Iraq sets deadline for Exxon on Kurdistan oil deals

Tue Mar 6, 2012

Exxon Mobil late last month disclosed its plans to explore for oil in Iraq's Kurdistan in the company's annual report, breaking months of silence over the investment that has outraged Baghdad.

The KRG said the production-sharing contract with Exxon was signed on Oct. 18, 2011.

The Iraqi government wants Exxon to make it clear whether it will proceed with the Kurdish deals or freeze or cancel them.

Exxon's move into Kurdistan has drawn attention to tensions between Baghdad's Arab-dominated central government over who has the authority to develop oilfields in the Kurdish zone. The central government gives the Kurdish authorities 17 percent of federal oil revenue and insists on a monopoly on exports.

Shahristani, architect of recent Iraqi oil deals and a strong opponent of Kurdish energy autonomy, said last month Exxon could be blocked from participating in a bidding round for exploration deals in May because of its Kurdish deal.

Iraq's oil and gas field have suffered from decades of neglect because of war and economic sanctions. In the past three years it has done a raft of deals with foreign oil firms, and more deals are on offer that would make it the world's biggest source of new oil production over the next several years.

However, Baghdad has offered fee-for-service contracts rather than the production-sharing agreements which foreign firms consider more lucrative.

The Kurdish region has offered production-sharing deals to firms willing to do business directly with it, but before Exxon's deal last year, only smaller firms had agreed to participate.

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Economist: delete the zeros is an urgent need to raise the value of the Iraqi currency in the market

Tuesday, 06 March / March 2012

Said Husam Obeid, an economist that the step to delete the zeros of the Iraqi currency has become an urgent necessity in order to raise the value of the Iraqi currency against foreign currencies added to maintain the balance in the market.

Obaid said in a statement received by all of Iraq [where] that "this procedure need to be a political decision," calling for "the need to speed up the deletion of zeros from the Iraqi currency, because the move from large and positive returns on the Iraqi economy."

He added that "this step is not involved in any negative repercussions, as it is a very positive step given the strength of the currency and contribute to the elimination of the negative consequences arising from the density of cash as one of the main problems that we have in the banking business, both in the operations of counting currency, sorting categories and damage including the poor and the provision of security measures necessary to move them. "

And that "Iraq is not the only country that resorted to this option, many of the countries of Europe followed after World War II, including Germany, Turkey has recently embarked on a six zeros from the deletion of its national currency."

The Central Bank of Iraq and on to San bank adviser appearance of Mohammed Saleh told Al [where] the need for Iraq to the process of administrative reform of the currency cash and that the project to delete the zeros is a step comes as part of the country's need to the process of administrative reform of the currency in order to reduce the cost of cash transactions in the economic process as well as to the need to provide small groups of coins used in daily circulation of small transactions.

The officials at the Central Bank as well as some politicians and economists urged the government to delete the zeros from the currency and the issuance of new currency denominations large cash in addition to the presence of small coins.

Observers say that the government intends to delete the zeros from the currency as a step towards improving the purchasing power of the Iraqi dinar is that economists played down the importance of this step, considering that the cost of raising the zeros will be greater than the expected benefit of raising the zeros. Ended

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Iraq seeks Italy's help on UN Chapter VII removal

06/03/2012

ERBIL, March 6 (AKnews) - Iraq's deputy parliament speaker Qusay al-Suhail has called on Italy to help lift the UN Chapter VII sanctions imposed on Iraq, reports Aswat al-Iraq.

According to a statement from Iraq's parliament, Suhail sought help in a meeting with the head of the political department at the Italian foreign ministry Sandro Bernardin and the Italian ambassador to Baghdad Gerardo Carante.

The meeting saw both parties discuss ways to improve political and economic ties between Iraq and Italy.

A decision on Chapter VII is expected to be made by the UN Security Council in June.

The news follows Australia's support for the withdrawal of Iraq from the Chapter VII sanctions.

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Economic and investment representative: Height witnessed by the dollar against the dinar fully controlled

Tuesday, 06 March / March 2012

According to a member of the Economic and Investment parliamentary Abdul-Abbas broadly that the high price of the dollar against Iraqi dinar completely controlled by the central bank does not call to fear

He said Xiaa told all of Iraq [where] that "the central bank adopted a strategy to meet the market need of hard currency are reasonable and set controls for control of the deal in hard currency in order to avoid loss of control," asserting that "the rally that has seen the Iraqi market price of the dollar dominated completely."

"The Central Bank has taken several measures including that it was stipulated that the companies that buy foreign currency from the central bank to have a bank account in the bank," noting that "measures will be taken to close the company is registered in the bank."

And broadly that "the Bank formally select a price for dealing in dollars of 10 Iraqi dinars per dollar profits of the sale of one or both transfer companies banking companies," adding that "companies that do not adhere to these Altalimatiglq."

