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

Originally Posted by CharmedPiper

WHERE'S THE WOOOOOOTS!!!!! COME ON PEOPLE.......OUR DINAR ARE ABOUT TO BE SWIMMING IN OIL!!!!!

CharmedPiper...You are a NEWS DYNAMO!! WOOOOOOOOOOOOOOOT!!!!

1987 DINAR WAS $3.22 AND THAT WAS A DEVALUED AMOUNT SINCE IT WAS DEVALUED IN 1985 BY 5%

Originally Posted by CharmedPiper

1987 DINAR WAS $3.22 AND THAT WAS A DEVALUED AMOUNT SINCE IT WAS DEVALUED IN 1985 BY 5%

HOLY SHIWWWWWOOOOOOTTTTTTTT!!!!!!!!!!

Originally Posted by CharmedPiper

Scotsman.com News - International - Iraqis near to a deal on sharing oil wealth

Scotsman, United Kingdom - 1 hour ago

Iraqis near to a deal on sharing oil wealth

IN BAGHDAD

IRAQI officials are near agreement on a national oil law that would give the central government the power to distribute current and future oil revenues to the provinces or regions, based on their population.

If enacted, the measure could help resolve a highly divisive issue that has consistently blocked efforts to reconcile feuding ethnic and sectarian factions. Sunni Arabs, who lead the insurgency, have opposed the idea of regional autonomy for fear that they would be deprived of a fair share of the country's oil wealth, which is concentrated in the Shi'ite south and Kurdish north.

The Iraq Study Group report stressed that an oil law guaranteeing an equitable distribution of revenues was crucial to the process of national reconciliation, and thus to ending the war. Without such a law, it would also be impossible for Iraq to attract the foreign investment it desperately needs to bolster its war-ravaged oil industry.

A deal could be reached within days, according to officials. The major remaining stumbling block concerns the issuing of contracts for developing future oilfields. The Kurds are insisting that the regions reserve final approval over the contracts, fearing that if that power were given to a Shi'ite-dominated central government, it could ignore proposed contracts in the Kurdish north while permitting them in the Shi'ite south.

The national oil law lies at the heart of debates about the future of Iraq, particularly the issue of a strong central government versus robust regional governments.

On the drafting committee, Sunni Arabs have allied with the Shi'ites against the Kurds, who have sought to maintain as much regional control as possible over the oil industry in their autonomous northern enclave. Iraqi Kurdistan has enjoyed de facto independence since 1991, when the American military established a no-flight zone above the region to prevent raids by Saddam Hussein.

General George W Casey, the senior US commander in Baghdad, and Zalmay Khalilzad, the US ambassador, have urged Iraqi politicians to put the oil law at the top of their agenda, saying it must be passed before the end of the year.
The drafting committee is made up of politicians from the main Shi'ite, Sunni and Kurdish blocs in government. They began talks months ago, but the pace picked up recently.
At the start, the Kurds fought to ensure that regional governments had the power to collect and distribute revenues from future fields. They also proposed that revenues be shared among the regions based on both population and crimes committed against the people under Saddam's rule. That would have given the Kurds and Shi'ites a share of the oil wealth larger than the proportions of their populations.

But those demands have now been dropped, said Barham Salih, the Kurdish chairman of the drafting committee. "Revenue sharing is an accepted principle by all the constituent elements of the Iraqi government, including the Kurds, and that is the unifying element that we're all hoping for in the oil law."
The Kurds are willing to make concessions because a national oil law could attract more foreign oil companies to exploration and development in Kurdistan.

Some Kurdish leaders also believe that the concessions are a worthwhile price to pay for having a stake in the much larger revenue pool of the country's oil industry. The southern fields accounted for 85% of Iraqi crude production last year, partly because northern production was hampered by insurgent sabotage. The south has an estimated 65% of the country's 115 billion barrels of proven reserves.

The working draft of the oil law re-establishes the state-run Iraq National Oil Company - founded in 1964 to oversee oil production but shut down by Saddam in 1987 - and sets production thresholds for creating new regional companies.

WOW!!!!!!!

OMG I can not believe the amount of news and articles and statements that are coming out for the last couple of days. I am trying not to get too excited but they are definitely preparing for something.

This deserves a you know what!!!!!!

KITTY WIGGLE!!!!!!!!

Dinar-Excited

Iraqis near agreement on oil revenue sharing - Africa & Middle East - International Herald Tribune

Iraqis near agreement on oil revenue sharing
By Edward Wong Published: December 8, 2006

BAGHDAD: A group of Iraqi politicians and ministers is close to finishing a draft of a national oil law that, if enacted, would be the most significant legislation passed by the government so far and help narrow some of the country's major political schisms, Iraqi and American officials say.

The officials said the authors have reached agreement on one of the most divisive issues in Iraq: How revenues from the oil industry should be distributed. The working draft calls for the central government in Baghdad to collect oil revenues and distribute them to provinces or regions based on population, the officials say. The measure could calm some Sunni Arabs who oppose regional autonomy because of fears that Sunnis would be excluded from a fair share of oil wealth, which is concentrated in Shiite and Kurdish regions.

The law could also encourage foreign investment in the oil industry, although security would remain a major concern for companies operating outside the relatively safe region of Iraqi Kurdistan.

The national oil law lies at the heart of debates about the future of Iraq, particularly the issue of having a strong central government or robust regional governments. The question of oil has also exacerbated sectarian tensions, because of the worries of Sunni Arabs, who are leading the insurgency, over the potentially lopsided distribution of oil wealth.
Related Articles

Iraqis near agreement on oil revenue sharing
General George W. Casey Jr., the senior American commander here, and Zalmay Khalilzad, the U.S. ambassador, have urged Iraqi politicians to put the oil law at the top of their agendas, saying it must be passed before the year's end.

