Iraqi politicians agree deal on sharing oil, says Kurd minister

[BIG WAVE]

Iraq's Kurdish leaders said last night they had struck an important deal with the central government in Baghdad over a law to divide up Iraq's oil revenues, which is seen by the Bush administration as one of the benchmarks in attempts to foster national reconciliation.


Ashti Hawrami, the minister for natural resources in the Kurdistan regional government, told the Guardian the text had been finalised late last night after 48 hours of "tough bargaining" with Baghdad. The deal represented "a genuine revenue sharing agreement" that was transparent and would benefit all the people of Iraq and help pull the country together, he said.
Iraq's oil revenue accounted for 93% of the federal budget last year. Iraq sells about 1.6m barrels a day.

Mr Hawrami said the law provided for the setting up of two "regulated and monitored" accounts into which external and internal revenues would be deposited. The external account would include items such as oil export earnings and foreign donor money, while the internal fund would consist largely of customs and taxes. The federal government in Baghdad would take what it needed, and the rest would be automatically distributed to the Kurdistan regional government, which would get 17%, and to Iraq's governorates "according to their entitlement". Revenues would be distributed monthly, he said.

Mr Hawrami said the system would better enable Iraqis to track how and where the oil funds were being spent. The Kurds, for example, have complained that remittances to their self-rule region have been being held back by up to six months in Baghdad. Iraq's Sunni Arabs had also expressed concerns that they might miss out on their share.

Iraq's finance minister, Bayan Jabr, and the oil minister, Hussein Sharistani, were accompanying the president, Jalal Talabani, on a state a visit to China and could not be contacted for comment.

The new deal came days after a visit to Iraq by the US defence secretary, Robert Gates, during which he rebuked politicians for failing to reach consensus on sharing oil revenues. The US sees the deal as a benchmark of progress toward reconciliation.
A western diplomat in Baghdad said last night: "Fair-sharing of Iraq's oil revenue is important to finding a sustainable political solution in Iraq. But on its own it will not halt the sectarianism."
http://www.guardian.co.uk/Iraq/Story/0,,2107927,00.html?gusrc=rss&feed=12

PS, Would have posted on Rocks thread but didn't want this to get too lost,.......

[Grizzly Bear]

I can't believe it!!!! I have been on the forum for 5 minutes and three articles of encouragement regarding progress!! Progress that could lead to some great things for the dinar. I gotta go make a drink!!!:drunk: :drunk:

[Crow]

I'm so happy I could cry..:crying:

[jjnolla]

Well, this definitely sounds good. However, no popping the champagne open yet until they actually annouce passage by the Iraqi Parliament.

[tpackDinar]

I'm so happy I could cry..:crying:

I'm with you Crow:happy64: :happy64:

[Crow]

Well, this definitely sounds good. However, no popping the champagne open yet until they actually annouce passage by the Iraqi Parliament.

Well, I have the bottle ready, it is close.:)

[GIXXER1000]

I can't believe it!!!! I have been on the forum for 5 minutes and three articles of encouragement regarding progress!! Progress that could lead to some great things for the dinar. I gotta go make a drink!!!:drunk: :drunk:

Well its a lot better than last night. It was Liberal City in here. it was a nightmare.

GO FRED!!!!!!!!!

[crabman]

WHOA, positively fabulous news. Even the amount the Kurds are to get. I think we are getting really really close

[crabman]

Im gonna put the Champagne on ice.....

[PraiseKingGeorge]

YIPPPEEEEE!!!!!!!!!!!!!!!!!!!!!

I'M SO HAPPY...I COULD KISS A LIBERAL!!!!!!!!!!

[oldskiier]

Wow !! that some of the best stuff I've seen in years !!!!!!! .................:happy64: ......

[Grizzly Bear]

YIPPPEEEEE!!!!!!!!!!!!!!!!!!!!!

I'M SO HAPPY...I COULD KISS A LIBERAL!!!!!!!!!!



