Thread: Iraq/Dinar News. 09/05 to 01/14/07

everybody who believes its not finished stand on your head and shoot marbles outta your buttocks!

just read the article back there that says it was up for vote in parliament monday. im sure they didnt forget to vote on it. they just forgot to tell us what the results were, lol.

Originally Posted by kiko

International Oil Companies are Rushing to Invest
Posted on Sunday, October 01 @ 07:27:12 PDT

Source: Iraqi National Congress

Iraqi Oil Minister, Husain Ashahristani, confirmed that many big oil companies are ready to start negotiating with Iraq about developing oil fields before the new law of gas and oil is legislated. The law is expected to be ready by the end of the current year.
Minister Ashahristani officially stated: "I met with representatives of big oil companies during the meeting of OPEC in Vienna and they were ready to negotiate with us about developing our oil fields before the legislation of the gas and oil law is finished. However, the minister did not name these companies. He added that the Iraqi Oil Ministry is currently responsible for running the Iraqi Oil sector and will bound itself to one type of contracts only. This, clearly points out to the dispute over the production process and the sharing agreements. Ashahristani did not comment on what kind of contracts the Ministry will sign with these companies.

Ashahristani added: "there will be many forms of contracts specified to develop our oil fields. The Iraqi oil sector will need about 20 billion USD of investments so that it will be able to double its oil production up to 4.5 million barrel a day during the next five year." He also mentioned: "The current production of oil in Iraq is ranging between 2.3 and 2.4 million barrel a day. But, Iraq is still facing many difficulties like: the need to exhort more efforts to raise up the production rate to their pre-war levels, the deteriorating security status, bad and old technology bad weather and insufficient logistic support."

Officials in the Iraqi oil sector says that many oil fields have been discovered in the south, center, north of Iraq and they are ready to be developed. According to Asahristani, the Energy Committee in the Iraqi Government is writing down the final draft of the gas and oil law which is expected to be passed on to the Parliament before end of the current year. Ashahristani added that his new law will found a new Iraqi national oil company supervising the activities of the oil sector. According to the new law of gas and oil, the Iraqi Ministry of Oil will supervise the planning for the oil sector and design the oil policies instead of carrying out numerous oil operations which will be done by the new Iraqi National Oil Company. The establishing of the new Company was already suggested two years ago by the ex-minister of Iraqi Oil, Thamir Al-Ghadhban.

The previous Iraqi National Oil Company was converted to a ministry run by the ex-dictator Saddam Husain in 1987. The role of the new Company will concentrate on: determining the important decisions and policies, strategic planning for the Iraqi Oil industry as well as dealing with international relations and oil investments which include production, exportation and excavation.

Link: LawkSalih.Com - International Oil Companies are Rushing to Invest

I can remember articles that i read that it was China that wanted to go without a law and big companies where waiting until the law was ready.

The statement "according to the new law" in combination with the starting of negotiations of big oil companies could mean that the law is ready, only needs to be approved but that the approval would not effect the contracts and the games can begin.

Then I also bumped in to this (a quote):

Given the pressures involved, perhaps the Minister felt he did not have much choice. His promise to pass the law through parliament by the end of 2006 was set in Iraq's agreement with the International Monetary Fund last December. According to that agreement, IMF officials would also review and comment on a draft in September.

And still, the draft law has not been seen by the Iraqi parliament. Meanwhile, an official from the Oil Ministry has stated that Iraqi civil society and the general public will not be consulted at all.

Link: Foreign Policy In Focus | Oil Pressure

This means speed it up and give it a go as soon as possible. This law is top priority now!!!!

Originally Posted by kiko

AmCham-Iraq to host hydrocarbon laws summitsPosted on Monday, October 02 @ 17:53:14 PDT

The American Chamber of Commerce of Iraq (AmCham-Iraq) has announced plans for industry-government summits on the proposed hydrocarbon laws (oil and gas laws) of Iraq and the Kurdistan Regional Government (KRG) to take place in Amman, Jordan and Erbil, Iraq during the fourth quarter of 2006.

These events - the first of their kind - are designed to further the dialogue between global and regional oil companies interested in participating in the development of the Iraqi upstream and downstream oil sectors and officials of the governments of the Iraq and the Kurdistan Regional Government who are taking the lead in developing and enacting the hydrocarbon laws that will control outside investment and development in Iraq's massive oil sector, said a spokesman.
These events are being organised by AmCham-Iraq with the assistance of the Iraq Development Programme (IDP). IDP is a member of AmCham-Iraq and a leader in organising Iraq development summits at which industry and government officials have opportunities to confer face-to-face.

