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

Originally Posted by DayDream

It wasn't recent Adster...Gez I've been banned from there for months. It was probably around June/July he stated the .30 I distinctly remember it because at that time everyone was figuring .05 to .10 and I thought yeah-boy! I'll cash in for that! But he was thinking it would be a longer wait. Jiminy is he still thinking 2-4 years?! Someone needs to take this --> over there and beat some sense into him! But I really believe he said that, cause when he spoke...I listened.

Cheers!
DayDream

Oh yeah, I'm a big fan of his also! I remember him saying .30 about that time as well.

Tuesday, November 28, 2006-01 : 53 PM BT

From the young

Karbala - (Voices of Iraq)

Tomorrow, Wednesday, held in the city of Karbala the reconstruction is the first of its kind to discuss the projects and accelerate the development of the reconstruction of 2007.

He said the Karbala governor Dr. Aqeel khaz'ali News Agency (Voices of Iraq) today, Tuesday, the Independent said, "The conference aims to develop a process for projects to be implemented in 2007 and overcome the obstacles that have occurred in the implementation of projects being implemented in the current year."

He added that "the conference will see three working sessions, the first to discuss the obstacles encountered in the implementation of projects this year, and studied in depth by specialists and consulting firms, scientific and engineering circles and the relevant State, The second set priorities for projects in 2007. With the third meeting dedicated to the development of the schemes and schedules and quantities to determine who designed for future projects. "

"He explained that the conference "will also sunspots, the real each project submitted to the Committee for reconstruction and accelerate the provinces, as well as the counting of workers."

"Khaz'ali did not give details on the number of projects to be implemented next year, But, he said, "The project will be allocated in the light of the city of Karbala from the fiscal budget in the coming year."

It is noteworthy that the number of projects that are currently amounted to more than 120 projects costing a total of more than 950 billion Iraqi dinars.

Cheers!
DayDream

Concerning Oil. Last summer there was a report that Iraq had reached 2.5 MBD in production. Recently there was another report that they had reached 2.8 MBD with the projection the they would reach 3MBD by end of '06. So if we use these figures, and use the figure of .5 MBD in consumption, then Iraq has available for export of around 2MBD. (Please correct my figures if you have conflicting information). If this is close to true, and oil is trading at around 60$ per barrel, then Iraq's income is over 43Billion a year. I beginning to think that oil is coming into play as a major factor in our discussion of iraq. If their budget is between 30 and 40 Billion a year, then they have a surplus that has to be brought into the discussion. On a individual basis, we would call this disposal income. Money for further oil development, money for infrastructure, and money to be used by the CBI to retire/ remove currency. They are already rich. And they need to increase the purchasing power of the currency for the iraqi people. The one single thing they could do at this time to stimulate the economy and increase the confidence in the GOI. Thanks

Sorry if posted before...I only wanted to post it because here is ANOTHER reference to an auction on Sunday that the CBI said they DIDN'T have! And the amount stated is the amount from 11-27 auction (Monday)

Tuesday, November 28, 2006-12:49 PM BT
Demand for the dollar registered its lowest level in 2006
Baghdad - (Voices of Iraq)
Record demand for the dollar today, Tuesday, its lowest level this year. The dollar lost 2 dinars two of its value amid expectations of continued decline in demand for the American currency, with the direction of the Iraqi Central to raise the value of the Iraqi dinar at the expense of the dollar.
The Central Bank said in a statement today, Tuesday, that the demand for the dollar today, the volume of total demand of 850 thousand dollars, compared to 20 million and 580 thousand dollars on Sunday.
Confined demand for the dollar at 850 thousand dollars in cash, No sale of any amount in the form of remittances abroad. The bank has full coverage at the exchange rate amounted to 1437 dinars, down 2 dinars two rates yesterday.
Did not make any of the six banks participating in the auction, the lowest number of banks participate in one meeting this year, any offers to sell the dollar.
The dealers with the auction had predicted last week that the demand for the dollar remained low during the coming period due to the continuation of the Central Bank in reducing the price of the dollar that is bought today reduced its price tomorrow.
He said one be combined to "requests for the dollar will remain low in wait for the exchange rate that the Central Bank wants to get to and not known until now."