??????????????????????HUH???

[lance]

Iraq's Kurdish leaders said last night they had struck an important deal with the central government in Baghdad over a law to divide up Iraq's oil revenues, which is seen by the Bush administration as one of the benchmarks in attempts to foster national reconciliation.


Ashti Hawrami, the minister for natural resources in the Kurdistan regional government, told the Guardian the text had been finalised late last night after 48 hours of "tough bargaining" with Baghdad. The deal represented "a genuine revenue sharing agreement" that was transparent and would benefit all the people of Iraq and help pull the country together, he said.
Iraq's oil revenue accounted for 93% of the federal budget last year. Iraq sells about 1.6m barrels a day.

Mr Hawrami said the law provided for the setting up of two "regulated and monitored" accounts into which external and internal revenues would be deposited. The external account would include items such as oil export earnings and foreign donor money, while the internal fund would consist largely of customs and taxes. The federal government in Baghdad would take what it needed, and the rest would be automatically distributed to the Kurdistan regional government, which would get 17%, and to Iraq's governorates "according to their entitlement". Revenues would be distributed monthly, he said.

Mr Hawrami said the system would better enable Iraqis to track how and where the oil funds were being spent. The Kurds, for example, have complained that remittances to their self-rule region have been being held back by up to six months in Baghdad. Iraq's Sunni Arabs had also expressed concerns that they might miss out on their share.

Iraq's finance minister, Bayan Jabr, and the oil minister, Hussein Sharistani, were accompanying the president, Jalal Talabani, on a state a visit to China and could not be contacted for comment.

The new deal came days after a visit to Iraq by the US defence secretary, Robert Gates, during which he rebuked politicians for failing to reach consensus on sharing oil revenues. The US sees the deal as a benchmark of progress toward reconciliation.
A western diplomat in Baghdad said last night: "Fair-sharing of Iraq's oil revenue is important to finding a sustainable political solution in Iraq. But on its own it will not halt the sectarianism."
http://www.guardian.co.uk/Iraq/Story/0,,2107927,00.html?gusrc=rss&feed=12

PS, Would have posted on Rocks thread but didn't want this to get too lost,.......

Watch the stocks...if it's for real they should surge.

[darock0116]

I told you guys it was going to get done!!!! Gud Stuff Big Wave!!!!! We are on our way people!!!!!:D :D

[oldskiier]

Iraq's Kurdish leaders said last night they had struck an important deal with the central government in Baghdad over a law to divide up Iraq's oil revenues, which is seen by the Bush administration as one of the benchmarks in attempts to foster national reconciliation.


Ashti Hawrami, the minister for natural resources in the Kurdistan regional government, told the Guardian the text had been finalised late last night after 48 hours of "tough bargaining" with Baghdad. The deal represented "a genuine revenue sharing agreement" that was transparent and would benefit all the people of Iraq and help pull the country together, he said.
Iraq's oil revenue accounted for 93% of the federal budget last year. Iraq sells about 1.6m barrels a day.

Mr Hawrami said the law provided for the setting up of two "regulated and monitored" accounts into which external and internal revenues would be deposited. The external account would include items such as oil export earnings and foreign donor money, while the internal fund would consist largely of customs and taxes. The federal government in Baghdad would take what it needed, and the rest would be automatically distributed to the Kurdistan regional government, which would get 17%, and to Iraq's governorates "according to their entitlement". Revenues would be distributed monthly, he said.

Mr Hawrami said the system would better enable Iraqis to track how and where the oil funds were being spent. The Kurds, for example, have complained that remittances to their self-rule region have been being held back by up to six months in Baghdad. Iraq's Sunni Arabs had also expressed concerns that they might miss out on their share.

Iraq's finance minister, Bayan Jabr, and the oil minister, Hussein Sharistani, were accompanying the president, Jalal Talabani, on a state a visit to China and could not be contacted for comment.

