Thread: Archive News - Iraqi Dinar Think Tank - 22/06/2010 - 04/10/2010

Halliburton Wins Majnoon Drilling Contract

Halliburton has won a contract to drill 15 wells at the super-giant Majnoon oilfield, operated by Shell and Petronas, according to a report this afternoon from Reuters.

http://www.iraq-businessnews.com/201...ling-contract/

New Iraqi Oil Prices for September

Iraq’s State Oil Marketing Organisation (SOMO) has cut the official selling price for September shipments of its Basra Light crude to Asia, reducing the cost to its lowest level in eighteen months, while raising its price to the US.


In common with some other countries, Iraq’s oil is priced relative to regional benchmark prices:

• For shipments to US, contracts are priced are relative to the Argus Sour Crude Index (ASCI);
• Shipments to Europe are priced relative the North Sea Spot BFOE; and
• Asian shipmentas are priced relative to the Dubai-Oman crude benchmark, published by Platts, the energy-information division of McGraw-Hill.

Basra Light Crude is now priced at:

• For US, a discount of $1.30 relative to the ASCI for September (up from a discount of $1.40 in August);
• For Europe, a discount of $2.95 relative to North Sea for September (down from a discount of $1.95 in August);
• For Asia, a discount of $1.55 relative to Dubai-Oman (down from a discount of $1.10 in August).

While Kirkuk crude will sell for:

• For US, a premium of $0.25 relative to the ASCI for September (same as in August);
• For Europe, a discount of $1.80 relative to North Sea for September (down from a discount of $0.95 in August).

Iraq exported 627,000 barrels of crude a day to the US in 2008, representing about 6.4 per cent of all US oil imports, according to the Energy Information Administration.

Saudi Arabia this month cut prices for September liftings of all crude grades to Asia and lowered prices for light crudes to the US.

http://www.iraq-businessnews.com/201...for-september/

Iraqi oil firm on $224 million oil drilling drive in south

The Missan Oil Firm is proceeding with plans to drill 20 new oil wells in two years.

The wells are situated in the southern Province of Missan where some of Iraq’s largest oil fields await development.

The company has drilled four wells so far in the southern Bazirkan field, said the company’s information officer Abbas al-Tarafi. The company was established recently to administer the province’s massive reserves.

Tarafi said the company has done a survey to assess the current capacity of producing wells and boost their output.

The volume of oil flowing from Missan fields has been increasing but it still makes a slight portion of the total Iraqi output volume of over 2 million barrels a day.

Missan production is estimated at about 200,000 barrels a day.

Tarafi said the company was pursuing a two-pronged policy. “First we carry out an appraisal of the producing wells. Second we go along with plans to drill new ones,” he said.

http://www.azzaman.com/english/index...08-17\kurd.htm

WFP Expands Cash-for-Work Programme in Iraq

The United Nations World Food Programme (WFP) is targeting unemployment in some of the areas most affected by violence and insecurity in Iraq through expanding its cash-for-work programme to reach more than 11,000 vulnerable people and help them meet their daily food needs, the United Nations Assistance Mission for Iraq (UNAMI) said on Tuesday.

“The scheme provides beneficiaries with short-term employment in agricultural infrastructure projects with the long-term aim of ensuring they don’t go short of food,” UNAMI said in a report received by Aswat al-Iraq news agency.

“Cash-for-work projects work really effectively in places where food is available in the market yet people cannot afford it — as is the case in Iraq,” said WFP Country Director Edward Kallon. “This project not only gives beneficiaries a job but it secures future food production by focusing on the agricultural sector.”

The UN food agency is implementing the scheme in Diala and Baghdad governorates where many people have returned from overseas or from elsewhere inside the country to find their properties looted and jobs lost.

WFP piloted the scheme earlier this year as part of the “Diala Initiative,” which included measures to help with the resettlement of internally displaced people (IDPs), returnees and other vulnerable groups.

“Thank God for this chance — now I can buy food for my family; I bought them meat for the first time in months,” said Haytham Abd Kathem, one of the 500 workers on the Diyala pilot project.

With the support of US$5 million from the United States government, this project is now being expanded so that others like Haytham can provide for their families.

Participants will be paid the Iraqi dinar equivalent of US$10 per day for a three-month period, with supervisors paid the equivalent of US$13 per day. The pay rates have been set below the average daily wage of US$13-17 for labourers, so that it benefits only the most vulnerable members of the community who might not otherwise be able to find work.