Cheers!
DayDream

Originally Posted by bob1940

Adster, Thanks for the CONgrats. It seems so long ago with all this joining the club and all I must tip my hat to you for getting me involved. Thanks BOB
the RV will Happen friday.---------------I HOPE! LOLBOB

Welcome matey, you'll sort the low lifes out!

Voices of Iraq : Hilla chemical -

Tuesday, November 28, 2006-04 : 24 PM BT

Professor arrested for possession of suspicious chemicals in Hilla
Hilla - (Voices of Iraq)

Police Commander Babel that the university professors working in the Department of Chemistry, University of Babylon today, Tuesday, arrested in possession of suspicious chemicals, it was referred for laboratory examination to determine the nature and uses.

The police chief Major General Qais Almaouri News Agency (Voices of Iraq) Independent
"Intelligence information available to the police about the presence of a quantity of the chemicals in one of the labs (Al) - operating in the area (the industrial district) the status of the city of Hilla."

He pointed out that such materials "seized in a quarry built at all shaken arbitrator within the lab,
"The raid, which forced the team to the destruction of the walls in order to be able to enter. "

"He added that Almaouri detachments police "arrested Dr. (p h), which operates a professor at the University of Babylon Department of Chemistry, those in possession of chemical suspicious. "

"The police commander that the seized material "was packed inside bags and placed in cans Court, The estimated quantity of tens of kilograms. " He pointed out that "the way to retain these articles raise many questions. , which called the police leadership to be forwarded to specialized laboratories in conjunction with the coalition forces for the purpose of the intervention, which uses knowledge of this article. "

"He continued, "these materials could be used in the manufacture of explosives, There is a possibility that the remnants of the former regime.

Cheers!
DayDream

Originally Posted by DayDream

27 November 2006 (Al-Adala)

The Iraqi dinar (ID) kept the same exchange price of last Thursday of 1465 ID per one U.S. dollar in the first auction of this week.

The Central Bank of Iraq's (CBI) sales of U.S. dollars decreased to reach 24,880,000 whereas they totaled $70,180,000 last Thursday.

Only 10 banks participated in the Sunday auction whereas 14 banks participated in last Thursday's auction.

Iraqi dinar exchange price stable in CBI auction | Iraq Updates

Does anyone know whats wrong with this picture? Give up?
THERE WAS NO SUNDAY AUCTION ACCORDING TO THE CBI!!! (or was there? )

Cheers!
DayDream

It appears that the figures they are quoting are from 2 weeks ago Sun 11/12 and Thurs 11/9. Why would they do this in an article dated yesterday??

Iraq Declares War on Petroleum Smuggling

Iraq Declares War on Petroleum Smuggling 28/11/2006 Source: Todays THV



Smugglers were loading gasoline on a ship at an illegal port in southern Iraq when police surprised them with a raid that ended with five smugglers and two policemen dead.

The October clash at Abu Flus was one of many attempts by security forces trying to stop smuggling of Iraqi petroleum products to neighboring countries, a practice that is costing the country billions of dollars every year.

Smugglers are selling millions of gallons of Iraqi gasoline, kerosene and diesel fuel outside the country every year. They then reap huge profits by selling the petroleum products back to the government for import.

"The most serious challenges facing the oil industry are smuggling and terrorism. They are both hitting the national economy, robbing Iraq and blocking development," said Oil Ministry spokesman Assem Jihad.

Despite the fact that Iraq has the world's third largest proven oil reserves, the government is forced to import refined oil products to cover domestic demand. As recently as September, the country's three main refineries were working at half their pre-invasion capacity, processing only about 350,000 barrels day compared with about 700,000 barrels a day before March 2003.

