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

Compromise for most outstanding issues & expectations continued talks "Sofa" for weeks to come

Close political leaders signed a closing statement for their meetings as "a Baghdad", including what has been reached and recommendations for pre outstanding files. Although a number of issues still in dispute between the leaders, but the meetings Is still continuing succeeded in overcoming the obstacles in front of several files, according to a source familiar with the negotiations.

The past few days have witnessed several meetings, apart from talks, which focused on the security agreement to be signed with the United States, the meetings held extensive discussions between the political parties to discuss the outstanding issues were Bilateral meetings and four and five. The files oil and gas laws and federal budget and file of article 140 and the issue of Khanaqin, in addition to the issue of minorities in the electoral law at the forefront of things that consideration of political summits.

According to MP Hassan Othman, the Kurdish Alliance, the talks will be after the end of the exit agreement as "a Baghdad", noting that the opportunity to reach so close and find definitive solutions to many of the issues to be resolved for full-time campaign to reconstruction and to address the issue of unemployment.

Osman revealed the "morning" about the presence of visions and new ideas and compromises carrying Kurdish leaders Participants in the meetings, a number of important files concerning the future of the Iraqi people, he raised several issues concerning relations between the central government and provincial government and discuss all the files at once. The President Republic Jalal Talabani and Kurdistan regional president Massoud Barzani had agreed on a program of work before the start of the meetings in Baghdad.

In the case of a security treaty, most likely leader of the Kurdistan Alliance MP Mahmoud Othman, continuing dialogues on "Sofa" for weeks.

The Political Council for National Security postponed the recommendations to the security agreement to be signed with Washington to an expanded meeting will be held in the next few days, because of the presence of three observations and the issue of expanding political participation in decision-making.

Osman said in a telephone conversation with the "morning" to discuss the issue of security understanding will take time and may extend to before the end of the year they (the Convention) requires further research and study between the political parties.

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Iraq received the report of the IMF debt for the deletion of the end of 2008

A source at the Finance Ministry said Iraq would hand the report from the International Monetary Fund to the Paris Club the end of the year for the deletion of external debt.

The source added that the outstanding debt on Iraq is twenty percent of the reduction rate of eighty percent.

The source added that Iraq is the correct way to complete its obligations in terms of the agreement support the first (SPA), which ended in December 2007 or the second ending in December 2008.

The Finance Minister Bayan Jabr met with the President of the New York International Monetary Fund Dominique and discussed with him the issue of Iraq's foreign debt and the remainder representing twenty percent, or around thirty billion dollars.

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President of Kurdistan Regional Gov: we can export 100,000 barrels of oil now

Head of the Kurdistan Regional Government Nechirvan Barzani, Sunday, the region's capacity to export 100 thousand barrels of oil a day.

Barzani said during a welcoming ceremony for the largest delegation of traders and businessmen Germans this evening (Sunday) in Khanzad luxury hotel overlooking the Salaheddin summer holidays (25 km east of Arbil) the presence of the German ambassador in Baghdad, Christopher Vaile Kurdistan region's economy "boomed", alluding to That the region could now "exporting 100 thousand barrels of oil a day."

The high-level delegation headed by the President of the Kurdistan region of Iraq in Baghdad now discuss the outstanding issues between Baghdad and Irbil, notably oil and gas law and contracts for oil Kurdistan.

Barzani said at the ceremony attended by (Voices of Iraq) that the territory of Kurdistan, "wanted to become an economic gateway for Iraq to attract investors from all over the world", and expressed his hope that Germany's "active participation in the reconstruction of Iraq."

The President of the Kurdistan Regional Government, "his government's readiness to cooperate with German businessmen to enable them to invest in Kurdistan and around Iraq."

Said the German ambassador in Baghdad, Christopher Fail delegation of German businessmen visiting Kurdistan region for years, but their visit this time different, "noting that it is" a serious step to enable German companies to invest actively in the Kurdistan region and to participate in rebuilding the region. "

Vaile said that "The visit of such a large number of representatives of German companies demonstrates the genuine desire to participate in the rebuilding of this country."

The trade delegation includes representatives of 40 German companies and a number of traders and businessmen, the first time he visited, such as the number of traders and businessmen German Kurdistan.

The city of Arbil province Arbil, 360 km north of capital Baghdad.

