Thread: Archive News - Iraqi Dinar Think Tank - 06/10/2010 - 24/01/2011

Contract to be signed to upgrade gas fields – official

The oil ministry will sign Sunday contracts for the development of Akkaz and Mansouriya gas fields with the companies that won relevant tenders, a ministry’s official spokesman said Saturday.

“The ministry will refer the contracts documents to the cabinet for review and approval, to become active, and ratification will take place by the companies,” Assem Jihad told Aswat al-Iraq news agency.

“The goal of the signing is to cover the local needs of liquefied gas and employ working hands, as well as the use of gas in petrochemical industries to positively reflect on the economic and human development,” Jihad added.

The third licensing round for the development of Iraq’s gas fields had ended by offering Akkaz gas field in al-Anbar province to South Korea’s Gas Corporation (KOGAS) and Kazakhstan’s Monai, half-to-half, with 50% to Turkey’s TPAO.

Al-Mansouriya gas field in Diala province was granted to a consortium, led by TPAO, also half-to-half between both companies.

http://en.aswataliraq.info/?p=138907

2011 budget to be approved soon – official

A member of the Dawlat al-Qanoon, Ali al-Shalah, said on Monday that the 2011 budget will be approved soon.

“The Iraqi parliament sent last Saturday a letter to the Iraqi government, asking it to speed up sending the 2011 budget,” al-Shalah told Aswat al-Iraq news agency, noting that the budget will be ready in the coming few days.

“The next budget will be better than the 2010 budget,” he added.

http://en.aswataliraq.info/?p=138968

Foreign influence behind Iraq power-sharing pact: analysts

Iraq's power-sharing deal, hailed as a sign of its factions coming together, is more a result of foreign powers' influence and was pushed in particular by the United States and Iran, analysts say.

The still-fragile pact has resulted in Nuri al-Maliki being awarded a second term as prime minister and finally raised the prospect of a government being formed in a country that has lacked a new administration since polls in March.

But while the deal illustrates the balance of power in the region, analysts say it may also have been part of an effort by the United States and Iran, the two biggest foreign players in Iraqi politics, to clear the decks for talks on the Islamic republic's controversial nuclear programme next month.

"The agreement came as a result of the confluence of various international and regional issues," said Ehsan al-Shammari, an Iraqi political expert.

"Iran was facing off with Washington and obstructing its efforts to form a government over the past few months. But now, it appears to be more flexible because it needed to conclude this issue as a prelude to addressing its nuclear issue through negotiations."

Shammari added: "The external and the internal situation (in Iraq) cannot be separated."

On Friday, EU diplomacy chief Catherine Ashton agreed to resume long-stalled nuclear talks between the major powers and Iran on December 5, although the venue has yet to be agreed.

Ashton represents Britain, China, France, Germany, Russia and the United States in the talks aimed at allaying Western concerns that Iran's civilian nuclear programme is cover for a weapons drive, something Tehran denies.

With those talks less than a month away, one Iraqi MP said Iran and the United States wanted to resolve the political stalemate in Baghdad so that they could move on.

"There are basically two countries trying to attract Iraq -- the United States and Iran -- and what happens here reflects their desires," the MP from the mainly Sunni-backed Iraqiya bloc told AFP on condition of anonymity.

"They want to maintain their influence at the lowest cost possible ahead of their dealings on other things," he added, alluding to the nuclear talks.

Hamid Fadhel, a professor of politics at Baghdad University, said he saw no direct link to the nuclear talks but agreed that the power-sharing deal could not have been struck without the backing of both Tehran and Washington.

"Maliki succeeded in being the acceptable choice of both Iran and America -- that choice kind of balances the interests of America in Iraq and Iran in Iraq," he said.

"Iran felt he was closest to Iran's policies, and the United States did not see him as against their policies, he was cooperative."

Fadhel added: "Without Iran's green light, this government would not have been formed."

A senior US diplomat, however, insisted that Washington exerted its influence only as a facilitator.

"I think they see us as a neutral broker," the diplomat said in a background briefing to reporters in Baghdad. "And I don't think there's anyone else in this country right now that plays that role."

Neither the US nor Iranian embassies in Baghdad immediately responded to requests for comment.

The power-sharing deal, agreed late on Wednesday, resulted in the selection of Osama al-Nujaifi, a Sunni Arab, as the speaker of parliament, with Maliki, a Shiite, and President Jalal Talabani, a Kurd, retaining their posts.

It also established a new statutory body to oversee security as a sop to Iraqiya leader Iyad Allawi, who had held out for months to regain the post of premier after his bloc narrowly won the most seats in the March 7 election.

"The delay to the formation of the government is because of regional and international conflicts," said Ibrahim al-Sumaidaie, an independent political analyst.

