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

Shahristani: Iraq will be the largest supplier of oil market in the coming years

Oil Minister Hussain al-Shahristani predicted that Iraq will be the largest supplier of oil market in the coming years.

Shahristani said at a symposium organized by the ministry in cooperation with the Faculty of Mass Communication, University of Baghdad, said Wednesday that the second licensing round was convincing to all parties and has contracts signed by the ministry of foreign companies with a large part of the ministry programs.

Stressing that the first licensing round and the second meets the legal requirements, despite the objections earlier.

"The ministry plans to raise the production ceiling to 12 million barrels per day through the rehabilitation and development of oil fields, a key factor in the optimum exploitation of the oil wealth of Iraq."

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-13

Iraqi Kurds press ahead with oil development deals with foreign firms

In yet another defiant move, Iraqi Kurds have struck deals for the development of oil fields in areas outside their semi-independent enclave.

The new deals call for the development of oil fields in the Province of Nineveh, of which Mosul is the capital.

Mosul is Iraq’s second largest oil center in the north after Kirkuk.

There are no official figures about the volume of proven oil reserves in the province, but oil officials privately say they must substantial.

Kurdish militias now control large chunks of the province, including one of the country’s oldest oil fields of Ain Zala.

Nineveh council, currently dominated by Sunni Arabs, has denounced the move, saying it will not relinquish an inch of the provincial borders to Kurds, which include Ain Zala.

Oil fields in the province have the advantage of being close to the pipeline which used to carry Iraqi crude to Syrian terminals on the Mediterranean. The pipeline is currently closed.

The Kurds now produce oil from fields within their autonomous enclave comprising the three provinces of Dahouk, Arbil and Sulaimaniya.

The deals to develop oil fields within the administrative borders of Nineveh are certain to raise tensions between Arabs and Kurds on the one hand and between the regional Kurdish authorities and the central government in Baghdad on the other.

The government has repeatedly said Kurdish oil development deals are illegal. But it seems the Kurds have created a situation on the ground which the government cannot but accept.

The Kurds now export up to 100,000 barrels via Iraqi national pipelines. The sides are in disagreement on who should collect their royalties.

http://www.azzaman.com/english/index...01-12\kurd.htm

CBI dollar sales jump to $295m on Wednesday

The Central Bank of Iraq’s (CBI) dollar sales jumped to $295.385 million in its daily auction on Wednesday, compared to $200.510 million during the previous session.

“The demand hit $8.370 million in cash, covered at an exchange rate of 1,170 Iraqi dinars per dollar, and $287.015 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 19 banks that participated in today’s session offered to sell dollars.

http://en.aswataliraq.info/?p=125139

Iraq will host Arab Summit in 2011

The deputy Arab League Secretary General Ahmed Bin Hili said in press statements to the Baghdad based al-Sabah newspaper, that the next Arab Summit is going to be held in Iraq.

That came following positive talks with President Jalal Talabani and the Speaker of the Iraqi Parliament Iyad al-Samarai.

http://pukmedia.com/english/index.ph...15586&Itemid=1

Publication of a book on the reform of the banking sector in Iraq

Sadr in Baghdad, Tuesday, the book outlined in the banking culture which deals with reform of the banking sector in Iraq through a number of research and studies, where the book included recommendations to develop the mechanics of banking, financial and monetary policies.

The authors support a banking expert Samir Alnasiri told (Voices of Iraq) that "the Gulf Commercial Bank issued today (Tuesday) outlined in his book Culture banking - banking and research studies by leading researchers, economists and bankers."

According to the book Alnasiri "included five topics: the reform of the banking sector in Iraq and the financial investment in Iraq between reality and ambition, as well as fiscal and monetary policy in Iraq and developments and the future of the Iraqi economy and the global financial crisis" has included all the focus on "a number of studies and research in the above topics reached in which visions and ideas and recommendations to serve the process of reform of the banking and financial investment and the development of mechanisms for monetary and fiscal policy and contribute to the support of our national economy."

http://translate.googleusercontent.c...YpIydswpDPB1Og

Now if we could just get hold of that book.

Oil Minister: Iraq on verge of years an investment of about (100) billion dollars

Oil Minister Hussain al-Shahristani said Iraq is on the verge of (6) years of investment of up to (100) billion dollars in oil revenues in the 10-day put up for investment in these wells will occupy half a million Iraqi workers of the engineering and administrative staff, and others.

