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

Abdulhamid wrote : On Tuesday, December 19, 2006 11:59 PM-BT

Najirfan Barzani : We have good positive results with the Iraqi government
From Hamid Zebari
Arbil - (Voices of Iraq)
The President said the government of the Kurdistan Najirfan Barzani in Irbil today, Tuesday, that "good positive results" achieved during the talks with the central government in Baghdad, on a number of disputed issues between the two sides.
He added Barzani during a press conference held this evening, immediately after his arrival in Irbil international airport, returning from Baghdad after a week-long visit, "we have good results. The agreement grants (17%) of the budget of Iraq to the Kurdistan region. "
He continued : "... And on Thursday (the day after tomorrow) will send the resolution to the Iraqi parliament, and we expect to solve this problem without hindrance. " The head of the government of Kurdistan to the Iraqi government "will bring to the government the amount of territory
(364) million dollars remaining from the budget of 2006, "pointing out that this amount" remains with the Iraqi government committed a result of an arithmetical error in calculating the budget, will amount to the Iraqi Kurdistan region until the end of the year on three meals. "
This is the second visit by the Najirfan Barzani to the Iraqi capital within two weeks.
With regard to the oil issue of contention between the territorial government and the Center, Barzani said during the conference, "after lengthy discussions and come to positive results and good, is scheduled to be examined by the
Iraqi Cabinet during the coming days, the oil bill. The transformation of the House of Representatives for approval. "
In response to a question about the control of oil matters, the Chief of the government of Kurdistan, saying "the government's right to discuss the issue of Kurdish oil investment with foreign companies.
And oil imports will be distributed to the regions according to the population. "
He added, "according to the law. The right of the territorial government research projects with the oil companies with the participation of the representative of the Iraqi government, and will be the first to sign oil contracts in Kurdistan. Then sent to Baghdad to retreat by a high-level committee of experts would be the future. "
Barzani explained, "After giving opinions and observations on contracts (by the Committee of Experts) will be the final signing in the Iraqi Kurdistan region."
He added that this measure "in order to give the transparency of contracts, and the prevention of corruption or granted for the companies is not up to the required level."
Barzani pointed out that all Iraqi government officials, including Prime Minister Nuri al-Maliki, "showed full readiness to work on the implementation (Article 140) of the Iraqi Constitution" on the normalization of the situation in Kirkuk.
He said, "committees have been formed. These committees need for the implementation of the Platform for internal functions, the budget has been allocated to it. "
And would meet the troop s, the head of the government of Kurdistan that s, "according to the Iraqi Constitution of the order, and its mission to protect Iraq's Kurdistan region. It must be allocated a share of the budget of the Iraqi Ministry of Defense. "
The Barzani said "call for the share of the budget of the Ministry of Defense to s ... Because they are part of the defense force to Iraq, who guards the Kurdistan region. "
He pointed out that a committee was formed for this purpose, includes the Kurdish party of President territorial government, and his deputy, Rose Nouri Shaways, the Iraqi Deputy Prime Minister Barham Salih, explaining that, so far, "the Committee did not reach any agreement. But we are determined to devote part of the budget of the Ministry of Defense of the Iraqi forces s. "
On the other hand, described the president of the government of the Kurdistan situation in Baghdad "tragic" and said,
"Difficult conditions in Baghdad to a large degree. And regret it, and we are working to be part of the solution and improving the situation. "
He added that the Kurds did not want to be "in favor of any one of the Iraqi political parties" conflicting in Baghdad.
K m