"The importance of regional balances is evident in the distribution of power... It must not be forgotten that the stability of this country reflects the stability of the region, and vice versa."

http://www.zawya.com/Story.cfm/sidAN...%3A%20analysts

Kurdistan strives to obtain finance or oil portfolios - MP

A member in the Kurdistan Alliance said on Sunday that the Kurdish side would strive to get the finance or oil portfolios instead of the foreign affairs in the new Iraqi government, reaffirming that the election rules would not allow the Kurds to get the foreign ministry for a second term.

"The discussions of the different political blocs to distribute ministerial portfolios in the new government, scheduled to begin after the end of Eid al-Adha holidays, point out that the Kurds are trying to get the finance or oil ministries, instead of the foreign minister post, occupied by Hoshyar Zebari, a Kurd, during the past years," Sheikh Fateh Daroghabi, a legislator from the Kurdistan Islamic Party, told Aswat al-Iraq news agency.

The Iraqi parliament, after eight months of continuous arguments and discussions that followed the nationwide elections on March 7, elected on 11/11/2010 a candidate of al-Iraqiya bloc, Osama al-Nejeifi as parliament speaker, the leader in the Sadrisit Movement, Qusay al-Suheil as his first deputy, and Member of the Kurdistan Alliance Aref Tayfur as his second Deputy.

The parliament also elected President Jalal Talabani for a second term in office. Talabani later assigned Prime Minister Nouri al-Maliki to form the new government.

http://www.zawya.com/Story.cfm/sidZA...olios%20-%20MP

Today's landing of the first plane from London for the past twenty years

The Iraqi Ministry of Transport, Saturday, for the resumption of the air route between Baghdad - London today and officially after a break for twenty years.

The spokesman said the media ministry Kausar Aqil in an interview with Kurdistan News Agency (Rn) that "the Baghdad airport will see in the sixth hour of the evening, landing of the first aircraft arriving from London on board, businessmen and owners of investment companies, British and a number of the Iraqi community."

He added that "Iraq is the newly opened air route Baghdad - Paris and today opens the line of Baghdad - London, which will contribute to the recovery of economic reality and investment between the two countries."

He Kausar that "the plane would be waiting at the Baghdad International Airport, a number of government officials, journalists and citizens," noting that "the reality of flights between the two countries will be by one flight a week."

The Ministry of Transport, last Thursday, the resumption of flights between Baghdad and London middle of this month after a break against the backdrop of a lawsuit brought by the State of Kuwait, Iraqi Airways is dissolved in the first flights between the two countries last May.

And stalled the work of Iraqi Airways, because of the lawsuit brought by Kuwait, as a result of the debt the Iraqi government decided early last March dissolution of the company and keep Bmlakha in legal step to drop the debt owed by the Kuwaiti company.

http://www.aknews.com/ar/aknews/2/195349/

Iraq is expected to produce gas fields at 25% in three years

He said Iraqi oil official said on Sunday that Iraq is expected to reach commercial production of gas fields, 25 percent of the production target during the first three years.

Abdul-Mehdi al-Amidi, Director, Office of the Ministry of licenses and contracts that the oil production target is specified in the final contracts will be achieved within six years.

He added that the signing of the initial contract for the gas field Akkas been postponed until after the holiday to give Kogas and Kasmonaegas more time to study the contract.

http://translate.googleusercontent.c...VONbkXHZZEzJ5Q

Property Bubble in Iraq

Property prices rose fast in Baghdad in recent years, going up 50% and even 100% in many places. Now, Nina News reports that property price rises in Wasit Province, halfway between Baghdad in central Iraq and Basra in the south-east, are “insane”.

Prices in the province are far exceeding those of neighbouring ones. The price per square metre in some areas of the capital Al Kut, on the river Tigris, now exceeds the prices of comparable properties in many developed countries, such as Norway, with the price per square metre now 1m dinars (US$860).

House prices have risen during the world economic crisis, despite food, cars, energy and other supplies falling in price. The blame is split between speculators and lack of supply. Social changes, with more divorce and more families splitting into smaller units, is also cited as a contributory factor.

Professor of Sociology Mohammed Saleh believes that more housing units need to be created for younger people and the right to re-sell should be postponed for 20 years to control speculation.

The Iraqi government is looking to build at least two million housing units in order to remove the shortage of liveable properties in Iraq.

http://www.iraq-businessnews.com/201...ubble-in-iraq/

Iraqi Finance ruled out privatization of government banks

The Iraqi Ministry of Finance, on Saturday, she ruled out privatization of government banks in the next four years, saying it seeks re-organization of the work of banks to make them compatible with global economic changes.

The adviser said the ministry Zia Khyoun of Kurdistan News Agency (Rn), "The Ministry of Finance to ponder is the privatization of government banks and separated from the Ministry of Finance, the fact that it hurts the economy in general of the country, the Ministry is seeking to restructure the administrative and cash to those banks."

