Thread: Archive - Latest News Think Tank - 15/01/09 - 04/05/09

Iraq MPs to resume held up budget vote

Khaled al-Attiya, the parliament’s first vice-president said that the Members of Parliament will resume next week the process of approving 2009 Budget in spite of failing to elect a new House Speaker and stressed that the parliament will not take any vacation before ratifying the budget.

http://www.alsumaria.tv/en/Iraq-News...dget-vote.html

Shahristani denied the eligibility of companies setting the prices of gas

Denied, and Oil Minister Hussain al-Shahristani, news of the eligibility of the investment companies that have been recently contracted with them to identify the quantities or prices of gas.

He described al-Shahristani told a news briefing on Friday that the publication of the work of those companies like the work of the oil refineries that do not interfere in determining the price of oil.

He pointed out that the price of oil and its derivatives to be determined by the Ministry of Finance and approved by the Iraqi parliament.

It should be noted that the Ministry of Oil has entered into a contract for natural gas worth billions of dollars through a joint project of the South Gas Company of Iraq and Royal Dutch Shell, Deutsche addition to Mitsubishi.

http://209.85.133.132/translate_c?hl...y_fcazjYfvCEzg

Central to sell 548 million dollars at the exchange rate stable for the fifth consecutive week

the volume of total demand for the dollar in the meetings of the Central Bank of Iraq this week to 548 million dollars, and a stable exchange rate for the fifth consecutive week at 1170 dinars per dollar.

The total sales during this week, the central 548 million and 720 thousand dollars, was the basis of the exchange rate of 1170 dinars per dollar, by holding an auction of five meetings during the week.

With sales in the Central last week was 662 million and 20 thousand dollars at the exchange rate was 1170 dinars per dollar.

The adviser said the appearance of the Central Bank of Iraq, Mohamed Saleh, told Voices of Iraq (VOI) that "the stability of the exchange rate for the fifth consecutive week due to declining world prices of imported goods," which would "give the value of the Iraqi dinar against the dollar even if he did not raise the value."

The chancellor blamed the decline in the volume of aggregate demand to "approve this week with the pilgrimage, especially during the Sunday and Monday as the most economic Ahat stopped falling demand for the dollar in the auction."

Iraq had witnessed the revival of pilgrimage which has been described by observers as the biggest in the country, where hundreds of thousands flocked to the city of Karbala from all over the country and foreign countries, which include the Shrine of Imam Hussein bin Ali, the third Almasomin imams at Shiite Muslims, which was approved on Monday the memory of the head with the heads of his family and his companions who were killed with him in a gentler in 61 e, from the Syrian city of Damascus to the holy city of Kerbala in southern Iraq.

And distributed on demand cash sales total of $ 58 million and 870 thousand dollars at the exchange rate was 1176 dinars per dollar, which includes the commission of the Central Bank amounting to six dinars per dollar.

While foreign remittances recorded a size of the request amounted to 463 million and 700 thousand dollars, and the exchange rate was 1173 dinars per dollar, inclusive of the commission of the Central Bank amounting to three dinars per dollar.

The daily demand rate of decline from last week, reaching 109 million and 744 thousand versus $ 132 million and 556 thousand dollars during the four sessions were held only last week.

The week witnessed the disparity in the volume of applications to buy the dollar during the course of the auction, which reported a meeting on Sunday (2-15) less the volume of demand during one meeting was 41 million and 315 thousand dollars, while Thursday's meeting (2-19) during the peak demand one meeting was 164 million and 460 thousand dollars, and there is no record of the meetings this week of the auction bids for the sale of the dollar by the banks to contribute to the auction.

The central bank held an auction of five meetings a week from Sunday to Thursday for the sale and purchase of foreign currencies, and receive a cash commission on the sale of six dinars per dollar, and receive a commission of three dinars per dollar on the sale of remittances outside the country.

http://216.239.59.132/translate_c?hl...wuPydL2NtPQFPA

The United Nations is seeking to lift all international sanctions imposed on Iraq

Decision that the United Nations next month, a report on the many positives of the situation in Iraq, including the lifting of all sanctions imposed on the country.

