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Iraq Talks with Oil Majors; Deals Seen June
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04 May 2008 (FWN Financial News)
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Talks between the Iraqi Oil Ministry and senior executives from the world's largest oil companies are progressing and deals to develop the country's prized oil fields are expected to be signed in June, people close to the ministry said Friday.
Senior executives from Royal Dutch Shell PLC (RDSB), BP PLC (BP), Exxon Mobil Corp. (XOM) and Chevron Corp. (CVX), Anadarko Petroleum Corp. of the U.S. (APC),
France's Total SA (TOT) and Australia's BHP Billiton Ltd. (BHP) are holding talks with Iraqi officials since mid April, they said. These talks are expected to continue until May 9. A new and last round of talks is expected in June, they said.
Iraq wants to increase production by 600,000 barrels a day in six producing oil fields located in northern and southern Iraq. They are Kirkuk in the north, West Qurna 1, Zubair, Missan, Rumaila and Subba/Luhais in the south.
Iraqi oil officials have estimated the value of these deals at $3 billion.
Iraq is currently producing around 2.4 million barrels a day from its southern and northern oil fields.
The ministry delegation is headed by Natiq al-Bayati, head of the newly established Contracts and Licensing Office, and consists of representatives from the North Oil Co., the South Oil Co. and the exploration company at the ministry.
In February the oil majors and the Iraqi delegation discussed a template for technical support agreements, or TSAs, for producing oil fields which need further development. These TSAs are to last for two years and could be extended for another year each.
Shell is eyeing the development of the Kirkuk oil field, discovered in 1927 by the Iraq Petroleum Co. in which Shell was a shareholder. Shell and BHP will also explore development options for the Missan field near Basra, the sources said.
BP is discussing the development of Rumaila with the Iraqis, which it helped to discover and of which it recently conducted a technical study, they said. Rumaila has estimated reserves of 15.5 billion barrels.
ExxonMobil is eyeing the development of Zubair oil field in the south. Discovered in 1952, Zubair has estimated reserves of 6.1 billion barrels, the sources said.
Chevron has entered a joint venture with Total to develop the West Qurna 1 oil field in southern Iraq.
Anadarko, leading a consortium consisting of Vitol Holding BV and United Arab Emirates' Dome, is eyeing the development of Subba/Luhais oil field in southern Iraq, they said.
The oil ministry signed a deal with Petrel Resources to develop the Subba/Luhais oil field in 2005. Iraq's Oil Minister Hussein al-Shahristani said in March Petrel would only supply equipment.
The TSAs would be signed under the framework of the country's old hydrocarbon law as its new oil and gas law is still mired in debate.
Iraq announced last month names of 35 international oil companies qualified to bid for future oil and gas contracts to develop one of the world's largest oil fields. The companies negotiating the TSAs are among the qualified firms.
Iraqi economists participate in Arab conference
Baghdad, 05 May 2008 (Al-Sabaah)
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Several Iraqi economists and specialists in banks matters have participated in conference on money exchange and investment held in Cairo recently, arranged by banking establishment, belonging to the Arab League to discuss means of developing money exchanging in Arab world and horizons of bank cooperation.
Proceedings of the annual bank held by Arab Banks Union under the motto "Role of the banks in financing Arab investments" lasted two days had released in Cairo with participation of Arab and Iraqi banks' experts to discuss cooperation among Arab banks.
PUK Spokesman: "No Mistakes in KRG Oil Contracts"
04/05/2008
The Spokesman of the PUK Political Bureau, Mala Bakhtiyar, said that there are no mistakes in the KRG oil contracts. Speaking to the reporters after today’s joint meeting between PUK and KDP political bureaus, Mala Bakhtiyar explained how KRG signed the oil contracts with the foreign companies.
The spokesman said KRG signed the oil contracts in two different periods- those prior to discussing the oil and gas law with the Iraqi federal government as he called them "preliminary contracts" and those signed after that period.
As he said, according to the KRG Natural Resources Ministry’s report, there were mistakes in the preliminary contracts but they were corrected.
"We have evidence supported by the foreign experts which proves that there is no mistake in those contracts which were signed after discussing the oil and gas law with the federal government," Mala Bakhtiyar said.
Regarding the local suspended issues, the spokesman said the KRG Energy Ministry is expected to be authorized by KDP while the KRG Finance Ministry is by PUK in the current KRG cabinet after being reshuffled.
"Both political bureaus agreed that none of the political parties should be deprived of giving ministries," Mala Bakhtiyar concluded the press conference.
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The new law aims to protect investors
BAGHDAD - Hussein Star
The head of the Securities Abdulrazzaq Al-Saadi need to investor protection and the application of the principle of transparency in the work of the Commission, the market and companies working with it.
He said in an interview with "morning" during the conference convened by the Commission and attended by representatives of companies operating in the area of capital and a number of experts and concerned with this area to discuss the new law
Said: "The draft law was in conformity with the principles set by the World Organization of financial markets, law and went to identify bodies and the regulatory and administrative organization of the body and determine the mechanisms of financial, investment and operating companies working in the area of money in Iraq. The draft aimed at investor protection and market for securities Iraq of any possible hazards or crises .. The draft called on to disclose important principle of transparency via the reports issued by the body, the market and companies working with it.
He stressed We aim to form a body away from politics. He added that the draft allows freedom of action trophy in the market for companies operating in it.
He added that the adoption of its budget on central funding for public benefit, and called the draft law to that conflict resolution is in accordance with Iraqi law and corporate law .. Etc. from other law firms.
The president set the goal of the law that calls for action to encourage capital according to fair competition.
In conclusion, he said that this law will serve to support the company shares and holds data subscription and contributes to the legislation and subsequent market players to Iraq for securities through action to deal with cases of fraud, exploitation and contributes to reducing financial risks in Iraq.
Then reopen for the present and participating in the conference, Mohamed Chandler "financial expert" The draft is still vague in terms of identifying a cadre of law and ignoring the role of banks and the Central Bank in the body and senior management on the grounds that the cash based on the central bank and banks operating it, so Must be taken into consideration, said that version is still a language is incomplete and needed to define the terms of the law.
He stressed that reports annual profit realistic we have to take Bnzeralaattabar for the issuance of an annual report clearly defined and noted that their current draft calls for protecting older investors, not younger ones or even the participation of the citizen, yes, that the law allows for some companies operating in Iraq market for securities not disclosed in Some cases, this is contrary to the transparency advocated by the law, but Chandler praised the law by identifying a period of the account by providing companies operating 120 days instead of 150 days as in the old law.
With Mr. Osama Mohammed Ali "financial expert" There are some concepts used is not clear word rackets, it means people work in securities on his own, but for that particular paragraph in the third page of the law did not specify the middleman working or not.
He called for clarification of what is replaced with the term subscription offer, and added that he did not have to add a major in law and clarify the role of the potential participation in economic decision-Iraqi industry, raised the important point about the establishment of joint stock companies especially after the draft defined that the proportion of shareholders not less than 20 % But this point is not clear but not pursued by the founding shareholders and the greed that they now control the company's capital is 100%.
He called for the identification of a specific percentage does not exceed 40% and the rest invites the public to subscribe and to achieve this will protect the small investor.
Professor Ghazi we "journalist and financial expert" opinion that the use of the term "best efforts" in the second page of the draft law is not possible because the word amazement legal terminology in Iraq.
He called for the use of the word mediator allowance trading rackets and stressed that he could not use the term "legal personality" which has no place in Iraqi legislation.
Dr. Magid Image "Expert Aksadi" said the draft needed to be reconsidered in terms of language and questioned the vagueness of the definition of financial paper in Article 4, paragraph c that there are bonds issued by the Iraqi government or on behalf of, and this makes us before the problematic relationship of the Centre Region.
He praised Dr. Magid law adopting the idea of hiring pension funds because of its role in investment and active and fruitful experiments there could be cited as happened in Jordan.
Magid called for reconsidering the law firms in the light of the Iraqi draft law the General Authority for Securities Commission of the need for broader powers under that law not to mention the importance of the Iraqi capital markets.
Asked Professor Nadim Al-Salihi, when reading the draft did not know that the planned legislation and market a new law has market or association or body urged the company to be open to the public from small investors in order to entrench the concept of real savings and pointed out that there are many funds now we treasure without the benefit of remembrance and noted In the case of recruitment of these funds will come within the GNP of Iraq, said Professor Nadim played funds retirees and pointed to the experience of Britain not to give cash payments to families of martyrs, but they founded the company and shares in the company of those who had achieved profits of the task and had projects in Iraq such as the helm of Kut and building Mill house in Camp Sara.
He called for reconsidering the subscription banks, especially a farewell at the Central Bank of Iraq, and stressed that it is essential that there would be easy to dispose of the property rackets .. He called for the development of the market for securities Iraq .. He praised Iraq that race in the stock market and laws, pointing to the Stock Exchange year 1936 "Grain Exchange" Please Hashem representative of the Central Bank of Iraq said we call for commitment to company law is the law and a good catalyst for action in Iraq.
http://www.alsabaah.com/paper.php?so...page&sid=61418
U.S. government report reveals rise in Iraqi oil revenues during 2008
د - 04/05/2008 - 10:39 am Business and Economy - 04/05/2008 - 10:39 am
ت Press file - Agencies
ظ نحو 21 كله . Noon American official report that Iraq has until late April last proceeds from oil sales reached about 21 billion dollars, equivalent to about half the gross proceeds of the whole in 2007. وكرإلى 9.20 ار. The report revealed that the situation in Iraq weekly issued by the Office of the U.S. Special Inspector for reconstruction in Iraq, the Foreign Ministry's that even the April 27, the increase in Iraqi oil revenues reached 9.20 billion dollars. لالعام 2007 ور دولار مقابل 3.31 2006. He pointed at the same time that Iraqi oil sales in 2007 reached 41 billion dollars against 3.31 billion in 2006.
وفة . He attributed the report to both the increased Iraqi oil exports from the south and north across the Line of oil. Addition to the global increase in oil prices, which exceeded the rate of 111 dollars per barrel in spite of its recognition that Iraqi oil is sold for less than the world price.
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House of Representatives is expected to refer decisions (5 April) to activate the form of legislation
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three important laws to parliament this week
معات House of Representatives is expected to refer decisions (5 April) to activate the form of legislation
بغح BAGHDAD - Al Sabah
يعمقبل، Before the House this week a number of important laws to be discussed and voted upon, most notably the discussion of the election law and ideas that were raised when in order to facilitate the holding of provincial assemblies early next October,
واقرارل ايام. The adoption of amendments agreed between the political forces of law dismissed politicians, is awaiting the law of oil and gas blocs of political talks ended after the government make adjustments and access to the Parliament a few days ago.
في (اتفاقتشريعات. Meanwhile, parliamentary sources said the coming period will witness the activation of the political decisions of the Council for National Security (agreement on April 5), in the House of Representatives by translating the recommendations into laws and legislation.
قاي . The decision of the House of Representatives Mohammed Mahdi Al-Bayati told of the "morning" that the Parliament had "acknowledged that the law dismissed by the politicians, but there are some amendments put forward by some committees because of its great importance to the important segment of the Iraqi people suffered in a time The first expulsion of marginalization and exclusion, "pointing to the existence of an agreement on some amendments, the law will be introduced Tuesday or Wednesday next, after several amendments related to the interests of separated in order to undermine each separated his right hand or the appointment of monthly earned result of the government Years of detention or expulsion.
ت Oil and gas legislation
وب . He said there are some important laws ready and awaiting the House of Representatives to vote or discussion, agreement was made by the Cabinet and Parliament, especially as some delayed more than the time required, explaining that "the law of oil and gas after it was returned to the Cabinet because of some differences in By the leaders of the bloc have been many changes from the government and is now in the possession of the Parliament for discussion, it is legally important for Iraq and its economy and its future ", indicating that it would undoubtedly soon after the first and second reading to him, but he did not specify a date for discussion hidden and certainly that the law Arrived in the House of Representatives.
