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

Nippon Oil, Inpex Team Up For Iraq Field Bid-Sources

Japan's Nippon Oil Corp. has joined forces with Japanese-government-backed Inpex Corp. and possibly with JGC Corp. of Japan to bid for Iraq's Nassiriyah oil field, Iraqi sources familiar with negotiations ...

http://online.wsj.com/article/BT-CO-...06-703550.html

Total, Chevron Preparing Joint Bid for Iraq Oil Field Rights

Total SA and Chevron Corp. will bid together for oil development rights in Iraq as firms search for new crude supplies and the Middle Eastern country looks for investors to pump cash into its economy.

Iraq, holder of the world’s third-largest oil reserves, is running two bidding rounds to attract investors after six years of conflict and prior sanctions destroyed infrastructure. Last year it pre-qualified 35 international companies to take part in the sales and added nine more to the list this month.

“We are preparing our response to the first bidding round and we are together with Chevron,” Yves-Louis Darricarrere, Total’s president of exploration and production, told reporters in the Ras Laffan industrial city north of Doha today.

He declined to comment on whether Total, Europe’s third- largest oil company, had been invited by the Iraqi government to bid directly for the Nahr Bin Umar field, as reported by Reuters earlier. He declined to name the fields Total and Chevron, the second-biggest oil producer in the U.S., aimed to bid for.

Oil companies are set to submit bids for fields in the first round in June and the Iraqi government may decide on the winners in “days,” according to Ladislas Paszkiewicz, Total’s president of exploration and production in the Middle East. Iraq aims to award the field development rights by the end of June.

The Iraqi government is still working on the final contract model for the field developments, Darricarrere said. The government may give oil companies 75 percent stakes in the developments after a fall in oil prices cuts its own ability to invest, Oil Minister Hussain al-Shahristani said in January.

The country aims to boost oil output to about 6 million barrels a day by 2015 from about 2.5 million barrels now as production ramps up after the license bidding rounds.

http://www.bloomberg.com/apps/news?p...a8AMM&refer=us

Iraq: It's Time For You To Take Over, Obama Tells Iraqis On Secret Trip To Baghdad

BARACK Obama made his first presidential visit to Iraq yesterday (Tuesday) with surprise trip in which he urged Iraqis to take responsibility for their nation as thousands of US forces prepared to leave and hand over control.

His comments came as General Ray Odierno, the top US commander in Iraq, hinted that combat troops might have to stay longer than a June 30 deadline in two particularly volatile cities because of continued violence.Hoping to get a better perspective on a war he opposed and has pledged to end, the President touched down at Baghdad airport at the end of a fivenation tour of Europe and Turkey.

His arrival came hours after a car bomb exploded in Baghdad, killing nine and wounding 20 - a grim reminder of the difficult task he faces leaving Iraq a secure country within the timeframe he has proposed.

"This is going to be a critical period, these next 18 months," the President told hundreds of excited US soldiers at a sprawling military base adjacent to the airport. He has pledged to withdraw all combat forces from Iraq by August 2010.

"You will be critical to make sure Iraq is stable, that it is not a safe haven for terrorists, and we can start bringing our folks home," he said, addressing the crowd from a stage.

Many of the 600 US troopers cheered their new Commander-in-Chief and took photographs. One soldier shouted: "I love you." The President responded: "I love you back."

Mr Obama praised the military for giving Iraq the opportunity to stand on its own as a democratic country. "It is time for us to transition to the Iraqis," said the President, who also received a briefing from General Odierno. "They need to take responsibility for their country."

Under an agreement between Washington and Baghdad US combat forces are due to pull out of Iraqi cities to bases outside of town by the end of June. Mr Obama also wants to withdraw most US combat troops completely by August 2010, beginning slowly to help to maintain stability in Iraq before a general election due by the end of the year or early next.

The exit will accelerate after the polls, seeing troop numbers fall from 140,000 to about 50,000 by August 2010. They too must leave by the end of 2011. Any exit will be held fortune to conditions on the ground as neither Iraqi leaders nor US commanders want to create a vacuum for militant elements to exploit.

