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Found 40 results

  1. Happy Friday all! I'm just going to give everyone a brief... briefing. You know anytime the Gurus start harping on the "800" numbers, the news is slow. This time is no different... we've heard nada about anything HCL related in about a week. Bad news - we haven't heard anything HCL related. Good news - once we DO hear something about HCL, I think it's going to be an avalanche. That's it for the briefing! Told you it was going to be brief Good vibes over in the "Go Iraq" thread - I'd suggest hanging out with that crowd rather than the rest of the dinar rumors section, but that's just me. Cryptocurrency is a topic of major interest to many of the members here... we have a dedicated section in the VIP area for it, but let's open this weekly update thread up for anything you want to say regarding crypto. BTC is currently at 10,400 ish, which is the current high for the day. Some pretty interesting news for crypto is on Baakt: Link: Thoughts?
  2. ERBIL — Kurdistan Region Prime Minister Nechirvan Barzani met on Thursday with his Iraqi counterpart Adil Abdul-Mahdi in Baghdad. The two premiers reportedly discussed bilateral ties and ways to resolve the remaining disputes between Erbil and Baghdad. This is the first visit to Baghdad by PM Barzani since the approval of Iraq’s 2019 budget bill which secured the salaries for Peshmerga and public servants of Kurdistan Region. No officials statements have yet been made. Link: "First visit... since the approval of (the budget)"... It's only been a week! This is moving, and fast.
  3. Link: Oil and gas laws: a crux of Erbil-Baghdad tension By Omar Moradi yesterday at 11:14 Iraqi forces drive past an oil production plant as they head towards the city of Kirkuk on October 16, 2017. Photo: Ahmad al-Rubaye | AFP The lack of oil and gas federal legislation has been the root cause of problems between Erbil and Baghdad since the Iraqi constitution was approved in 2005. Now there is a government in Baghdad that has shown its desire to resolve these problems through dialogue, and the success of the new Kurdistan Regional Government (KRG) cabinet depends on whether the oil and gas issue is resolved with Baghdad. According to the constitution, it is the joint responsibility of both the federal and regional government to develop oil and gas resources through a particular oil and gas legislation. But as of yet, no such legislation has been passed, causing disagreements between the two governments. Iraq's parliament unsuccessfully tried to pass a law on oil and gas in 2007. Following that, Kurdish parliament passed its own oil and gas law that same year, allowing the KRG to handle and develop the region’s natural resources. The Kurdistan Region parliament’s oil and gas law gave it complete power over the region’s natural resources, much like an independent and sovereign country. The conditions of the oil market along with the law helped foreign companies invest substantially in the oil and gas sectors in the Kurdistan Region. Investments in Kurdistan Region’s oil and gas sectors reached its peak when oil prices were high pre-2014, surpassing $20 billion. But after oil prices fell in mid-2014, the Kurdistan Region and the rest of the world's oil investors faced a deficit. This shock was especially big in the Kurdistan Region. The federal government in Baghdad cut Kurdistan Region’s share of the federal budget in 2014, after which a big financial crisis rocked the Kurdistan Region. The impact of the crisis is still seen in the Region's economy. The Kurdistan Regional Government (KRG) still owes money it borrowed during this time. The KRG and federal government should resolve oil and budget problems in order for stability and certainty to return to the economy of the Kurdistan Region - otherwise a big opportunity will be missed. The Iraqi constitution can help in this matter. According to Article 112 of the Iraqi constitution, the running of oilfields in Iraq is the responsibility of both federal and regional governments, or the provinces the oil lies in. According to the oil and gas law of the Kurdistan Region, the KRG and its Ministry of Natural Resources are free to sign contracts with foreign companies that serve the interests of the Kurdistan Region. That is why the KRG signed nearly 50 contracts with oil companies after 2007 which are producing substantial amounts of oil and natural gas. The KRG planned to produce a million barrels of oil per day, but couldn’t do so because of the Islamic State (ISIS) onslaught and falling oil prices after 2014. But because of its robust oil and gas legislation, it still has the ability to produce vast quantities of oil and gas in the coming years. The Kurdistan Region’s oil and gas law shouldn’t be abandoned in negotiations between the KRG and federal government on the issue of oil sales and production. The oil and gas law of the Kurdistan Region allows for the setting up of a box for oil revenues. The law also considers the formation of some national companies for the exploration, production, and marketing of oil in the Kurdistan Region. The establishment of these national companies can reinvigorate the oil sector in the Kurdistan Region. With regards to the sale of oil, the Kurdistan Region can give all or some of the oil it produces to the federal government via national companies and ask for its fair share in return. This will not reduce the Kurdistan Region’s control over its oil sector, as the KRG has its own oil and gas law, is running these sectors in its own way, and has established its own mechanism and infrastructure for the last 10 years.
