Trading With Iraq: Major Players 2009
Go Russian, this was not the only rapport Iraq will enjoy soon with other countries. Prime Minister Nuri Al-Maliki revealed that another major governmental cooperation is on the horizon. Al-Maliki said a delegation from Russian Company Lukoil will pay Baghdad a visit very soon to pen new contracts for developing Iraqi oil fields. Of course neither Iraq nor any other Middle Eastern country have the knowledge, experience or resources to professionally run such a profitable project, so keeping hold of the foreign experts is again a good call by the government.
“We have agreed to visit officials from Lukoil in Baghdad soon, in order to conduct negotiations with the Ministry of Oil, adding that the Iraqi government has ideas that could satisfy the company and at the same time conform with Iraqs economic and oil policy,” Al-Maliki told Russian publication Vremya Novosti.
The Russian corporation was in charge of West Qurna oilfield more than a decade ago, but the deal was called off as a result of the unstable circumstances during the horrendous era of then President Saddam Hussein, whom many people think of as a tyrant that completely damaged the country’s economy at the time. But now Lukoil seems close to getting back in business in Iraq.
“The giant Russian company Lukoil, had signed a contract in 1997 worth billions of dollars for the development of the large West Qurna oilfield -2, but was expelled from the country before the events of March 2003 because of disagreements with the previous regime,” the minister explained.
“The contract can be renewed with this company, or we can work with other companies. All these issues will be the subject of negotiations, and therefore, we call for Lukoil officials to visit Baghdad. We will be happy if Lukoil win the rights to develop this field.”
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This article may be reprinted online and offline
as long as this box remains and its link is
hyperlinked online. Written by Darren Chabluk
for http://DrDinar.com/blog
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The oil deals are a good sign of what is to come, however my personal opinion is that the value of the dinar will stay the same for a long time, my predictions for what its worth is that we are still looking at 10 to 15 years for any change in the dinar to take place.
Once the oil fields are producing in a stable manner and the
threat of violence subsides I think the Dinar will Sky rocket
on the international markets! JMHO! Iraq will be the bread basket
of the middle east.
Great article!
I would like to know if anyone knows how to contact the World Bank, the IMF and the ICC to find out what else needs to be done before an international value will be placed on the Iraq Dinar?
If or when the Iraq Oil is ready to start trading to Russia, the USA or anyone else it would seem to me that Iraq would need their international monatary system. The hydrocarbon laws have been approved so what else needs to be done?
I think revaluation will happen any day now. The government and the central bank are working double time to make it happen. They don’t want to see their currancy drop in value anymore than we want our dollar to drop. The peple of Iraq have suffered long enough, and I think there will be more unrest if they it delay any longer. It will happen when you least expect it.
Edward Bailey
A reval will not leave the Dinar value the same. Look at any any currency that has been revalued.
Jay, all your questions are answered in the upcoming membership site.
Iraq stands to gain if the reval is done soonest.
Oil production is forecasted to triple within 3 years in Iraq.
I believe that major events will be happening in Iraq in the next 6 months or so, which will definitely speed up the Dinar revaluation.
I keep hearing about the revaluation of the dinar, but no one is saying aobut it being a good thing or a bad thing. So which is it guys bad or good.
This is in response to Mr. Hilton.
The reason I bought Dinar at 1/10 of 1 US Cent was in hopes of the revaluation going up in value. The main reason that the USA and England printed the 9 Trillion New Dinar is to help move Iraq to an International trade level for thier Money. If the World Bank, the ICC and The IMF agrees to set an International Value on the New Iraq Dinar then the hope is that in a few years or maybe months that it will have a value equal to the US dollar. Then in the next 3,5 or 10 years be back a value to the pre war old Dinar that was worth $3.79 to one US Dollar. So for each Million of the new Dinar that you have purchased and are holding for revaluation has the potentional of being worth anywhere from 1/10 of 1 cent to $3.79.
A revaluation would be a good thing, not a bad thing if done at the right time. To answer Johnny.
Darren, please elaborate “done at the right time”.
As we all know Iraq is one the richest countries in the world because of having a big quantity of oil reserve. The strength of it’s currency depends on how strong it’s economy is.Looking at the Iraq oil production now which on the rise….Believe me, we don’t have to wait long before the Iraq Dinar is going to be revalued to ID 1=US$1, possible in 2009!!!
“(reval) done at the right time”, it is a timing issue. I am putting together kind of a presentation to explain exactly this…
Most of the information that we recieve is Filtered! What we all are waiting for is for the World Bank. the IMF, the ICC all to come to an agreement that Iraq is ready, that the infastructure is in place, the Iraq Army is ready to take over the peace keeping for the American Troops, the Iraq Police are ready to partrol and keep the peace and there is STABILITY in Iraq.
Once this is all in place Iraq will be ready to start trading on in the Inrernational Market and will need their own Curriency. If there were not good signs that this is coming to furution then why did the World Bank make the rescent loan to Iraq of 479 Billion? Almost every Free Trade Country in the world owns Dinar. We are all waiting for the day that it has an International Value. If it starts a 10 cents or 30 cents it will soon be on the same value as the American Dollar and then on to the pre Sadam value. It is not an if, it is a when!
God bless
Does any one know for sure when this revalue or pegging of the (IQD ) Iraq Dinar ?
I have been waiting since 2004 for this , and the waiting is getting to me.
My health is not well and i really hope that it sooner than later.
I really could use it now ……………
thanks
I do not think any human knows for sure.
The ones to make the decision are The World Bank. The IMF, International Monetairy Fund and the ICC International Chamber of Commerence located in Paris, France. That is about all I know.
THE IRAQ DINARS WILL BE UP IN VALUE, IN AMERICAN MONEY IN
WHICH WE WILL BE ABLE TO MAKE A PROFIT ON YOUR INVESTMENT
THIS MONTH OF AUGUST.
The dinar will not go up in value, not until the sanctions are lifted. Then maybe we will see some movement.,
ya its true that iraq too will soon enjoy trading with all other countries.
rahul
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