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

The Ministry of Oil company denies the withdrawal of the Dutch "Shell" of the Agreement on the principles of partnership

The Oil Ministry has denied reports that some of the broadcast media company on the withdrawal of the Dutch "Shell" of the Agreement on the principles of partnership for the development of a joint venture to drill for gas in Basra.

A spokesman Assem Jihad Ministry in a press statement that a company "Shell" is aimed at the development and extraction of gas in the south of the country with investments of the task of the national economy.

The China National Petroleum Corporation's first foreign partner to reach a service agreement with the Oil Ministry, through the development of Iraqi oil Ahdab investments amounting to 3 billion dollars, but without sharing the proceeds.

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Kurdish constitution may cause more problems for Iraq

Iraqi Kurds have adopted a new constitution in a step they say it will bring their region closer to civil and human rights conditions in Europe and North America than any other country in the Middle East.

The constitution, which the Kurdish regional parliament has already passed, promises freedom of worship and gives other ethnic groups and religious communities rights that are parallel to those of Kurds and Muslims.

For example, ethnic minorities have the right to exercise self-rule in their areas, teach their minority languages and have them reinstated in government and official documents originating in their autonomous territories.

The degree of freedoms given to these groups is far ahead of those prevalent in the federal constitution raising fears that Iraqi minorities in northern Iraq will choose to join the Kurdish region rather than being linked to the central government.

The constitution treats all religions the same and no priorities or privileges are given to Islam at the expense of other faiths.

While in the federal constitution Islam is the official religion and no regulations or rules deemed contrary to it are to be taken.

But one of the thorniest issues in the Kurdish constitution relates to what it regards as part of Iraqi Kurdistan.

If paragraphs related to Kurdish territorial borders are applied, the current Kurdish frontier will move as close as Mosul, the provincial center of Nineveh, and include almost the whole of the oil-rich province of Kirkuk.

Harsh criticism of attempts to expand Kurdish territorial borders has come from Arabs and Turkmen from both Nineveh and Kirkuk.

Both groups have vowed not to allow the Kurds redraw the current territorial map, saying the Kurds should stay within the borders of their current three provinces – Arbil, Dahouk and Sulaimaniya.

“Kurds are playing with fire,” read an official statement issued in Mosul.

Arabs and Turkmen in Kirkuk have already issued statements lashing out at the new Kurdish constitution.

The constitution will be put to popular vote in July when the Kurds select a new regional president and parliament.

http://www.azzaman.com/english/index...06-29\kurd.htm

Doğan taps into N. Iraq resources
ISTANBUL - Doğan Enerji acquires 50 percent of the shares of two companies formed to tap into Iraqi oil. The companies will search and develop oil in the Arbil and Khalakan regions. The move comes after Genel Enerji merges with Britain’s Heritage Oil and China’s Sinopec offers to buy Addax.

Growing Turkish interest in Iraq’s energy resources has spurred another takeover, as Doğan Holding announced it has invested in two project companies formed to find and extract oil in the country.

According to a Doğan filing with the Istanbul Stock Exchange yesterday, Doğan Enerji, the energy arm of the group, acquired 50 percent of the shares of two different companies formed to locate and extract oil in northern Iraq’s Arbil and Khalakan regions.

The filing came a day before the Iraqi government received offers from the world’s top oil companies to develop oil and natural gas fields. Companies including Exxon Mobil and Royal Dutch Shell are looking for the rights to develop six oil fields and two gas deposits in the country.

"Other shareholders at the project companies are institutional investors from Switzerland and the United Arab Emirates," Anatolia news agency quoted the Doğan Holding statement as saying.

The partnership licenses for Doğan Enerji last for two decades. The field in the Arbil area is projected to start pump oil next year, while a test-drill will be set up at the Khanakan field next year. Doğan Enerji will invest $80 million in the two fields over the next two years.

Energy renaissance

Doğan’s statement follows a move by the autonomous Kurdish Regional Government to export crude oil for the first time on June 1. Exports from the Taq Taq field were managed by Swiss oil producer Addax and Genel Enerji, a Turkish firm, while exports from Tawke field were made by DNO International and Genel.

Barely a week after exports started, Britain’s Heritage Oil announced it was merging with Genel Enerji, a subsidiary of Çukurova Group, for $2.45 billion, forming a $5.5 billion company named HeritaGE. The new firm aims to develop Taq Taq, Tawke and Miran fields in northern Iraq and transfer the oil to international markets via the Kirkuk-Ceyhan pipeline, according to a Genel Enerji statement June 9.

"While not of the size of the Heritage-Genel transaction, [Doğan’s move] demonstrates the attractiveness of acquiring stakes in energy assets or energy firms focused in northern Iraq," Bobby Sarkar, vice president of Equity Research at Dubai-based Al Mal Capital, told Hürriyet Daily News & Economic Review yesterday. "The region possesses significant untapped ... reserves, which could be harnessed to not only meet local demand but used for substantial export-driven income."

After the Heritage-Genel deal, Sarkar predicted the region would see similar acquisitions.

Last week, China Petrochemical Corp., known as Sinopec, offered $7.3 billion to buy Addax. Shares of DNO International in Oslo also started climbing, on expectations that the firm will receive a similar offer. Since May 1, DNO gained nearly 25 percent.

Doğan shares spiked yesterday, rising 11.6 percent to 1.06 Turkish Liras.

