions.

Majnoon's estimated reserves are 12 billion barrels and its production capacity could reach 600,000 barrels a day. The field is producing around 50,000 barrels a day. The Bin Umar field has estimated reserves of around 6.3 billion barrels.

Russian oil major Lukoil Holdings (LUKOY) was awarded a production sharing contract to develop the West Qurna-phase II field in 1997, but operations were curtailed in 1999 because of the sanctions and in December 2002, Iraq said it unilaterally served the contract with Lukoil. The field's estimated reserves are put around 6 billion.

Many international oil companies, including those from South Korea, negotiated the super giant Halfaya field during the 1990s, but no contracts were signed. Halfaya contains estimated reserves of 4.1 billion barrels and it is believed to be able to sustain output of 250,000 barrels a day.

The Oil Ministry signed recently a $3 billion contract with China National Petroleum Corp. to develop Al Ahdab field in central Iraq. The contract was signed during Saddam Hussein's regime, but it was renegotiated and changed from PSC to a service contract.

They said contracts for the fields in the second bidding round would be similar to Al Ahdab contract and those in the first round, which was announced last June, when the ministry offered 20-year service contracts to 35 pre-qualified international oil companies to help develop six major producing fields. They first round covered six oil fields - Kirkuk and Bai Hassan in northern Iraq, Rumaila, Zubair, West Qurna-phase I and Missan in southern Iraq.

Iraq's Oil Minister Hussein al-Shahristani told al-Jazeerah ********** station last week that his ministry would never sign PSCs with international companies and it is offering only service contracts.

Sources added that the Oil Ministry could announce the second bidding round when ministry officials meet representatives of international oil companies at the London roadshow meeting on Oct. 13 to present them tender documents for the first round.

Iraq hopes to increase its crude oil production to 4.5 million barrels a day in five years' time and to 6 million barrels a day in 10 years' time from 2.5 million barrels a day.

UPDATE: Iraq Eyes 2nd Oil Fields Bid Round By Yr End -Sources

Symposium on natural gas investment in Iraq next month

Adviser Center for the Study of the Arabian Gulf in Basra on Saturday, the center will be the middle of next month a seminar entitled "Natural Gas in Iraq between domestic investment and foreign participation" over the agreement with Shell International to invest natural gas in Iraq. "DrAbdul-Jabbar Hilfi" The symposium will be the repercussions of the agreement between the South Oil Company and Shell International on the extraction of natural gas in Iraq is co-sponsoring academic research specialists in the economics of oil. " He said the number of academics in the Graduate School of Management and Economics at the University of Basra, and a group of experts and technicians in the Arab Gulf Studies Center and the South Oil Company participate in the discussion of proposals submitted during the symposium. "The Cabinet decided earlier this month approved an agreement of principles with Shell to invest associated gas In the province of Basra. A statement by the Spokesman on behalf of the Iraqi government said the Cabinet decided at its special session earlier this month approved an agreement of principles with Shell to invest associated gas in the province of Basra partnership between Shell Oil Company and the South. Spread west, east and north of Basra ( 590 km south of Baghdad) near dozens of firearms flares from oil fields, which remain well lit as long as the product is the result of the burning of gas associated with oil exploitation without causing serious losses.

Translated version of http://almalafpress.net/index.php?m=39

Jaafari: All security agreement with America outside the umbrella of the United Nations would not be good for Iraq

The former Iraqi Prime Minister Ibrahim al-Jaafari said, "Any security agreement with the United States outside the framework of the international organization, it is certainly not in the interest of Iraq and the future of its children", he said.

He said Jaafari, who heads the national trend of reform in an interview with "Uzmatik" "The annual renewal of stay of foreign forces in Iraq by the United Nations, the best solution is to give them the necessary legitimacy for the continuation of work on Iraqi territory."

Jaafari stressed that "the Convention long-term security, which are U.S. and Iraqi governments of negotiations to resolve the contentious points Strhn the future of the country for many years, however, the American forces, and will give immunity to those forces soldiers of any matter, as is happening now in Germany, Japan, for more than sixty years, and without States that it will be able to change one item, which agreed with the United States, "said Jaafari.

Jaafari, and that "work within the international umbrella for several more years of the Iraqi army will provide opportunities for self-sufficiency and security without outside help and therefore not to sign any security agreement with any friendly country of Iraq."

Jaafari stressed that "America does not need Iraqi forces to go to Florida to protect them from the risk of a military coup happened," adding that "it all is that the U.S. side wants to keep troops on Iraqi territory and unilaterally."

Jaafari suggested that "the United States to understand that Iraq gives priority in trade and technology, that does not affect the national sovereignty of Iraq."

The Iraqi prime minister, former "American threat to lift the immunity from Iraqi funds, that reflects bad faith from the American side, and an attempt to pressure the Iraqi government to sign a security agreement the terms of an American."

Jaafari stressed "the need not to deal America and the international community also dealt with Iraq with Germany after the Second World War, the fact that Hitler came to power a democratic process in Iraq usurped Saddam Hussein's military coup and seized the will of all its citizens."

Translated version of http://iraqalaan.com/