WFP is will be paying beneficiaries in cash in the beginning while exploring the possibilities of using electronic technology, such as smart cards, to facilitate payments and minimise risk.

Cash-for-work activities are selected based on the community’s priorities and could include the clearing and rehabilitation of sewage and irrigation canals, tree planting, rehabilitation of farmland and improving sanitation.

While Iraq is potentially a rich country with large oil deposits, decades of war and instability have led to a deterioration in infrastructure and social services, as a result of which many people have been left poor and vulnerable. A 2008 survey estimated that 930,000 Iraqis were food insecure, with a further 6.4 million vulnerable to food security without the Public Distribution System.

http://en.aswataliraq.info/?p=135753

Meeting to agree on mechanisms to protect Iraq’s money abroad

Deputy Prime Minister Rouz Nouri Shawis on Tuesday chaired a meeting of a ministerial committee assigned to agree on mechanisms to protect Iraq’s money abroad, according to a ministerial statement.

The meeting comes within a series of meetings the committee held to adopt all necessary measures to protect and guarantee Iraq’s money abroad.

The U.N. secretary general’s report in this regard contains several positive signs as a result of the measures and steps adopted by the Iraqi government.

The meeting was attended by foreign, oil, trade and justice ministries, deputy governor of the Central Bank and a number of senior officials.

http://en.aswataliraq.info/?p=135758

Iraqiya, State of Law suspend talks

Al Iraqiya List suspended talks with the State of Law Coalition over the government formation.

The decision was made on account of Prime Minister Nuri Al Maliki’s statement labeling Al Iraqiya List as Sunni on base of which he is holding talks with the Coalition, Al Iraqiya spokeswoman Maysoun Al Damlouji said.

Al Iraqiya List should be considered as a national project not as a Sunni bloc asking Al Maliki to apologize, otherwise, talks will be halted, Al Damlouji added.

State of Law Coalition spokesman Hajem Al Husni justified Al Maliki statement on the other hand.

This is not an accusation and it does not require halting talks. Prime Minister Al Maliki was referring in his statement to a real balance in the upcoming national partnership government, he argued.

Al Husni hoped Al Iraqiya List would reconsider its stand in order to accelerate the government formation.

http://www.alsumaria.tv/en/Iraq-News...end-talks.html

Kurdish paper aims at ending Iraq stalemate

Kurdish Coalition Senior Member Mahmoud Othman told Alsumaria News Website that the suggestions of the Kurdish Coalition regarding the government formation aim at ending the political stalemate in the country that was caused by government formation crisis. Othman stressed that the political blocs that refuse these suggestions shall submit an alternative plan in order to negotiate upon the same and to change it so as it becomes the base of the upcoming government program.

http://www.alsumaria.tv/en/Iraq-News...stalemate.html

Zebari and Feltman discuss Iraq challenges

Iraqi Foreign Minister Hosheyar Zebari and assistant secretary of State for Near Eastern Affairs Jeffrey Feltman discussed the internal and regional challenges facing Iraq in case of ongoing political freeze over the government formation.

Zebari and Feltman conferred about US-Iraqi relations and followed up on the joint coordination committee for political and diplomatic cooperation. Both officials discussed Iraq diplomatic efforts aimed to remove Iraq from Chapter VII, a statement by the Foreign Ministry said.

The statement stressed the necessity to save time and convey a positive image of Iraq and the political process to the international community.

http://www.alsumaria.tv/en/Iraq-News...hallenges.html

State Law: Maliki is not obliged to apologize and his comments were misunderstood

A coalition of state law, said Tuesday that statements made by the Prime Minister's outgoing Nuri al-Maliki had been misunderstood by a coalition of Iraq, the promise of reactions last "excessive" and "will hold Doafa political one," and he was not Is obliged to offer any apology for it.

The leading coalition state law, Abdul Hadi al-Hassani told Kurdistan News (Akaniwz) states that "reactions coalition in Iraq was quick and carrying some kind of political sensitivity excessive" .. noting that "al-Maliki wanted Markup component Sunni Bringer (81) seats in the coalition, the Iraqi That the focus of appreciation and respect."

The coalition, Iraq decided on Monday, to suspend negotiations with a coalition of law against the backdrop of statements made by al-Maliki in which he described Iraq as "a Sunni Arab list," and demanded that Allawi "to provide al-Maliki apologized for millions of Iraqis who voted for Iraq as a condition for the resumption of negotiations."

