Iraq’s Kirkuk gets $65 million as part of share in oil royalties
The oil-rich city of Kirkuk has received more than $65 million (approx. 80 billion dinars) as part of its share from oil exports.
Under new Iraqi legislation, oil-producing provinces have the right to $1 from each barrel their oil fields export.
The sum was Kirkuk’s share for the past four months. The money should be used specifically for reconstruction and development purposes.
The central government has directly transferred the money to a commission implementing reconstruction projects in the province.
“We have formed a committee to identify the projects on which the money will be spent,” said Qassem Hamza, a senior provincial official.
It is the first time oil-producing provinces are given their share of royalties under the new regulations. Hamza said the sum represented Kirkuk’s share for the first four months of this year.
An Iraqi economist, refusing to be named, said the allocations were bound to reinvigorate the province’s economy “if spent wisely.”
More money is in the pipeline for Kirkuk. Last month, its prolific fields exported 13.347 million barrels. On average, Hamza said he expected about $15 million a month, barring negative price fluctuations on international markets.
The southern Province of Basra is by far the largest exporter in the country but the least developed.
Basra is expected to reap $50 million on average every month. The Finance Ministry is yet to issue Basra’s share for the first four months of this year.
Last month, Basra oil fields exported more than 45 million barrels a day, according to statistics issued by the Oil Ministry.
http://www.azzaman.com/english/index...06-26\kurd.htm
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Thread: Kurdistan Economy
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26-06-2010, 02:13 PM #111
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28-06-2010, 07:51 PM #112
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Chairman of Israel Corporation Visited Iraqi Kurdistan
Both KurdNet and Haaretz (citing original reports the French Jewish website JSS and Intelligence Online) say that Idan Ofer, the chairman of the Israel Corporation, visited Sulaimaniyah in Iraqi Kurdistan in May.
He is reported to have met with senior Kurdistani officials including Vice President Kosrat Rasul Ali, and Prime Minister Barham Salih. The visit was to show support for the Kurdish people and help develop economic ties between Kurdistan and Israel.
Ofer is said to be interested in investing in developing oil installations in Kirkuk, as well as building refineries along with European and Asian partners. Kurdish officials view worsening Turkish-Israeli ties as an opportunity to strengthen their relations with Israel.
Ofer’s spokesman said he does not comment on Ofer’s schedule or private affairs.
Israel Corp is Israel’s largest holding company and one of the top ten companies listed on the Tel Aviv Stock Exchange.
http://www.iraq-businessnews.com/?p=4927
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28-06-2010, 08:16 PM #113
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Kurdistan parliament ratifies 2009 budget’s final accounts
The parliament of the Kurdistan region ratified on Monday the final accounts of the 2009 budget, a member of the parliament said.
“The parliament ratified the final accounts with a majority of votes,” Suzanne Shehab told Aswat al-Iraq news agency, noting that the final accounts are being made within the first six months of the year.
http://en.aswataliraq.info/?p=133821
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29-06-2010, 01:47 PM #114
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Provincial Reconstruction Team in the American embassy
Kurdistan region of Iraq
For Immediate Release
June 28 2010
Ambassador Christopher Hill to visit the Kurdistan region of Iraq
Erbil - Ambassador Christopher Hill, U.S. ambassador U.S. to Iraq visit To Kurdistan region of Iraq during the period from 27 to June 28. Ambassador participated in the opening ceremony of the Erbil Emergency Hospital, which contributed to the U.S. government 12 million dollars for its establishment. The hospital was built in collaboration with the Kurdistan Regional Government. This project provides an additional 165 beds to serve nearly one million people in the city of Arbil and its environs. And will become the new emergency hospital 's main medical center In the field of services for emergency care.
Has delivered Ambassador Christopher Hill speech on this occasion which was attended by Dr. Barham Salih, Prime Minister of the Kurdistan region, and Taher Hawrami Minister of Health, and Sindi, Minister of Planning, And Falah Mustafa, head of the Department of Foreign Affairs of the Kurdistan Regional Government, and Nawzad Hadden, governor of Irbil, and a number of local officials. HE Ambassador "This project represents the type of friendship cherished by the American people for the people here in Kurdistan. A friendship that may have been born in times of very difficult, and continued through a long struggle, but friendship will last even in times of prosperity because, even though we are two peoples living far from each other but we live very close to each other in terms of our values and our vision to the world and should be done In the future."
