Thread: Archive News - Iraqi Dinar Think Tank - 06/05/09 - 04/09/09

British company announced a significant oil discoveries in the territory of Iraqi Kurdistan

Heritage Oil said the British company for oil exploration on Wednesday it had found up to 4.2 billion barrels of oil in the Kurdistan region of Iraq and the announcement led to an increase in the company's shares 18 percent.

Heritage said in a statement that the field west of Miran can produce between ten thousand and 15 thousand barrels per day by the end of this year, and there are plans to transport oil from the region by truck to the field lines are linked to Iraq's export pipelines ..

Analysts hailed the disclosure and raised the price target for shares Heritage, in spite of doubts on the legality of the oil contracts on the Kurdish issue and the problems between the two governments in central Baghdad and Arbil, the regional.

Said Richard Griffith, oil analyst at Evolution Securities, "reports today means a radical shift to the Heritage."

And the passage of oil to be extracted from the Kurdish regions of Iraq through the rest of the access to export markets, the needs of the region that do not exceed a few thousands of barrels of oil per day, which would easily meet the current wells.

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European Union announces his departure to support Iraq politically, economically & security

Resulted in talks between a delegation from the House of Representatives and representatives of the EU Parliament on the agreement to strengthen cooperation and coordination, especially after the signing of the first cooperation agreement between Iraq and the European Parliament and the declaration of the way to Baghdad to support political, economic, and security.

The research, headed the delegation, First Deputy President of the Council of Representatives included Khalid al-Attiya, and Hadi al-Amiri, Alaa Makki, Falah Hassan Shanshal and Sami al-Askari, and we Yonadam Kanna, in addition to the gesture and Souad Bamarni Azad Omar, Adnan al-Jubouri, in a joint meeting with the delegation of the European Parliament, headed by Dan I, First Deputy Chairman of the Committee for Parliamentary Affairs in European Parliament, the situation in Iraq.

Attiyah confirmed Iraq's intention to consolidate relations between the two sides, praising the role of the European Union as the initiative in the formation of the Iraqi Friendship - European, especially the Baroness Emma Nicholson, which have made special efforts in this regard, and stressed "the necessity of activating the role of the Joint Committee between the House of Representatives and the Parliament EU to enhance communication between the two parliaments."

For his part, gave Dominique Potter of the European Commission report on the vision of the Office of the situation in Iraq, returned it as "the beginning of improvement is clearly in the country with the importance of overcoming the obstacles that hinder progress in Iraq, and the activation of the draft national reconciliation."

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The opening of the Brazilian embassy in Baghdad soon

said the Iraqi Foreign Ministry on the building near the opening of the Brazilian Embassy in Baghdad.

A source in the foreign office told the independent press (Iba) said Wednesday that the Under-Secretary for Political Affairs, Planning and bilateral relations, Lubaid Abbawi discussed with the Ambassador of Brazil in Baghdad Bernardo de Azevedo Brito building measures to open the Brazilian embassy in Baghdad soon after the completion of the technical matters.

The source quoted Lubaid Abbawi saying that "the Foreign Ministry is ready to provide assistance and opportunities for the Brazilian side in this regard", calling on Brazilian companies to contribute to the reconstruction of the infrastructure of Iraq.

Prieto also praised the visit of the Minister of Planning and Development Co-d. Ali Baban to Brazil and the fruitful results of the visit, which will open the doors of cooperation between the two countries in various fields.

They also discussed the visits to be undertaken by the prospective ministers of industry and minerals and of Tourism and Antiquities and Cultural to Brazil and successful ways.

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Parliamentary Economic Commission identifies a number of issues related to the outcome of the London

Established the Economic Commission of the House of Representatives in a number of issues related to the outcome of the London conference on investment.

A member of the Committee Deputy Yonadam Kanna, which we took part in the London to invest in Iraq that followed the results of the conference, announcing the intention of the Commission on the economy put bills in the House of Representatives for a vote soon.

He hoped that the laws approved legislation include the Commercial Bank of Iraq and antitrust, banking, insurance, stressing that the simplification of procedures, elimination of administrative corruption is a serious step by the economic decision based on a declaration in support of dozens of international companies to work in Iraq.

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Government pledges to provide facilities for foreign investors

Chancellor of the National Investment Bander Abdullah said the facilities and guarantees will be granted to foreign investors wishing to enter the Iraqi market.

Bandar said on the sidelines of opening ceremony of the Fourth Forum in Amman to discuss the allocation of investment opportunities in Iraq that the country has jobs and vast natural resources.

Calling Almsttmren to take advantage of investment opportunities in Iraq now and not wait because these opportunities were likely to recede after two or three, depending on the source.

For his part, revealed the Minister of Industry and Trade Amer Hadidi, Jordan on his country's intention to develop dignity of the border crossing after the opening of a free zone inside Iraq to meet the needs of the material should be considered together and exported, indicating that his country attached great importance to the reconstruction of Iraq.

