Oil Law Passed as of Today ???? It is on the Aswat Aliraq site ...??

[oldskiier]

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Quote:
Originally Posted by oldskiier http://www.investorsiraq.com/images/buttons/viewpost.gif (http://www.investorsiraq.com/showthread.php?p=434029#post434029)
what are you talking about ???? you better have a link !!!

It is on the Aswat Aliraq site I don't no how to get the link over to the forum.
On todays news and says approved as of today.!:happy64:




This needed it own thread so we can find out if this is true !!!!

[Grizzly Bear]

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Quote:
Originally Posted by oldskiier http://www.investorsiraq.com/images/buttons/viewpost.gif (http://www.investorsiraq.com/showthread.php?p=434029#post434029)
what are you talking about ???? you better have a link !!!

It is on the Aswat Aliraq site I don't no how to get the link over to the forum.
On todays news and says approved as of today.!:happy64:




This needed it own thread so we can find out if this is true !!!!

Here is an article I found, but is it the HCL or something else?


Parliament approves oil refineries investment law Baghdad - Voices of Iraq

Tuesday , 24 /07 /2007 Time 6:15:45 </B>
Baghdad, July 24, (VOI)- The Iraqi parliament approved on Tuesday the draft oil refineries investment law during the session chaired by the first Deputy Speaker Khaled al-Attiyah.
The law came within a string of draft laws presented to the parliament, which try to finish voting them before the summer recess.
Prime Minister Nouri al-Maliki called on the parliament last Saturday to cancel the recess or decrease it to vote the pending draft laws, including the draft oil and gas law, in addition to the possible ministerial reshuffle.
The Iraqi House of Representatives will go on a month-long-vacation as early as August.
The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital.
The companies, according to the law, have to appoint 75% of the workforce from the Iraqi people in the project.
The companies also will lay pipelines, while the Iraqi oil ministry will set up checkpoints to monitor and protect these pipelines.
According to the approved law, the companies have to make and submit reports on its work to the ministry.
They have also the right to lease lands to set up refineries.
Iraq sits on the world's third-largest oil reserves and officials have sought, since last year, to finalize the draft law.
The law is vital for attracting foreign investment to Iraq, to boost its oil output and rebuild its economy.
The oil ministry will monitor the companies' works through a committee, composed of representatives from a number of ministries, chaired by a senior official from the oil ministry.

[HPU-103]

OIL INVESTMENT LAW IS APPROVED,SWeeeeeEEEEEEEEEEETTTTTTTTTT!
Now RV soon? Is that correct?
I need a new borla muffler and headlights for myself.

[Cecil_B_Dinar]

Seems odd that they would allow foreign companies to invest in, and build, refineries without allowing them to drill for the oil also. Could this be a harbinger of things to come?

[traveler]

Thanks OS i new you would dig into it:happy64:

[Valuedcheese]

PUK parliament's members leave session during oil law debate Sulaimaniya - Voices of Iraq

Tuesday , 24 /07 /2007 Time 9:22:41
http://66.111.34.180/look/english/article.tpl?IdLanguage=1&IdPublication=4&NrArticle=51127&NrIssue=2&NrSection=1
Sulaimaniya, July 24, (VOI)- The Patriotic Union of Kurdistan (PUK) bloc in Kurdistan parliament walked out of the session hall in Arbil while discussing the draft oil and gas law, the matter that led to the adjournment of the session, a member of the parliament in Iraq's Kurdistan region said on Tuesday.


"The PUK demanded at the beginning of the session to postpone discussing the draft oil and gas law in Kurdistan because it is an important law and should not be approved during an extraordinary session and during the parliament's recess, but the request was rejected and the PUK members left the session," Arez Abdullah told the independent news agency Voices of Iraq (VOI).
The parliament of Kurdistan consists of two main blocs: the green bloc of the Patriotic Union of Kurdistan, headed by President Jalal Talabani and the yellow bloc of the Kurdistan Democratic Party headed by Iraq's Kurdistan President Massoud Barazani, in addition to other parties.
"The PUK members left the session because they believed that the law is very important as it tackles extracting, refining and selling oil and gas and discussing such a law needs time," the lawmaker added, noting that the bloc demanded the postponement of the discussion but the parliament chairmanship rejected the request.
"Other members of the parliament left the session also leading to the adjournment of the session," he added.
Kurdistan's parliament has 111 members.
The parliament called its members yesterday to attend the extraordinary session to discuss the draft oil and gas law in Kurdistan, despite the parliament's vacation which started on July 1 and continue till early September.
The draft oil and gas law for the management of oil resources is considered one of the most controversial issues in Iraq, and there are differences among political blocs on the law regarding the equitable distribution of revenue.
Most of Iraq's known oil reserves are located in the Shiite-dominated south and the Kurdish north.
Iraq sits on the world's third-largest oil reserves and officials have sought, since last year, to finalize the draft law.
Recent disputes have arisen after Iraq’s oil ministry warned regions in late April against signing contracts until the law was passed.
The Kurdistan regional government has signed several agreements with foreign companies.