  4. Kurdistan Oil and gas disputes with Baghdad to be addressed once new KRG cabinet formed Sangar Ali | 8 hours ago Share share An oil field in Nasiriya, in southern Iraq. (Photo: Reuters/Atef Hassan) Kurdistan Iraq Erbil Baghdad Oil Gas A+AA- ERBIL (Kurdistan 24) – A delegatiom from the Kurdistan Regional Government (KRG) will visit Baghdad to discuss disputes over Iraqi oil once the new Kurdish government is formed, a member of parliament in the Iraqi capital said on Wednesday. Oil and gas shares and distribution have been the subject of a long-standing dispute between the KRG and the federal government of Iraq since 2003. Following the formation of the new Iraqi federal government in Oct. 2018, both Erbil and Baghdad agreed on the 2019 national budget bill, which requires the Iraqi government to deliver the salaries of KRG employees along with some financial compensation as the KRG hands over the export of 250,000 oil barrels per day (bpd) to the Iraqi oil marketing company – SOMO. Since the beginning of this year, the Iraqi federal government headed by Prime Minister Adil Abdul-Mahdi has delivered the salaries of the KRG employees on a monthly basis, but the KRG is yet to deliver the prescribed amount of oil to Baghdad as indicated in the Iraqi national budget bill. Over the past few weeks, many Iraqi lawmakers have complained in parliament about the delayed KRG oil transfers, questioning the silence of the Iraqi government in that regard. On Tuesday, Abdul-Mahdi, for the first time, issued a warning to the KRG for failing to meet its commitment in the delivery of oil to Baghdad. The warning came after pressure from multiple factions in the Iraqi parliament. A lawmaker for the largest Kurdish faction in the Iraqi Parliament says that once the new KRG cabinet is formed, which is expected to happen in June, an oil and gas delegation from the KRG will visit Baghdad to hold talks. “Today [Wednesday], we, as a group of Kurdish lawmakers, met with Abdul-Mahdi for a short period to discuss the matter. We couldn’t discuss things in details, but agreed that it would be best for the KRG delegation to visit Baghdad and address the issue,” Aram Balatayi, a member of Iraq’s Oil and Gas Parliamentary Committee, and spokesperson for the Kurdistan Democratic Party (KDP) faction in Iraqi Parliament, was quoted as saying on the party’s official website. “The Kurdistan Region has an obligation to hand over the oil to Baghdad,” he continued. “For more than ten years, the Kurdistan Region put effort into and created policies for its oil sector, so it is not easy to now seamlessly hand over the industry to Baghdad. Either the Iraqi government should pay dues of oil companies in the region, or the Kurdistan Region has to sell its oil to pay off those dues. Kurdistan can’t just hand over the oil to Baghdad and Baghdad then refuse to pay the companies.” Balatayi noted that both Erbil and Baghdad could reach an agreement on who would pay the dues and debts of those companies. If it is the KRG, then the Kurdistan Region “has to continue selling its oil,” but should Baghdad decide to absorb those financial obligations, “then this is another subject, and we will have our say at that moment.” The Kurdish lawmaker also noted that Kurds do not have a representative in Iraq’s SOMO and are not sure if they would be given a seat at the table to represent their interests. “There is still an ideology of centralizing power in Baghdad. We have issues with that, and a mechanism should be developed to deal with this,” he added. Gulizar Rashid Sindi, the deputy head of the Kurdistan Region’s Energy and Natural Resource Parliamentary Committee, stated that both the Kurdistan Parliament and the new KRG cabinet should cooperate in this regard. “The Kurdistan Region urges the resolution of the energy question through dialogue and the proper mechanisms,” Sindi told the official KDP website. “The Kurdistan Region will not be bound by Baghdad’s request if it isn't in the interest of the people of Kurdistan.”