Translated version of http://ar.aswataliraq.info/?p=104088

Oil Giants find scramble for Iraq is a game with complex rules
Western firms eyeing lucrative deals fear legal difficulties, says Tim Webb

Ivan, a thick-set Serbian ex-military policeman who now works as a bodyguard for foreign companies in northern Iraq, has a good sense of humour. He jokes that the country is 'boring' now. Before commercial flights to the country started after the 2003 war, he and his twin brother Stojan used to ferry European businessmen in heavily armed convoys across the mountainous and largely lawless border from Turkey into Iraq. 'That was fun,' he smiled wistfully. But though security in Iraq has since improved, for Westerners it is still one of the most dangerous places on earth. 'Last week I had to eliminate someone,' he explains, without going into detail. The foreign businessmen who have just stepped off the plane at Erbil airport in the north of the country decide against pressing him further. He hands his new charges body armour and then they join their round-the-clock heavily armed security detail. It's a unique welcome, Iraq-style.

On Monday, in more serene surroundings at the Sheraton Park Lane opposite Buckingham Palace in London, Hussain al-Shahristani, Iraq's oil minister, met ****utives from Shell, BP, ExxonMobil, Chevron, Total and dozens of other foreign oil companies. On the table were eight contracts to develop Iraq's eight largest oil fields, which Baghdad hopes will almost double the country's production to 4.5 million barrels of oil per day (bpd). Last month, Shell agreed to invest up to $4bn to form a joint venture to produce gas in the south. It has also become the first oil major to open a permanent office in Baghdad, though most foreign oil ****utives remain reluctant to visit the capital because of safety fears, despite pressure from the Iraqi oil ministry to attend meetings there. Five years after the US-led invasion of the country, the long-awaited - and controversial - foreign-led development of Iraq's vast oil resources looks set to begin in earnest.

But as security improves and Baghdad starts to draw up contracts, many questions remain, says Samuel Ciszuk of Global Insight. Addax Petroleum, a Swiss oil company, is one of a handful of small foreign firms already operating in Iraq. Managers at its huge Taq Taq field near Erbil know from experience that Iraq is not an easy place to do business. There has been no production at the field since July because the Kurdistan Regional Government (KRG), which governs the semi-autonomous region, has not extended the company's licence.

More importantly, the longer-term plans of Addax and its Turkish partner, Genel Enerji, to increase production at the site to 150,000 bpd are clouded in uncertainty. No pipeline runs from the field, so trucks have to carry the oil, selling it to the local market, usually at a discount to going rates. Addax says that only a maximum of 60,000 bpd can be moved this way. But no construction work on a pipeline has begun because Baghdad has banned the KRG from exporting oil from the region. The ban will only be lifted once the long-awaited national oil legislation - which will set out who controls the oil and how to exploit it - is passed. The problem is, Baghdad and the KRG have been locked in stalemate over the new law for the past two years, and no one knows when it may get signed.

Herish Muharam Muhamad, chairman of the regional board of investment, was adamant when he spoke to The Observer that the KRG should have control over the region's oil. 'When we talk about oil and natural resources, we are talking about our constitutional rights,' he said. 'If our friends in the rest of Iraq think we should not be doing this, it's not our problem.' The continuing stand-off leaves companies like Addax in limbo.

The oil majors are also anxiously watching the tortuous negotiations, which continued last week. The eight contracts outlined in London on Monday offer attractive terms, but the worry is that the new oil legislation - whenever it is passed - could change the terms retrospectively.

Despite the problems, Iraq remains hugely attractive. It holds an estimated 112 billion barrels of reserves, the second largest in the world. Much of the country remains unexplored and production costs are among the lowest in the world. With resource nationalism limiting the opportunities for oil majors to boost their production, Iraq is a valuable prize.

But foreign oil companies have to tread warily in a country often suspicious of their motives. Baghdad has refused to offer production-sharing agreements - preferred by companies as they allow them to book a share of a country's reserves - because Iraq wants to retain sovereignty over its oil. John McKeon, a former director of Circle Oil who knows Iraq well, says: 'The Iraqis are suspicious of the foreign companies and who is behind them. They want to get a good deal for the nation.'

When Addax ****utives visited Shiwashok, a dusty village of primitive huts near its Taq Taq field, Mr Sadi, a village elder, told company ****utives about the severe summer drought and asked for more water supplies from the company. They promised to oblige. In a complicated country, Addax - like all foreign oil companies in Iraq - knows it needs support with the KRG, Baghdad and among ordinary Iraqis for its gamble to pay off.

