Hue Mi
12-25-2011, 09:54 PM
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Carnegie Institute: oil revenue law a major step to strengthen accountability within the government of Kurdistan (http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.uragency.net/ur/news.php%3Fcat%3Deconomic%26id%3D7006)
24/12/2011 16:29
Washington / Orr News
For as long as the description concerned the oil sector of Iraqi Kurdistan, as the last land border in the world are not drilling for oil there. Since the open area in front of prospectors for oil, after the fall of Saddam Hussein's regime in 2003, it was found that the region falls short of the expectations that I talked about the existence of ample amount of oil in it.
The estimates, "U.S. Geological Survey" in 2007 that the average reserve Kurdistan alone, more than 45 billion barrels of oil, and 3 6 trillion cubic meters of natural gas.
In that year, when the discussion was about the oil and gas laws (as well as revenue sharing), blocked by a wall in Baghdad and the Kurdistan Regional Government has developed its own legislation on oil and gas, donating about 40 contracts to companies from more than 17 countries.
In the meantime, under the central federal government seeks to impose a centralized oil sector, the KRG has accused Baghdad of corruption, claiming that the production-sharing contracts signed by this government with foreign companies is unconstitutional.
A key issue that focused on Baghdad, in this context the issue of transparency. Have criticized these contracts because they were not made public and therefore can not be recognized.
According to Xuan Zolal researcher at the Carnegie Foundation U.S. government under the chairmanship of the region, Barham Salih, has taken in recent months, unprecedented steps to increase transparency.
In September published the majority of the production-sharing contracts, and in the fifth of December the current rate approved a draft law on oil and gas revenues, which represents a major step towards strengthening accountability within the government of the Kurdish semi-autonomy.
It is true that efforts have been made in the past to increase transparency, but the competing bills, provided by both the government and the parliamentary energy committee, has failed to determine explicitly the requirements of transparency.
Perhaps the bill, which carries the benefit of his brigade establishes a new standard.
He says that the proposed bill would institutionalize the mechanism for the granting of contracts, which lacked up to now to transparency, and the granting of the House greater control over the hydrocarbon industries, and the establishment of an executive government chooses its members assume management and control of fund oil and gas revenues and the duration of the mandate of four years.
The accounts of this body shall be credited in foreign currency, the Iraqi dinar.
Under the law, apply these arrangements also imports relevant financial (derivatives of oil and gas, and grants derived from decades of oil and gas, and other customizations granted by the central government sector, which aims to protect the environment), what constitutes a differentiated pointing out all the previous procedures where the political forces two primary (Patriotic Union of Kurdistan and the Kurdistan Democratic Party) meet, specifically to make decisions to pay.
Moreover, the Committee will fund revenues of the parliamentary oil and gas revenues to finance investment in reconstruction projects and infrastructure, and will be distributed to the Kurdish provinces according to their population.
As well as the body can control and management of the Fund to make recommendations for the implementation of various projects and the allocation of funds for them, after approval by the House of Representatives.
But does not allow the use of the Fund's projects are not contracted yet, and is not included within the annual budget of the Kurdistan Regional Government, which put an end to the most influential political parties in order to withdraw capital projects ratified by unilaterally.
Furthermore, the oil and gas sector, as well as local infrastructure projects, the first beneficiary of this fund. In one of the main clauses, it is proposed the draft law is also a well-known international accounting firm audited the accounts independently in each year, making it the Fund most transparent in the region.
And the law on the other hand, equally important, it stipulates the need to establish "fund to support future generations of the territory", which is deposited a certain percentage of oil revenues obtained, and be like a sovereign fund. It also provides evidence of the establishment of this fund that the government of Kurdistan has become mature enough for long term planning, rather than just short-term solutions to persistent problems.
This bill, made by Saleh is the latest point of tension in the process of tightening the ropes between the KRG and the central government in Baghdad.
Since 2003, the first position very clear that it wants to develop its oil sector, independent of federal control. Hussein al-Shahristani, has become, Deputy Prime Minister for the oil, a symbol of opposition to the Kurdish position.
Have strongly opposed attempts by the Kurds to take control of their own on their sector oil independent, as developed by his views on a collision course with drastically, and the Minister of Natural Resources in the Kurdistan Regional Government.
Try Shahristani prevent oil companies from entering the Kurdistan region by threatening Baqsaúha from the rest of Iraqi areas, while attracting Hawrami companies to the region offer of a number of lucrative deals that have been until recently the preserve of investors, the most daring, but now attracts now many of the major oil companies.
In development is an extremely important, and signed "Exxon Mobil" contract with the Kurdish government last October, allows it to prospect for oil and gas in 6 areas in the northern region, has angered many in Baghdad. Although Baghdad has denounced the contract, but it may be the factor that will contribute to resolving the impasse.
