Thread: My Turn With My Source. {Friend}

Originally Posted by neno

India oil companies to clear Iraq's new law for exploration
New Delhi, May 25, IRNA

India-Iraq-Oil
Visiting Iraqi oil Minister Friday said the oil fields awarded by the previous Saddam Hussein regime to Indian companies will have to clear the new law that the oil rich nation plans to pass in two months.

"We do want Indian entities to explore in our country. Iraqi government is, however, passing a new law and all contracts or oil field awarded previously will have to be vetted under the new law," Iraq Oil Minister Hussein al-Shahristani told reporters after meeting Prime Minister Manmohan Singh here.

India is keen on starting work on onshore block 8, that was awarded to ONGC Videsh Ltd, the overseas arm of Oil and Natural Gas Corp (ONGC), by the deposed Saddam Hussein regime.

It also wants the US-back government in Iraq to honour award of Tuba oilfield to a consortium of OVL, Reliance Industries and Sonatrach of Algeria.

The consortium was shortlisted by the Saddam Hussein regime before the US invasion of Iraq.

Iraqi minister said the law has been passed by the cabinet and it would now go to parliament for approval, which would take a couple of months.

Iraq, which holds world's second largest oil reserve, is keen on Indian companies building new refineries and revamping old ones, he said.

Baghdad has invited Indian companies to build two refineries in Kirkuk and Missan each with a capacity of 100,000 barrels per day.

So is this good news or bad news as far as a possible RV this next week?

Originally Posted by ChiefWealth53

So is this good news or bad news as far as a possible RV this next week?

Technically, if parliament is really going to hash it out, and possibly take a vacation, it could take months. Realistically, it seems that if the cabinet has approved it and the Kurds are announcing they're ok with it, the true haggling is over. Given benchmarks, pressure, potential troop withdrawal, economic issues and everything else we constantly discuss, it SHOULD happen a lot faster though it COULD take months or years.

Originally Posted by neno

Just wondering if you have any new updates?

Thanks

It seems that they have until September to get things done or the house and senate depending on the generals report is good. If it's not you will see both sides looking to start a withdrawl of troops. Iraq better get it done by then or they loose our troops. IMHO.
mrvgs

i was looking at dinar on ebay and i found this in the quide section
this has got me worried now i was planning to buy alot of dinar

Iraq says considering knocking zeros off dinar

by: dealslot( 4701) 12 out of 15 people found this guide helpful.
Tags: Iraqi Dinar Facts

BAGHDAD - Iraq is considering redenominating the dinar, printing new banknotes to remove inflation-generated zeros from its currency, the finance minister said on Thursday.

Senior government and central bank officials have told Reuters the proposal has been under consideration for some time to make one new dinar equal to 1,000 current dinars, a move that would bring the currency closer to parity with the U.S. dollar.

Asked about such a suggestion in an interview on Arabiya television, Finance Minister Bayan Jabor said: "This is the ministry's suggestion to the central bank. We think in the long term it will be for the benefit of Iraq."

Jabor said surveys indicated popular support for the move. The oil-rich nation's currency was once worth more than $3, he recalled, before the ruinous wars and international sanctions during the rule of Saddam Hussein

Guide ID: 10000000001377479Guide created: 07/10/06 (updated 06/28/07)

Originally Posted by JIVE

i was looking at dinar on ebay and i found this in the quide section
this has got me worried now i was planning to buy alot of dinar

Iraq says considering knocking zeros off dinar

by: dealslot( 4701) 12 out of 15 people found this guide helpful.
Tags: Iraqi Dinar Facts

BAGHDAD - Iraq is considering redenominating the dinar, printing new banknotes to remove inflation-generated zeros from its currency, the finance minister said on Thursday.

Senior government and central bank officials have told Reuters the proposal has been under consideration for some time to make one new dinar equal to 1,000 current dinars, a move that would bring the currency closer to parity with the U.S. dollar.

Asked about such a suggestion in an interview on Arabiya television, Finance Minister Bayan Jabor said: "This is the ministry's suggestion to the central bank. We think in the long term it will be for the benefit of Iraq."

Jabor said surveys indicated popular support for the move. The oil-rich nation's currency was once worth more than $3, he recalled, before the ruinous wars and international sanctions during the rule of Saddam Hussein

Guide ID: 10000000001377479Guide created: 07/10/06 (updated 06/28/07)

Ok can someone explain this..thought there would be no reprint!

Originally Posted by snottynose

Ok can someone explain this..thought there would be no reprint!

Ouch! - I hope this not the case. So much spin going on hard to tell "who is on first?"

Originally Posted by JIVE

i was looking at dinar on ebay and i found this in the quide section
this has got me worried now i was planning to buy alot of dinar

Iraq says considering knocking zeros off dinar

by: dealslot( 4701) 12 out of 15 people found this guide helpful.
Tags: Iraqi Dinar Facts

BAGHDAD - Iraq is considering redenominating the dinar, printing new banknotes to remove inflation-generated zeros from its currency, the finance minister said on Thursday.

Senior government and central bank officials have told Reuters the proposal has been under consideration for some time to make one new dinar equal to 1,000 current dinars, a move that would bring the currency closer to parity with the U.S. dollar.

Asked about such a suggestion in an interview on Arabiya television, Finance Minister Bayan Jabor said: "This is the ministry's suggestion to the central bank. We think in the long term it will be for the benefit of Iraq."

Jabor said surveys indicated popular support for the move. The oil-rich nation's currency was once worth more than $3, he recalled, before the ruinous wars and international sanctions during the rule of Saddam Hussein

Guide ID: 10000000001377479Guide created: 07/10/06 (updated 06/28/07)

Well....... if this does happen, would our dinar in Warka Bank be affected? Anyone??