وكاالعفود. The parliament has approved last February three important laws in one go, namely: the state general budget and a law of amnesty and elections for provincial assemblies and then returned this step a major achievement that opens a new page of reconstruction and the political consensus in the new Iraq.
مبا . The statement pointed out that the electoral law will be raised at a meeting the day after tomorrow, Tuesday, and discussed by the competent committees and members of the House, especially as the law of provincial assemblies identified the first of October, the date for the holding of provincial assemblies, since it without a law can not hold elections.
وكان ودي. The Council of Ministers has issued last month, a draft law on election of provincial and district councils and respects according to the latest amendments, and that the draft law aims to organize elections in a fair and impartial to all provincial and district councils and wards so that these elections will be democratic and transparent, as revealed by government spokesman Dr. Ali Skinner, that the bill will open the existing method that allows voters to choose a candidate from within the electoral lists, according to the individual nomination.
ورمقبلة . He explained that the decision of the House of Representatives tabled in Parliament contains no discussion of the delegation's visit to Iran since the coalition issue with the coalition, particularly after the transfer of some files delegation to Tehran on the security situation and the nature of the events taking place in Iraq from security operations against armed and law-breakers, but it However: "If asked members of parliament to discuss the matter could be discussed in parliament," adding that the committee set up by Parliament and private Sadr City still exist and exercise their role is scheduled to submit its report to the House of Representatives to discuss topics related to some hot topics, as they -- Committee - raised some questions about her visit to Sadr City and Basra and other matters will be discussed during the coming days.
تفعيل مقررت. In the meantime Hassan al-Shamri said Deputy Prime bloc in parliament Virtue: The coming period will witness a referral decisions of the political council of national security to the House of Representatives to convert them into legislation and laws, and confer legitimacy on these recommendations.
وكيع. The Political Council for National Security has issued a recent statement from the 15-item nationally, in the forefront, calling for solution of all militias and disarming and restructuring of the Government of National Unity, the elimination of all judicial organizations illegal, and quickly amend the constitution and condemning outside interference. ـ . He told Al Shammari "Sabah" that the Council's work focuses on the political situation Strutejiat national, as the country's politicians and heads of parliamentary blocs are Shapers him, noting that the Council's decisions will be transferred to parliament for consideration and approval in the form of legislation and laws. For his part, said the Kurdistan Alliance member Mohsen Al - : The decisions of the political council was positive, and endorsed by most of the parliamentary blocs and acceptance. Sadoun stressed in a statement to "Al Sabah" was important to make those decisions through laws making it to be voted upon within the House of Representatives, to be bound by execution, calling the presidency of the political council to send recommendations In the form of a draft law to be legislation in parliament and work out.
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Maliki: Iraq can only be free and strong guarantee for stability and security of the region
(صوت العراق) - 04-05-2008 (Voice of Iraq) - 04-05-2008
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ة". Prime Minister Nuri al-Maliki, Sunday, that "Iraq can only be free, sovereign and strong and will not be a follower of one because of its world heritage and history, and that a stable Iraq, a strong guarantee for stability and security in the region."وين فرصة ى." He added al-Maliki in a speech today during his meeting today with a delegation representing notables and tribal elders governorate of Karbala that "Iraq will emerge from this period, ideas and thoughts deteriorating gangs who have found in some titles such as the opportunity for infiltration to implement the objectives and strategies of others."
جرحل." He continued by saying that "Iraq which is under the State Constitution respects the responsibilities and obligations towards the international community and neighboring countries and respects the relationships and looking for a better opportunity to establish good relations with neighboring countries because they do not stay on neighboring countries are not we moving journey."
و حس ". Al-Maliki said "we must think good relations with all neighboring countries" and called on those States to "think good relations with Iraq because Iraq can never be any thought of some, whether minor or major states neighboring or non-neighboring only be strong and free and sovereign In his surroundings. "
وبع " . He added: "But some people think that Iraq is a follower of the subject or the other side is not possible because Iraq, including the legacy of history and nature are not affiliated."
وأافي." He pointed out that "if the region wanted stability for Iraq should be stable and strong because he qualified and possesses all elements of the physical, intellectual, humanitarian and geographical location."
نعراق ." Maliki pointed out that "there is a strong Iraq to guarantee the security of the region and the existence of Iraq's sovereignty is infringed by the weak element of concern and confusion in the region, the region will never be stable only to begin the process of stability in Iraq."
ولق." He pointed out that "it wants to stabilize the region on the basis of good neighbourliness and cooperation and integration and to open new pages on the ruins of bad pages of the previous regime should help us all to build a strong stable Iraq, no one interferes affairs," adding "but everyone can be supportive partners To the process of stability in the region through support stability in Iraq. "
واق من." But pointed out that the primary responsibility of Iraq, adding, "We do not want others to come to Iraq in order to establish a pattern of stability for us all to style, but this our responsibility as people of Iraq may agree to disagree and then stabilized and we want others to understand and consider Iraq Iraq Naked large it deserves. "
دأمام ." The follow-up "if they looked to Iraq from this site that it deserves, which is the element that would be helpful in pushing forward the process of stability."
وقااطن ار." Al-Maliki said that "our country and our people is inappropriate to be on this case, Iraq is rich must be a citizen's life and well-being commensurate with its wealth," pointing out that before the Iraq "after the major responsibilities of stability, security and confront gangs and outlaws from the law, which The responsibility of building and reconstruction. "دنا واعمارنا وبناءنا " . He added al-Maliki "Iraq has enormous wealth to now not been exploited and we must take advantage of our production and export and import, Amarah and constructive."
ولفااق." Maliki pointed out that "Iraq intended to be begging for state aid and Iraq can not ask or beg for help from anyone," adding that "there are debts owed to Iraq."
وة ". However, he said these debts "debts invalid because they supported debt of dictatorship and war machine destroyed the Iraqi people did not enter this debt in building a bridge or a hospital or a school."
وم." He continued, saying "these debts are debts of war, which first struck upon the evil of the former regime's policy to know that we also partners with them, we also paid the price for the Iraqi people pay the price like them."وا " . He added that al-Maliki continued in Iraq "needs no assistance and, finally, we can employ the correct and wise policy not to purchase receivables and distribution of funds illusions authoritarianism and empire and the search for influence here and there and interference affairs of other States," pointing out that "the Iraqi constitution does not accept that interfere in the affairs of others and refuse to intervene Others affairs. "
وقفاقات . He said al-Maliki that the process of reconstruction needs to be a safe environment so that companies can come respectable big for to implement all agreements.
ور." The Iraqi government held extensive agreements in various fields including electricity, oil, construction and services but added that "everything that is damaged because of what the practice of criminal gangs and even a threat to companies," adding, "I am impressed by them why they want from Iraq, why threatens contractor Why kill and ravage the bodies and prevent companies and hit the bridges. "
بة " . He pointed out that the Iraqi government "before the first confrontation is the face of those who have mental harm and vandalism, before the task and responsibility of the process of reconstruction which is also a difficult task." امار." He added: "But bring you good news that the reconstruction process started contracts, companies and existing funds sufficient Our problem now is not in money but in exchange for the absence of an efficient corporate level," noting that "One of our problems is how companies are lured to spend the funds allocated to the reconstruction process."
وعراق ". Regarding the recent law enforcement operations in Iraq said al-Maliki has "begun the real process of construction of the State, while imposing the rule of law and we have a balance between citizens solely on the basis of tenders for Iraq."
ول." Maliki stressed that "building a state of law is the most important could be transmitted to future generations must for the Iraqi people to achieve their aspirations and benefit from the wealth and a better standard of living."دخو و حزب أو طائفة." He continued by saying: "Those who want to return Iraq to the era of dictatorship and terror will not be able to govern and those who must enter the Gate of the Constitution and elections will govern Iraq after the day by a person, or party or sect."
د س ك (م)- ح إ ح Dr. S. K. (m) - h a h
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Despite the improvement of security and stability of the dollar .. local market is witnessing a rise in prices!
Controlling prices of goods imported and domestic value of U.S. dollar exchange rate against the local currency. Often talked with the declining economic crisis or high U.S. dollar exchange rate. What is striking to look into the Iraqi market is that prices rise gradually without taking into consideration the exchange rate of decline in the dollar The specialists in the economic aspect as the price comes against the backdrop of the collapse of local industry. It is no secret about the people proximate that once Iraqi private sector is still stalled because of the House during previous years which saw dramatic situations. The owner of those years the inability of industrial banks to provide loans deserved (the product Iraqi) in the development work to restore Iraqi industry to the category of neighbouring States, which is rich in many different industries and has become the bulk product competes globally.
Talk about the domestic industry low as highlighted during the past five years, crowds of local importers to dump the Iraqi market which has become an arena for the disposal of all goods not conforming with legal requirements and goods entering the market poor in ways that do not know the corridors? Today, after more than five years citizen tastes bitter suffering joints in all the difficult life. It became necessary to put solutions to those suffering after establishing security and stability. We place a new war of attrition name income of living of the ordinary citizen. Which raises the attention-based accounting squatters on profiteers through observation and the abusers accountable. Everyone knows that there is no spark firing bursts to attract Alantaba of security services. . Situation every day and feel flimsy pretexts of the perpetrators. Citizen has become the vortex of high prices, mostly accused those responsible held accountable not greedy merchants and the other part will tell the Ministry of Commerce blame for not delivering items fulfilment of the ration card, which impacted on the rise foodstuffs The farmer who provides the basket was good of the Iraqi family had abandoned their land simply imported from neighboring countries.
Low income
The first station in a market session, which resumed its activity after years of deprivation and destruction long after the terrorist operations. Imad Khalil was the first speaker to us from higher food prices. He said it is natural to see a big rise in food commodities and the impact of domestic turmoil security conditions and productivity, thereby increasing the problem is also the recent increase in the salaries of retirees in recent times. With rain Mr. Aziz said that the reasons for the high retiree any article of food comes against the backdrop of unstable security situation in general, which makes it easy to process the majority of traders to raise prices at the expense of the citizen, who does not have the capability to stop those tugging at high prices. The result, we believe that the citizen has become between the claws of the flames prices after an absence of government agencies to deter greed .. traders With Ms. Jinan or 56 years is no doubt that most affected are the owners of limited income. . They attributed the reason for that to the inability of the private sector get back on their feet as Ms. Or Jinan saw that the private sector is the fountain of the economy in any civilized country ..
Low offset rising
With Mr. Salim Jawad said economic professor at the Faculty of Administration and Economy University of Baghdad: local markets witnessed a remarkable fluctuation in the past years in the U.S. dollar exchange rate that resulted in a marked escalation in the prices of foodstuffs and other which was linked to rise and partial fall at that time. Where the impact of this rise in the large class of poor and bad of the monthly income of the family. .
Conversely, the Central Bank of Iraq to pump large amounts of hard currency market to avoid the rise again and keep my time and even the U.S. dollar exchange rate which became worth of local currency between 120000 and 123000 thousand Iraqi dinars. But we have not seen a real decrease in the food and other materials that were imported in hard currency when the dollar exchange rate exceeded (200000) thousand dinars in the past years. This is one of the things that was argued by most traders. He also added that the problem has not yet finished lower U.S. dollar exchange rate, but produced other facts revealed by the fact that most importers and traders who still insist on arguments security situation and lack of fuel crisis in the production of electrical energy is one of the factors affecting the price rise not to mention the lack of commitment by the Ministry of Trade processing Citizens of all items of the ration card which became Moussa stick by the argument weak souls.
