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

Turkey : Army paid to the protection of oil from Iraq

(Voice of Iraq) - 03-01-2007
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Turkey : Army paid to the protection of oil from Iraq and others
03 / 01 / 2007 Ankara-Hosni local :

The Turkish chief of staff decided to establish a special unit called the 'Mediterranean shield' to protect the port of Ceyhan, which received Iraqi oil and Azerbaijani. Military sources said that the mission of the unit is to monitor all civilian and military movements near the port, which means to stop commercial ships and inspect and make sure that the cargo before approaching the port, The unit also mentioned supported F-16 aircraft-control airspace near the port and protected by Coast Guard boats backed electronic devices monitor all moves unnatural also at the bottom of the sea. It is noteworthy that the port received Iraqi oil pipeline, which springs from Kirkuk and transports about 80 million tons of oil annually, also received the Azerbaijani oil pipeline that will transport about 30 million tons. Ankara is planning to extend the natural gas pipeline, and later the Russian and Iranian Azerbaijan to the port to transform it into an international oil and gas which will be marketed from here to Europe and other countries of the region. And Israel had already expressed its willingness to import Russian gas, which hit the port of Ceyhan pipeline and the extension to the port of Haifa later moved to the Russian or Azerbaijani oil.

IRAN HALTS EXPORTS TO IRAQ VIA MEHRAN, HALABJA BORDER POINTS
ILAM, Iran, 03 January 2006 (Asia Pulse)

The export of goods to Iraq via international border points of Mehran and Halabja has been stopped for five days as of Sunday, December 31, it was announced here on Monday.

Export of non-oil commodities to Iraq via international border points of Mehran (in western Ilam province) and Halabja (in southwestern province of Khuzestan) were stopped due to the request of the Iraqi officials for a five-day holiday on the occasion of Eid-Ul Adha (Feast of Sacrifice), the announcement added.

Mehran border is considered one of the most important points for travel of Iranian pilgrims and export of commodities to Iraq.

IRAN HALTS EXPORTS TO IRAQ VIA MEHRAN, HALABJA BORDER POINTS | Iraq Updates

Iraq Government Focusing on Rebuilding Oil Industry
By Jim Randle
Washington, D.C.
02 January 2007

Iraq's Kurds, Sunnis, and Shi'ites are bickering over how to distribute the nation's potentially vast oil revenue. In the meantime, energy officials are trying to rebuild the battered industry while saboteurs are busy attacking pipelines and other facilities.

An Iraqi oil refinery
Insurgents often attack Iraq's pipelines and other key oil facilities, leaving them in flames.

The damage is frustrating efforts to rebuild Iraq's crucial oil industry, which is the most important sector of the nation's economy.

Iraq currently produces around two and a half million barrels of oil a day, far below its potential. Iraq's Oil Minister, Hussain al-Shahristani, wants to change that. "Our current plan is to increase production of crude oil over the coming five years to between four and four-and-a-half million barrels per day."

Hussain al-Shahristani
Al-Shahristani says he hopes to quickly make deals with major foreign oil companies, and use their advanced technology to help Iraq reach its huge potential.

But former Iraqi Oil Minister Issam Al-Chalabi says the dangerous security situation has kept all but some small foreign companies out of the country.

"There is no way that any company, any proper company, an international oil company or national oil company or anybody with some sense in his mind would be willing to go into Iraq invest money and develop those services."

Al-Chalabi says major oil companies, like ExxonMobil or Shell, are also discouraged by uncertainties over Iraq's proposed laws governing their industry. The political situation is complicated by the uneven distribution of Iraq's oil.

The bulk of the petroleum is in the southern part of the country, mostly populated by Shi'ites. Some Shi'ite leaders are pressing for autonomy for their region. Another portion of the oil is in northern Iraq where many Kurds live. The area already enjoys considerable autonomy from the central government. The center of the country is thought to contain much less oil and is home to the Sunni Arabs who ruled the nation under Saddam Hussein.

Each of the Iraqi factions is bargaining hard for laws that favor their access to this crucial resource. Iraq's new constitution says the nation's oil belongs to all Iraqis, but the rival factions interpret the document in different ways. Kurds have already signed agreements with small foreign oil companies searching for new oil.

But Iraq's Oil Minister al-Shahristani says such contracts should be signed or approved by the central government. That prompted the Prime Minister of the Kurdistan Region of northern Iraq, Nechirvan Barzani, to threaten to break away from the country. And prompted visiting U.S. Secretary of State Condoleezza Rice to try to smooth things over with Kurdistan President Massoud Barzani.

"As for the revenues of oil, stipulated in the constitution, we are for a fair distribution of the oil revenues all over Iraq," said the president.
The Kurdish leader did not repeat his colleague's strong rhetoric in public.



