Posts Tagged ‘Oil reserves in Iraq’

MP calls for quick action to halt the rise in the dollar against the Iraqi dinar

Posted: May 14, 2013 in Iraqi Dinar/Politics
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Baghdadi News – 05/13/2013

Baghdad / Baghdadi news / .. Student member of the citizen’s Parliamentary Bloc MP Abdul-Hussein Abtan, on Monday, the competent authorities to take swift action to halt the rise in the dollar exchange rate.

He Abtan During Matmrsahfa held the parliament building and the presence of / Baghdadi news /, that “the high exchange rate of the dollar against the Iraqi dinar during the current period, taking the burden on private citizens and low-income earners because most of the goods offered in the Iraqi market are imported.” (more…)

Assem Jihad: oil press is an important factor to reflect what goes on oil and energy in Iraq

Posted: May 5, 2013 in Iraqi Dinar/Politics
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04-05-2013 02:16 PM

Baghdad (newsletter). Called spokesman Assem Jihad, the oil Ministry to the attention to press Iraq’s oil for delivery of information to the petroleum and energy sector to people that Iraq possessed large oil reserves.

Jihad said the Organization Internews about press coverage and was attended by Iraq’s oil (News Agency): that Iraqi crude after 2003 became the focus of attention of all the media or other organizations and States, due to its Iraq oil stocks estimated at 500 billion barrels, rising above the (150) billion barrels, saying those numbers are growing. (more…)

United Arab Emirates: Iraq will cover about 40% of the world’s oil needs during the next two decades

Posted: March 26, 2013 in Iraqi Dinar/Politics
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Editor: RS 26.03.2013 15:36

Term Press / Baghdad
Announced Crescent Petroleum Emirates, Tuesday, exceeded its investments in Iraq barrier $ 1.5 billion during the past five years, and as confirmed the presence of the potential for significant economic growth in Iraq due to rising oil production, which predicted that covers 40 percent of the needs of the world during the next two decades, called more reliance on UAE companies, which it said could “compete with foreign companies.” (more…)

IMF: the structure of the Iraqi economy is still at risk

Posted: March 24, 2013 in Iraqi Dinar/Politics
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International Monetary Fund

Published on Saturday, March 23 / ​​March 2013 11:37
The International Monetary Fund said on Saturday that Iraqi oil exports spurred economic growth, the Iraqi economic structure Mibaka Iraq in the circle of suspicion.

A statement by the International Monetary Fund got “obelisk”, a copy of which, following the conclusion of a comprehensive assessment of the Iraqi economy, “The structural economic Iraqi still suffer from weak seriously in the economic field and especially since the unemployment rate is high and the business climate bad as weaker non-oil sector.” (more…)

Iraqi Economy’s Huge Potential

Posted: February 10, 2013 in Iraqi Dinar/Politics
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09/02/2013
By Takema Sakamoto

Based on its rich natural resources and huge market potential, Iraq’s economic prospects seem promising.

Its population, currently 32 million, is forecasted to increase by over 3 percent annually, which will create a larger number of future consumers. Its gross national income (GNI) per capita, currently $2,640, is estimated to grow by around 10 percent per year on average. Spending power is expected to grow rapidly. (more…)

Economist: Iraq imports finance will increase over the next two years after opening the floating oil platforms and exploration of oil fields

Posted: December 21, 2012 in Iraqi Dinar/Politics
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Baghdad (newsletter) … Said economist Ismail Radi, Iraq imports increase finance over the next two years after the opening of floating oil platforms and other oil fields exploration, calling for the need to invest to projects serving the country.

He said content (for news News Agency): that Iraq suffers from underdeveloped infrastructure and poor services as a result of the lack of funds for investment projects and service to country in the general budget. (more…)

Center for Global Studies criticizes Iraq desire to borrow from the World Bank; Despite large oil revenue growth and stability poverty on the rise

Posted: December 20, 2012 in Iraqi Dinar/Politics
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12/20/2012

Criticized the “Global Center for Development Studies,” the Iraqi government’s desire to borrow $ 900 million from the World Bank, despite the continuous rise in Iraqi oil revenues during the recent period, which did not succeed in reducing the number of poor Iraqis whose numbers swelled to 8 million citizens. (more…)

Never enough: How much money does iraq really need for budget?