The banks, Iraqi civil called earlier in the privatization of state banks, and to break the absolute monopoly exercised by the banks in lending and credit as a result of ownership of 85% of the cash in the country.

The Alckheon that "financial plans annually followed by re-organizing and making the administrative structure of banks, governmental organizations and make them compatible with changes in the global economy," noting that "The ministry urged the departments of banks need to expand its financial transactions with countries of the world, and continue to update the work and keep abreast of changes in financial dealings with the international banks. "

The good banks and Mesopotamia the largest banks in Iraq in terms of financial transactions, while There are 36 affiliate banks to the private sector, opened more than half after the events of April 2003. "

The Ministry of Finance announced that, earlier, for its efforts during the next year to develop an integrated plan for the development of government banks electronically, and activating the financial relations in this aspect.

http://www.aknews.com/ar/aknews/2/195391/

Oil experts are critical of the old methods used to extract Iraqi oil

criticized by two Iraqis in the area of Elicitations oil, Saturday, mechanisms of modern adopted by the Ministry of Oil in the process of extracting crude oil, which Atoizi in results Maoaln reserves of Iraqi oil, while the ministry stressed that it has cadres of engineering was able achieve great successes in the field of oil exploration.

The oil expert, Ali Abdullah al-Shami, told the Kurdish news agency (Rn), said that "The oil ministry over the past years did not have adequate qualifications to find and modern methods in oil exploration and extraction of oil through the new digital technologies."

The Shami that "Iran and Saudi Arabia passed through this dilemma and have formal agreements with international companies working to provide two means of advanced technology in the process of exploration of oil," noting that "the challenge facing the Iraqi oil ministry is the extent of its ability to convince the international oil companies by providing them with techniques of scientific good fit with the development of Iraq's oil. "

And Shami, who heads a research center in Baghdad's oil "We hope to exploit Wazzarpamlip increase in oil reserves of 115 to 143 billion barrels."

In turn, the expert said the affairs of the oil extraction for high-Muhammadawi (Rn), "The licensing rounds, the first, second and third must be accompanied by good support for importing modern technical equipment used for oil exploration."

She Muhammadawi that "The ministry lacks the Center Me shows us the monthly rates of extraction in the oil fields, compared with all the ministries of oil in the region with stations of the survey of oil," noting that "there is a routine out of date used by the oil ministry in dealing with my exploration and extraction of oil" .

And formed the oil ministry in July of 2008 an exploratory task force to look at the land of the Iraqi vehicles geology to be able to convert to the stock of oil.

And announced that the Iraqi Oil Ministry in September last that crude oil inventories in the country was 505 billion barrels of discovered fields that $ 66 oil fields, with total recoverable reserves of 143 billion barrels.

And the failure of the former House of Representatives to pass the oil and gas law, which was expected to rise in the oil situation Alibd, if approved, and sees a number of experts involved in studies of oil that Iraq is missing so far to the political oil and clear.

For his part, ministry spokesman Assem Jihad, the Iraqi oil for the (Rn), that "The oil ministry has specialized cadres of exploratory engineering has already worked on approximately 530 complex geology."

Jihad said that "the scientific teams of specialized petroleum exploration continues to work as they try to cover the territory of Iraq that are believed to include many geological vehicles."

The Iraqi Ministry of Oil of the Iraqi Drilling Company announced the completion of drilling of 35 wells oil since the beginning of this year in partnership with international companies in different parts of the country.

Iraq held two rounds of last year licenses to invest in oil fields resulted in winning several international companies of different nationalities to develop ten fields in different regions, then set Iraq on the fourth of October last third oil licensing round.

Iraq seeks to access the oil produced within the next six years between 10 and 12 million barrels per day, and plans to increase Iraq's oil exports oil daily after obtaining approval from the Organization of the international oil cartel.

http://www.aknews.com/ar/aknews/2/195420/

$100 Oil To Boost Iraqi Budget

Iran’s oil ministry has said that prices of US$70-$90 would not hurt the global economy, and even $100 might be safe.

“Consumers and producers are unanimous that the oil at $70-$90 prices are suitable prices and will not hurt the global economy,” Mohammad Ali Khatibi said.

“There are thoughts that an increase in the price of oil up to $100 per barrel will not create problems for the market.”

Anything in that range will prove a huge boost to Iraq, which has budgeted for just $70 oil for 2011. At $70 it will “almost” balance its deficit of $18bn, so anything more may bring forward its plans for a surplus, with a current target year of 2012.

OPEC is increasing its outlook for oil on the back of a recovering world economy, which will demand more oil. Its latest estimates put demand for next year up another 120,000bpd to 1.7m bpd. OPEC members are currently producing around 30m bpd.

http://www.iraq-businessnews.com/201...-iraqi-budget/