Texan49

| Business | At Last, Kurdistan's Oil Flows At Last, Kurdistan's Oil Flows 07/02/2011 08:47:00 By HAWAR ABDUL-RAZAQ Font size: A worker at the Tawke oil field near the town of Zakho.----- Photo/Getty Images. ERBIL, Iraqi Kurdistan: Oil finally started to flow again from Iraqi Kurdistan Thursday, after an agreement was reached between Baghdad and the semiautonomous region. Some experts believe this “big step” will pull the world’s biggest oil companies to Kurdistan. The Norwegian oil company DNO, one of the largest oil operators in Iraqi Kurdistan, announced Thursday that oil exportation had begun from the Tawke oilfield, a fact confirmed by the Iraqi government. This comes after over a year of stalling due to a dispute between Baghdad and the Kurdistan Regional Government (KRG) over the payment of the KRG’s contracts with the nearly 40 foreign oil companies working in Iraqi Kurdistan. Until the dispute began, the Kurdistan region briefly exported oil abroad from June till September 2009, producing 60,000 barrels per day (bpd), mainly from the Tawke oilfield. “The Oil Ministry accepted these contracts because the nature of the extraction in Kurdistan is different from Basra,” Iraqi Prime Minister Nuri Maliki told the AFP news agency Saturday. “There is a need for bigger efforts there while in Basra it’s closer to the surface.” Samuel Ciszuk, a researcher at IHS Global Insight, a private energy research company based in London, said the agreement between Baghdad and the Kurdish government was a “big step” for Kurdistan’s economy. “Exclusive and equal agreement will free the oil sector in the region,” he said. “There is a very big possibility that well-known international oil companies will try to buy shares from those small oil companies who work in Kurdistan and [then] enter Kurdistan’s oil industry.” Ciszuk said, up till now, the big companies had avoided Iraqi Kurdistan because of the region’s problems with the Iraqi government over oil, but that the solving of these problems would open the way for them. DNO, who had originally signed its oil agreement with the KRG in 2004, said it had invested around US$500 million in the region so far. “We have great belief in the potential for a healthy and sustainable oil industry in the region,” said DNO spokesman Tom Bratlie. “DNO has facilities and infrastructure in place…to produce and export 50,000 bpd.” Kurdistan’s Natural Resources Minister Ashti Hawrami has said the exporting of oil from the region would start at 100,000 bpd, as required by the agreement with Baghdad, but would increase to 200,000 bpd by the end of the year. The oil is to be exported from the DNO-managed Tawke oilfield, near the town of Zakho at the Turkish border, as well as from the Taq Taq field, which is managed by the Turkish company, Genel Enerji. Earlier this year, an adviser from the KRG’s Natural Resources Ministry told Rudaw that the Kurdistan region had the ability to be producing one million bpd within three years. However, Ahmad Jiyad, an independent consultant and former senior economist with the Iraqi Ministry of Oil, said the KRG was placing itself under too much pressure by agreeing with Baghdad to produce a minimum of 100 bpd. “So far the full detail of the agreement hasn’t been published or seen, but if the agreement is based on the Kurds producing 100 bpd, then the KRG will be forced to produce that amount,” said Jiyad. “If they do not, then this will have an effect on the KRG’s annual budget, as it will decrease according to [oil] production [as stipulated in the agreement].” The oil exports appear to be going ahead despite the failure of the Iraqi parliament to pass its Hydrocarbon Law, one of the preconditions of the Kurdistani coalition joining Maliki’s State Of Law coalition to form the recent Iraqi government. www.rudaw.net/english/business/3451.html

Good One...

Sounds like a lot of good news coming out of Iraq,hopefully this ride will be over soon. Being a Dallas Cowboy fan, i will be rooting for the Pack ,keeping it in the NFC. They will become the second team to have beat the Steelers in the Super Bowl. Final Score Packers 27 Steelers 23. Go Iraq get r done. Oh yes lets don't be throwing rocks in this thread.

I believe he/she is implying that a $1,000.00 investment is worth $260,000.00 IMO

Keepm thanks for the info keep us posted coming from you I tend to believe what you are saying. I bet what you was really thinking when you heard this is rather or not I should post this info for all the bank rumors flying around and all the bashing going around with them..Thanks for sharing sounds like things are happening..hopefully sooner rather than later GO RV and GO PACK

Allready posted today by Woody

Thanks doc for all you do great job as always....