[patrick39]

I think this is the link he is talking about.

http://www.aswataliraq.info/look/english/article.tpl?IdLanguage=1&IdPublication=4&NrArticle=51122&NrIssue=2&NrSection=2





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Quote:
Originally Posted by oldskiier http://www.investorsiraq.com/images/buttons/viewpost.gif (http://www.investorsiraq.com/showthread.php?p=434029#post434029)
what are you talking about ???? you better have a link !!!

It is on the Aswat Aliraq site I don't no how to get the link over to the forum.
On todays news and says approved as of today.!:happy64:




This needed it own thread so we can find out if this is true !!!!

[calstar]

Thanks OS could this be it :)

[zimbu]

http://www.leadpipeposters.com/images/1557.jpg

http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/focusoniraq/2007/July/focusoniraq_July111.xml&section=focusoniraq



Iraq parl’t approves law on oil refineries
(Reuters)

24 July 2007



BAGHDAD - Iraq’s parliament on Tuesday approved a draft law that opens the way for foreign companies to build and operate oil refineries in the country.
According to the law, regional governments and provincial authorities will be able to deal individually with foreign companies, sign contracts and award licences for the construction of refineries.
The Law on Investing and Refining Crude Oil is separate from a draft hydrocarbons law that will govern overall exploration and production and which is seen as crucial to bridging the deep sectarian divide in Iraq.
The draft hydrocarbon law has been submitted to parliament but has yet to be debated by the full legislature. Iraqi television showed parliamentarians approving the refining law.
The Iraqi Oil Ministry should supply crude oil to the investing companies according to export price of Iraqi crude, minus the cost of moving the oil to the nearest delivery point to the refinery and a one percent discount, the laws says.
Investing companies have the right to set the prices of refined oil, the law says, and sell the refined oil both within Iraq and externally.
Investing companies will be able to use Iraqi storage, port and pipeline facilities for export, according to contracts to be signed by the two parties.


Zimmer

[WellFedMonkey]

The link says its the oil investment law. Isn't the HCL composed of 4 different laws or sections that need to be approved?

[newpactdinars]

Here is an article i found, but is it the HCL or soemthing else?



Parliament approves oil refineries investment law Baghdad - Voices of Iraq

Tuesday , 24 /07 /2007 Time 6:15:45 </B>

Baghdad, July 24, (VOI)- The Iraqi parliament approved on Tuesday the draft oil refineries investment law during the session chaired by the first Deputy Speaker Khaled al-Attiyah.
The law came within a string of draft laws presented to the parliament, which try to finish voting them before the summer recess.
Prime Minister Nouri al-Maliki called on the parliament last Saturday to cancel the recess or decrease it to vote the pending draft laws, including the draft oil and gas law, in addition to the possible ministerial reshuffle.
The Iraqi House of Representatives will go on a month-long-vacation as early as August.
The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital.
The companies, according to the law, have to appoint 75% of the workforce from the Iraqi people in the project.
The companies also will lay pipelines, while the Iraqi oil ministry will set up checkpoints to monitor and protect these pipelines.
According to the approved law, the companies have to make and submit reports on its work to the ministry.
They have also the right to lease lands to set up refineries.
Iraq sits on the world's third-largest oil reserves and officials have sought, since last year, to finalize the draft law.
The law is vital for attracting foreign investment to Iraq, to boost its oil output and rebuild its economy.
The oil ministry will monitor the companies' works through a committee, composed of representatives from a number of ministries, chaired by a senior official from the oil ministry.




Seems like this is just part of the package of laws that needed to be approved. Doesn't seem like the HCL. Anyways, tis souns prety good.

[richsoon]

BAGHDAD - Iraq’s parliament on Tuesday approved a draft law that opens the way for foreign companies to build and operate oil refineries in the country.
According to the law, regional governments and provincial authorities will be able to deal individually with foreign companies, sign contracts and award licences for the construction of refineries.
The Law on Investing and Refining Crude Oil is separate from a draft hydrocarbons law that will govern overall exploration and production and which is seen as crucial to bridging the deep sectarian divide in Iraq.
The draft hydrocarbon law has been submitted to parliament but has yet to be debated by the full legislature. Iraqi television showed parliamentarians approving the refining law.
The Iraqi Oil Ministry should supply crude oil to the investing companies according to export price of Iraqi crude, minus the cost of moving the oil to the nearest delivery point to the refinery and a one percent discount, the laws says.
Investing companies have the right to set the prices of refined oil, the law says, and sell the refined oil both within Iraq and externally.
Investing companies will be able to use Iraqi storage, port and pipeline facilities for export, according to contracts to be signed by the two parties.