He noted that "the Iraqi dinar is strong there is no need to fear a decline in value and in the Central Bank reserves of hard currency [the dollar] exceed [60] billion dollars as a cover of the Iraqi dinar," explaining that "this amount ensures the Iraqi dinar stability for years and not have to fear from the current rise ". finished 2

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Deputy for Iraq: Maliki to speed up the meeting with the heads of the blocks before the Arab summit

Tuesday 3/6/2012

Baghdad (news) .. MP said / the coalition in Iraq / Hamid al-Mutlaq, on Prime Minister Nuri al-Maliki to speed up the meeting with the heads of the blocks before the Arab summit to direct messages to reassure Arab leaders.
He said al-Mutlaq said in a statement (of the Agency news) said on Tuesday: "Unfortunately, we always call and constantly to be provide the prerequisites for the success of the Arab summit, and everyone sits together and debating as Iraqis and Aokhdhu with one voice and exceed their differences, but you see today what is happening and perhaps this is happening from breaches security here and there also is an attempt to abort the Arab Summit in Iraq. "
The al-Mutlaq: the Arab summit, you can not convince the others and that create the reasons for its success unless directed voice of an Iraqi one and only Iraq will be weak for countries in the Arab summit, and continued: on Maliki to meet urgently with his ministers and the heads of the blocks and working to develop a new curriculum for government work to be delivering a message to all the Arab leaders that Iraq is ready to host the Arab summit.
The host Iraq for the Arab summit to be held the end of next March, which gathered heads of the kings of the Member States of the Arab League, the event is the largest international, organized by the country since 2003, and formed the secretariat of Baghdad, by the way of a committee to create and insurance requirements for the Conference of the Arab summit and to provide insights, ideas, and the preparations necessary to improve and develop the interface construction of the city of Baghdad, commensurate with its history and its place in coordination with the ministries and relevant authorities
And Iraq participated in the Arab summit twenty-second session held in Sirte, Libya late last March, at the level of the Ministry of Foreign Affairs, representing Iraq's minister, Hoshyar Zebari, and discussed at the summit, the most prominent Arab issues, including the Palestinian issue, and the draft statute of the Iraqi parliament, in the absence of Lebanon high-level participation after the announcement of the Lebanese President Michel Suleiman on his personal failure, against the backdrop of uncertainty surrounding the Libyan role in the case of the disappearance of Imam Musa al-Sadr.
It is noteworthy that Iraq has hosted the Arab summit twice, hold it for the Arab summit ninth in 1978 and that decided to boycott companies and organizations operating in Egypt that deal directly with Israel and not to approve the Camp David, as well as the convening of the summit of the 12 in 1990, which witnessed a severe tensions between Iraq and Kuwait and the UAE and the United Arab erupted evacuated the first Gulf War. / Finished / 3. for. m

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Sadr: Allawi told an international conference of the political crisis in Iraq

06/03/2012

Karbala, March 6 (AKnews) - The leader of the Liberal parliamentary bloc on Tuesday, told the Iraqi leader Iyad Allawi, the possibility of convening an international conference to resolve the political crisis of Iraq, as the crisis in the political situation, and confusion to the Arab summit.

A member of the National Alliance Hasnawi Jawad told the Kurdish news agency (Rn) announced today that "the issue of Iraq should be a speech in which an Iraqi, and should not get into the limbs because they are non-Iraqi Stazm the political situation of the country more."

He said, "I think that the Arab summit in Baghdad must be all the political blocs and Iraqi political leaders and it must work on the make it work without any interference, because the returns that it's not the interests of any political bloc."

The Hasnawi that "the statements by some leaders of the Iraqi List, is a successful and unjustified, especially those related to international intervention in the Iraqi issue, and we consider this an invitation of the Sadrist movement blatant." He says .. He called the Iraqi List, the Iraqi conference calls for dialogue in which an Iraqi pure issue and unanimously agreed by all the political blocs. "

It should be noted that the Iraqi leader Ayad Allawi, he had made press statements on Monday from the Turkish capital of Istanbul, he threatened to hold an international conference to resolve the political crisis with the participation of Turkey.

