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

The FI Law has been put back at least a week, not the news we wanted to hear but basically they're not ready for it.

Write off July, it ain't going to happen then afraid to say, look and start thinking towards August. No point in getting down it's only a matter of time.




The meeting resumed with Attiyah to postpone the first reading of the Investment Law and the Law of the sale and import of oil derivatives, According to a request submitted by the Economic Committee, headed by MP Haider Abbadi fact that the authorities were not ready for submission. The draft law includes the right of new investment for foreign investors to own land for residential projects or rent. The Prime Minister Nuri Maliki discussed with the Minister for International Development Hilary British bin last Monday establish development projects in the governorate of Basra, He said that "the draft investment law, which studied the House of Representatives for approval provides adequate safeguards for investors wishing to establish projects in Iraq".

Originally Posted by Adster

The FI Law has been put back at least a week, not the news we wanted to hear but basically they're not ready for it.

Write off July, it ain't going to happen then afraid to say, look and start thinking towards August. No point in getting down it's only a matter of time.




The meeting resumed with Attiyah to postpone the first reading of the Investment Law and the Law of the sale and import of oil derivatives, According to a request submitted by the Economic Committee, headed by MP Haider Abbadi fact that the authorities were not ready for submission. The draft law includes the right of new investment for foreign investors to own land for residential projects or rent. The Prime Minister Nuri Maliki discussed with the Minister for International Development Hilary British bin last Monday establish development projects in the governorate of Basra, He said that "the draft investment law, which studied the House of Representatives for approval provides adequate safeguards for investors wishing to establish projects in Iraq".

I might point out that July is over on Monday...

Also, does the Investment Law need to be approved BEFORE currency reval? Perhaps if you could jot down the steps in order for us...you know...K.I.S.S...Keep It Simple Silly! That would be great! Tiff

Originally Posted by tiffany

I might point out that July is over on Monday...

Also, does the Investment Law need to be approved BEFORE currency reval? Perhaps if you could jot down the steps in order for us...you know...K.I.S.S...Keep It Simple Silly! That would be great! Tiff

Yes Tiff, it does. There are several scenarios floating around at this point. All are positive but in saying this there are a lot of people on the forums that are losing heart as it hasn't happened yet. Exactly what the Iraqi government want, ie for speculators to offload, hence the crap about the zero lop instead of the zero lift articles that were changed/rehashed......

Keep thinking good stuff guys, it'll happen soon. The FI Law is the key, once this is passed we're as good as there IMO.

Okie- Dokie! Thanks!

Originally Posted by tiffany

I might point out that July is over on Monday...

Also, does the Investment Law need to be approved BEFORE currency reval? Perhaps if you could jot down the steps in order for us...you know...K.I.S.S...Keep It Simple Silly! That would be great! Tiff

Yes Tiff, it does. There are several scenarios floating around at this point. All are positive but in saying this there are a lot of people on the forums that are losing heart as it hasn't happened yet. (IIF is the most negative forum out there IMO), I try to go there as little as possible!!. Exactly what the Iraqi government want, ie for speculators to offload, hence the crap about the zero lop instead of the zero lift articles that were changed/rehashed......

Keep thinking good stuff guys, it'll happen soon. The FI Law is the key, once this is passed we're as good as there IMO.

LOL, won't let me delete my post! spot the changes!.....

WASHINGTON -
Iraq's oil production is expected to roughly double over the next four years to 4 million barrels a day, the country's oil minister predicted Wednesday after meeting with U.S. energy officials and executives from nine major oil companies.


"We are increasing production," Hussein al-Shahristani told reporters.

With Iraq's oil infrastructure frequently targeted by insurgents, the country has struggled to resume oil production to prewar levels of about 2.5 million to 3 million barrels a day. As of last May, production stood at about 1.9 million barrels a day, the U.S. Energy Information Administration says.

Al-Shahristani met with representatives of major oil companies, including Exxon Mobil Corp., Chevron, Shell Oil Co., and BP America Inc., to explore ways that these companies might participate in expanding Iraq's oil sector and developing new fields.

Energy Secretary
Samuel Bodman, who sat in on the discussions, described it as "a preliminary meeting" and an exchange of information.

"We are not negotiating with any company yet. We have to do some homework," said Al-Shahristani, adding that many companies have expressed interest in developing new Iraqi oil fields.

Iraq's oil infrastructure has been under repeated attacks from insurgents. From April 2003 to last June there were an estimated 315 attacks on Iraqi energy infrastructure including its oil pipeline system and electric power grid, according to an Energy Information Administration summary.

Iraq's oil industry also suffered during the 1990s when the country under
Saddam Hussein did not have access to state-of-the-art technology or engineering know-how.

But al-Shahristani expressed resounding optimism about the future of Iraq's oil industry and said he was interested in international partnerships to develop fields in all regions of the country. In 10 to 15 years, he told reporters, Iraq will "be in a position to be the second largest producer and perhaps the largest."

Bodman acknowledged that forecast was "quite optimistic."

Iraq is believed to have recoverable oil reserves of 115 billion barrels, second only to Saudi Arabia, with about two-thirds in the southern part of the country, according to the EIA, the U.S. Energy Department's statistical and research agency. In addition, some geologists believe the country may have another 100 billion barrels in its western desert region, which has not been explored.

http://news.yahoo.com/s/ap/20060726/...go_ot/iraq_oil

By Chris Baltimore

WASHINGTON, July 26 (Reuters) - Iraq could sign joint ventures with international oil companies even before the nation's parliament enacts a long-awaited hydrocarbon law, Iraq's oil minister said on Wednesday.

Iraq's oil minister, Hussain al-Shahristani, met with representatives from international oil companies, including Exxon Mobil Corp. (XOM.N: Quote, Profile, Research), BP Plc (BP.L: Quote, Profile, Research), Shell Oil Co. (RDSa.L: Quote, Profile, Research) and Chevron Corp. (CVX.N: Quote, Profile, Research), according to a list provided by the U.S. Energy Department.


The meetings at the department's headquarters were also attended by U.S. Energy Secretary Sam Bodman.

Shahristani said some terms could be signed before Iraq's parliament enacts its hydrocarbon law, which is expected by year-end. That law would allow billions of dollars worth of crucial foreign investment to flow into the Iraqi oil sector.

More @ http://today.reuters.com/stocks/Quot...E-1.XML&rpc=66

I think that Mr. Maliki was incredibly brave to come here and stand up and speak in front of such a daunting group of people. Whatever and whoever he is, bravo sir. I am embarrassed by any of our leaders who threatened to boycott the speech because he refused to speak against Israel. He might as well not go home if he did that, his political place and career would be over and they should know that. I'm so tired of political expediency I could just hurl. Now I'm going to go and write some letters to my senators and congresspersons. Thank God I can do that! Basically I think we can relax until Iraq gets on a little firmer footing. forgive my rant, I feel better.

BoB,
i have read the email joe sent me with the arab no. 2 and 3 looking almost identical, and now am having humble pie for breakfast.

cant say that i am hating being wrong tho!!

worst thing is i dont want to hurt your business bob, or Carlos, so this i am posting.

please accept my humble apology for false accusation, the wait is killing me, thats all it is, sorry to make it your problem. i didnt look with a magnifiying glass. all the other security feaures are in place, its all good.

i had em checked at a curreency exchange place, and they were happy with them after checking against their book.

anyone who read my last post on this topic, its a false alarm. the arab 2,. and 3 look so similar i thought id been scammed. under a lot of pressure financially at the moment and i over reacted.

joe galaxy actually is a great dealer then, really fast and professional.

cheers all
any day now...
G