It is worth mentioning that since 2003 The U.S. government spent more than 1.1 billion dollars in aid for development in the three governorates of the Kurdistan region of Iraq, and about 50 million of health facilities in the Kurdistan region of Iraq.
http://nahrain.com/d/news/10/06/100629ac.htm
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04-07-2010, 02:58 PM #115
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Kurdistan Regional Government of Iraq to negotiate the transfer of gas to Europe via the Nabucco pipeline project
Revealed the Prime Minister of the Kurdistan region of Iraq, Barham Saleh said the provincial government negotiating parties to the Nabucco pipeline project to join, and export gas to Europe.
He fit in an interview with "The Middle East CNN" believed that the Territory has huge quantities of gas between 3 and 6 trillion cubic meters, and these large amounts, and it needs the Nabucco project, and we believe that from the standpoint of strategic and economic, we must be part of this The project.
Saleh explained that the Kurds are trying to convince the Iraqi government to enter the project is also adding : "We are in negotiations on this matter and must not lose this opportunity to put Iraq and Kurdistan on the map of energy resources bound for Europe."
And stressed the right of Iraq's Kurdistan region constitutional negotiate with companies to invest his fortune in oil and gas, rejecting the positions of the government in Baghdad this file.
Saleh said : "We are confident that we act in accordance with the Constitution Butrotna oil, but we believe that the oil policy in place in Iraq currently is not successful, and we can raise production by one hundred thousand barrels a day, and double that number within a month, and this increases the revenue from the Iraqi government and therefore Should not politicize this issue."
He added: "The Constitution clearly gives a very territorial and his right to make decisions concerning oil and gas, and the decisions which we can dispose of their own issues are those relating to the sovereign."
Saleh said that the Kurdistan region is important for the economy and communication and has a lot of natural resources, indicating that the Territory 's economy activity, part of a stable Iraq and a door to investment in other parts of Iraq.
Saleh said he planned to work to transform the image of the Territory, which was seen as one of the causes of regional instability and convert it into an economic link between the neighboring countries, stressing that the local laws make it far from the area north of the headquarters in Iraq, an excellent investment, he said.
And the role played by the investments of Kuwait and the Lebanese, Saleh said: "We have an open investment environment and, for our investment law allows foreigners to own land and the transfer of profits abroad, as well as there are tax cuts for ten years."
http://www.radiodijla.com/cgi-bin/ne...?id=2010-07-02
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05-07-2010, 04:59 PM #116
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Turkey banks establish branches in Kurdistan
The President of the Bank of the Kurdistan region of Iraq, said on Monday that Turkey will establish three bank branches in the region, adding that preparations had been for this purpose.
"Said Adham Karim Darwish told Kurdistan News (Akaniwz)" The visit by the President of the Kurdistan region, Massoud Barzani , and before the former Prime Minister Barzani to Turkey, which resulted in the remarkable revitalization of commercial traffic between Erbil and Ankara ".. Noting that" it is possible to see the most effects of this activity in the banking industry."
Darwish noted that "the Turkish trade delegation that visited the region a few days ago, which included representatives of three big banks, Turkey, and representatives have decided to open a branch of their banks in the region."
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06-07-2010, 12:31 PM #117
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Kurdistan is intended to link with banks in the world online
The head of the Central Bank of Iraq's Kurdistan province, Monday, the banks, the region will be linked with banks across the global electronic banking system in the near future, pointing at the same time that the four banks currently operating in accordance with the new system.
"Said Adham Karim Darwish told Kurdistan News (Akaniwz) "The electronic system is very advanced and global, basically invented a British company, and tested on four banks successfully, until now, "had" but we dealt with the company for the Lebanese."
He explained that "this system includes several services, as a service (ATM)", pointing out that "services will increase stage by stage, because it can provide all the services."
Darwish said that "the system can link all the banks in the region with some of them, also provides citizens with the possibility of withdrawing their money in any part of the world as it is linked system of international banks," noting that "the region will enter into the world order."
He continued by saying "even if this system is not completed at the end of this year, it is necessary to understand the citizens."