General Odierno, in an interview with The Times before meeting Mr Obama, said that he felt confident about pulling his troops out on time from Iraq's cities, apart from Mosul, in the north, and Baquba, to the northeast. Both cities still harbour al-Qaeda fighters and remain volatile. "Are the Iraqis really ready to resume complete responsibility inside Mosul?" he asked. Expressing similar concern about Baquba, he added: "We will conduct assessments when the time is right."

Any decision to extend the combat presence, however, would need to be sanctioned by Nouri al-Maliki, Iraq's Prime Minister. Mr Obama assured him that he plans to stick to his departure timetable despite a recent rise in violence. On Monday at least 37 people died in a string of co-ordinated car bombings blamed on al-Qaeda. Another 140 people were wounded.

In a curious change of schedule, plans for Mr Obama to visit the fortified green zone in the centre of Baghdad to meet the Prime Minister were scrapped because of weather. A sandstorm meant flying by helicopter was too risky but it was unclear why Mr Obama could not make the journey by road - something officials usually do when air transport is cancelled. Instead, Mr al-Maliki drove to Camp Victory for the meeting, limiting Mr Obama's exposure to the potential for being caught up in another car bomb. After the talks, the President said he had told Mr al-Maliki that the United States had "no claim on Iraqi territory and resources". He added: "The drawdown will ultimately result in the removal of all US troops by 2011."

Such a commitment has ensured that Mr Obama is far more popular in Iraq than his predecessor, whose final visit to Baghdad will be marked forever by the image of an angry Iraqi journalist throwing his shoes at him. Ali al-Dilemi, 37, a communications engineer, urged the new President to stick to his exit plan and applauded him for having a much a better understanding of Arabs than George Bush.

Mr Obama chose Iraq for his first visit to a conflict zone as Commander- in-Chief despite switching US priorities from Iraq to Afghanistan. The four-hour visit, after which he returned to Washington, was made easier because he was already in Turkey.

COPYRIGHT - THE TIMES, LONDON

http://www.zawya.com/Story.cfm/sidTI...Tells%20Iraqis

A significant decrease in the sales of the bank's dollar

decreased sales of the Central Bank of Iraq in the dollar on Wednesday after the auction total price of the auction, the bank Mapall 84120000 dollars.

The daily bulletin of the bank received by the independent press (Iba) today, said the sale price of the money settled on the (1173) dinars to the dollar, including the commission of the Central Bank in the amount of (3) dinars per dollar, and the cash sales price (1176) dinars to the dollar, including the commission of the Central Bank in the amount of (6) dinars per dollar, and the quantity sold, the amount of cash (31.020,000) dollars and the amount of remittances (53100000) dollars.

The bulletin said the price basis, which won the auction for sale 1170 dinars to the dollar, and the number of banks contributing to the auction

(12) banks.

The Central Bank shall receive a commission of $ (3) dinars per dollar on the amounts purchased

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Symposium on Iraq’s membership in WTO

The Iraqi Trade Ministry on Wednesday held a symposium in Baghdad on Iraq’s membership in the World Trade Organization (WTO) which embraced researches and studies related to this membership, related to the fields of economy, trade, agriculture, and industry.

“Minister Abdulfalah al-Sudani attended the symposium,” the ministry said in a release received by Aswat al-Iraq news agency.

“Iraq’s economy requires short and long term reformations,” the release quoted al-Sudani.

“Iraq seeks to negotiate that membership in the WTO to be open to the world,” he added.

http://en.aswataliraq.info/?p=111261

NATO looks forward to memo with Iraq

During a meeting with Iraqi President Jalal al-Talabani today, NATO Secretary General Jaap de Hoop Scheffer expressed the organization’s keenness to sign a memorandum of cooperation with Iraq, according to a presidential statement.

“President Talabani highlighted NATO’s role in training Iraqi security forces and improving their performance in order to face up to the responsibility placed on them with regards to fighting terrorism and establishing security and stability,” read the statement that was received by Aswat al-Iraq news agency.

Scheffer said that the organization is looking forward to constructive dialogue with Iraq, stressing its keenness to sign a memorandum of cooperation with Iraq, which he said will enable Iraq to face security challenges.

The meeting was attended by Foreign Minister Hoshyar Zebari and the head of the presidential office, Nasseer al-Aani.

http://en.aswataliraq.info/?p=111260

Iraq ranked first in the real estate investment sector in Jordan

Iraq was the size of the investment in the real estate sector in Jordan, more than 25 million dollars during the first quarter of this year, followed by Saudi Arabia in second place and the UAE.

