The Dismantling Of The OIL AND GAS LAW on 3 projects to facilitate its adoption in Parliament !

[DinarThug]

2018-03-05 

Al-Mahmoudawi calls for voting on the law of the National Oil Company and determining the rate of 5% of its profits to citizens

 

"The importance of this law is because it represents the best investment of the national wealth of oil and gas, rehabilitation of production sectors, development of fields and marketing and all related activities to ensure higher financial returns and achieve economic benefit for the people," Jamal al-Muhammadawi, a member of the Iraqi parliament, said. Iraqi. "

Al-Mahmoudawi said in a press statement that "we will record a set of observations on the draft law on the agenda of the House of Representatives today that Article (4) stipulates that the National Company shall be headed by a minister. Special grades ".

He added that "the bill distributed the financial imports of the national company on the sections of which 90% share of the treasury of the federal state and distributed the rest to parts of them (Citizen Fund) has determined the proportion distributed to all citizens living in Iraq did not specify a certain percentage of imports, we propose to be 5% Of the profits distributed to citizens in the form of shares of equal value. "

Al-Mahmoudawi pointed out that "we propose to amend Article (1) paragraph first to be as follows: The center of the main company in Basra and to open an administrative center in Baghdad."

He pointed out that Article (5) of the law requires the approval of the Council of Ministers with regard to the investment of national energy in Iraq, while stressing the need to require the law approval of the House of Representatives, especially as Iraq has a bad experience with the rounds of oil licenses that were approved by the Council of Ministers at that time without taking Representatives of the people so we propose to change the article or cancel it. "

"We reject the reference of the draft law to authorize the chairman of the board of directors of the company some of its functions to the president, which allows and opens room for the dominance of the Chairman of the Board of Directors as well as it will open the door for manipulation of public money away from censorship."

link

[tigergorzow]

DT Thanks,  Come home to Papi RV / RI.  We are waiting to share some peace, love & happiness RV Style...-@).  We are ready for the DV POST-RV Party.

[1lucdog]

I second that emotion!

 

[ChuckFinley]

2 hours ago, tigergorzow said:

DT Thanks,  Come home to Papi RV / RI.  We are waiting to share some peace, love & happiness RV Style...-@).  We are ready for the DV POST-RV Party.

Now that is what I am talking about. 

[DinarThug]

LINK

The Iraqi parliament votes in favor of establishing a national oil company

 

6th March, 2018

Iraq's parliament voted on Monday to set up a new national oil company to manage the country's energy sector, lawmakers said. 

"This is a very important law to push forward the development of the energy sector in Iraq," said Hisham al-Suhail, a member of the Iraqi parliament. "It is the duty of this new company to manage extractive industry operations," said Hamza al-Jawahiri, an oil analyst who helped the oil ministry draft the company's founding law. This will allow the Ministry of Oil to devote itself to the task of drawing strategies and plans for the development of the energy sector in Iraq ». 

The move, which has been under way for years, revives a company originally established in the 1960s and then merged with the Oil Ministry in 1987. Kurdish lawmakers voted with the majority in favor of the new company, despite the dispute between Baghdad and the Kurdistan Regional Government September / September on the territorial independence.

The central government took over half of the oil fields under the control of Iraq's Kurdistan region in 2014, including the oil city of Kirkuk, after the region voted for independence in a referendum opposed by Baghdad. 

Kirkuk's crude sales have stalled since Iraqi forces regained control of Kurdish oil fields in October. 

At present, Iraq's average oil production exceeds 4.5 million bpd.

 

[DinarThug]

LINK

Parliamentary Energy: The law of the National Oil Company will give a share to every Iraqi citizen
 

6th March, 2018

The Iraqi oil and energy committee revealed on Tuesday that the Iraqi National Oil Company (INCOC) will include at least 10 percent of the funds in the first experiment in the country, while one of the funds will give each Iraqi citizen residing within the country a share of that percentage. 

