confirmed the Commission on oil and energy parliamentary, it’s the process of an amendment the second law on private investment in the field of oil to encourage domestic and foreign companies to invest in the oil sector.

8-15-2013 Eagle1:    The VND has been on a program rate for almost the past 50 years (instituted in 1963 or 1964), however the Basel III protocol will change that; VND has much oil and gold asset, …hearing a $0.47 rate, but…also hearing numbers much higher; the opinion is that $0.47 is a good base rate.

Poster’s Note: The writer is a well established columnist writing primarily for this paper.

l Maliki: Disastrous results of not taking responsibility

If the prime minister has evidence that neighbouring countries are sponsoring terrorism in Iraq, he must take them to task in an international court of law

  • By Mohammad Akef Jamal | Special to Gulf News Published: 17:18 August 16, 2013

The yawning gaps in Iraq’s national security strategy were exposed last week following a series of bomb blasts, assassinations and forced displacement in a number of governorates.
This security collapse has surpassed the horrific incidents in Iraq after the US invasion. It also gives the impression that whoever is carrying out these terrorist acts is free to do so and that no force is standing in its way.
The security failure reached its peak when hundreds of Al Qaida militants and leaders escaped from Abu Ghraib and Taji prisons in Baghdad. That the prison breaks were carried out by militants clearly better trained than the government forces is a moot point. The Iraqi government only seems to be worried about the safety and security of the Green Zone.
The prison break was a major event, which may well tempt Hollywood to make a film about the event, on the same lines as another movie that was made about a jail break that took place in Nazi Germany during the Second World War.
Unfortunately, Iraq has returned to the civil war era of 2006-07. During Ramadan alone, more than a 1,000 people were killed and many more were injured in the central and southern parts of Iraq. Iraqis witnessed further devastation during Eid when simultaneous suicide attacks involving several cars took place on the last day of the festivities.
The Kirkuk governing council’s desperation and lack of confidence in the government’s ability to protect its people prompted it to take emergency measures and dig a trench around the city. The project seeks to prevent terrorists from driving in booby-trapped vehicles, stolen cars or unlicensed cars that are usually used in bomb blasts in crowded areas.
The trench project has further deepened the animosity between Arabs and Kurds in Kirkuk. The Arabs are not keen on digging the trench because they perceive it as a move to achieve certain political goals towards linking the governorate to the Kurdish province.
There are also disagreements between those who talk about a ‘security collapse’ and others who have reservations regarding the use of this term.
However, Prime Minister Nouri Al Maliki’s statement on the subject is interesting.
On August 2, Al Maliki said during talks with security and military commanders that the latest security breach cannot be regarded as a collapse. He also warned that neighbouring countries are “ruining” Iraq and the region and will eventually have to swallow their own poison.
Now, I am not here to assess the government’s credibility, although many will agree with me that honesty and transparency are not among its merits.
Moreover, the government misleads Iraqis through its statements because it is not competent enough to produce or implement successful solutions to the problems created through its dismal agendas, which do not pertain to Iraq in the first place. It does not have the courage to accept this truth.
I will leave it to the security experts to judge whether Iraq is facing a security collapse.
The Iraqi government, however, has failed in doing its political duty. Political failure means failure at all levels, including security. But Al Maliki does not want to look at failure from this perspective although many of his allies in the National Alliance disagree with him. He tries to justify his policies through blame and threats.
In a meeting with political and economic experts, Al Maliki hurled accusations at allies in different political blocs, such as the Al Muwatin Bloc headed by Ammar Al Hakim and the Sadrist movement headed by Muqtada Al Sadr. He also accused some of his ministers of being responsible for the deteriorating security situation. He forgot that as the prime minister, he shoulders the most responsibility.
Additionally, when Al Maliki accuses neighbouring countries of sponsoring terrorism in Iraq, he is only embarrassing himself. He ends up in a very awkward position because he becomes obliged to reveal the names of these countries — and bolster his accusations with proof. He also needs to tell his people how his government is dealing with these countries.
Iraqis have a right to know their real enemies and the government has no business hiding the truth.
If what Al Maliki is saying is true and he has evidence against countries sponsoring terrorism in Iraq, then he has a national and moral obligation to challenge these countries in an international court of law and the UN Security Council.
But the truth lies elsewhere. If we were to accuse those who destroyed Iraq, encouraged corruption, sectarianism, forgery, armed militias, and the killing of highly-qualified Iraqis, we will not find any group more liable than the Green Zone group, along with its establishments and institutions.
I say this because it is simply inconceivable that all these terrorist acts take place without the backing of groups and entities inside the Iraqi state and security establishment.
The situation in Iraq has become a nightmare and fixing it must start from the political rank and file.
Dr Mohammad Akef Jamal is an Iraqi writer based in Dubai. http://gulfnews.com/opinions/columni…lity-1.1221042

