I’ve told you the past that I like the good Dr. Hussain Al-Shahristani, because he travels to other countries and he closes oil deals. I also mentioned on this blog that he was going to China either after going to Australia or before, I guessed he chose after the trip to Down Under. I am wondering when is the Oil Ministry of Iraq going to visit Houston? You can read the article here.
First, it was Russia and now China it appears that Iran has a lot of influence on all the energy deals that have come about lately and this is no coincidence. For Russia and China firm stance on the Iranian nuclear crisis this is both there countries rewards, and it is oil and energy contracts and I am sure more are to come in other sectors and industries for both these countries.
My post about China.
September 2006Monthly Archives
Iraq and China Oil Deal
Iraq Stock Exchange E-Trading Update
Last June 06 I posted a memo about the company called The OMX Group being awarded the contract to set up the electronic trading platform for the Iraq Stock Exchange in Baghdad. The OMX Group is still currently working on the electronic system for the ISX.
Acdc has received an update to this operation of getting the ISX up and operational in a electronic capacity and information received from a credible source is the electronic trading platform will not be ready and fully tested until May 2007. They are expecting the electronic platform to be ready and fully operational in June 2007, if everything goes according to plan.
This is still positive for all you investors already investing and trading in the ISX. It gives you more time to invest more funds and make gains from now until next May when the electronic trading starts we all hope inside Iraq.
Karsazan Group
This is an investment and commercial group made up of fifty Turkish and Kurdish companies that are operating in northern Iraq. One of the goals of the group is to unite all the Turkish companies, into this group along with the Kurdish companies so they become one powerful group that can meet all construction needs and meet any need in any industry and bid and fulfill contracts they seem fit to bid on.
It is a good move I wonder if they have any bankers in the group. I will also say that there are over 300 Turkish companies working inside of Iraq.
This week in Iraq
I have mentioned before that I like the Ministry of Oil Dr. Husayn Al-Shahrastani, because he gets all the perks and travels to different countries in the region and signs and gets deals. This week it has already been reported that he is off again to Australia to meet with government officials there and either after the trip or before he is going to make a quick stop in China to meet with Chinese officials.
The good Dr. has been reconsidering some oil and energy contracts with the Chinese and will be stopping there as I have said either before or after the down under trip.
Iraq Political Showdown
For all you dedicated readers of American Contractor dotcom (ACDC) you thought that last years constitution government meetings were long and drawn out which it was, I don’t believe you have seen long and drawn out on what is going to occur in the next several weeks with the Iraqi government if not longer.
There are several issues that are currently at Iraqi government level and to get accomplished this requires debating and voting on several bills and participation from the Iraqi parliament. The one bill that is going to cause the biggest political showdown is the bill of federalism, you know the dividing Iraq into federal territories.
Cancel Meter Contracts
An American Company that had the contract to install meters for the oil wells in the south have or are about have their contracts cancelled according to the Oil Ministry. They either don’t have any meters or have meters but they don’t work. So I am wondering how do the Iraq Oil Ministry know how much oil is being exported if your meters are missing or not working properly. Read my oil mafia article, I think it is in there favor if the meters don’t work get it.
The Russian Oil Deal
Three years ago the Russians decided to write off 10 billion of Iraqi debts in an international agreement with other Paris Club members. After several years of delay in actually sealing this deal, now the Russians have said they will go ahead and write off the 10 billion minus the 1 billion in accrued interest.
It is apparent the Russian government was stalling in writing off the debt to use this as leverage to acquire an oil contract in the southern oil fields of Iraq. Nothing was guaranteed but in any case it worked.
Got Sources?!!
Two months ago on 10 June I posted a comment about the Iraqi oil workers some, not all were in Russia, receiving some technical training in the oil industry.
On 28 August I posted a comment about the Russians close to signing agreements with the South Oil Company for oil wells in southern Iraq.
Iraqi Association of Securities Dealers
Awhile back I had sent the Executive Manager of the IASD some questions and he was so kind to respond to them. I will list some of the question and answers here so you can read them with the Managers permission of course.
Federal Blocs Bill
The deadline for the Federal Blocs Bill was 16 September and now has been moved to 22 October. This is significant because it shows that maybe the Iraqi government is willing to work while celebrating Ramadan. As I have listed before there is several bills that are in need of approval and passage by the Iraqi parliament.
List of some of the Bills here.