"The legislation of the law of the Iraqi National Oil Company represents a great achievement for the House of Representatives, which re-established the law of forming the company, which was canceled by personal decisions of the former regime in 1987 after there was a law," Ali al-Bahadli, chairman of the committee, told a news conference with members of the committee. No. 123 of 1967, where it was merged and subordinated to the Ministry of Oil, "noting that" after 2004 tried to the Ministry of Oil and former Minister Ibrahim Bahr al-Ulum to reactivate the law of the National Oil Company, but those efforts collided with objections from some. "

Al-Bahadli added that "the law and after the efforts and discussions and workshops lasted for several months has seen the light, where will work to activate investment in refineries and the gas industry and all the goals set for the success of the work of the company can be achieved through several objectives and means in investment and exploration of new structures and activate investment under the mechanisms and scientific foundations And technical, "pointing out that" some understand that the company has powers higher than what some expect, but really draws its work and powers of the Constitution, the arm of the Ministry of Oil, which draws oil policies of the country and the company is working to implement those policies. "

Al-Bahadli stressed that "the company for the first time has achieved a great achievement for the Iraqi people through the formation of four funds, which will be deducted at least 10% of revenue to be distributed to those funds," explaining that "the first fund will be to support the capital of the company and the second is the citizen fund, The country to the Iraqi people, where allocated shares for every Iraqi citizen resident inside Iraq and put a mechanism to hand over those amounts in addition to mechanisms to prevent the provinces that do not deliver oil quotas to the federal government. 

Al-Bahadli added that "the third fund is a generation fund, which will work the government to develop mechanisms to develop allocations for those generations, while the fourth fund is to support the oil-producing provinces," stressing that "these percentages will be distributed in accordance with instructions to be placed within the rules of procedure of the company." 

And voted the House of Representatives during the meeting held on Monday, the proposal of the law of the National Oil Company.

#####################

 

 

LINK

Deputy clarifies the most prominent advantages of the law of the National Oil Company

6th March, 2018

 

A member of the oil and energy committee of parliament, Zaher al-Abadi, said Tuesday that the law of the National Oil Company would bring economic benefit to the Iraqi people.

The MP said in a press statement that the law provides in one of its articles to ensure the benefits of the people of oil, where the distribution of the revenues of the remaining company after the expense of the expense of all citizens living in Iraq in the form of shares of equal annual value fall in the event of the death of the citizen, Shares are not subject to supply or purchase. 

He added that the draft law distributed the financial imports of the national company by 90% of those imports to the treasury of the federal state and the remaining 10% distributed to citizens.

He also noted that the law required the Kurdistan region to hand over the quantities of oil produced in its fields to the National Oil Marketing Company (SOMO) and otherwise will not give those shares to the Kurdish people. 

On the mechanism of the receipt of citizens of the money of the shares, MP Abadi pointed out that the company will open a bank account in Iraqi banks for each citizen to put the money, pointing out that the House of Representatives put an article obligates the company to start implementation after the legislation of 6 months.

The House of Representatives voted in its regular session held yesterday on the law of the National Oil Company and published the obelisk, the text of the law that voted on it.

[Theseus]

2 hours ago, DinarThug said:

LINK

Parliamentary Energy: The law of the National Oil Company will give a share to every Iraqi citizen
 

6th March, 2018

The Iraqi oil and energy committee revealed on Tuesday that the Iraqi National Oil Company (INCOC) will include at least 10 percent of the funds in the first experiment in the country, while one of the funds will give each Iraqi citizen residing within the country a share of that percentage. 

"The legislation of the law of the Iraqi National Oil Company represents a great achievement for the House of Representatives, which re-established the law of forming the company, which was canceled by personal decisions of the former regime in 1987 after there was a law," Ali al-Bahadli, chairman of the committee, told a news conference with members of the committee. No. 123 of 1967, where it was merged and subordinated to the Ministry of Oil, "noting that" after 2004 tried to the Ministry of Oil and former Minister Ibrahim Bahr al-Ulum to reactivate the law of the National Oil Company, but those efforts collided with objections from some. "

Al-Bahadli added that "the law and after the efforts and discussions and workshops lasted for several months has seen the light, where will work to activate investment in refineries and the gas industry and all the goals set for the success of the work of the company can be achieved through several objectives and means in investment and exploration of new structures and activate investment under the mechanisms and scientific foundations And technical, "pointing out that" some understand that the company has powers higher than what some expect, but really draws its work and powers of the Constitution, the arm of the Ministry of Oil, which draws oil policies of the country and the company is working to implement those policies. "

