Thread: Archive News - Iraqi Dinar Think Tank - 08/09/09 - 09/01/10

Committee on Oil & gas is the conclusion of oil contracts with foreign companies "invalid"

Commission held oil and natural gas, and, Sunday, the conclusion of contracts for oil fields in the South Rumaila, North and West Qurna and Humpback by the Oil Ministry with foreign companies "invalid" ...

The commission member said Noureddine Hayali at a news conference at the parliament building and attended by agency (Voices of Iraq), that the Commission "is the conclusion of contracts by the Ministry of the special oil fields in southern and northern Rumaila, Zubair, West Qurna, Humpback and other contracts signed planned invalid because they violate the Constitution and laws".

He explained that his commission "stands in front of the challenges of the Oil Ministry as of right as a constitutional and legal rules of procedure of Parliament, which includes the control and supervision on oil policy, natural resources," pointing to the fact that its previously warned the ministry "of the conclusion of oil and gas contracts with foreign companies without assignment of contracts to the Parliament for discussion and issue a special law."

The Parliament Select atheist ten this month, the date for the questioning of the Minister on matters related to oil in the performance of the ministry and the oil contracts concluded with international companies in the last period.

Hayali added that "the oil ministry over the parliament Refusing to bow to the Constitution and the laws in force" and warned foreign oil companies of "enter into contracts with the Iraqi Oil Ministry, without a special law for each contract oil or gas by the Iraqi parliament."

For his part, new member of the Attorney Jaber Khalifa Jaber invited to "hold a special session to question the oil minister Hussain al-Shahristani in the 11 of November the present, as determined by the President of Parliament."

Jaber explained that "the inquiry session will be held even in the absence of al-Shahristani and take action in absentia to a vote of confidence from it," noting that "the information received by the Committee refers to the intention of al-Shahristani, to travel to Saudi Arabia, but the Committee wished to attend the questioning session before leaving."

The committee member Abdullah Iskandar said that travel by Oil Minister Hussain al-Shahristani, to perform the Hajj will not affect the process of questioning in Parliament, pointing to the possibility of postponing the interrogation until the return of the minister because it does not conflict with the law.

http://translate.googleusercontent.c...UkhzVdKNvMWc5A

Jubouri for (News): I ask Hashemi personally "to overturn the election law or article VI of the re-vote

A member of the House of Representatives Abd Mutlaq al-Jubouri said the rules of procedure says must Tqra Article VI of the Electoral Act, which is for the city of Kirkuk, the first reading and read four days after a second reading and then be voted and that did not happen, but the practice has been to read the article and quickly.

"Jibouri told (news) that the article passed without any certainty the number of voters. He did not specify the record number that can be adopted in the elections, leaving it to the Office." The Commission has certainly "choose 2009 and records these records we doubt by the presence of a considerable over the the presence of an increase of 500 thousand people from one component and this takes away the right of Arabs and Turkmen in the election and leads to the removal of voters on the election, means eliminating Mkunyen presidents of the elections and the absence of consensus, I call upon the Prime Minister using his legal and constitutional to postpone the elections in Kirkuk for six months while checking the electoral register correctly, but I can not guarantee the political and security situation in the province and continued Jubouri also asking for the Presidency to return the Article VI of this law and private Kirkuk and not approved for lack of a national consensus and Tareq al-Hashemi called on personally, "to overturn the law. and on the time set aside if the constitutional law of the presidency between Jubouri possible solution is to postpone elections for six months and check the records and not the end of the world to postpone the elections in Kirkuk, the Constitution within the right of the Prime Minister to postpone the elections if there were dangerous.

http://translate.googleusercontent.c...2ulx3-TmHXACVw

Parliament questioned the Minister of Oil in Tuesday's session at the request of

MP for Iraqi Alliance Haider Jourani on Monday, the House of Representatives responded to the request made by Oil Minister Hussain al-Shahristani, to bring forward to the questioning session on Tuesday instead of Wednesday.

Jurani said at a news conference, "The House of Representatives held its Tuesday to question the oil minister Hussain al-Shahristani in response to the request made by the Minister of Oil to date for the questioning, denying the minister go to Saudi Arabia for Hajj."