Are tied
We met a number of shop owners who refused to sell conclusively links the high prices of foodstuffs. Abu Abd Allah shop owner to sell his vegetables. The high food prices caused by recent major importer and owners of the sentence. We believe that the majority of fruits and vegetables that we offer in their shops are imported from neighbouring countries, in contrast to the years preceding overthrow the regime since the majority of foodstuffs (agricultural) of farmland and local subsidized significantly from the farm at the time. So we have not seen a product importer in our markets contrary to what we see now With Mr. Hassan said that Assem problem of high food prices comes after a decision by the Government to increase the salaries of employees and retirees. This is no different for two! Since we are accused of selling and buying process, we want the government agencies that provide us with security and liquidity needed by all farms to be the final outcome in the provision of domestic and agricultural basket at subsidized prices. It is unfair to be charged in the box and we import these goods from the primary at their own expense and without any assistance from the government parties.
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Experts recommend economy in the world maximum benefit from the opportunities conducive to the rapid developments through the benefits of such investment opportunities
If we compare the development of Iraq, which possesses the largest oil reserves in the world the Arab Gulf States that have achieved quantum leaps and progressed rapidly and dramatically in the growth of their economies, Iraq will still live in the whirlpool and a waste of time .. The time factor is calculated economically extent the ability of countries to invest golden opportunities.
The price of oil which is witnessing a marked increase, which exceeded the $ 100 achieved a lot of countries that have invested reserves correctly, and in return Iraq will lose a day many of these golden opportunities because it did not do so now the subject of investment reserves of oil.
Recommends the need to speed up oil experts directly involved in exploration and development of unexploited fields and felt the need to retain this task to international companies to avoid the risk of losses that may occur due to the success of non-oil operations.
But we have to to forget the feet of the Ministry of Oil investment opportunity but in return we Approaching the opportunity factor of time through the rehabilitation of 120 international companies in the training session lasted for days in the contracts and licenses resulting from the rehabilitation of 35 companies can compete for contracts and licences.
"It should be employing these opportunities a way to invest in rebuilding Iraq and advancing sustainable development. The development requirements call for encouraging and supporting the Iraqi private sector to competition is an important factor in the success of the Iraqi experiment and remember the experience of the global oil company Crescent and (Dana Gas) led by the Iraqi mentality in the management and implementation of projects in all states in the Middle East and the Gulf and more recently their experience in Iraqi Kurdistan for gas production and development Fields.
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Thats if you believe these bs numbers...lol same crap all the time...the ol' 2 sets of books..allways round #'s except for a few times...get lost
The 1157 daily currency auction was held in the Central Bank of Iraq day Sunday 2008/5/4 so the results were as follows :
Details Notes
Number of banks 15 -----
Auction price selling dinar / US $ 1202 -----
Auction price buying dinar / US $ 1200 -----
Amount sold at auction price (US $) 91.520.000 -----
Amount purchased at Auction price (US $) 520.000
Total offers for buying (US $) 91.520.000 -----
Total offers for selling (US $) 520.000 -----
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The imminent end of an era oil
GMT 11:00:00 2008 Saturday, May 3
Economic Saudi
Fahad Ibrahim Alcthrey
Oil prices exceed $ 100 and approached the $ 120 during the past week highlights the question about the possibility of oil prices continued to rise and reached the 200 dollars for example. Everything possible, but what draws attention is the significant acceleration in price increases, which did not exceed the period required by the high price of a barrel of oil at $ 20 months only, while requiring the high price of oil and broken the barrier of $ 100 for dozens of years. This confirms what the many specialists in the economics of the oil that once exceeded the price of a barrel of $ 100 acceleration rise unprecedented. But whenever the price of oil rose to new record level have been useful for us to prepare what is worse, a decline dependence on oil as an energy source and has also accelerated. Where will the demand for alternatives to oil currently available bio-fuels and nuclear energy, hydropower and others. The rise in oil prices to new record levels and encourage many countries to adopt these types of energy for the emergence of economic viability and with its adequacy and independence in the energy field.
Among the most prominent sources, which increasingly rely on bio-fuels now (ethanol) extracted from plants. This source is relied upon heavily in the United States, Europe and even more in Brazil, which is planning to shift to the adoption of macro biofuels. This represents a shift for Brazil's strong support for its economy as it represents a comparative advantage as they are extracting ethanol from sugar cane, which represents the best sources of biofuels. U.S. ethanol extracted from corn production, which represents a comparative advantage there, but much less than ethanol from sugar cane. The increased production of ethanol in the United States from 38 to 154 million barrels between 2000 and 2007 which shows a growing reliance upon a source of energy. The problem that has emerged and will lead to reduced reliance on this type of energy is a big influence in food production, which led to what the world is witnessing a rise in prices of food commodities.
Other sources are also important but each of them either negative effects on the environment or that there were technical problems that impede the process of expanding reliable. For example, solar energy, which is characterized as a renewable source of uncontrolled specific geographic area, and is under the control of any person. But the problem is that the expansion of relying on solar energy relies heavily on progress in photovoltaic cell technology which draw energy. It makes these cells from silicon material, which is widely used in other industries, which means the adoption of this technology on non-renewable source. Nuclear energy problem they do not achieve independence because of the need to import nuclear fuel enriched, characterised by high capital costs and risks of operating large. If so far do not constitute sources of energy such a real threat to oil because it represents the best in the face of the source of energy, but increasingly rely on the feasibility of higher oil prices.
But there is a new source under the experience that he wrote his success will change the face of history and will result in large quantities energy and natural resources available in nature, which is largely hydrogen and the resulting material is a helium, which can be pumped into the air again without causing injury to Environment. The project, which works by Europe 15 years ago a lab physicist is a huge magnetic total length of nearly 27 kilometers and a depth of 100 meters below ground and extends in both the French and Swiss. The idea of trying to project the events of the collision of protons of hydrogen quickly after pumped nearly the speed of light aimed at resolving the most complex puzzles in physics, the so-called dark side of the article and the universe, which constitutes 96 per cent of physics. This experience would be succeeded knowledge of physics into a new phase in full and will lead to a revolution in all scientific fields. One of the most important areas that could be affected by this experience as energy sources is expected to result in very large collision energy can be used as a safe and available energy, which represents a real threat to each other energy sources, primarily the oil. This means that a future alternative to oil during the past 20 next year at the latest, which raises a major question mark about what Seoul to our economic map of the world during the next few decades.
http://www.elaph.com/ElaphWeb/Econom...8/5/327258.htm
UAE: linking currency and oil prices, inflation enhances
GMT 16:00:00 2008 Saturday, May 3
Reuters
DUBAI: The Emirati Minister of Economy said on Friday that linking the currency exchange rate and high oil prices mean that inflation but said it must deal more caution with exchange rates and other tools.
The UAE first country in the Arabian Gulf region follow the example of the seventh reduction in U.S. interest rates since September on Thursday. And linking the exchange rates of currencies of all the Gulf Arab states except Kuwait in U.S. dollars required States to emulate the Federal Reserve Board (CBE U.S.), although inflation in the economies and increase in recovery.
According to the statement of the Economy Ministry said Sultan bin Saeed Al Mansouri, Minister of Economy of United Arab Emirates in a conference in Beirut that the phenomenon of inflation is the result of an expected economic recovery in the region, but increasingly by other factors such as high world prices for foodstuff and currency exchange rates linked to U.S. dollar.
He added that the tools of monetary policy, exchange rates and financing options must be examined more carefully because it might cause a degree of economic distortions.
Mansouri said last month that meet the inflation target figure Emirates this year of five percent would be "a miracle".
The UAE has tried to curb inflation signing agreements with supermarket chains supermarkets to stabilize the prices of food commodities at levels 2007. The producers of oil in the Gulf to impose caps on rent and raise the salaries of public sector workers and supporting food commodity prices.
According to estimates from the National Bank of Abu Dhabi inflation reached its highest level in 19 years at 9.3 percent in 2006 and is likely that accelerated to 10.9 percent last year.
Mansouri said that some countries have chosen to resort to a basket of currencies and other nations are still assess the impact of revaluation.
He added that although there is no single remedy to the problem of inflation because each state has its economic power of the only specific actions we must take is the prudential supervision of trends in regional and global financial and act accordingly.
www.elaph.com/ElaphWeb/Economics/2008/5/327258.htm
Iraqi oil exports to raise its game the U.S. administration
BAGHDAD: American sources expected today, Friday, the arrival of Iraq's exports of crude oil during the current year to record levels to reach seventy billion dollars.
وكشقت المصادر عن تقرير وضعه ستيوارت بوين المفتش الخاص بإعادة إعمار العراق, والذي قال فيه:" إن هذه الزيادة في الموارد النفطية ستؤدي إلى تحميل حكومة نوري المالكي مسئولية أكبر في إعادة بناء العراق". The sources of his apartment on the report by Stuart Bowen, Special Inspector the reconstruction of Iraq, which he said: "This increase in oil resources will lead to download Nuri al-Maliki government greater responsibility in rebuilding Iraq."
ومن جهة أخرى كشفت مصادر مطلعة عن عزم الإدارة الأمريكية استصدار تشريع جديد من الكونجرس يقضي بتحويل جزء من الأموال العراقية المودعة في المصارف الأمريكية إلى وزارة الخزانة للإنفاق على حرب العراق. On the other hand, informed sources revealed the determination of the U.S. administration issued new legislation from Congress to transfer part of Iraqi funds deposited in U.S. banks to the Treasury Department to be spent on the Iraq war.
وأشارت المصادر إلى عزم بوش استغلال الصادرات النفطية العراقية وعائداتها، للإنفاق على الوجود العسكري الأمريكي في العراق وأفغانستان، ومزاحمة النفوذ "الروسي- الإيراني" المتنامي في الجمهوريات السوفيتية السابقة، وفى شبه القارة الهندية. The sources pointed out Bush's determination exploit Iraqi oil exports and revenues, for the maintenance of the U.S. military presence in Iraq and Afghanistan, competition of influence "Russian - Iranian" growing in the former Soviet republics, in the Indian subcontinent. فضلاً عن دعم الدولار الأمريكي مقابل بقية العملات في ظل النكسة التي يمر بها. As well as to support the U.S. dollar versus other currencies in light of the setback is going through.
ووصف خبراء الاقتصاد هذه الخطوة الأمريكية بالخطيرة, باعتبار أن الأموال العراقية مودعة بالكامل في البنك الاحتياطي الأمريكي بنيويورك, معربين عن خشيتهم من إيقاف تمويل الكونجرس للقوات الأمريكية والعراقية، والاعتماد على تمويل صادرات النفط العراقية, وبالتالي الدخول في تطبيق بنود الاتفاقية السياسية التي أبرمتها الإدارة الأمريكية، مع المالكي على المدى الطويل، وهى الاتفاقية التي وصفتها مصادر محايدة، بتقنين الاحتلال الأمريكي لبلاد الرافدين, وإعطائه بعدا استراتجيًا في المنطقة. The experts described the U.S. economy this serious step, considering that Iraqi funds deposited in the bank reserve fully American, New York, expressing their fear of Congress to stop funding for U.S. troops and Iraqi dependence on financing Iraq's oil exports, thus entering into the implementation of the Convention entered into by the political administration of America, With Maliki in the long run, which was described by impartial sources, codified the U.S. occupation of Mesopotamia, and give dimension strategies in the region.
Iraq seeks to establish a large bank transactions
BAGHDAD: Abdel Aziz announced Hassoun, Executive Director of the Association of Iraqi banks that own the banking sector in Iraq needs to activate its activity, especially at the level of his dealings and relations with banks outside Iraq, considering increasing the capital of Iraqi banks and mergers among themselves in a priority sector in the current phases And future.