Posted: December 14, 2012 in Iraqi Dinar/Politics
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13.12.2012

Iraq’s 2013 budget amounts to US$118 billion. But the figures don’t add up. Doing the sums results in one conclusion: unless something is done differently, Iraq will face serious debt and development problems.

In late October, the Iraqi Cabinet, headed by Iraqi Prime Minister Nouri al-Maliki, approved the 2013 draft budget. The total amount approved was USD $118 billion, making for an US$18 billion increase on 2012’s budget and making the budget Iraq’s highest ever. The draft will eventually go to the Iraqi Parliament for ratification.

(more…)

Iraq and Kuwait overcome differences on joint oil fields

Posted: December 8, 2012 in Iraqi Dinar/Politics
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Iraq and Kuwait agree on not Leaning drilling in 13 joint oil wells
Economic dinars Agency – 12/08/2012 – 6:03 pm

BAGHDAD / JD / .. Iraq signed with Kuwait bilateral agreements to overcome the outstanding problems regarding the joint oil fields, both parties not to abuse exploitation of oil and drained through technical deprive a country at the expense of another. (more…)

Kuwait has received $35 billion in compensation

Posted: December 1, 2012 in Iraqi Dinar/Politics
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Baghdad (newsletter) … Announced the decision of the Commission on economy and investment Deputy from the Kurdish Coalition bloc//mohama Khalil, subtract more than (5) billion dollars of oil revenues to pay off foreign debt, noting that Kuwait received so far (35) billion dollars in financial compensation. (more…)

British expert: Iraq will become active and influential force in the world oil markets

Posted: November 23, 2012 in Iraqi Dinar/Politics
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Posted 21/11/2012 05:44 PM

Baghdad / follow Mashreq: – predicted oil expert British and director of the Center (Open Oil) global specialist in the oil industry Johnny West, that Iraq will become a powerful force and influential in world oil markets when being able to increase its oil production to (6) million barrels in (2020 ).

West said in an interview expanded with the Agency (news): There are many challenges stand in front of the oil industry in Iraq has made ​​the growth of oil production is slow, including the security situation and poor infrastructure for some oil fields, in addition to the status of Iraq in OPEC made ​​some of its members fear the vulnerability of increased Iraqi production on world oil prices. (more…)

Iraq could become the second largest oil exporter in the world

Posted: November 11, 2012 in Iraqi Dinar/Politics
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 translation Abdul Khaliq Ali said the International Energy Agency that Iraq will soon be responsible for half of the projected global production of oil, and one study revealed that Iraq could become the second-largest oil exporter, over two decades and double production by 2020.

And the agency said Iraq could exceed Russian exports, but the Iraqi government must overcome internal differences with the Kurdistan region over oil rights and to increase the current investment of $ 9 billion in 2011 to $ 25 billion a year on average for the rest of the decade. (more…)

The compensation committee of the invasion of Kuwait gives $1billion dollars for five people

Posted: October 28, 2012 in Iraqi Dinar/Politics
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Geneva / follow-up term

Adopted a UN commission, based on the settlement of compensation claims by victims of the Iraqi invasion of Kuwait in 1990, the amount of $ 1.09 billion for the five victims.

financing Compensation Commission of the United Nations and the Geneva-based taxes increase of five percent of Iraqi oil exports. (more…)

A sum of money to each family of the oil revenues starting next year

Posted: September 29, 2012 in Iraqi Dinar/Politics
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House of Representatives yesterday announced for initiating delivery of payments as a share of Iraqi oil for every home from the beginning of next year. (more…)

Expert economist: Iraqi oil plays a pivotal role in the global economy recovers

Posted: September 18, 2012 in Iraqi Dinar/Politics
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Said the agency’s chief economist Fatih Birol, the International Energy said that “Iraqi oil plays a pivotal role in the global economy recovers.

He added in an interview that “any unexpected slowdown in oil production will have a significant negative impact of the global economy.” (more…)

Iraqi oil exports rise to 2.565 million barrels per day in August

Posted: September 1, 2012 in Iraqi Dinar/Politics
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Prime Iraqi Oil Marketing Company (SOMO) that “oil exports rose to 2.565 million barrels per day on average, during August, compared with 2.516 million barrels a day last July.