The report released this week by the Iraq Study Group said an equitable oil law was a necessary cornerstone to the process of national reconciliation, and thus to ending the war.

A final sticking point over approval of oil contracts remains, so there is a chance that parts of the working draft could be scrapped. But a deal could be reached within days, according to officials involved in the writing. The law would then go to the cabinet and Parliament for approval.

The Kurds, who already have an autonomous region in the north, had put up a fight to have regional governments collect and redistribute oil revenues, particularly ones from oil fields yet to be exploited. They had also proposed that revenues be shared among the regions based on both population and crimes committed against people under Saddam Hussein's rule. That would give the Kurds and Shiites a share of the oil wealth larger than the proportions of their populations.

But the Kurds on the drafting committee have shelved those demands, said Barham Salih, a deputy prime minister who is a Kurd and chairman of the committee.

"Revenue sharing is an accepted principle by all the constituent elements of the Iraqi government, including the Kurds, and that is the unifying element that we're all hoping for in the oil law," Salih said in an interview.

An American official here who has tracked the negotiations said the Kurds were willing to make concessions because a national oil law could attract more foreign oil companies to exploration and development in Kurdistan. A large foreign oil company would have more confidence in signing a contract with the Kurds if the company were to operate under the law of a sovereign country rather than just the law of an autonomous region, the official said on the condition of anonymity.

Furthermore, the official said, some Kurdish leaders believe that the concessions are a worthwhile price to pay for having a stake in the much larger revenue pool of the entire country's oil industry. The southern fields of Basra accounted for 85 percent of total Iraqi crude production last year, partly because northern production was hampered by insurgent sabotage. The south has an estimated 65 percent of the country's 115 billion barrels of proven reserves.

But the Kurds are still holding out on the issue of oil contracts. They insist that the central government should not have final approval over contracts signed by the regions to develop future oil fields, American and Iraqi officials said. The Kurds, who have recently discovered two new fields in the north after signing exploration contracts with a Turkish company and a Norwegian company, argue that the Constitution guarantees the regions absolute rights over such contracts.

Originally Posted by CharmedPiper

WHERE'S THE WOOOOOOTS!!!!! COME ON PEOPLE.......OUR DINAR ARE ABOUT TO BE SWIMMING IN OIL!!!!!

Charmed you are becoming one of the most valuable individuals in this place. The great news you keep finding and posting is so valuable. You are on of the reasons I stay in this investment and why this forum is so informative. Keep up the good work.

Clarification from the office of Dr Barham Salih

12/8/2006 KurdishMedia.com
Clarification from the msg from office of Dr Barham Salih

To: The Editor of Kurdmedia.com

An article by Mr. Hawre Mahmud attributed to me "welcoming the Baker-Hamilton report." This quote is taken totally out of context. I have said on the record while some of the recommendations by the report concur with the views of the Iraq, in particular with regard to the transfer of security responsibilities to the Iraqi Government, there is no way that we accept any recommendations that violates the constitutional base of the political process-and that we cannot accept domination of Iraqi by neighbors whose interests do not necessarily concur with that of the Iraqi people.

As to recommendations suspending constitutional provisions, such as Article 140 calling for normalizing the situation of Kirkuk, is unacceptable as this will only mean further instability and injustice and it is a clear violation of the constitutional obligation of the Iraqi government.

We would be grateful if you would set the record straight.

Spokesman for Dr Barham Salih
Baghdad

Note: Dr Barham Salih misquoted in the London based daily Arabic Sharq Awsat, 08 December 2006: Patriotic Union of Kurdistan

The Jordanian Mash Company will execute the project at a cost of $700 million.

A Jordanian company has begun construction of a large electricity station in Chamchamal, located southeast of Kurdistan Region, local media, reported.
The Jordanian Mash Company will execute the project at a cost of $700 million. It is expected to be complete in one year.

The mayor of the town has stated that 204000 sq/m of land have been given to the company to build on. The station will generate 350 megawatts of electricity and will increase that amount to 750 megawatts by 2008.

Source: The Kurdish Globe




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Posted on Saturday, December 09 @ 08:51:05 PST by admin

Commercial projects which fulfilled by Ministry of Water Resources during recent year reached to 168 projects cost 163 billion dinars in all provinces included in Ministry's budget which reaches to 300 billion dinars of 2006, General Director of General Directorate of Commercial Affairs at Ministry Ghazi Abdurrahman said.

He added that projects divided by 41 projects in provinces cost 56 billion dinars and it's costs by 77.5 billion dinars and 47.6 million $ and 8.1 million Euros and it's include also importing 18 hydraulic diggers and laboratory equipments and other equipments.
Source: Al Sabaah




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Posted on Saturday, December 09 @ 08:41:48 PST

A delegation of Kuwaiti companies visited Kurdistan in search of investment and construction opportunities for a number of big projects, local media reported.

A delegate representative of General Stores told the media that opportunities to invest in the Kurdistan Region are excellent. "We have prepared ourselves for two projects: One of them is the construction of a unit in Erbil, comprising a four-star hotel, a big trade centre, a cinema, and settlement units. The second one, which is only in the studying phase, is construction of a free trade zone," the director of Land's National Company, a member of the delegation, said.
Lately, a large number of companies from various countries have made Kurdistan Region one of their primary destinations for investment, due mainly to stable security conditions.

Source: The Kurdish Globe




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Posted on Saturday, December 09 @