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

Iraqi economists: to reduce the financial claims of private banks is not feasible for the Iraqi economy

The Iraqi economists, Saturday, that the claims of the Ministry of Finance Central Bank of Iraq to reduce the number of private banks would not support the country's progress in banking transactions.

Amer al-Saher Qaisi told the Kurdish news agency (Rn) that "claims of the Ministry of Finance continued to the Central Bank to reduce and consolidate a number of private banks will not support the Iraq toward a free economy and unrestricted protein government as is the case of banking transactions (old) of the Ministry of Finance."

He pointed out that "countries that want to evaluate the performance of financial consideration to the expansion of banks that operate in accordance with legal procedures and scientific concrete."

And that "the central bank would allow an increase of private banks was not random, but worked on a road map Ondjt banking in the country."

The Ministry of Finance announced on May 19 Iraq's profits for the formation of a committee to develop and regulate the work of private banks in the country, pointing at the same time there is fear of the deposit of funds in these banks.

He denied the central bank in June 24 that the development of Iraqi private banks according to risk is confirmed by the Ministry of Finance down.

For his part, said Abdul Qadir, an economist for the structure (Rn) "The performance of banking sector began to show a clear lead in cash transactions because of new plans to follow suit with the nature of developments in the structure of economic relations between the countries of the world."

He explained that "the calls to reduce the number of private banks to disrupt the process of reconstruction and the fact that many companies have deposited their money in these investment banks because of the ease in which cash transactions recorded in accordance with the global financial systems overall."

And that "the Ministry of Finance is trying to limit cash transactions to the banks and the government is not acceptable because of the openness of cash occurred in Iraq, which Actions Quick restrictions and controls routine adopted by the Ministry of Finance."

The total capital of Iraqi private banks one billion and 600 million dollars now, other than bank branches owned by Arab and foreign companies operating in the country.

http://www.aknews.com/ar/aknews/2/198062/

Oil and Gas Exhibition in Basra contributed to the provision of hard currency to Iraq
Oil official in Kuwait: the forefront of Gulf investors

Continue in the province of Basra, oil and gas exhibition involving international companies and local demonstration of this unique and important at the same time. The most prominent of the local participants is the Iraqi oil companies, including Midland Refineries Company, which dealt with by the self-sufficiency in oil derivatives, and stay away from the stage of fuel crises experienced by the country during the last period. Where the exhibition was an opportunity which showed how the company managed to attain the production and rehabilitation of the old refinery in the session and the other refineries.

In addition to the establishment of new production units in most of the refineries of the company by adding large amounts of petroleum products to oil depots. And how they managed and ministries in the implementation of these actions in cooperation with companies dolly and private sector companies. Company sources also indicated the importance of foreign expertise and build bridges of cooperation with those companies that have accompanied the development in this field. Especially as the oil sector and the company in particular has a lot of investment projects during the coming years and are intended to implement the latest global road. To get to the production of qualitative and quantitative, which the ministry aims to achieve.

And in the oil sector, there are French companies operating in Iraq has achieved major successes in work and production of oil. This step encourages the presence of French companies to come to Baghdad. In particular there are some companies waiting for official approval to enter Iraq during the coming period. He won the French investor if you are "I came to the exhibition pregnant great hope to get into the field of employment in Iraq." Where we know from some Iraqi businessmen who Terptnha their business relationship on a small scale. That there is a wide field of action in Iraq was bringing economic and service sectors. Today, we turn to find us between the wings of the Iraqi ministries to participate to stand close to see the most important needs of these ministries. And aspiring projects implemented over the next year. This corresponds to our great desire to work within the country. Especially as the French companies knew the existence of its work.