Said Chief Sumo Falah al-Amiri said that “exports from Basra in the south reached 2.252 million barrels per day, while North recorded shipments of Kirkuk, 313 thousand barrels per day, including about six thousand barrels a day trucked to Jordan

http://bit.ly/Pzd0FJ

Chuird: Iraqi economy needs leaders to compete for a better economic policy rather participate in political rivalries

Posted: August 22, 2012 in Iraqi Dinar/Politics
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Said the leadership of the Iraqi List, Hassan Khudair Chuird, Wednesday, on the need for the Iraqi economy to what b described as “courageous stand” for the advancement of the incident instead of going into political bickering. (more…)

Member of Finance Committee: Iraq has paid only 20% of Kuwaiti debt; Will continue until 2017

Posted: August 7, 2012 in Iraqi Dinar/Politics
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Date: 2012-08-07 13: 46: 51 Tuesday

Baghdad (News) …As a member of the Finance Committee of the Iraqi coalition Deputy from//Ahmad tracks, compensation paid by Iraq to Kuwait only 20% and Iraq will continue to be pay for over five consecutive years. (more…)

Expert: Iraq will be the most developed countries in the global oil economy

Posted: July 29, 2012 in Iraqi Dinar/Politics, Top Headlines
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07/26/2012 0:00

Stated that alternative energy can not compensate for the needs of the oil during the next fifty years

Said Academy specializes affairs oil that opening up the technological world is witnessing led to be the economics of oil and gas, the cornerstone of the growth processes of producing countries, stressing that this concept is to make the oil markets, the upper hand in the organization of economic policy for the various joints, advanced industrial countries, and while he believes that the stage the current through which Iraq require more strategic planning, stressed the need to find a tool or a driving force for the advancement of economic destruction, saying that oil is the most prominent of those tools and the driving means toward economic transformation towards achieving progress in sustainable development rates in the country. (more…)

Iraq will be producing 10 million barrels of oil per day in 2017

Posted: July 28, 2012 in Iraqi Dinar/Politics
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International Tribune:

28/07/2012

BAGHDAD / JD / .. newspaper International Herald Tribune reported that Iraq will produce 10 million barrels of oil per day by 2017,

the newspaper said in its report: Despite the violence and political conflicts taking place from time to time in Iraq, but the production of oil steadily increases to a a glimmer of hope for the future of the state and a breakthrough for global oil markets at a time of stress when the West sanctions on Iranian exports. (more…)

Editorial: Iraq will be the most developed countries in the global oil economy

Posted: July 26, 2012 in Iraqi Dinar/Politics
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Posted 26/07/2012 10:35 AM

Babinaoz (Reuters) – said Academy specializes affairs of the oil that opening up the technological world is witnessing led to be the economics of oil and gas, the cornerstone of the growth processes of producing countries, stressing that this concept is to make the oil markets, the upper hand in the organization of economic policy for the various joints, advanced industrial countries, and with He sees that the current through which Iraq required more strategic planning, stressed the need to find a tool or a driving force for the advancement of economic destruction, saying that oil is the most prominent of those tools and the driving means toward economic transformation towards achieving progress in sustainable development rates in the country. (more…)

Legal Expert: No resolution requires Iraq to pay Iran compensation; Kuwait is a requirement

Posted: July 20, 2012 in Iraqi Dinar/Politics, Top Headlines
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Thursday, July 19, 2012 17:47

Said the legal expert Tareq war he “did not issue any decision of the UN Security Council to compel Iraq to pay reparations to Iran for the Iran-Iraq war compared to the situation where the Kuwait issued several resolutions of the UN Security Council required Iraq to pay reparations.” (more…)

MPs’ delegation to report Erbil’s view over oil and gas dispute

Posted: July 19, 2012 in Iraqi Dinar/Politics
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19/07/2012 09:09
ERBIL, July 19 (AKnews)- A delegation from the oil and gas committee at Iraqi House of Representatives which is now in Kurdistan will report to Baghdad the opinion of Erbil government over oil and gas dispute, a delegation member said.