"This is a solid development in the energy business," Bloomberg quoted Önder Zorba, an analyst at Ata Invest, as saying. "The project has the potential to provide vertical integration and it’s parallel to Doğan’s growth strategy."

http://www.hurriyet.com.tr/english/f...8135.asp?scr=1

Oil: to defer consideration of bids submitted to the second hour of the afternoon trading between the bid

The Oil Ministry announced the figures and presentations made by international companies to develop oil fields are not commensurate with the figures set out by the Ministry of Oil at a higher level.

Said Oil Minister Hussain al-Shahristani at the licensing round: "The ministry has put the company on top of each additional barrel of oil from fields developed, but the presentations were not commensurate with the request."

The Pentagon decided to defer consideration of bids submitted to the second hour of the afternoon trading between the bid.

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Shahristani: Tour permits an important step in the construction of the oil sector and the development of the Iraqi economy

Said Oil Minister Hussain al-Shahristani, "The oil licensing round is an important step in the construction of the oil sector and a strong focus for the development of the Iraqi economy."

He said in his speech at the announcement of the winning companies licensing the first round today in Baghdad: "The preparation for this round started since the beginning of the year 2008, up 120 companies have been the rehabilitation of 32 companies representing 18 countries."

He said: "The tour has seen the maximum level of competitiveness of global competition, and today will see the Iraqi people in public and in front of the sight of all this round, both for the Iraqi people."

He continued: "I'm proud of what has made the difference and the Ministry of Oil and systematic manner for the trip, which will have positive returns and a significant impact on the Iraqi economy over the next 20 years and contribute to the strengthening of the national economy."

And the price of al-Shahristani, the oil companies and personnel involved, and why the companies are not lucky to win in this round, have an incentive to return and participate in future rounds.

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Maliki directed a letter to the Iraqi people on the occasion of sovereignty

Learned that Prime Minister Nuri al-Maliki will be shortly after An important speech on the occasion of national sovereignty June 30.

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Maliki: There are a series of oil licensing rounds, and the government will provide facilities for the winning companies

Prime Minister Nuri al-Maliki, the Iraqi government's readiness to provide all facilities to the companies that win licenses first oil, confirming the existence of a series of similar future tours.

Maliki said in a speech to mark the start of a license and the declaration of the first companies winning contracts to the mechanism that have been selected for this round may be somewhat complex, "but to give the best in decades," stressing that the government will work to facilitate the work of the winning companies and to stand alongside security, protection and ensure the success of the process.

He pointed out that this Aamaliki round, which he described as "perhaps the unique" that it is not recent, calling on companies that have not won this round participation subsequent tours, stressing that "there is a series of rounds in this regard."

For his part, said Oil Minister Hussain al-Shahristani, the first petroleum licensing round an important step in the construction of the oil sector and a strong focus for the development of the Iraqi economy.

Shahristani said in a speech delivered at the start of a first license to develop Iraqi oil fields up on Tuesday morning the presence of Prime Minister Nuri al-Maliki said 120 companies had applied to participate in this round since it began the start of the year 2008, and the rehabilitation of 32 companies representing 18 countries.

He said the tour has seen the maximum level of competitiveness of global competition, and "today will be the Iraqi people in public and in front of the sight of all this round, both for the Iraqi people."

The licensing round of submission and opening of tenders have been taken directly by the Iraqi s.atellite channel.

The al-Shahristani, in his speech that he was "proud of what has made the difference and the Ministry of Oil and systematic manner for the trip," which he said would Bmrdodat positive and significant impact on the Iraqi economy for the next 20 years.

It called on the Minister of Oil companies are not lucky to win in this round, have an incentive to return and participate in future rounds.

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U.S. military confirms pullout from the base, not the beginning of 2010

The U.S. forces withdrew from the forward operating base Brasfield - Mora, also known as not in the province of Salah al-Din at the beginning of 2010.

A statement by the U.S. Army has received a copy of the Tigris Radio on Tuesday that coalition forces intended to hand over all facilities, not the forward operating base to the Iraqi side, but this process will require sometime.

He added that he would be the creation of a wall around the first part of the base would be handed over to officials in the city of Samarra.

The statement added that the rule will not become a major grain storage is a significant step in helping the region's farmers.

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Hill: Now is the time to solve its own problems with Iraq

U.S. Ambassador to Iraq, Christopher Hill, the U.S. government is confident that the government and the Iraqi security forces can deal with the terrorism in the country after the withdrawal of U.S. troops from cities.

Hill said the eve of the U.S. withdrawal from Iraqi cities, it remains to be done much work to achieve reconciliation among factions of the people and the differences between Arabs and Kurds, but Iraq must resolve these problems themselves.

Hill expressed his belief that Iraq is ready and the road may be bumpy, but it must be a way Iraqis, stressing that the total appropriation to the Iraqi army and police to maintain security can be achieved fully.

Hill said it was important for Iraq to bring peace between the various factions to prevent a return to the violence that has killed tens of thousands since 2003.

The U.S. ambassador said Monday the United States looks forward to a long-term relationship with Iraq and to the existence of a long-term.

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Minister of Labor: American forces out of cities, a significant milestone in the history of Iraq

The Minister of Labor and Social Affairs, Mahmoud Al-Sheikh Radi departure of U.S. troops from the cities as a significant milestone in the history of Iraq.

The Sheikh Radhi during a gala organized by the central ministry to mark the departure of American forces from Iraqi cities, that the terrorists and the enemies are seeking to the continued existence of U.S. troops in Iraq.
The number of ministries and national events organized to mark the departure of U.S. troops from Iraqi cities in the initial step to achieve full national sovereignty.

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