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

Link:

VOA News - Baghdad Under Curfew for 2nd Day, Bush Praises Saddam Verdict

Baghdad Under Curfew for 2nd Day, Bush Praises Saddam Verdict
By VOA News
06 November 2006

The part that is interesting us about the curfew :

"The Iraqi government says it plans to lift the ban on vehicle traffic in Baghdad and neighboring Diyala and Salaheddin provinces Tuesday morning. The curfew also shut down Baghdad's international airport."

The rest is about Saddam's trial and sentencing.

From Reuters

"...It said vehicles will be allowed back in the streets of the capital at 6 a.m. (0300 GMT). Pedestrians are free to travel immediately in Baghdad."

Originally Posted by shotgunsusie

everyone sounds like they are trading their dinar in with gypsies. lol

do you suppose the banks will want your deposits and as much money as possible from those deposits counting toward the total amount? if they are a smart business they want as much of your dinar as possible to exchange.

ive watched how banks handle money and considering thats their main function to process monies they have rules and laws that check and double check them and cameras running constantly etc. unless you planned on trading your dinar in with some bohica operation from the dinar forums, to suspect banking establishments of stealing part of your dinar or claiming it isnt any good is silly. any monies that they dont exchange will be legitimately and legally handled with your total knowledge.

mainly what they are looking for is all the stolen dinar that got away. as long as you purchased your dinar through a reputable source you have nothing to worry about.

Susie is right on the money, Banks cannot afford that type of a transaction
to happen where to could run the risk of something like stealing your dinar. They make plenty of money off the deal it self and off of holding it for awhile after you cash it in then they cash it in.

To answer another post out there yes the Da La Rue currency counter does authenicate the Dinar as well as counts it. Like SGS said every one of the major sellers use this equipment and you don't have to worry its legit. I have purchased major amounts from 5 different dealers and some of them I have watched when they counted it out and its fasinating. When I take mine in and they sign for it and give me a reciept, Im out the door and Im not concerned one bit of any of it coming back on me. Besides how many of you can read the serial numbers on the dinar? I have had friend call me and say this stuff is counterfiet all the srial numbers are the same. No their not Arabic is very difficult to read a very small varition in thinkness is a different number.

Voices of Iraq : curfew-raising (by the first)
كتب: nakr2004 في يوم الأثنين, 06 نوفمبر, 2006 - 01:19 PM BTNakr2004 wrote : On Monday, 06 November, 2006-1:19 PM BT

لThe lifting of the curfew tomorrow morning from Baghdad and the Diyala and Salah Eddin. And stay in Mosul
من عادل فاخر وإبراهيم ذنونAdel Ibrahim, a luxurious Relief
((To add details and the continuation of the ban in Mosul)
بBaghdad - Mosul - (Voices of Iraq)

.A source in the media office of the Council of Ministers that the Iraqi government has decided to cancel the curfews for individuals in the provinces of Baghdad, Diyala, Salahaddin from four today, Monday, afternoon.

And lifting the ban on vehicles ranging from six Tuesday, With announced the continuation of the ban in Mosul until further notice.

Wonder if the Banks are open for these folks to walk into? Curfew lift right before NYC opens - hmmmmmmmmmmmm

http://www.iraqdirectory.com/DisplayNews.aspx?id=2503

An Oil Rush in (Yes) Iraq
The Kurds may be sitting on buried treasure, and foreign firms want to do business
06/11/2006
Source: USNews

In a small townhouse in the financial district here, a high-ceilinged room is packed to capacity with oil executives in dark suits. They are men from all over the world, representing some of the largest multinational oil companies, and they sit in rows like schoolchildren, assiduously taking notes. At the front of the room, the minister of natural resources from the Kurdistan Regional Government in northern Iraq is speaking, his English fluent. On the wall behind him is a large map of potential oil fields in the Kurdish region and the beginning of a PowerPoint presentation that reads, "Oil Can Be a Source of Stability."

The government of Iraq may be far from ready to welcome foreign investment into its oil sector right now but, like it or not, the Kurds are moving ahead. While the government in Baghdad is still haggling over its petroleum law and violence wracks much of the country, the Kurds are about to pass their own oil law. They have already signed contracts with a handful of foreign oil companies, and they're aggressively wooing more. The question now is whether these attempts to sign separate contracts, establish a parallel legal regime, and attract much-needed foreign investment will be a source of stability or instability in a country that knows far too much of the latter and very little of the former.

Money. The dispute over oil goes to the heart of the political debate in Iraq. The Kurdish region, currently the only autonomous region in Iraq, has enjoyed self-rule since 1991. Earlier this month, the Shiite-dominated parliament in Baghdad passed a federalism law, allowing other regions to be formed-but not for another year and a half. The law was hotly debated because although the Shiites would like to create their own zone in their oil-rich heartland in the south, the Sunnis fear being left with only an area in resource-poor central Iraq. An agreement empowers the federal government to receive all oil revenues and redistribute them to the regions according to population and "needs."