Zimmer


Beginning stages of enactment. The next couple of weeks are going to be very interesting!!!:happy64: :happy64:

[Wellington]

Iraq parl’t approves law on oil refineries
(Reuters)

24 July 2007

http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/focusoniraq/2007/July/focusoniraq_July111.xml&section=focusoniraq

BAGHDAD - Iraq’s parliament on Tuesday approved a draft law that opens the way for foreign companies to build and operate oil refineries in the country.
According to the law, regional governments and provincial authorities will be able to deal individually with foreign companies, sign contracts and award licences for the construction of refineries.
The Law on Investing and Refining Crude Oil is separate from a draft hydrocarbons law that will govern overall exploration and production and which is seen as crucial to bridging the deep sectarian divide in Iraq.
The draft hydrocarbon law has been submitted to parliament but has yet to be debated by the full legislature. Iraqi television showed parliamentarians approving the refining law.
The Iraqi Oil Ministry should supply crude oil to the investing companies according to export price of Iraqi crude, minus the cost of moving the oil to the nearest delivery point to the refinery and a one percent discount, the laws says.
Investing companies have the right to set the prices of refined oil, the law says, and sell the refined oil both within Iraq and externally.
Investing companies will be able to use Iraqi storage, port and pipeline facilities for export, according to contracts to be signed by the two parties.

[Goes4ever]

looking good OS, thanks!

[buck74]

This is a small part, but at least it is a beginning. This is what they need to do, approve the things they can agree on, then continue to work on the harder stuff. jmo

[zimbu]

this is only a PART OF THE OIL LAW NOT THE ENTIRE THING!

Well at least they passed SOMETHING , other than the gas they have been passing for 5 years... :eek:


Zimmer

[Okie]

http://www.leadpipeposters.com/images/1557.jpg

http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/focusoniraq/2007/July/focusoniraq_July111.xml&section=focusoniraq



Iraq parl’t approves law on oil refineries
(Reuters)

24 July 2007



BAGHDAD - Iraq’s parliament on Tuesday approved a draft law that opens the way for foreign companies to build and operate oil refineries in the country.
According to the law, regional governments and provincial authorities will be able to deal individually with foreign companies, sign contracts and award licences for the construction of refineries.
The Law on Investing and Refining Crude Oil is separate from a draft hydrocarbons law that will govern overall exploration and production and which is seen as crucial to bridging the deep sectarian divide in Iraq.
The draft hydrocarbon law has been submitted to parliament but has yet to be debated by the full legislature. Iraqi television showed parliamentarians approving the refining law.
The Iraqi Oil Ministry should supply crude oil to the investing companies according to export price of Iraqi crude, minus the cost of moving the oil to the nearest delivery point to the refinery and a one percent discount, the laws says.
Investing companies have the right to set the prices of refined oil, the law says, and sell the refined oil both within Iraq and externally.
Investing companies will be able to use Iraqi storage, port and pipeline facilities for export, according to contracts to be signed by the two parties.


Zimmer

Good news!!! It truly is interesting that the investing companies can set the price of the refined oil. Why is the GOI giving up this right?
But....anyway you look at it...it's good news for the Dinar and us.

[fms]

This is a small part, but at least it is a beginning. This is what they need to do, approve the things they can agree on, then continue to work on the harder stuff. jmo

Exactly, pass each part as they come to agreement. This is good.

[Terri]

I've been trying to follow the "oil and gas" law -- I truely believe that they are passing it "section" by "section" ... but this is GREAT! Makes me smile!

[Hope Full]

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Quote:
Originally Posted by oldskiier http://www.investorsiraq.com/images/buttons/viewpost.gif (http://www.investorsiraq.com/showthread.php?p=434029#post434029)
what are you talking about ???? you better have a link !!!

It is on the Aswat Aliraq site I don't no how to get the link over to tHappy he forum.
On todays news and says approved as of today.!:happy64:




This needed it own thread so we can find out if this is true !!!!
Happy 24th of July OS ;) ;)

[williambedloe]

This is NOT the entire HCL...

http://66.111.34.180/look/english/article.tpl?IdLanguage=1&IdPublication=4&NrArticle=51127&NrIssue=2&NrSection=1


PUK parliament's members leave session during oil law debate Sulaimaniya - Voices of Iraq

Tuesday , 24 /07 /2007 Time 9:22:41 </B>
Sulaimaniya, July 24, (VOI)- The Patriotic Union of Kurdistan (PUK) bloc in Kurdistan parliament walked out of the session hall in Arbil while discussing the draft oil and gas law, the matter that led to the adjournment of the session, a member of the parliament in Iraq's Kurdistan region said on Tuesday.


