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On: Sat 07/30/2011 8:03
Baghdad / term follow-up of economic
, government sources said that Iraq was able to attract investment worth about six billion dollars of projects licensed since the beginning of this year, at the time called experts to make as much transparency about the oil exports and fiscal revenues. The expert called for oil to the need to demonstrate a high degree of transparency about the amounts of light oil exporting reports announced by the Ministry of Oil.
The oil expert, Hamza Jeweler: necessary to refer to the kind of detail, the quantities that go to the refineries, exactly, as well as the quantities that go from crude oil to produce electric power and amounts of black oil to produce electric power and put these quantities combined total production volume.
The jeweler that necessary, also call for detailed quantities based on the company producing them, pointing to the existence of more than ten bodies produce oil and progress of the ministry at the point of delivery are known, expected the arrival of the number of companies to more than 15 companies in the near future.
He continued: It is necessary to know these numbers and transaction matching Reconciliation-factors by which to judge the integrity of production operations, export and thus financial returns true for Iraq's oil.
so, the head of the National Investment Commission Sami Araji: that Iraq was able to attract investment worth about six billion dollars of projects licensed since the beginning of year to help rebuild the country after years of war and sanctions.
Araji said to (Reuters): Most of these projects in the sectors of housing, infrastructure, and also in services, telecommunications and cement.
He continued, we have attracted in the first half of the year ... about six billion dollars , is the total value of projects licensed. "
Iraq needs the Oeith war to investments in all sectors to rebuild the country. The aim of the government in the framework of five-year plan for economic development to attract investments worth $ 86 billion by 2014.
Among the most pressing needs, the development of the vital oil sector in Iraq and build housing and develop agriculture and increase the production of electricity to reduce the chronic shortages of supplies.
The Araji was to attract investments worth $ 23 billion since 2009 to some 542 projects licensed in various parts of the country.
Among the most projects of the National Investment ambitious, which was announced in a month last March, is to build a million new housing units with an average of $ 50 thousand dollars per unit for a total of $ 50 billion.
and reached the agreement with Hanwha South Korean engineering works and construction in May on the draft includes 100 thousand units.
Araji said he expected a another agreement to build 100 thousand housing units in Basra with a consortium led by the group (T. R. A.. K), South Korea.
He said he also hopes to reach an understanding with Hanwha and / T. R. A.. K / to adopt each of them 100 thousand units other residential.
The aim of Iraq plan for the years 2010-2014 to diversify the economy through the participation of public and private sectors in the industry and attract more investment.
Araji said that the investments in the first half of 2011 was better than the previous two years but the crisis in the euro area and the turmoil in the Arab region and the general situation of the global economy are all factors that contributed to reducing the chances of signing major deals for foreign investment.
acknowledged Araji that the corruption problem in Iraq, but said that the Authority has not received any complaints and that the government take action to combat corruption.
According to the latest annual report from Transparency International, Iraq is among the the most corrupt countries in the world.
Although the volume of foreign investment in Iraq in the first half of 2011 increased compared to the same period of 2010, reduced the debt crisis in the euro zone and revolutions Arab and the global economy opportunities signing deals major investment, as the President of the National Investment Commission.
On the subject of a link, said Planning Minister Ali Shukri, on Monday, said the government will increase the investment budget for next year to 51 billion dollars to finance new projects.
He Shukri to balance the current investment almost $ 32 billion in the general budget.
Meanwhile, the expert said the industry Jane Eisenberg who runs a company Nabors to drill oil wells that lack of equipment and skilled labor, mine is a big challenge in Iraq, in addition to the legacy of long years of war there.
He added, to discuss the quarterly results for the company based in Bermuda "In some cases we had to wait until clearance before the start of work.
Nabors and expects to start five of the rigs in Iraq by the end of this year and that number will double in 2012.
In addition, OPEC said on Friday that the price of its basket of crudes fell to 113.36 dollars a barrel on Thursday from 40. $ 113 the previous day.
The OPEC basket includes 12 types of crude oil is a mixture deserts of Algeria, Girassol Angola and the Iranian Heavy, Basra Light Iraqi crude export Kuwaiti Sidr Libya and Bonnie light Nigerian crude maritime country and Arab Light Saudi Murban UAE and Mary from Venezuela and Oriente from Ecuador.
and settled the price of Brent London Brent crude near $ 117 a barrel on Friday, but the trend seems downward with the expectation of investors and dealers to reach a decision on the problem of U.S. debt.
London Brent crude fell 32 cents to 117.04 dollars, was down U.S. crude up 57 cents to 96.87 dollars a barrel.
According to press sources informed that he still agreed to avoid default on the repayment of debt in the largest economy in the world, elusive amid internal disputes between the Republicans to prevent them from reaching a compromise with the Democrats.
In spite of the problems in the United States, the dollar rose against a basket of currencies as the euro is under pressure because of the problem European debt constant.
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