Rice Discusses Troop Withdrawals with Iraqis (AP) ~ Iraq Oil Minister Sees Possible Oil Oversupply ~ Iraq has allocated 500 million dollars to support the construction industry ~ D.N.O company expected to start exporting Iraqi oil during 2008 ~ New amusement park to launch soon in Erbil, Iraq….
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Rice Discusses Troop Withdrawals with Iraqis (AP)
Secretary of State Condoleezza Rice flew into Baghdad on Thursday for discussions with Prime Minister Nouri al-Maliki and other top Iraqi officials, hoping to iron out remaining differences in a U.S.-Iraq security deal that envisions the withdrawal of American troops.
“The negotiators have taken this very, very far,” she told reporters, “but there is no reason to believe that there is an agreement yet.” She flew into Baghdad amid indications that a draft deal had been concluded, but she said that was premature.
“There are still issues concerning exactly how our forces operate,” Rice said. “The agreement rests on aspirational timelines.”
Rice declined to talk about specifics, but U.S. officials said more work is needed to reach agreements on a timeline for U.S. troop withdrawals, immunity for U.S. troops and the handling of Iraqi prisoners.
“Ultimately the prime minister has to make the call on moving forward,” Rice said. She described her visit as “a chance for me to meet with the prime minister and see what we can do from Washington to get to closure.”
Iraqi and American officials told The Associated Press on Wednesday that negotiators had completed a draft agreement that extends the legal basis for U.S. troops to remain in Iraq beyond the end of this year, while calling for them to move out of Iraqi cities as soon as June 30.
A senior U.S. military official in Washington said the deal is acceptable to the U.S. side, subject to formal approval by President Bush. It also requires approval by Iraqi leaders, and some members of Iraq’s Cabinet oppose some provisions.
Also completed is a companion draft document, known as a strategic framework agreement, spelling out in broad terms the political, security and economic relationships between Iraq and the United States, the senior military official said. The official discussed the draft accords on condition that he not be identified by name because the deals have not been publicly announced and are not final.
In addition to spelling out that U.S. troops would move out of Iraqi cities by next summer, the Iraqi government has pushed for a specific date — most likely the end of 2011 — by which all U.S. forces would depart the country. In the meantime, the U.S. troops would be positioned on bases in other parts of the country to make them less visible while still being able to assist Iraqi forces as needed.
There are now about 140,000 U.S. troops in Iraq.
U.S. officials have resisted committing firmly to a specific date for a final pullout, insisting that it would be wiser to set a target linked to the attainment of certain agreed-upon goals. These goals would reflect not only security improvements but also progress on the political and economic fronts.
It was not clear Wednesday how that has been settled in the draft security accord, which the two governments are referring to as a memorandum of understanding. The draft agreement must be approved by the Iraqi parliament, which is in recess until early next month.
Late Wednesday a second senior U.S. official, speaking on condition of anonymity, said the two sides have come up with a draft agreement that addresses the issue of the timing of future U.S. troop withdrawals, but the official would not say whether the two sides had agreed on 2011 for a final pullout. The official suggested there would be a series of timelines set, linked to conditions on the ground, and that the draft worked out by the negotiators required more talks at higher levels of the two governments.
An Iraqi official who was involved in the protracted negotiations said a compromise had been worked out on the contentious issue of whether to provide U.S. troops immunity from prosecution under Iraqi law, but he did not give details. In Washington, the senior military official said the draft agreement reflects the U.S. position that the United States must retain exclusive legal jurisdiction over its troops in Iraq.
While Iraqi negotiators signed off on the draft, another official close to al-Maliki said the country’s political leadership objected to parts of the text, including the immunity provision. He would not elaborate and spoke on condition of anonymity because of the sensitivity of the issue. Iraq Updates
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Iraq Oil Minister Sees Possible Oil Oversupply
22 August 2008 (AFX News Limited)
Oil supplies meet and may slightly exceed current world demand, Iraqi oil minister Hussain al-Shahristani said at a press conference in Warsaw, Poland on Thursday.
Sharhristani did not say whether or not the supply situation meant OPEC needed to cut output at its September meeting, saying the group would have to first review its market data.
Sharhristani also said he expected Iraq’s OPEC target to reach 4.5 million barrels per day within five years and 6 million barrels per day within 10 years. Iraq Updates
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Iraq has allocated 500 million dollars to support the construction industry
22 August 2008 (Iraq Directory)
The building and construction sector in Iraq, had witnessed a precedent phenomenon regarding the high prices of construction materials, particularly iron ,cement and bricks (stone reinforced concrete), which burdened the citizens along with their direct impact on the level of performance of companies contracting with the state now, due to the different prices.
The experts attributed the rising prices of construction materials, that the local market is effected by the world prices in the first degree, and then monopolistic practices of traders and the chaos of the domestic market. Others decried the importance of the step directed by the state to provide construction materials with global specifications and reasonable prices ,and to enter as a partner in the construction materials market, because the administrative routine is an obstacle to such initiatives.
Specialists in constructive sector called on the government intervention to handle with this phenomenon of rapidly rising prices, particularly after the government’s declaration about preparing for the reconstruction campaign this year, according to expectations it will be “the construction and reconstruction year.
