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

Sorry if already posted

Army engineers work to improve Iraq's oil export
The regime change in Iraq has opened many new opportunities and important development projects in the southern oil fields of Iraq.

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21 December 2006 (AME Info FZ LLC)
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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 This replaces the previous system which was outdated," he added.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.

Follow link and see picture.........is that what I think it is?

Translated version of http://www.alzawraa.net/home/index.php?option=com_content&task=view&id=4880&Ite mid=73
Iraq submitted a request to the Minister of Labor and Social Affairs Arabs in the meetings held at the headquarters of the Arab League in Cairo, to be relieved of debts to the Arab Social Action Fund for the period from 1989 until 2006. The head of the Iraqi delegation to the meetings of the sixth session of the Council of Ministers of Labor and Social Affairs Sheikh Mahmoud Al-Arab Radi, Iraq's keenness on activating the partnership between institutions and Arab social development.

where did the 10,000 dinar statement go? hummmm.....
;)

Translated version of http://www.alzawraa.net/home/index.php?option=com_content&task=view&id=4880&Ite mid=73


The Ministry of Finance allocated eight billion dollars to the bank real estate
المصدر: الزوراءSource : Zawra
21 / 12 / 06
The Ministry of Finance announced the allocation of the amount of eight billion dollars to the bank real estate lending to support the draft citizens soft benefits.
A source in the ministry said, "This project was approved in the 2007 budget as approved by the Council of Ministers to allocate a plot of land for 100,000 housing project in public housing for citizens to be considered in its implementation early next year." ".Pointing out that "the ministry had prepared a plan to support the project and facilitate the process of obtaining the loans by the citizens."
The Board also approved Dhi Qar priority projects proposed by Aldoer on for next year.
A source in the Media Council to maintain "that amount has been allocated 242 billion dinars for the implementation of these projects is distributed in various services sectors in the city."
Pointing out that "the Education and municipalities would receive higher allocations in the budget as it has been monitoring the 35 billion dinars each, followed by the sectors of roads and bridges and health."

Are we sure they did not mean to drop it 1260 from 1470 in 3 months?

1470 - 1260 = 210

That would be an awesome jump!

Originally Posted by rvalreadydang

I think this is a repeat of an art from last week, notice the amount mentioned though "1500" it hasn't been that rate, so where are they getting their numbers?

Justice / follow-An official source at the Ministry of Finance that the government expects the increase in the price of the dinar by 13% against the dollar by early 2007 after raising interest rates to limit the use of the dollar in the economy and curb inflation.

.Pointing out that the government aimed at access at the rate of exchange in to the 1260 dinars to the dollars in the the first three months of 2007 from the current level 1500 dinars of the dollar, "he said, emphasizing that the budget of 2007 supposes the rate of exchange of when 1260 dinars against the dollar adding that the Cabinet would discuss the the draft budget in the hope submitting them to the parliament next week, explaining that the budget will be established on the basis of a dollar rate of 1260 dinars to the dollars and '5' dollars for a barrel of oil with the production of 1,7 million barrels per day, and added that the CBE started raising the rate of interest from 12% to 16% currently pointing to the lack found immediate plans to continue raising interest rate n and pointed Almusdrali that the goal of the RAISE INTEREST RATES is the to strengthen the dinar and the fight against the dollarization and curb inflation and to strengthen the confidence of Iraqis in the local currency affirming that the any economy depends on the dollar longer weak, it is recalled that the Central Bank of Iraq that had been denied earlier that be of the bank faith to determine the or the exchange rate of the dollar against the Iraqi dinar for two reasons First : standby capacities of the bank non-absolute and II is attributable to the increase in factor prices.

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Originally Posted by ForceReK0n

Are we sure they did not mean to drop it 1260 from 1470 in 3 months?

1470 - 1260 = 210

That would be an awesome jump!

They mean bring it down to 1260 in the first part of 2007.

Good morning club members. I hope everyone had a good night and I'm certain you've had a good morning. Gotta love that 13 drop. Biggest one since I've started logging this on my calendar. Have a great day and a Merry Dinar Christmas or New Year. Woooot!

Even as dinar values increase like we've never seen before - the cumulative effect on the pocket book is PEANUTS! This momentum can only be significant if it points to a massive alteration in dinar value!

The CBI is keenly aware that all eyes are on the dinar - but they're only showing us exactly what they want us to see for the time being. They've even set a goal for the dinar value by the end of 2006, in hopes of keeping dinar speculators "in the box".

The CBI's carefully orchestrated footwork - referred to as "crawling and then walking" - is in my view, about to break into a "SPRINT" in time for the New Year. The real significance here is not so much in the journey (tiny increases in value) - but - in the final destination!

Originally Posted by $onedaysoon$

where did the 10,000 dinar statement go? hummmm.....
;)

Translated version of http://www.alzawraa.net/home/index.php?option=com_content&task=view&id=4880&Ite mid=73


The Ministry of Finance allocated eight billion dollars to the bank real estate
المصدر: الزوراءSource : Zawra
21 / 12 / 06
The Ministry of Finance announced the allocation of the amount of eight billion dollars to the bank real estate lending to support the draft citizens soft benefits.
A source in the ministry said, "This project was approved in the 2007 budget as approved by the Council of Ministers to allocate a plot of land for 100,000 housing project in public housing for citizens to be considered in its implementation early next year." ".Pointing out that "the ministry had prepared a plan to support the project and facilitate the process of obtaining the loans by the citizens."
The Board also approved Dhi Qar priority projects proposed by Aldoer on for next year.
A source in the Media Council to maintain "that amount has been allocated 242 billion dinars for the implementation of these projects is distributed in various services sectors in the city."
Pointing out that "the Education and municipalities would receive higher allocations in the budget as it has been monitoring the 35 billion dinars each, followed by the sectors of roads and bridges and health."

Is this the article you mean?:

Azzaman in English

Or are you talking about the 10K handout?

Thank you.

Hello all, just a Q for all how far will the rate of the dinar have to drop before we will be at a break even mark? i was trying to calculate this and I think I need it to be around 1030 to the dollar and I will be at even money!! ( I am no math genus lol)
Great luck to all
Trapper

Guys, the dinar has increased by almost 6% to the dollar this month and 11.5% this year. Wait until next year comes.