June 29, 2009
Hey all, Adam here! This could be kind of big, but our official Arabic translators are off the clock right now. If anyone has more information, please get in touch!
Full information page: http://dinarspeculation.com/did-you-know/article-7-is-iraq-out/
We haven’t confirmed this with any other sources, so it’s tough to get a good read on it… but the final paragraph in both translations we have read like this:
…Iraq is free from the terms of Chapter VII of the Charter of the United Nations and the resolutions of the Security Council unjust…
Any info is appreciated, let’s pool our knowledge!
June 25, 2009
Oil Minister Hussain Shahristani says that the coming foreign investments into Iraq will benefit Iraq 100 times more than the companies investing in the business.
Why is this bad? I don’t see how it can be – the investors are still making money, and Iraq is protecting it’s own best interests.
Shahristani:
“The model we chose is the one that best protects the interests of Iraq. The companies will be given a fee because these are fields that are already discovered and producing. Iraq is free to pay them in cash or pay them in oil, priced on the day of delivery.”
Iraq will be announcing contract winners for 20 oil and gas fields this coming June 29 and 30.
June 25, 2009
Stories come, stories go – but for those of us here for the ride, that’s just part of the daily ebb and flow.
You know the more people we have involved, the more information we have, and the better off we all are. Knowledge is power, and there is power in masses – let’s all join up! Adam started a facebook group, go ahead and join it. LINK.
June 22, 2009
According to Azzaman, a confidential source tells us that the parliament has given Central Bank authorization to issue treasury bills in an attempt to raise $2.4 billion. The money will be used to finance Electrisity contracts.
At current rates, $2.4 billion USD is about 2.8 trillion Iraqi Dinar. Cash is going to be raised in Iraqi Dinar and the Central bank will deposit the proceeds for the Electricity Ministry in dollars.
This move will also have another side benefit… as people buy treasury notes with IQD, the funds are going to be converted to USD and deposited for the Electricity Ministry. It’s obvious that this will suck a lot (2.8 Trillion Dinars worth) of currrent Iraqi paper currency off the streets (a side effect of that is a stronger dinar and curbed inflation), it’s also worth noting that this will give Central Bank of Iraq control of even more physical cash. A majority of this cash will be larger notes, which Dinar Investors hope will be phased out in the event of a revaluation of the currency.
June 20, 2009
Saudi Arabia, Kuwait, Qatar, and Bahrain are all pushing forward with the plan to use a common currency – the Gulf Dinar. While the GCC has not announced the forecasted value of the currency, we know that it will run in tandem with the current currencies for a few years to get people used to it. Current bills and coins will then be slowly removed from circulation over the next 4-5 years.
The GCC also has not set a value on it, but economics professor Wadei Ahmed Kably tells Dinar Speculation sources that he expects it to be set at SR10 (about US$2.66).
Quick info on the countries involved, as related to oil and natural gas.
June 19, 2009
There’s been a bunch of talk about the 2.5 hour meeting that took place yesterday (Security Counsel 6145th meeting, link). The page is pretty long, so here’s a summary of actions and what the representatives of the countries involved had to say.
Foreign Minister of Turkey, Ahmet Davutoğlu, read a statement reaffirming it’s commitment to Iraq and also reaffirmed its full support for the United Nations Assistance Mission for Iraq (UNAMI).
Departing UNAMI leader Staffan de Mistura says the last two years have been highly successful in changing the way Iraq is viewed and credits it to hard work on everyone’s part.
We have together helped to turn the page on how the Iraqis view us, the Organization, the international community and their leaders. And we have contributed to Iraq assuming a new standing among the world community as an increasingly stable and sovereign nation.
Iraq’s representative (HAMID AL-BAYATI) noted a marked decline in violence compared to last year (down 76%!), impressive turnouts for voting, and a major influx of people returning to Iraq. He outlined the upcoming elections in July 2009 and January of 2010… to which Turkey’s Foreign Affairs Minister, Mr. Davutoğlu said Iraq had
…a bright future that was now within reach. And, given what had been achieved in the past six years, there was reason for optimism.
US representative Susan Rice stated that Us will withdraw it’s combat troops from Iraqi cities, towns, and villages no later than the end of the month (June 2009), paving the way for ALL US troops to be out by 2011. The US will continue to build a strategic alliance with Iraq.
June 18, 2009
You have to love how politics work in Iraq.
A short time ago this month, Iraqi Oil Minister Hussain al-Sharistani said his ministry would not pay oil companies like Norway’s DNO International, Toronto-listed Addax Petroleum and Turkey’s Genel Enerji under any circumstances.
Ashti Hawrami will make sure oil companies get paid, Sharistani can stuff it.
However, Ashti Hawrami said today that Sharistani can basically stuff it, because he’s not in charge of those payments in the first place! Quotes:
Very simply … Shahristani is not in charge of money. The money does not go to the Oil Ministry, it goes to the Finance Ministry. It’s an academic comment, and he can make as many comments as he wishes
Also:
I’m confident they will be paid, I can guarantee it. That’s my simple answer. How we square that with the Finance Ministry and other people, that’s a different matter.
June 18, 2009
This is an interesting topic that has came up several times lately. Let’s take a second to discuss…
- There is no link at this time proving that the CBI has discussed anything of the sort.
- Since there is no link, we can only assume it is speculation.
- Since it’s speculation, it belongs here on Dinar Speculation!
Taking into account that we are here to speculate, please comment or email with your speculations on why or why not there will or will not be a lop, RV, reval, or whatever.
June 17, 2009
More oil = more revenue for Iraq, correct? More revenue equals… well, more revenue! I can’t imagine more money being a bad thing!
Test pumping is set to begin soon in the Nassiriya field, part of the al-Geteaa area that is about 380 km south of Baghdad. Expected output is 15,000 bpd – they will only be utilizing 3 of 5 wells in the field.
State run South Oil company director Dhiaa Jaafar states that production will begin in a few days.
June 14, 2009
Comments Off
Hey all, Adam here. If you have a facebook account, please add me there! You should also join the new facebook group “Dinar News” – here are the links.
Add me on facebook!
Join the Facebook Dinar News Group!