Thread: Archive News - Iraqi Dinar Think Tank - 01/10/09 - 27/03/10

Oil Minister: We will publish details of oil contracts on investment from online media

Detection and Oil Minister Hussain al-Shahristani said the ministry was about to publish details of contracts signed within the first two rounds of licenses and the second through the media.

Al-Shahristani told the independent press (Iba) on Wednesday that the ministry proceeds from its principle of the Iraqi people to see all the details of oil contracts signed by the investment through licensing rounds I and II.

He stressed that the experience of the Iraq through two rounds of licenses has won the admiration of the world the way that had been carried out, prompting many countries to request to see them to take advantage of them.

He said that Iraq is entering the coming years on a revival in the oil investment will be paid by him to the forefront of countries exporting oil.
Shahristani alluded to that this is the first time that the Ministry of the offer contracts to the media, stressing that it is not something to hide at the ministry in this area.

http://www.ipairaq.com/index.php?nam...onomy&id=20178

Minister for Planning (Iba): You have to enable the private sector and stimulate foreign investment

The Minister of Planning and Development Cooperation Ali Ghalib Baban "the need to head programs this year to reactivate the private sector and seek to drive foreign investment to enter the local market."

Baban said, told the independent press (Iba) on Wednesday that "the operationalization of the private sector can achieve significant growth so that it is able to provide thousands of jobs and means of voluntary movement in the productive sectors especially government. Stressing the need to stimulate foreign companies to invest overseas and move towards commencement of projects."

"The new year, the state is seriously considering not to rely only on oil wealth to fund its budget Assembly. Pointing out that the deterioration and confusion in oil prices could make the state is unable to revive the economic reality."

And between the doors, "said the ministry has adopted the social security scheme similar to what is happening in developed countries, which guarantees to every Iraqi citizen a decent life and to ensure against deficits, unemployment and disease. Pointing to seek cooperation with some foreign expertise to develop a project in order to make the right decision and to achieve a prosperous future the country."

It should be noted that the minister called on local administrations to the provinces to begin the preparation of reconstruction plans five-year development, the government intending to implement from next year, and work to establish an industrial city in each province.

http://www.ipairaq.com/index.php?nam...onomy&id=20146

Japanese companies seeks to invest in Basra

Japanese companies seek to come and implement investment projects in Basra, according to the representative of the U.S. reconstruction team in Iraq.

“A number of Japanese companies, including Mitsubishi and Toyota, as well as businessmen expressed desire to invest in Basra, mainly after they attended the investment conference which was held earlier in the city,” Nicholas Konsh told Aswat al-Iraq news agency.

“The Japanese companies have great interest in implementing investment projects, especially in the hotels sector,” he added.

Konsh said he discussed with head of the Basra Investment Commission the city’s investment plans and the available opportunities.

http://en.aswataliraq.info/?p=125570

CBI dollar sales drop to $92 million

The Central Bank of Iraq’s (CBI) dollar sales dropped to $92.845 million in its daily auction on Wednesday, compared to $179.659 million during the previous session.

“The demand hit $7.740 million in cash, covered at an exchange rate of 1,170 Iraqi dinars per dollar, and $85.105 million in foreign transfers outside the country, 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 16 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=125568

U.S. companies want to invest 18 oil fields in Diyala

Investment Authority is considering the Diyala provincial council and a request by the U.S. company to invest in 18 oil fields and received permission to build a large housing complex at a cost of $ 247 million east of Baquba.

The chief investment Diyala Engineer Mjul Mahdi's (morning): that the provincial council consider a request by the U.S. investment company wants to develop 18 oil fields and gas areas in the south of Khanaqin and Buhriz and Mansuriyah and appointed a night in Qaratapa, adding that the project will cover the actual need of the products oil in the province with the provision of large amounts of electrical energy by using gas to power generating stations to the eradication of unemployment.

He said Mahdi had been allocated 200 acres on the eastern side of the city of Baquba, to create the biggest housing complexes in Diyala, which will be implemented by Iraqi companies, and Turkey at a cost of 247 million It consists of three dollars and thousands of housing units sold to citizens in a convenient installment, adding that the project contains all the key facilities such as kindergartens, health centers, schools and markets as well as the allocation of $ 15 million to create a city-style games the Turkish area of 40 dunums in the district of Baquba, teachers spend a Central Directorate municipalities. And has been allocated $ 60 million to establish a large plant for the manufacture of aluminum extrusion, which is one of the largest industrial projects in Diyala.

http://www.alsabaah.com/paper.php?so...page&sid=96806

Bremer: the withdrawal of troops from Iraq in 2011 risk

Paul Bremer, called the American ambassador in Iraq, former U.S. President, Barack Obama's failure to meet set for the withdrawal of U.S. troops from Iraq next year.