Here is something that was sent to me This is an awesome article about Iraq joining the WTO. They call for the RV of the Dinar. We have to be close. Feb. 17th they expect to be accepted into the WTO! The only way they can pay their debt is an RV! Iraq wants to join WTO Posted on 13 September 2010 We reported last month that Iraqi Minister of Labor and Social Affairs, Mahmoud al-Sheikh Radhi, had rejected the idea that Iraq should join the World Trade Organization (WTO); now a source in the outgoing Iraqi government said on Monday that Iraq is in negotiations to become a member. An Iraqi task force was established in December 2004 to pave the way for the country’s membership in the organization, and it has officially submitted a request to the WTO expressing Iraq’s desire to join the organization. “Iraq has taken big steps in its efforts to join the WTO especially after talks were held with the member states in the organization,” said Ibrahim Zenjili, a member of the task force, according to a report from AKnews. He said the main duties of the task force are reducing the difference of value between the Iraqi Dinar and U.S. dollar and activating Iraq’s private sector. Zenjili said the major condition set by the member states of the WTO for Iraq to join the organization is Iraq’s foreign debt – the country owes billions of dollars to various countries. Established in 1995, the WTO deals with the rules of trade between nations. It currently has 153 members. http://www.iraq-busi...ts-to-join-wto/ Related Article sorry link not working

Doc glad to hear your okay.. I look forward to your post every morning with my cup of coffee,before I head off to work.You have been missed, but I understand your position.Keep up the great work and will be looking forward to your posts when you can..

I totally agree with what you had stated...+ rcone4u+s for you don't let these fools who bashed you get you down.. I have bought all of my dinars from Dtrade and all the ups delivery people I run in contact with say i know what that is I have some too..You must have had a one of those ups delivery people who are like some of the people on this site,that just don't have any values...

No o in Chicag... Game over can't see the bears defense or special teams scoring three times.. turn out the lights..Now we just wait to see who will be going to the big game to get beat by the PACK...

The Pack will be here in Arlington,Texas in two weeks playing in the best stadium in the NFL and taking home the Lombardi trophy.I have never been to an event in the new stadium,however I did some work there.Go Pack and Go Iraq gettin R done. Oh and thanks Adam for all you do..

I can see the auction with the update, I'm talking about the home page top right indictive rates have not been changed since 17.1.2011

I was thinking the same thing when you posted. However would they still have auctions?

Doc have you ever seen them not update their indictive rates..still showing 1/17/2011 Thanks for all you do..

Has anyone noticed that the cbi has not changed their indictive rates since yesterday? has this happened before when they have been open for business?

Thanks for sharing..no dates / no rates just good positive info..

One article is saying the second reading in two days.

Some articles are just like reading rumors unless you are setting in the meetings,know body really knows.take it all for what is worth just speculation at this point..

Treat it like any other rumor without a link or article it is just that...Not bashing Adam at all just saying. I for one appreciate this site. It is the best Dinar site bar none.Here lately there has been alot of bad comments being made.I would like to suggest if you do not have anything nice to say or anything positive to say just move on.. Go Iraq Get to Work.. Here is a Question,Did Iraq have any training on their currency when they went from the Saddam currency to the current currency???

Thanks Doc I hear you loud and clear..Very interesting points.. Thanks for all you do..

I have talked to one of my friends who is a currency trader and he feels that something appears to be happening with the IQD,In his opinion he thinks that it is being loaded with the new rate in the background and should be seeing it soon.Take this for what it is worth. I am only sharing what is being told to me.

TRY this Oanda site http://www.oanda.com/cgi/fxlookup/CurrencyInfo.pl?currencyCode=IQD everytime I've tried to copy and paste it changes.

Forex Trading Exchange Rates Money Transfers Currency Hedging About Us My Account Register Help Search Currency Converter Currency Tools Data Services Web Tools Mobile Home FXLookup Results Code Currency Name Country Format Decimal Points Currency Regime Major Unit Minor Unit Equivalence IQD Iraqi Dinar Iraq ID 3 US-$ (0.3109) dinar fils 1000 fils = dinar Another Search Click on a currency name to get the latest exchange rate for that currency to US dollars, from our Currency Converter. If you know of any updates to the above information, please contact us and let us know. Related Products: World Central Banks and National Holidays Foreign Exchange Tools Historical Exchange Rates Average Exchange Rates Travel Exchange Rates Currency Cross Rates Quick Currency Links Currency Table Android Forex Trading iPad Forex Trading iPhone Forex Trading More on OANDA Forex Demo Account Blackberry Currency Converter iPhone Currency Converter Exchange Rate Data Feed Terms of Use Privacy Advertise Site Map Contact Us Feedback © 1996 - 2011 OANDA Corporation. All rights reserved. All Registered Trade Marks used on this Website, whether marked as Trade Marks or not marked, are declared to belong to their respective owner(s). OANDA Corporation owns Trade Marks of all its "FX" products.

This is weird I can't open the links after I posted but from my email I can. Sorry..