Vice-President of the Federation of Iraqi businessmen stressed the importance of the exhibition in the economic reform. Where we found the Iraqi industrial as well as the global average in this exhibition. Referring to the Iraqi satellite roaming in these countries was assigned a lot of effort and money. As well as the difficulty in the passage. Thus we can say that Almars came positive results. Represented in the economic talks that took place every day of the width between the Iraqi side, both public and private sectors. And some are crowned with cooperation agreements are hoping to seed a prosperous economy. Because the Iraqi economy can not grow far from the global economy. Indicating that all international companies to participate in the exhibition to have a sincere desire to work in Iraq. This is what we saw through his papers is completely between the exhibition. As the global industrial companies expressed willingness to enter into partnerships with Alsnain Iraqis who have factories stopped. Where the parties discussed the mechanism of joint work and how they can be output during this period, and marketing outlets. In different areas of Iraq. Wi industries Thoudy interest of Iraqis. Noting that the Iraqi industries able to advance again if they provide the appropriate conditions. And global support through Aldetp advanced production lines.

To the detection of the Deputy Minister of Iraqi oil, while meeting the companies participating in exhibition Basra international oil and gas plans for the future that you intend to SoC application, which aims primarily to increase production and accelerate the turnover development and exploitation of all the oil capacity of undiscovered or untapped, as well as the establishment of three new refineries in each of Maysan and Dhi Qar, Karbala.

Ahmed said Chandler "The gathering of these international companies a great opportunity to clarify the needs of the Southern Oil Company will provide to the company and through the holding of formal agreements for collaboration with these companies and especially to the Southern Oil Company and the Oil Ministry seeking to increase production of oil and gas as well as the recycling wheel developed faster."

And that "the level of oil production variation and variation from year to year that we got in one of the years to import petroleum products because of war and looting, damage to oil installations, but the Southern Oil Company recovered and are now trying to access the production of oil equivalent production of international companies around the world".

The Chandler that "the Southern Oil Company is now the establishment of three new refineries which is refinery in Karbala with a capacity of 140 thousand barrels per day refinery in Maysan, a production capacity of 150 thousand barrels per day, the refinery Nasiriyah would be intended for export through the port of Faw where the design of refineries, three of Stalin Italian by a company. "He continued saying, "The Southern Oil Company is seeking to fill the need for full use of natural gas and export of several types of gas and future plans that have been developed include the rehabilitation of the refineries working."

In the same context, said Director of the Southern Oil Company said that Kuwaiti companies stand in the forefront of the Gulf companies seeking to invest in Iraq. He said Jafar, speaking to reporters on the sidelines of the conference, which was held in the oil and gas exhibition in Basra, said there was "a lot of Gulf companies seeking to enter the oil market in Basra, the gateway investment," pointing out that, including "oil and other drilling as well as investment warehouses and oil pipelines."

He explained that Kuwaiti companies come in "the vanguard of companies willing to invest has obtained Kuwait Energy Company a contract for gas investment in the field of Saybah (40 km south of Basra) will be signed soon," pointing out that among the other Gulf companies, "UAE and Qatar.

http://www.almowatennews.com/news_view_12216.html

Iraqi oil: our strategic plans have nothing to do political variables

The Iraqi Oil Ministry, Sunday, that the Strategy in its extractive capacity development will not be affected by changing the minister, indicating that they adopt a plan of long-term strategy to develop the oil sector in the country.

He said Undersecretary Abdul Karim Hattab, told the Kurdish news agency (Rn), said that "his ministry Vocational nothing to do with the political changes taking place in the country," noting that "the ministry is working according to the mechanisms of scientific advancement by extracting oil for lifting the economic capacity in the country."

The lumberjack that "the work of the Ministry of Oil in the previous phase was organizationally," pointing out that "the next phase in the new government will start the ministry from where Maantht current government."

Prime Minister-designate Nuri al-Maliki said in a press conference yesterday his intention to create the post of a deputy to take over energy matters to the advancement of the oil and electricity in the country.

Hattab and that "In the past, to move from zero, while the ministry is now developed with the participation of experts and officials and a strong foundation for the advancement of global wealth by the oil column is the basis for economic development in the country."

Revealed the Iraqi Oil Ministry in September last that crude oil inventories in the country was 505 billion barrels of discovered fields, which total $ 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.

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 up a third round of oil licenses.

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/2/198230/

Final draft of Shell's Iraq gas deal in 10 days

The final draft of Iraq’s multibillion-dollar deal with Royal Dutch Shell to capture flared gas at its southern oilfields would be completed within 10 days, a senior Iraqi oil official said.

