Thread: Iraq/Dinar News. 09/05 to 01/14/07

Now this gets me excited!!!! 3rd, 4th, and 5th paragraphs......oil is going to make us rich pips!



BAGHDAD (AFP) - New Iraqi Oil Minister Hussein Shahristani said that he would launch wide-ranging contacts with international oil companies to boost investment in the vital but battered sector.
"We will start contacts with the largest oil companies in the world who want to come in and work in

Iraq and bring their technology and capital and sign, with our conditions, contracts to realize greater benefits for the Iraq people," the minister said.

"Iraq's God-given natural resources are huge and, if we can use and develop them properly, could put Iraq on the level of the richest countries in terms of income.

"They say Iraq has the second largest reserves in the world, but I think Iraq is really the first because there has been no exploration or investment for all these years."

Iraq has more than 112 billion barrels of proven reserves, second only to Saudi Arabia, but potential reserves could be double that given the lack of exploration in recent decades.

Modern exploration techniques that have emerged in the past two decades, such as 2-D and 3-D seismic imaging, have never been used in Iraq.

Foreign investment in the oil industry has long been viewed with suspicion in Iraq because of the dominance of Arab nationalist ideology.

But the ravages sustained by its oil infrastructure have forced a change of heart.

"There is a need to put in place laws for oil and gas that set up a framework for international cooperation and develop the Iraqi capacity," Shahristani said.

"These resources cannot be developed through local efforts alone because we have neither the means not the expertise -- there have been a lot of developments in oil technology over the past two decades."

Sunni Arab insurgents have repeatedly targeted Iraq's oil infrastructure over the past three years, sabotaging pipelines and pumping stations which are in any case often in an advanced state of disrepair because of a lack of investment.

The minister vowed to move strongly against the saboteurs, who have been particularly active in the northern oilfields around Kirkuk.

"The government will strike with an iron fist anyone who wants to attack the oil sector in the future," he said.

Iraq produced 2.1 million barrels of oil per day in April and exported 1.6 million -- below the levels recorded just before the US-led invasion of 2003.

From other forum, take it for what it is as always.


Not that I have been told. It was agreed on May 3rd that the RV would take place between May 28th and June 1st. There were meetings involving Shabibi and other officials on May 15th that finalized the Euro peg and took care of the i's and t's.

Timeline was:

End of April: Rate and convertibility set.

May 3rd: Timeline the RV would happen within set for between May 28th and June 1st.

May 15th: Euro peg confirmed and details about announcement discussed.

This has been on a fast-track since Maliki secured the nomination on April 21st.

looookin good adster!!

thanks adster.....looking good indeed.....nothing but more good news it seems like.....GO DINARS....Pat

Originally Posted by Raditz

looookin good adster!!

;0) but let's not bank on it! don't want people to be disappointed if it doesn't happen. I still feel IF it doesn't happen then then it will be by the end of June at the same rate. Just a feeling I have from reading and learning. Hope I'm wrong, LOL.

I'm a bit wary about putting other posters posts, have always brought facts and it's only as we're so close I'm hearing peg dates and thus throwing them out there. I've just read this, again, don't take it as gospel and if you want me to stop just say and I will. Here we go, I'm waiting on more clarification.


For what it is worth...

A fellow called a person I know JUST NOW.. and the conversation went like this:

"Hey, I am watching a financial program on TV. They JUST SAID that the Iraqi Dinar is about to hit the world market!!"

I am seeking more details.. (why didn't he ask the guy WHICH program?)
Anyone hear anything on this?

has anyone heard of usdinar.com and are they reputable?

Any day now, repeat any day now is coming out on a couple of forums.....:0))))

Hi Adster - don't you dare stop. Do you realise how many females (and others) hang on your every word, The first thing we think of every day and the last every night. Hope after all your hard work for us you get to ditch that day job which you seem to hate and enjoy every single day. You deserve it. Thanks to you and OSW for all your work and we know that you tell it as you hear or see it without any guarantee. Can't wait to see the look on my husband's face and tell him about the other two men in my life.

bigopie
here...guess in a round about way i must thank pips mis fortune.....or i might not have met them and gotten this golden opportunity


i was thinking the same thing........ God closes one door and opens another!!