Sources close to the government about the presence of positive signals confirmed by the UN Secretary-General Ban Ki-moon during his recent visit to Baghdad, near the lifting of all sanctions on Iraq.

The Ban Ki Moon visited Baghdad this month, and it was announced following a meeting with President Jalal Talabani and Prime Minister Nuri al-Maliki, the organization's intention to review all the resolutions imposed on Iraq since 1990.

http://translate.google.com/translat...1%252008:09:14

Chinese official disclosed some details of agreement for implementation of Iraq's draft oil Ahdab

A project manager Ben Jank Ahdab oil field in Wasit province, some of the details of the agreement on Iraq's implementation of the project.

He said in an interview with Ben reporter that China will manage the project for 23 years by virtue of the employment contract, which is a partnership and not to investment.

He added that the partnership is very different from other contract where the benefits of the production company working in the implementation of the project, very few are obtained after the production processes.

Adding that China will pay all costs of the implementation of the project for a period of 3 years after the project, which will start producing oil.

Noting that it would cut benefits by a few of the production, Ben refused to address this percentage, but he stressed that the state insisted on the implementation of the project because they have ambitions of old sought Especially after the large number of foreign companies that Thavtaat for the knots, he said

The Ahdab Hosseinieh located in the northern city of Kut, Wasit province (180 km) southeast of Baghdad

http://66.102.9.132/translate_c?hl=e...E0aUlXAOvJBo8g

Media consultant denies Samurai win the post of parliament speaker

Denied media advisor to the First Deputy Speaker of the House and Sam Zubeidi Iyad Samarrai, the victory of the post of speaker of parliament.

Zubeidi said in press statements that the First Deputy Speaker of Parliament, Khalid Al Attiyah had the adjournment of the meeting last Thursday to a lack of choice of the President of the Parliament.

He said what he said the Accordance Front spokesman Salim al-candidate won Iyad al-Samarrai, however, interpreted the constitutional Front victory in accordance with article 12 of the Rules of Procedure of the House of Representatives.

Zubaidi said that the Iraqi constitution stipulates that the winner of the post of speaker of parliament be obtained 138 votes, adding that the Presidency of the Council had challenged the jurisdiction to the Federal Court to appeal to article 12 of the rules of procedure which remain outstanding so far.

http://translate.google.com/translat...kieSupport%3D1

The private sector and its role in the investment process

In light of the discussions that took place during the symposium held by the National Authority for Investment on Saturday 2009/2/27 conferees reached the following recommendations:

First: the adoption of the information base and the potential investment and activities provided by the economic organizations and private members of these organizations, investors and businessmen in the Iraqi mind the investment opportunities and are promoted by investment bodies and this includes the old pre-existing projects and new investment projects to be established recently.

Second: the Commission decided to approve the documentation of all participants and the cooperation of investment contracts to be concluded between the investor and the investor of Iraq to ensure the rights of foreign investors and businessmen in Iraq until the creation and presentation of documents and the documents required from both sides under the Investment Law No. 13 in order to obtain the investment and then leave to start in the creation of the post - investment project.

Third: the Commission decided to convene a conference in a number of ministries that have a direct relationship to the law of investment and the most important (and the municipalities and the Ministries of Finance and Industry) and in the presence of a large number of businessmen and economic organizations that deal with the private sector to discuss the mechanisms and ways to overcome all the obstacles that prevent the direct and start investing in Iraq.

Fourth: the body and after the investment conference that year in the above paragraph of the declaration of a monthly investment conferences and specialized for all types of investment in Iraq.

Fifth: The Commission agreed to convene a meeting of economists in the embassies located inside Iraq and in the presence of representatives from business and the Iraqi private sector to coordinate the meetings and conferences between the multi-Iraqi investors and investors from outside Iraq to support investment in Iraq and increase the access of the Iraqi private sector partnerships for investment projects inside Iraq, together with Arab and foreign company with great potential and broad experience.

VI: The Authority in coordination with the economic attaché in the Iraqi embassies outside Iraq to be like a suit of marketing and investment promotion and attracting investment to Iraq by supplementing the existing Iraqi businessmen and their counterparts abroad and their accomplices in all the information and data on investment opportunities in Iraq.