The $12 billion deal, which includes Japan’s Mitsubishi, involves capturing associated natural gas produced at fields near the oil hub of Basra, including Rumaila.

“We are confident the final draft will be completed within a week, 10 days maximum,” Deputy Oil Minister Ahmed al-Shamma told reporters at an oil conference in Basra.

Last month, Oil Minister Hussain al-Shahristani had said the contract would not include the 12.6-billion barrel Majnoon oilfield being developed by Shell and its Malaysian partner, Petronas.

However, it will cover Rumaila – being developed by BP and CNPC, Zubair – being worked on by ENI, Occidental, KOGAS and West Qurna, whose two projects are in with Exxon and Shell, and Lukoil and Statoil.

The Oil Ministry delayed finalising the deal with Shell and Mitsubishi in September due to legal issues regarding the joint venture.

Iraq flares 1 billion cubic feet of gas every day at its oilfields — energy it needs to generate electricity in a country suffering from chronic power blackouts more than seven years after the US-led invasion.

Shamma said Iraq’s current cabinet had the authority to sign the contract, adding, he was waiting for legal advisers to review the final draft.

Iraqi politicians have been jockeying for positions in a new government since an election in March that failed to produce a clear winner. Two weeks ago, the squabbling factions reached a power-sharing deal and on Thursday, Prime Minister Nuri al-Maliki was given 30 days to choose a new cabinet.

http://www.business-standard.com/ind...0-days/416373/

Iraq has crashed like a plane without a ‘black box’

A black box in a plane is seen as more important than the plane itself. If a plane crashes, the discovery of the black box become a top priority.

The box is almost indestructible. For governments and companies finding and retrieving it in case the plane is destroyed is of paramount importance.

It is this black box which contains recordings of the status of the plane, the conversations between the pilots and air controllers, air pressure, altitude as well as the plane’s mechanical conditions.

Truth about what happened or what caused the crash are hard to obtain if the box is not retrieved.

I think we need to have such a black box to record the status of governments. And our government in Iraq should have had one long time ago.

The reason for the Iraqi government to have a black box of its own is quite clear. Everything in Iraq has crashed and fallen down.

The destruction is not confined to one or a few sectors. It covers the country’s industry, agriculture, the personality of Iraqi citizens, the fabric of the society, the status of laws and regulations and even the notion of democracy.

If there was a black box in Iraq, the new Iraqi government would have had the opportunity to open it before starting its new term.

This would have given it an overview of the past years and the blunders that have been committed and how big crimes have passed unnoticed.

Such a black box would have revealed for us of the murky world of the American and Iranian meddling in the country’s affairs and their role in its destruction.

The destruction of Iraq is complete. What the country needs now is to try to retrieve the black box.

http://www.azzaman.com/english/index...11-28\kurd.htm

Oil in a Week - the world oil market until 2030

Initiated the organization of «OPEC» since the early nineties to the active participation in the studies and specialized seminars in the studies of future energy. And reflects the annual report of the Organization for the future of the oil industry during the next two decades «global oil trends: 2010» Summary of studies and information that reached by the Organization on the future of the energy industry until 2030

Summarizes the Secretary-General Abdallah al-Badri in the introduction to the annual report of conclusions of the Chairperson are as follows: «The figures clearly indicate that there are resources enough energy for the future», it is clear «that there are several challenges ahead, including the extent of economic recovery and nature, and the continued pressure to reduce the demand for oil, indicators and the changing and uncertain about the stability of markets, and approaches to energy policy and economic development, President ».

The report indicates that demand for energy in general, including oil, is on the rise for various reasons, such as economic growth in emerging countries (China, India and Brazil), and the «OPEC» ready and able to meet the growing demand for oil. It also points to some of the difficulties that can face this upward march of oil demand, legislation such as laws on the grounds of national security or the protection of the environment, but its basis is either to reduce oil consumption or reduce dependence on import. Well, there are radical changes in the petroleum industry such as the commercial production of gas, rock and its impact on natural gas markets.

