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

CBI sells $98 million on Wednesday

The Central Bank of Iraq’s (CBI) dollar sales dropped to $98.880 million in its daily auction on Wednesday, compared to $146.278 million in the previous session.

“The demand hit $10.400 million in cash, covered at an exchange rate of 1,170 Iraqi dinars per dollar, and $88.480 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 15 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=126388

Barred Iraq candidates allowed to stand: electoral official

Around 500 candidates barred from Iraq's March 7 general election for alleged links to e.xecuted dictator Saddam Hussein will be allowed to stand, an electoral official told AFP on Wednesday.

http://www.zawya.com/Story.cfm/sidAN...ral%20official

Shahristani for (Iba): implementation of the licensing contracts will reflect positively on the Iraqi banking sector

said Oil Minister Hussain al-Shahristani said the launching of the licensing contracts for the two rounds of the first and the second will reflect positively on the private banking sector and the government, through the companies concerned to provide financial guarantees to work.

He said al-Shahristani, told the independent press (Iba) for a step that the ministry signed contracts Aihaabiyat benefits and will be reflected on the banking sector and pave the way to activate it, planned by the responsible State, which means the promotion of access to a global excellent choices.

He said the ministry will open its doors to Iraqi banks and facilitate the special procedures in the event its request to the minister, however, to suit the faster e.xecution of contracts for the two rounds of licensing. He Ehime contracts in the expanding growth and economic reality.

Shahristani stressed the thoughtful and the selection of companies that have a long tradition in the field of oil and abilities that enable them to develop the productive capacity of the country and seek to rehabilitate oil facilities have been suspended for periods of time.

It should be noted that the ministry has recently signed a number of development contracts with foreign companies in the second round of licensing.

http://www.ipairaq.com/index.php?nam...onomy&id=20819

Finance minister to negotiate investment deal with Oman

The Iraqi cabinet has authorized the finance minister to negotiate an investment agreement with Oman, an official source said on Wednesday.

“The agreement aims to encourage investment in both countries,” an official spokesperson for the Iraqi government, Ali al-Dabbagh, told Aswat al-Iraq news agency.

Under the agreement, investors from each country will be encouraged to invest their capital in businesses in the other country.

http://en.aswataliraq.info/?p=126415

Iraqi Parliament opens office in Kirkuk

The Iraqi Parliament Wednesday opened its office in Kirkuk in order to bridge the issues, demands of Kirkuk citizens with the Parliament.

At a ceremony was arranged on Wednesday attending by the second Iraqi vice president, Arif Taifur, and a number of Kirkuk's officials, Iraqi Parliament's office was opened in the Kirkuk city.

"For bridging their proposals, complaints, and demands, with the Parliament and to be tackled, people can visit the office without discrimination," addressing the gathering, Taifur said.

After describing the elections process as one of the basic principles of democracy, Taifur used the opportunity to ask the citizens of Kirkuk to take a great part in the upcoming Iraqi parliamentary elections.

http://www.aknews.com/en/aknews/4/110668/

European talks on Iraqi situation in Iraq

Meets European parliamentary delegation for relations with Iraq on Thursday to the Iraqi parliamentary delegation.

A statement by the European Parliament First Deputy Speaker Khalid al-Attiyah will be headed by the Iraqi delegation will be headed by Iraq with British MP Stephenson you will see the European delegation.

European delegations will be talks on the Iraqi situation in Iraq and the parliamentary election campaign.

The delegation includes a member of the Iraqi Foreign Relations Committee, Jaber Habib Jaber and House of Representatives Hadjim Mehdi Hassani and Abdul Rahman Mohamed.

http://radionawa.com/ar/NewsDetailN....5743&LinkID=99

Criteria to determine Iraq’s integration into OPEC’s quota system

Iraq will not accept being constrained by an OPEC quota system before it reaches an oil production of 4.5 million barrels per day (bpd), the country’s representative in the organization said, adding that several criteria will determine Iraq’s integration into the system.

“The talk about Iraq’s integration into the OPEC’s quota system is too premature. Iraq must reach an oil production of 4.5 million bpd before it joins the system. This will take nearly four years…,” Fallah al-Aameri, who is also the director of the State Oil Marketing Organization (SOMO), told Aswat al-Iraq news agency.

OPEC member states will consider several criteria, including Iraq’s oil reserves and its need for reconstruction, before setting Iraq’s quota for exporting oil, he added.

http://en.aswataliraq.info/?p=126427

Dollar sales down to 59m on Thursday

The Central Bank of Iraq’s (CBI) dollar sales dropped to $59.740 million in its daily auction on Thursday, compared to $98.880 million in the previous session.