The new deal came days after a visit to Iraq by the US defence secretary, Robert Gates, during which he rebuked politicians for failing to reach consensus on sharing oil revenues. The US sees the deal as a benchmark of progress toward reconciliation.
A western diplomat in Baghdad said last night: "Fair-sharing of Iraq's oil revenue is important to finding a sustainable political solution in Iraq. But on its own it will not halt the sectarianism."
http://www.guardian.co.uk/Iraq/Story/0,,2107927,00.html?gusrc=rss&feed=12

PS, Would have posted on Rocks thread but didn't want this to get too lost,.......

No , but with the military and the Economic surge to go along with it it will !!!!!! come on RV !!!! I've said it for a year now ....it's all part of the plan !....

[JPmonopoly]

Good stuff BW!

Baby steps Bob!

[Crow]

Alot of people worked hard behind the scenes, thanks to all!CROW!:happy64:

[YooperVal]

This is the best dinar news ever. Now I am going to TRY to forget about it, so I get a good nights sleep. Thanks everyone!!! :happy64:

[lonelyintexas]

Great news everybody,
Hopefully we are in the home stretch.
Maybe now they can surge on all levels and get'r done.
LIT

[WellFedMonkey]

Wow you know its goods news with the Kurds and Iraqi's actually agree on something. Lets hope that the Sunni Arabs receive their portion of the revenue.

[darock0116]

Gud Stuff BIG WAVE, thought I give it some color my friend!!!!!!


Iraqi politicians agree deal on sharing oil, says Kurd minister

--------------------------------------------------------------------------------

Iraq's Kurdish leaders said last night they had struck an important deal with the central government in Baghdad over a law to divide up Iraq's oil revenues, which is seen by the Bush administration as one of the benchmarks in attempts to foster national reconciliation.


Ashti Hawrami, the minister for natural resources in the Kurdistan regional government, told the Guardian the text had been finalised late last night after 48 hours of "tough bargaining" with Baghdad. The deal represented "a genuine revenue sharing agreement" that was transparent and would benefit all the people of Iraq and help pull the country together, he said.
Iraq's oil revenue accounted for 93% of the federal budget last year. Iraq sells about 1.6m barrels a day.

Mr Hawrami said the law provided for the setting up of two "regulated and monitored" accounts into which external and internal revenues would be deposited. The external account would include items such as oil export earnings and foreign donor money, while the internal fund would consist largely of customs and taxes. The federal government in Baghdad would take what it needed, and the rest would be automatically distributed to the Kurdistan regional government, which would get 17%, and to Iraq's governorates "according to their entitlement". Revenues would be distributed monthly, he said.

Mr Hawrami said the system would better enable Iraqis to track how and where the oil funds were being spent. The Kurds, for example, have complained that remittances to their self-rule region have been being held back by up to six months in Baghdad. Iraq's Sunni Arabs had also expressed concerns that they might miss out on their share.

Iraq's finance minister, Bayan Jabr, and the oil minister, Hussein Sharistani, were accompanying the president, Jalal Talabani, on a state a visit to China and could not be contacted for comment.

The new deal came days after a visit to Iraq by the US defence secretary, Robert Gates, during which he rebuked politicians for failing to reach consensus on sharing oil revenues. The US sees the deal as a benchmark of progress toward reconciliation.
A western diplomat in Baghdad said last night: "Fair-sharing of Iraq's oil revenue is important to finding a sustainable political solution in Iraq. But on its own it will not halt the sectarianism."

[Howler]

Well, this definitely sounds good. However, no popping the champagne open yet until they actually annouce passage by the Iraqi Parliament.

The Kurds were the main sticking point!
We are getting closer! Maybe we can order that special bubbly!
( I allready have mine:shhh: )

[BILLYG]

Whether its BLACK and WHITE (BW), or RED all over (ROCK),
it's ALL GOOD!!!!!!!!:happy64: :happy64:

[Dinarespr]

Well, this definitely sounds good. However, no popping the champagne open yet until they actually annouce passage by the Iraqi Parliament.