Al-Bahadli stressed that "the company for the first time has achieved a great achievement for the Iraqi people through the formation of four funds, which will be deducted at least 10% of revenue to be distributed to those funds," explaining that "the first fund will be to support system">support the capital of the company and the second is the citizen fund, The country to the Iraqi people, where allocated shares for every Iraqi citizen resident inside Iraq and put a mechanism to hand over those amounts in addition to mechanisms to prevent the provinces that do not deliver oil quotas to the federal government. 

Al-Bahadli added that "the third fund is a generation fund, which will work the government to develop mechanisms to develop allocations for those generations, while the fourth fund is to support system">support the oil-producing provinces," stressing that "these percentages will be distributed in accordance with instructions to be placed within the rules of procedure of the company." 

And voted the House of Representatives during the meeting held on Monday, the proposal of the law of the National Oil Company.

#####################

 

 

LINK

Deputy clarifies the most prominent advantages of the law of the National Oil Company

6th March, 2018

 

A member of the oil and energy committee of parliament, Zaher al-Abadi, said Tuesday that the law of the National Oil Company would bring economic benefit to the Iraqi people.

The MP said in a press statement that the law provides in one of its articles to ensure the benefits of the people of oil, where the distribution of the revenues of the remaining company after the expense of the expense of all citizens living in Iraq in the form of shares of equal annual value fall in the event of the death of the citizen, Shares are not subject to supply or purchase. 

He added that the draft law distributed the financial imports of the national company by 90% of those imports to the treasury of the federal state and the remaining 10% distributed to citizens.

He also noted that the law required the Kurdistan region to hand over the quantities of oil produced in its fields to the National Oil Marketing Company (SOMO) and otherwise will not give those shares to the Kurdish people. 

On the mechanism of the receipt of citizens of the money of the shares, MP Abadi pointed out that the company will open a bank account in Iraqi banks for each citizen to put the money, pointing out that the House of Representatives put an article obligates the company to start implementation after the legislation of 6 months.

The House of Representatives voted in its regular session held yesterday on the law of the National Oil Company and published the obelisk, the text of the law that voted on it.

And there is the caveat. I have contended that just because the HCL is passed does not mean immediate RV because they need to implement the HCL. The article states this very fact.

 

"...pointing out that the House of Representatives put an article obligates the company to start implementation after the legislation of 6 months."

 

The great news is the INCOC has seen a vote in the House. However, this still puts the RV off until potentially 2019 because the implementation does not start for another 6 months once in the Gazette. This year Ramadan is earlier starting May 14/15 through Jun 17. Then elections in August/September leading into 2019 Budget talks and passage through the end of the year. IMF reviews SBA in August 2018 and reports by December. Putting us into 2019 looking at how well Iraq did in 2018 and awaiting the RV to happen. I am hoping it will be announced during the 2019 Ramadan or  Eid al Fitr as a gift for the Iraqi people. Which makes sense given the culture and how they like to mark it . 2019 Ramadan starts May 4/5 ends June 8 (unofficial dates) as they will have completed the SBA agreement by then and 30 days will start of the third quarter. This is my hope, could be wrong.

Edited March 6, 2018 by Theseus

[Floridian]

Makes more sense to me to raise the dinar first, re-elect Abadi as Prime Minister, AND THEN give them HCL money.

[pokerplayer]

On ‎3‎/‎4‎/‎2018 at 6:05 PM, Half Crazy Runner said:

 

Sounds like it is to me, but I’m no expert ..  

Here’s hoping!!  

 

What ?? You meen your not ?? Well I guess you know what that meens now don't you ??

 

Exactly !! Your off my Christmas card list !!  LOL

 

It's all good just could not resist.

 

  pp

[3n1]

37 minutes ago, Floridian said:

Makes more sense to me to raise the dinar first, re-elect Abadi as Prime Minister, AND THEN give them HCL money.