"The PUK demanded at the beginning of the session to postpone discussing the draft oil and gas law in Kurdistan because it is an important law and should not be approved during an extraordinary session and during the parliament's recess, but the request was rejected and the PUK members left the session," Arez Abdullah told the independent news agency Voices of Iraq (VOI).
The parliament of Kurdistan consists of two main blocs: the green bloc of the Patriotic Union of Kurdistan, headed by President Jalal Talabani and the yellow bloc of the Kurdistan Democratic Party headed by Iraq's Kurdistan President Massoud Barazani, in addition to other parties.
"The PUK members left the session because they believed that the law is very important as it tackles extracting, refining and selling oil and gas and discussing such a law needs time," the lawmaker added, noting that the bloc demanded the postponement of the discussion but the parliament chairmanship rejected the request.
"Other members of the parliament left the session also leading to the adjournment of the session," he added.
Kurdistan's parliament has 111 members.
The parliament called its members yesterday to attend the extraordinary session to discuss the draft oil and gas law in Kurdistan, despite the parliament's vacation which started on July 1 and continue till early September.
The draft oil and gas law for the management of oil resources is considered one of the most controversial issues in Iraq, and there are differences among political blocs on the law regarding the equitable distribution of revenue.
Most of Iraq's known oil reserves are located in the Shiite-dominated south and the Kurdish north.
Iraq sits on the world's third-largest oil reserves and officials have sought, since last year, to finalize the draft law..."


There are several parts to approve...still a ways to go, but this is encouraging...no stopping this train now!!!

[Shau - Kenshin]

I think I can speak for the majority of the forum members here, inclusive of the nay sayers when I say...

THIS IS THE BEST NEWS WE HAVE HAD IN THE LAST TWO WEEKS!!!!

Tury it may not be the 3.22 to the dinar with no "L" word but it makes us believe that the train is moving.....

[Okie]

Well at least they passed SOMETHING , other than the gas they have been passing for 5 years... :eek:


Zimmer

For sure, you wouldn't want to light a cigarette inside the parliament building!:lmao:

[JamesbodeanAR]

hahaha
They have got to have something hot on their tails to get this passed soon gas or no gas.

[Okie]

Refineries=construction=jobs for Iraqis=RV!!

[paganiniraq]

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Quote:
Originally Posted by oldskiier http://www.investorsiraq.com/images/buttons/viewpost.gif (http://www.investorsiraq.com/showthread.php?p=434029#post434029)
what are you talking about ???? you better have a link !!!

It is on the Aswat Aliraq site I don't no how to get the link over to the forum.
On todays news and says approved as of today.!

his needed it own thread so we can find out if this is true !!!!

Iraq parliament approves law on oil refineries

The Law on Investing and Refining Crude Oil is separate from a draft hydrocarbons law...

http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/focusoniraq/2007/July/focusoniraq_July111.xml&section=focusoniraq (http://www.khaleejtimes.com/DisplayArticleNew.asp?xfile=data/focusoniraq/2007/July/focusoniraq_July111.xml&section=focusoniraq)

[yunowu]

This is Good news !!! HOOO...WOOOO.... !!!!! :happy64: :happy64: :happy64:

[British Bulldog]

I agree, great news but I 've got a sneaky feeling this is just to keep the wolves off their backs.

[mike032588]

Here is an article I found, but is it the HCL or something else?


Parliament approves oil refineries investment law Baghdad - Voices of Iraq

Tuesday , 24 /07 /2007 Time 6:15:45 </B>
Baghdad, July 24, (VOI)- The Iraqi parliament approved on Tuesday the draft oil refineries investment law during the session chaired by the first Deputy Speaker Khaled al-Attiyah.
The law came within a string of draft laws presented to the parliament, which try to finish voting them before the summer recess.
Prime Minister Nouri al-Maliki called on the parliament last Saturday to cancel the recess or decrease it to vote the pending draft laws, including the draft oil and gas law, in addition to the possible ministerial reshuffle.
The Iraqi House of Representatives will go on a month-long-vacation as early as August.
The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital.
The companies, according to the law, have to appoint 75% of the workforce from the Iraqi people in the project.
The companies also will lay pipelines, while the Iraqi oil ministry will set up checkpoints to monitor and protect these pipelines.
According to the approved law, the companies have to make and submit reports on its work to the ministry.
They have also the right to lease lands to set up refineries.
Iraq sits on the world's third-largest oil reserves and officials have sought, since last year, to finalize the draft law.
The law is vital for attracting foreign investment to Iraq, to boost its oil output and rebuild its economy.
The oil ministry will monitor the companies' works through a committee, composed of representatives from a number of ministries, chaired by a senior official from the oil ministry.