VII: The National Authority for the translation of investment investment law No. 13 of 2006 for a number of foreign languages besides the English language to promote this law and to assist and facilitate access to investment opportunities in Iraq for investors from these countries and the possibility of entry of the Iraqi private sector partnerships with these investors.

* Member of the National Authority for Investment

http://216.239.59.132/translate_c?hl...3xTIMQvExcGO3g

Baghdad is serious to sign economic agreements with Syria, ambassador says

Iraqi ambassador in Syria Ala al-Jawadi stressed Iraq’s wish to sign economic agreements with Syria, including an oil pipeline linking Kirkuk oilfield to a Mediterranean terminal and developing an Iraqi gas field near Syria.

"I expect substantial progress. What I heard directly from the leadership of my country is that Iraq is serious and ready to remove the obstacles standing in the way of these two strategic projects," during an interview told Reuters.

It is worth mentioning that al-Jawadi, who is Iraq’s first ambassador to Syria in almost 30 years, presented his credentials to President Bashar al-Assad a few days ago.

http://pukmedia.com/english/index.ph...=9440&Itemid=1

Iraq To OK Foreign Oil Co Majority Deals - Officials

After months of meager progress and a big drop in crude prices, Iraq is now planning to allow foreign energy companies to hold as much as 75% in oil drilling projects, an Iraqi Oil Ministry official and oil company ****utives said Thursday.

The Iraqi oil official said the more than 75% drop in oil prices since autumn - when the country unveiled its original plans - helped cause the policy shift, which will mean higher profits for foreign companies working in joint-ventures with the government than originally expected.

"There is no option for us but to do that in order to attract international companies to start developing these fields," the official said.

The government plans unveiled in October for the country's first oil licensing since the end of the U.S.-led war in 2003 would have permitted companies just minority stakes of up to 49% in any joint-venture with the government.

Companies, however, still won't be permitted to book oil reserves under any of the future deals in a sign of the government's intention to keep a tight grip on Iraq's hydrocarbons and contracts will be signed under less lucrative service contracts.

Oil reserves are the key assets that major oil companies like Exxon Mobil Corp. (XOM) are graded on by investors as indicators of future growth potential.

"It's not ideal there wasn't movement on (the contract basis), but at least there is movement toward more incentives for companies," said an official with a U.S. oil company.

Like all oil producing nations, Iraq's central government has come under financial strain from the fall in crude prices. The reduced oil income for Baghdad has squeezed spending on oil field maintenance and other activity crucial to boosting crude production and oil revenue vital to bankrolling the ongoing reconstruction process.

The government is hoping to have several deals in place with foreign companies by the end of June on six oil fields and two natural gas fields, with work starting in late 2009.

Officials said the policy shift followed a three-day meeting last week in Istanbul between Iraq oil ministry officials and ****utives of 32 oil companies, including Royal Dutch Shell PLC, BP PLC (BP) and Chevron Corp. (CVX).

The initial model contracts, which are expected to run for 20 years, stated that winning companies will receive remuneration in kind for each produced barrel as well as cost fees.

The producing oil fields in questions are Kirkuk and Bai Hassan in northern Iraq, West Qurna-1, North and South Rumaila, Zubair and Missan in southern Iraq. The two non-producing gas fields are Akkas in western Iraq and Mansouriya in the center.

Baghdad hopes contracts for the fields will help boost the country's crude production capacity to 4.5 million barrels a day by 2012 from 2.4 million barrels a day now.

http://www.easybourse.com/bourse-act...ficials-620079

President Jalal Talabani arrives in South Korea

As a response to a formal invitation by the South Korean President Lee Myung-bak, a high-ranking Iraqi delegation headed by President Jalal Talabani arrived in South Korean capital, Seoul on Monday, Feb 23 and was received by the minister of economy in S. Korea and Kurdistan Regional Government Prime Minister Nichervan Barzani who arrived there on Sunday and a number of the Korean officials.

President Talabani will hold formal talks on the bilateral relations between Iraq and Korea and the ways of promoting them to serve the interests of both countries in addition to other issues like the Korean participation in rebuilding Iraq and developing its economy.

http://pukmedia.com/english/index.ph...=9479&Itemid=1