وأشار حسون في تصريحاته لـ"الحياة" اللندنية إلى أنه تم خلال اجتماع الرابطة هذا الأسبوع مناقشة المصارف لأداء العمل المصرفي وسبل تطويره، وأبرز ما بُحث فيه فكرة تكوين تجمع مصرفي عراقي يكون قادراً على تولي التعاملات المصرفية الكبيرة وإدارتها، والسعي إلى تعزيز مسارها وفق المعايير الدولية. He told Hassoun in his "life" of London that it was during the ASEAN meeting this week to discuss the banks to perform banking work and ways of development, and most research in which the idea of combining an Iraqi bank to be able to pay large banking transactions and management, seeking to strengthen its course according to international standards .
ورأى حسون أن حجم موجودات المصارف العراقية الخاصة الإجمالية لا يزال ضئيلاً، مقارنة بموجودات أي مصرف عربي أو أجنبي، إذ تبلغ 3079.4 مليار دينار عراقي أي ما يعادل 2.5 مليار دولار. Hassoun felt that the size of the assets of private Iraqi banks total is still small, compared to assets of any Arab or foreign bank, at 3079.4 billion Iraqi dinars, or about 2.5 billion dollars.
Operations Baghdad: armed groups threatened publications are distributed to citizens in the capital
BAGHDAD - Iraq votes
03 / 05 / 2008 at 16:59:26
Said spokesman command of Baghdad, Saturday, the totals for (terrorist) and the armed groups outside the law by distributing leaflets containing threats and intimidation of workers in the security agencies and state officials in the capital Baghdad.
The Major General Qasim Atta in a telephone conversation with the Independent News Agency (Voices of Iraq) that "the leadership of Baghdad received intelligence information is the fact that aggregates (terrorist) and armed groups distributed leaflets Saturday carried a threat and warning to workers in the security agencies and state officials in some parts of the capital Baghdad."
He added: "Download leaflet signed group calling itself the Committee for just retribution."
He pointed out that Iraqi security forces worked to ascertain the authenticity of information through access to copies of the publications distributed by the threat of armed groups outside the law.
He called on citizens Atta indifference to such threats and cooperate with security forces present in all Circuit responsibility for dealing with citizen's security from tampering.
Atta did not specify the areas where you found the Iraqi security forces on the publications, saying only that "the presence of armed law outlaws the Iraqi government now take military action in their areas" without reference to more details.
http://www.aswataliraq.info/look/art...=1&NrSection=1
New obstacles facing the Iraqi-American Convention long-term
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5-03-08
New obstacles facing the Iraqi-American Convention long-term
BAGHDAD / long
Convention facing the security sought by both Iraq and the United States to sign this summer, significant obstacles may delay or hinder the process of signing, due to the insistence of the U.S. side to include items that violate the Convention Iraq's sovereignty, as pointed out by deputies in the parliament. Informed sources highlighted the three American demands are most sensitive parliamentary blocs in Baghdad, which is to retain the right to detain Iraqi citizens an indefinite period, the judicial immunity given to contractors with American forces, the right of these forces for the attacks, without coordination with the Iraqi side.
Sources close to the Prime Minister that he faces considerable pressure from some political parties claim him to disclose details of consultations with the American side, and plans on Iraq, but Washington strongly opposes it. The sources said that al-Maliki tried to enter this agreement in the deal, with most of the parliamentary blocs Opposition by interviewing him for return to the government, but his efforts were fruitless, because Nye blocks above herself from participating in talks on the said Convention, which is popularly accepted.
http://translate.google.com/translat...-US:unofficial
The extent to which continue to decline in the bourse?
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5-03-08
The extent to which continue to decline in the bourse?
Hossam Osama
Those who celebrate the stock market what they call completed when foreign investors started acquiring company's shares at prices without even nominal Resurrection, no losses (bleeding heart), with tundra newspapers worldwide including such deals are a waste of more than a dreadful country wealth Racing mortgage brokers and speculators To the interests of lenders who are watching the game from outside the border and conducting the sale and purchase transactions which absorbs Rahik finally nearing the expense of deterioration if not reached breaking point, and we continue to appeal to those concerned from both houses of ministers and deputies through the competent organs of regulatory Office of Financial Supervision Authority and integrity, leading to the Public Prosecution Service Necessities to be aware that playing devious, to extort the general investors for the benefit of local and foreign speculation.
The simplest is known world must submit to the failure of the task is to resign hopes that (evade cogently) of the responsibilities of curving performance, but the greed of market-based desperate, they not only limit now than Genoa, to underscore the need to adopt the principle of accountability according to the context (of Where did you get this), when it became their dubious source, obstinate attempts concealment.
Under such atmosphere that appeared to be encouraged them to continue their performance by rejecting it and run with him all the fundamentals of trading in stock exchanges worldwide, moved to extend the labour market approach, but dissenting cross with proper mechanisms adopted since the first World enticements exchanges several centuries ago, their determination to contest (the game) New elections, stems from the fact that voters exclusively to non-brokers when they adopted (in violation of all rules, a public body to the market without the investors who supposedly - as the owners of wealth that is deliberating the market alone - to be the mainstay market management or what is known as the Council of Governors of the stock market.
From this point, regardless of the excessive preoccupation with stakeholders forms they consider more important and a priority, It is now possible for any of the relevant resolution and charged secretariat responsibility, to pay attention a little seriousness and concern for the economic arena terrible performance, and link the flagrant abuse transactions and circulation of securities, and the right Deterioration - but insist that the collapse - up to a tragic figures raised Tnndr concerned bourse in neighbouring countries, all of the shares actually concerned circulation. With live Poniran bourse us one of the hardest stages of backwardness and manipulating dubious mandates.
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Shell Oil in talks to export Iraqi gas via Turkey.
Saturday, May 3, 2008
Royal Dutch Shell Plc is in talks with Türkiye Petrolleri AO, Turkey's state oil company, to build a pipeline to export Iraqi natural gas via Turkey. Shell and Türkiye Petrolleri are working on a memorandum of understanding on the project, to be run by the Turkish Energy Ministry, said Canan Ediboğlu, Shell's country chairwoman in Turkey. She said the agreement may be completed “very soon.”Turkey has said Iraqi gas could be pumped to European Union states through the planned 5 billion euro ($7.7 billion) Nabucco gas pipeline, which aims to reduce Europe's reliance on Russian gas by taking fuel from Central Asia, as well as possibly Iran and Egypt.Talks with Türkiye Petrolleri included construction of the pipeline and “looking at the upstream gas opportunities of Iraq,” Ediboğlu said. She didn't say where the pipeline would be laid in Turkey.Separately, Shell is continuing talks with Italy's Eni SpA and Turkey's Çalık Group on joining their $2 billion crude-oil pipeline from the Black Sea town of Samsun to the Mediterranean port of Ceyhan, Ediboğlu said.Eni and Çalık began talks on a shareholder agreement for the oil pipeline in 2006. Shell is still working on a feasibility study and looks “positively” on joining the project, Ediboğlu said.The pipeline could carry oil from Kazakhstan to the Mediterranean Sea, she said. Shell is a partner in the Kashagan oil field in Kazakhstan, in which Eni also holds a stake.
Ayla Jean Yackley
ISTANBUL – Bloomberg
CIBC World Markets analysts recently predicted that oil would sell for US$200 a barrel in 2012, as oil supplies grow ever tighter relative to demand. That would imply a continued global boom for the next four years, which would bring inflation, perhaps validating CIBC's prophesy as the dollar went the way of the 1923 Reichsmark.
All the same, that's not the way I'd bet; I think $50 is more likely. We are probably not quite at the end of this unprecedented oil and commodities bubble, but we are surely getting close.
To take the hyperinflationary possibility first. The St Louis Federal Reserve has since 1991 calculated a monetary statistic "money of zero maturity", which is M2 minus small time deposits plus institutional money market funds. In the absence of M3 statistics, discontinued by the Federal Reserve in March 2006, St Louis' MZM is a decent measure of broad money supply. MZM increased by a moderate 9.18% in 2007. However in the three months to April 14 2008, it has increased at an astounding annual rate of 30.3%, reflecting the massively expansionary monetary policy the Fed has followed since January.
If the Fed keeps up that rate of growth for the next four or so years, then, since prices follow monetary growth, by the end of 2012 prices would have risen by about 236%. In other words, to have the same real price as today's $115, oil would sell for $386 per barrel. A price of $200 per barrel would then represent a moderate oil price, reflecting a decline in real oil prices to little more than half today's level in real terms. Needless to say, if the US dollar had been alone in suffering this level of inflation, the euro would in 2012 be selling at over $5 and the yen would be running at $1 = 28 yen.
So how likely is this hyperinflationary scenario, and how likely is $200 oil without it?
The hyperinflationary scenario depends on the Fed continuing to increase money supply by around 31% per annum for the next four years. That's not quite impossible. Consider a world in which Federal Reserve Board chairman Ben Bernanke has little or no fear of inflation, but where house prices are an essential political measure of the Fed's success. In that case, to prevent house prices from catastrophic decline, Bernanke might continue to indulge in stimulatory policies, lowering interest rates as far as practicable towards zero, buying essentially unlimited quantities of dodgy housing debt from the banking system and assisting in bailouts of any banks that got into trouble.
A sloppy populist administration, were such to be elected in November, might ally with the Fed in devising a series of ever-more expansionary "stimulus packages" while prevailing on the Fed to support the Treasury bond market to help it fund its trillion dollar deficits. It might assist the process by erecting trade barriers against Third World imports, which would be seen as taking away jobs; such barriers would restore few jobs but might well produce huge increases in import prices. The rest of the world would doubtless go into recession as the US withdrew partially from the world market, so oil and other commodity prices would decline in real terms, but the dollar prices of non-oil imports could be rising so rapidly that the overall price level continued to inflate.
Sound horribly plausible? I'm rather afraid it is. The 2008 campaign has shown that the quality of economic thought among both the US primary electorate and the political class has deteriorated markedly in the past decade, so that there are few barriers today to rampant protectionism, rising inflation and ever-increasing government spending. There are counterproductive policies of the 1930s through the 1970s that would probably be avoided today, but not many of them.
There are thus only two factors that may save us from 30% inflation and $200 oil by 2012: a revival of good sense by the Fed and the politicians (very unlikely) or a full-scale revolt by dealers in the US Treasury bond market. The latter is not at all improbable; the government's borrowing is increasing substantially, with the current year's deficit heading towards $500 billion even before recession has properly taken hold, so bond markets are going to be asked to absorb a LOT of debt. At some point, even with the Bureau of Labor Statistics doing everything it can to massage inflation figures, bondholders and dealers will come to realize that they are being asked to buy Treasury bonds that yield less than zero in real terms.
A good healthy "buyers' strike" would then push up Treasury bond yields, probably forcing Bernanke's resignation (as it did the resignation of his predecessor G William Miller in 1979) and force a tighter monetary and fiscal policy on the US powers that be. It is a consummation devoutly to be wished; one's only doubt is that inflation has been rising steadily now for several years and yet Treasury bond yields remain stubbornly around their levels of 2004. Continued heavy buying by the less than stellar intellects of Middle Eastern and Asian cash-rich central banks could prevent a catharsis that all should desire.
Assuming that we get a buyers' strike in the Treasury bond market or (less likely) a revival of good sense in the Fed and Treasury, inflation is unlikely to soar to over 30% and thus oil is unlikely to trade around $200. In such an event, interest rates would be increased to begin the lengthy task of wringing inflationary forces out of the system. That would reduce the flood of liquidity in international markets, which would have two effects. First, it would reduce the rate of world growth, affecting particularly those countries such as India and Latin America whose fiscal (India) or balance of payments (most of Latin America) position was already somewhat weak.
Second, it would greatly reduce the loan capital available to international speculators, which have been an increasingly important factor in rising oil, gold and commodity prices in the last year. There are reports that hedge funds have already been compelled to reduce their leverage to a maximum of five times capital. I would tend to be skeptical of such reports, but clearly if interest rates were forced upwards the arithmetic both for hedge funds and for those who lend to them would change radically.