With the new hydrocarbon laws of Iraq now being prepared and considered, these planned AmCham-Iraq summits in Amman and Erbil provide a unique and timely opportunity for senior industry leaders worldwide to voice views of what is desired and needed in the upstream and downstream laws.

Initially in Amman, details of this process will be explained and leading oil and gas executives will have the opportunity to comment on the forthcoming legislation.

Feedback will be filtered through AmCham Iraq and presented to the legislative decision making authorities in Iraq.

Under AmCham-Iraq planning, the high-level summit in Amman will be followed by a two-day summit in Erbil with the Kurdistan Regional Government (KRG). Here there will be an opportunity to obtain the latest information on the KRG proposed hydrocarbon law and to engage in private one-on-one meetings with KRG senior decision makers.

This train cannot be stopped anymore. Fasten your seatbelts!!!!

link: LawkSalih.Com - AmCham-Iraq to host hydrocarbon laws summits

i believe the hydro-carbon laws are those which regulate the importing of gas/oil products which they dont currently have the finished production of.

Originally Posted by opps50

What are you going to do after the reval Sus?

I guess you will miss the forums and the seeking after news in iraq (HELL NO!)

Let´s hope it won´t reval LOL

The House resumes its normal tomorrow to discuss a number of draft laws

The House resumes its normal tomorrow to discuss a number of draft laws. During yesterday's meeting the second reading of the law on investment and operational procedures for the formation of regions. The meeting also witnessed significant differences of the members of Parliament on the draft law of the provinces, which led the Board to resort to the legal committee and the Committee of the Regions, to resolve the dispute. After reading the two decided the bill, which was read as the first, with the inclusion of the controversial views of the project, provided that they were not in violation of the Constitution. After Almshahadani suggested to the Committee on Non meeting and the election of Chairman after a meeting between the deputies films on the subject.


NOAA
10/3/2006

Does this mean they're restarting the clock again, needing another second reading and 4 day wait to vote?

Originally Posted by opps50

So, the investment law (FIL) has not been passed yet, 2:nd reading??

2ND READING OF THE OIL INVESTMENT LAW
gotta keep track coz they dont always specify which one they are talkin about. the fil was done a few weeks back coz the news on the fil STOPPED, not a peep, but lots about the oil one and other stuff.
besides, when refering to the fil they call it the foreign investment law. the oil investment law is refered to as the investment law.

the law on investment and operational procedures for the formation of regions

Yes, it would help if the reports were more clear. I usually try to get the big picture idea out of the articles rather than parsing sentences, especially with the mechanically translated articles.

How do you say "Hurry up already!" in Arabic?

Originally Posted by zipper

The House resumes its normal tomorrow to discuss a number of draft laws

The House resumes its normal tomorrow to discuss a number of draft laws. During yesterday's meeting the second reading of the law on investment and operational procedures for the formation of regions. The meeting also witnessed significant differences of the members of Parliament on the draft law of the provinces, which led the Board to resort to the legal committee and the Committee of the Regions, to resolve the dispute. After reading the two decided the bill, which was read as the first, with the inclusion of the controversial views of the project, provided that they were not in violation of the Constitution. After Almshahadani suggested to the Committee on Non meeting and the election of Chairman after a meeting between the deputies films on the subject.


NOAA
10/3/2006

Does this mean they're restarting the clock again, needing another second reading and 4 day wait to vote?

no, they had the second reading of the territories law on monday. the article on sunday said they were going to vote on the oil law monday which would be past the 2nd reading of it, but of course if they now say it was only the 2nd readin people dont wonder what happened with the vote. they are so sneaky... NOT.

Originally Posted by zipper

the law on investment and operational procedures for the formation of regions

Yes, it would help if the reports were more clear. I usually try to get the big picture idea out of the articles rather than parsing sentences, especially with the mechanically translated articles.

How do you say "Hurry up already!" in Arabic?

Oct 4, 2006 — BAGHDAD (Reuters) - Iraq's industry minister survived a double bomb attack on his convoy in central Baghdad on Wednesday that killed at least nine people and wounded around 51 others, police and Interior Ministry sources said.

One police source put the toll at 11 dead and 74 wounded. The industry minister in the four-month old national unity government is Fawzi al-Hariri, from the Kurdish bloc. Police, however, did not name the minister in the attack.

Thank fack for that don't want to replace him at this stage.

Originally Posted by shotgunsusie

no, they had the second reading of the territories law on monday. the article on sunday said they were going to vote on the oil law monday which would be past the 2nd reading of it, but of course if they now say it was only the 2nd readin people dont wonder what happened with the vote. they are so sneaky... NOT.

I haven't been able to follow along lately--I'm sooo glad y'all are keeping track of what's what and keeping us posted. To say I appreciate it is a serious understatement!!!