 

I vote for : 

1) international iqd 

2) oil / hcl for citizens

3) re-elect abadi 

4) free toaster or tea pot w/ new bank account

[nannab]

Love it!!!

[Joe Sutherland]

Google the exchange rate!

It's changed!

0.0017…!

[nannab]

I just checked xe.com and it is showing 0.00084. 

[Joe Sutherland]

1 minute ago, nannab said:

I just checked xe.com and it is showing 0.00084. 

I thinking something is going on because I've never seen this kind of change on Google.

May or may not be the start of what we've been waiting for be exciting none the less!

[6ly410]

Something is cooking with all those hcl news...... 

[DinarThug]

6 hours ago, DinarThug said:

Parliamentary Energy: The law of the National Oil Company will give a share to every Iraqi citizen
 

6th March, 2018

The Iraqi oil and energy committee revealed on Tuesday that the Iraqi National Oil Company (INCOC) will include at least 10 percent of the funds in the first experiment in the country, while one of the funds will give each Iraqi citizen residing within the country a share of that percentage. 

"The legislation of the law of the Iraqi National Oil Company represents a great achievement for the House of Representatives, which re-established the law of forming the company, which was canceled by personal decisions of the former regime in 1987 after there was a law," Ali al-Bahadli, chairman of the committee, told a news conference with members of the committee. No. 123 of 1967, where it was merged and subordinated to the Ministry of Oil, "noting that" after 2004 tried to the Ministry of Oil and former Minister Ibrahim Bahr al-Ulum to reactivate the law of the National Oil Company, but those efforts collided with objections from some. "

Al-Bahadli added that "the law and after the efforts and discussions and workshops lasted for several months has seen the light, where will work to activate investment in refineries and the gas industry and all the goals set for the success of the work of the company can be achieved through several objectives and means in investment and exploration of new structures and activate investment under the mechanisms and scientific foundations And technical, "pointing out that" some understand that the company has powers higher than what some expect, but really draws its work and powers of the Constitution, the arm of the Ministry of Oil, which draws oil policies of the country and the company is working to implement those policies. "

Al-Bahadli stressed that "the company for the first time has achieved a great achievement for the Iraqi people through the formation of four funds, which will be deducted at least 10% of revenue to be distributed to those funds," explaining that "the first fund will be to support system">support the capital of the company and the second is the citizen fund, The country to the Iraqi people, where allocated shares for every Iraqi citizen resident inside Iraq and put a mechanism to hand over those amounts in addition to mechanisms to prevent the provinces that do not deliver oil quotas to the federal government. 

Al-Bahadli added that "the third fund is a generation fund, which will work the government to develop mechanisms to develop allocations for those generations, while the fourth fund is to support system">support the oil-producing provinces," stressing that "these percentages will be distributed in accordance with instructions to be placed within the rules of procedure of the company." 

And voted the House of Representatives during the meeting held on Monday, the proposal of the law of the National Oil Company.

#####################

 

 

LINK

Deputy clarifies the most prominent advantages of the law of the National Oil Company

6th March, 2018

 

A member of the oil and energy committee of parliament, Zaher al-Abadi, said Tuesday that the law of the National Oil Company would bring economic benefit to the Iraqi people.

The MP said in a press statement that the law provides in one of its articles to ensure the benefits of the people of oil, where the distribution of the revenues of the remaining company after the expense of the expense of all citizens living in Iraq in the form of shares of equal annual value fall in the event of the death of the citizen, Shares are not subject to supply or purchase. 

He added that the draft law distributed the financial imports of the national company by 90% of those imports to the treasury of the federal state and the remaining 10% distributed to citizens.

He also noted that the law required the Kurdistan region to hand over the quantities of oil produced in its fields to the National Oil Marketing Company (SOMO) and otherwise will not give those shares to the Kurdish people. 

On the mechanism of the receipt of citizens of the money of the shares, MP Abadi pointed out that the company will open a bank account in Iraqi banks for each citizen to put the money, pointing out that the House of Representatives put an article obligates the company to start implementation after the legislation of 6 months.

The House of Representatives voted in its regular session held yesterday on the law of the National Oil Company and published the obelisk, the text of the law that voted on it.

