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Thread: HCL approval next week?

  1. #1
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    Thumbs up HCL approval next week?

    Kurds agree --- Erbil, Baghdad, 19 April (AKI) - The regional government of Iraqi Kurdistan has reached a definitive accord with the central government in Baghdad on the law on oil according to the Kurdish regional prime minister Neghervan Barzani, quoted by Kurdish language newspaper Aso. Barzani said that the bill "was about to be handed over to parliament" for approval. "

    Finance Minister urged his Egyptian debt write-off for Iraq by 100% ?? ???From just the latest )Baghdad - (Voices of Iraq) .He urged Mr. Zubaidi Baqir Jabr, the Iraqi Minister of Finance today, Thursday, Mr. Boutros-Ghali and Minister of Finance to write off the debts of Egypt on Iraq by 100% as the host of the meeting of the International Covenant. ???? ."According to a statement by the Ministry of Finance received the Iraqi News Agency (Voices of Iraq) Independent today that Mr. Ghali between that previously submitted to Egyptian President Hosni Mubarak promised that the debt would be written off by 100%, affirming support for the Arab Republic of Egypt to the government of Iraq. " .Hosts Egyptian city of Sharm El-Sheikh early next month, both the International Covenant and the neighboring ...

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    Iraq also wants a relationship between the foreign exchange market and the Iraqi dinar.

  2. #2
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    great post. bloody hope so!

  3. #3
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    Kurds agreed in December.
    Kurds agreed in February.
    Kurds agree in April?

    I don't see the significance here. The HCL went to Parliament in February for "rubber stamp" approval. This is truly Ground Hog Day!

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    I'll believe it when I'm rich, he he...

    In a senate hearing, Nelson Rockefeller was questioned. "Mr. Rockefeller, how much money did you make last year? Oh, 650 million or thereabouts. How much tax did you pay on that? Oh, I don't pay any taxes. How is that possible Mr. Rockefeller? His answer? I don't own any of it." Access without Ownership & Equity without Liability, legally.

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    Quote Originally Posted by REITman View Post
    Kurds agreed in December.
    Kurds agreed in February.
    Kurds agree in April?

    I don't see the significance here. The HCL went to Parliament in February for "rubber stamp" approval. This is truly Ground Hog Day!
    The Kurds are a most agreeable people :) There are 4 parts to the HCL, and I think GoI will be sweating on them being passed before the ICI meeting on 3 May.

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    rubber stamp that bill and lets light this candle!!!!

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    Full article.

    http://www.adnki.com/index_2Level_En...06682230&par=0


    IRAQ: KURDISH MINISTERS SPLIT OVER OIL LAW


    Erbil, Baghdad, 19 April (AKI) - The regional government of Iraqi Kurdistan has reached a definitive accord with the central government in Baghdad on the law on oil according to the Kurdish regional prime minister Neghervan Barzani, quoted by Kurdish language newspaper Aso. Barzani said that the bill "was about to be handed over to parliament" for approval. However the same newspaper also carried comments by the regional minister for natural resources Ashti Horami, that "the law on oil is Baathist and chauvinist and reiterates the centrality of power through the creation of a state oil company."

    Horami said this law should be thrown in the rubbish as it was in contrast with the constitution. The government of Iraq's autonomous Kurdish region continues to work according to the contracts signed with the foreign investment companies in the oil sector.

    The minister explained that "the differences are mainly over the volume of foreign investment in the oil sector."

    "The new project concentrates 82 percent of the extraction of crude oil in the hands of the State Oil Company, leaving only 18 percent for foreign firms," he said.

    The current Iraqi constitution is vague on control over oil, stating only existing oil is within the central government's purview and leaving all new or future oil in limbo.

    The Kurdistan Regional Government (KRG), interprets this to mean everything not explicitly detailed for the federal government implicitly falls under regional control.