Translated version of http://www.aswataliraq.info/

Fortune flows to Kurdistan

December 2006

Opportunities await investors in Iraq's sole region of promise, but they would be wise to proceed with caution. Echirvan Barzani, the dapper and personable prime minister of the Kurdistan Region, clearly loves a challenge. Like Sheikh Rashid bin Saeed Al Maktoum, the visionary ruler of Dubai who is credited with transforming the emirate from a pearl diving backwater to an international business hub, Barzani intends to turn his part of the world - northern Iraq -into Iraq's commercial gateway. He has his work cut out for him. Northern Iraq might be an oasis of calm compared with the rest of the country, but it is not immune to the chaos that reigns in the south. Infrastructure is next to non-existent, as are the legal and financial frameworks necessary to do business. But in early July the Kurdistan Parliament passed the Foreign Investment Law, which allows for full ownership and repatriation of profits, and, in the words of Barzani, is "characterized by fairness, equitable treatment for all investors, appropriate legal guarantees and, of course, incentives for foreign businesses." In the same vein, energetic campaigns are being waged in the US and Europe to promote what they've dubbed "the other Iraq." Investors who are being wooed are advised they should not be distracted by the often sensationalized media reports of what is going on in the rest of Iraq, as the relatively secure and stable Kurdistan Region offers lucrative business opportunities in the midst of the large-scale reconstruction efforts currently underway.At the Second International Construction Innovations Conference, held in Illinois in October, Qubad Talabani, the son of Iraqi President Jalal Talabani, and the Kurdistan Regional Government's (KRG) representative in the US, cajoled investors not to wait for "Iraq to become Switzerland before investing," as they would lose out to foreign companies that are already beginning to do business in the region. Opportunities are aplenty, but that is only because the country is a virtual blank slate. What destruction wasn't visited on it by Saddam Hussein the Kurds themselves have done through incessant infighting, which broke out soon after autonomy was wrested from Baghdad in 1992. Progress now at hand. But with its newfound stability has come progress. Erbil, the capital, is casting off its dowdy provinciality. A gleaming new shopping center, the New City Mall, was recently inaugurated, a North American-style mall that is an abrupt departure from the bazaars that still supply everything from burkas to bread. Already immensely popular, the mall expects to attract big name retailers from the Gulf and Europe, and the fact that most Kurds earn between $300 and $800 a month is not proving to be a hurdle. In fact, confidence in the future takes little account of present realities. Instead, the Dubai pragmatism of "build it and they will come" dictates decision-making. A few months ago, the KRG announced it wanted to duplicate Dubai Media City, the sprawling complex in the UAE that employs thousands of journalists, designers and advertising people.In the neighboring city of Suleimanieh, which has been the stronghold of the Patriotic Union of Kurdistan (PUK) - the party headed by Iraqi President Jalal Talabani - reconstruction is moving at a slower pace: the authorities are still sidetracked by internal party squabbles, and economic progress is hampered by indecision. Typically, the PUK's AsiaCell telecoms network hasn't been given permission to operate in Erbil, and politics is the reason. Old grievances die hard, even though the two ruling Kurdish parties - the other being the Kurdistan Democratic Party (KDP) headed by Iraqi Kurdistan's President Massoud Barzani - have now united to form the KRG. Foreign businessmen warn newcomers to exercise caution and educate themselves before venturing into this uncharted territory. Lines demarcating the jurisdiction of the Kurdish authorities and the central Iraqi government are still hazy, and political tensions between the Baghdad government and the Kurds, who want full independence, still run strong. Many of the lucrative petroleum contracts signed by the Kurdish authorities with foreign firms are not honored by the central government in Baghdad. Handshake agreement. Because no international banks operate in the region, no letters of credit can be issued for Kurdish firms seeking to do business with foreign firms. Foreign firms must enter into an agreement on the basis of a man's honor, a risky if sometimes effective approach, or pay cash in advance. Said one European worker in Suleimanieh, who had been forewarned and acted on it: "Our company got a pretty good deal with the local government. We do the work only if we have been paid for it in advance, otherwise we stop