He said al-Shahristani told a reporter that the Iraqi government and the oil ministry did not agree to sign contracts with companies operating on the participation of Iraq, including oil wells produced in Iraq, pointing We are ready to Perm contracts with companies that charge fees for Matantj and extraction of oil from the Iraqi wells.

http://translate.googleusercontent.c...aEJ4IFzT0s1RRQ

Originally Posted by Seaview

Shahristani: Iraq will be the largest supplier of oil market in the coming years

Oil Minister Hussain al-Shahristani predicted that Iraq will be the largest supplier of oil market in the coming years.

Shahristani said at a symposium organized by the ministry in cooperation with the Faculty of Mass Communication, University of Baghdad, said Wednesday that the second licensing round was convincing to all parties and has contracts signed by the ministry of foreign companies with a large part of the ministry programs.

Stressing that the first licensing round and the second meets the legal requirements, despite the objections earlier.

"The ministry plans to raise the production ceiling to 12 million barrels per day through the rehabilitation and development of oil fields, a key factor in the optimum exploitation of the oil wealth of Iraq."

http://www.radiodijla.com/cgi-bin/ne...?id=2010-01-13

Shahristani: Iraq will be the largest supplier of oil market in the coming years

Oil Minister Hussain al-Shahristani that "Iraq will be the largest supplier of oil market in the coming years."

Shahristani said at a symposium organized by the ministry in cooperation with the Faculty of Information - University of Baghdad on Wednesday and attended the Independent Press Agency (Iba), "The second licensing round was convincing to all parties and has contracts signed by the ministry of foreign companies with a large part of the ministry programs, stressing that the first licensing round and the second meets the legal requirements, despite previous objections."

Some of the House of Representatives and by hosting the oil minister in the House or through press statements had considered the ministry contracts with foreign companies illegal not to inform the Council.

"The ministry plans to raise the production ceiling to 12 million barrels per day through the rehabilitation and development of oil fields, a key factor in optimum exploitation of the oil wealth of Iraq."

The production of Iraq's current oil about 2 مليونين and 500 thousand barrels per day.

Shahristani alluded to "The ministry welcomes any effort to come from the investment of foreign companies working in Iraq on condition that fulfilled the conditions established by the State in the public interest showing no injustice of any company is seeking investments in the oil sector of Iraq."

http://www.ipairaq.com/index.php?nam...onomy&id=19854

Urgent ... The adjournment of the Iraqi Council of Representatives because of the lack of quorum

Council lifted its Iraqi parliament to this day due to lack of quorum.

MP Ahmad al-Alwani, a reporter Had adjourned for the completion of the remaining legislation and laws in order to vote, adding that the meeting adjourned to Tuesday next, pointing out that most of what came in today's meeting of parliamentary initial reading Law Amendment Act to the provincial assemblies and the second reading of the Law of the bureaucracy of religious endowments, stressing that there was no quorum at the meeting this day, so turned into a deliberative session.

http://al-iraqnews.net/new/ajeel/50221.html

Iraq signed the Convention on the World Bank to finance investment projects

Iraq has signed the Convention on the World Bank grant of five million dollars for the completion of the national strategy for energy, integrated within the program of technical assistance to Iraq.

A source in the official board of advisers of the President of the Thamer Ghadhban said he had discussed with the representative of the World Bank, Abdul Hadi files Arab reform state-owned enterprises, development of small and medium enterprises to the private sector, and provide funding for small-scale industries. For his part, the Arab had been discussion with the specialist technical team to accelerate work to projects implemented by ministries of education and electricity, through loans and grants the World Bank.

http://translate.googleusercontent.c...OCyJLdDYS2-Rtw

Oil deal signings to start Sunday

Officials from Shell and Petronas will be at a signing ceremony scheduled for Sunday in Baghdad to make official the contract for super-major oil field Majnoon.

It was awarded to the top bidder at the Dec. 11 and 12 auction at the Iraqi Oil Ministry headquarters. The field is among 10 oil projects awarded in that auction and on June 30, which the ministry said will help increase production capacity to more than 12 million barrels per day (bpd).

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