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

Did we see this one already?? My god, Japan is getting all hot and sweaty over Iraq's oil...

Japan intends to offer a loan to Iraq
14/11/2006
Source: Translated by IRAQdirectory.com


The Japanese Ministry of Foreign Affairs announced that its country intends to offer a loan to Iraq worths 20199 million Japanese yen for the development of engineering services in Basrah Refinery project and rehabilitating the fertilizer plant in Khor Al-Zubair.

The Foreign Ministry issued a statement yesterday that the Japanese Foreign Minister stressed that despite the withdrawal of his country's troops from Iraq, Japan will continue to support efforts to rebuild Iraq. In the same context, the Japanese Minister of Economy, Trade and Industry, Mr. Akira Amari, said after his meeting with the Minister of Oil, Dr. Hussein Shahrastani, that "Iraq is an indispensable partner for Japan being one of the sources of energy". The two ministers confirmed in a joint statement that deepening bilateral cooperation in these projects would help to strengthen relations between the two countries and to provide for the needs of Japan's energy.

Also, Toyota officials expressed their desire to cooperate with Iraq because of the importance of the Iraqi market; this came during a visit made by the Iraqi Ambassador in Tokyo, Dr. Ghanim Alwan Al Jumaili, to the headquarters of the company and to one of the largest company's factories in the cities of Nagoya and Toyota, according to a statement by the Ministry of Foreign Affairs.

http://www.iraqdirectory.com/DisplayNews.aspx?id=2578

Hi Everyone,

Just a thought but they have stated that with big announcements like FIL and HCL they would be published in the Gazette or a lot of different news papers. I was reading one of SGS posts earlier to regards of the CBI statement being published in many papers around Iraq. Now I maybe grasping at straws but this is just a thought that maybe the are announcing the RV and will enact the RV ASAP!!!!!!

JUST A THOUGHT!!!!!!!

Dinar-Excited

BAGHDAD, Iraq Nov 14, 2006 (AP)— Iraq's president accused neighboring Arab states on Tuesday of sowing discord in the country by backing Iraqi politicians he labeled seditious including a leading Iraqi Sunni Arab leader.

"Regrettably some Arab countries are aiding sedition," Jalal Talabani's office quoted him as saying in a meeting with Iraqi Prime Minister Nouri al-Maliki.

The statement issued by Talabani's office did not name the states to which he was referring.

However, it said the president, a Kurd, singled out hard-line Sunni cleric Harith al-Dhari for special criticism, saying al-Dhari has "nothing to do other than incite sectarian and ethnic sedition." Al-Dhari regularly travels between Iraq and the Persian Gulf states, as well as Syria, Jordan and Egypt.

"My belief, is that they (Arab states) are helping Sunni Arabs. They support individuals that incite sedition," Talabani was quoted as saying.

Al-Dhari, the head of the Association of Muslim Scholars, is a fervent critic of al-Maliki's Shiite-dominated government. In a television interview last week, he mocked a government offer to end three years of insurgency and bloody sectarian violence by negotiating with anti-government insurgents, excluding Sunni extremists, members of Saddam Hussein's Baath party, and those who fought U.S. troops in the country.

"Whom then do they wish to negotiate with? Armed criminals?" al-Dhari asked.

Talabani's implied criticism of Syria meshes with claims by the U.S. and Iraqi governments that Damascus is doing little to prevent foreign fighters from entering the country. Syria denies that accusation, saying it is impossible to control the long desert border.

However, al-Maliki has also moved to heal ties with Damascus, saying Sunday he was ready to take "five steps" toward Syria if it took one in Iraq's direction.

Iraq recently invited Syria's foreign minister to visit, an offer he accepted, although no date has been set yet for the visit.

Originally Posted by OneShotOneKill

Your post are very informative.

Neno, is there anyway to bump a member to Senior without posting 100 messages? If so I think Wm.Knowles should be moved up. After all he has posted more useful information in a few post than I have in a few months of posting. What does the rest of the gang think?