Meantime, the Kurdistan regional legislature has been working on a new "Petroleum Law" while the central government has been working on a new "Hydrocarbon Law."

It is not clear if these different pieces of legislation will resolve the dispute between the central government and the Kurdistan regional government, or ease friction over oil between Sunni and Shi'ites in the south.

But an influential study of Iraq by leading U.S. experts [the Iraq Study Group] called an oil law guaranteeing equitable revenue distribution of revenues crucial to national reconciliation. And experts say clarifying the legal status of foreign oil companies will make it easier for Iraq to attract the foreign expertise and technology needed to rebuild the oil industry.

Iraq has opened some new facilities, such as a refinery in Najaf, with ceremony and heavy security. "God willing, this refinery could process 30,000 barrels a day," said an oil engineer at the refinery.

If political disputes are solved and security improved, many experts say Iraq could eventually produce about six million barrels of crude oil per day.

Former oil minister Al-Chalabi says current high oil prices mean a healthy oil industry could bring in $100-billion a year in revenue, enough to easily rebuild the oil sector -- and fund reconstruction of much of the rest of the troubled nation.

Originally Posted by dafit

picked this up from a currency site, i wonder what
the CBI is going to start with next week.

USD to IQD



View Chart

Saturday, December 02, 2006 1366.3 IQD

Monday, December 04, 2006 1371.4 IQD

Tuesday, December 05, 2006 1369.8 IQD

Wednesday, December 06, 2006 1368.9 IQD

Thursday, December 07, 2006 1365.6 IQD

Friday, December 08, 2006 1373.2 IQD

Saturday, December 09, 2006 1371.9 IQD

Sunday, December 10, 2006 1374.5 IQD

Monday, December 11, 2006 1357.4 IQD

Tuesday, December 12, 2006 1353.3 IQD

Wednesday, December 13, 2006 1361.2 IQD

Thursday, December 14, 2006 1356.4 IQD

Friday, December 15, 2006 1354.5 IQD

Saturday, December 16, 2006 1354.5 IQD

Sunday, December 17, 2006 1355.9 IQD

Monday, December 18, 2006 1348.3 IQD

Tuesday, December 19, 2006 1323.4 IQD

Wednesday, December 20, 2006 1322.4 IQD

Thursday, December 21, 2006 1318.3 IQD

Friday, December 22, 2006 1326.4 IQD

Saturday, December 23, 2006 1325 IQD

Sunday, December 24, 2006 1325.2 IQD

Monday, December 25, 2006 1324.2 IQD

Tuesday, December 26, 2006 1327.8 IQD

Wednesday, December 27, 2006 1279.7 IQD

Thursday, December 28, 2006 1263.6 IQD

Friday, December 29, 2006 1261.5 IQD

Saturday, December 30, 2006 1261.5 IQD

Sunday, December 31, 2006 1261.5 IQD

Monday, January 01, 2007 1260.4 IQD

Dave

Were did you get this chart from? The last amount quoted at the CBI was 1325 IQD and that was on Dec. 27th

Originally Posted by victory777

Were did you get this chart from? The last amount quoted at the CBI was 1325 IQD and that was on Dec. 27th

It's not from CBI, its from one of the currency sites such as oanda or fx....but i sure hope the CBI takes their numbers and runs with them, LOL

Originally Posted by CharmedPiper

Iraq Government Focusing on Rebuilding Oil Industry
By Jim Randle
Washington, D.C.
02 January 2007

Iraq's Kurds, Sunnis, and Shi'ites are bickering over how to distribute the nation's potentially vast oil revenue. In the meantime, energy officials are trying to rebuild the battered industry while saboteurs are busy attacking pipelines and other facilities.

An Iraqi oil refinery
Insurgents often attack Iraq's pipelines and other key oil facilities, leaving them in flames.

The damage is frustrating efforts to rebuild Iraq's crucial oil industry, which is the most important sector of the nation's economy.

Iraq currently produces around two and a half million barrels of oil a day, far below its potential. Iraq's Oil Minister, Hussain al-Shahristani, wants to change that. "Our current plan is to increase production of crude oil over the coming five years to between four and four-and-a-half million barrels per day."

Hussain al-Shahristani
Al-Shahristani says he hopes to quickly make deals with major foreign oil companies, and use their advanced technology to help Iraq reach its huge potential.

But former Iraqi Oil Minister Issam Al-Chalabi says the dangerous security situation has kept all but some small foreign companies out of the country.

"There is no way that any company, any proper company, an international oil company or national oil company or anybody with some sense in his mind would be willing to go into Iraq invest money and develop those services."