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Economist suggests the exploitation of Baghdad summit to cancel the debts owed to the Arab countries

Tuesday 03/06/2012

Baghdad (news) .. the economist suggested Salem Daini raising the issue of cancellation of debt owed by Iraq by the Arab summit in Baghdad for the purpose of building the economy and development.
The Daini (the Agency news) on Tuesday: Iraq has all the elements of investment and could attract countries in the world to him and has a wealth of large oil qualify as state actors in the market, the world's oil, so it could benefit Iraq of these elements of large economic pressure on Arab countries to cancel debts the fact that most European countries and East Asia has canceled all debts owed by Iraq with the exception of the Arab countries.
He stressed: the need to exploit the presence of Arab leaders summit in Baghdad to cancel all debts incurred as a result of wars and sanctions on Iraq that has passed in order to promote the economy and not influenced by this huge debt.
He added the federal government to impose conditions on the countries that send its companies to invest in the country, which granted privileges to the interests of Iraq and its people Kalghae debt or interest in the advancement of the Iraqi economy.
According to an economist is that most of the countries of the world wars of intervention and a large fight in order to build its economy, but Iraq has yet to play a real role and effective for the advancement of the national economy and development. / Finished / 8. D. Q /

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Mahmoud Othman: America put pressure on Gulf states to attend the Arab summit, Saudi Arabia, especially for a new relationship with Iraq

Tuesday 3/6/2012

Baghdad (news) .. The MP said the / Kurdistan Alliance bloc / Mahmoud Othman said that the United States is pressing for the time being on the Gulf states, particularly Saudi Arabia to cooperate with Iraq to the success of the Arab summit at the very least.
Othman confirmed in a statement to the Agency (news) said on Tuesday: that the U.S. side compressor now on the Gulf states including Saudi Arabia to cooperate with Iraq and its participation in the Arab summit in order to make it a success and that the very least, an application for the United States from the Gulf states to cooperate with Iraq.
Othman explained: that Saudi Arabia is aware of the conflict a sectarian coming to the area after the events of Syria, and thus it is possible that the Sunni community in the party and Shiites in the other party, as well as Turkey and Iran from the other party, so Saudi Arabia want Iraq to change its position on Syria and that is not supporting them, indicating Saudi Arabia is now working toward topple the Syrian regime, and you want that Iraq was not in favor of at least that does not have an opponent and if it could the dimensions of Iraq from Iran, this is another important aspect, noting that the United States and parties to other Gulf working to reduce Iranian influence in Iraq by making Iraq that have a relationship with Iran, and therefore less will be more with Saudi Arabia.
He pointed out: that the effects and minimize makes this party wants to drag Iraq for good and the other party wants to drag Iraq to be valid, so you must maintain a balance by bias Iraq to another party the other party Maah or against him, and continued: It is not easy for the government to maintenance of the stick from the center in this period because if the Iraqis agree, and the blocks are consistent and have the position of an external one could agree, but if this remained Alchda they can not never known.
The Iraqi Interior Ministry announced on Wednesday (March 29 2012) on the agreement with Saudi Arabia on a new phase of security cooperation in the fight against the terrorism and drug smuggling across the border, while confirming that the Iraqi delegation headed by Minister of Justice will visit Riyadh soon to discuss issues related to the file of the exchange of prisoners and convicts
It was announced, Iraqi Foreign Minister Hoshyar Zebari, in the February 21, 2012, that Saudi Arabia has appointed an ambassador to Iraq, to ​​restore full diplomatic ties between the two countries in a move is the first since the severance of diplomatic relations after the invasion of Saddam Hussein's regime of Kuwait in August 1990, where taken Riyadh stance militants from the system and then became a base for gathering the multinational forces which consisted of more than 30 nations to liberate Kuwait.
Despite the attempts of Saddam's regime to restore relations with Riyadh, which seemed more pronounced in the Beirut summit in 2002, meeting Iraqi Vice President Izzat al-Duri with Saudi King Abdullah bin Abdul Aziz, who was then crown prince, but the intention of the United States to attack Iraq and topple Saddam caused the failure of any an effort to bring the relationship between the two countries.
After the fall of Saddam Hussein's regime in April 2003, relations have been any positive development, but experienced tension almost continuously on charges of Riyadh for the Iraqi government of sectarianism and accusations of Iraqi politicians Shiites of Saudi Arabia to support acts of violence in the country during the past years, and that does not work the opening of the Iraqi Embassy in 2007 and the appointment of an ambassador Ghanem Jumaili in Riyadh two years later, to the normalization of relations. / Finished / 3. n. r /

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Maliki's visit to Kuwait mid-month

02/03/2012 14:10

Baghdad, March 2 / March (Rn) - The Iraqi government said Friday it agreed with the Kuwaiti government that is the visit of Prime Minister Nuri al-Maliki to Kuwait in mid-March March.

Said Mary Rayes Adviser to the Prime Minister told the Kurdish news agency (Rn) that "al-Maliki will visit Kuwait mid-March now."

She said, "will discuss (Maliki) all outstanding problems and will try to solve it and open a new page of economic and political relations."

She stressed that the Iraqi government to discuss the issue of the establishment of the Kuwaiti port of Al-Mubarak will be presented in Maliki's visit to Kuwait.

Have been strained in recent Iraqi-Kuwaiti relations because of Kuwait's intention to build the port of Mubarak Al-Kabeer, and which, according to the Ministry of Transport said it had hurt the Iraqi maritime navigation.

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