That scenario, of slowing world growth, particularly in markets with heavy real estate exposure (such as the US, Britain, Spain and Ireland) or in over-leveraged emerging markets, would be devastating for commodities markets. Speculative demand would quickly be removed from them, partly because of the bankruptcy of the speculators, and real demand would also be somewhat reduced. Commodity prices would fall towards equilibrium levels.
In the case of soft commodities, the fall towards historic levels would be rapid. Production is already being ramped up because of current high prices, so it is likely that in 12 months time there will be a glut of most crops. The ethanol from corn politically inspired disaster is registering even in the minds of US politicians, so even if the bizarre and counterproductive US subsidies for that process are not repealed, they will not be extended. World food consumption is increasing only relatively slowly, with some change in mix as wealthier Indians and Chinese eat more meat, so with a further slowing in consumption growth it will take very little time for production to catch up.
For gold and silver, the trend depends on the outlook for global inflation. If low interest rates are allowed to persist until inflation has got a real grip, it is likely that inflationary expectations will worsen, driving up gold and silver prices further.
Even when interest rates are raised, confidence in government firmness against inflation will probably be slow to revive, so speculators and investors may continue to hold gold and silver as a hedge - after all, with rising interest rates stock and bond prices will be declining, so there won't be an obvious alternative home for their money.
Thus the equivalent 2012 prediction to $200 oil, $2,000 gold, may very well be possible, although it is likely that such a price will be seen only early in the year, with the overall trend by then, perhaps two years into the fight against inflation, being firmly downwards.
Finally, the oil price itself. Two factors have been driving the rise in oil prices. One, rising demand, has been discussed in relation to food and can be expected to follow the same pattern. As the world economy slows, demand will increase more slowly, while the speculators will be squeezed out of the market by higher interest rates. Nevertheless, absent changes on the supply side, one might still postulate 2012's oil prices to be close to current levels.
It is on the supply side that a global recession makes the most difference. Here the continually rising price of oil over the past five years has awakened primitive nationalism in oil-producing countries, causing them to maltreat foreign oil companies and attempt to squeeze as much government revenue as possible out of the oil goose that is laying so many golden eggs.
New oil discoveries are becoming more and more difficult because in only a few countries are oil companies with modern exploration techniques given the right incentives to search aggressively for oil. Even Russia, the white hope for greater oil production five years ago, has seen its production begin to decline in 2008, while Mexico (closed oil sector), Venezuela (socialist fruitcake) and Nigeria (kleptomaniac government that taxes oil revenues at 98%) have all seen oil production decline by more than 10% since 2006.
There are a few counterexamples: Iraq’s oil reserves have doubled since that country was reopened to international exploration in 2003, while Brazil, whose Petrobras enters freely into joint venture agreements with Big Oil, has made major new oil discoveries recently. However, while oil prices continue to rise the search for new oil sources is likely to be restricted to only a limited number of geologically promising areas.
Once oil demand starts to tail off and interest rates rise, the current situation will reverse. Badly run countries such as Venezuela and Nigeria will quickly run out of money. Current policy will then be reversed, and the major oil companies will once again be allowed to explore and produce on an efficient and profitable basis.
Oil prices will then decline more rapidly, and wealthier and better-run oil producers such as Russia and Saudi Arabia will also find themselves in difficulty and become less recalcitrant in international politics and less resistant to help from the multinational oil companies.
Slackening oil demand will also give time for new supply to come on stream and for environmental objections to massive supply from tar sands and oil shale to be overcome. The result, as in 1981-86 will be a decline in oil prices, gradual at first but probably accelerating until a floor is reached at which new exploration becomes pointless and the oil price is once again as far below its long term marginal cost as it is today above it.
By 2012, that process will only have gone part way; nevertheless an oil price of $50 before the end of that year seems probable. Oil prices may well be on a long-term upward trend, as supplies become restricted to geologically and politically more difficult areas, but $50 per barrel is already (absent hyperinflation) well above the real oil price in 1986-2002 and should easily prove sufficient to reward both efficient exploration and more intensive production from the tar sands of Orinoco and Athabasca.
Report: Bush administration holds the funds to cover Iraq war
الم. Moving towards the U.S. administration seek legislation in Congress, the Department needed to convert part of Iraqi funds deposited in U.S. banks, in order to face the burdens of the U.S. Treasury Department for expenses in Iraq and Washington. The economic sources in Washington said that the first steps are preparation, Is to establish a free economic system, comes on the ruins oriented economy taken by Iraq since the contracts, which paves the way for American hegemony on the economic sectors in Iraq, particularly oil wealth, and mortgage interests and America's economic agenda and thus exploit Iraqi oil exports and revenues, for the maintenance of the military presence American region in the first place, as well as support for the U.S. dollar versus the rest of hard currency in light of the setback is going through. يأتى ءاً كبيريه. This comes in response to the many voices were raised in recent times, within the U.S. Congress, calling Iraq the need to pay a substantial part of the expenses of U.S. forces stationed in it, and build option Chairman of the Armed Forces Committee in Congress, Senator Carl Levin, who is from the majority party, which called for charging A large part of Iraq's fuel bills U.S. forces operating in it. ويرى الراب. Observers believe that this step will serve as a new series of sanctions applied to Iraq since the early nineties, although they cover a new model to be marketed, is to liberate the Iraqi economy, and preparing to contribute to the costs of the war waged by the United States of America against terrorism. الوم. It is known in this context that the UN Security Council authorized the Washington, under the terms of Chapter VII that exerts its hands on Iraq's oil revenues controlled since 1996, the oil for food programme, which was then deposited in Swiss banks, American and European, without returning to the former Baath regime, claiming that Washington and compensate Iraq's neighbors for losses the Iraqi army to invade the territory of Kuwait in 1990, and persistent overdue debts Iraq until today. إلى ذلك أبدى لعيورك. It was officials in Baghdad and feel of this, which they branded as very serious, considering that Iraqi funds deposited in full in the U.S. Federal Reserve Bank of New York. ات الذلك They also expressed fear for Congress to stop funding the U.S. and Iraqi forces, and reliance on financing Iraq's oil exports in that
http://64.233.179.104/translate_c?hl...m/economy.html
The new investment climate in Iraq and the necessity not an option
د. D. سلام سميسم Peace Smism
عندما حدث التغيير السياسي العسكري الشامل في العراق في 4/9/ 2003 كان من اوائل اللبنات الاساسية التي وضعت (وكانت قد رسمت منضمن السيناريوهات المعدة سلفا)، فكان موضوع انتقال الاقتصاد العراقي ونقله من حالة الفوضى الايديولوجي الى الوضع التصحيحي الملائم الذي يكفل اطارا فكريا ملائما يواكب الانتقالة المرجوة. Political change occurred when the military destruction in Iraq on 4 / 9 / 2003 was one of the first building blocks that have been developed (and had drawn up scenarios acceding prepared), was the subject of the Iraqi economy transition and transfer of the chaos to the ideological status of affirmative appropriate intellectual framework which ensures appropriate Copes Transitional desired.
ولكن وقبل كل شيء ماذا يرجى للاقتصاد العراقي؟؟ But above all, what of the Iraqi economy, please?? ان الانتقالة المذكورة تفترض تغييرا و اعدادا للكثير من الاليات التي اعتاد الاقتصاد العراقي النفاذ منها و الولوج الى العالم من خلالها ، وهذا ليس بالامر الهين و لاالبسيط فهو - ومن وجهة نظري المتواضعة- اخطر من التغيير العسكري بل و اشد ضراوة من التغيير السياسي حتى، فالصياغة الفكرية لهذه الاليات تحتم بالضرورة خلق مناخات فكرية مازلنا و حتى بعد مرور خمس سنوات على التغيير نفتقد لها على معظم مستويات الجهات العاملة في هذا المجال اكاديميا و تطبيقيا و تشريعيا وان تفاوتت درجة القصور هذه !! The transition mentioned assumes change and numbers of many mechanisms that have gotten used to force the Iraqi economy and their access to the world through them, and this is not easy and it is for Aabusit - From my perspective modest - more dangerous than change the military and even tougher than even political change, wording Intellectual Such mechanisms necessitating the creation of climates and even intellectual still five years after the change has to miss most levels of those working in the area academically and application, although the degree of legislative shortcomings of this!!
ولذا فعندما يتنادى المعنييون من اقتصاديين و غيرهم للحديث عن موضوعة الاستثمار و قانون الاستثمار لفترات فانهم اذ ينطلقون من موقف تجاه عملية التغيير هذه: هل هي حتمية ام لا؟؟ Therefore, when those concerned Itnadi of economists and others to talk about the theme of investment and investment law to periods since they started from a stand against this process of change: Is it inevitable or not?? هل هي واجبة في مثل هذه المرحلة ام هي مبكرة او على العكس هي متأخرة؟؟ Is it his duty in such an early stage, or are they or are late on the contrary??
وقد يكون من المهم القول انها (أي عملية التغيير) هي ضرورة حتمية للاقتصاد العراقي و هي الجدوى الحقيقية و الفعلية لعملية التغيير الكلية و الا فلن يكون للتغيير نفسه اية قيمة تذكر سوى اعادة لصياغة الواجهة السياسية ليس الا!! It may be important to say that it (any change process) is a necessity of the Iraqi economy and is a real and actual feasibility of the change process, the College will not be any change in the same little value only to re-formulate the political stage is only!!
ومن ثم فان التحرك وفي مجال الاستثمار(لانه موضوعة المقال الحالي) ينبغي و يحتم الانطلاق نحو الداخل و متغيراته بكل تفاصيل هذا الداخل : تشريعيا وفنيا و مؤسساتيا و... Hence, the move in the area of investment (because the current theme of the article) should and must move towards the interior and changing all the details of this home: a legislative and technically and institutionally and ...
وبالتالي فان المراقب للحدث الاقتصادي العراقي وتحديدا في مجال الاستثمار فانه يجد ان التصاعد لم يسير بوتيرة واحدة بطيئا مرة وئيدا و تراه على العكس من ذلك سريعا في احيان اخرى ، وما هذاالتفاوت الا في ظل تفاوت الضغط السياسي الداخلي و الخارجي على حد سواء. Thus, the observer for the event Iraqi economic and specifically in the area of investment, it did find that the escalating pace is slow and one-time supports and sees the contrary, it quickly at other times, and Hmaaltfawt only under varying domestic political pressure and external alike. الا ان ذلك لايتناغم مع شدة الحاجة الى مثل هذا القانون و متطلباته التطبيقية وعوامل نجاحه مما يجعل عيون الاطراف الدولية كلها تتجه بترقب وخوف "في احيان كثيرة" الى سير العملية السياسية و التشريعية وآليات العمل في العراق الجديد. But that Eitne_m with the severity of the need for such a law and requirements of Applied and success factors which makes the eyes of the international parties are moving with anticipation and fear "often" to the process of political and legislative mechanisms work in the new Iraq. ولعله ليس جديدا اذا ما ذكرنا ان حاجة العراق و الاستثمار فيه تحديدا الى مؤسسات فاعلة داعمة و بصراحة اكبر الى دولة مؤسسات تكون وفق ضوابط الاقتصاد المنطقي الحر ومجريات التغيير الديمقراطي الجديد العامل الاكثر موضوعية في انتشال الاقتصاد العراقي من محنته الخطرة و افات الركود و التهميش و الهدر اللاعقلاني للموارد الاقتصادية الوطنية، وبالتالي فان المراقب المتتبع يظل يتابع مجريات الحدث السياسي قبل أي حدث اخر لانه يدرك اولا ان لا ضمان لاي تشريع مؤسساتي او بتعبير اخر انه لن يكون هنالك أي بناء مؤسساتي مالم يكفل المناخ السياسي اللازم و الكافي في ان واحد. Perhaps nothing new if we said that Iraq needed investment and specifically to the institutions supporting actor and more explicitly state institutions to be in accordance with logical controls the economy and free events for Democratic Change, the new group more objective in lifting the Iraqi economy from its ordeal and dangerous pests stagnation and marginalization and waste Irrational for the national economic resources and, therefore, remains observer Orbiter follow the political course of the event before any other event because he realizes that the first legislation does not guarantee any institutional or other words that it would not be there any financial institution-building to ensure the political climate necessary and sufficient at the same time.