The report provides indicators and several directions, summarize some of them here, with reference to the global demand for commercial energy has increased gradually from 55 million barrels per day of oil equivalent in 1960 to 227 million barrels per day in 2008, with the continued increase in the rates of economic growth, global, and the increasing number population or to improve the standard of living especially in developing countries. available data show the high rate of global energy demand by 2030 about 40 percent. And developing countries will be the largest share of this increase in demand for energy, because it includes the largest number of the population and because Azdiadhm rates are high.

There is also adequate for the potential increase in demand in this group of countries because the standard of living continues to improve, which will lead to new and growing demand for energy. But the report indicates at the same time that the energy poverty in developing countries will continue, despite these radical transformations, while the Western industrial nations will provide the energy levels high for most people.

Indications that the long-term economic growth will be positive, which means that the rates of growth in energy demand will be high as well. The effects of these indicators in the positive potential growth rate of world population to about 8.3 billion by the year 2030, or an increase of approximately 1.9 billion for the year 2009. And developing countries will be about 95 percent of the increase. As the global economic growth long-term will vary from region to region. Here we find that the area of South Asia and China will be more developed regions until 2030.

The report also addresses the implications of the phenomena on the course of industrial power in the future. There is the phenomenon of gas, rock, and cited in this regard: «There is much talk and wide about how to change gas rock, the American energy market. figures that are traded have huge potential. And the emergence of the phenomenon of rock gas in the United States is the result of the high price of gas and the many attempts to avoid the scarcity of supplies there. I have been known for decades and there is gas rock, but it was difficult to extract so far, but the use of horizontal drilling and water-ROM strongly, helped to reduce the costs of extraction. The result is to reduce the expense of the cost of extracting gas, rock and change the economies of tear gas. There is now growing interest in gas-rock in both Europe and China. But it is not yet clear whether the gas will change the nature of the rock gas industry. But it is clear that it has great potential ».

As the report points to the dimensions of the deep drilling in the seas and oceans, and the impact of oil spills in the petroleum industry, particularly in offshore drilling in deep water, especially in the Gulf of Mexico, which is one of the sources of new oil to the United States. We refer here, of course, to an explosion in the field of Macondo in the spring. The report continues: «When you study the volume of future oil supplies, attention should be paid to the consequences of the possibility of explosions in deep drilling. There are the results of short-, medium-and long-term for the explosions, especially in the Gulf of Mexico. As is known, the ban imposed by the U.S. government after the accident Macondo has left its mark on the existing projects. It is very possible for more stringent laws in the future to increase costs, or deter access in many exploratory operations, which means that the costs of drilling in deep water will rise more in the future.

http://translate.googleusercontent.c...V4QzZw1lrHZfAA

Schlumberger U.S. wins contract to drill ten wells in West Qurna, Iraq

Informed sources said the Exxon Mobil U.S. oil giant and its partners have been granted a contract for the company Schlumberger oil services company to drill ten wells in the first phase of West Qurna field in Iraq.

The news agency Reuters news unnamed sources that awarded the contract has been in the past few days but the final contract has yet to sign with Schlumberger. And the new wells is part of the plan of a consortium led by Exxon to rehabilitate the West Qurna field, which signed a contract to develop a 20-year-old earlier in the year .

The sources added that the invitation had been extended to large service companies including Weatherford International and Halliburton and Schlumberger to participate in a new tender for the drilling of 15 wells were again being awarded this contract at the beginning of next year.

Also invited to the Iraqi Drilling Company-owned for the government to participate in the auction. Won the Exxon and Shell deal to develop the first phase of West Qurna field, with an estimated reserves of about 8.7 billion barrels during the bidding conducted by Iraq last year on contracts for the development of oil fields.

And Exxon and its partners have raised the level of production target of the first phase of West Qurna field, to 2.825 million barrels per day after the addition of new reserves for the region.

Iraq won a series of development deals with international oil companies, which could mean a boom for the acts of oil service companies. And got Schlumberger a contract for the drilling of new wells in the Rumaila last March.

http://www.ipairaq.com/index.php?nam...onomy&id=32995

Turkish Consul in Basra: Iraq's investment laws are considered "impossible"

The Turkish Consul in Basra province, said Monday that the investment laws in Iraq is "impossible", in terms of a foreign investor in the country and obtaining a work permit, which negatively affects the reality of the investment projects in Iraq.