everything. We've seen what happens to other companies, and we don't want that to happen to us. Payment is a big problem here ... and if they don't pay you, you have no legal recourse in Kurdistan. All you can do is cut your losses and leave." Inevitably, given the parlous state of the legal structure, corruption has surfaced. It doesn't help that much of the business world revolves around the Barzani family. In an interview in May, Prime Minister Nechirvan Barzani, who is the nephew of President Massoud Barzani, tried to play down suggestions that the Barzanis were an oligarchy: "Anyone who calls himself Barzani may not necessarily be related to the family. It is a big clan. If you ever visit the Barzan you will find many people who call themselves Barzani but who are unrelated to the family." Even so, bigness seems to be the sticking point. Small local firms complain that the new foreign investment law will make it harder for them to compete with experienced outsiders from Baghdad and elsewhere for the most lucrative government contracts. They believe the KRG must safeguard the local economy by requiring foreign investors to partner with local firms. "The KRG should follow the model of successful Gulf countries, where you can't even own a taxi cab without giving a 51 percent share to a local businessman," says Chato Dizayee, the managing director of Broosk Trading & Contracting, the Dubai-based e-commerce software developer. "For example, in the UAE, you need a local sponsor to do any kind of business. Why not do the same here? Why not force foreigners to forge joint ventures with local businessmen?" Smooth operators. Already several large Baghdad businesses have relocated to the Kurdish Region, bringing their manpower with them. During Saddam Hussein's rule, these firms built bridges and other infrastructure commissioned by the government and supplied the army. Their staff members are seasoned operators and highly skilled. Dizayee, who opened his Erbil office in 1998, says, "Small local businesses are feeling the pressure. Those local businessmen who started up recently don't have as much experience as Baghdad companies that had the benefit of years of dealing with the contracts of the Iraqi army." In the tenders for government projects, all investors - whether, Kurdish, Iraqi or foreign - compete on an equal footing. From there on in, however, the professionals are soon separated from the amateurs. The professionals use their supply lines to bring in their materials and equipment sourced from reputable companies. The amateurs succumb to the "bazaari" mentality, buying cheaper, often Chinese-made, materials and equipment locally. The KRG government is powerless to stop the practice. "The government may not be able to stop the import of cheap TVs and other household things, but for specialized machinery and other strategic [goods], we must start to reconsider our way of thinking," says Dizayee. "I am the sole agent for my products in this region, and when I sell anything to any office or ministry, I give them a certificate of origin, even when they don't ask for it. I give it and I advise them to ask for it in the future." Setting a good example. Dizayee suggests the government begin by buying approved materials and equipment for its projects in order to set a precedent for the private sector to follow. "Most people don't realize the long-term benefits of investing in better quality materials," he says. "It is ironic because the average farmer in Kurdistan may spend more money on a better tractor because he knows what's good and what's bad; but many local businessmen still haven't caught on. In the construction industry, for example, they are still buying cheap Chinese goods or, even worse, they bring in old, used equipment left over by neighboring countries, such as the UAE or Jordan." Can the turbulent region hope to attract foreign direct investment? While the Kurds have managed to ward off terrorist infiltration so far, the political future of "Kurdistan" remains uncertain. The Kurdistan Region's relations with its neighbors are nascent at best, which means disputes have not yet reached a diplomatic outcome. Turkish firms may have availed themselves of most of the big contracts in Kurdistan, but the Turkish government is still fuming over the KRG's reluctance to do anything about the PKK guerrillas hiding in the northern reaches of the border country, even though the central Iraqi government has outlawed the group. And, though an ethnic Kurd has been made President of Iraq and is urging Iraqi solidarity at a time when sectarian tensions are at their highest, the KRG is working against him by taking unilateral decisions such as ordering the removal of the official Iraqi flag from Kurdish territory, thereby arousing the ire of even those Iraqi Arabs who were never allied with Saddam Hussein's Baathists.