Oil giants find scramble for Iraq is a game with complex rules | Business | The Observer

President of the Federation of Iraqi businessmen .. investment contracts for Arab and foreign companies signed in Iraq of 74 billion dollars

Iraqi official disclosed the value of investment contracts for Arab and foreign companies signed in Iraq and said they amount to 74 billion dollars, a large share of the Gulf Arab states, particularly the UAE and Kuwait, while Saudi Arabia accounts for almost non-existent. The Iraqi official denied that real estate prices in Baghdad, has seen great leaps support The flow of investments in the construction sector and construction pointing at the same time that the South and the Kurdistan region of Iraq where prices rose by providing security and stability.
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Translated version of http://www.hewarat.dk/hewarat_data.php?sid=12143

Final draft of Convention states: move to monitor & control airspace of Iraq to Iraqi authorities once agreement in effect
According to a copy of the final draft agreement released yesterday, it «the United States have the right to exercise primary jurisdiction over troops and the civilian component on matters falling within the rules and areas agreed upon,

During the case to be outside the facility ». These spaces. However, the Convention gave Baghdad the right to prosecute American troops. The draft «Iraq have the right to exercise primary jurisdiction over troops and the civilian component on the deliberate and serious crimes that are committed outside the rules and outside the case to be».

The draft shows that U.S. combat troops to withdraw from the cities, villages and towns of no more than June 2009, while the withdrawal of all troops no later than December 30, 2011. The Iraqi security forces will take full responsibility.

Based «withdrawing combat troops in the facilities and areas agreed upon, and outside cities, villages and towns that will be determined by the joint committee to coordinate military operations, before the date specified«, according to the draft. According to the draft «All military operations carried out under an agreement with the Government of Iraq, in full coordination with the Iraqi authorities and oversees the coordination of all those military operations, a joint committee to coordinate military operations».

It points out that «the Government of Iraq requests the temporary assistance of United States troops in order to support in their efforts to maintain security and stability in Iraq, including cooperation in operations against al-Qaida and other terrorist groups and groups outside the law, including the remnants of The former regime ».

The «the implementation of all these operations with full respect for the Iraqi constitution and the laws of Iraq and the implementation of such operations in line with Iraq's sovereignty and national interests as defined by the Government of Iraq is the duty of United States forces to respect Iraq's laws, customs and traditions and international law in force».

Under the draft agreement that «No U.S. forces arrest any person, or the arrest, but the decision by the Iraqi issue of the Iraqi justice». The «in the event that forces the United arrest or arrested persons, as authorized in the agreement, persons must be handed over to the competent Iraqi authorities within 24 hours of arrest».

According to the Convention «movement of the surveillance and control over Iraqi airspace to the Iraqi authorities once the agreement into effect«, The convention gives Iraq «President the right to exercise jurisdiction over contractors with the United States and their employers».

Convention and decides the fate of U.S. troops in Iraq at the United Nations mandate expires in December 31, and the failure to agree on its Baghdad and Washington forced the search for a new legal formula. In the event of adoption of the convention in parliament and signed by the parties, will force since the first of January and valid for three years.

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Iraqi government review the security agreement with Washington Tuesday

Iraqi parliament said that the agreement today, Monday, the controversial security between Baghdad and Washington will be presented tomorrow to the cabinet for a decision on referral to the House of Representatives for approval.

The head of the "Iraqi" melon MP Gamal Al Shammari, told AFP that "the Political Council for National Security, referred Sunday at its final draft of a security agreement with Washington to the Council of Ministers for discussion tomorrow," he said Tuesday.

The Council discussed by top leaders of the Convention without that decision.

He said the "political blocs held meetings during the past two days to discuss the final draft, which will be issued separate statements to express its position on the Convention."

Shammari said that "there had not seen blocks of the Convention and asking the position quickly."

The mass "Iraqi" led by former Prime Minister Iyad Allawi includes 24 deputies, but some of them quit to become No. 17 today.

Shammari said that "the political council of national security can not turn down the deal or the approval of Parliament but is the only authority that."

Meanwhile, Vice President Abdullah al-spokesman "Accordance Front," told AFP: "We have a feeling that the agreement will be presented to the cabinet tomorrow."

"During Sunday's meeting was called to speed up the Convention introduced to the Council of Ministers is expected to take a final view of the Council of Ministers in the coming days."

He said he "will be determined once the positions very soon."

Meanwhile, MP Hassan Al Shammari head of the Fadhila "There is news of the Convention on tomorrow, Tuesday, the Council of Ministers."

On the position of the bloc, "We are still in the process of being examined."

Asked that "the situation in Iraq in the event of a new and disturbing neighboring countries (...) of her to defend its national security even if it takes practice outside its borders."

Translated version of http://iraqshabab.net/index.php?option=com_content&task=view&id=12706&It emid=1

US insists Iraq pact guarantees sovereignty

The United States insisted on Monday that a planned security pact with Baghdad would ensure full Iraqi sovereignty as local leaders pored over the deal amid fierce opposition by some key players.