Great find except does this have anything to do with the value of the dinar? because in the article it says

"The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital."

Is this going to effect the value of dinar?!?! if the oil isnt being traded in USD? im not that sure how the oil industry completely works..

[onenomad]

Great find except does this have anything to do with the value of the dinar? because in the article it says

"The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital."

Is this going to effect the value of dinar?!?! if the oil isnt being traded in USD? im not that sure how the oil industry completely works..



Interesting, some have speculated that the dinar will peg to a basket of currencies, now what if thats what this means they will accept various currencies from nations (using some to back exchange rate of basket) and the rest dividing among themselves. Is such a thing possible?

[onenomad]

Great find except does this have anything to do with the value of the dinar? because in the article it says

"The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital."

Is this going to effect the value of dinar?!?! if the oil isnt being traded in USD? im not that sure how the oil industry completely works..


Generally yes the dollar is the currency tied to oil however Iran trades oil with the Euro and rumor is some other mid east countries are looking at the same thing

[SunnyGift]

unanimously .. البرلمان يقر قانون الاستثمار في مصافي النفطParliament approving the investment in oil refineries


بغداد/ المدىBaghdad / long
وافق مجلس النواب بالاجماع امس الثلاثاء على قانون الاستثمار الخاص بمصافي النفط الخام.The House of Representatives approved unanimously yesterday, Tuesday, the private investment law crude oil refineries. ويهدف القانون الذي صوت عليه اعضاء المجلس، الى تشجيع القطاع الخاص للمشاركة في توسيع القاعدة الصناعية عن طريق انشاء مصافٍ للنفط من خلال منح شركات عراقية وغير عراقية منفردة او مجتمعة الحق في ذلك، شرط تعيين 70% من الايدي العاملة العراقية في المشروع.The bill voted on by members of the Council, to encourage the private sector to participate in the expansion of the industrial base through the establishment of the ranks of oil through the granting of Iraqi companies and non-Iraqi individually or collectively right to do so, the requirement to appoint 70% of the labor force in the Iraqi project.
وتتولى الشركة المستثمرة، ووفقا لمشروع القانون الذي تم التصويت عليه، انشاء انابيب النفط التي ستقوم باستعمالها، وتتولى وزارة النفط من جهتها نصب اجهزة السيطرة على أن تكون هناك جهات تراقب هذه الاجهزة.The company invested, according to the draft law which was voted upon, construction of the pipeline which will be of use, and the Ministry of Oil for its part, the installation of devices to control the points to be monitored these devices.