اقول ذلك و انا اتتبع اخبار لقاءات صانعي القرار العراقيين مع الاطراف الدولية محاولين جذب الاستثمارات والمستثمرين و ذلك امر مهم فعلا ولكنه غير كاف، ومثلما درج انصار الاقتصاد الرياضي القول انه شرط ضروري ولكنه غير كاف، فبدون دولة من المؤسسات لن نرى جهة مستثمرة خاصة ايا كانت هويتها تقدم على الاستثمار في العراق . I say this track news interviews with Iraqi decision-makers of international parties trying to attract investments and investors, this is really important but not sufficient, as traditionally supporters of sports economics say that it is a necessary but not sufficient, without state institutions will not see the point of investing in particular whatever Identity submit to invest in Iraq. كما انني اؤكد ايضا ومن هذا المنبر ايضا اننا و بدون نظام صيرفي متطور اداء و فكرا وتقننية و تطلعا نحو اهداف اكثر جدية و واقعية لن يمكن لنا ان نباشر بدولة مؤسسات لاقتصاد يضع الاستثمار احدى اهم اولوياته الاقتصادية الان و مستقبلا. I also assure From this rostrum, we are also without a money-changer system performance and sophisticated thought and codifies and looking towards the goals of a more serious and realistic that we can not get state institutions to develop the economy of investment one of the most important economic priorities now and in the future.
ان العراق يحتاج الى نهضة ترقى الى مستوى الثورة في السبل المصرفية و من ثم ففي مطالبنا الكثيرة للنهوض بالاقصاد العراقي والانفتاح على العالم و هو امر حتمي في حالنا هذه فان الامر الان يتطلب تطمينا لكل الاطراف لانسيابية حركة رؤوس الاموال و من ثم السلاسة المالية و النقدية لعملية الاستثمار، التي يجب ان تكفل بنظم من الرعاية القانونية وسلسلة التشريعات و القوانين الداعمة. Iraq needs to live up to the renaissance of the revolution in the way banking and then in our demands for the advancement of many Iraqi Balaksad and openness to the world and is inevitable in such situations it now requires all parties to the silt flow of capital movements and then smooth financial and monetary process Investment, which must ensure that the legal systems of care and a series of laws and legislation supporting.
ان مشروع مارشال الجديد و الذي داعب مخيلة الجميع وظهر بصورعدة من العهد الدولي و مؤتمرات المانحين و غيرها لايمكن لها النجاح و الداخل العراقي يرزح تحت نير هذا التخلف في الاداء المؤسساتي و التطلع الفكري. The Marshall Plan and the new dimensions of the imagination of everyone who appeared Besoraadh of the International Covenant and other donor conferences and can not succeed, the Iraqi interior living under the yoke of underdevelopment in institutional performance and intellectual aspiration.
سادتي امامنا الكثير مما يجب ان نفعله وان ما تم فعله هو اقل من القليل و تحديدا في موضوعة الاستثمار, ولذا فان شبكة الاحتياجات الاستثمارية هي كل لايتجزأ ولايمكن للاقتصاد العراقي ان ينهض دونها. Gentlemen have a lot to do and what has been done is less than a few, specifically in the theme of investment, and therefore the investment needs are all integral part of the economy and can play that Iraqi below.
وذلك حديث طويل يجر الى عوامل نخرالواقع العراقي و اولها الاقتصاد و للاشارة فان المحاصصة وماجرته من الهدر الاقتصادي لرأس المال الفكري العراقي و ماصاحب ذلك من الفساد الذي عزز خطى المحاصصة في ضرب القاعدة الفكرية العراقية بصورة عنيفة ادى الى اضاعة اهم الفرص الاستثمارية التي يحتلها رأس المال البشري ، مما ادى الى سيادة انماط رديئة في منافذ الحياة الاقتصادية معززة هذا الوجود الطارىء و غير المنطقي وغير المشروع بسلسلة من ممارسات الفساد و الهدر التي ابتلعت و مازالت تبتلع المليارات من الاموال العراقية و التي هي من حق كل فرد عراقي لانها و بكل بساطة حقه الذي كفله له الدستور الجديد في ضوء العراق الجديد. That long been talk to factors Nkrallowaka the Iraqi economy, and the first indication of what happened and the redistribution of economic waste of intellectual capital and Iraqi Masahab from the corruption that has strengthened the pace of redistribution to strike at Iraqi base of intellectual violent led to miss the most important investment opportunities, which is occupied by human capital , Which led to the rule patterns of poor outlets in the economic life of this presence enhanced emergency and illogical and illegal practices of a series of corruption and waste, which swallowed and still swallow billions of Iraqi funds, which are the right of every Iraqi individual, because it is simply the right guaranteed by A new constitution in the light of the new Iraq.
و الحديث ذو شجون و له بقية باذن الله And emotional talk with him and the rest of God
Zubaidi ... لية Confirms that in 2008 years "for reconstruction and upgrading by the Ministry of Finance
(صوت العراق) - 03-05-2008 (Voice of Iraq) - 03-05-2008
ارسل هذا الموضوع لصديق Send this subject to a Friend
برحيم Name of God the Merciful
االية The Ministry of Finance
داد Baghdad
(( الز )) ((Zubaidi ... confirms that in 2008 years "for reconstruction and upgrading by the Ministry of Finance))
فذ . HE held Finance Minister Baqir Jabr Al-Zubaidi an "expanded" with the undersecretary of the ministry, advisers and general managers are devoted to discussing the reality of reconstruction and implementation of projects of the ministry services and follow-up implementation process.
The Minister is required at this stage focus on the process of upgrading by banks and the introduction of banking regulations in the world, including its position to perform its functions in accordance with sophisticated ways to provide better services for citizens and those collaborating with them.
دريل .. Mr. Minister, stressed his eagerness to take higher circles ministry same approach in other reconstruction and development capabilities, especially the "circles the General Authority for taxes as one of the sources indicating the state's resources" to the importance of creating a culture of tax to the citizens, companies and openness by facilitating the task of collecting taxes and issuing pamphlets, instructions and coordination with And various media in order to open new channels for fruitful cooperation and reviewed Mr. Undersecretary stages of completion and reconstruction of the ministry's building, which suffered terrorist incident a year ago and efforts for reconstruction and rehabilitation process ..
ء المراج . The Minister pointed out the importance of finding a new building for retirement national body in order to provide convenience for retirees during the audit in addition to the adoption of advanced versions of retirees in completing transactions and creating a mechanism to facilitate review and receive pensions in coordination with the Rafidain Bank and Rasheed.
أكد . The Minister for Messrs. general managers in the ministry to follow closely the importance of the work of their constituencies, notably "ensure the safety requirements specific to the fire and eventually checked periodically in order to combat any fire or electrical contact may be subjected their constituencies.
وأش . He praised the efforts of His Excellency the Minister of Public Authority for Martina to develop and modernize their performance especially the "follow-up field to the theme of the implementation of paragraph 18 of the budget and special porous border in the Kurdistan region and continued cooperation between the customs services in the province in addition to the rehabilitation of reagents at Baghdad Airport.
لىة . Beyond reviewed Mr. General Manager of banking services company's activities in the establishment of a modern building of the company in addition to contracting to purchase cars vulnerable to transfer currency.
مشconclusion of the meeting reviewed the general managers of Messrs. Rafidain and Rasheed banks and the Iraqi Trade stages of completion of the draft development banks mentioned in the adoption of the new electronic destruction and smart card which will be announced when completed, will ensure that the citizen easier to deal with banks according to modern mechanisms accredited banks in the world were also discussed opening branches New banks in Baghdad and other governorates, in addition to discussing a new branch of the Iraqi Trade Bank in London.
هاء . This meeting was attended by Mr. Ahmed Saadawi State Counsellor of the Prime Minister.
http://64.233.179.104/translate_c?hl...p%3Fid%3D16963
I don't believe it..I just know there's finally talk in one direction or another...it's good for the investment...lol
U.N. 'convinced' Iraq is improving
http://www.upi.com/International_Sec...mproving/4202/
Published: April 29, 2008 at 10:22 PM
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UNITED NATIONS, April 29 (UPI) -- Top U.N. political chief B. Lynn Pascoe told the Security Council Baghdad expressed its gratitude to the world body but noted more work could be done.
Pascoe returned from a visit to Iraq to brief the Security Council, saying he was "absolutely convinced that the United Nations was doing its best" to guide Iraq through difficult times.
The challenges facing Iraqi national reconciliation and reconstruction, Pascoe said, extend beyond the borders of Iraq and require sustained international support to overcome.
The Iraqi government needs to tackle the fundamental issue of reaching a compromise power-sharing arrangement and set the path to determine the federal structure of Iraq in order to succeed. Pascoe praised Iraqi leaders for making progress on voter registration drives scheduled for June and provincial elections in October.
U.S. Ambassador to the United Nations Zalmay Khalilzad stressed that while progress in Iraq was uneven, the country made substantial improvements.
Khalilzad, the former U.S. ambassador to Iraq, noted civilian deaths fell 72 percent from their July 2007 levels, adding general declines were seen across the board.
The Iraqi dinar was strong and interest rates remained low, though Khalilzad said more improvements could be made to integrate economically with the region.
Iraq's Ambassador to the United Nations Hamid al-Bayati echoed the sentiments of his U.S. counterpart, adding the Iraqi national budget was $48 billion. Bayati noted those funds would go to general and financial reconstruction of Iraq, as well as aid for Iraqi refugees.
Addressing the looming issue of government corruption, Bayati said the government passed a corruption measure in March
Not Seeing A 1:1 RV...post from anthr room
Sources
http://internationaltrade.suite101.c..._oil_countries
http://finance.yahoo.com/currency/co...submit=Convert
Top Oil Exporters (Million Barrels Per Day)
Saudi Arabia ( 8.73)
Norway (6.67)
Russia (2.91)
Iran (2.55)
Venezuela (2.36)
United Arab Emirates (2.33)
Kuwait ( 2.20)
Nigeria (2.19)
Mexico (1.80)
Algeria (1.68)
Top Oil Reserves (Billion Barels)
Saudi Arabia ( 262)
Canada (179)
Iran (126)
Iraq ( 115)
Kuwait ( 102)
United Arab Emirates (98)
Venezuela (77)
Russia (60)
Libya (39)
Nigeria (35)
Exchange Rate (X:1USD)
Saudi Arabia 3.75
Canada 1.02
Iran 8985.00
Iraq 1202.80
Kuwait 0.26
United Arab Emirates ???
Venezuela 2147.50
Russia 23.77
Libya ???
Nigeria 118.50
HCL soon ready
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Look at this from www.aksjeinfo.net
BAGHDAD - Iraq votes 01 / 05 / 2008 at 22:40:02 VOI - Autotranslate
A number of specialists in the matter of oil and government officials Thursday that the agreement between the political blocs particularly among the Kurdistan Regional Government and the central government will contribute to the adoption of a new draft law on oil and gas.
A spokesman for the Iraqi government to Skinner, told the Independent News Agency (Voices of Iraq), that the version sent to the House bill from the oil and gas "are the same as those agreed upon in February of the year (2007)."
Skinner said that that version "has not been any changes," noting that the parliament "can be discussed or being upon any adjustments that might see members of Parliament."
For his part, member of the Committee on the oil and gas in the Chamber of Deputies Khalifa Jaber Jaber that "there is a draft of the law of oil and gas from the Cabinet sent to parliament early this week."
