Kurdish Oil Deal Shocks Iraq's Political Leaders

[farquar]

A Norwegian company begins drilling in the north without approval from Baghdad. http://www.latimes.com/news/nationworld/world/la-fg-oildeal1dec01,0,4057840.story?coll=la-home-headlines

[BRYAN]

The Kurds want to experience the oil export profits and reap the rewards and to help rebuild their economy now!!!

Can you blame them for wanting a better quality life , that can be brought to them from exporting what has been under them for centuries....

I feel that more oil wells should be developed evenly across Iraq as so every sector can experience the wealth that is due to the all the Iraqi people thru the oil exports revenues ....

[stephen]

It looks like this coould be where the Kurd's start to get a little antsy! Maybe a revalue would calm them down and bring the factions together to work on these venture jointly. Very interesting indeed!


...more likely another step toward a civil war.

[JJLL]

...more likely another step toward a civil war.

same thoughts here :no:

[wherbie]

the kurds got their stuff together...I dont think the Sunnis want to fool with them....

[dxbboy]

This may lead to civil war ... kurds already taking 17% of the Iraqi budget which is their percentage in Iraqi population.

This hasty action can be explained either they are looking for more of their share in the whole iraq wealth. Or they are going to use this money for purchasing weapons!

[Lux]

keywords: without approval

I don't like the looks of this BUT maybe it pressures the incoming gov't to move quickly and not drag it's feet.

[myranchretirement]

A Norwegian company begins drilling in the north without approval from Baghdad. http://www.latimes.com/news/nationworld/world/la-fg-oildeal1dec01,0,4057840.story?coll=la-home-headlines


THEY may have the right to do this barring what it states in the constitution.


Hey look. Oil exports are up

Iraq exports about 2 million barrels of oil a day, according to the International Energy Agency in Paris.

[MunnyBaggs]

Civil war??? Come on people. That's quite a leap to jump to. I say it's great news. Why should the Kurds wait? Let's get this thing jumping and pumping. The rest of Iraq will catch up with them in due time. Get that liquid gold flowing and the economy will be like a snowball starting off down a steep mountain. Bigger and better at the end.........:D

[bahma]

The main point here is whether or not the Kurds agree to share.

[MunnyBaggs]

The main point here is whether or not the Kurds agree to share.

They already have. 20% of the Shiite and Kurd oil revenues will be headed to the Sunnies. Since the Sunni population is around 20% of the total Iraq, that is a very fair number. Not only that, but it is a rich number that will maintain and increase the Sunni wealth base IF DISTRIBUTED AND PROPERLY INVESTED IN THE SUNNI AREAS!!!!

[bert]

munny-what i think they are po'd about is that this is a new oil drill.all shared oil with the sunni's is from old oil drills already in the ground.what they are wondering is will they share the new oil .const states only what was already in the ground,not new drills.loop hole kurds are useing.nobody is sure what is going to happen with that .but sunni and shiite are together on this.oil is lowest 1.21b a day,from before 2003.

[JASONTL]

Personally, I think it is a good thing. The Kurds have been trying to prosper for a long time. Their area is diverse with many types of people. They see what rewards can come if they work together, and it is working and working fast. I may be gereralizing a little but they are far ahead of the rest of Iraq and I see no reason to try to slow them down. Make the rest of Iraq keep up and use Kurdistan as the model. "Without Permission", oh well. Maybe if Baghdad would get their hands out of their pockets they would be more involved. JMHO

[tbdinarcad]

I agree with Jason. Someone needs to start pushing everyone to thing about the future and all the possibilities of becoming self supportative.

[myranchretirement]

I agree with Jason. Someone needs to start pushing everyone to thing about the future and all the possibilities of becoming self supportative.


I think this is what they are doing and I'm beginning to think Talabani is behind it. Kind of a push in the right direction if you will. Anyone hear Talabani verbally slap them for doing this? I have not.

[myranchretirement]

I was discussing this with a freind today.

I came to the conclusion that it was an attempt to speed up the government by inducing scare tactics in order for them to get it done as fast as possible.

Lets hope that it works.


Interesting. You and I found common ground on something. I'm scared now. (Just joking):drunk:

If one looks at it from a political ploy, it makes sense Talabani would be behind this.

[myranchretirement]

Lol.

Now im racking my brain to try to deduce what their trying to speed through.

(Apart from the reval etc).

If Talabani does get discovered with this ploy hes gonna be out of the running in the election.

I dont think the iraqi people will take kindly to sneaky business.

Quite a risk eh?


Maybe and maybe not. I think his secret (if that is what he is doing) is well protected. The Kurdish stick together like glue if it benefits them. This benefits them. However, you are correct in that if he is found out it's all over for him politically.

[MunnyBaggs]

I was discussing this with a freind today.

I came to the conclusion that it was an attempt to speed up the government by inducing scare tactics in order for them to get it done as fast as possible.

Lets hope that it works.