كما ألزم القانون الشركة المستثمرة بتقديم تقارير دورية عن عملها لوزارة النفط.The law also requires the company invested to submit periodic reports on its work for the Ministry of Oil.
ويحق للشركة المستثمرة استئجار اراض لانشاء المصافي عليها، حيث تقوم وزارة المالية بتخصيص قطع الاراضي لها من الاراضي التابعة للدولة وبسقف زمني يبلغ 40 سنة قابلة للتجديد، مستثنى من قانون استئجار الاراضي، ويحق لوزارة المالية سحب قطع الاراضي من الشركة في حال مخالفتها القوانين المتفق عليها مع الوزارة، حيث لا يحق للشركة ان تستغل الاراضي المستأجرة لغير انشاء المصافي، بحسب القانون.The right of the investing company leasing land for the construction of refineries, since the Ministry of Finance to allocate plots of land belonging to the state and the line time is 40 years, renewable for, the law exempted from the rental of land, the Ministry of Finance withdrawing plots of land from the company in the event it violates the laws agreed upon with the ministry, where the company is not entitled to use leased land to non-establishment of the refineries, according to the law.
وتقوم وزارة النفط، وفقا للقانون، بمتابعة اعمال الشركات عن طريق لجنة مؤلفة من عدة وزارا ت برئاسة مدير عام من وزارة النفط.The Ministry of oil, according to the law, to follow the work of companies through a committee composed of several visited T. chaired by the director general of the Ministry of Oil.
كما وتمت في جلسة مجلس النواب امس القراءة الاولى لتعديل النظام الداخلي للبرلمان.Also at the meeting were the House yesterday, the first reading of the amendment of the rules of procedure of Parliament.
ونص مشروع النظام الداخلي على خصم نصف مليون دينار من مخصصات عضو مجلس النواب عن كل يوم غياب للنائب.The text of the draft rules of procedure of deducting half a million dinars member of the House allocations for each day of the absence of Vice.
وتضمن القانون تنبيه العضو في حالة تغيبة لخمس جلسات متتالية او عشر جلسات متفرقة خلال الفصل التشريعي الواحد تنبيها خطيا يصار بعده الى اتخاذ الرئاسة اجراءات قانونية بحقه.The law alert member in the event of his absence for five consecutive meetings or ten separate meetings during legislative one trap after a warning in writing to take legal action against him the presidency. واشار النظام الى ان من حق العضو الحصول على اجازة ستة اشهر كحد اعلى بدون راتب لاي عذر، يصار بعدها الى احالته على التقاعد واستبداله بعضو آخر من قائمته، كما نص على منح العضوة المتوفي زوجها اجازة شهر واجازة الحج شهراً بدون راتب، واعتبر الايفادات الخاصة بالمجلس ليست اجازات.He pointed out that the right of a member to leave a maximum of six months without pay for any excuse, then they can to retirement and replaced with another member of the roster, as provided for the granting member of the deceased husband month leave and leave without pay pilgrimage months, and it Deputations special council not leave. واعطى القانون الجديد لعضو المجلس المتغيب لاي سبب شرعي صلاحية تخويل احد زملائه لممارسة مهامه وفق تخويل خطي على ان لايحصل العضو الواحد على اكثر من تخويل، وان لاتزيد عدد الجلسات المخول بها العضو اكثر من 15جلسة.The law also gives the new council member is absent for any reason legitimate authority empowered one of his colleagues to exercise its functions in accordance with written authorization that perhaps one member of more than one authorization, and less number of meetings authorized by the member more than 15 meetings.

ttp://64.233.179.104/translate_c?hl=en&ie=UTF-8&oe=UTF-8&langpair=ar%7Cen&u=http://www.almadapaper.com/paper.php%3Fsource%3Dakbar%26mlf%3Dinterpage%26sid %3D25848&prev=/language_tools

[vipor]

Great find except does this have anything to do with the value of the dinar? because in the article it says

"The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital."

Is this going to effect the value of dinar?!?! if the oil isnt being traded in USD? im not that sure how the oil industry completely works..


Sounds like PSA's to me.

[MI$TER DINAR]

This is good news. News of the Iraqis passing any law is great. At least they are doing something.

[starman]

"The PUK demanded at the beginning of the session to postpone discussing the draft oil and gas law in Kurdistan because it is an important law and should not be approved during an extraordinary session and during the parliament's recess, but the request was rejected and the PUK members left the session," Arez Abdullah told the independent news agency Voices of Iraq (VOI).
The parliament of Kurdistan consists of two main blocs: the green bloc of the Patriotic Union of Kurdistan, headed by President Jalal Talabani and the yellow bloc of the Kurdistan Democratic Party headed by Iraq's Kurdistan President Massoud Barazani, in addition to other parties.
"The PUK members left the session because they believed that the law is very important as it tackles extracting, refining and selling oil and gas and discussing such a law needs time," the lawmaker added, noting that the bloc demanded the postponement of the discussion but the parliament chairmanship rejected the request.
"Other members of the parliament left the session also leading to the adjournment of the session," he added.
Kurdistan's parliament has 111 members.
The parliament called its members yesterday to attend the extraordinary session to discuss the draft oil and gas law in Kurdistan, despite the parliament's vacation which started on July 1 and continue till early September.
The draft oil and gas law for the management of oil resources is considered one of the most controversial issues in Iraq, and there are differences among political blocs on the law regarding the equitable distribution of revenue.
Most of Iraq's known oil reserves are located in the Shiite-dominated south and the Kurdish north.
Iraq sits on the world's third-largest oil reserves and officials have sought, since last year, to finalize the draft law.
Recent disputes have arisen after Iraq’s oil ministry warned regions in late April against signing contracts until the law was passed.
The Kurdistan regional government has signed several agreements with foreign companies.

Hmm...1.11 is a very special number to me...Check this out...This is from the website of a very famous Paranormalist I really like a lot...Uri Geller...
http://www.uri-geller.com/articles/11.htm
Make your own judgements...I certainly make mine ...All good :lmao:

[Okie]

Great find except does this have anything to do with the value of the dinar? because in the article it says

"The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital."

Is this going to effect the value of dinar?!?! if the oil isnt being traded in USD? im not that sure how the oil industry completely works..