Bremer said in an interview with the BBC: "Certainly the risk is therefore important not to act according to the date on which the President has set for himself the field to withdraw troops by July 2011."

U.S. diplomat explained his opposition to withdraw his belief that the program is based on an erroneous assessment of the readiness of Iraqi forces to assume security tasks.

The Bremer said: "It was a President Obama and his military advisers were confident that Iraqi security forces, police and army are prepared to provide adequate security for the people. I think the risk is very large."

He said former U.S. ambassador to the security situation in Iraq has improved a lot, and that Prime Minister Nuri al-Maliki has proved to be the leader of the country and not a "Shia leader" after "rebellion extinguished a Shi'ite militia in Basra two years ago"; and students to account the need to continue the current U.S. administration is achieved by the previous administration.

Bremer said, speaking of President Barack Obama: "We should commend the decision to proceed with the achievements that had been making in Iraq when he took power."

The use of force

The U.S. diplomat said, adding in another place: "During his speech in Oslo on the occasion of receiving the Nobel Peace Prize, has shown a clear understanding of the importance of the use of force sometimes unilaterally. I think that those positive things."

Bremer pointed in this regard to Obama's decision to send more U.S. troops to Afghanistan, although it "detracted from the decision to impose a bureaucratic deadline for the return of those soldiers."

http://translate.googleusercontent.c...vDH4OSNcQulnGA

Lukoil, Statoil sign the final agreement for the West Qurna field/2 on January 31
An Iraqi official said the oil ministry signed in January 31 a final agreement to develop the second phase of the giant West Qurna field, which amount to 12.9 billion barrels of reserves with the companies of Russia's Lukoil and Norway's Statoil ...

He said Sabah Abdul-Kadhim, director of the Legal Section of the Contracts and Licensing Iraqi Oil Ministry said the ministry also signed definitive agreements with a consortium led by Gazprom to develop the field on January 28, Badra and a group led by China National Petroleum Corporation to develop the field Halfayah on January 27.

The Abdalkazem "agreed all oil companies remaining on the amendments we proposed to the draft contracts. Amendments focused on the issues of insurance, customs and arbitration."

Iraq was the awarding of contracts to develop oil fields to the ten international companies in tenders for power last year.

If the result of these agreements, they raise the production capacity of Iraq's oil for about five-fold to about 12 million barrels per day, putting it in competition with the center's largest oil producer in the world.

And located the second phase of West Qurna field in southern Iraq, one of the most lucrative oil fields in the country.

http://translate.googleusercontent.c...0OZKhQl0cGm7Tg

Bechtel 'exploring' return to Iraq

San Francisco engineering company Bechtel Corp. said it is examining the possibility of returning to Iraq to help oil companies develop resource fields.

Iraq held its second postwar oil auction in December, dolling out contracts for some of the country's largest oil fields. Baghdad said the contracts would push the country closer to rivaling Saudi Arabia in terms of oil production.

Francis Canavan, a spokesman for Bechtel, told the San Francisco Chronicle his company had "performed an in-country assessment of oil fields for the Ministry of Oil, and is exploring the possibility of providing engineering, procurement and construction services to oil companies."

Bechtel worked under a $2.6 billion contract by the U.S. Agency for International Development to rebuild Iraq's dilapidated oil sector through 2006. The killing of 52 Bechtel employees, however, prompted the company to decide work in Iraq was not worth the risk.

During the first Iraq oil auctions in June, several international investors decided to stay on the sidelines because of security concerns.

Following a successful December auction, however, Bechtel said it was "exploring the possibility" of returning to the Iraqi oil sector.

http://www.upi.com/Science_News/Reso...5591264004564/

Parliament’s financial committee finishes budget report

The Iraqi Parliament’s financial committee finished amendments to the country’s 2010 federal budget, and will send it to the Parliament’s speakership on Thursday.

“The decision of when to debate the budget is left to the Parliament’s speakership and members,” Serwan al-Zahawi said in a press conference in Baghdad on Thursday.

He said that there is a deficit of around $18 billion in the budget.

http://en.aswataliraq.info/?p=125624

Baghdad mayor urges Iraqi businessmen to contribute to reconstruction

The mayor of Baghdad has called on Iraqi businessmen to participate in the reconstruction process of the capital Baghdad.

"This came during the mayor's meeting with a number of businessmen from the Iraqi National Business Council...," according to a statement released by the mayoralty and received by Aswat al-Iraq news agency.

The mayor has called on businessmen inside and outside Iraq to conduct building, investment and infrastructure projects, the statement added.

The Iraqi National Business Council includes a number of Iraqi businessmen who live in the United States, Britain, Jordan, Egypt and Iraq.

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