Al-Chalabi says major oil companies, like ExxonMobil or Shell, are also discouraged by uncertainties over Iraq's proposed laws governing their industry. The political situation is complicated by the uneven distribution of Iraq's oil.

The bulk of the petroleum is in the southern part of the country, mostly populated by Shi'ites. Some Shi'ite leaders are pressing for autonomy for their region. Another portion of the oil is in northern Iraq where many Kurds live. The area already enjoys considerable autonomy from the central government. The center of the country is thought to contain much less oil and is home to the Sunni Arabs who ruled the nation under Saddam Hussein.

Each of the Iraqi factions is bargaining hard for laws that favor their access to this crucial resource. Iraq's new constitution says the nation's oil belongs to all Iraqis, but the rival factions interpret the document in different ways. Kurds have already signed agreements with small foreign oil companies searching for new oil.

But Iraq's Oil Minister al-Shahristani says such contracts should be signed or approved by the central government. That prompted the Prime Minister of the Kurdistan Region of northern Iraq, Nechirvan Barzani, to threaten to break away from the country. And prompted visiting U.S. Secretary of State Condoleezza Rice to try to smooth things over with Kurdistan President Massoud Barzani.

"As for the revenues of oil, stipulated in the constitution, we are for a fair distribution of the oil revenues all over Iraq," said the president.
The Kurdish leader did not repeat his colleague's strong rhetoric in public.



Meantime, the Kurdistan regional legislature has been working on a new "Petroleum Law" while the central government has been working on a new "Hydrocarbon Law."

It is not clear if these different pieces of legislation will resolve the dispute between the central government and the Kurdistan regional government, or ease friction over oil between Sunni and Shi'ites in the south.

But an influential study of Iraq by leading U.S. experts [the Iraq Study Group] called an oil law guaranteeing equitable revenue distribution of revenues crucial to national reconciliation. And experts say clarifying the legal status of foreign oil companies will make it easier for Iraq to attract the foreign expertise and technology needed to rebuild the oil industry.

Iraq has opened some new facilities, such as a refinery in Najaf, with ceremony and heavy security. "God willing, this refinery could process 30,000 barrels a day," said an oil engineer at the refinery.

If political disputes are solved and security improved, many experts say Iraq could eventually produce about six million barrels of crude oil per day.

Former oil minister Al-Chalabi says current high oil prices mean a healthy oil industry could bring in $100-billion a year in revenue, enough to easily rebuild the oil sector -- and fund reconstruction of much of the rest of the troubled nation.

Isn't this recyled news? The Kurds and Maliki already came to an agreement in the middle of December and the HCL was ratified by the cabinet and is ready to be presented to the Parliament for a vote. I think the source of the article is taking old news an putting today's date on it.

Originally Posted by Wm.Knowles

I think this is a very good read and should put the zero lop/currency exchange finally to bed. Iraq is not in a recession and as the article points out, a currency exchange has grave economic and political costs, not to mention de-stabilizing the countries economy. After all, all of this started when the MOF stated he wanted to remove three zeors from the exchange rate and not the currency. Thank You.

Actually, that's the first time I've heard where the rumor of the zero lop came from. Thanks for the clarification. That shows what their intentions have been all along, in my opinion, so, now, all we need to do is figure out the "when" in their equation. Members here have said over and over that the revalue would be an answer to a lot of their difficulties...now, all we need to do is somehow get them to log on to ROL.

Originally Posted by $onedaysoon$

LEADING STORY

DNO says Iraq oifield tested 8,500 bpd

Norwegian oil company DNO <DNO.OL> said that its Tawke number 4 well in northern Iraq produced 8,500 barrels per day during a test, the most of any well drilled so far on the field.

Noozz.com - Leader in Emerging Market Premium Business Information

CHA CHING!!!!!! WOoT!!!!

Originally Posted by CharmedPiper

Baghdad officials are concerned to go to work next week

(Voice of Iraq) - 03-01-2007
This issue was sent to a friend

Baghdad officials are concerned to go to work next week. Fear of attacks
Holiday was a «» shield them. The security authorities expect a new escalation in violence

Don't these guys work in the Green Zone? Sounds to me like they're making excuses for why they didn't stay home and do their job.

Originally Posted by Dinar Cha Ching

Isn't this recyled news? The Kurds and Maliki already came to an agreement in the middle of December and the HCL was ratified by the cabinet and is ready to be presented to the Parliament for a vote. I think the source of the article is taking old news an putting today's date on it.

Exactly,

Whenever there is a news blackout, we see nothing but recycled and repackaged news bits made to look new, so ignore all such reports whenever there is a news blackout like this week. (g)

Good luck to all, Mike