  5. I know, it's not Wednesday... Hey everyone! I mentioned recently that the "Weekly Updates" may be switching days - I expected the news to start getting busy, and that is now official! I haven’t picked a specific day yet, and I may not need to. The weekly updates won't be necessary once we have an RV, and the stars are lining up very nicely right now. Fingers crossed on that one. I’ll explain why below, and you might want to strap in for this one! First, the budget was submitted, signed, and looks like it will be passed, with a HUGE keynote - a significantly acceptable portion of the budget going to the Kurds. This has been a major point of contention between the parties over the years, in fact it’s possibly the biggest point of disagreement and reason for delays in the budget approval process in recent history. You can read the budget as it is written and posted here, but it needs to be published in the Gazette to be official. This may be happening yet this week, and if it does... that will be insanely quick. It's barely the first week of February!!! Last year the Budget was boycotted by the Kurds in March, and they threatened to secede over the disputes. THAT is how far we've come in a year!!! If you’re not already squirming, let me tell you - this is awesome news. A happy GOI is a GOI that we can get behind, because it’s one that is more likely to RV. And this is possibly the happiest we’ve ever seen them! That by itself may have been enough reason for me to send out a special email on most weeks, but this week - THIS week - we have more. Maybe MUCH more! I’m trying to contain my excitement, and I’ve been doing a pretty good job of staying (mostly) in my seat, but it’s getting more and more difficult. We may have an HCL agreement shortly! I’ve been on the verge of releasing this information for over a week, and I’ve only held off because THIS is the kind of movement we need to see for an RV to happen, and I didn’t want to release the news without a full confirmation. As the news keeps coming out, this is going to start getting press in other places, so you may as well hear it here. If you’ve been following me for any time now, you know I’ve been on an “HCL-requirement” kick for a couple years now. No HCL = no RV. I've harped on that for years... and now, after a long ride, it's not just on the horizon - it's coming at us, lights flashing and horns blaring! If you have NOT been with me for that long, let me introduce myself! Hi, I’m Adam Montana. The possibility of a Dinar RV has been in the works for a while now - over a decade, in fact. I’ve been following it, and helping tens of thousands of people avoid bad info, for the entire time. The summary on Iraqi Dinar is simple - back in 2003, the country of Iraq went through some stuff and their currency plummeted in value. It was once worth over $3 per one Iraqi Dinar, and now it’s worse than 1000 dinars to $1. It was even worse, so much worse that those of us who got in early enough have already doubled our money. But, and this is why most of us are here in the first place, it stands a fighting chance of going back to it’s former value, or “ReValuing”, upwards to the tune of 100x where it is now or even more. When that happens, those of us who have the current Iraqi Dinar (not the “old notes” with Saddam Hussein’s face on them) will be able to exchange at that higher value, winning us an amazing profit. It’s called a “windfall”, and it’s definitely a real thing. Here’s where yours truly comes in. Throughout this whole venture, and before most of us ever heard of the Iraqi Dinar, I’ve been fortunate enough to have contacts in places that matter to get the absolute best return on the exchange. Because of the loyal group of members here at dinarvets who have committed to work alongside my partners and I in this, we have formed the STRONGEST and BEST CONNECTED group of dinar holders in the world… and this gives us EVEN MORE leverage. It's a snowball effect, and it's a good place to be. In short, we’re going to put more money in our pocket than the average Joe or Mary that simply goes to the bank to cash in. Not only that, but the years of networking and planning for this event have allowed my contacts and I to put together the absolute best strategies for reducing tax liabilities, minimize risk, and even invest after the fact to increase our returns. The best part? There will be no “800 numbers” to call. The VIP group will NEVER part with their dinar as part of their exchange. And if you decide to pay the measly amount of money it costs to join the VIP group, you are ABSOLUTELY GUARANTEED to get a return on that expense when we cash in on the RV, or I’ll refund every penny you spent on VIP. Your time may be running out. Join VIP here, before it's too late. Back to the Dinar, for the past couple years I’ve been saying that we need to see progress on the HCL to see the RV. While other websites and “gurus” are talking about people already cashing in (fake news), or having “secret intel” on the timing of this event… I’ve been telling people to remain calm. That’s one of the reasons thousands of VIP members place their trust in my and the programs here, because I don’t fluff this stuff up just to get people excited. I do the opposite - if there’s nothing going on, I tell it like it is, no matter who gets mad at me for it. (It happens! ) Well… the time that we have been waiting on may be over. There is news out right now that is more encouraging regarding the HCL than ANYthing I have ever seen, and that means we’re almost there. It means this may be your last chance to get in VIP. Your chance to get in VIP may be over before I get this email sent out! And if the RV is announced, and you’re not in the VIP group - you’re on your own. No benefits, no tax benefits, and good luck to you. Now is probably the most URGENT time in this venture to get in VIP. Join here: Remember, there’s a money back guarantee. You have nothing to lose and a LOT to gain. See you in there! GOOOOO RRRRVVVVVV!!!!!!! - Adam Montana P.S. In reading the above, I see that I didn't explain why the HCL is important. In a nutshell, it's important to the Kurds so they get a fair share of oil revenue, and ties in very closely to their concerns on the budget. Both of those issues are melting away, right in front of our eyes. With these two things lining up at the same time, we have the most perfect situation to see an RV that I've ever witnessed. RIGHT NOW is an amazing time to be part of this situation!
