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

Interesting,

It is about time they move against this obvious obstacle in passing of oil law. He has been creating issues with Kurdistan region which has been moving forward on oil contracts for the better of all of Iraq from very start. They should be commended for what they have accomplished, yet al-Shahristani has been constant obstacle in Iraqi progress towards being the largest oil country in middle east.

As we have all seen, al-Shahristani has been creating issues with Kurdistan from start, and it is obvious he is playing the sectarian issue to his advantage, so it is about time to investigate his motives. One thing for sure, if he is removed as oil minister, we will all be better off, Kurdistan, Bagdad and all of us. lol

Success to all, Mike

Iraq issued treasury bonds worth three billion dollars

Iraqi government on Sunday decided to issue treasury bonds worth a total of three billion dollars in an interest rate of two percent for the majority of the Ministry of Electricity, as well as financing of water projects and railways.

A government statement said the cabinet agreed to by the Ministry of Finance issued treasury bonds by two to four-hundred million dollar interest rate of not less than 2% of maturity from the date of the IPO.

He explained that the Ministry of Finance to allocate the corresponding value of the bond allocation from the Ministry of Electricity within the public budget in 2010 that the House of Representatives was the purpose of validation.

The power rationing in Iraq as a result of a chronic limitation and intermittent wars and the international embargo that was imposed on the country.

Government also agreed to "authorize the Ministry of Finance issued treasury bonds of $ 600 million to finance water projects and railways is not an interest rate of less than 2% to be paid one year after the date of the IPO."

The ministry will be "the amount allocated in the budget year 2010 to be presented to the parliament for ratification."

http://209.85.229.132/translate_c?hl...DLDuxAm_GaS4iQ

35 percent tax on foreign oil companies in Iraq

The Iraqi Cabinet approved a draft law on the subject all foreign oil companies for income tax of not less than 35 percent.

He said Iraqi government spokesman Ali al-Dabbagh said on Sunday that it has become the procedure now requires the approval of Parliament.

Iraq has the third-largest oil reserves in the world, which seeks to attract major international energy companies to compete for major contracts for oil and gas in the country.

http://209.85.229.132/translate_c?hl...zFfrEemenYi32g

Deputy: questioning the Minister of Trade was objective and not political

MP Sirwan Zahawi Alliance of Kurdistan, on Sunday, said the questioning of Minister of Commerce by the Chamber of Deputies was the objective did not take a political dimension, adding to the difficulty in predicting the decision to be taken by Parliament after the conclusion of the questioning.

The Zahawi told (Voices of Iraq) that "the discussions today was calm and did not take a political dimension, but has a substantive dimension." Zahawi ruled that "the decision is taken by the predictability of the House of Representatives after the completion of the interrogation process, because this matter is left to the conviction of members of the House of Representatives."

Ocharalzhaoi and that "Kurdistan Alliance members to leave the freedom to vote in the case of Minister of Trade and they will not impose a particular decision."

The Iraqi parliament held its usual Sunday, led by its president, Iyad al-Samarrai and the presence of the Minister of Commerce to complete the questioning, which appeared at the meeting on Saturday, against the backdrop of "interest to financial and administrative corruption." Addressed to the ministry of the Integrity Committee in the Parliament.

http://209.85.227.132/translate_c?hl...oaW4Sfu1yUSzdQ

Complete the questioning of Parliament, Minister of Trade and Saedi, had submitted a request for dismissal

MP, said the Iraqi Accordance Front, Salman Jumaili, Sunday, that the House has completed its questioning of Minister of Commerce, noting that the Chairman of the Integrity Commission Sa'idi morning submitted a request for dismissal, and are now collecting signatures for a vote of no confidence on the Minister.

He Jamili told (Voices of Iraq) that "the process of questioning and the Minister of Trade ended Sunday afternoon," he said, that morning, Saadi and Deputy Chairman of the Parliamentary Integrity Commission, "the minister was not convinced of answers submitted a request to the Presidency for a dismissal of the minister from office."

He added that "the House of Representatives is a campaign to collect signatures to present the subject of impeachment in the House of Representatives after a week." He pointed out that "the request of impeachment must be signed by the vice-50 that is displayed on the request of impeachment in the House of Representatives after a week of the process of questioning the minister."

He said a "request for dismissal if a simple majority, said the minister from office."

The Iraqi parliament held its usual Sunday, led by its president, Iyad al-Samarrai and the presence of the Minister of Commerce to complete the questioning, which appeared at the meeting on Saturday, against the backdrop of "interest to financial and administrative corruption." Addressed to the ministry of the Integrity Committee in the Parliament.

http://209.85.227.132/translate_c?hl...5ustaV2BTSwEvg

Blue: oil and gas law will be to the government because of differences

Chairman of the oil and gas in the House Blue Hussein that Iraq still needs a lot of time to set up installations and gas pipelines to carry out the export of gas to EU countries.