Ali Reza Oozcokov, the Kurdish news agency (Rn) that "these laws are considered Tjeetien and reduce the investment opportunities in the country," noting that "the Turkish companies to invest in Iraq's provinces, despite the existence of these laws."

He reported that "the establishment of the foreign investor in Iraq, you must be at the disposal of guarantor of Iraqi nationality," noting that "the extraction of residence requires a period of ten days, and given accommodation for only six months, renewable."

With regard to obtaining a work permit is Oozcokov explained that "require a work permit to take a period ranging between five to six months," revealing that "the central government in Baghdad must agree to the work permit issued to the investor."

He added that "the provision of plots of land by the Investment Authority in the province, is not a factor for attracting investors," explaining that "the body to give these pieces as temporary rent money and not the exchange, which is not guaranteed to foreign investors."

However, saying that "the investor faces the problem of difficulty in withdrawing the money placed in Iraqi banks," noting that "when the investor wishes to withdraw his money from the bank, require official approval."

He pointed out that "the Kurdistan region of Iraq, does not apply to the investment laws in Iraq, helping to attract investors to it," adding that "ease of obtaining residency, work permits, banking facilities, guarantees and other facilities, of the factors that encouraged investment in the region".

The work of the Turkish consulate in Basra (550) kilometers south of the Iraqi capital, Baghdad, includes the provinces of Maysan, Nasiriyah, Samawah, there are currently more than a dozen Turkish commercial offices in Basra, it is hoped the opening of Turkish commercial attache in the near future in the province.

http://www.aknews.com/ar/aknews/2/198509/

Industry and Minerals: We seek to privatize all industrial companies in 2011

The Ministry of Industry and Minerals in Iraq, on Monday, as operating according to plan for the privatization of industrial companies next year.

The Minister of Industry and Minerals Fawzi Hariri told the Kurdish news agency (Rn), "The ministry is seeking to privatize all industrial companies according to Iraqi law to the advancement of the industry in the country if the availability of legal and regulatory environment and government support for that."

Al-Hariri explained that "the reality of the work of industrial companies of the Ministry is facing many problems highlighted Mort from the reality of industrial destroyed and dilapidated and needs to be integrated industrial policy of the government bring the parties to promote in the country."

He added that "the work of the Ministry of Industry in the previous four years was part of the available funds provided by the Ministry of Finance, so we hope to provide the next government needs of the ministry to promote the reality of the country's industrial funds and supportive legal legislation to the domestic industry."

And that "the main problem faced by the Ministry of Industry and Minerals is the loss development factors, the true reality of industries in the country, and allow the importer of the product to enter without restrictions imposed by the professional."

Economists believe that Iraq has lost the last four years more than $ 180 billion on goods imported from abroad.

The Minister of Industry and Minerals said that "the privatization of industrial companies require the provision of inter-governmental efforts from all parties for the advancement of the work by companies, factories and ministry."

And the longer the Ministry of Finance in November 12 / October, the Ministry of Industry and Minerals to work to transform its affiliates to self-finance companies in order to cover the expenses of its employees.

And the Ministry of Industry announced earlier that it will convert more than 15 companies to profitable companies early next year, after converting the 13 companies this year to profitable companies.

The system self-financing required to pay the state 60% of the salaries of staff, compared with 40% self-financed production of some government institutions.

It succeeded the Ministry of Industry rehabilitate 173 of the 184 laboratories laboratory. According to confirmations from the ministry.

http://www.aknews.com/ar/aknews/2/198558/

Oil Ministers meeting in Damascus postponed

Well informed sources in the Syrian Ministry of Oil said on Sunday that the process of forming two new governments in Baghdad and Oman resulted in postponing a meeting that was decided to start today in the Syrian Capital Damascus with the participation of the Ministers of Oil and energy of Syria, Lebanon, Jordan, Iraq and Turkey.

http://www.alsumaria.tv/en/Economics...postponed.html