The Jourani Shahristani "as previously sent a request to the presidency of the Council to bring forward the questioning session," emphasizing the presence of al-Shahristani meeting to answer questions that will guide him by the Commission on oil and gas.

http://radionawa.com/ar/NewsDetailN....574&LinkID=109

Jourani confirms that the oil minister will attend at the date of the questioning and Matnaqlth media incorrectly

A member of the House of Representatives of the United Iraqi Alliance bloc, said Haidar al-Jurani oil minister called on Parliament to submit to questioning on Tuesday and is ready according to his constitutional checks and Matnaqlth media is incorrect.

Jurani said at a news conference today in Baghdad (attended by et al) in response "to rumors of some MPs and politicians, the possibility of travel and pilgrimage to the oil minister on interrogation to assure that oil minister has asked the House of Representatives to submit to questioning on Tuesday and is ready according to his constitutional checks and Matnaqlth means Information is incorrect, indicating a campaign against the minister also considered Jourani campaigning this campaign in particular as "it came in the fourth quarter of the work of the House of Representatives, stressing" that the minister will be banned in time.

http://translate.googleusercontent.c...hBauQ6H4pIQ47g

Under the Ministry of Commerce: the rehabilitation of the central market in preparation for the abolition of the ration card

Invited the Under-Secretary of Ministry of Commerce Soibp Mahmoud need to support the central markets in Iraq and rehabilitation to create a balance in the economy to prevent the monopoly of food commodities in light of the gradual withdrawal of support from the Ministry of the ration card.

Mahmoud explained in a press statement that the ministry's plan provides support to the ration card to the year two thousand and fifteen, and after the decision is subject to cancellation of a scientific study, environmental, and according to the needs of cities and rural areas.

The Presidency of the Council of Ministers has instructed all ministries to turn over the names of the Ministry of Commerce of citizens who earn more than a million and a half million dinars a month, as a prelude to withhold the ration card items from them, including resolution of all employees of the state and the private sector, professionals, traders and industrialists.

http://www.radiodijla.com/cgi-bin/ne...?id=2009-11-10

Noureddine Hayali declare the illegality of the contracts concluded by the Oil Ministry with foreign companies

Committee announced that oil and gas representative for the illegality of the contracts concluded by the Ministry of Oil with foreign companies.

A member of the Nur al-Din al-Hayali news conference in Baghdad that the Committee is to conclude contracts by the Ministry of the special oil fields in southern and northern Rumaila, Zubair, West Qurna, Humpback and other contracts signed planned invalid because it is contrary to the Constitution and void.

Hayali stressed that the Ministry of oil exceeded Parliament Refusing to bow to the Constitution and the laws in force, and warned foreign oil companies sign contracts with the Ministry of Oil under a special law for each contract oil or gas by the Council of Representatives.

http://www.radiodijla.com/cgi-bin/ne...?id=2009-11-09

UNHCR calls for postponement of presidential elections to the 21 of January

Demanded that the Electoral Commission for elections in a letter to the Presidency of the Republic of agreeing to postpone the upcoming elections to the atheist of the month of January instead of the sixteenth of the same month.

Commission President Faraj al-Haidari told reporters that the request for postponement comes to give the coalition an opportunity to submit their applications again and check the records of candidates.

Adding that the period between twenty and thirty of the atheist and religious events in the month during which he signed the check on the atheist and twenty of the month.

Haidari pointed to the lack of a need for a constitutional amendment or statutory change the next election, promising to hold elections according to international standards.

http://www.radiodijla.com/cgi-bin/ne...?id=2009-11-10

Expected to improve investor sentiment after the ratification of the Iraqi election law

Investor sentiment will get the support of the Iraqi parliament to pass an electoral law that long-delayed, but failure to resolve a dispute over the city of Kirkuk may be the major headache in the long term. Is still a split in the political arena and the insurgency poses risks for investors in the State, which ranks eleventh among the largest oil producers in the world and try to revive the economy and energy sector after years of neglect. Baedington said Francis, head of research at the Foundation Ansparo "Kirkuk remains a hot spot and that agreement is reached will remain a source of concern for investors in all sectors."