The 81 banks and 53 government waged, in the Kurdistan region, four banks are the main branches of civil, while the rest are branches of the secondary.
http://www.aknews.com/ar/aknews/2/161546/
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08-07-2010, 12:13 PM #118
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Kurdistan International Bank contract with a Kuwaiti company to use technology in private banks
Kurdistan International Bank contract with a Kuwaiti company to implement the project on the use of electronic means in private banks, the Kurdistan Region to provide facilities to the citizens of the region.
Site Patriotic Union of Kurdistan said in a press statement that the new system will come into effect soon and the citizens can handle their money easily through the system to take advantage of electronic banking practice across the world.
The federation cited a spokesman for the Kurdistan International Bank as saying that the system followed in Iraq and the Kurdistan Region for the first time, initiated the Kurdistan International Bank in the introduction of this system to the region where the Kuwaiti company for the introduction of the system and electronic apparatus.
http://radionawa.com/Ar/NewsDetailN....851&LinkID=155
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11-07-2010, 01:33 PM #119
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Ethnic and sectarian violence hits Iraq’s oil-rich Kirkuk
wave of violence is sweeping Iraq’s Kirkuk, targeting Arabs and ethnic Turks in the oil-rich city.
Scenes of corpses dumped on the streets and open spaces in residential neighborhoods have returned to the city, prompting Arab and Turkmen leaders to call for the formation of vigilante groups for protection.
The violence seems to be organized as its victims are none but Arabs and Turkmen.
“We demand the formation of a joint Arab and Turkmen force … to protect the Arab and Turkmen ethnic groups whose members are continuously the target of abduction, killing and assassination,” said Mohammed al-Jibouri, head of the Arab group in the city.
Jibouri indirectly blamed the Kurds the for latest upsurge in ant-Arab and anti-Turkmen violence, urging the government to let Arab and Turkmen armed militias serving in provincial cities and villages to enter Kirkuk.
“We are aware of who is in charge of the security file” in the city of Kirkuk, said Jibouri in reference to the Kurds.
“We cannot trust the security organs (in the city). Terrorism against us continues and there is no one to be held accountable,” he said.
Jibouri asked the government and the Interior Ministry to launch an independent investigation to bring those behind the violence to account.
“Today we plead with the state and the Ministry of Interior to set a neutral commission to investigate the security events,” he added.
Kurdish militias and their multifarious security organs are practically in control of Kirkuk.
There are more than 100 non-official headquarters manned by Kurdish security agents and armed militias belonging to the two major Kurdish political factions of Massoud Barzani and Jalal Talabani, according to Jibouri.
Barzani, who is head of the Kurdish regional government, leads the Kurdistan Democratic Party and Talabani, who is the Iraqi president, heads the Patriotic Union of Kurdistan. Both factions have armed wings with tens of thousands of militias locally known as peshmerga.
Jibouri said it was time the government deployed units from the Iraqi Army in the city.
He said as U.S. troops were preparing to leave, the presence of Iraqi armed forces in Kirkuk was essential. The Kurds have blocked attempts by the government to deploy Iraqi troops in the city.
“We demand the presence of Iraqi troops in Kirkuk since we have reached this dangerous situation and before the departure of U.S. troops,” Jibouri said. “We need to protect our people since there is no let- up in operations of murder and kidnapping and there is no one to blame.”
“Our leaders, our sons, our police officers, our civil servants all have become victims as a result of the conditions we are in and there is no one to heed our complaints,” he said.
http://www.azzaman.com/english/index...07-09\kurd.htm
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11-07-2010, 01:38 PM #120
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Saleh and Odierno discuss the situation in Kurdistan
Search the Kurdistan Regional Government, Barham Salih, the commander of U.S. forces in Iraq, General Ray Odierno, the unification of the Kurdistan Peshmerga forces guards "territory" as part of the system of national defense and the role of U.S. forces in the unification process. According to an official statement said that Saleh and Odierno also discussed the "security and protection of the borders of Kurdistan, especially the common border with Iran and Turkey, and stressed the need to respect the independence and sovereignty of Iraq within the framework of laws, decrees and international conventions."
The statement said the Prime Minister of the province and the commander of U.S. forces "discussed steps to form the next government," emphasizing "the necessity of forming a government under the Constitution and the involvement of all walks of life, respect for constitutional deadlines and the need to treat all sides in a spirit of national and away from the narrow interests in relation to the formation of the government".
http://www.uragency.net/index.php?aa=news&id22=9266
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