etool101

No one ever addressed the insurance thing, how is any money invested, or placed in a Warka account made safe?

The question is, does anyone actually think OPEC is going to let this happen?

Look at the Oil contract China recieved in return for that debt elimination though, it will MORE than make up for it.

I disagree with your time line. Chap 7 needs to be done BEFORE the elections, or Maliki can kiss the office goodbye, and too many other countries want him in that seat. I think we will see the capt 7 lifted as early as this week, as late as next week. Also I think the rate will be more on par with the former IMF record pre-chap 7 of between 2 and 3.

So far as I can see, with the exception of the HCL debate, chap 7 is it.

02/01/10Comments: 0Print E-mail MoreText Size A A AFRANKFURT-German truckmaker Daimler AG said Monday it has signed an agreementwith the Iraqi government to supply Mercedes-Benz trucks and equipmentfor truck assembly. Daimler, based in Stuttgart, said it willprovide complete trucks and truck kits, tools and equipment forassembly, as well as technical support in the deal with the Iraqi StateCompany for Automotive Industry. The company did not disclose financial details. The agreement is the result of a memorandum of understanding that Daimler signed with the Iraqi government in July 2008. InFebruary 2009, Daimler opened an office in Baghdad for determining themarket opportunities for trucks and buses in Iraq and coordinating thenegotiations for the partnership agreement. Daimler is the world's biggest truckmaker with brands including Mercedes-Benz, Freightliner and Mitsubishi-Fuso. Shares of Daimler were about a fifth of a percent higher at euro33.47 ($46.52) in Frankfurt morning trading.

Sinan Salaheddin, Associated Press Writer, On Sunday January 31, 2010, 9:48 am EST BAGHDAD (AP) -- A consortium grouping Russia's private oil giant Lukoil and Norway's Statoil ASA on Sunday signed a final deal to develop one of Iraq's biggest oil fields, capping an auction process key to the OPEC nation's plans to boost output and generate sorely needed reconstruction revenues. The deal on West Qurna Phase 2 field in southern Iraq is the last of the 10 fields that Iraq awarded last year during two international licensing rounds as it looked to revamp an oil sector battered by years of sanctions, neglect and, most recently, postwar violence and political bickering. The signing Sunday also offers some much-needed political capital for Iraqi officials as they head into elections in March determined to show that they are actively turning the country around following the turmoil and instability that has defined Iraqis' daily lives since the 2003 U.S.-led invasion to topple Saddam Hussein. "These contracts will bring in cash to Iraq, and move ahead plans to develop the infrastructure," said Oil Minister Hussain al-Shahristani, adding that these deals afforded Iraqis the chance to "look toward a bright future." Although it sits atop the world's third largest proven reserves of conventional crude, Iraq currently only produces about 2.5 million barrels per day -- a level still far below its pre-2003 war output. Officials say international companies like Lukoi and Statoil, which together won West Qurna Phase 2 in the December licensing round, are key to raising that output to over 12 million barrels per day in about six years. Such production -- viewed by analysts as unrealistic in that timeframe -- would rival Saudi Arabia's. The kingdom, seen as the de facto leader of the Organization of the Petroleum Exporting Countries, currently produces over 8 million barrels per day, but has an overall output capacity in excess of 12 million barrels per day. For the 15 international firms that won development rights in the various fields, the 20 year contracts were their first chance at access to Iraq since Saddam expelled foreign firms and nationalized the sector in the 1970s. Despite the tempting spoils, the auction results were mixed, with only 10 deals struck out of the 21 oil and gas fields offered during the two licensing rounds. Weighing on the process was the lack of a national oil law in Iraq, continued instability in the country and bickering between the central government in Baghdad and the Kurds in the north over final saw on the oil in that region. Iraqi officials say they have no plans to open the reserves for the foreseeable future and instead will focus on adding more reserves through new exploration. The fields which saw the most active bidding and interest were the least expensive to develop in the relatively stable, Shiite-dominated, south. In all, the fields awarded hold over half of Iraq's proven reserves. Under the agreements, the contracts can be extended for another five years. Instead of the more lucrative production sharing contracts, the companies will get a set amount for each barrel of oil they produce, with the compensation ranging from $1.9 to $6 per barrel. The payout reflects a number of variables, including the type of crude, the ease with which the fields can developed and security concerns in the area. West Qurna Phase 2 was a coup for Lukoil. With known reserves of 12.88 billion barrels, it was the biggest among the 15 fields offered during the last bidding round in December. Lukoil had been granted the development rights in 1997 by Saddam, only to see the $3.7 billion contract rescinded by the dictator five years later. The auctions, however, failed to attract many of the major players whose expertise analysts say is crucial to Iraq's development goals. Many of the fields went to state-run companies like Malaysia's Petronas while U.S. giant Exxon Mobil Corp. secured only one field and largely shunned other offerings. Iraq's first postwar oil deal went to China National Petroleum Corp. in 2008. The deal, which gave CNPC rights to develop a central field, was the first Saddam-era deal honored by the postwar government. Overall, the big winners were firms from Malaysia, China, Russia, Europe, Angola and two American companies. Topping the list is Petronas, which is leading a consortium and participating in three others. CNPC struck three deals while Royal Dutch Shell, Korea's Kogas and Angola's Sonangol nabbed two fields each. Of the American companies, Exxon Mobil is developing one field while Occidental is participating in a consortium to develop another field. Britain's BP PLC won the rights to develop the giant Rumailah field with CNPC.

I thought the Dinar was Iraqi......... lol

Just to clarify for those of you who WERE NOT THERE, religion, and GOD were NOT being discussed. A LINK to a post in the DV forums was posted that was for a prayer meeting to take place on a conference call. No one was preaching, no one was praying. Sunglass told BV that she was NOT ALLOWED to post a link in chat. BV asked when the rule was changed, and she was ignored, when she pressed for an answer she was kicked. It was unfair, and arbitrary, there was no rule violation. Later Sunglass said she was voting against a prayer meeting being posted about in the forum. Thems the FACTS of the situation, just so ya'll know.

Hello, Just invested a small amount myself. I keep up with the political world, but didn't know that individuals were being allowed to get in on this particular venture. Hope to learn a bit, and hope things go the way we all want them too.