He told the Blue PUKmedia Monday 5-18 "that the law of oil and gas will be returned to the cabinet because there are differences on the annexes of the law."

http://209.85.227.132/translate_c?hl...uXCkZyrI49m9gg

The conclusion of the World Economic Forum on the Middle East

Concluded the work of the World Economic Forum on the Middle East, which was held over three days in the Barn on the west shore of the Dead Sea, Jordan with the A and Thelatmip person

Eighty of the country such as Iraq and a large delegation at the conference was chaired by Vice President Dr. Adel Abdel Mahdi. :........ With this report and said that Vice President Dr. Adel Abdul-Mahdi also said that Iraq's participation in global economic forums provide an important opportunity to continue with the geographical surroundings and the world. Abdul-Mahdi said that the entrances to these forums is the key to Iraq to return to normal as a pivotal In the region and the international community.

He pointed out that the relations, Iraq - Jordan's forward-moving and more than many of the obstacles which hinder this progress, stressing that the exchange of visits between the Iraqi officials to give an indication of the development of relations between them and Abdul-Mahdi said that the two countries are forging trade and investment contracts as working on activating cooperation in the oil trade and the free zones.

http://209.85.227.132/translate_c?hl...-03ZrJlWEWDG_w

Welcomed the extradition of al-Shahristani, the oil province of Kurdistan, to the federal government to sell

Iraq's Oil Minister Hussain al-Shahristani, the oil is the wealth of the Iraqi people by the Constitution and the law, noting that the oil must be sold through the ministry within the mechanics of the sale to secure the best price for Iraqi oil.

He said al-Shahristani: 246
The oil minister said that the ministry had been demanding that the oil, which recognizes the issue of the Kurdistan region and the pipeline linking the main export pipeline through Turkey, adding that his ministry welcomes the delivery of oil to the Iraqi government by the province

http://209.85.229.132/translate_c?hl...l2D5fLiAnm5BUA

Dollar sales lower on Monday

Demand for the dollar dropped in the Central Bank of Iraq (CBI) auction on Monday, reaching $124.290 compared to $140.591 million in the previous session.

“The demand hit $26.02 million in cash, covered by the bank at an exchange rate of 1,176 Iraqi dinars, and $98.270 million in foreign transfers outside the country, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the 12 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=113314

UPDATE - Iraq Kurds expect substantial surplus in gas deal

* Deal to provide enough gas to kick start Nabucco
* Iraq's central government rejects deal
* KRG says deal to improve commercial ties with Turkey

Iraq's largely autonomous Kurdish region welcomed on Monday an $8 billion natural gas plan from a bloc of European and Arab firms that it said could provide gas for Europe.

The Kurdish government, which has pursued its own oil contracts despite condemnation from Iraq's central government in Baghdad, said supplies from a new $8 billion plan to tap the region's rich gas fields would focus on the domestic market.

Austria's OMV and Hungary's MOL MOLB.BU have joined forces with the United Arab Emirates' Crescent Petroleum and affiliate Dana Gas DANA.AD in a deal that could provide enough gas to kick start the Nabucco pipeline project and reduce Europe's reliance on Russian gas.

"We are certain that there will be substantial surplus volumes of gas available to satisfy the needs of the Nabucco pipeline project from the currently discovered gas fields and from many other license areas currently under exploration and appraisal," the KRG said in a statement.

Yet the statement is thrust into doubt by a condemnation from the central government, which said it would not recognise any agreement done without backing of the Iraqi Oil Ministry.

"The government rejects any deal that does not include Iraq's federal Ministry of Oil," said spokesman Ali al-Dabbagh.

The gas deal is the latest twist in a long feud between Iraq's central government abd the KRG, which has signed energy deals with foreign firms the Oil Ministry deems illegal.

The KRG, meanwhile, condemns the Iraqi Oil Ministry's failure to boost exports from levels that are still below what they were before the U.S.-led invasion of Iraq in 2003.

LONG IMPASSE ON OIL

Earlier this month, the two sides appeared to have reached a breakthrough when the Oil Ministry -- desperate to boost exports as the oil-reliant government faces a budget crunch due to lower oil prices -- said it would permit Kurdish oil exports through a national pipeline starting in June.

Now, detente looks doubtful.

"The Ministry of Oil in Baghdad should be held accountable for its past failures and inefficiencies. It will be soon forced to adopt market-driven policies to boost production and revenues for the country," the KRG said.

The KRG said it was prepared to supply the Nabucco deal "on arm's length commercial terms to be agreed with the KRG."

"Under the prevailing legal and contractual arrangements practiced in the Kurdistan Region, the (Kurdish) government is entitled to the lion's share of any oil and gas produced by the contractors after their respective cost recoveries," it said.

It said revenues from the gas would be shared among all Iraqi people, but the details on how that would occur were not immediately clear.

The KRG also said that the deal would improve commercial ties between Kurdistan in Iraq's north and neighbouring Turkey.

http://www.reuters.com/article/ELECT...*****Channel=0