Fortune flows to Kurdistan - Zawya.com | Middle East Business News

Originally Posted by phone guy

They will probably sneek an ammendment in

Sorry phone guy, there's going to be no "sneaking " on this or any issue. When someone wins an issue, there going to announce it, at least when its a " BIG " win.

Gloribee

Originally Posted by Gloribee

Sorry phone guy, there's going to be no "sneaking " on this or any issue. When someone wins an issue, there going to announce it, at least when its a " BIG " win.

Gloribee

Sorry Gloribee I'm not the sharpest knife in the drawer. Could you explain what you mean? I'm assuming you were reffering to art. 110 (I think), but what is going on with that.

Army Engineers Work to Improve Iraq's Oil Export

BASRAH, Iraq, Dec. 19 /PRNewswire-USNewswire/ --

The regime change in Iraq has opened many new opportunities and important development projects in the southern oil fields of Iraq. The U.S. Army Corps of Engineers (USACE) is working on various projects to ramp up oil production for the new democratic country and help improve Iraq's economy.

One important project is the Al Basrah Oil Terminal (ABOT), formerly
known as Mina Al-Baker. ABOT is considered to be the gateway to Iraq's
prosperity.

"Right now oil is Iraq's major export. It isn't easy to increase oil
exports, but the Corps has plans of raising the crude output to meet three
million barrels per day in 2007," said Bob Tillisch, oil program manager
with the Basrah Area Office of the Gulf Region South District. He said
experts estimate Iraq has about 115 billion barrels of oil reserves,
concentrated mainly in the south.

"The main objective of the ABOT development project is to create a
strong and reliable source of income for Iraq, improve Iraqi living
conditions, and create new opportunities for employment," Tillisch said.

During Phase One of the refurbishment of ABOT, according to Tillisch, a
hydraulic bridge system was installed at Platforms A and B, and the
telescopic platform bridging systems at Berths 1, 2, 3 and 4 were removed,
repaired and reinstalled. Also, the hydraulic power units, the directional
control valves and other system-critical equipment were refurbished.

ABOT previously operated without a functioning fire and gas protection
system, Tillisch explained, and there were no fire or gas detection sensors
or pressure alarm systems. The emergency shutdown valves were either
corroded or missing, and the firewater pumps did not work effectively.

"During Phase Two, we (USACE) provided a modern fire-fighting system
with both diesel and electrical fire-water pumps throughout the platform in
case of fire. Also, this new system will have fire-fighting foam
capabilities in order to increase its effectiveness. This replaces the
previous system which was outdated," he added.

At present, there is no effective way of metering how much oil is
loaded on board tanker ships. Iraq's South Oil Company (SOC) has to measure
the cargo tanks by hand.

USACE will supply modern metering devices for platforms A and B,
Tillisch said, which will ensure that the total amount of oil exported from
the ABOT can be accurately measured electronically.

"The renovation includes new radio communication equipment at eight
sites throughout the southern Iraq oil fields and refineries including the
ABOT," Tillisch said. "This will ensure that pumping oil from the mainland
to the ABOT can be done more safely and effectively by a modern
communication system.

"The installation of radios, battery back up systems and new microwave
dishes will greatly increase safety to enable the South Oil Company to
start and shut down in an orderly and efficient means. In case of an
emergency at the ABOT, all pump stations can be shut down immediately. Such an action will increase the safety in case of fire here at the ABOT," he
said.

USACE will provide an emergency shutdown system for Platforms A and B,
according to David Anderson, a construction representative with the Basrah
Oil Office.

"This will consist of an electrical control station and all associated
wiring and valves," Anderson said. "In case of an emergency, the SOC
operators will have a safe and efficient means to turn off the loading to
the oil tanker which is tied alongside the pier."

In order to provide a reliable source of lighting and power for ABOT,
USACE refurbished the four old diesel generators installed in 1979. The
Corps also is providing life-saving equipment and life rafts for evacuation
from ABOT in case of an accident.

"Remember, being on the ABOT is almost like being on a ship," Anderson
said. "All SOC personnel can safely use the SOLAS (Save Our Lives at Seas)
equipment, which are approved life-saving boats."

For Anderson, this $50 million project has been designed to increase
the terminal's loading capacity to three million barrels of oil per day,
and to enhance the reliability and safety of the terminal operations. The
ABOT program will help all of Iraqi's people.

Note: Mr. A. Al Bahrani is a public affairs specialist at the U.S. Army
Corps of Engineers, Gulf Region South District. For more information,
contact James Bullinger, public affairs officer at (540) 665-2656. E-mail
requests can be sent to [email protected]. For more
information on the U.S. Army Corps of Engineers in Iraq, visit
Gulf Region Division.