The delegation arrived in Erbil on Tuesday. (more…)

Economic researcher: Iraq will take control of future oil prices

Posted: May 18, 2012 in Iraqi Dinar/Politics
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Date: Friday, 18-05-2012 08: 52 am

Baghdad (newsletter) … Economic researcher predicted mutations star’s quality in oil and energy in Iraq for his large oil reserves, noting that Iraq will take control of oil prices in the future.

He said Star (News News Agency): there is a strong desire by oil-consuming countries, to buy Iraqi oil, with its advantages of high quality oil in Basra in particular established which began producing oil light type, in addition to processing operations more accessible to global markets. (more…)

New steps must be taken to increase the value of Iraqi oil on the world market

Posted: May 13, 2012 in Iraqi Dinar/Politics
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Date: Sunday, 13-05-2012 10: 04 am

Baghdad (newsletter) … Hisham AMR, oil expert proposed new steps to increase the value and Iraqi oil production, even take its place that it deserves in the world markets. (more…)

Member of parliamentary finance: Decision to extend the protection of Iraq’s money abroad is subject to a decision of the Obama and expect its release

Posted: April 22, 2012 in Iraqi Dinar/Politics
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Sunday, April 22 / April 2012 13:20

A member of the parliamentary finance committee that the protection of Iraqi funds in the United States subject to a decision of U.S. President Barack Obama.

A member of the Committee Haitham Jubouri told all of Iraq [where] that “the funds of the Iraqi people abroad are protected by several decisions and now there are committees formed in this regard after the money for international protection and those Committees Iraqi Supervisor of the Development Fund for Iraq [DFI] and we are betting on the decision of U.S. President Barack Obama on the liquidation of debt, especially after the conclusion of the strategic framework agreement between the two countries in 2008. ” (more…)

Former oil Minister: Oil sector faces challenges due to poor infrastructure, lack of oil and gas (HCL) legislation

Posted: April 17, 2012 in Iraqi Dinar/Politics
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Date: Tuesday, 17-04-2012 12: 05 pm

Baghdad (newsletter) … Former oil Minister Ibrahim Bahr Al-Ulum to rehabilitate oil facilities for export and storage systems to accommodate the planned amount of production and export of oil in the future, adding that highlighted the challenges facing the oil sector, poor infrastructure and lack of oil and gas Act legislation. (more…)

Published the most articles of the oil law submitted by the Council of Ministers

Posted: April 13, 2012 in Iraqi Dinar/Politics
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10/04/2012 0:00

published the “morning” the most prominent articles of the law new oil and gas provided by the Council of Ministers, scheduled to be debated and passed by Parliament during the next term. According to a copy obtained by the “morning”, the most prominent of these articles are:

Article 2: The purpose of this law to the following: – (more…)

Advisor to PM Maliki: Most of the money and Iraqi oil revenues are deposited in U.S. banks

Posted: March 5, 2012 in Iraqi Dinar/Politics, Top Headlines
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04/03/2012 14:12:00

The Iraqi News Agency Independent / Baghdad / follow-up … He adviser to Prime Minister Mohammed Fadhil that most of the money and Iraqi oil revenues are deposited in the U.S. central bank, adding that Iraq needs to renew the protection for these funds in order not to allow any company booking them.

Mohammed said through a press statement transferred reporter (news agency the Iraqi Independent) that the money and revenue reserves, whether the Iraqi central bank money or property caused by the Iraqi government export oil now exist in America by 90% or more (more…)

GOI warns further delays in approval of 2012 budget could push approval until end of February

Posted: February 18, 2012 in Iraqi Dinar/Politics
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The Iraqi government warns of the continued delay in approving the budget until the end of the month

Baghdad, February 18 (Rn) – warned the Iraqi government continued to disable approval of the budget in 2012 emphasizing the need for parties agreed during the current month.

The value of the budget in 2012 that approved by the government in the 5 of December / Dissembrmen last year, $ 100 billion, and a deficit of up to $ 13.5 billion, and focused on the energy sector and the oil phase of the first, and then the security sector, and then the education sector, education and health. (more…)

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