But the real question is who gets to sign the contracts and manage the fields. And on this point the Kurds won't budge-Iraq's Constitution, they say, gives them control over so-called future fields (existing fields are controlled by the central government, and the fate of those in Kirkuk will be decided by a referendum next year). "In management of new fields, we are adamant that we will not share with federal authorities," says Ashti Hawrami, an English-trained petroleum engineer who is the new minister of natural resources. "Planning, coordination-no problem. But who has the right to write contracts? We can consult with the center, but the ultimate authority lies with the [Kurds]."

High-level jabs have already been exchanged over the issue. The Iraqi oil minister, Hussain al-Shahristani, has insisted publicly that contracts signed by the Kurdish regional government must be subject to the ministry's review. In response, Kurdish Prime Minister Nechirvan Barzani issued a statement that many interpreted as a threat of secession: "The people of Kurdistan chose to be in a voluntary union with Iraq on the basis of the Constitution. If Baghdad ministers refuse to abide by that Constitution, the people of Kurdistan reserve the right to reconsider our choice."

Iraq has the third-largest proven oil reserves in the world, with an estimated 115 billion barrels, and oil companies have salivated over the country's potential since Saddam Hussein's regime fell in 2003. According to the U.S. Energy Information Administration, 90 percent of Iraq's regions are unexplored, with only about 2,000 wells drilled, compared with about 1 million in Texas alone. But the industry has been in terrible shape for the past 20-some years. International sanctions against Saddam's regime meant that the infrastructure was not upgraded. Oil experts think that if international expertise were brought in and facilities modernized, Iraq could produce up to 4 million barrels per day (which is what it produced in 1990, before the invasion of Kuwait). "Iraq's entry into the market will change the entire global oil game," says Ed Chow, a longtime oil consultant who used to work for Chevron.

And that is what is so tempting for the oil companies. In the London townhouse, after the presentations, the questions come quickly from the audience, as much flattery as inquiry. "Congratulations," one oil company rep tells Hawrami. "When can we come negotiate with you?" His answer: "It's first come, first served. We welcome entrepreneurs, but we want structured companies with experience, who offer something we don't have ourselves."

Reserves. Oil companies say that though there are no producing oil fields in the Kurdish territory, initial exploration has shown geological structures similar to large oil fields in other parts of Iraq. The Kurdish government claims 25 billion barrels of proven reserves in the north, plus 20 billion barrels of potential reserves. A Norwegian company, DNO, began drilling last November and discovered its first well this spring. While there is much more oil in the south, the violence there prevents those reserves from being exploited now.

The Kurds themselves marvel at the change in international reaction to their advances. "Five to six months ago, no one would shake hands with a Kurd," says Hawrami. But in May, the Kurdish government created the Ministry of Natural Resources and appointed the minister. In July, Kurdish legislators passed an investment law, which spells out foreign investors' rights. And last month the Kurds published the final version of their own petroleum law. The regional government intends to move it through the Kurdish parliament this month-despite being asked by the United States to hold off for the sake of national reconciliation. The Kurds have signed four contracts with foreign oil companies, and the government's website says it "expects a large-scale licensing round following the passage of the act."

Downstairs, over bites of salmon and pasta, the oil executives feel one another out warily. One congratulates another on a just signed production-sharing agreement. Another group discusses options for doing seismic testing in Kurdistan (there are only two operators there now, both Chinese). Representatives from two major oil companies chat with a British government official. One was preparing to go to Kurdistan but decided to stay in order to meet with Hawrami. "What stage is the central government at with its petroleum law, anyway?" one asks. "I'm not sure," answers the other. "I guess if there's a conflict, that would make things complicated."

That's the consensus view. The U.S. government has expressed concern about companies investing in Kurdistan before the rest of Iraq is ready. "If the Kurds pass their own law, it definitely complicates things-the opportunity for cooperation probably diminishes," says one senior U.S. official. "But it's a great negotiation tactic-you offer something up that's your ideal and then go from there."

To the Kurds, however, their law is most definitely not just a starting point. In fact, though they are involved in the negotiations over the central hydrocarbons law, Kurdish officials say it will not mean much to the region. "Not for investing in Kurdistan, it doesn't," says Hawrami. "But it does matter for the Kurdish people, because we need our fair share of revenue from the rest of the regions!"

So the companies are going with what is available now. Hawrami comes into the room after having had private discussions with one company and is instantly mobbed. Tibor Szatmari, the CEO of a Hungarian oil company that is the largest in Central Europe, waits to talk with him. When he gets an opening, he thrusts his company's annual report into the minister's hands. He admits that he's desperate to get one of these contracts. "If you wait until the situation is absolutely clear, you'll never go," Szatmari explains. "So you take a calculated risk."