  6. Can anyone explain to me why must they pass the HCL law before there can be a revaluation of the dinar? What is the connection? It certainly doesn’t look like the GOI will ever agree on this or even bring it up for a vote. They keep pushing it off to the “next session” year after year... Is it at all possible that we can ever see an RV without the HCL law passing?
  7. Luigi found this article of Dinarian interests... The commentators explain why Iraqis are more concerned about HCL than the rate change. This should help clear up some of the confusion between the HCL & the RV. The rate change will benefit those Iraqis out of country the most. HCL will affect those in country with a pay check every month from oil revenue sales. The rate change will only change the purchasing power of Iraqis in country. 16/8/2018 KTFA... God Lover: Quick question or two. We had read that the citizens will start receiving oil revenue profits (HCL) September 5th. We have also seen many entities being paid, assuming at current rate. With that said, why are some thinking that if the rate does not change prior to Sept. 5th, it would cause anger from the citizens? Just trying to understand how that event is any more significant than previous? Happy Golfer: I think I can touch the surface on this one they are a proud country, a rich country Iraq needs this ri for it’s psychological well being, Iraq’s are winners IMO Harley1: The citizens aren’t concerned with the rate change as it will not directly affect them. Their concern is with the value of their currency, ie it’s purchasing power which impacts their quality of life. The income they will derive from the HCL is like a paycheck from the country’s sale of oil, and I suppose you could say that an increase in currency value or purchasing power is like a big fat pay raise. These are the things they would get upset about if they don’t happen. We hope they happen together and our studies lend credence to that hope. Will one happen before the other or will they happen together? Who knows. But again, the rate (exchange rate against USD) does not concern the citizens. Think of it this way….if the USD’s exchange rate against the Euro tripled tomorrow you’d never know it nor would you care. But if inflation in the US rose to 1000% and milk cost you $36 a gallon and bread was $25 a loaf, you’d be upset if the promise to resolve it didn’t come through amidst a corrupt government being ousted and new monetary reforms being put into play. This is a very simplified version of where Iraq is, IMO of course. The citizen’s blessing comes from the oil paycheck via the HCL and the increase in value of their currency. OUR blessing comes from the increase in the exchange rate against the USD. I hope that helps.
  8. New Kirkuk governor will be decided soon: PUK By Rudaw 23 hours ago Khalid Shwani’s name has been floated as a possible candidate for the post of Kirkuk governor. File photo: Rudaw ERBIL, Kurdistan – A new candidate for the post of Kirkuk governor has been floated by the Patriotic Union of Kurdistan (PUK) as the province remains in political limbo and objections were raised about the PUK’s first nominee. The PUK and KDP expect to reach an agreement on the candidate soon. “The position of Kirkuk’s governor is for the Kurds and it’s the PUK’s share. Among the names discussed, Khalid Shwani is a very suitable candidate because he is from Kirkuk and is familiar with the place,” Salah Dalo, a member of Kurdistan Democratic Party’s (KDP) politburo, told Rudaw on Tuesday. Political posts in the disputed province are shared among the ethnic groups with the position of governor given to the Kurds. Khalid Shwani was previously a member of the Iraqi parliament within the PUK faction. He is currently a member of the party’s politburo. His name was floated in talks between the PUK and KDP, the two ruling parties in the Kurdistan Region. Shwani said on Tuesday he has not been broached on the subject, however. An Iraqi court ordered Kirkuk’s Kurdish governor Najmaldin Karim removed from his post ahead of the September referendum because of his support for the independence vote and backing the decision to raise the Kurdistan flag in the disputed province earlier in the 2017. Karim left the city when the Iraqi army took over in mid-October and Baghdad assigned Rakan al-Jabouri, an Arab, as interim governor. PUK had first suggested Rizgar Ali to fill the position, but the KDP has opposed his candidacy, claiming he belongs to the group that “sold” Kirkuk to Baghdad. The final decision rests with the PUK, Dalo explained. PUK’s spokesperson Saad Pira said they are not in dispute with the KDP over the position. “We will soon decide on who will become the governor,” said Pira in a statement to Rudaw on Tuesday. Prime Minister Nechirvan Barzani, also deputy head of the KDP, confirmed the two parties have discussed the matter, “but we are yet to reach a decision. There will be more meetings on the matter,” he told reporters on Monday. Kirkuk’s Provincial Council has failed to meet regularly since the disputed province came under Iraqi control in mid-October and many of the Kurdish parties fled the city. The KDP did not attend a meeting of the Kurdish parties in Kirkuk on Monday. The party has said they won’t attend a meeting in the city because it is “occupied.” The KDP has asked for the provincial council to meet at a location outside of Kirkuk. Meanwhile, Kurdish parties have said the provincial council is essentially defunct and have accused the acting Governor Jabouri of exploiting the power void. There are also concerns of a new wave of Arabization taking place.