The specialists notified on what a high official stated of a plan to rebuild the city of Baghdad, according to a global designs within 3 years at a cost of 6 billion dollars, by local and international companies include construction of residential and commercial complexes and hotels, and to rehabilitate roads and different service projects, and they wondered how prices will evolve when the scheme started in .
Iraqi Finance Minister Baqer Jabr Al-Zubaidi announced that the strategic priorities of the current year’s budget, lies in the rehabilitation and construction industries developed, aimed at solving the housing crisis, once he acknowledged that the government needed to 400 billion dollars for the rehabilitation of infrastructure in the country. He explained that his ministry has allocated 500 million dollars to the Ministry of Industry, to support the plants and construction industries and companies affiliated to it, pointing out that it recently engaged the private sector in the rehabilitation and development of the cement factories in Kufa, Karbala and Anbar, in what will provide construction materials with world specifications and suitable prices.
The rise of construction materials prices reflected also upon real estate prices, rising 200 percent, doubling the housing crisis. The estimates illustrate the Iraq needs about 3 million housing units to solve the crisis in the coming years.
Reports indicate the contribution of merchants and contractors in raising the prices of construction materials, through their control of quantities of these materials from the local market, by buying loads of cement and iron before arriving to Iraqi ports, or warehouses of traders, which activated the sector, but doubled the prices. Iraq Updates
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D.N.O company expected to start exporting Iraqi oil during 2008
22 August 2008 (Iraq Directory)
D.N.O the Norwegian oil and gas company, announced that the profit declination was lower than expected in operating profit for the second quarter and ,stressed that the production will rise strongly once they get access to the export of Iraqi oil.
And the company’s profits decreased before deducting interest and taxes to 125 million krone ($ 23.06 million) in the period between April and June compared with 185 million krone a year ago.
According to Reuters survey of nine analysts views, who had predicted a decline of profits to 110 million krone due to the drop in production in Yemen and the higher expenses.
Unlikely to most oil companies, D.N.O have not achieved full advantage of high oil prices because it sells most of its oil production in Iraq’s domestic markets where prices are lower than global levels.
The company said in a statement, “D.N.O will witness a leap in production levels as soon as they are permitted to export the oil from Toki field (in northern Iraq). And even then the company expected to keep the production stable.”
They added: “Based on discoveries made during the first six months and with the ever prospecting program, the company expects to achieve further growth in reserves and resources through in 2008.”
D.N.O mentioned repeatedly that it expects to win the license of the oil export from Iraq during 2008.
(U.S. dollar equals 5,420 Norwegian krone) Iraq Updates
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New amusement park to launch soon
Families in Erbil to have more fun and amusement at Family Fun.
By: Aiyob Mawloodi ~ 22 August 2008 (Kurdish Globe)
A giant entertainment project in Kurdistan Region’s capital city of Erbil will begin welcoming people next month, said Jamal Yassin, the main engineer of the project.
The Family Fun amusement park, a joint venture between the public and private sectors, is built on a $US50 million budget and situated on a 130,000 square meter of land in a northeast Erbil neighborhood. The Kurdistan Regional Government (KRG) donated the land, and Darin, a local Kurdish company, is building the amusement park.
Family Fun consists of two major parts. The first includes shopping malls, stores, and markets, and the other is a large-scale amusement park.
The second phase of the project, which includes various amusements, many new to the region and the country as a whole, is 95% complete. Another section of the park is only 60% complete and will not be open until next year.
The amusement park, the largest and most modern in the capital and the region, has new summer rides in large sizes that make them unique in the country. They include a 572-meter railway called Alabora, which is an Italian amusement ride that carries 42 people and is nonexistent in Iraq; Condor, with the capacity to carry 56 people; a carnival ride 45 meters in height with a capacity to carry 192 people, and more.
There is also an extensive parking area with a 150,000-plus car capacity.
The park is expected to be an attractive tourist site and a modern entertainment center. Builders believe it will attract thousands of local and foreign tourists on a daily basis, and serve as a respite for Erbil residents seeking to have fun with their families and hoping to find fresh air. The park, with its wide green area and large number of trees, is clean and environmentally friendly.
But challenges must be addressed before Family Fun can open completely for business.
One of the major problems with the project, according to Yassin, is the electricity power supply for the compound.
“Power shortages will cause us trouble in the future, since power generators are not sufficient for the amusement park,” said Yassin. “Alabora alone consumes 1 megawatt of electricity; the whole project needs 6 megawatts.”
The water shortage is also a source of concern, since the two water wells licensed by the KRG to be dug for the project are insufficient for irrigation of a 40,000 square meter of green area and other water needs, Yassin explained.
Other minor setbacks of the project, according to project managers, include the surrounding of the park, i.e., the North Industrial Area and Sheikh Ahmed Cemetery, which distort the appearance of the park; and 100 Meter Street, which is very crowded and makes it difficult for visitors to cross the street and enter the park. They want to construct a pedestrian bridge over the street to solve this problem. Darin and the KRG will work together to seek solutions for other issues. Iraq Updates