This is practically the Green Light!! There's going to be a lot of new rich people!! I have my bubbly on hold too. :happy64: :happy64:

[crave681]

This is practically the Green Light!! There's going to be a lot of new rich people!! I have my bubbly on hold too. :happy64: :happy64:
brb, going to change shorts ...

[H2OLover]

quack .......quack ... :D

[Garf]

Wow.... who needs Prozac ?!?!?

:)

[heres-hoping]

This is the best dinar news ever. Now I am going to TRY to forget about it, so I get a good nights sleep. Thanks everyone!!! :happy64:


Good luck mate in succeeding to sleep. History is about to be made and I don't care about anything but enjoying this great news right now. Like we say here in Oz, "You beauty".

[Adster]

Excellent news, thanks BW.

[baz]

POSTED at 03-07 AM, Adster you got this bug bad man....either that or you still wet the bed:lmao:

[Adster]

POSTED at 03-07 AM, Adster you got this bug bad man....either that or you still wet the bed:lmao:

LOL baz, 9.00AM here in sunny Surrey. Not sure even a reval would stop the big man from his zzz's, moreso after a few beers, lol. Some great info overnight my friend. Remember, we got a date with some beers post rv. ;)

[baz]

LOL baz, 9.00AM here in sunny Surrey. Not sure even a reval would stop the big man from his zzz's, moreso after a few beers, lol. Some great info overnight my friend. Remember, we got a date with some beers post rv. ;) Havent forgot the Beer Date, will bring a fiver along with me....and I wont leave untill its all gone.:wave:

[Adster]

Havent forgot the Beer Date, will bring a fiver along with me....and I wont leave untill its all gone.:wave:

Sure you're not related to Gordon Brown mate?! :lmao: :lmao: :lmao:

[Shau - Kenshin]

Sure you're not related to Gordon Brown mate?! :lmao: :lmao: :lmao:


Throw a (non-alci) Ginger beer in the mix and I'm down for Designated driver.

Lets get it started!!

[Garf]

brb, going to change shorts ...

You've got til Tuesday at least :)

[jcav]

YIPPPEEEEE!!!!!!!!!!!!!!!!!!!!!

I'M SO HAPPY...I COULD KISS A LIBERAL!!!!!!!!!!


Great new? YES. Kiss a liberal? NO. You might catch something.

[williambedloe]

The fact that this report comes from a non-arablish source is progress to me! I still want to see the words "Iraqi parliament passes HCL"...then I'll get drunk

[heres-hoping]

YIPPPEEEEE!!!!!!!!!!!!!!!!!!!!!

I'M SO HAPPY...I COULD KISS A LIBERAL!!!!!!!!!!


You must be really happy then PKG :lmao:

[msmill]

This is good news. Thanks BW and for the added color Rock!!! Now maybe it's time for an RV!!! :happy64: :happy64: :happy64:

[Garf]

The fact that this report comes from a non-arablish source is progress to me! I still want to see the words "Iraqi parliament passes HCL"...then I'll get drunk

'HCL Passed' by a reputable western media outlet shall do nicely thanks.

[Stout Hearted Man]

Well, this definitely sounds good.

However, no popping the champagne open yet until they actually annouce passage by the Iraqi Parliament.




'HCL Passed' by a reputable western media outlet shall do nicely thanks.


I'm with you two.

With all the past statements the GoI has made, I'll wait till its "really" official before I get excited.

My question is how long do we think it will take them after passing the HCL to revalue their currency?? I think they will before the ISX opens...supposedly in September.

[Skyhawk]

Truly Amazing that the Kurds have agreed to something. This is a big milestone, because a lot of oil is underground in Kurd territory.

[COACH JACK]

Iraq's Kurdish leaders said last night they had struck an important deal with the central government in Baghdad over a law to divide up Iraq's oil revenues, which is seen by the Bush administration as one of the benchmarks in attempts to foster national reconciliation.


