Iraq Dinar Speculation

Stocks to buy on the Iraqi Stock Exchange

Want a tip? Here’s one – you should be invested in the ISX.

Want another tip? These are two stocks you should have: al-Mansour Hotel and Ashtar Hotel.

As of yesterday, Ashtar Hotel rose from ID31.200 to close at ID34.800 and al-Mansour Hotel’s shares rose from ID27.600 to close at ID33.100. These are two of the stocks that we are invested in, more will be released as our evaluations are completed. If you’d like to be updated on Iraq Stock tips and picks as soon as they are released, simply subscribe via email – the form is at the top right of the website. It’s free and your email address will never be shared.

-Dinar Speculation Team

In a major move today, Iraq Oil Ministry granted the Kurdish government a long awaited approval to export oil.

Officials from Kurdistan announced late last week that they would begin exporting oil on June 1 from it’s Tawke field via an Iraq-Turkey pipeline. This is an opportunity that has been denied to the Kurds by Iraq for a long time.

Kurdish Natural Resources Minister, Ashti Hawrami stated,

The revenue from this oil will go to the Iraqi People. This will increase Iraq’s export capacity.

The initial export rate is scheduled for 60,000 barrels per day (bpd), and another 40,000 bpd is planned to begin leaving by truck from another field (Taq Taq).

This is a significant occurrence in the long-running oil feud between Iraq’s minority Kurds and the Shi’ite Arab-led government in Baghdad. It is also part of a larger dispute over resources, land and power, which has hindered national energy legislation. Could this signal an upcoming landmark in the battle to pass the HCL?

Time will tell.

Oil minister asked to resign. Apparently he couldn’t answer some pretty important questions.

The member of the Integrity Committee in the Iraqi Council of Representatives Nasseef that high oil policy pursued by the Ministry of Oil is not known, adding that the oil minister was unable to answer questions from members of Parliament about the politics of oil.

وقالت نصيف في تصريح لراديو نوا ان اعضاء البرلمان طلبوا استقالة

Nassif said in a statement to Radio NOUAN that members of parliament asked for the resignation of the minister of oil in the host to the Council.

Look up… up… top right corner of this website. See the email updates box? It’s working now! Put your email in there and you’ll get updated when we post news here on the site.

Your email address will never be spammed, shared, or sold – period.

-Dinar Team.

Could Iraq take over and become the world’s top oil producer? With these new plans, Iraq is on track to eventually take over the top spot in the oil business.

At over 9 million barrels per day, Saudi Arabia is producing more oil than many countries could ever touch. Iraqi Minister of Petroleum Hussein al-Shahristani says that Iraq plans to increase its crude production from the present level of 2.4 million b/d to 6 million b/d, within the next five to six years. That’s over a 100% increase in a very short time.

Iraq plans to announce soon the selection of two foreign oil companies to develop six giant oil fields, with a production capacity of 1.5 million b/d.

A second set of licenses will be issued to oil companies to develop 10 additional oil fields, with a production capacity of 2 million b/d.

There remain 50 oil fields, which would need to be developed in order to make Iraq a leading producer of oil and gas in the world.

33 Universities participated in an International econnomic conference that wrapped up today. The two day meeting ended with many recommendations on how to develop the economic situation in Iraq, Dr Hakem Muhsen reported.

Iraqi Prime Minister Nouri al-Maliki met with French president Nicolas Sarkozy in Paris today to press the flesh and drum up some foreign investments for Iraq.

Read more.

(more…)