  9. Luigi says... Guru claims HCL is done & Iraqis have been paid. Iraq is out of C7...that means RV? Not varified. Your opine. Go RV. 5 Dec 2017 Bruce... They have completed everything they needed to be complete. When they got admitted into the World Trade Organization, when the United Nations released them from Chapter 7 and put them into Chapter 8 all these things. When the ISX opened last week sometime, all these things are signs Iraq’s sovereignty is there. I just think that the fact we don’t see their new rate right now doesn’t mean it doesn’t exist in country. There are Iraqi citizens that can go to their QI cards and put those in on Thursday and be able to see not only the amount of money but also a new rate and be paid on their portion of the oil revenue sharing(HCL). That is part of Iraq deal. I have been told they would be able to see and have access of their portion of the oil revenue on Thursday.
  10. Mosul will be liberated. Will the Oil Law come before or after Tal Afar? I'm thinking the entire North of Iraq needs liberated with quick political stability through the Oil Law to prevent a civil war from beginning. Does anyone know how strong IS is in Tal Afar? Is this another possible Fallujah?
  11. Parliamentary Legal: For these reasons are not the inclusion of important laws to vote April 13, 2017 BAGHDAD / .. Parliamentary Legal Committee revealed, on Thursday, for the reasons that prevent the inclusion of important laws to vote, as showed that the political blocs do not have the conviction to this moment to pass those laws. The committee member said Amin Bakr's "Eye of Iraq News," that "the Presidency of the Parliament is afraid of important laws that the political dispute the inclusion of fear of dropping the law to vote, and this pays the return of law and read it again under the dome of the parliament," noting that "the Presidency of the parliament awaits the political blocs made up its mind and succession so important laws include the vote, the most important oil and gas law of the Federal Court and others by political differences. " Baker added that "the political blocs did not reach the conviction of resolving their differences on important laws that serve Iraq and Iraqis," ruling out "vote on important laws in the coming period because of what parliament is witnessing political disputes between the various political forces" .
  12. Call block calls to speed up the important laws of legislation before the end of the parliamentary session April 7, 2017 demanded that the Islamic Dawa bloc Presidency of the Council of Representatives and the parliamentary committees concerned to expedite the completion of the special legislation of a number of important laws , procedures before the completion of the current parliamentary session. According to a statement of the block received by all of Iraq [where] a copy of it, confirmed it that "Oil and Gas Development Board and the Council of Federal Service and the law of the Federal Court Rules in addition to the law amending the general amnesty law is one of the most outstanding laws, which should be resolved as soon as possible." Mass "parliamentary blocs and members of the House of Representatives also called for interaction with this requirement and assist in the completion of these laws, which went on some long time , " noting the need to be resolved to see the light soon. "
  13. Urgent Abadi meet with the heads of Kurdish blocs evening History of edits:: 03.06.2016 20:30 • 73 visits readable [Oan- Baghdad] said a source familiar with the heads of Kurdish blocs in parliament , will meet with Prime Minister Haider al -Abadi on Sunday evening. The source told all of Iraq [where] that "the meeting will be held at 10 pm today and is likely to discuss the relationship between Baghdad and Erbil, the outstanding issues between them."
  14. Here's a few encouraging stories. May the elusive RV/RI be close at hand. 2-1-2016 Newshound Guru tlm724 Article quotes: "Oil Minister Adel Abdul Mahdi, in his speech at the forum that there is a national agreement on the importance of re-establishing national oil company, according to a deliberate steps legally and economically to return to the normal situation for the oil sector...and that is every citizen shares in this company...and the law of oil and gas that will be passed" thats very line with what came in the Iraqi constitution, the people are going to get their share of the oil profits finally! *hallelujah* awesome to see them move forward!! 2-1-2016 Newshound Guru Millionday ...FEW DAYS AGO ABADI WAS GOING TO MEET WITH IMF AND THERE WAS TO BE AN ECONOMIC MEETING IN SWITZ -- THIS IS AN ANNOUNCEMENT FROM ABADI`S OFFICE CONCERNING THE RESULTS: “we have coordinated with the Bank and the International Monetary Fund to develop a plan to overcome the financial crisis.” IT APPEARS THAT A PLAN HAS BEEN CREATED TO BRING IRAQ BACK TO A HEALTHY ECONOMY. SO AS WE SEE THEY ARE MOVING FORWARD WITH THE WORLD BANK AND THE IMF IN IRAQ TO OVERCOME THE FINANCIAL CRISIS IN IRAQ.