"It is an important agreement that fully restores Iraq's sovereignty while allowing US forces to continue for a temporary time to assist Iraqi security forces," the US ambassador to Iraq, Ryan Crocker, said in a speech in Baghdad.

His remark came as the Iraqi cabinet and the high-level Political Council for National Security discussed the controversial draft agreement for a second day, before passing it to the cabinet for review.

The pact, which aims to lay down a framework for the presence of US-led troops after a UN mandate expires at the end of the year, has drawn fierce opposition from some political groups.

Powerful anti-American Shiite cleric Moqtada al-Sadr is strongly opposed to the deal, and even members of Iraqi Prime Minister Nuri al-Maliki's ruling alliance have come out against it, calling for revisions.

The so-called Status of Forces Agreement (SOFA) was due to be concluded by the end of July but negotiations between Baghdad and Washington became bogged down over a series of sticking points.
"We are continuing our talks with the Iraqis and the Iraqis are talking among themselves. That is to be expected and we hope to move forward on this," US embassy spokeswoman Susan Ziadeh told AFP.

Under the latest draft agreement, US combat forces will withdraw from Iraqi towns and villages by June 2009 and from the violence-ravaged country completely by December 2011.

According to a draft copy made available to AFP, Washington has agreed to offer powers to Baghdad to prosecute its soldiers and civilians if they commit serious offences outside their bases and when off duty.

The decision, which aims to resolve a key Iraqi bone of contention, is seen as a hard-won concession for Maliki who has taken a tough stand on protecting Iraqi sovereignty in the negotiations with Washington.

The two sides have also agreed that all military operations will be carried out with the approval of Baghdad under the supervision of a Joint Military Operation Coordination Committee.

The agreement also restricts US military powers by permitting troops to detain Iraqis only through an Iraqi order.

If the deal is signed by Baghdad and Washington and approved by the Iraqi parliament, it will become effective January 1 and last for three years, during which a phased withdrawal of US forces is outlined.

A failure to agree on the terms would force Baghdad and Washington to find another legal framework for the US troops, who first invaded Iraq in 2003 and ousted the regime of now ****uted dictator Saddam Hussein.

The latest draft was discussed on Sunday by Iraq's decision-making Political Council for National Security, which includes President Jalal Talabani, the prime minister Maliki and other top officials.

Talks centred on the ability of the Iraqi army to defend the country once US troops withdraw and whether the pact would have any impact on Iraq's oil wealth, Naseer al-Ani, a senior official in Talabani's office told Al-Sabah.

However, the deal is vehemently opposed by some key factions.
Sadr on Saturday urged parliament not to approve the accord, and thousands of his supporters took to the streets calling for US troops to leave Iraq, while on Sunday leaders of Maliki's ruling alliance spoke out against it.

"There are positive points and others need more time to be discussed, and others need modification," the United Iraqi Alliance said in a statement.

Maliki has decided to postpone a visit to Australia next week to devote his time to the thorny discussions at home.
If a deal is not signed by the end of the year, Iraq may have to seek a fresh extension of the UN mandate to allow the continuing deployment of foreign forces.

US insists Iraq pact guarantees sovereignty

Propositions to survive repercussions of credit crunch in Iraq

Several experts in Iraqi economy believe that the repercussions of the current international financial crisis for the Iraqi economy will not be transient, citing the fall in oil prices.

During a Baghdad-based economic workshop on Sunday, the former minister of planning, Mahdi al-Hafiz, said that it is wrong to depend on oil revenues as the only source of national income.

Stressing the significance of reforms, Hafiz noted that it is necessary to turn to market economy, which he said is a worthwhile task that is necessary for change in the aftermath of the collapse of the former Iraqi regime.

Meanwhile, the chairman of the Iraqi Businessmen Union, Ragheb Rida Bulaybel, said that it is important to study the effects of the drop in international oil prices on the 2009 federal budget.

The current credit crisis, which most analysts link to the sub-prime mortgage business, has hit most of the world’s economies, particularly in the United States, Europe, Asia and the Middle East.

Propositions to survive repercussions of credit crunch in Iraq : Aswat Al Iraq

Higher demand for the dollar on Mon.

Demand for the dollar went up at the Central Bank of Iraq (CBI) auction on Monday, registering at $176.755 million, compared to $128.155 million in the previous session.

“The demand hit $33.755 million in cash, covered by the bank at an exchange rate of 1,180 Iraqi dinars per dollar; and $143 million in foreign transfers outside the country at an exchange rate of 1,177 Iraqi dinars per dollar,” according to a release issued by the CBI.

None of the 13 banks that participated in the session offered to sell dollars.

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

Higher demand for the dollar on Mon. : Aswat Al Iraq