And threatened to weeks of deadlock in parliament to postpone the elections until after January. It was the law was passed in a raucous session on Sunday, but to avoid difficult decisions on the Kirkuk fields contain about 13 percent of Iraq's proven reserves of oil. Dispute and the Iraqi Oil Ministry and the authorities of Kirkuk on the right to approve agreements petroleum in Kurdistan, Kurdish officials also say that they must be involved in any agreements in Kirkuk. No award contracts in a bidding round in June on the Kirkuk field, which reserves of 8.5 billion barrels and a field north of the Bay is another good reserves of 2.29 billion barrels. Being Dac Royal Shell talks with Iraq to develop oil fields of Kirkuk.

It is expected that the awarding of contracts for Iraq to more fields in a second round will be held on December 11 and 12 December.

"Samuel Sizok an energy analyst at the Middle East at any. H. ABS Global Insight," There are very few firms truly willing to undertake such a venture in the north now. Kirkuk field may be an exception because it is so huge and may wish to Shell and its partners to gain a foothold in this the project."

"It is likely to see considerable interest in the second licensing round in December the fields located in the South or South East .. but for the fields in the north .. may have been significantly less attention."

Remains world oil prices and domestic production the main impetus for economic growth in Iraq, especially in the absence of the development of the services sector and the financial sector.

Fund managers say that the passage of the election law will not affect the price of global bonds Iraq worth $ 2.7 billion intended to pay commercial claims - that belonged to Saddam Hussein - are being restructured. The bonds mature in 2028 and begin repayment of the debt in 2020. The head of European investment in the company declined to be named "the electoral law a marginal positive impact on bonds. We'll take note of the strongest negative effect (if not approval).

"To defer the decision (for Kirkuk) has no effect on bond sulphate .. more negative for foreign investment .. As for bonds, the view beyond."

http://translate.googleusercontent.c...NVKO6wxVzCIJ4A

Exxon, Shell sign deal with Iraqi Oil Ministry

Royal Dutch Shell and Exxon Mobil inked a deal with the Iraqi Oil Ministry to help increase outflow of a major Iraqi oil field, The Washington Post reports. This marks the first time a U.S.-led consortium will assist with Iraq’s oil industry.

Oil Minister Hussain Shahristani called the Exxon-Shell deal “another huge achievement in the pursuit of rebuilding this country.” Other consortium agreements for Iraqi oil include an Eni-Occidental Petroleum agreement and a BP-China National Petroleum Corp. agreement. No opposition to these agreements is expected from the Iraqi cabinet.

The deals are basically service agreements, giving the consortium companies a per-barrel fee for raising output levels at active fields that have out-dated technology and equipment. However, the oil companies would not receive any profits from the deals.

In December, Iraq will likely have accept further bids for undeveloped fields, which would also be for similar arrangements.

The Exxon-Shell deal gives the companies $1.90 per barrel above the current rate of production, which is much lower than the $4 a barrel the consortium gave in its June bid. Iraqi leaders want the foreign companies to assist in increasing output from 2.5 million barrels daily to around 7 million barrels daily over a six-year period.

http://pukmedia.com/english/index.ph...14425&Itemid=1

Iraqi urges int'l community to write off remaining debts

Iraqi Vice-President Tareq Al-Hashimi called on the international community Monday to write off the rest of Iraq's debts to ease the pressure on the Iraqi budget, noting that the Iraqis have a lot to do to rebuild their country.

Al-Hashimi, addressing the 25th Conference of the Permanent Committee of Social and Economic Cooperation (COMSEC) of the Organization of the Islamic Conference (OIC), urged countries around the world to extend all possible support to Iraq.

He said Iraq was keen on exchanging commercial and economic expertise with OIC member states.

The Iraqi government, he said, has made tremendous economic achievements despite the heavy burden left from the former regime.

Iraq, he added, has signed important agreements with Turkey and Egypt as well as other countries to increase trade with them.

Iraq's economic and commercial relations with the Arab and Islamic countries "are decisive answer to the terrorist attacks in Baghdad," he said.

http://www.zawya.com/Story.cfm/sidZA...aining%20debts