The "capital" is for construction, operation and maintenance of the refineries and pipelines. Also, 75% of their workforce will be Iraqi.

IMO,the feedstock (crude oil) for the refinery will be sold to the refinery by the GOI or their contractor in Dinars and the output will be sold to the world in dollars.

[redvette]

So what do we asume.
Reval first or
ISX opening first.
Or both happen at the same time?;)

[MEALTICKET]

hopefully someone can land a article from a US cite.

[REITman]

Finally!!! A law has been passed :happy64: . I hope they liked the way it felt to accomplish something and they pass more important laws.

[lance]

Iraq parl't approves law on oil refineries

Iraq's parliament on Tuesday approved a draft law that opens the way for foreign companies to build and operate oil refineries in the country.

WWW.NOOZZ.COM

[Kurt]

They better take a few days off!!!! So much work done NOT

[fms]

Iraq parl't approves law on oil refineries

Iraq's parliament on Tuesday approved a draft law that opens the way for foreign companies to build and operate oil refineries in the country.

WWW.NOOZZ.COM

Refineries need to be built first, but they really should have started this when we first took over the country. Then by now they would be more than ready to start pumping that black gold out of the ground and sending it to those refineries. I guess security has been an issue though.

[NewTexasgold]

Parliament approves oil refineries investment law Baghdad - Voices of Iraq

Tuesday , 24 /07 /2007 Time 11:12:25 </B>
Baghdad, July 24, (VOI)- The Iraqi parliament approved on Tuesday the draft oil refineries investment law during the session chaired by the first Deputy Speaker Khaled al-Attiyah.
The law came within a string of draft laws presented to the parliament, which try to finish voting them before the summer recess.
Prime Minister Nouri al-Maliki called on the parliament last Saturday to cancel the recess or decrease it to vote the pending draft laws, including the draft oil and gas law, in addition to the possible ministerial reshuffle.
The Iraqi House of Representatives will go on a month-long-vacation as early as August.
The law, voted by the House of Representatives on Tuesday, aims at encouraging the private sector to take part in the industrial sector through granting Iraqi and foreign companies the right to establish oil refineries in Iraq with its own capital.
The companies, according to the law, have to appoint 75% of the workforce from the Iraqi people in the project.
The companies also will lay pipelines, while the Iraqi oil ministry will set up checkpoints to monitor and protect these pipelines.
According to the approved law, the companies have to make and submit reports on its work to the ministry.
They have also the right to lease lands to set up refineries.
Iraq sits on the world's third-largest oil reserves and officials have sought, since last year, to finalize the draft law.
The law is vital for attracting foreign investment to Iraq, to boost its oil output and rebuild its economy.
The oil ministry will monitor the companies' works through a committee, composed of representatives from a number of ministries, chaired by a senior official from the oil ministry

http://www.aswataliraq.info/look/english/article.tpl?IdLanguage=1&IdPublication=4&NrArticle=51122&NrIssue=2&NrSection=2

It looks like the GoI is finally laying the foundation for a great future, we need refineries to make the petrol, for comsumption in the US and other countries. :happy64:

[crabman]

MIke ues this will lead to more Iraqis getting jobs. I just wonder if they will be paid in accordance to the other oil workers in neighboring countries. Either way with the refineries etc,, it will put a significant boost into the country. I would imagine they will be paid in dinars, the same as the US Military is doing in torts. One thing we have not explored is the cost of materials, are they going to be bought in dollars or dinars what do you think.

[Okie]

MIke ues this will lead to more Iraqis getting jobs. I just wonder if they will be paid in accordance to the other oil workers in neighboring countries. Either way with the refineries etc,, it will put a significant boost into the country. I would imagine they will be paid in dinars, the same as the US Military is doing in torts. One thing we have not explored is the cost of materials, are they going to be bought in dollars or dinars what do you think.

The contracts I worked on in The Middle East required the companies to purchase 25% of their materials in the host country, with local currency.
The rest could be purchased anywhere and the currency was determined by the seller.

[Howler]

MIke ues this will lead to more Iraqis getting jobs. I just wonder if they will be paid in accordance to the other oil workers in neighboring countries. Either way with the refineries etc,, it will put a significant boost into the country. I would imagine they will be paid in dinars, the same as the US Military is doing in torts. One thing we have not explored is the cost of materials, are they going to be bought in dollars or dinars what do you think.

Per the article just the other day. The Iraqi oil workers just got a raise. Up to a whopping 10 US dollars a day! LOL Not to worry though, after the oil revenue sharing kicks in, the Iraqis wont be doing any work anyway, they will import cheap labor. Just as thier oil rich neighbors do.

