TheArtistFormallyKnownAs

Platts - [3/5/2012] BP and Schlumberger, among others, have submitted offers to increase output from the Kirkuk oil field in northern Iraq, Iraqi Oil Minister Abdul Karim Luaibi said Monday. Speaking at a ceremony dedicating the first Extractive Industries Transparency Initiative report at the ministry in Baghdad, Luaibi confirmed it was progressing with talks to develop and rehabilitate Kirkuk, the country's oldest producing field which began commercial operations in 1927. "We are now in the process of studying offers from several IOCs, like BP and Schlumberger, to develop the Kirkuk oil field," Luaibi said, without elaborating. Kirkuk was offered in Iraq's first bidding round in June 2009, but the only bidder, a Shell-led consortium, requested a much higher remuneration fee than Baghdad was willing to pay. Since then, the state-run North Oil Company has carried out a limited program aimed at forestalling further production declines from northern Iraq's biggest oil field. Kirkuk, the mainstay of Iraq's northern oil export stream, which is mainly delivered by pipeline to the Turkish Mediterranean port of Ceyhan, produced as much as 1.5 million b/d under the regime of the late dictator Saddam Hussein, although experts warned that was well above the reservoir's sustainable capacity. Industry sources estimate Kirkuk's recent output at about 260,000 b/d. In late February, the Middle East Economic Survey reported that BP was in talks with Baghdad to restore Kirkuk's production capacity to as much as 700,00 b/d over five years. Iraq has said since the 2009 bidding round that it was willing to discuss development offers by international companies, but has not defined any output target or timeline. http://www.iraqdirectory.com/DisplayNews.aspx?id=18663

Dunia Weekly Iraq Market Tracker Posted on 05 March 2012. Dunia Weekly Iraq Market Tracker Advertising Feature Iraq Business News is delighted to bring you the latest Iraq Market Tracker report from Dunia Frontier Consultants. The market tracker highlights the activities and market performance of a basket of publicly traded firms who derive a significant percentage of their revenues from operations in Iraq, but are traded on foreign exchanges: a proxy Iraq play as much as practicable. It also identifies and analyzes the primary political and security events that occur in country that have market-moving implications. Click here to access the report. Companies Mentioned: Exxon Mobil Action Calls: Maliki turns to foreign policy as domestic issues wind down: Domestic confidence as outreach to Arab world shows multi-dimensional foreign policy. ExxonMobil confirms Kurdistan deal in Iraq: Not much new. Mainly significant in showing status quo continues. Headlines: Tamim Sahwa demand merger with Defense Ministry: Positive sign for security in Sunni areas of Iraq. Peshmerga may push into Diyala: Watch for more friction between Arabs and Kurds in Diyala this goes through. Army pulls out of Basra: Sign of confidence in security in Basra. Calendar Events Discussed: 29 March – Arab League summit April – National Reconciliation Conference http://www.iraq-businessnews.com/2012/03/05/dunia-weekly-iraq-market-tracker-9/

Nujaifi to discuss pending issues during Kuwait visit – MP 3/4/2012 10:14 PM BAGHDAD / Aswat al-Iraq: Iraqi Parliament Speaker Osama al-Nujaifi will discuss his four-way initiative and a number of outstanding issues during his current visit to Kuwait with officials there, according to a legislator from al-Iraqiya bloc on Sunday. “Nujaifi will call on Kuwait to back his quadrilateral initiative as well as borders, Iraq’s debts for Kuwait, bringing Iraq out Chapter VII of the UN Charter and the Mubarak port,” Nabil Harbo told Aswat al-Iraq news agency. During his meeting with Iranian Majlis Speaker Ali Larijani in Tehran earlier, Nujaifi had proposed an Iraqi initiative to host a dialogue brining together Iraq, Iran, Saudi Arabia and Turkey in a bid to tackle pending issues among the four parties. “Bolstering bilateral relations between the two countries and improving ties among neighbors, particularly Iran, will also be Nujaifi’s agenda of talks in Kuwait,” said Harbo. The Iraqi parliament speaker had left earlier on Sunday for Kuwait on an official visit at the head of a senior parliamentary delegation to attend meetings of the 18th Arab Inter-parliamentary Union (AIPU) conference, hosted in Kuwait, where speakers of 18 Arab parliaments http://en.aswataliraq.info/%28S%28jccm2cz1efjzth45tn5wjtfl%29%29/Default1.aspx?page=article_page&id=147253&l=1.