Army Engineers Work to Improve Iraq's Oil Export

seems like somethings 'in the air'.....2 weeks ago when Orchid mentioned NID's to me i went to eBay and there was no less than 775-800 auctions
running selling them....now, some 14-16 days later there is 1/2 that many
and some at a 'higher price' than before....imo, these dealers/sellers/exchangers are starting to hold back....it surely cant be cuz they are running out of them.....just an observation i thought i'd throw in...
btw...i did get some, but not off ebay....i went to the local Chase Bank here.

Dec. 19, 2006

Ensign backs idea of setting up Iraq 'oil trust' to share wealth

WASHINGTON -- The surest way to rebuild Iraq is to put money in people's pockets, Sen. John Ensign, R-Nev., said Monday as he promoted the idea of apportioning the country's oil revenues among Iraqi citizens.
An Iraqi "oil trust" could be modeled after the fund that distributes royalties from North Slope oil production to citizens of Alaska, he said.

The prospect of oil paydays would give Iraqis incentive to keep pipelines open and undamaged, reject the insurgency and help the economy grow, Ensign said.
It also could demonstrate the United States is not in Iraq for its oil, as many critics have charged, he said.

"Our generals say there is not a military solution that can work in Iraq, it needs a political solution, and this is a big political solution," Ensign said.
The idea is not new. It has circulated in think tanks and in Congress and among Bush administration officials since before the United States invaded Iraq in March 2003.

But Ensign said the administration has been reluctant.
During private meetings he urged Bush, Secretary of State Condoleezza Rice, former Defense Secretary Donald Rumsfeld and other top officials to pursue the Iraqi oil trust but he saw few results.

"They think it is a good idea but they don't think they can force the Iraqis to do this," Ensign said.

A State Department spokesman said Monday the Bush administration's position is that oil revenue sharing "is a decision for the Iraqis to make."

Ensign said he quietly promoted the concept through his membership on the Senate Armed Services Committee, allying with Sen. Hillary Clinton, D-N.Y.
On Monday, the senators advocated the oil trust in an opinion article published in the Wall Street Journal.

"Oil revenues would accrue to the national government and a significant percentage would be divided equally among ordinary Iraqis, giving every citizen a stake in the nation's recovery and political reconciliation," the senators wrote.

"We have gone public to put more momentum behind it now that the administration seems willing to do some changes" in Iraq, Ensign said. "Maybe it is time they can be more forceful with the Iraqi government."

Although it is not a matter that Congress can put into practice through legislation, Ensign said he may seek support for a formal resolution that would put the U.S. Senate on record on the oil trust.

Al-Sabah, the newspaper of Iraq's government, reported earlier this month the Iraqi parliament is discussing a draft bill to set aside 30 percent of oil sales income to distribute among citizens, according to Mohammed Fadhil, an Iraqi blogger.'

In an interview, Ensign suggested about 40-50 percent of the oil funds could be redistributed to the Iraqi people, perhaps as cash or as ownership shares that could be traded or used as collateral to get a loan or start a business.
"It would help the whole economy," Ensign said.

The U.S. Energy Information Administration projects Iraq will earn about $32 billion from oil exports this year, analyst Erik Kreil said.

Iraq's total population is 26.8 million, according to a July estimate by the Central Intelligence Agency.

If half the oil revenue were shared, each Iraqi could receive $580, with promises of more as the economy improves and oil production picks up. The average annual Iraqis' income in 2004 was $800, according to the Institute for Policy Studies.

Bruce Everett, a former executive in the Middle East for ExxonMobil, said revenue sharing with the citizenry through an oil trust "is the right idea," but he questioned what it would take to work in Iraq.
reviewjournal.com -- News - Ensign backs idea of setting up Iraq 'oil trust' to share wealth

I was just checking out the dinar prices and once again Ebay is mirroring the world dinar market. There are only 435 auctions running. This is down over 200 auctions from what it has been over the last 6 months. The prices are getting crazy. The guys from Arizona are now asking $925.00 per million for 25,000 dinar notes. There are very few auctions for amounts over 1/2 million. I take all of this as a great sign of things to come.