Ashti Hawrami, the minister for natural resources in the Kurdistan regional government, told the Guardian the text had been finalised late last night after 48 hours of "tough bargaining" with Baghdad. The deal represented "a genuine revenue sharing agreement" that was transparent and would benefit all the people of Iraq and help pull the country together, he said.
Iraq's oil revenue accounted for 93% of the federal budget last year. Iraq sells about 1.6m barrels a day.

Mr Hawrami said the law provided for the setting up of two "regulated and monitored" accounts into which external and internal revenues would be deposited. The external account would include items such as oil export earnings and foreign donor money, while the internal fund would consist largely of customs and taxes. The federal government in Baghdad would take what it needed, and the rest would be automatically distributed to the Kurdistan regional government, which would get 17%, and to Iraq's governorates "according to their entitlement". Revenues would be distributed monthly, he said.

Mr Hawrami said the system would better enable Iraqis to track how and where the oil funds were being spent. The Kurds, for example, have complained that remittances to their self-rule region have been being held back by up to six months in Baghdad. Iraq's Sunni Arabs had also expressed concerns that they might miss out on their share.

Iraq's finance minister, Bayan Jabr, and the oil minister, Hussein Sharistani, were accompanying the president, Jalal Talabani, on a state a visit to China and could not be contacted for comment.

The new deal came days after a visit to Iraq by the US defence secretary, Robert Gates, during which he rebuked politicians for failing to reach consensus on sharing oil revenues. The US sees the deal as a benchmark of progress toward reconciliation.
A western diplomat in Baghdad said last night: "Fair-sharing of Iraq's oil revenue is important to finding a sustainable political solution in Iraq. But on its own it will not halt the sectarianism."
http://www.guardian.co.uk/Iraq/Story/0,,2107927,00.html?gusrc=rss&feed=12

PS, Would have posted on Rocks thread but didn't want this to get too lost,.......


Awesome, just awesome....

[BIG WAVE]

WASHINGTON, June 21 Iraqi negotiators have come to an agreement on divvying up revenues from oil sales, a major, though not final breakthrough on a package of oil laws.

"The revenue sharing law has been agreed, last night," Ashti Hawrami, energy minister of the Kurdistan Regional Government, told UPI Thursday morning from a mobile phone in Baghdad. Hawrami has for the past 10 months led a delegation from the oil-rich and relatively violence-free northern Iraq region in negotiations with the federal Iraq government over a regime of four oil-related laws. They will determine the roles of the Ministry of Oil and Iraqi National Oil Co., what part of the 115 billion barrels of proven reserves the federal or local governments will control and how the proceeds from oil exports will be shared.

Iraq currently exports about 1.6 million barrels per day; last year the sales brought in more than 93 percent of the federal governments budget funds.

The revenue sharing law had taken a back seat to a law referred to as the hydrocarbons framework law, which would lay the ground work for oil control and, controversially, foreign investment.

But for the last month, Hawrami said, the revenue sharing has been on the front burner. Disagreements had been over how to split percentages and exactly the mechanism for collecting and redistributing the funds.

The new law would split revenue into external and internal accounts, to be divided between the regions -- Kurdistan is the only formal region currently -- and provinces, "after the deduction for the federal government's needs to do its federal duties," he said, "like defense and foreign office, the rest of it, which is according to the constitution." "The external will capture all the oil revenue and any other revenue -- for example donations, loans and so on," Hawrami said. "All the internal taxes and customs collected on behalf or by the federal government will go to an internal account." He said Kurdistan will be given 17 percent of those accounts, after the federal take, each month.

The KRG will publish the law Thursday on its Web site, Hawrami said. It is unclear when Parliament will take it up.

Ben Lando, UPI Energy Correspondent

http://www.earthtimes.org/articles/show/75024.html

[Garf]

Thanks BW.

That's www.krg.org folks !