- [3/4/2012] Government official said that Iraq needs investment ranging from $ 500 to $ 700 billion over the next ten years for the rehabilitation of the country's infrastructure. The Chairman of the National Investment Commission Sami al-Araji, said in a seminar with investors in the Indian capital New Delhi that there was significant investment opportunities in Iraq, compared with investment opportunities in Germany after the end of World War II in 1945, according to France Agency Press. Araji noted that it does not deny the existence of security challenges to prevent foreign companies entering the field of investment in Iraq, but returned to say that the situation has improved significantly compared with the previous period. Al-Araji, who is visiting India in a government delegation called the Indian to urge their companies to invest in Iraq which is now opening to foreign investment.

Translated by Iraqdirectory.com - [3/4/2012] Indian Oil Minister said his country seeks to import additional quantities up to 80 thousand barrels per day of Iraqi crude in 2012 to 2013, as part of efforts to the third-largest economy in Asia to procure alternative supplies in anticipation of the cessation of Iranian shipments. Q. Jaipal Reddy, the minister, said after a meeting with Iraqi Deputy Prime Minister Roche Shaways in New Delhi that Iraq is now the third largest supplier of oil to India, where it exported about 340 thousand barrels per day. Reddy said India is not looking to cut its imports from Iran, which faces Western sanctions that seek to prevent it from continuing its nuclear program, which many say aimed to make weapons, a charge which Tehran denies. http://www.iraqdirectory.com/DisplayNews.aspx?id=18657

Translated by Iraqdirectory.com - [3/4/2012] Iraq's requested on Tuesday from the United States formally extended the protection of its funds abroad for another year. Government spokesman Ali al-Dabbagh said in a statement on Tuesday that the Council of Ministers approved in its recommendations of the Ministerial Committee on the subject of Iraqi funds abroad. Iraq formed last year, a ministerial committee with the task of recovery of Iraqi funds in a number of countries after the adoption of the Law by the House of Representatives the retrieval of Iraqi funds abroad. Al-Dabbagh said that he will discuss the issue raised by the U.S. Office Inspector General to act on the safety of the amount of seventeen billion dollars of Iraqi funds and to consider the Board of Supreme Audit contact while retaining the reference for the Committee to Protect Iraq's money in this regard. Al-Dabbagh said that he was assigned to the Ministry of Foreign Affairs approached the U.S. side through diplomatic channels for the issuance of U.S. President Barack Obama's executive order to constantly protect the funds of Iraq for an additional year as of the other twenty-second of May. The UN Security Council voted unanimously in mid-January for the past extended the immunity and the last stage of the imposed compensation under Chapter VII to the end of next June. http://www.iraqdirectory.com/DisplayNews.aspx?id=18656