Riyadh al-Safadi, owner of a real estate sales offices in Amman, said the Iraqi investment in land and apartments occupy the first place in the past few years to see a decrease and then the investor is Saudi Arabia and Kuwait the first place.

Safadi said that the latest facilities granted by the Jordanian authorities to the Iraqis the right to have more than a flat surface replacement in Jordan rose again and the value of Iraqi money in real estate again.

According to the report of Kuwait occupies first place in terms of the number of investors in the real estate sector, but that Iraq is ranked first in terms of value.

http://209.85.227.132/translate_c?hl...V6ne8Mjfkrivvw

Trade Minister: we seek to increase the volume of trade exchange and economic cooperation with Vietnam

Abdel Falah Hassan, the Sudanese Minister of Commerce that his ministry is for the supply of foodstuffs from Vietnam impulse, especially sugar, tea Pmaada addition to the possibility of supply of private cars of staff distributed convenient installments.

This came during a meeting with Sudan's Personal Envoy of the Prime Minister of Vietnam and a group of Vietnamese companies looking to invest in Iraq and access to different sectors of Iraq.

The Sudanese that Iraq is seeking through the Iraqi-Vietnamese economic relations and trade between the two countries and promoting development in various areas and help to increase the volume of trade exchange to a wider range to be an important partner of Vietnam in Iraq, especially since there is a wide ground for cooperation and coordination between the two countries.

"Iraq needs the capacity of Vietnam in the areas of supply of food and cars to assist in Iraq's accession to the World Trade Organization has been helping an elderly Vietnamese in the first round with the organization and this confirms that the relationship between the privileged relationship Albuldbn can take great strides forward."

He pointed out that Iraq is the beginning of major steps forward in the liberalization of its economy, which was dominant for the purposes and intentions of personality after he was administered by the State away from the role of the private sector started to take its natural role in the formulation of economic policies.

The representative of the Prime Minister Afattname confirmed that Vietnam is ready to cooperate with Iraq in the absolute areas of reconstruction and investment in addition to the possibility Vietnamese companies to participate in various architectural projects in addition to the desire of the Prime Minister of Vietnam to begin a new chapter of cooperation and coordination to serve the two countries and enhance mutual relations in various fields.

He pointed out that Vietnam is seeking to increase the volume of bilateral trade and economic, which is currently Mtendep levels and there is a desire to improve for the better and through the common ground and the desire of the leadership of the two countries to move beyond the era of the past and move towards the better.

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The Oil Ministry has denied the cancellation of the fuel card

Ministry denied fuel oil to cancel the card, which adopted by the equitable distribution of oil and its derivatives among citizens.

The media source in the ministry that the ministry did not cancel the card, a fuel made by the Ministry for the safety of the equitable distribution among the citizens of oil derivatives. The source added that a freeze on the fuel card to provide Alocodp significantly. Adding that he will be working again in the event of a lack of surplus oil.

The Oil Ministry has said the discontinuation of the time the fuel card in the past few months by the presence of a large surplus in petroleum products and adopted the direct sale of all petroleum products.

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Association welcomes the decision of Iraqi banks for the Committee on Economic Affairs

Association of Iraqi banks were considered the decision of the Special Committee on Economic Affairs of the Council of Ministers, which allowed the opening credits of the ministries at the banks and raising the eligibility ceiling for a credit support to the banking sector by sector.

The E.xecutive Director of the Association of Abdul Aziz al-Hassoun, told a news briefing on Wednesday that the decision to the Economic Commission aims to achieve an integrated policy for the banking sector to keep pace with the movement of construction and reconstruction in Iraq.

The decision of the Committee on Economic Affairs at the time there is concern the eligibility of the banks 31 banks, as a result of the leaks to the instructions issued by the Ministry of Finance to prevent the state's departments of all of them open a bank account to the private banks, the crisis caused by banks that have accounts and ministerial, after quickly ministries to withdraw money to an abrupt end by the instructions.

Hassoun said that the instructions of the Ministry of Finance had negative reactions to the Iraqi banks, which it considered inconsistent with the decisions of the Committee on Economic Affairs, with the opening of the accounts of the civil government to the banks and banks like to deal with the government.

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