8-15-2013 Kaperoni:    Article: “Parliamentary Finance reveal postpone the deletion of zeros until after parliamentary elections”

You can only put off the currency and banking reforms so long. The laws are now getting close to be passed (this or the next session) it appears that set the laws for the free market economy. The currency and banking system play a key roll in that they become the conduit from Iraq to the world. This must occur for it to succeed. IMO, the CBI will accept Article VIII once the laws are passed in fairly short order.

 

By John Lee.

Reuters reports that Iraq is still undecided about whether to carry out full maintenance on its Basra oil export terminals in September.

According to the report this has created even more uncertainty for an oil market already worried about disruption in Libya and Egyptian unrest.

Despite a report in July to the effect that rehabilitation and maintenance work at Gulf ports could reduce Iraqi exports by 400,000-500,000 barrels per day (bpd), a Reuters source said the oil ministry is still trying to draw up a plan for carrying out the work without affecting exports from Basra.

The potential reduction in September has been one of the factors underpinning international oil prices, fuelling concern refineries will be left empty handed.

The International Energy Agency (IEA) said the maintenance could slash imports for months, not just in September, fueling concerns of prolonged disruptions to world oil supplies.

(Source: )

By John Lee.

Shares in Gulf Keystone Petroleum (GKP) have gained around 10 percent this week on rumours of a takeover.

Bloomberg reports that, as the world’s biggest oil companies look for untapped fields, the company is sitting on a giant oil field in Iraqi Kurdistan that wouldn’t look out of place in a major’s portfolio.

With the KRG completing a pipeline for direct crude exports to Turkey by the end of the year, exports could be set to boom.

Chief Executive Todd Kozel (pictured), told Bloomberg:

Exports are what we’ve been waiting for since 2007, so the pipeline is very big and instrumental for a company like Gulf Keystone.

But added:

We are a public company, and consolidation is the next phase in Kurdistan. But that’s not in our plans now.

(Source: Bloomberg)

By John Lee.

Reliance Industries Chairman, Mukesh Ambani (pictured), has told reporters that his company is exploring investment opportunities in Iraq.

We are evaluating all opportunities in the Iraqi oil and gas sector. But so far, nothing has been finalised and we will take a call on this — both the downstream and upstream assets — in Iraq by the end of the year,” Ambani said.

He was categorical in saying that his company has no plans to enter the mid-stream sector in Iraq.

According to a report from the Economic Times, Iraqi Deputy Prime Minister for Energy Hussain al-Shahristani called upon Indian investors, including Reliance Industries, to invest in the construction of export outlets, pipelines connecting oilfields with export terminals as well as tank farms to increase storage capacity.

He said Iraq is open to joint ventures by Indian and Iraqi companies in the oil and gas sector as the Gulf country seeks to become a petrochemical hub.

(Source: The Economic Times)

The Governments of the Republic of Iraq and the United States of America reaffirmed their strategic partnership during a meeting of the Political and Diplomatic Joint Coordination Committee (JCC) on August 15, in Washington, DC.

This meeting, held at the Department of State, was co-chaired by Secretary Kerry and Iraqi Foreign Minister Hoshyar Zebari. This is the fourth meeting of the Political and Diplomatic JCC since it was established by the 2008 Strategic Framework Agreement (SFA) to strengthen the U.S.-Iraq bilateral and strategic partnership.

The United States offered its full support for Iraq’s efforts to strengthen ties within the region. Since the last meeting of this JCC, Iraq and Kuwait made impressive strides before the United Nations, resumed commercial flights between Kuwait City and Baghdad, and completed maintenance of the border pillars along their shared border. The United States was proud to support these diplomatic achievements, which required difficult decisions on both the Iraqi and Kuwaiti sides and have contributed to regional peace and stability.