Hassani explained that the "coalition of the Iraqi tried through his lack of commitment that Prime Minister Maliki is the next." stressing that "the Iraq review its position and move away from the introduction of political motives in the important files."

Hassani and that "the rule of law and Maliki are not obliged to apologize to an Iraqi, because the praise and show respect for the component can not provide an apology for praise or respect for him at the same time." and describes itself.

And demands that members of the coalition, the Iraqi Allawi need to file a lawsuit against Prime Minister outgoing Nuri al-Maliki in accordance with Article VII of the constitution for instigating the sectarian divide in Aitlavhm to describe him as "a Sunni list."

The escalation between the coalition and Iraqi rule of law, one day after the end of the meetings conducted by the Assistant U.S. Secretary of State in Baghdad, Jeffrey Feltman.

Officials want the Americans to persuade the president of a coalition of Iraq, Iyad Allawi, to accept the renewal of the Prime Minister's outgoing Nuri al-Maliki for a second term -running four years, in exchange for the post of President of the Political Council for National Security and the Presidency Presidency of the Council of Representatives, which rejected a coalition of Iraq, which stresses not to compromise on His constitutional right to form a government.

The country has seen since the announcement of the Federal Court for ratification of the election results on 1 June last mobility politically, between blocks four winning in the elections to form a government, but these blocks have not succeeded so far to agree on forming a government because of disagreements on legal block that will be charged to head the government Future.

Is a coalition of law and Iraqi intensive dialogues about a month ago in the framework form the next government, and the exchange of Allawi and Maliki's meetings after he decided to Iraqi National Coalition headed by Ammar al-Hakim to freeze negotiations with the rule of law in a bid to pressure al-Maliki to abandon himself to the post of prime minister, which Coalition rejects the rule of law insists that the only candidate for it.

He called the Iraqi National Coalition, on Tuesday, a coalition of Iraq to open serious dialogue with him and with a coalition of Kurdish blocs , to go ahead with forming the next government, a move seen by observers as an attempt to isolate the coalition, the provisions of state law and remove it from the circuit to form the new government.

The view of a coalition of the Iraqi biggest bloc that must be tasked to form a government building to achieve the highest votes in the elections held on 7 March last, in what the Coalition state law that the interpretation of the Federal Court to rule 76 of the Constitution had given the right to block parliamentary largest after the Alliance to form Government.

The results of the elections announced by the Electoral Commission for elections on 26 March on the progress of the Iraqi coalition winning 91 seats, followed by a list of coalition rule of law, a coalition to 89 seats, National Alliance 70 seats, the Kurdistan Alliance 43 seats.

http://www.aknews.com/ar/aknews/4/174428/

Rethinking the previously signed agreements with more than 20 countries

Department of Commerce announced completion of the study to review the agreements signed previously with the more than 20 countries, now that do not meet the new orientation in economic policy for Iraq. "said Hashem Mohammed Hatem Director General, Economic Relations, Ministry of Commerce."

This measure was taken in view of changes that have occurred recently working on completing the requirements of Iraq's accession to the World Trade Organization and to impose legal reforms to meet the conditions of accession.

He added : "The department completed the study to review all bilateral agreements with more than 20 countries after becoming Previous agreements do not meet the need for Iraq as a result of government policies to give greater private sector participation in the transition from centrally planned to a free economy." said Hatem : "The ministry is working to coordinate with the ministries and the Iraqi authorities related to the development of new agreements in the economic and technical cooperation between Iraq And the countries of the world and cured as the final presentation to the Council of State to check the wording and then submitted to the General Secretariat of the Council of Ministers for discussion, for submission to the House of Representatives for approval." and: "The department has achieved good results in more than 13 new agreement after the completion of draft agreements and submit them to Council of State as a prelude to signing the final agreement upon and highlighted what has been achieved is the Convention on Economic and Technical Cooperation between the Republic of Iraq and the United Kingdom in addition to the Convention establishing the Council of Iraq - France to employers and the draft economic agreement and trade with the Czech Republic, Slovakia, Slovenia, Romania, Bulgaria, Bosnia and Herzegovina, Iran and Jordan." He Work to activate the joint committees in coordination with the relevant authorities as well as coordination with relevant countries on these committees to identify locations and dates for some committees, where she held meetings in the other while in the process of session and during the current year.

http://www.alsabaah.com/paper.php?so...age&sid=107302