Category: Dinar Daddy

Iraq to pay $2bn in Arrears to Foreign Companies

Shafaaq reports that Iraq will pay foreign oil companies about $2 billion in remaining arrears for 2015 in April.

The arrears were accumulated to international oil companies (IOCs) such as BP, Shell , ExxonMobil, Eni and Lukoil, which operate in under service contracts, whereby they are paid a fixed dollar fee for additional volumes produced.

Deputy Oil Minister Fayadh al-Nema, who is in charge of upstream operations, told Reuters that amended contracts could be in place by the middle of the year, which would ease the pressure on Iraqi finances.

He added that one way to reduce companies’ costs was to hand drilling operations over to the state-run Iraqi Drilling Company (IDC), while another was to replace foreign workers with locals.

Iraq’s output rise in 2016 will be “very modest,” Nema forecast, due to the shrinking investment budgets of foreign contractors, which are affected by the drop in oil prices.

Nema said a deal with PetroChina, ExxonMobil and other energy companies could be reached by the end of the year over investing in a project to boost output from its smaller southern oilfields.

The multi-billion dollar “Integrated South Project” consists of building oil pipelines, storage facilities and a seawater supply project to inject water from the Gulf to maintain pressure and enhance oil recovery.

Investing companies will help raise production from the Artawi and Nahr Bin Umar oilfields and build energy infrastructure. Revenues from rising output from the two oilfields will be used to repay investors, Nema said.

Nema also said Iraq was working with BP to upgrade an old water injection facility in Garmat Ali, north of Basra, to provide oilfields of Rumaila and Zubair with water needed to boost output.


Iraq Considering Compulsory Military Service

The Iraqi Defence Minister is reportedly working on a draft law to make military service compulsory.

According to BasNews, the ministerial council has recently suggested the bill, and the governmental advisory committee is now working on it before presenting it to the council of ministers.

If the draft law is approved by the council of ministers, it would then be presented to Iraqi parliament.

Compulsory military service was abolished in 2003.


Coalition Strikes Target ISIL Terrorists in Syria, Iraq

U.S. and coalition military forces have continued to attack Islamic State of Iraq and the Levant terrorists in Syria and Iraq, Combined Joint Task Force Operation Inherent Resolve officials reported on Monday.

Officials reported details of the latest strikes, noting that assessments of results are based on initial reports.

Strikes in Syria

Attack and remotely piloted aircraft conducted six strikes in Syria:

Near Hasakah, three strikes struck three separate ISIL tactical units and destroyed an ISIL building, four ISIL vehicles and an ISIL heavy machine gun.
Near Ayn Isa, two strikes struck an ISIL tactical unit and destroyed an ISIL vehicle.
Near Dayr Az Zawr, a strike struck an ISIL tactical unit.
Strikes in Iraq

Attack, fighter and remotely piloted aircraft conducted 12 strikes in Iraq, coordinated with and in support of Iraq’s government:

Near Baghdadi, a strike destroyed an ISIL tactical vehicle.
Near Fallujah, a strike destroyed an ISIL front-end loader.
Near Habbaniyah, a strike destroyed an ISIL fighting position and an ISIL heavy machine gun position.
Near Kisik, a strike destroyed an ISIL rocket rail.
Near Mosul, a strike struck an ISIL tactical unit.
Near Qayyarah, a strike struck an ISIL used bridge.
Near Ramadi, two strikes struck two separate ISIL tactical units and destroyed an ISIL tactical vehicle.
Near Sinjar, a strike struck an ISIL tactical unit and destroyed an ISIL heavy machine gun position and three ISIL fighting positions.
Near Sultan Abdallah, a strike destroyed an ISIL mortar position and three ISIL fighting positions.
Near Tikrit, two strikes struck an ISIL improvised weapons factory and an ISIL headquarters.
Task force officials define a strike as one or more kinetic events that occur in roughly the same geographic location to produce a single, sometimes cumulative, effect. Therefore, officials explained, a single aircraft delivering a single weapon against a lone ISIL vehicle is one strike, but so is multiple aircraft delivering dozens of weapons against buildings, vehicles and weapon systems in a compound, for example, having the cumulative effect of making those targets harder or impossible for ISIL to use. Accordingly, officials said, they do not report the number or type of aircraft employed in a strike, the number of munitions dropped in each strike, or the number of individual munition impact points against a target.

Part of Operation Inherent Resolve

The strikes were conducted as part of Operation Inherent Resolve, the operation to eliminate the ISIL terrorist group and the threat they pose to Iraq, Syria, and the wider international community. The destruction of ISIL targets in Syria and Iraq further limits the terrorist group’s ability to project terror and conduct operations, officials said.

Coalition nations that have conducted strikes in Iraq include the United States, Australia, Belgium, Canada, Denmark, France, Jordan, the Netherlands and the United Kingdom. Coalition nations that have conducted strikes in Syria include the United States, Australia, Bahrain, Canada, France, Jordan, Saudi Arabia, Turkey, the United Arab Emirates and the United Kingdom.