Iraq emerging 2nd biggest crude oil supplier The Hindu Business Line - [3/4/2012] Iraq seems to be displacing Iran as the next favoured supplier after Saudi Arabia, which continues to be the largest supplier of crude oil to India. This is as the domestic refiners look at reducing imports Iran. Though India has been maintaining that it is not looking to reducing imports from Iran, domestic refiners are looking for alternate sources. Domestic oil refiners such as Hindustan Petroleum Corporation, Bharat Petroleum Corporation and Mangalore Refinery and Petrochemicals Ltd have been treading cautiously for supplies from Iran following the sanctions imposed against it. Expectations are that sourcing from Iran will be cut by at least 10 per cent. While Hindustan Petroleum Corporation has already said it will cut Iranian imports by about 15 per cent for its annual contract, private refiner Essar Oil is taking its full volume. On February 29, to meet its growing crude oil demand, India sought additional 3-4 million tonnes supplies from Iraq for the next fiscal. Iraq is currently India's third largest oil supplier. India buys about 17 million tonnes of crude oil from Iraq annually. This was close on the heels of seeking higher volumes from Saudi Arabia. On February 23, India sought 4-5 million tonnes more crude oil from Saudi Arabia for the next fiscal and each passing year. India buys 27 million tonnes annually from Saudi Arabia. Till now, Iran is India's second-biggest crude oil supplier, meeting about 12 per cent of the country's needs and continues to do so. According to industry observers, Iraq is emerging as the next major supplier as two big domestic refiners — Indian Oil Corporation (13 million tonnes) and Reliance Industries — source their crude from here. http://www.iraqdirectory.com/DisplayNews.aspx?id=18653

Iraq presents a candidate for the post of Secretary General of OPEC Translated by Iraqdirectory.com - [3/4/2012] Iraqi official said on Thursday that his country has provided a candidate for the post of Secretary General of OPEC candidate to compete with Saudi Arabia the largest producer in the Organization. The official said that Baghdad was nominated Thamer Al-Ghadban tocome after Abdullah Al-Badri as Secretary General. The period of Al-Badri will end at the end of 2012. Al-Ghadban, who is the largest energy adviser to Iraqi Prime Minister Nuri al-Maliki, served as Minister of the Iraqi oil after the U.S. invasion. Saudi Arabia may be nominated in January, its representative in OPEC Majid Al Munif for the post. Iran has said it may offer a candidate to succeed Al-Badri. The Secretary-General is the chief representative to OPEC - whose membership includes 12 countries - in the international arena and helps in the formulation of its policy production in the organization and administers the OPEC Secretariat in Vienna. OPEC, which experienced difficulty in selecting the Secretary-General in the past will discuss this matter at its next meeting in June. Al-Badri was began its work in this office in 2007 after three years of dispute over who is being handled. Delegates said OPEC on Wednesday that the organization may request from Al-Badri to continue in office for a third term in the former is the first of its kind if it fails to reach consensus on a successor. http://www.iraqdirectory.com/DisplayNews.aspx?id=18650

AK News - [3/3/2012] The Iraqi Planning Ministry has unveiled a plan with the Oil Ministry to increase the production of dry gas from its current rate of 800m cubic meters per day (qm/d) to 2,750m qm/d by 2014. Deputy Minister Mahdi al-Allak said the ministries of planning and oil will develop the production of dry gas through increasing the production of Okaz and Mansuriya fields and reducing amounts of burned gas. "The plan focuses on reducing the amount of burned gas to 150m qm/d instead of 700m qm/d with the preservation of the environment from pollution and processing the environmental problems resulting from the activity of the oil and gas." The Oil Ministry signed on November 27 a final contract with Shell and Mitsubishi Gas for the establishment of Basra Gas company. On June 12 the Iraqi Council of Ministers signed a contract with Shell and Mitsubishi to collect the gas from southern oil fields. The produced gas is intended to be used in the local market to meet the growing demand for electricity, and there is high possibility that any surplus will be exported. www.iraqdirectory.com/DisplayNews.aspx?id=18637

Hi Don't know if it has been on already . http://www.iraq-businessnews.com/tag/revaluation/

Thanks usndiver thats a load lifted. Thanks rulesforrebels as well. And sorry for calling my dealer a swine.

Hey Guy's I have more then a million dinar with writing and bank stamps ect ect on the notes is it true that the CBI wont exchange then? The last batch I got had exactly a million with writing , The Swine.

If it takes 1000 dinar to buy 1 doller and if you take the three 0's away you only need 1 Dinar to buy 1 Doller I'V ALWAYS WANTED TO SAY THIS , GO RV