I don't really think it is "scare tactics". More like "hey, let's get this show on the road" type tactics. I see nothing but good in developing the wealth. Especially if it's at a faster pace than normal for Iraq. The whole thing is a work in progress. Every step forward is a good one no matter how big or small.:)

[icarusII]

I don't really think it is "scare tactics". More like "hey, let's get this show on the road" type tactics. I see nothing but good in developing the wealth. Especially if it's at a faster pace than normal for Iraq. The whole thing is a work in progress. Every step forward is a good one no matter how big or small.:)
Munny........I agree with the "get this show on the road" methods. As I research more in the Kurdish areas, I realize these people have it going their way. While Baghdad and other areas struggle with religious ideology and security, the Kurds are signing "free market" economic contracts and moving forward in most areas of their economy.
They also have developed a 5 year rolling investment plan in all the major sectors of their economy. This was outlined in 2004........ahead of the Iraqi transition government.
As far as the possibility of civil war? I really can't see it for one major reason. The Kurds were adamant about the inclusion of future negotiation for Kurdish cities in the constitution. These negotiations must be resolved by 2007. I believe its a foregone conclusion that Talabani will hold a susbstantial position in the new government..........this will only help the Kurdish interest.
http://www.kurdistancorporation.com/index.htm


Just my take,
Icarus

[JASONTL]

It said that the Tawke number 1 well, spudded on November 28, had found oil in a first prospective reservoir at a depth of 350 metres. It said that the oil was similar to oil found in other similar reservoirs in Northern Iraq.

http://www.tradearabia.com/tanews/newsdetails_snOGN_article98240.html

The operation is controversial because the agreement does not involve Iraq's formative central government.

The 24º gravity oil was circulated out and flared.

DNO plans to drill the full reservoir section, which the company believes could be 800 m thick, and conduct wireline logs. DNO is the operator with 40% interest.

http://ogj.pennnet.com/articles/article_display.cfm?Section=ONART&C=ExplD&ARTICLE_ID=244360&p=7

[cloaked]

...more likely another step toward a civil war.

precisely my thoughts! ouch! :crying:

[onenomad]

below is something I found while looking for info any thoughts?

The Iraqi Dinar Future Investment Prospects


Every second person Tom Dick and Harry right from uneducated cooks, waiters, taxi drivers, masons, carpenters, house wifes and you name them through out the world talking seriously to invest in Iraqi Dinar.

Now what is the future prospects in investing in Iraqi Dinar ??

This is a BIG QUESTION for the very reason that there are multiple factors involved, where the future value of new Iraqi Dinar drifts North or South, economist and mathematicians may jointly come up to design a differential equation with multiple variables projecting the future value of Iraqi Dinar.

Out of these multiple variables three variable are very important:
(a) The time factor
(b) The number of notes in circulation.
(c) The number of currency notes printed

Every prospective investor gives example of Kuwaiti Dinar appreciation.
Kuwaiti Dinar and Iraqi Dinar have two different stories, relating to the three variable mentioned here above.

AA) In 1990 after the invasion of Kuwait by Iraq Kuwaiti Dinar plunged almost as low as
around US 1 cent, after the return of Kingdom what happened

(1) The New currency was printed which replaced the Old Currency notes
(2) The Time Factor: The Kingdom return home in a very short time
(3) The number of Currency Notes in Circulation: During this short transition time period there was no printing of Old Kuwaiti currency notes, which would cause inflation
(4) The Old currency notes were replaced by equivalent New currency notes, the new currency notes in circulation remained the same as they were before the invasion of Kuwait by Iraq in 1990.
(5) On return of Kingdom, Kuwaiti Dinar re-gained its value as it was before the invasion.

This is not in the case of Iraqi Dinar, let see,
BB)
(1) The Time Factor: From 1990 to until Fall of Saddam Empire it is almost 12 years.

(2) During this long time period un-accounted large number of currency notes were printed, caused inflation, resulting in devaluation of Iraqi Dinar where it stands today.

(3) The New Iraqi Dinar has only replaced by the Old Iraqi currency notes, hence the number of currency notes in circulation remains the same in trillions created by the out going Saddam.

In light of above presentation, do not see any future prospects of investors in Iraqi Dinar, can possibly look forward for any appreciations in Iraqi Dinar value, unless notes in circulation are reduced.

In the region three countries changed their currency:
(1) Kuwait
(2) Afghanistan
(3) Iraq

In the process of change of currency of Afghani three zeros were deleted, thinking that this may revalue the Afghani, the Afghanistan currency did not revalued, only thing happened the consumer buyer now carries few currency notes instead of huge bundles of notes, otherwise the Afghani currency value in terms of U.S.Dollars other currencies stands were it was.

[Tyreds Tale]

Onenomad, what is the link for that opinion?

[Sporter]

A Norwegian company begins drilling in the north without approval from Baghdad. http://www.latimes.com/news/nationworld/world/la-fg-oildeal1dec01,0,4057840.story?coll=la-home-headlines

Iraq halts deals with Denmark, Norway

http://www.theaustralian.news.com.au/common/story_page/0,5744,18053363%255E23109,00.html

Now what a problem we have on our hands!. I would assume that another mans or womans faith is nothing to joke about.

[REITman]

Iraq halts deals with Denmark, Norway

http://www.theaustralian.news.com.au/common/story_page/0,5744,18053363%255E23109,00.html

Now what a problem we have on our hands!. I would assume that another mans or womans faith is nothing to joke about.

My guess is this is just symbolic. I wouldn't get to worried about it.