    For his part the deputy of the Sunni Iraqi Concord Front, Husayn al-Falluji refused to comment on the description of the law as "baathist" but told Adnkronos International (AKI) that the time was not right for proposing such a law in that it was the subject of wide debate and said "the government should delay approving it".

    At a moment of such gravity for Iraq, Falluki said, there was no need to "add another motive for divergences increasing the current abyss between the people and the government."

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    Iraq also wants a relationship between the foreign exchange market and the Iraqi dinar.

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    Maybe they got an argreement for Parliament to pass 140 in exchange for their support of the HCL? I had read that this was in play...

    Sara

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    Possibly Sara. Good news. Am sure the heat is on in the words of Glen Fry to have it passed before the IC. Gives them a week to do it..... :rolleye03

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    Iraq also wants a relationship between the foreign exchange market and the Iraqi dinar.

  10. #10
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    Wink Stronger language used this time.

    Quote Originally Posted by Adster View Post

    Kurds agree --- Erbil, Baghdad, 19 April (AKI) - The regional government of Iraqi Kurdistan has reached a DEFINITIVE accord with the central government in Baghdad on the law on oil according to the Kurdish regional prime minister Neghervan Barzani, quoted by Kurdish language newspaper Aso. Barzani said that the bill "was about to be handed over to parliament" for approval. "

    Maybe this is the FINAL approval needed for passing the HCL!?

    To bad we didn't know about it being "approved" one section at a time!
    The Government has the final say concerning the dinar

    http://www.investorsiraq.com/showthr...ies.&highlight=

  11. #11
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    The Kurds were the last ones to agree on it and it looks like they have. The fact they have approved it would hopefully mean a rubber stamp jobby next week before the IC.

    Next stop parliament, next stop after that being passed, the nearest pub to get legless.
    :D

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    Iraq also wants a relationship between the foreign exchange market and the Iraqi dinar.

  12. #12
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    From what I am reading is that this version worked out over the past couple of days, went to the center point of the Iraqi Oil Lobby (yes they do have), the Oil Workers Union and the Nationalists who were very concerned with the rates of profit that the foreign oil companies were to get (70% was a number given) and the length of contracts (up to 30-40 years) the new law seems to have been rewritten to make it more acceptable with profits in the 20-30% range and only 4 year contracts or a four year review on contracts - depending upon how you read the reports.
    The Kurds main problem was/is with the section of the law the spells out (or doesn't) the contract process and more importantly, local control over the contract process to include regional oversight to approve or reject oil deal(s) within their region.

    The Central Government gave the Kurds a verbal agreement on the last draft to get their approval...Maybe, this time they got more...more importantly, as they are near a shoot war with Turkey and Turkey Generals announcing timetables for military strikes within Iraqi Kurdastan...it may be that they now feel a need for a strong central government to ride to their aid if Turkey does attack...

    In my opinion the Iraqi Government has been told the realitiy that unless they are going into the 1-4 May Meetings with all their ducks in a row...they are out! We will have to explore other political options to include disolving the current government or turn a blind eye to a coupe...

    Look and see at the media attention and spin this event is generating...even the US Treasury issued a press release on the event...this is being spinned as the Mother of all political/economic meetings of our generation...Do you think we will have or would take the political chance of having Dear Connie left standing at the alter by the Iraqis...This thing is being spun too greatly that we have not already made sure that all the deals are signed, seal and only need to be signed in front of the World's Media...If so, Connie's President will win the victory he proclaimed years ago and his real victory will be the political destruction of the Democratic Party...and may well insure him a place in the history books as having been right....

    So in crunch time...painting into a hopeless corner...the Iraqis usually do come through...or go on vacation...but, this time I think that they will...because if they don't, the current leadership has no tomorrow...and, thus, saddly no more paid vacations...only a quick retirement...Thank God they did get the Pention Law passed...

    Sara
    Last edited by saramiller; 04-21-2007 at 11:29 AM.

  13. #13
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    If they
    Really get off there @$$3$ and
    Act. That's the million dinar
    Question

    :rolleye03
    Zimmer

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