Tlm says big boys are coming to town.

tlm724 Article quote: “…a delegation internationalist featuring its president and ambassadors of foreign countries and the World Bank Country Director in Iraq, will visit the Kurdistan region today, to discuss the economic crisis and reforms, while confirming that the delegation will meet with the region’s president, Massoud Barzani and Prime Minister Nechirvan Barzani.” big boys are coming to town…hope this visit helps resolve the oil agreement once and for all…bring on the HCL down the road too.


Calls for Greater Women’s Representation in Decision Making

UN Women, in partnership with the Women Parliamentary Committee, organized a high-level event today at the Council of Representatives (Parliament) in Baghdad to mark International Women’s Day.

The event comes at a particularly difficult time for Iraqi women and girls, who continue to be subject to gross human rights violations and heightened vulnerability related to the rise in violent extremism and mass displacement. No woman or girl is entirely free of the risk of being subjected to insecurity, human rights abuses, including forced marriage and other forms of Sexual and Gender Based Violence.

The difficult reality facing Iraqi women today is compounded by entrenched structural discrimination and barriers that lie at the heart of gender inequality.

Opening the event, Deputy Speaker of the Council of Representatives Mr. Aram Shiekh Mohammad saluted Iraqi Women on the occasion of the International Women’s Day. “We celebrate Iraqi women and recognize their leadership and political role and sacrifices in shaping the new Iraq”.

The chairwoman of the Women Parliamentary Committee, Ms. Rihab Al Aboud, emphasized the need for greater women involvement in decision-making processes and called “for strong representation of women in the new government”, Ms. Al Aboud stressed.

Deputy Special Representative of the United Nations Secretary-General for Iraq for Political and Electoral Affairs, Mr. Gyorgy Busztin, cited the commitment of the Iraqi government and progress made in women representation in parliament and joined the call for a strong representation of women in the new government.


Japan gives $15m to UN-Habitat Projects in Iraq

United Nations Human Settlements Programme (UN-Habitat) has received USD 15 million from the Government of Japan to implement two projects in Iraq: “Gender-sensitive Durable Shelter Support for Internally Displaced Persons in Iraq” and “Promoting Urban Recovery in Newly Liberated Areas in Iraq.”

The conflict with the Islamic State of Iraq and the Levant (ISIL) has had profound humanitarian consequences throughout Iraq. More than three million Iraqis have fled their homes and three million more are living under ISIL control. Some of the major cities in Iraq already have more number of internally displaced persons (IDPs) than their original population, putting communities hosting IDPs under severe pressure.

Inadequate and insecure shelter conditions endanger women and girls, making them increasingly vulnerable to sexual and gender-based violence. Even after liberation of cities once controlled by ISIL, only small portions of IDPs have returned, because cities are devastated with buildings and houses burned, shops looted, roads damaged from bombs and electricity grid destructed, after going through major military operations.

Despite the efforts of the Government of Iraq in providing support to IDPs and returnees, the severe budget crises because of the decline in the oil prices and the cost of the war against ISIL necessitate the mobilization of substantial humanitarian support.


US Allows Iraq to Postpone $2.7bn for Arms Purchases

The US government has said it will allow the Iraqi government to postpone the payment of $2.7 billion for arms purchases.

On a visit to Baghdad, US Special Presidential Envoy Brett McGurk (pictured) met with Prime Minister Haider al-Abadi, Speaker of Parliament Saleem al-Jibouri, and the governors of Diyala, Salah ad-Din, Ninewa and Anbar provinces, along with other Iraqi leaders to discuss the International Coalition’s support for Iraq’s ongoing operations to defeat Da’esh.

He commended Iraqi forces for their courage, bravery, and recent successes in Anbar and Salah ad-Din provinces. Mr. McGurk underscored that the United States and the Coalition is prepared to increase support to the Iraqi governments we work together to accelerate Daesh’s defeat.

In all his meetings, including with UN Special Representative of the Secretary General for Iraq Jan Kubiš, Mr. McGurk stressed the United States’ commitment to supporting post-conflict stabilization in newly liberated areas, facilitating humanitarian assistance to internally displaced persons and refugees, and promoting the safe, voluntary return of displaced persons to their homes.

Meetings also addressed Iraq’s economic challenges, and ways the U.S. is prepared to help address them, under our Strategic Framework Agreement with Iraq. This includes deferring payment on $2.7 billion ‎in U.S. security equipment to ensure Iraqi forces are able to accelerate operations over the coming months.


Masum’s Talks With Sisi Covered The Common Concerns

Foreign Minister Ibrahim al-Jaafari said the President Fuad Masum’s talks with his Egyptian counterpart Abdel Fattah al-Sisi in Cairo covered Iraqi – Egyptian worries and common and permeated consultations and discussed economic, security and military cooperation, tourism and cultural heritage.

He said, according to a statement of the Ministry of Foreign Affairs,: “The meeting was a promising and saw the serious atmosphere in the points that have been discussed,” pointing out that the meeting with President al-Sisi is the first of the meetings in Cairo.

President Fuad Masum, arrived yesterday to Cairo on his first official visit to Egypt, and met at the beginning with his Egyptian counterpart Abdel Fattah al-Sisi. / End