“The demand hit $2.720 million in cash, covered at an exchange rate of 1,170 Iraqi dinars per dollar, and $57.02 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 12 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=126443

Originally Posted by Seaview

Criteria to determine Iraq’s integration into OPEC’s quota system

Iraq will not accept being constrained by an OPEC quota system before it reaches an oil production of 4.5 million barrels per day (bpd), the country’s representative in the organization said, adding that several criteria will determine Iraq’s integration into the system.

“The talk about Iraq’s integration into the OPEC’s quota system is too premature. Iraq must reach an oil production of 4.5 million bpd before it joins the system. This will take nearly four years…,” Fallah al-Aameri, who is also the director of the State Oil Marketing Organization (SOMO), told Aswat al-Iraq news agency.

OPEC member states will consider several criteria, including Iraq’s oil reserves and its need for reconstruction, before setting Iraq’s quota for exporting oil, he added.

http://en.aswataliraq.info/?p=126427

A number of criteria will govern the entry of Iraq in Kota OPEC quotas

The Director of SOMO, and Iraq's representative to OPEC, Falah al-Ameri, Thursday, Iraq will not be approached by entering the OPEC oil quota to the quota before the arrival of its production to 4.5 million barrels a day, noting that while the entry that will be subject to a number of criteria.

Amiri told (Voices of Iraq) that "talking about entering Iraq in Kota oil quotas set by OPEC to be premature, because Iraq should be to pump the oil up to 4.5 million barrels per day before the talk about entering the OPEC quota in the quota of oil," adding that "This needs to € four years before the search begins with the OPEC countries from entering Iraq in Kota oil quotas."

He Ameri said that "Iraq when it comes to the production of 4.5 million barrels a day, will be open to talk with OPEC quotas on the quota and then determine the share of Iraq will be subject to a number of criteria that are based in the OPEC quotas, and Iraq is in the forefront of countries that fall under the cartel in the standards."

Amiri said, "These standards include the degree of deprivation and Iraq in the forefront of countries in this Standard, where he was deprived of crude oil export for many years and others have benefited from such deprivation increasing their share of OPEC and deposited imports from oil exports at the banks and Atstvid them in projects internal affairs."

And went on "the second criterion is a reserve of oil and Iraq is also at the forefront of its required reserves, and the third criterion includes the need for countries to develop oil and construction and reconstruction, Iraq is also at the forefront of this standard," noting that "there are problems in Iraq with the OPEC member states will consider in this standards are agreed on the wording of a particular time."

He pointed out that the Ameri "OPEC takes its decisions unanimously, and by all its members, and agree on a resolution of Iraq's annexation to Kuta quotas for OPEC oil would involve Iraq if there is national interest in this, but in the absence of national interest will not vote in Iraq is a timely resolution Menkaudha."

The Organization of Petroleum Exporting Countries called for short-OPEC (OPEC), is a global organization currently includes 12 countries rely on oil exports heavily to achieve income. The Member States have in this organization is somewhere between two thirds and three quarters of the world's reserves of oil extracted. Was founded in Baghdad in 1960 by Saudi Arabia, Iran, Iraq, Kuwait and Venezuela. It should be noted that, although the official language of the majority of States that fall under the OPEC is Arabic, but the official language of the OPEC is English. There is one country, Nigeria, uses English as an official language.

The Ameri said that "OPEC was founded in Baghdad in 1960, and Iraq is a founding member of the Organization, which will celebrate its golden anniversary in Baghdad in September next ceremony attended by representatives of 12 nations that fall under OPEC."

It should be noted that the Organization of Petroleum Exporting Countries ruled Iraq from the oil quota shares in 1998 because of weak production, and specific circumstances, and the total OPEC quotas Maigarb 31.4 million bpd, Saudi Arabia holds the largest share of which amounted to about 10 million barrels per day.

http://radionawa.com/Ar/NewsDetailN....750&LinkID=105

Basra's governor is expected to be Iraq's biggest oil producers in the world
The governor of Basra Cltag Aboud said the signing of the second licensing round for the West Qurna, north of Basra, which took place between the Ministry of Oil and a coalition of Russian companies Lukoil and Norway's Statoil, Stohl Iraq to be in the future of the largest oil producers in the world.

He Abboud told the Iraqi news media Wednesday that Basra is coming into a major development because of its great economic importance regionally and globally, noting that the signing of the second licensing round (second phase) to extract the oil from the West Qurna fields in very large quantities will equip Iraq to be one of the largest oil producers in the world "as well as it will contribute to Iraq's openness to the peoples of the region, especially Russia, which has previous experience with us.

He noted the governor of Basra Cltag Aboud said the signing of the second licensing round for the West Qurna field would contribute to providing thousands of jobs to the people of the city.

http://radionawa.com/Ar/NewsDetailN....734&LinkID=105