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View Full Version : Iraqi cabinet approves oil draft law


ksdunlap
05-01-2007, 01:30 PM
01 May 2007
The Iraqi Prime Minister said that the Iraqi Cabinet accepted a draft law which states how Iraq's oil profits will be shared, it will also outline terms of how foreign oil agencies will be able to operate in the country, Iraq Development Program reported.
Under the terms of the new draft law, the Iraqi National Oil Company (INOC) will be independently functional and joined with oil companies around the country.
Iraq's Deputy Prime Minister stated that the oil sector's profits will be put in a central account and distributed according to population and that the draft law will be put into action by the end of this month.

http://www.iraqupdates.com/p_articles.php/article/16965
eatrocks
05-01-2007, 01:32 PM
yea i saw that too on iraqiupdates

some more rehashed news
Weston
05-01-2007, 03:56 PM
I thought it was already passed by cabinet then it had to go to parliament?
usakidd
05-02-2007, 04:05 AM
I thought it was already passed by cabinet then it had to go to parliament?

Yeah, and in this morning news there is an article saying that it just went to parliment.

"Iraq says U.S.-backed oil law sent to parliament"


Click Here (http://www.reuters.com/article/worldNews/idUSIBO13141920070502) to see the article.

It says that there has been agreement among the political parties to work together to enact it by the end of the month.

"The KRG (Kurdish regional government) is not opposed to the draft law. On the contrary, they are very happy with the draft law."
Shau - Kenshin
05-02-2007, 04:09 AM
Now its just about the ICI and then we have a moving working soon to be growning economy!

This my friends, is what we have been waiting for!!
Just_Sayin
05-02-2007, 04:26 AM
That is re-hashed news. Don't tell me about the date on the article - IraqUpdates, MenaFN, and other sites routinely re-date old articles.

The Cabinet approved the draft of the oil law some time ago and sent it to parliament. There is where it is sitting and being debated, and has been for many weeks.

When you see an article that says "Iraqi Parliament approves oil law...", then you can twist your knickers.

Just_Sayin
AAD
05-02-2007, 04:28 AM
Now its just about the ICI and then we have a moving working soon to be growning economy!

This my friends, is what we have been waiting for!!

I hope so...