[patrick39]

Looks like they must have made a deal with the workers unions to pass this by adding the 70% Iraqi worker clause. This is good.

[traveler]

I wouldn't be surprised if we don't have another big development tonight. What do you guys and gals think?:D

[EPIC Dinar]

Do you realy need the mods, or are you talking in innuendos?
Calling Doctor 90210. The money is coming, the money is coming. Call the Calvary
OIL INVESTMENT LAW IS APPROVED,SWeeeeeEEEEEEEEEEETTTTTTTTTT!
Now RV soon? Is that correct?
I need a new borla muffler and headlights for myself.

[reader]

Since they have passed the part of the law that allows foriegn companies to lay pipe and build refineries using Iraqi work force and currency. What other parts of the oil law would need to be passed before it would help the rv or could this be it. :huge: Does anyone know what parts they are hung up on? I would think once the contracts are set and refineries up and running, oil comming out of the ground, they would need to have the revenue sharing issues squared away.

Here's another questions for some of you with experience in the oil business. Once big oil companies go into contracts. How long will it take to get a refinery up and running and producing oil?

[skimin79]

Old but still answers the question..

http://www.gasandoil.com/goc/news/ntm51670.htm


Iraq wants to build new refineries to step up oil production
28-03-05 The Iraqi government wants to build two new refineries to better handle oil revenues, Oil Ministry officials say.
The new refineries would practically double Iraq's production capacity for gasoline and other oil products to about 1 mm bpd from approximately 500,000 bpd from three aging refineries.

A UN-imposed embargo on Iraq following its 1990 invasion of neighbouring Kuwait prevented Saddam Hussein from modernizing his facilities. Iraq, which sits on the world's second-largest oil reserves after Saudi Arabia, imports $ 200 mm in gasoline per month to meet stepped-up consumer demand from an estimated 1 mm new cars that flooded Iraq after US troops came two years ago. Oil officials say privately that corruption also causes gasoline shortages in Iraq.
"The sooner we do this, the better for us," an oil official told. "We want to stop importation of the gas, oil and oil products. The demand for products is enormous."

Oil refinery and finance officials are meeting with 17 technical construction companies and international oil majors in the Jordanian capital, Amman, to discuss building a 300,000 bpd refinery to meet consumer needs and give the country some gasoline left over for export.
"We are on a purely technical mission, and we are still at it," said Ahmed al-Shamma, deputy oil minister. "We are not finished yet."

Such a refinery is expected to cost at least $ 2 bn and take up to six years to build. Work could start in early 2006, al-Shamma said. Companies such as Chevron Texaco and Shell are competing for the right to build such a refinery in return for production-sharing arrangements once it's finished.
But even the smaller refinery of 140,000 bpd planned for Musayyib, about 40 miles south of Baghdad, could take more than two years to build, said the official. "Fast-track" building of al-Nahrain refinery, on the site of an existing failed refinery project from the late 1980s, could take 28 months or more, he said.

A crude oil pipeline and distribution infrastructure and storage tanks already exist at the site. The ministry expects to pay cash for the refinery and run it with Iraq workers. The official said that 140,000 bpd "is considered a reasonable size, and we voted a long time ago to build this."
Oil workers have to get moving on the refinery projects, since they take so long to build, the official said. The Oil Ministry cannot wait for government haggling to end, he said.

Much of the government's work in Iraq is on hold as political leaders negotiate over who will control the country's lucrative oil revenues, who will be oil minister, and if the Peshmerga, a Kurdish paramilitary force, will remain separate or be integrated into the new Iraq army. Almost two months after Iraqis went to the polls to elect a new assembly, leaders still have not been chosen.
"Work goes on. If we can get things going now, why not do it?" the official asked.

A contract is expected to be signed in the next few weeks, he said. In Amman, Jordan, officials are meeting with ChevronTexaco, Shell, a Chinese company thought to be Sinopec, Parsons, Germany's Uhde, a unit of ThyssenKrupp and Foster Wheeler, among others.
Foster Wheeler now serves as a project manager on oil-related work in Iraq, Parsons has an extensive oil infrastructure refurbishment contract in northern Iraq, and ChevronTexaco has signed a "technical agreement" with the Iraq Oil Ministry to send workers outside of the country for training.
Iraq's Oil Ministry also has installed several smaller refineries in the last two years to keep up with regional demand.

[reader]

"Such a refinery is expected to cost at least $ 2 bn and take up to six years to build" SIX YEARS :eek: . So what is everyone's take on how passing this portion of the law could effect an rv. Will they rv up front to have more purchasing power? Will they leave it low so that purchases take up more money supply? (if it works that way) Or will we have to wait six years to have the refineries built, oil to be flowing, and then rv?