This article gives another perspective from a US State Dept. in reference to one of the ten PRT that are active in Iraq. There were suppose to be 20 PRT in Iraq however; having trouble finding the bodies to fill those positions. Instead of civilians they fill the positions with young US Army Civil Affairs soldiers not good since your pulling soldiers from pulling triggers to drinking tea with the local Sheiks. If security does not improve then not much of the infrastructure will be built.
Five years ago, provincial reconstruction teams were a daring new concept: combined civilian-military units that engaged in humanitarian affairs in remote locations. PRTs got rave reviews from the media and for good reason. They were established in the parts of Afghanistan where security was decent, if not great, and where development was nil, giving American amateurs the chance to win over the local population by building water wells and one-room schoolhouses from scratch.
Recently the State Department has been trumpeting PRTs as a strategy for getting Iraq on its feet. Unfortunately, Iraq is not Afghanistan. Not only is security non-existent, but Iraq’s infrastructure is far more complex than Afghanistan’s. Thus, Iraq needs real experts and a supple bureaucracy—both in the Green Zone and in Washington—to help it out of its decrepitude. But both of these are lacking.
Read the article here.
When your Big Oil and sponsoring an event for a country you want to do business in; the chances of an RV less and less likely before Big Oil and the rest of the Paris Club members obtain what they wanted all along. Oil and energy contracts.
Chevron has confirmed its role as a sponsor of the forthcoming Iraq Oil, Gas, Petrochemical & Electricity Summit, which will take place on 28-30 May 2007.
The summit has been organised to bring together key Iraq Government decision makers in the energy sector and international operators seeking partnership opportunities in both the upstream and downstream industry.
The summit will welcome representation from the Iraqi Ministries of Oil, Industry & Minerals and Electricity, as well as the Iraq Energy Council, Investment Promotion Agency and the Kurdistan Regional Government (KRG) Ministries for Natural Resources, Industry and Electricity. It will also host many of the state companies operating under the Iraqi Ministry of Oil and senior representatives from the Iraq Reconstruction Management Office (IRMO).
This historic landmark event will be the first of its kind for the most important sectors of the Iraqi economy.
Read the article here.
Big oil is still waiting on the Oil and Petroleum Law in Iraq to be voted on by Iraq’s Parliament. I am thinking late May or early June when it will pass. Dutch Shell is looking to partner with a Turkish company.
The state-run Turkish Petroleum Corporation (TPAO) and a multinational oil company of Anglo Dutch origin have struck a deal to extract gas in northern Iraq, though the agreement still needs to be ratified by the central Iraqi government in Baghdad.
Royal Dutch Shell PLC is expected to work in partnership with TPAO to build a pipeline from disputed city of Kirkuk to Ceyhan on the Mediterranean coast of Turkey, a UK daily said in its report published on Friday, emphasizing that the deal paves the way for Shell’s return to Iraq after 35 years.
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Iraq’s Oil Ministry says northern pipeline attacks cost $165 million a day in potential revenue and wants the Kirkuk council to do more to prevent it.
It has been several months since the northern pipeline has been operational. If I was losing 165 million a day I think I would hire my own army and protect those fields.
read the article here
This is just the beginning of the lawsuits to come in reference to the selling of Iraqi Dinar. The person violated Idaho Commodities Act which regulates foreign currency trading.
Foreign banks are waiting until security stabilizes in Iraq before entering or expanding their small presence in Iraq. The banking sector in Iraq is seriously underdeveloped and foreign investment has been limited to seven banks that have had no new investment since 2004.
As security and stability increases in all areas of Iraq the banking sector will develop their systems and start investing in their particular Iraqi bank.
Several news articles reporting the ISX will be opening up to foreigners in September. This is true however; they will definitely be opening up to foreigners on June 1st.
The September date happens when you start a new business.
Read the article here.
Iran bars Iraq PM from its air space
Read the Article here.