He added Jaber told (Voices of Iraq) that that version "is the same as those agreed by the Council of Ministers, in February (2007), and intercepted by the Kurdistan Regional Government then."
He expected that the member of parliament passes a bill of oil and gas "stage of enticements, is the first stage between the central government (in Baghdad) and the Kurdistan Regional Government, and the other would be between supporters and opponents of the law" inside the House of Representatives.
He Jaber on the expectation that "contribute to the agreement between the Kurdistan Regional Government and the central government in Baghdad to speed up discussion and legislation of this law."
The delayed approval of the House bill Iraqi oil and gas, which was approved by the Government of Nouri al-Maliki and forwarded to the parliament in July last year, due to strong opposition of several parliamentary and political influence of the law.
She says that the strong opposition that the project gives "concessions" unprecedented for foreign investors to establish facilities and oil refineries, and allows investing for periods of up to (50) years, and he devotes controlled territories on wealth owned both the Iraqi people.
For its part, the Ministry of Oil said it expects a "political agreement" for the legislation of the law of oil and gas.
He said Assem Jihad, spokesman for the ministry, told (Voices of Iraq) that the economic committee in the cabinet "is responsible for the amendments," adding that the Oil Ministry "gave her (the project), is waiting for the political agreement" to approve the law.
He added: "The Oil Ministry with no change was in the interest of the Iraqi economy."
morning
posted by ADSTER.....important
Appears more and more like the US are holding back on Art VII. Pass the HCL Iraq and you'll get it lifted.
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Statement of Ruth Wedgwood
Edward B. Burling Professor of International Law and Diplomacy
The Paul H. Nitze School of Advanced International Studies
Johns Hopkins University
Before the House Committee on Foreign Affairs
Subcommittee on International Organizations, Human Rights, and Oversight
Hearing on “Status of Forces Agreements and UN Mandates: What Authorities
And Protections Do They Provide to U.S. Personnel?â€
February 28, 2008
I appreciate the invitation by the distinguished acting chairman of this Subcommittee to comment briefly on so-called “Status of Forces Agreements†– in particular, their nature and purposes.
The role of “status of forces agreements†is a matter of importance to all American service members and their families, as well as to political leaders interested in the posture and protection of American armed forces around the globe.
Recent headlines concerning events on the Japanese island of Okinawa highlight the importance of providing safeguards both to American forces stationed abroad and to the civilian populations with whom they come in contact. So, too, the decision by the United States to recognize Kosovo as a newly independent nation, separate from Serbia, may pose the question of how to assure appropriate status and legal protections to American service members who will be stationed in Kosovo as part of NATO peacekeeping forces.
As this hearing suggests, the topic of Status of Forces Agreements is equally of interest in the context of the Subcommittee’s ongoing examination of a document entitled a “Declaration of Principles†– which was announced on November 26, 2007, by President George W. Bush and Iraqi Prime Minister Nouri Kamel Al-Maliki.
The Declaration of Principles was not styled as a binding legal agreement. But it is a declaration of independence and aspiration, addressing issues of principle taken seriously by any free and democratic country.
The Declaration of Principles was apparently designed to articulate various aspirations concerning the future relationship between the United States and the independent Republic of Iraq. The document cites a broad range of matters, including issues that the United States and Iraq could not effectively address without the cooperation of many other countries, such as enhancing the position of Iraq in regional and international organizations and helping Iraq to obtain debt forgiveness.
But perhaps most importantly, the Declaration of Principles records Iraq’s assertion that it will soon return to “full sovereignty†– in particular, the independent status it enjoyed before Saddam Hussein chose to invade neighboring Kuwait and embroiled the world community in a difficult conflict. In the language of the Declaration, this would include “sovereignty … over its territories, waters and airspace, and its control over its forces and the administration of its affairs.â€
Status of Force Agreements and Sovereignty
A status of forces agreement is, in fact, a manifestation of the full sovereignty of the state on whose territory it applies. In particular, this kind of agreement serves to structure the relationship between a sovereign host (often called a “receiving†state) and one or more so-called “sending†states whose forces are permitted to visit or be stationed on foreign territory.
Status of forces agreements (sometimes called “SOFAsâ€) are widely used in modern international relations. Status of forces agreements govern the working relationship between states in the NATO alliance, as well as member states of the Partnership for Peace. Status of forces agreements govern and protect United Nations forces dispatched on peacekeeping and peace enforcement missions around the globe. Status of forces agreements also serve to structure bilateral relationships between states, where the two parties conclude there is a common interest in permitting the location of a military force, or a monitoring station, or a pre-positioning of supplies, or indeed, any other anticipated military function or presence. Even a joint military exercise may be governed by a status of forces agreement, where there is any presence on foreign territory.
In a United Nations peacekeeping operation, the status of forces will typically be based on a model U.N. status of forces agreement. However, in a Chapter 7 peace enforcement operation, the status of forces will not necessarily depend upon the consent of the state where they are deployed, since Chapter 7 resolutions have coercive power. For its part, the United States has attempted to assure that in United Nations mandates for peacekeeping and peace enforcement, there is an assurance that U.S. forces will not be subject to any assertion of international jurisdiction by a treaty court to which it has not assented.
Status of forces agreements can serve several purposes. In many respects, SOFA’s are the military equivalent of diplomatic or consular immunity agreements. Status of forces agreements may describe the method of entry and departure of international troops. They may describe the division of legal authority in regard to any alleged misconduct. Typically, primary criminal and civil jurisdiction over any act of misconduct committed in the course of the performance of “official acts†is reserved to the so-called sending state, while jurisdiction over private acts of misconduct can be assumed by the receiving state. There may, however, be instances in which the sending state is primarily or exclusively responsible for both spheres.
A SOFA agreement often has procedures for handling any commercial claims that arise from the presence or activities of international troops. The provision of buildings and grounds, the applicability or inapplicability of local taxes, customs issues, foreign exchange regulations, and the hiring of local workers, are also typical features. Alongside its substantive provisions, a SOFA will typically provide a standing structure for consultation and settlement of any disputes between the state parties. The relationship between the receiving and sending states may also be structured by a basing agreement concerning any approved installations, improvements, training activities, permissions for overflight, communications, and services.
For the further work of the Subcommittee, I should note the detailed examination of the history and structure of SOFA agreements available in a collaborative study organized by a German international law scholar, Dieter Fleck, entitled The Handbook of The Law of Visiting Forces (Cambridge University Press 2001). The issues that arise in overseas deployments are also addressed by John Woodliffe, a British scholar, in The Peacetime Use of Foreign Military Installations under Modern International Law (Martinus Nijhoff 1992). And finally, Professor Kent Caldor, my colleague at Johns Hopkins University, has recently finished an important work entitled Embattled Garrisons: Comparative Base Politics and American Globalism (Princeton University Press 2007).
The November 2007 Declaration of Principles and the Need for a Status of Forces Agreement
Finally, and perhaps most importantly, I should note that the setting in which the November 2007 Declaration of Principles was reached makes clear that the negotiation of a Status of Forces agreement with the independent government of Iraq cannot be delayed into the indefinite future.
In particular, the Declaration notes Iraq’s intention to “request to extend the mandate of the Multi-National Force-Iraq (MNF-I) under Chapter VII of the United Nations Charter for a final time.†(Emphasis added). This Iraqi request for extension of the mandate was indeed forthcoming, and was the prelude to the Security Council’s vote in Security Council Resolution 1790, on December 18, 2007, for a final extension of the multi-national force mandate, until December 31, 2008.
However, Iraq’s consent to this extension was carefully framed. The text of Security Council Resolution 1790 states in its operative language, at paragraph 1, that “the presence of the multinational force in Iraq is at the request of the Government of Iraq.â€
Resolution 1790 also declares, in its operative paragraph 2, that “the mandate for the multinational forces shall be reviewed at the request of the Government of Iraq or no later than 15 June 2008†(emphasis added) and that the Security Council “will terminate this mandate if requested by the Government of Iraq.â€
This undertaking by the Council means that, in principle, the availability of Chapter 7 authority for U.S. and allied operations in Iraq could be terminated at any time. Though the United States retains a veto on the Security Council, the Council’s solemn promise to terminate the multinational mandate at the request of Iraq could not be easily disregarded.
Thus, the issue of governance and legal authority for any United States forces in Iraq may become urgent and immediate. The negotiation of a SOFA agreement with the government of Iraq is thus not, in my judgment, a matter that can be delayed for any substantial length of time.
Thank you for your attention, and I welcome any questions.
hmmmm 25k rumors and moving of currency? Could this be finally winding up for a pop in value?
Central Bank denies cancellation of his 25 thousand dinars
PUKmedia حيدر بدرخان/ بغداد: PUKmedia 2008/05/01 11:47 PUKmedia Haider Badrakhan / BAGHDAD: PUKmedia 2008/05/01 11:47
ر. Iraqi Central Bank denied reports about the existence of faith when authorities cancelled the local currency from the category of 25 thousand dinars. وقال مصدر نة. An official source in the bank that published some of the media on its website on an intention to abolish the category of 25 thousand dinars in order to strengthen the local currency is incorrect and lacks credibility.
نه. He stressed that the recovery value of the dinar against the dollar over the last two years and that the process carried out by the Central Bank came to the proven success of the monetary policy pursued by the bank to raise the value of local currency, explaining that such news and promotion aimed at influencing the domestic economic situation and trying to confusion.
http://209.85.171.104/translate_c?hl...al/news424.htm
She says Arabs today that Royal Jordanian has succeeded last month in the completion of the tender new Iraqi currency transfers from London to the Central Bank of Iraq in Baghdad.
Iraq in the Arab press...4th para...moving currency? hmmmm
الشأن العراقي في الصحف الأردنية ليوم الأحد 27 نيسان Iraqi affair in Jordanian newspapers on Sunday April 27
اعداد و تقديم: حازم مبيضين – عمّان Preparation and Presentation: Hazem Qumush - Oman
تقول صحيفة العرب اليوم إن السلطات العراقية فرضت سيطرتها على آخر معاقل جيش المهدي في البصرة,ضمن عملية "صولة الفرسان". Arab newspaper says today that Iraqi authorities imposed control over the last strongholds of the Mahdi Army in Basra, as part of the "arrival Knights." وقال الجيش الأميركي في بيان إن القوات العراقية بدأت المرحلة الأخيرة من عملية "صولة الفرسان" الجمعة في حي حطين شمال مدينة البصرة معقل جيش المهدي، مضيفا أنه عندما دخل الجنود إلى المنطقة، رحب بهم السكان بحرارة وتعاونوا معهم. The U.S. army said in a statement that Iraqi forces began the final stage of the process of "arriving Knights" Hittin Friday in a suburb north of Basra, stronghold of the Mahdi Army, adding that when the soldiers entered the area, the population welcomed them warmly and cooperated with them.
وتنقل الرأي عن صلاح العبيدي المتحدث الرسمي باسم الزعيم الشيعي مقتدى الصدر أن البيان الأخير الذي أصدره الصدر لم يحض أنصاره من جيش المهدي على استمرار المواجهات المسلحة في مدينة الصدر. The movement of opinion on Salah al-Obaidi, spokesman of the Shiite leader Muqtada al-Sadr that the recent statement issued by Sadr did not urge his supporters from the Mahdi Army to the continuation of armed clashes in Sadr City. وأوضح العبيدي أن هناك بعض الأطراف التي تطوعت للتوسط بين تيار الصدر والحكومة من أجل إنهاء الأزمة الحالية وحلها، مشيرا إلى أنه ''لا يمكن كشف هوية هذه الأطراف الآن ريثما يتحقق واقع ملموس في حل الأزمة''، لكنه قال إنها ليست من كتلة الائتلاف. He explained that there are some Obaidi parties that have volunteered to mediate between Sadr's movement and the government to end the current crisis and resolution, pointing out that''no identity can detect these parties now meanwhile reality''in resolving the crisis, but said it was not a coalition bloc.