OSOK

Put it this way, we knows MR.Knowles. Would like to consider him a offer for a Moderator for Advise section of some sort of his specialty. Rolclub is open for offers that would benefit our members always. If Wm. Knowles see's this and has something to add to our forum from his contribution, it will be benefically considered, seriously. Rolclub has things coming with the TRC. But we do have finacial, forex, and other section's to offer, and could always use a ACTIVE perticipant to offer advise are run a certian arena for Rolclub and its Members. Will be waiting. Just a offer. This is on the table for all. Marek is going to be, and is exspanding Rolclub, to more oppritunities than what Rolclub has been in the PAST. With 20,000 members and growing the need is there. Everyone have a GREAT Evening.

Source : Journal of the Conference-14 / 11 / 2006A spokesman for the Ministry of Oil media Assem Jihad for the formation of a ministry (Maysan oil) along the South Oil Company in Basra to maintain the number of major oil fields. He added : Jihad The formation of the company came within the Ministry for development and investment and the oil company would be rallying to the sectors of the Ministry of Oil under the full supervision of them. He stressed that the ministry was considering Jihad founding companies in other provinces, which possesses oil fields. The spokesman expected that the Information Ministry will establish a similar company in the province of Kirkuk, they have fields, as well as spot in Wasit governorate, noting that there was a great progress in natural gas investment in the province of Western possess huge quantities of gas-invested in the Western Sahara, as studies in the ministry. In Amman denied the Jordanian Minister of Transport Eng Saud Al-Nusseirat news yesterday about starting to provide his country with Iraqi oil at preferential prices up to 18 dollars per barrel. The Nusseirat commenting on the news that the fleets tank for the transport of Iraqi oil ready for action "for about two months - that the technical aspects of the Iraqi side is still objects to begin the process of the actual transportation," he expressed his hope that the amounts of oil transported to Jordan to 30 thousand barrels per day. One was news agencies reported yesterday that the first oil minister Hussein Shahrastani said : , "Iraq started supplying Jordan with ten thousand barrels of crude oil at preferential prices up to 18 dollars." At the same, former secretary general of the Ministry of Energy and Mineral Resources Eng. Khaldoun Kutaishat expected "that the Jordanian side completed all the procedures for transfer through the Jordanian-Iraqi Company for Land Transport, which provides security for the transport of oil through its relations in Iraq," stressing that some of the technical obstacles from the Iraqi side "is still prevent him from the start of the transfer. "

http://64.233.179.104/translate_c?hl...language_tools

I think we will be looking towards the 11-12 Dec 06 meeting for IAMB and then to January for possible R/V. I am confident that news of HCL and FIL should be very very soon. Go Dinar.
LIT

South Oil Company leading the campaign for the reconstruction of Basra
اDevelopment of the fields of Nasiriyah

Iraqi Media Network southern region - 14 / 11 / 2006
Invest South Oil Company material and technical capabilities in large-scale projects for the development of the city of Basra in a pioneering step through a portion of oil revenues to rebuild the city, and an interest in beautifying the center of government neglect is unjustified.
In this connection, witnessed the city of Basra in the recent reconstruction of a major campaign to rehabilitate the city streets, President and plantation clothing sidewalks Pklv borne by the South Oil Company.To put Mr. Muhammad Misbah Alowaeli Governor of Basra by Eng Jabbar Allaibi director-general of the South Oil cornerstone of a housing project of the company in the north of Nekheila break and the center of the city at a ceremony held at the site. The project includes the construction of 4500 housing units, and 250 service facility in addition to the medical clinic and school on an area of 1100 dunums, which is the first integrated city for the State Employees slimmed down (oil city).

Alowaeli briefed on the progress of achievement in the hospital Oil Company in Al Zahra street city center which covers 3750 square meters with a capacity of 300 beds and floors.