Originally Posted by neno

If this Article has any credit at all, then we have a few more months to go. By what it says, I would say so.

I can deal with a few months ...it when it gets to years that bothers me. It is what it is and i will wait and be thankful for what i have and what i might get

Originally Posted by mewannapeg

Abdulhamid wrote : On Tuesday, December 19, 2006 11:59 PM-BT

Najirfan Barzani : We have good positive results with the Iraqi government
From Hamid Zebari
Arbil - (Voices of Iraq)
The President said the government of the Kurdistan Najirfan Barzani in Irbil today, Tuesday, that "good positive results" achieved during the talks with the central government in Baghdad, on a number of disputed issues between the two sides.
He added Barzani during a press conference held this evening, immediately after his arrival in Irbil international airport, returning from Baghdad after a week-long visit, "we have good results. The agreement grants (17%) of the budget of Iraq to the Kurdistan region. "
He continued : "... And on Thursday (the day after tomorrow) will send the resolution to the Iraqi parliament, and we expect to solve this problem without hindrance. " The head of the government of Kurdistan to the Iraqi government "will bring to the government the amount of territory
(364) million dollars remaining from the budget of 2006, "pointing out that this amount" remains with the Iraqi government committed a result of an arithmetical error in calculating the budget, will amount to the Iraqi Kurdistan region until the end of the year on three meals. "
This is the second visit by the Najirfan Barzani to the Iraqi capital within two weeks.
With regard to the oil issue of contention between the territorial government and the Center, Barzani said during the conference, "after lengthy discussions and come to positive results and good, is scheduled to be examined by the
Iraqi Cabinet during the coming days, the oil bill. The transformation of the House of Representatives for approval. "
In response to a question about the control of oil matters, the Chief of the government of Kurdistan, saying "the government's right to discuss the issue of Kurdish oil investment with foreign companies.
And oil imports will be distributed to the regions according to the population. "
He added, "according to the law. The right of the territorial government research projects with the oil companies with the participation of the representative of the Iraqi government, and will be the first to sign oil contracts in Kurdistan. Then sent to Baghdad to retreat by a high-level committee of experts would be the future. "
Barzani explained, "After giving opinions and observations on contracts (by the Committee of Experts) will be the final signing in the Iraqi Kurdistan region."
He added that this measure "in order to give the transparency of contracts, and the prevention of corruption or granted for the companies is not up to the required level."
Barzani pointed out that all Iraqi government officials, including Prime Minister Nuri al-Maliki, "showed full readiness to work on the implementation (Article 140) of the Iraqi Constitution" on the normalization of the situation in Kirkuk.
He said, "committees have been formed. These committees need for the implementation of the Platform for internal functions, the budget has been allocated to it. "
And would meet the troop s, the head of the government of Kurdistan that s, "according to the Iraqi Constitution of the order, and its mission to protect Iraq's Kurdistan region. It must be allocated a share of the budget of the Iraqi Ministry of Defense. "
The Barzani said "call for the share of the budget of the Ministry of Defense to s ... Because they are part of the defense force to Iraq, who guards the Kurdistan region. "
He pointed out that a committee was formed for this purpose, includes the Kurdish party of President territorial government, and his deputy, Rose Nouri Shaways, the Iraqi Deputy Prime Minister Barham Salih, explaining that, so far, "the Committee did not reach any agreement. But we are determined to devote part of the budget of the Ministry of Defense of the Iraqi forces s. "
On the other hand, described the president of the government of the Kurdistan situation in Baghdad "tragic" and said,
"Difficult conditions in Baghdad to a large degree. And regret it, and we are working to be part of the solution and improving the situation. "
He added that the Kurds did not want to be "in favor of any one of the Iraqi political parties" conflicting in Baghdad.
K m

Translated version of http://www.aswataliraq.info/

Good find…get it done!