Carnegie Institute: oil revenue law a major step to strengthen accountability within the government of Kurdistan (http://translate.google.com/translate?hl=en&sl=ar&tl=en&u=http://www.uragency.net/ur/news.php%3Fcat%3Deconomic%26id%3D7006)
24/12/2011 16:29
Washington / Orr News
For as long as the description concerned the oil sector of Iraqi Kurdistan, as the last land border in the world are not drilling for oil there. Since the open area in front of prospectors for oil, after the fall of Saddam Hussein's regime in 2003, it was found that the region falls short of the expectations that I talked about the existence of ample amount of oil in it.
The estimates, "U.S. Geological Survey" in 2007 that the average reserve Kurdistan alone, more than 45 billion barrels of oil, and 3 6 trillion cubic meters of natural gas.
In that year, when the discussion was about the oil and gas laws (as well as revenue sharing), blocked by a wall in Baghdad and the Kurdistan Regional Government has developed its own legislation on oil and gas, donating about 40 contracts to companies from more than 17 countries.
In the meantime, under the central federal government seeks to impose a centralized oil sector, the KRG has accused Baghdad of corruption, claiming that the production-sharing contracts signed by this government with foreign companies is unconstitutional.
A key issue that focused on Baghdad, in this context the issue of transparency. Have criticized these contracts because they were not made public and therefore can not be recognized.
According to Xuan Zolal researcher at the Carnegie Foundation U.S. government under the chairmanship of the region, Barham Salih, has taken in recent months, unprecedented steps to increase transparency.
In September published the majority of the production-sharing contracts, and in the fifth of December the current rate approved a draft law on oil and gas revenues, which represents a major step towards strengthening accountability within the government of the Kurdish semi-autonomy.
It is true that efforts have been made in the past to increase transparency, but the competing bills, provided by both the government and the parliamentary energy committee, has failed to determine explicitly the requirements of transparency.
Perhaps the bill, which carries the benefit of his brigade establishes a new standard.
He says that the proposed bill would institutionalize the mechanism for the granting of contracts, which lacked up to now to transparency, and the granting of the House greater control over the hydrocarbon industries, and the establishment of an executive government chooses its members assume management and control of fund oil and gas revenues and the duration of the mandate of four years.
The accounts of this body shall be credited in foreign currency, the Iraqi dinar.
Under the law, apply these arrangements also imports relevant financial (derivatives of oil and gas, and grants derived from decades of oil and gas, and other customizations granted by the central government sector, which aims to protect the environment), what constitutes a differentiated pointing out all the previous procedures where the political forces two primary (Patriotic Union of Kurdistan and the Kurdistan Democratic Party) meet, specifically to make decisions to pay.
Moreover, the Committee will fund revenues of the parliamentary oil and gas revenues to finance investment in reconstruction projects and infrastructure, and will be distributed to the Kurdish provinces according to their population.
As well as the body can control and management of the Fund to make recommendations for the implementation of various projects and the allocation of funds for them, after approval by the House of Representatives.
But does not allow the use of the Fund's projects are not contracted yet, and is not included within the annual budget of the Kurdistan Regional Government, which put an end to the most influential political parties in order to withdraw capital projects ratified by unilaterally.
Furthermore, the oil and gas sector, as well as local infrastructure projects, the first beneficiary of this fund. In one of the main clauses, it is proposed the draft law is also a well-known international accounting firm audited the accounts independently in each year, making it the Fund most transparent in the region.
And the law on the other hand, equally important, it stipulates the need to establish "fund to support future generations of the territory", which is deposited a certain percentage of oil revenues obtained, and be like a sovereign fund. It also provides evidence of the establishment of this fund that the government of Kurdistan has become mature enough for long term planning, rather than just short-term solutions to persistent problems.
This bill, made by Saleh is the latest point of tension in the process of tightening the ropes between the KRG and the central government in Baghdad.
Since 2003, the first position very clear that it wants to develop its oil sector, independent of federal control. Hussein al-Shahristani, has become, Deputy Prime Minister for the oil, a symbol of opposition to the Kurdish position.
Have strongly opposed attempts by the Kurds to take control of their own on their sector oil independent, as developed by his views on a collision course with drastically, and the Minister of Natural Resources in the Kurdistan Regional Government.
Try Shahristani prevent oil companies from entering the Kurdistan region by threatening Baqsaúha from the rest of Iraqi areas, while attracting Hawrami companies to the region offer of a number of lucrative deals that have been until recently the preserve of investors, the most daring, but now attracts now many of the major oil companies.
In development is an extremely important, and signed "Exxon Mobil" contract with the Kurdish government last October, allows it to prospect for oil and gas in 6 areas in the northern region, has angered many in Baghdad. Although Baghdad has denounced the contract, but it may be the factor that will contribute to resolving the impasse.