  15. This is a brief synopsis as to why Iraq can't put the HCL in the Budget right now. This is more a high level overview as to the reasons and a brief to as what the draft will consist of. One would surmise all the Iraqi parliament has to do is include a paragraph in the draft of the budget, get it read and published in the gazette and voila! Immediate RV! It’s not that simple. Here is why. First, the current setup that Iraq has for their oil revenue dates back to the 1950’s. Little of this has been changed. This setup is not designed to distribute and assign privileges to the citizens of Iraq. This means that the revenue went to infrastructure projects instead of salaries and pensions. This setup has failed the country of Iraq and her citizens time and time again. Restructuring this entails dismantling the current process and building from scratch to accommodate Iraq’s Constitution in which will resolve the distribution of privileges and responsibilities between the Ministry of Oil in Bagdad and those in authority in the regions. Second, the oil revenue in the past has failed to supply the residents of Iraq with a continuous supply of electricity and water due to endless corruption of authorities not only at a national level but at a regional and local level as well. This is being addressed by the current government and they are making significant progress, albeit not as fast as everyone would like (case in point Maliki). Third, the on-going negotiations with Erbil presents a sizeable problem for those wishing to invest in Iraq, especially related to oil. Conflicts of interest happen all the time in every part of life. However, this constant flare up presents legality issues with those companies wishing to invest with Iraq. This means there must be a reliable history of successful negotiations with proper follow through. Funds must be allocated on time. Lastly, a change in government can lead to instability in all sectors of the country. This last part has shown that Maliki and his cronies are beyond corrupt. A country that should have become stable after the fall of Sadam has only given way to further corruption or the continuation of such. Abadi is trudging through the muck and mire and getting things done. This process takes time as discovery needs to take place, investigations need to be handled then a fair and just prosecution of those actors need to be shown to the world that Iraq can stem the tide of corruption. The Oil and Gas law, currently a draft, cannot simply be put into the budget as a paragraph to be implemented. In order to rectify the current situation, a proposal of forming a federal council that includes officials from the federal government, provinces and regions. This council then will be tasked with coordinating and negotiating between the Iraqi oil ministry and the provinces, this includes all provinces not just Erbil. The law will also task the feds with the planning and implementation of oil production throughout the entire country. In order to implement the Oil and Gas law this requires a government that can successfully coordinate negotiations and follow through on those terms agreed upon. Once Iraq’s Federal Government has shown it can be responsible and dependable to whosever standards they must show, then and only then can the implementation of the Oil and Gas law, once itself is passed, be put into the budget. The Oil and Gas law is a complex creature and Iraq must get it at least 75% right the first go. Otherwise the fragile country will fracture more than it has now.
  16. Parliament added 16 articles of the budget and the share of Kurdistan, "make their" state of law row Author: HH Editor: BK, HH 12/17/2015 10:58 Number of Views: 388 Long-Presse / Baghdad Parliament approved by an absolute majority, on Wednesday, the draft federal budget law for next year 2016, which amounted to 105 trillion dinars and a deficit up to 24 trillion dinars, the adoption of the price of a barrel of oil to 45 dollars. The session witnessed verbal altercations between the Kurdistan Alliance and a coalition of state law, which objected to the share of the Kurdistan region, but the parliament, "the resolution of the dispute" vote to pass the region's share amounting to 17 percent, unchanged. Federal budget law has delegated, in some of its provisions, the Prime Minister, and the Ministers of Finance and oil, to withdraw treasury bonds worth $ 12 billion, to pay off the debts of the world's oil companies, subject to approval by the House of Representatives. He says a member of the Parliamentary Finance Committee, Sarhan Slevana, in an interview to the newspaper (range), "The deputies of the coalition of state law, have made a request to the Presidency of the Council of Representatives, signed by 113 members, to reduce the Kurdistan region budget to 13 percent, but the proposal did not pass In the voting session, with the adoption rate of 17 percent approved, a counterbalance to the region. " Slevana and added, "The House of Representatives voted on the grounds of the Peshmerga part of the federal system and given percentage of the Ground Forces Command's budget," and points out that Parliament voted to adopt the former oil agreement between Erbil and Baghdad. " Kurdish lawmaker explains, that "140 of the total 240 deputies attended the