The United States further reiterated its strong support for Iraq’s efforts to increase and deepen dialogue with other regional partners, and emphasized the importance of working together to bolster moderate forces and isolate extremists in the region. The United States also congratulated Iraq on the strong participation by Iraqi Security Forces in joint regional military exercises, such as the recently completed Eager Lion exercise in Jordan. The United States further affirmed its strong commitment to help the Government of Iraq defeat al Qaeda and other terrorist groups that continue to threaten Iraq and the entire Middle East region.

During the meeting, the delegations discussed international efforts to address the ongoing crisis in Syria and explored areas of potential cooperation, particularly on humanitarian issues and consultation on border security to prevent the infiltration of terrorist groups into Iraq. Both sides affirmed their commitment to a Syrian-led political transition leading to a pluralistic political system representing the will of the Syrian people. The United States emphasized the importance of providing refuge and services to those fleeing the violence in Syria. The Iraqi side further reiterated its commitment to deter the transit of weapons through its territory and welcomed in this regard the recent notification to the U.S. Congress of the potential Iraqi purchase of an integrated air defense system to fully protect its sovereign airspace.

The Governments of the Republic of Iraq and the United States of America reaffirmed their strategic partnership during a meeting of the Political and Diplomatic Joint Coordination Committee (JCC) on August 15, in Washington, DC.
This meeting, held at the Department of State, was co-chaired by Secretary Kerry and Iraqi Foreign Minister Hoshyar Zebari. This is the fourth meeting of the Political and Diplomatic JCC since it was established by the 2008 Strategic Framework Agreement (SFA) to strengthen the U.S.-Iraq bilateral and strategic partnership.
The United States offered its full support for Iraq’s efforts to strengthen ties within the region. Since the last meeting of this JCC, Iraq and Kuwait made impressive strides before the United Nations, resumed commercial flights between Kuwait City and Baghdad, and completed maintenance of the border pillars along their shared border. The United States was proud to support these diplomatic achievements, which required difficult decisions on both the Iraqi and Kuwaiti sides and have contributed to regional peace and stability.
The United States further reiterated its strong support for Iraq’s efforts to increase and deepen dialogue with other regional partners, and emphasized the importance of working together to bolster moderate forces and isolate extremists in the region. The United States also congratulated Iraq on the strong participation by Iraqi Security Forces in joint regional military exercises, such as the recently completed Eager Lion exercise in Jordan. The United States further affirmed its strong commitment to help the Government of Iraq defeat al Qaeda and other terrorist groups that continue to threaten Iraq and the entire Middle East region.
During the meeting, the delegations discussed international efforts to address the ongoing crisis in Syria and explored areas of potential cooperation, particularly on humanitarian issues and consultation on border security to prevent the infiltration of terrorist groups into Iraq. Both sides affirmed their commitment to a Syrian-led political transition leading to a pluralistic political system representing the will of the Syrian people. The United States emphasized the importance of providing refuge and services to those fleeing the violence in Syria. The Iraqi side further reiterated its commitment to deter the transit of weapons through its territory and welcomed in this regard the recent notification to the U.S. Congress of the potential Iraqi purchase of an integrated air defense system to fully protect its sovereign airspace.

Source: Iraq-BusinessNews.com.

Post your commentary below.

By John Lee.
Reuters reports that Iraq is still undecided about whether to carry out full maintenance on its Basra oil export terminals in September.
According to the report this has created even more uncertainty for an oil market already worried about disruption in Libya and Egyptian unrest.
Despite a report in July to the effect that rehabilitation and maintenance work at Gulf ports could reduce Iraqi exports by 400,000-500,000 barrels per day (bpd), a Reuters source said the oil ministry is still trying to draw up a plan for carrying out the work without affecting exports from Basra.
The potential reduction in September has been one of the factors underpinning international oil prices, fuelling concern refineries will be left empty handed.
The International Energy Agency (IEA) said the maintenance could slash imports for months, not just in September, fueling concerns of prolonged disruptions to world oil supplies.
(Source: )

Source: Iraq-BusinessNews.com.

Post your commentary below.