Especially if you don't expect to be entering Baghdad anytime soon. "There's a paralysis in the central government," says one former senior U.S. official who quit to start a company that is now investing in Kurdistan. "It's the cultural baggage of the old regime-no one can make a decision without consulting the top guy."

So what's next? A mess, perhaps, as the Kurds press ahead despite Baghdad's explicit protests. Hawrami finishes his presentation on an upbeat note-and just the hint of a threat. "We will soon be awarding new contracts, perhaps on the strength of the new law," he says. "If you come to Kurdistan, we guarantee that you can go to Basra and work as well. After all, who's going to block you?"

Originally Posted by bubbajr

I have a very close friend in the banking industry, by the way that back does not do foreigh exchange. But any whoo, she had said to me depends on which side of the river (Mississippi) determan which FOREX office they will send it to to be verified. either in NY, or in Calif.

Some time ago I had read that the dinar is sent to NY because it is the financial hub but I'm not actually sure. What you say makes sense because more than one bank has to be able to authenticate notes.

Originally Posted by Raditz

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Im sorry if i have missed this but my computer crashed last week. Is this confirmed, do we have an article that states that the hand out will be on the 7th??

Handout on the 7th . Now that is good news !!!!

UN's Global Policy Forum LINK

This is a really good place to find things to Google so I can "try" and find clues to the mystery - plus helps my google brain with keep who's who right.

Cheer
Chris

Here's a useful website for those of you residing in AZ


Currency Exchange Arizona

Originally Posted by MrsCK

Ok let me get ya excited here is a quick recap:
1. Aman isx ticker for the last week says: ISX starts trading NOV 7th.
2. Soldier is told by bank in iraq on Thursday - no sale until RV in a couple of days hmmmm
3. Bank has not updated since Thursday (which tells me the soldier story is correct)
4. 10,000 Hand out Nov. 7th
5. none of the news site's have hardly anything or 11/6 news.
6. Plus forex sites are doing a funny dance the last two days on dinars.

NOV 7th is REALLLLLLY LOOKING GOOD!!!
I think maybe we need to watch NYC forex at 9am EST today and just see if something may give us some clues.

HOPE this gets ya a bit EXCITED -

Kiddo you are doing great on helping everybody here too, we are happy to have you in the family here at rolclub.

RV THIS WEEK

Let's not downplay the importance of the FIL. Everyone was fired up when it passed. I believe it has to be enacted by tomorrow. Correct me if I'm wrong (I'm sure someone will, LOL)

Sorry if posted already- from ARAB TIMES

Iraq aiming for 3 million bpd of crude by end ’06; Japanese firms eye Nassiriya oilfield


BAGHDAD (Agencies): Iraq hopes to be producing three million barrels of oil per day by the end of the year and a massive 4.5 million by 2010, oil minister Hussein al-Shahristani said Wedne-sday. The minister told reporters that Iraq had produced an average of 2.3 million bpd in October and had exported between 1.6 and 1.7 million daily despite insurgent attacks on pipelines “at least two to three times a week”. More than three years after the fall of Saddam Hussein and the end of United Nations sanctions, Iraq is still struggling to develop its key oil sector amid sectarian war and a rebellion against the US-backed government.

But Iraq has 112 billion barrels of proven reserves — the second highest level in the world — and Shahristani painted an optimistic picture of rapid expansion and modernisation thanks to investment from foreign partners. The minister said he had recently returned from a tour of Asian countries and had returned with an agreement from the China National Petroleum Corporation (CNPC) to take over the Al-Ahdab field in southern Iraq.

Meeting
“A joint Iraqi-Chinese committee is to hold series of meetings, the first of which shall be on November 11 in Baghdad to start talks over how to develop the oil field,” Shahristani said. CNPC first agreed to develop the field in 1997, but Iraq’s contracts have had to be reviewed since a US-led invasion swept away the former regime. Now, the firm hopes to produce 90,000 barrels per day there. Shahristani also said that during his visit to Japan, the government promised to give a soft loan of 3.5 billion dollars to help Iraq build a refinery and a floating loading platform in the southern city of Basra.

Also:
BAGHDAD: Japanese oil firms are interested in developing Iraq’s oilfields in southern Nassiriya, Oil Minister Hussain al-Shahristani said on Monday. Shahristani, who is just back from a tour of Asia, said Iraq welcomes all international firms interested in working in the country as long as contracts signed are under a hydrocarbon law which he expects will be passed by the end of the year. He added that the Japanese government, which had shown its support for the Iraqi government, was willing to offer Iraq soft loans with maturity up to 40 years.

“The Japanese said they were willing to provide soft loans with maturity up to 40 years for any amount of money we need to develop the oil industry — to develop the refineries, exports and production,” he said. “Right now there is a Japanese loan at $3.5 billion. More than one billion of it will be spent to develop the Basra refinery. Also on building a floating port and an export pipeline.” Japan, which depends on foreign sources for its oil needs, recently lost out on developing neighbouring Iran’s giant Azadegan oilfield.