Fearless Four

Great news, thanks for the post.

Dont you know Dinar packs have Dinar printed boldly everywhere so everyone knows what they are...

http://www.iraq-businessnews.com/2011/07/05/full-details-of-iraqs-dfi-transfer-from-un/

At the end of last month, a spokesman for the Central Bank of Iraq (CBI) told reporters that a plan to redenominate the Iraqi dinar will be presented to the Council of Ministers in the near future. (See here and here.) The Council is then expected to submit the relevant legislation to Parliament for a vote. If the lawmakers approve the project, all existing banknotes will be replaced with new currency at the rate of 1,000 old dinar for one new over some unspecified period of time. Given Parliament’s current backlog, this change can hardly be imminent. Still, you might think they could get around to voting on the CBI’s proposal some time before the end of this year. In that case, the redenomination could presumably be completed by the end of 2012. The process will necessarily involve both the exchange of new banknotes for old and the restatement of contractual obligations in terms of the new currency. Among other things, three zeros will have to be eliminated from the share capital of the ISX listed companies as well as from the number of shares each has outstanding. (This will keep the par value at one dinar.) I’m told this should be a relatively straightforward change for the depository center to make. Trading should not have to be suspended for more than a few days and it may be possible to proceed in phases of a few names at a time so that the entire market does not have to shut down during the transition period. Similarly, it seems reasonable to expect the CBI to exchange new dinars for US dollars at one thousandth the rate for old dinars. In other words, if the original rate were IQD 1170 = US$ 1, post-redenomination this would become IQD 1.170 = US$ 1. All of this seems reasonably straightforward for anyone holding assets such as currency or shares inside the country. For those holding dinar cash outside Iraq, however, things may not be so simple. How and on what terms their old dinars will be convertible into the new currency remains an open question. http://www.iraq-businessnews.com/2011/07/05/new-dinars-for-old/ Post-redenomination this would become IQD 1.170 = US$ 1.

Anytime in the next 2 years will work for me...

Iraq Petroleum 2011, is taking place in The Landmark Hotel, London on 12-14 July 2011. The event presents the perfect opportunity for strategic discussions with key government representatives. The Iraq Ministry of Oil has been actively promoting its oil and gas resources and attracting foreign investment and international project partnerships. Conference Key Topics: How will Iraq build a competitive position in the energy industry globally? Oil prices and the growth of global economy and its impact on Iraq Iraq’s five year development plan on crude oil and gas Upcoming tenders on fields Key project updates for the next phase development, the challenges and opportunities Additional production envisaged this year and the maximum potential of Iraq Beyond oil, what will make the biggest difference to the Iraqi people? Government policies, strategy and legal updates Northern Iraqi production, Kurdistan Region and the significant oil and gas potential Expediting gas development to meet internal and international demand Benefits of Attending Iraq Petroleum 2011: Capitalise on the country’s abundant oil and gas reserves Discover the important features of Iraq’s new oil development plan Discuss issues that are key to effective successful development of the hydrocarbon sector Latest industry updates in this fast moving Iraqi sector Assess the financing options Hear first hand from key stakeholders Understand the key challenges faced in developing the fields in the South of Iraq Benefit from the special focused sessions Become a potential supplier for this market Speakers http://www.cwciraqpetroleum.com/conference-2010/committee.aspx'>http://www.cwciraqpetroleum.com/conference-2010/committee.aspx Event http://www.cwciraqpetroleum.com/

Real Estate, now is the time to buy!

Iraq signed a $365 million agreement to install a pipeline network to import natural gas from Iran for power stations in the country, according to reports from Bloomberg and Iran Independent News Service. The pipelines will eventually supply 25 million cubic meters of Iranian natural gas a day to the Sadr, al-Quds and South Baghdad power stations in the Iraqi capital, Mosaab Serri, a spokesman for the Iraqi Ministry of Electricity, told Bloomberg by telephone. The agreement with Iran, which holds the world’s second-largest gas reserves, requires the approval of the Iraqi Council of Ministers and Parliament. The network of 48-inch pipelines will run for 130 km, and will pass the Mansouriya gas field, which is due to supply gas to the two power plants instead of Iran starting 2016, Serri said in a statement on May 22. Kuwait Energy Co., Turkiye Petrolleri AO (TPAO) and Korea Gas (Kogas) secured rights to develop Mansouriya. Iraq and Iran have also reached an initial agreement to install another pipeline network from the Iranian region of Abadan to Basra in southern Iraq where it will feed a planned 1,250-megawatt power station, Serri said. http://www.iraq-businessnews.com/2011/07/01/iraq-signs-365m-iranian-gas-pipeline-agreement/

Thanks Doc, Have a great weekend...

Click on them and see what happens...

http://www.youtube.com/watch?v=1cpU7aMjXhE

Would love to hear from Scooter but he announced he is taking a break. Give him some peace.

Thank you Veterans and Servicemen, it is because of you we have this opportunity, and our freedom in this great country.

Thanks for a great article.

Thanks Easy!

Thanks for the post!

Hope all is well with you and your family? Thank you for providing a great forum.

Cool Beans, thanks for the post k98nights!

I'll gladly pay you Tuesday for a hamburger today

A big thanks to your Son for his service. Who came up with this bologny? What are these mysterious Vouchers?

Ignore the Haters, most are not Iraq Dinar speculators.

Iraq’s oil production has risen to 2.63 million barrels a day, up by 15 percent from the same period last year, according to Bloomberg. Crude exports averaged 2.18 million barrels a day in the first five months of 2011 and are expected to increase in the second half of the year, Hussain al-Shahristani, deputy prime minister for energy affairs, said during a Cabinet meeting on the government’s performance in its first 100 days. Higher oil prices, averaging $103.6 a barrel, helped Iraq earn $34.1 billion in oil revenue in the first five months of this year, an increase of $8.7 billion, or 34 percent, over budgeted revenue.. Reuters quotes government officials as saying they expect the windfall oil revenue to cover a budget deficit of $13.4 billion projected in 2011. Two offshore mooring facilities with a total capacity of 1.8 million barrels a day will start operating in the southern oil hub of Basra at the end of the year, and two more with similar capacity will open in early 2012, he said. http://www.iraq-businessnews.com/2011/06/07/iraq-oil-revenues-34-ahead-of-budget/