session, voted to approve the budget of the Kurdistan region," and reveals "Add the Finance Committee 16 articles of the draft federal budget law, including those related to an increase allocations popular crowd and displaced persons." It is noteworthy member of the Finance Committee, that "the addition of these materials came after make transfers in the chapters of the budget exchange", and points out that their "three percent of employees and retirees pay deduction and transfer accounted for 1.5 percent of the popular crowd and the same for the displaced." In turn, carry a coalition of state law, the President of the House of Representatives, Saleem al-Jubouri, the responsibility of passing the province's budget, after the postponement of its own article bearing the number nine, to the end of the session. In parallel parliamentary vote on budget items, cafeteria Parliament witnessed a heated mobility between deputies of the Kurdistan Alliance and other blocs, aimed at resolving the differences to pass the budget of the region, as it is without reducing. This was offset by a whirlwind meetings conducted by a coalition of state law, to support the proposal reduce the share of the region and submit it to the presidency of the parliament. Suggest MP Huda carpets, in a statement to the newspaper (range), that there "was the night before the vote, the heads of political blocs to pass the budget, including the region's share political agreement", and found that "a large part of a coalition of state law was with the vote to keep share the Kurdistan region as it is. " It has drawn the parliamentary bloc of state law, "harsh criticism" of the President of the House of Representatives, after announcing the end of the session. And it saw the press center of the Parliament, a verbal argument between Congress coalition of state law, and the Chairman of the Finance Committee, who was speaking at a news conference. In turn, says MP Zaher al-Abadi, said in an interview to the (range), "The year's budget was adopted in 2016 as the rate of $ 45 for the sale of a barrel of oil," and adds that "the budget deficit up to 24 trillion dinars." Sees committee member parliamentary power, that "the continued decline in oil prices to less than $ 40 will raise the budget deficit to 40 trillion dinars," it continues that "the budget provides for the export of three million and 600 thousand barrels per day, of which three million and 50 thousand barrels of central and southern fields, and the rest of Kirkuk, 300 thousand, and the Kurdistan region of 250 thousand. " The 2016 budget included a provision authorizing the Oil Ministry, in agreement with the Prime Minister and the Finance Ministry, the withdrawal of treasury bonds of up to $ 12 billion, to meet the debt of foreign oil companies, subject to the approval of the House of Representatives, according to Abadi. It goes MP for the province of Basra, that "the oil companies will pay the dues in installments every three months, to be paid on the fourth installment in March of 2017". The Iraqi Council of Representatives, approved by an absolute majority, during its meeting of the 45th of the first legislative term of the second legislative year, which was held on Wednesday, under the chairmanship of its President Saleem al-Jubouri and the presence of 242 deputies, the budget in the next 2016 by 105 trillion and 800 billion dinars, the share of the Kurdistan region of which 17 percent, despite the claim of a coalition of law reduced to 13 percent. The Iraqi Council of Ministers, approved, in (18 October 2015), the financial budget for the coming year 2016, B113 trillion Iraqi dinars and a deficit of 30 trillion dinars. waiting on link, sorry, person gave me the wrong one.
  17. Luigi says... HCL was implimented for a while then re-shelved. We know HCL monies were sent to the Kurds to pasify them. It looks like Baghdad is now ready to re-start the oil revenue sharing. Does this mean the RV/RI is imminent? No. The oil sharing can still be paid out at the old rate or the new. IMO...This is one step closer to economic reform & the RV. For now...Treat as a rumor. Article VARIFIED. Your OPINE. 1 Nov 2015 from an article in Iraq Business News... Iraq’s Minister of Finance Hoshiyar Zebari told the Reuters news agency on Wednesday that RESTARTING the oil-sharing agreement between Baghdad and Erbil was vital for the 2016 national budget, expressing hope that a delegation from the Kurdistan Regional Government (KRG) would help reach an agreement.” WOW…REINSTATE the oil-sharing…REINSTATED AGAIN and both sides implement…This tells me that the HCL has all along be in place…just not implemented. ****** Dhi Qar-where] Oil Minister Adel Abdul Mahdi announced the arrival of Iraq’s crude oil production of the southern ports to record levels. Abdul-Mahdi told a news conference after a deliberative meeting for the provinces over oil management contract in Dhi Qar that “these ports produce 3.8 million barrels an equivalent to historical rates,” adding that “these exports do not include the Turkish port of Ceyhan.” Luigi says... Iraq has been cutting wages & implimenting stern spending cutbacks. How is Iraq finding the money to purchase commercial & fighter aircraft? Could Baghdad be turning the HCL & RV on & off at their own choosing? Something to ponder about.
