Iraq Reconstruction News 28 February 2007

Iraq Reconstruction News
28 February 2007


1. Iraq's Cabinet Backs Contentious Oil Measure -- BAGHDAD, Feb. 26 -- Iraq's cabinet approved draft legislation Monday that would enable the government to manage the country's vast oil resources and distribute revenue throughout the country, a step toward meeting a U.S. demand that the country's parliament pass such a law. http://www.washingtonpost.com/wp-dyn/content/article/2007/02/26/AR2007022600161.html

2. Turkey readying for oil search in northern Iraq - ANKARA – Turkish Daily News. As the Turkish government is debating whether to establish dialogue with the Iraqi Kurdish leaders, Energy Minister Hilmi Güler said Turkey would be sitting at the negotiating table next month with the United States and the central Iraqi government in order to explore oil in oil-rich northern Iraq. http://www.turkishdailynews.com.tr/article.php?enewsid=67194

3. An Iraqi oil law? It would be a big step forward if Iraq actually approved and carried out long-promised and never-delivered legislation equitably sharing the nation's oil revenues among all Iraqis. Unfortunately, the draft oil agreement approved by Iraq's cabinet on Monday is still a long way from that. http://www.iht.com/articles/2007/02/28/opinion/ediraq.php

4. The Decline of the Iraqi Oil Sector - Al-Hayat - When the US army entered Iraq, we heard so much about the US' goal to occupy Iraq and control oil, that Iraq has the world's second largest oil reserves, and that in more than two years oil prices have reached 40, 50, and $60 per barrel (bpd). Despite this, Iraq, which is a rich and old country, is still suffering from poverty, lack of security and deteriorating instability. Yesterday, we heard reports that the Iraqi government has unanimously approved a new oil law, but we must ask: what kind of foreign country would come to invest under such poor security conditions? http://english.daralhayat.com/opinion/OPED/02-2007/Article-20070228-0863b484-c0a8-10ed-00b5-6dcf62daeda9/story.html

5. Oil Money and Federalism - Assessing the New Iraqi Oil Deal http://volokh.com/posts/1172575339.shtml

6. New Oil Law Seen as Cover for Privatization - Electronic Iraq, WASHINGTON (IPS) - The U.S.-backed Iraqi cabinet approved a new oil law Monday that is set to give foreign companies the long-term contracts and safe legal framework they have been waiting for, but which has rattled labor unions and international campaigners who say oil production should remain in the hands of Iraqis. Independent analysts and labor groups have also criticized the process of drafting the law and warned that that the bill is so skewed in favor of foreign firms that it could end up heightening political tensions in the Arab nation and spreading instability. http://electroniciraq.net/news/2923.shtml

7. Iraq maps strategy to revive oil fields - BAGHDAD — After months of contentious negotiations over the postwar spoils of Iraq's most valuable natural resource, the government announced Monday night that it had approved a draft plan to ramp up oil production and share the proceeds. The agreement by the Iraqi Cabinet was touted as a major breakthrough. It must still be approved by parliament, but because all of Iraq's vested ethnic and regional interests are represented in the Cabinet, the deal was viewed as having overcome a significant hurdle. http://www.latimes.com/news/printedition/asection/la-fg-iraqoil27feb27,1,1499618.story?coll=la-news-a_section

8. New Iraq''s oil legislation, a significant step forward -- official. BAGHDAD, Feb 27 (KUNA) -- The Iraqi Ministry of Oil has welcomed the new oil legislation in the country referring to it as "a significant long-awaited step." "The new legislation regulates management of (the Iraqi) oil sector and secures just distribution of crude revenues to all Iraqis," the ministry spokesman, Asem Jehad, told Kuwait News Agency (KUNA) on Tuesday noting that the law set the sound bases for developing the oil industry in cooperation with the world's leading firms.
http://www.kuna.net.kw/home/Story.aspx?Language=en&DSNO=956220

9. Iraq to decrease fuel subsidy 15 percent -- BAGHDAD, Feb. 26 (UPI) -- Iraq's oil minister said he will increase prices for scarce fuel to keep in line with donor requirements. Hussein al-Shahristani said he will increase fuel prices by 15 percent next month, Gulf Daily News reports. http://www.upi.com/Energy/Iraq_to_decrease_fuel_subsidy_15_percent/20070226-042151-6743r/

10. Official regrets Baghdad's ban on Iranian vehicles carrying goods into Iraq - IRNA - An Iranian transportation official regretted on Wednesday an Iraqi decision not to allow Iranian trucks and buses carrying goods and passengers into Iraq. Unfortunately, Iranian trucks and buses carrying goods and passengers into Iraq are currently stopped at Shalamcheh borderpoint and their cargo or passengers transported to Iraq by Iraqi vehicles, said the official. http://www2.irna.ir/en/news/view/line-16/0702288464150610.htm

11. Iraq expecting wheat, rice - Iraq said ships carrying 52,000 tonnes of Canadian wheat and 62,000 tonnes of US rice would arrive at the southern port of Um Qaser next month. A statement from the Trade Ministry said the vessels would arrive on March 3. ttp://www.iraqdirectory.com:80/DisplayNews.aspx?id=3284

12. Iraqis stash cash to avoid troubled banking system http://www.iraqdirectory.com/DisplayNews.aspx?id=3256

13. International participations of business community - The Federation of Iraqi Importers and Exporters is organizing five economic delegations, within its agenda for the first half of this year 2007, to Bulgaria, Bahrain, Romania, Turkey and Korea. Head of the Federation, Thabit Albaldawi said. http://www.iraqdirectory.com/DisplayNews.aspx?id=3244

14. Drinkable water projects in Baghdad suburbs http://www.iraqdirectory.com/DisplayNews.aspx?id=3215

15. Science ministry starts digitizing project http://www.iraqdirectory.com/DisplayNews.aspx?id=3222

16. Sectarian lines dissolve when Shada sings on Friday night -- USATODAY, BAGHDAD — An Iraqi contestant in an Arab-world talent competition similar to American Idol has managed to unite her country like no government can. Every Friday night, Iraqis gather around their TVs to root for Shada Hassoon, 25, as she tries to sing her way to victory and a big cash prize on Star Academy. The show is a rare and welcome distraction for Iraqis cooped up indoors because of the violence and curfews affecting most of Baghdad. http://www.usatoday.com/news/world/iraq/2007-02-22-life-star-academy_x.htm

END