Aging refineries, corruption and attacks by insurgents on infrastructure, such as pipelines, have been blamed for the production shortage.

In September, the oil ministry estimated that it would spend $800 million on imported oil products in the last four months of the year.

Many people try to subsidized their meager incomes through purchasing government-priced oil products and selling them to smugglers who take the products by boat or tanker trucks to Jordan, Syria, Kuwait, Iran and the United Arab Emirates.

Jihad said Iraq buys oil for about 54 cents a quart and sells it within the country for between 7 and 13 cents, subsidizing the remainder.

"This is encouraging smuggling to neighboring countries," Jihad said.

Jihad said it was impossible to calculate how much petroleum is smuggled. Sabah al-Saidi, who heads the Iraqi parliament's anti-corruption committee, said the Oil Ministry inspector general has listed 13 Iraqi companies smuggling oil and says they are backed by Iraqi political groups.

"We are losing an average of $700 million a month. Most of the products are smuggled by sea."

In a report two weeks ago on smuggling, Iraqi government said security forces had captured two tanker trucks in the southern province of Basra while trying to smuggle kerosene.

"The main mission at the oil ministry is to eradicate this phenomenon," said Oil Minister Hussain al-Shahristani in a recent television interview.

Amer al-Baldawi, who serves on the Iraqi parliament's economic committee, said one solution would be to raise prices in Iraq to those in neighboring countries.
Gasoline at some Baghdad gas stations costs about a dollar a gallon, but it takes hours of waiting in the line to fill up. On the black market, gasoline costs about $1.40 a gallon.

In the United Arab Emirates, by contrast, it costs about $1.76 a gallon and in Syria and Jordan it's about $2.40 a gallon.

More than 90 percent of the Iraqi government's income comes from oil exports.

Iraq's oil industry losses since Saddam Hussein's ouster in 2003 stand at about $15 billion, Jihad said.

Before the war, the Beiji refinery, the country's largest, produced more than 2.5 million gallons a day, nearly half what the country needed. But, Jihad said, the refinery currently produces only about 400,000 gallons a day.

Oil smuggling first began in the 1990s when Iraq was under U.N. sanctions. The government was in dire need of hard currency, and smuggling oil to Iran and selling it to international markets as Iranian oil was the easiest way to get cash.

The chaotic security situation and continuous attacks on pipelines, tanker trucks and refineries have had an enormous impact on Iraq, which has the world's third largest oil reserves after Saudi Arabia and Iran.

In a bid to curb the smuggling, the government has stopped supplying some gasoline stations near the border and is forcing fishing boat owners to prove they truly are fishing before they can buy gasoline. All boats using the Shatt al-Arab waterway that leads to the Persian Gulf now must be registered.

Originally Posted by Mike5200

It appears that the figures they are quoting are from 2 weeks ago Sun 11/12 and Thurs 11/9. Why would they do this in an article dated today??

MR. GREEN IN IRAQ WITH THE CANDLE STICK!!!



THANKS FOR THE FIND NOW I GO HMMMMMMMM

RV PLEASE BEFORE I MIND IS LOST FOREVER!!

Originally Posted by MrsCK

Yes those are my thoughts too. They stated that in 2005 or 2004 that by the end of 2006 they wanted to "projection achieved" at 1345. But here is something that is a bit buggy to me. Back in August or September they set the RV amount and it was voted on 2 times but then they decided to change the RV amount and had to start allllll over on the 3 votes. So did they stay with the 1345 or change it to something else?? it's a mystery for sure - if it RV's before the 1345 then we know they changed it on the second pass.

Hope this helps.
Chris

We all seem hung up on the 1345 rate by this years end as well as that rumored .04 r/v projection..But, (and I'm paraphrasing here) CBI officials said there would be a significant rise in the value of the dinar to the dollar in 2006, and also that there had to be parity with the IQD and neighboring country's currencies. to me that doesn't mean 1345 or .04. Can I get a witness?!