JTMagones

BAGHDAD — Iraq's leadership has changed the draft of a long awaited oil and gas law in a way that would give central government more control over the country's vast crude reserves and provoke a clash with the semi-autonomous Kurdistan region. Only on msnbc.com Photo courtesy of Jeni Exley Tainted cantaloupe devastates lives . Investors fear governments can't stop recession Libyans begin their future . Perry’s struggles continue US envoy to China's top priority: jobs back home Penny auction scam targets Craigslist users DGC Records Why Nirvana's 'Nevermind' spoke to a generation . ..The law, a copy of which was obtained by Reuters, would give Baghdad more power to manage and develop the OPEC member's petroleum resources, the world's fourth largest. It alters a 2007 version agreed among political blocs that gave regional powers partial authority over their reserves. The amendments are set to provoke a political fight between Prime Minister Nuri al-Maliki's government and the Kurds, who are part of his ruling coalition and wield considerable clout in the Iraqi legislature. Iraq's Arab-dominated central government, led by Maliki, and the Kurdish region have for years disputed control of Kurdish fields. The row shut down exports from Iraqi Kurdistan from October 2009 to February of this year. "We're still giving space to discussions to resolve this issue. We have not reached the moment of opening fire on Maliki's government," a senior Kurdish lawmaker told Reuters on condition of anonymity. The amended law, approved by the cabinet in late August, has been sent to parliament for final passage, but the legislature's speaker Osama al-Nujaifi said talks to resolve the dispute could take a long time. Advertise | AdChoicesAdvertise | AdChoicesAdvertise | AdChoices. "The amended draft concentrates authority to sign oil deals in the hands of the central government and the oil ministry, while the Kurdish region sought more power in the process of signing contracts," Nujaifi told Reuters. "The only way out of this issue is dialogue and discussions ... it will be very complicated," he said. NEW POWER The amended law would give the oil ministry authority to hold bidding rounds for most oil and gas fields, leaving currently producing fields and discovered but undeveloped fields close to them in the hands of a newly created Iraqi National Oil Company (INOC). The 2007 draft version restricted the ministry to auctions for discovered, undeveloped fields. The changes could result in the inclusion of Kurdish fields in future auctions, which the Kurds say they will not accept. "The amendments to the draft infringe on the constitution, which stipulates that the central government and regional authorities should jointly run oilfields," said Bayazed Hassan, a Kurdish MP and a member of parliament's energy panel. Kurdish and central government officials are discussing the amended law at high levels, and the Kurds have made clear they could review their support for Maliki's government if a resolution is not found, officials said. The new oil law has long been considered vital to securing foreign investment to boost Iraq's oil output, now at around 2.75 million barrels a day, and rebuild its shattered economy. International energy companies want a stable legal framework for oil and gas deals. Iraqi officials have said petroleum resources belong to all sects and ethnicities in Iraq, and logically the central government should manage them. The Kurdish region and the provinces, particularly oil-rich Basra and Sunni-dominated Anbar, have argued for more local control. "Enacting a new oil law is essential to develop Iraq's energy sector and we are seeking to have new legislation, away from political wrangling," Oil Ministry spokesman Asim Jihad said. "Any disputed details in the draft should be left for technical teams to resolve, not politicians." SEAT FOR SHAHRISTANI Advertise | AdChoicesAdvertise | AdChoicesAdvertise | AdChoices. The new draft calls for INOC to control coveted, already-producing oilfields -- Kirkuk's 2.3-billion-barrel Bai Hassan, and the 6-billion-barrel Nahr Bin Umar field in the south, for example. The law would create a federal oil and gas council as the ultimate policy-setter. It would give the council power to approve policies proposed by the oil ministry, agree procedures for negotiating and contracting during bid rounds, and ratify drilling, development and production contracts. Under the old version, the federal council could only draw up policy and issue instructions. The new law eliminates a clause that required the council to have Shi'ite, Sunni and Kurdish representation, and adds a clause reserving a council seat for the deputy prime minister for energy -- now former Oil Minister Hussain al-Shahristani. Kurdish officials see Shahristani as a major obstacle in the tense relationship between Baghdad and Kurdistan on energy issues. He has called for oil contracts signed by the Kurds to be reviewed by Baghdad and turned into service contracts. The Kurdistan Regional Government adopted its own oil and gas law in 2007 and signed more than 40 production-sharing contracts with foreign firms, which Baghdad deems illegal. Copyright 2011 Thomson Reuters. http://www.msnbc.msn.com/id/44638711/ns/world_news-mideast_n_africa

Great Homework!!!!!

I too have had simalar dreams as you fellow people of God have had. I have had the dream of the Tsunami wave and then 3 months to the day America Somoa got hit with one, I usually have drreams that are inadaquete at the time, but then I will have a Dejavue and will remember that I had had the dream and all that I think is that god is telling me where I need to go in my life to be able to reach him when my time comes to face him and ask him if i can sit next to him in his kingdom. If you guys or gals have the same dreams it is a good thing, it jost lets you know that you are making the right decisions in life and he too is leading you down the path to GLORY!!!!

No LOP, so suck that all you haters!!!!!! This is the best news ever, hey Toto were not in Kansas any more.....

YES.........YES........YES.....I have waited 20 years for the anwser to this question and I finally got it!!! Does a Bear **** in the woods? Nope just on the DV web page......

I got godaddy's web page also....

I like the name TAZ...

This is amazing to see how much love people have for Christ our savior, stay strong and keep believing in the faith..

This is great news and with the good lords help we shall all have a better way of living, don't forget to tithe either!!!!

They got a 93 Beamer for 90IQD **** I would pay it

Not blocked and would love to buy one of the cars!!!!

Please Badge me and Thank you!!

I was just wondering about my family and where I lie in the whole freemason and illuninati stuff, In my family tree I am a 11th cousin to Winston Churchill and a 13th to Teddy Roosevelt on my mothers side of course!!!!

These problems that we have and that the world have should not be out of man's control to fix, we as the human race put ourselves into these situations, we need to get ourselves out.......

I am praying for a really nice B-Day present which is on the 5th of sept... GO RV

That would be great i would be able to buy my house just in time for school to start...

Nice Post Trooper!!!

Nice post man I had a dream that the RV would be $1.27 and I have told a few people in the chat room about it but mostly keep my thought and opinions to myself, because of all the people that have been waiting longer than I have for the RV to happen so I am glad to hear that # makes me think back at the dream I had and how happy it made me feel....

Hey Alex I will buy the Pancake batter!!!!!!!! GO RV!!!!

If we were ment to get rich we will and if Bush bought 400million Dinar then there has to be somthing in it....

Good creed to live by!!! Thanks for the post...

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I agree with NWGUY, I thought that is what was going to happen, to me that is the only way that they will be able to handle paying the money to the investors, US, HAHAHAHAHAHAHA!!!

Right on man, GO RV