The new oil before the Iraqi Parliament

[Adster]

Thanks Jedi. ;)

Source : CNN-23/06/2007

The Iraqi Oil Ministry of the Iraqi parliament to start discussing a draft bill governing the distribution of oil revenue from the oil resources of Iraq.

The request comes the Iraqi oil ministry amid claims that the administration of President George W. Bush's Iraqi Parliament to expedite steps to realize this important legislation.

The Ministry hopes to begin Iraqi Parliament to discuss the draft in the coming days, according to ministry spokesman Assem Jihad.

Although Iraqi Oil Minister Hussein Shahrastani out of the country on an official visit to China, accompanied by President Jalal Talabani, the parliament can begin to discuss the law before the return of the minister, as stated by Asim.

The request comes Iraqi Oil Ministry this central claim of President Bush's Iraqi Parliament to expedite steps to realize this important legislation.

The parliament has been sharply criticized for planning vacation for two months.

It said Iraqi Foreign Minister Hoshyar Zebari pw CNN last Sunday that Parliament agreed to "reduce vacation to one week or maybe two weeks."

The Congress had called on legislators to leave 18 Iraqis politically legislation on the agenda before the Iraqi parliament in September.

It is this legislation, the law governing the distribution of oil revenues for the country, and the law includes amending the constitutional articles that allow the establishment of federal law, which allows former members of the Iraqi Baath party disbanded return to their jobs Assembly.

It is noteworthy that the Iraqi Parliament, at the invitation of the Iraqi Business Council, organized last April a seminar in Dubai to discuss the draft law on new oil and gas.

At the symposium criticized Ahti Hourani and Petroleum Minister of the Kurdistan new law because of its emphasis on decentralized decision Oil, and guaranteed by a restructuring of the Iraqi National Oil Company.

The reviving of the national oil company of Iraq and the establishment of a common fund for oil revenues prominent features of this law, in addition to the new division of oil wells, where they will be granted production rights in 52 oil wells to a national company, will compete with foreign companies to invest 26 wells human unproductive after alongside Neil exploration licenses.

As for the criteria, which would distribute oil revenues, the law on two main criteria, namely number of residents maintain first, and by the damage suffered during the previous regime or in the events that followed.

[coconut]

CNN grabed this I see - must be something going on.

[redvette]

I cannot figure why they do not just put a number on their monies now. Before they start to sell off oil, gas . They know they have enough resources to back the money. So "ANYONE" explain to me why they do not do this now. Just say the dinar is now valued to 5 Cents to the dollar and is on the global market such as the forex. Would it not benifit them to do this now. It would show the people of Iraq their money is now worth something and to let them know it is recognize by all. Plus it might actually show their government that once it hits, say the forex it should go up right away. This would then show them that they have been wasting time and they might actually wake up.
Somebody here might be able to make some sense to me if you have the time ...Please.
Thanks ED

[redvette]

I mean does it matter if the laws are passed already, don't you all think they know the money is worth more?
We all are waiting for these laws to passed, but what if they pass them and still no change in their Dinar rate. Lets say they are that uneducated and think it is already at a good level. I mean the old rate which was .33 is a no brainer just to start it there and now for the people. I just do not get it.
Most of the people are fighting because they have no money or it is worth nothing.
I belive the government is taking so long and is dragging their feet. I belive they are doing this to make the USA look bad and maybe just maybe hope this gives the bad guys more time to regroup.
I also think that IRAN is really the whole dam problem and is keep this government under some kind of puppet control.I read this morning that Iran is trying to turn the clock back on their own people. This is getting ugly and I think it is time for all to address Iran once and for all.

[redvette]

To put a value on the money now would make the people stand up now already. We all are waiting for this rate to go up, I bet the people are also wondering "WHATS UP"
So we wait and wait for the laws to be passed to trade oil etc.
What about the guy buying food now for his family.
I don't see something.......

[coconut]

They need to audit their reserves - figure out what is really there - then they can decide on a reval.

Until the HCL is passed the people that can perform this are not going to get invloved.

[tiffanbean]

Thanks Jedi. ;)

Source : CNN-23/06/2007

The Iraqi Oil Ministry of the Iraqi parliament to start discussing a draft bill governing the distribution of oil revenue from the oil resources of Iraq.