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Zubeidi calls Rafidain to contribute in solving the country's housing crisis

Instructed the Minister of Finance Bayan Jabr to the general administration of the Rafidain Bank, overcoming all obstacles and workshops to reduce red tape in order to contribute to the completion of transactions as easy and auditors as rapidly as possible.

During the visit, stressing the Rafidain Bank on the need to use modern technology and the adoption of electronic methods, including saving time and effort in the daily business of the bank.

Zubeidi urged the bank during his administration to make efforts to contribute effectively to the solution of the housing crisis, a joint venture with the Land Bank.

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T. Boone Pickens Suggests US Should Demand Oil From Iraq

LAS VEGAS -(Dow Jones)- Oil magnate T. Boone Pickens, who has been calling for ending U.S. reliance on oil from unfriendly countries, on Monday appeared to suggest that the U.S. should not leave Iraq without a commitment for access to the country's oil.

"We should not leave Iraq without a call on the Iraqi oil," Pickens said at a clean-energy event sponsored by Senate Majority Leader Harry Reid, D-Nev. He said it would be easier for the Obama administration to ask to buy the oil than it was for the Bush administration, which launched the war in Iraq after claiming that the country possessed weapons of mass destruction.

"I don't see how the Iraqis could turn us down, I just don't," Pickens said. He said that the U.S. would pay market prices rather than fixed prices.

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Calls for investment strategy according to revenues

There is a need to plan Iraq’s investment strategy according to the country’s revenues, Abdullah al-Bandar, adviser of the National Investment Commission, said on Tuesday.

Al-Bandar also called to reform the Iraqi currency and financial policies.

“Reforms are still below ambition,” al-Bandar told Aswat al-Iraq news agency.

“There should be a fair distribution of revenues,” he said.

He pointed out that infrastructures in Iraq require huge amounts of funding.

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Invitation of the Congress of the Iraqi-Kuwaiti counterparts to cancel the debt owed by Iraq

It seems that the issue of debt to Iraq and Kuwait, which caused the creation of a wave of conflicting statements between the members of the parliament and the Iraqi Council of Representatives has begun to take another course is to remove the ice standing in the new relations between both Iraq and Kuwait, especially after he is convinced number of members of parliament that the issue of investment in Iraq is more effective than the debt freeze and remain in the field of deliberations between the corridors of the UN Security Council.

A member of the House of Representatives Abdelbari Zebari that "Iraq is now in the new circumstances, we believe there must be agreement on the decisions of the Paris Club to cancel less than 80% of the debt and receivables, as the fraternity brothers were in the United Arab Emirates and the European countries."

The Speaker of the House Iyad Samarrai, had been proposed in front of parliament during his recent visit to Kuwait in early July that "there is a draft of an agreement to invest in Iraq in exchange for waiver of the debt implications", which met the objections of a large number of members With parliament was welcomed by their counterparts in the Iraqi parliament, in a serious attempt to break the deadlock and the removal of obstacles to the most complex problems facing Iraq with Kuwait is the issue of debt.

He told Zebari (Iraq News) "The brothers in the State of Kuwait to follow the example of the brothers in the United Arab Emirates extinguish approximately 80% of the debt, then what is left of this debt is invested in Iraq," he said, "We as Iraqis, we consider This decision is very important for us, not only from the material side, but from the moral side of the Iraqis so that they feel part of this nation and this is the actual support that can be made by the brothers the brothers in Iraq. "

For his part, MP Hassan Rubaie said, "The debt issue is not resolved in a single proposal or one side, there must be agreement as well as to intensify contacts with the Kuwaiti side." He pointed out for (Iraq News) "It is important to reach a solution satisfactory to everyone and said we do not appreciate from here, ask them to waive the right thing are Iatbroh the Kuwaiti side, and they can not acquire the debt without an agreement with the Iraqi side .. On our part we can see that this problem must take a long time as well as discussions and reach a solution satisfactory to both parties. "

Kuwait and Iraq's debt to the tune of 30 billion dollars in compensation for the Iraqi invasion of Kuwait Center for the past with the United Nations added per 5% of the exports of Alinvtaerakip which were deposited in a special account to the United Nations.

Rubaie said that "the issue of investment has been put forward by the United Nations, shows that Kuwait had agreed to this proposal but the issue is not resolved with the consent of one party and must take advantage of this issue which Baeidp fabric Kuwaiti Arab brothers."

A number of deputies of the parliament agreed to the principle of waiver of the benefits provided to keep out of debt with Iraq.

Kuwait has always sought in the meetings of the Security Council and the General Secretariat of the UN to keep Iraq under Chapter VII, which Iraq is trying to get out of it to be able to manage money, foreign affairs and to drive it from the damages claimed by a number of countries, including Kuwait, which pledged the United States of America through the signing of the security agreement between Iraq late last year.

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