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

CBI dollar sales up by 23% this week

The Central Bank of Iraq (CBI) dollar sales this week rose by 23% to reach $814.517 million, compared to $626.134 million last week.

“The demand hit $90.800 million in cash this week compared to last week’s $11.105 million, covered at exchange rate of 1,183 Iraqi dinars per dollar, and $723.717 million in foreign transfers outside the country compared to $615.029 million, covered at an exchange rate of 1,173 Iraqi dinars per dollar,” according to a CBI news bulletin received by Aswat al-Iraq news agency.

None of the banks that participated in this week’s session offered to sell dollars.

http://en.aswataliraq.info/?p=123339

Oil production to hit 10m bpd after 2 licensing rounds – Minister

Iraqi Oil Minister Hussein al-Shahrestani said on Friday said the two contracts from the second round of licenses would add 2.335 million barrels per day which, together with the 7.5 million bpd from the first round, will up Iraq’s production to 10 million bpd.

“Two oil conglomerates won two licenses over the Majnoon oilfield, which would produce 1.8 million bpd in 10 years, and the al-Halfaya oilfield, which would produce 535 million bpd in 13 years,” Shahrestani said during a press conference after finalizing the first stage of a second round of licenses on Friday.

The minister had announced during the 2nd round of licenses that the Shell-Petronas conglomerate have won a contract to develop the Majnoon oilfield over an offer to up the production ceiling to 1.8 bpd at a rate of $1.39 per barrel, while the CNPC-Petronas-Total conglomerate won a contract to develop Halfaya oilfield at a rate of $1.40 per barrel.

http://en.aswataliraq.info/?p=123355

FM Zebari meets Stephen White

Iraqi foreign affairs minister Hoshiyar Zebari met with the head of EU mission to support the rule of law in Iraq Mr. Stephen White and his accompanying delegation on the occasion of ending his mission.

White stressed his commitment to continue cooperation of the mission and develop its work for the benefit of the two parties.

For his part, Zebari praised the efforts of Mr. White during his mission in Iraq in the development of relations between Iraq and the EU mission and wished him success in his future post.

http://pukmedia.com/english/index.ph...15019&Itemid=1

Iraq oil minister: Two out of five oil contracts awarded

Iraqi Oil Minister Hussein Al-Shahristani said Friday that two out of five contracts up for auction were awarded.

A consortium comprising Royal Dutch Shell PLC (RDSA) and Malaysia's Petronas has been awarded Majnoon oil field, while the contract to develop the giant Halfaya oil field in southern Iraq was awarded to a consortium led by China National Petroleum Corp., Petronas and France's Total SA (TOT).

None of the international companies that took part in Friday's bidding process submit bids for the East Baghdad and Eastern fields.

The only company that bid for Qaiyarah, Angola's Sonangol, wasn't awarded the contract as it didn't meet the ministry's minimum remuneration fee of $5 a barrel for each barrel produced. The company proposed a payment fee of $12.50 a barrel.

A further five oil and gas field contracts will be up for auction Saturday.

http://pukmedia.com/english/index.ph...15018&Itemid=1

More Results of Oil Bids

Sonangol takes Najmah

Sonangol, the sole bidder, takes Najmah oil field for a $6 per barrel remuneration fee and a production target of 110,000 barrels per day.


Sonangol accepts Ministry’s offer for Qaiyarah

In a surprise change of heart, the Angolan major agrees to the Ministry’s terms after refusing them only yesterday.


Lukoil beats Total, takes West Qurna Oil Field

Lukoil, with junior partner Statoil, takes West Qurna oil field for a $1.15 per barrel remuneration fee and a production plateau of 1.8 million barrel…


Gazprom wins in Badra

Gazprom, alongside junior partners TPAO, Kogas and Petronas, take Badra oil field after negotiating a bid with the Ministry of Oil.


Petronas takes Garraf

Petronas, with junior partner Japex, successfully won the bid for Garraf oilfield with an offer of a $1.49 per barrel remuneration fee and a productio…


No bids for Middle Furat fields

No bids have been made for the Middle Furat oil fields.
The Middle Furat project is three undeveloped oil fields located in Karbala province.

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Minister of Oil: The fields which were transmitted on Friday will produce more than 1,3 million barrels per day

Oil Minister Hussain al-Shahristani That the total Daily production Of the three fields referred In the first round of licensing is 6,4 million barrels, Rumaila and Zubair and West Qurna.

Shahristani said in comments broadcast by correspondent that the fields Referred yesterday Will produce more Of 1,3 million barrels Day, noting that the total Amounts Will continue from the fields transmitted in the round of licenses First Will be more than 70 billion dollars annually and the explosions that occur in Iraq will not affect the Oil investment Or on the economy Iraq

http://al-iraqnews.net/new/iconomi/45791.html

Shahristani: Iraq's oil production capacity will reach 12 million barrels per day

Oil Minister Hussain al-Shahristani said on Saturday that Iraq's production capacity would reach 12 million barrels per day of all contracts negotiated with foreign companies to add to their own efforts.

Shahristani said in the second licensing round for the second day That the expected output of the second round of awarding tenders, which was held on Friday and Saturday 4.765 million barrels per day.

Shahristani said that Iraq still has "dozens" of fields, some large and some of extraordinary magnitude for presentation to the international oil companies.

http://al-iraqnews.net/new/iconomi/45754.html

Two Record Results in Japan and Malaysia to hold Gharraf oil field development

Oil Minister Hussain al-Shahristani, through the completion of the second licensing round in Baghdad on Saturday beat a coalition of companies, "Petronas" Malaysian and "JAPEX" Japanese contract to develop Iraqi oil field Gharraf.

Shahristani said in the second licensing round, which was attended by correspondent "We win two coalition" PETRONAS "and" JAPEX "Gharraf oil development in the field."

The coalition, in which Petronas, by 85 percent and JAPEX by 15 percent, producing a barrel price of $ 1.49 and increase the rate of production to 230 thousand barrels per day. Gharraf field reserves are estimated at about 863 million barrels of oil.

http://al-iraqnews.net/new/iconomi/45743.html

Iraq signed a contract with a consortium of international companies to develop oil field Badra

Oil Minister Hussain al-Shahristani said assignment of a contract to develop the oil field Badra to a consortium led by Gazibwm Russian.

Shahristani said the second licensing round for the second day Badra that the field referred to the group of companies led by Russian Gazibwm (40%) and TPAO Turkish (10%) and Malaysia's Petronas (30%) and company KOGAS Korean by (20%).

Shahristani and contract submitted by these companies was $ 6 per barrel to produce, but offered price and the oil ministry is $ 5 and 50 cents, and unanimously approved by the companies considered al-Shahristani said the companies are truly global level as shown by the response from the price of the ministry.

The total production capacity of this field is part of the contract 170000 barrels per day and was attended by the governor to assign the contract and Wasit

http://al-iraqnews.net/new/iconomi/45738.html

Shahristani describes the rainbow of oil contracts signed by the ministry that it will provide jobs for thousands of Iraq

Oil Minister Hussain al-Shahristani said in a statement to the rainbow that oil contracts signed by his ministry in the first two rounds of licensing and the second will provide employment to hundreds of thousands of Iraqis, adding that terms of the contract with those companies Tdhanmt Todev 85% of Iraqis in their projects.

Shahristani said he regretted the existence of those inside and outside Iraq to impede the development process in Iraq through non-contract claim with major international companies to invest in Iraq, pointing out that the recent terrorist acts were part of a scheme to hinder the process of investment and progress in Iraq.

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