To benefit from the oil reservoirs in the fields of Dhi Qar, and expand the productive capacities of the South Oil Company introduced expert Jabbar Allaibi a general manager of the company under his direct supervision of the Department of oilfields in Nasiriyah.The rate of Yasser Engineer Karim Hashim for the administration of this section, which includes people of technical and administrative fields, including the engineering operations, projects and the protection of oil installations and Divisions financial management. A committee was formed to restructure the section of the Chairperson and representatives from the fields of projects and processes and Maysan oil for the first time the company, the company would invest ambush Artawi oil and gas extraction dried where technical cadres construction of civilian infrastructure for gas station isolate Artawi 100 km where work began on August 17, 2006 in a direct implementation and Pklv much less when put up for bidding eligibility.
He says Ahmed Sobeih Jabbar Associate Head engineers that the site is extremely dangerous because of the distance from the city center, adding that the nearest site to us is an oil site 30 km North Rumaila, where advancing protections on the road to the site, which puts at risk in addition to working hours starting from 7:00 to 4 pm.
The project area of 300 * 300 square meters is expected to be completed by the beginning of next year it is hoped to reach a production capacity of 50 thousand barrels per day.

http://64.233.179.104/translate_c?hl...language_tools

Source : Gulf-14 / 11 / 2006

An official of the Iraqi oil sector yesterday that Iraq is lifting the official selling price of Basra light crude to be shipped in December to its clients the United States but to reduce the price to buyers in Europe and Asia.

And the Iraqi Oil Marketing Organization (SOMO) in December sales price to buyers Americans deduct 20 t $ 8 for the price of West Texas Intermediate crude compared to the American discount of 90 per eight dollars in contracts in November in November.

A price of oil shipments in the December contracts for Asia at Khami Oman and Dubai minus 90 R. two dollars, ten cents less on the price in November.

http://64.233.179.104/translate_c?hl...language_tools

Source : Reuters-14 / 11 / 2006

De company said. That. Or Norwegian Tuesday that it is on track to produce oil from the field Tauke northern Iraq in the first quarter of 2007.

And De. That. Or the first foreign company for oil exploration in Iraq after the invasion, led by the United States.

She said in a statement that the two hotbeds Tauke barrels per day produced in 3840 and the initial results from the well showed increasing reserves in the field Tauke.

http://64.233.179.104/translate_c?hl...language_tools

Originally Posted by shotgunsusie

didnt someone mention $3.?? something a few days ago trying to correct your figures? or were they turning the equation around? they said that was the older rate of it.

I don't know Susie, I didn't see that post. I'm assuming it's maybe what is being discussed now.....

Quote from the 2004 Stock Holders Meeting:
Central Bank of Iraq to balance US dollar price to 0.310 ID instead of its real value (1460) ID per 1 US dollar

Meaning it will cost you 1 USD to buy .31 dinar instead of buying 1460 NID for 1 USD. Doing the math as outlined above, if you took 1 USD divide it by
.31 NID this will = 3.22 USD. In other words you have to spend 3.22 USD to buy 1 NID.

Now as far as the "black market" rate. These guys were gouging the people.
Before the war, the banks were a very orderly institution, people came and got their money and went away quietly. Now, people are angry. Some threaten to kill the bankers/tellers if they don't get what they want.

Iraqis are unable to get their own money and feel gouged by the money-changers, who have created what amounts to a false market in which the dinar can double in value or drop just as far in a matter of hours. In 1989 they were selling at 1.86 NID or .537 USD so the people were paying MORE instead of the .31 NID.

The money-changers line the center of the street, some with wooden desks and others with boards laid across milk crates, their piles of money stacked next to calculators and watched over by men with pistols.

How do the money traders know where the bidding should start? The market price, they say, is determined by wholesalers selling large amounts of goods, such as refrigerators or televisions, who come to Kifah Street with thousands of U.S. dollars to change into dinars. There is no order and no one is in charge, just money-changers bidding furiously against one another.

According to the 2006 CBI report they want to return to the Yazzmen rate. WHY? I don't know. It seems if they stuck with the .31 rate (actually... Iraqi dinars per US dollar - 0.3109 was the fixed official rate since 1982 and the 2nd set of books still reflect this rate) they could put the "black marketers" OUT OF BUSINESS.

But I think we MUST remember what the CBI said about the Yazzmen Rate, it was stated for a reason and even though it isn't what we would like to see, it is a very big possibilty that the rate could be .54 But that really isn't chump change.

Not sure I've answered your question or not, seeing I don't know what was said. Do you have the link or know who posted it? Let me know. But I hope this helps.

Cheers!
DayDream