وتنقل الغد عن القيادي في مؤتمر صحوة العراق الشيخ عبد الجبار أبو ريشة، تأكيده أن صحوة العراق كيان وطني واستجابة لحاجة أهل الأنبار للأمن والاستقرار سرعان ما انتقلت إلى محافظات أخرى ما وضع تجربتها في صدارة المشهد السياسي العراقي لنتائجها الإيجابية على أرض الواقع، وتوقع أن تشهد محافظة الأنبار حملة إعمار كبرى لتعويض الأنبار وأبنائها عما أصابهم وبما يعزز الدور الريادي لهذه المحافظة العريقة. The mobility of tomorrow's leadership role in the revival of Iraq, Sheikh Abdel Jabbar Abu feather, saying that the revival of Iraq's national entity in response to the need of the people of Anbar, for security and stability soon moved to other provinces as a career in the forefront of Iraqi political scene for positive results on the ground, and expected to witness a province Anbar reconstruction of a major campaign to compensate Anbar and her children have suffered and what the leading role to promote the preservation of these ancient.
وتقول العرب اليوم إن الملكية الأردنية نجحت الشهر الماضي في إنجاز عطاء نقل العملة العراقية الجديدة من لندن إلى المصرف المركزي العراقي في بغداد. She says Arabs today that Royal Jordanian has succeeded last month in the completion of the tender new Iraqi currency transfers from London to the Central Bank of Iraq in Baghdad. مصادر مطلعة أبلغت "كواليس" أن الملكية تقدمت لعطاء جديد لنقل العملة العراقية، سيتم الإعلان عن الفائز بالعطاء قريبا. Informed sources reported "behind" the bid for ownership tender for the transfer of new Iraqi currency, will be declared the winner of the tender soon.
وتنشر الغد مقالا للناشط العراقي عبد الحسين شعبان يقول فيه إن استهداف المسيحيين وإكراههم على الهجرة يشكّل خسارة جسيمة للنسيج المجتمعي العراقي وللثقافة العراقية، حيث شارك المسيحيون بحيوية متميّزة في إثراء وإغناء الفكر والثقافة في العالم العربي في حقول العلم والأدب والفن وغيرها، ليس في العراق فحسب، بل إن المسيحية الشرقية كان دورها مشرّفاً منذ حروب الفرنجة (ولا نقول الحروب الصليبية) إلى حركة التنوير والإصلاح ومن ثم في مرحلة الاستقلال وبناء الدولة الوطنية والدفاع عن مصالح الأمة العربية ومستقبلها، إضافة إلى الأقوام والملل الأخرى، كجزء أصيل من الموزاييك العراقي والعربي ومن المشترك الإنساني والسلام المجتمعي. And publish an article tomorrow for the Iraqi activist Abdul Hussein Shaaban says that targeting Christians and forcing them to migrate is a massive loss of the fabric of Iraqi society and culture of Iraq, where Christians participated actively in distinct enrichment and the enrichment of intellect and culture in the Arab world in the fields of science, literature, art, etc., not only in Iraq, Indeed, the Eastern Christian role was honorable since wars Franks (We do not say the Crusades) to the movement of enlightenment and reform and then in the phase of independence and nation-building and defending the national interests of the Arab nation and its future, in addition to other clans and sects, as an integral part of the Iraqi and Arab whose parallel is the common humanitarian The peace community.
الأرشيف
There is understanding between the political parties that we hope to be fruitful.”
--------------------------------------------------------------------------------
Lack of Common Vision among Political Parties Weakened Government: MP
PUKmedia 12:10 30/04/2008
Hajim al-Hassani, the former Speaker of the Iraqi Parliament and a member of the present Parliament stated exclusively to PUKmedia correspondent:” Not able to establish a common vision among political parties is the reason behind the Iraqi Government’s weakness. Unable to control the security side in addition to the appearance of the militias, made the government weaker.”
Al-Hassani added:” Currently, There is understanding between the political parties that we hope to be fruitful.”
http://pukmedia.com/english/News/news180.htm
Political one: Inspector General: to increase the prices of oil derivatives
Exceeded exports exceeded 1.8 million barrels per day
Baghdad morning
rate of exports of Iraqi crude oil of about one million, nine hundred thousand barrels a day from the southern and northern outlets, with the Ministry of Oil confirmed that the next few days will witness a further round of dialogue between the ministry and the Ministry of wealth in the territory
Iraqi Kurdistan to overcome the special problems of oil contracts, in the meantime announced that the ministry about the absence of any increase in the prices of derivatives this year. He said the Inspector General of the Ministry of Oil Abdul Karim Laibi for "Sabah" that the rate of export of Iraqi crude oil amounted to about one million nine hundred thousand barrels a day since the rate of exports from the southern port million, four hundred thousand and one and sixty barrels per day and the rate of exports from the port at the northern Turkish port of Ceyhan three hundred And eighty thousand barrels a day. He added that the high prices Alnfot world will increase the volume of Iraqi imports of hard currency, noting that oil production in Iraq was about pan-two million and four hundred thousand barrels a day and it is hoped to increase production volume this year after conducting the development of the fields. He pointed out that coffee for the next few days will witness new rounds of dialogue between the Ministry of Oil and Ministry of wealth in the Kurdistan region of Iraq to overcome the obstacles facing the parties in the case of oil contracts entered into by the Government of the Territory with global oil companies, noting that this will solve the issue according to the constitution, especially that the government has adopted Resolving this issue through dialogue and transparent so as to ensure the unity and the interests of Iraqis. . In a related, ruled out the Inspector General to require any increase in the prices of oil derivatives this year despite the substantial support provided by the government to import products as the price per litre of petrol imported about 1000 dinars and 450 dinars b sold per litre. He pointed out that this difference in prices led to the reluctance of private sector investment from the distribution despite passing a new law allowing the import of derivatives to investors by building plants belonging to mobilize them. He explained that the ministry had directed for the privatization of the distribution sector as the world's developed countries but this can not be achieved unless the current phase is the rehabilitation of the infrastructure of the oil sector form that suits the development of this sector, like other oil countries.
http://translate.google.com/translat...6sid %3D61220
Talabani and Abdul-Mahdi, calling for the imposition of "law and order and inventory of weapons, however, the State"
BAGHDAD - Iraq votes
30 / 04 / 2008 at 09:53:23
Called on Iraqi President Jalal Talabani and his deputy, Adel Abdul-Mahdi to "impose law and order and inventory of weapons, however, state", and stressed the importance of addressing security problems by political means, as the presidential statement.
The statement received by the Independent News Agency (Voices of Iraq) a copy of which was that the Taliban and upon receiving his deputy Adel Abdel Mahdi, Tuesday afternoon at his residence in Baghdad "stressed the need to impose law and order and inventory of weapons, however, the State in addition to stress the importance of addressing security problems by political means."
The statement added that the two sides discussed "security and political issues of interest to the country" also "discussed the issue of Iraq's relations with neighboring countries and region and the world and ways to invest these relationships in order to serve strengthen the position of Iraq and the higher interest of the Iraqi people."
According to the statement also "had been discussed the latest developments in the course of restoration and development of government and stressed the importance of the return of Ministers Accord Front and its impact on the requirements of the current stage in terms of expanding political participation and reflect the collective leadership and strengthening the national balance."
The meeting comes at a time when negotiations are continuing between the government and the Iraqi Accord Front to persuade the latter to enter it after it withdrew them early last August, and then followed by another withdrawal of the Iraqi List headed by former Prime Minister Iyad Allawi, which has five seats in cabinet.
And operates Accord Front (44) seats of the total members of the House's (275), and is ranked third among the largest parliamentary bloc after the United Iraqi Alliance (83 seats) and the Kurdistan Alliance (55 seats), which represents Sunni participation in government and have five ministries.
http://www.aswataliraq.info/look/art...=1&NrSection=1
Disruption of laws in Iraq will reflect negatively on the activities of other institutions
Wednesday, April 30 2008
The members of the House of Representatives to disrupt a series of laws, such as the election of provincial assemblies and the law of oil and gas, due to problems between the political blocs, and the delay in the conduct of constitutional amendments, which impacted negatively on the activities of other institutions.
For more details, watched the video on this report (sorry thats all there was..the rest was broadcast on alsumaria tv, but it's enough, these laws need to pass!)
http://64.233.179.104/translate_c?hl...-US:unofficial
Big hairy ones man....geeez
Iran discusses package of nuclear proposals with Russia
Posted on Mon, Apr. 28, 2008Digg del.icio.us AIM print email
By ALI AKBAR DAREINI
Associated Press Writer
Hasan Sarbakhshian / AP Photo
Iranian atomic energy chief Gholamreza Aghazadeh, right, shakes hands with acting Russian Security Council Secretary Valentin Sobolev, during a meeting in Tehran, Iran, Monday April, 28, 2008. Iran and Russia on Monday discussed the outlines of "serious proposals" aimed at assuring the international community that Tehran's nuclear program is peaceful, state media reported.
TEHRAN, Iran -- Iran and Russia on Monday discussed the outlines of "serious proposals" aimed at assuring the international community that Tehran's nuclear program is peaceful, state media reported.
Top Iranian nuclear negotiator Saeed Jalili did not provide details of the proposals but said Tehran will soon unveil them publicly.
"The Islamic Republic of Iran has serious proposals about what to do to reduce threats resulting from the nuclear issue to the minimum," Jalili was quoted as saying by Iran's official news agency IRNA.
Later Monday, Gholam Reza Aghazadeh, head of the Atomic Energy Organization of Iran, called the package "a comprehensive plan" addressed to the five permanent members of the U.N. Security Council plus Germany.
"Iran's package of proposals is not addressed to one specific country. It is a comprehensive plan with broad proposals. The spirit of the plan is that Iran is prepared to cooperate with all its capacity to resolve the remaining issues," Aghazadeh told a news conference.
Aghazadeh said the package was discussed Monday with acting Russian Security Council Secretary Valentin Sobolev during his visit to Iran, but was addressed to the United States, Britain, France, Germany, Russia and China.
Those countries have pledged to enhance a 2006 package of political, security and economic incentives in return for Iran halting uranium enrichment. Iran has said it would not trade its rights for incentives.
Russia has been a key ally to Iran in its nuclear standoff with the West, but also has voted in favor of three rounds of U.N. Security Council sanctions against Iran for its failure to halt uranium enrichment.
Iran has denied pursuing nuclear weapons, saying its program is geared toward generating electricity.
Also Monday, the deputy chief of the U.N. nuclear monitoring agency arrived in Tehran to discuss Iran's controversial nuclear program.
His second visit in two weeks comes only days after the International Atomic Energy Agency said it had reached a "milestone" agreement with Iran that aims to provide answers to allegations that Tehran has tried to develop nuclear weapons.
Iranian Foreign Ministry spokesman Mohammad Ali Hosseini said Sunday that Iran was willing to discuss any issue with the U.N. nuclear watchdog but maintained the country had already answered all outstanding questions about its nuclear program.
Mahdi Army Fades Away
http://www.strategypage.com/qnd/iraq.../20080428.aspx
April 28 , 2008: After a month of fighting, the Mahdi Army has disappeared from the streets of Basra, the largest city in the south. The army and police are everywhere, and people are providing information on where Mahdi Army personnel are hiding out, and the locations of their weapons caches. Up north, in the Sadr City section of east Baghdad, the Mahdi Army is still fighting hard. But the army and police have the upper hand, and are pushing the Shia militiamen back block by block. Mahdi Army leader Muqtada al Sadr has responded by threatening to order his men to go after American troops if the government does not back off. That's won't work, because the Mahdi Army is not particularly skillful, and not very united either. He recently ordered his troops to stop fighting Iraqi soldiers and police, and concentrate on the Americans. The Iraqi security forces have not reciprocated, and continue coming after the Mahdi Army.