 

This Just In - The Clown Somehow Managed To Nab This ...

 

     

 

 

 

Nab: For this period, the parliament will remain in session

BAGHDAD - A member of the House of Representatives Jassim Mohammed Jaafar, on Tuesday, the continuation of the Council to hold its meetings to the end of this month in the event of continuing to achieve a quorum similar to today's meeting, between the sessions will be a weekly session if the quorum can not be achieved.

Jafar said in a press statement that "the quorum achieved in the meeting on Monday has not been received by the Council for more than four months and the number of attendance to 225 deputies."

He added that "the Council will continue to hold its meetings until the end of this month to pass several laws and decisions in the event of a continued parliamentary presence, like the parliamentary presence today."

He pointed out that "the other option will be the rate of a weekly session in the event of a quorum and can only be important issues."

The House of Representatives held, on Monday, its normal attendance of more than 220 deputies and voted during a number of laws, including the law of the House of Representatives.

The deputy of the National Alliance Mohamed Chihod, on Monday, the existence of 36 draft law is expected to vote in the House of Representatives after the adoption of the law of the general budget for 2018, stressing that among them "important" laws belonging to large segments.

The Chihod said in a press statement that "there are 36 draft laws ready to vote after the completion of reading the first and second reading and the completion of discussion," noting that "these laws are waiting for the quorum in the next sessions to pass."

"These laws include the Health Unions Act, which is considered an important legislation to be adopted in addition to the Nurses Act," he added, noting that "these laws are the latest work of the House of Representatives for its current session."

The MP for the National Alliance Hilal Sahlani confirmed earlier that the blocks and components of the National Alliance is in the process of mobilizing its deputies to resolve the problem of non-quorum of meetings and pass the laws stalled.

On February 3, the House of Representatives voted on the draft budget bill for 2018 in full

http://sumer.news/ar/news/2682.....8%AA%D9%87

Edited March 6, 2018 by DinarThug

[nannab]

8 minutes ago, Joe Sutherland said:

I thinking something is going on because I've never seen this kind of change on Google.

May or may not be the start of what we've been waiting for be exciting none the less!

 

3 minutes ago, 6ly410 said:

Something is cooking with all those hcl news...... 

 

We will find out soon enough.   

[pokerplayer]

3 minutes ago, nannab said:

 

 

We will find out soon enough.   

 

I thought Davis was going to keep us informed befored he RV'd it ?

 

  The scoundral !! 

 

pp

[Floridian]

1 hour ago, Joe Sutherland said:

Google the exchange rate!

It's changed!

0.0017…!

 

Here you go!

 

1 Iraqi Dinar equals

0.0017 US Dollar

 

[CaptainBVI]

If it's a glitch, it is not isolated.

 

Edited March 6, 2018 by CaptainBVI
Admins, There seems to be another thread on this subject. Please move this if appropiate. My appologies for the inconvenience.

[Rmc10]

If that's all it went up by I'm still holding on to it.

[pokerplayer]

1 minute ago, Rmc10 said:

If that's all it went up by I'm still holding on to it.

 

 

At my age with what I have I would be giggling on cloud 9 and be set for the rest of my life !! 

 

pp

[CaptainBVI]

Just now, Rmc10 said:

If that's all it went up by I'm still holding on to it.

Mr Rmc10,

Agreed, same here.

With movement on multiple sites it appears to be more than a glitch.

As a good friend of ours says, "Maybe something, maybe nothing" but it is interesting to say the least.

GO MOOLA NOVA!

 

[Rmc10]

2 minutes ago, pokerplayer said:

 

 

At my age with what I have I would be giggling on cloud 9 and be set for the rest of my life !! 

 

pp

 

I'd be able to buy a used car... lol

[pokerplayer]

1 minute ago, CaptainBVI said:

Mr Rmc10,

Agreed, same here.

With movement on multiple sites it appears to be more than a glitch.

As a good friend of ours says, "Maybe something, maybe nothing" but it is interesting to say the least.

GO MOOLA NOVA!

 

 

Rmc is a she and not a he  LOL  

 

  pp