The request comes the Iraqi oil ministry amid claims that the administration of President George W. Bush's Iraqi Parliament to expedite steps to realize this important legislation.

The Ministry hopes to begin Iraqi Parliament to discuss the draft in the coming days, according to ministry spokesman Assem Jihad.

Although Iraqi Oil Minister Hussein Shahrastani out of the country on an official visit to China, accompanied by President Jalal Talabani, the parliament can begin to discuss the law before the return of the minister, as stated by Asim.

The request comes Iraqi Oil Ministry this central claim of President Bush's Iraqi Parliament to expedite steps to realize this important legislation.

The parliament has been sharply criticized for planning vacation for two months.

It said Iraqi Foreign Minister Hoshyar Zebari pw CNN last Sunday that Parliament agreed to "reduce vacation to one week or maybe two weeks."

The Congress had called on legislators to leave 18 Iraqis politically legislation on the agenda before the Iraqi parliament in September.

It is this legislation, the law governing the distribution of oil revenues for the country, and the law includes amending the constitutional articles that allow the establishment of federal law, which allows former members of the Iraqi Baath party disbanded return to their jobs Assembly.

It is noteworthy that the Iraqi Parliament, at the invitation of the Iraqi Business Council, organized last April a seminar in Dubai to discuss the draft law on new oil and gas.

At the symposium criticized Ahti Hourani and Petroleum Minister of the Kurdistan new law because of its emphasis on decentralized decision Oil, and guaranteed by a restructuring of the Iraqi National Oil Company.

The reviving of the national oil company of Iraq and the establishment of a common fund for oil revenues prominent features of this law, in addition to the new division of oil wells, where they will be granted production rights in 52 oil wells to a national company, will compete with foreign companies to invest 26 wells human unproductive after alongside Neil exploration licenses.

As for the criteria, which would distribute oil revenues, the law on two main criteria, namely number of residents maintain first, and by the damage suffered during the previous regime or in the events that followed.


this article stills makes me mad!!! this part especially

The Ministry hopes to begin Iraqi Parliament to discuss the draft in the coming days, according to ministry spokesman Assem Jihad.

Although Iraqi Oil Minister Hussein Shahrastani out of the country on an official visit to China, accompanied by President Jalal Talabani, the parliament can begin to discuss the law before the return of the minister, as stated by Asim.

Still dicussing not passing. Stop talking and pass the freckin law already!!!!:no:

[nomad33]

I cannot figure why they do not just put a number on their monies now...

Monday (6/25/07), they bought a little over 160 billion dinar with just under 128 million dollars. If you were in their place knowing that a reval is going to occur soon, would you hurry the reval or drag it out as long as you could to make a few more billion first? A few more sessions of this, and this could turn into real money...heheh.
Just like a child, they will test how far they can go just as long as allowed to get by with it. Question is...how long will they be allowed to continue before we stop protecting inaction in passing the laws and making a few richer at the expense of lives and suffering?
IMHO, not much longer...and they know it. Patience is growing thin enough to allow heads to roll...figuratively or literally.

[heres-hoping]

They've had agreement with regards to oil revenue sharing which was the big snag in the hold up of the HCL and had announced it had gone to Parliament. Once at Parliament, the HCL would go through three readings before becoming law right? When they say "discuss", can this just mean the start of these "readings"?

[F-12]

I mean does it matter if the laws are passed already, don't you all think they know the money is worth more?
We all are waiting for these laws to passed, but what if they pass them and still no change in their Dinar rate. Lets say they are that uneducated and think it is already at a good level. I mean the old rate which was .33 is a no brainer just to start it there and now for the people. I just do not get it.
Most of the people are fighting because they have no money or it is worth nothing.
I belive the government is taking so long and is dragging their feet. I belive they are doing this to make the USA look bad and maybe just maybe hope this gives the bad guys more time to regroup.
I also think that IRAN is really the whole dam problem and is keep this government under some kind of puppet control.I read this morning that Iran is trying to turn the clock back on their own people. This is getting ugly and I think it is time for all to address Iran once and for all.Iran has been pulling the strings from day one....!