  18. Kurdish leader: the solution in Baghdad 10/26/2015 0:00 Sulaimaniyah - the morning caused severe oil dispute between the federal government and the KRG severe economic crisis in the region who refuses to abide by previous agreements that provided for the establishment of SOMO marketing of the oil produced in its territory in exchange for the quota in the budget, amounting to 17 percent. The breach or non-compliance with the agreements oil caused Aguetsaah crisis suffocating and reached its peak in recent months to declare Government of the Territory of their inability to pay the salaries of employees in ministries and government institutions for four consecutive months which led to public outcry expressed by mass demonstrations angry in many Kurdish areas with the worsening political crisis. attribute political reasons crisis to what they called the b »individual policy» pursued by the Kurdistan Democratic Party led by regional president Massoud Barzani in dealing with the oil file, and accuse the government, which is dominated by a lack of transparency in the oil policy and »resist» Federal Government without justification, critics retreat from previous agreements Under the export of 550 thousand barrels of oil per day by SOMO versus percent share 17 of the state budget. In a statement made ​​by »Sabah» leader of the Patriotic Union of Kurdistan unique Ossrd stressed that «oil export independently has failed and it is important that the Government of the Territory stop for this policy because the exit from the crisis with half the loss better than total bankruptcy », indicating« We have tried a lot to persuade the provincial government and the leaders of the Democratic Party of the importance of transparency in the oil policy, but they did not listen to us and insisted on their policy wrong domain oil causing sever our share of the state budget and have found that the independent economic policy advocated by caused many disasters, most notably the development decline and delay the local economy for decades backwards ». and about remedy the deteriorating economic situation, the Kurdish leader believes that a return to the federal government and the agreement with them is the safest way, because in light of the continuing deterioration the «all roads lead to Baghdad», and despite the fact that understanding may seem difficult after all that happened, but I think that half the loss better than total bankruptcy, and it must Territory Government is seeking to resume negotiations with Baghdad in order to hold a new agreement adhered to by both parties and come out the region of its economic crisis suffocating, or at least mitigate, especially that things are no longer the most of probability. In a related development, President of the Chamber of Commerce and Industry in the Sulaymaniyah Sirwan Mohammed revealed that the investment projects dropped this year by 90 percent, especially in the field of construction and housing . said Mohammed, to move the local site «Awene» permit, that «as a result of the financial crisis plaguing the region, the investment ratio generally has dropped significantly», adding that «according to available statistics were investment rate in 2013 of about $ 12 billion, while in the current year It has reached a whole billion dollars only, while the projects leave was in 2013 of 127 projects, and this year dropped to only 11 vacation .. In the area of registration of companies the figure was lower than 55 percent this year from 2013, and this is proof that economic growth in decline constant and the financial crisis began to deeply affect the joints of the overall local economy. »
  19. Parliamentary Energy proposes new legislation for oil and gas 12:26: 10/10/2015 Khandan - announced for the Oil and Energy Committee in the Iraqi Council of Representatives, said that there is a tendency for the Commission to move to draft a new proposal for the oil and gas law in case the federal government delayed sending a draft oil and gas law, which decided to withdraw it from the House of Representatives.The committee member said Zaher al-Abadi, that "the Commission will proceed to formulate a proposed new law on oil and gas in the case of the federal government delayed sending the bill, which has decided to withdraw it from parliament along with 55 other bill. "He said al-Abadi told Iraqi Media Network that" the Commission will begin early next legislative term drafted the proposed law and submitted to the Parliament to pass and resolve differences oil between Baghdad and the Kurdistan region and between the provinces own. "Since the adoption of the Iraqi constitution, such as oil and gas law the most outstanding between Baghdad and Erbil files were unable to former House and present to find consensus on a common formula for the oil and gas law.
  20. Abdul-Mahdi: The reluctance of the agreement with Kurdistan Region us a significant gap with serious repercussions Wednesday, 30 September 2015 10:41 Shafaq News / The Iraqi Minister of Oil , Adel Abdul-Mahdi, described the reluctance of the oil agreement between Kurdistan Regional Government and the oil agreement as "a big gap" that have serious repercussions on the economy in the country. Abdul-Mahdi wrote on the social networking pages that "We have reached an agreement with Kurdistan that has became a part of the budget bill, the region received 17% of the actual expenses after deducting sovereign and governing expenses."". He explained that "the region delivers" SOMO "550 000 barrels / day in Ceyhan 300 000 barrels / day from Kirkuk, and the rest from the region unfortunately things went limping." "It was a daily average recipient of 230 000 barrels / day on (1/1 / 2015-10 / 9/2015), in turn the region did not receive but a rate equivalent to what it has given of oil according to the agreement and the law of the budget. So Erbil complained from the weak payments, Baghdad complained from low received oil quantities, and everyone complained about the collapse in oil prices, which were lower than the budget estimates (56 dollars / barrel). " Abdul-Mahdi pointed out that "the reluctance of the agreement with the region is a big gap that have serious repercussions , we had hoped to boost the agreement by mutual trust atmosphere, and move seriously to resolve the outstanding problems, especially exports and management of the Kirkuk oilfields and the settlement of the required dues, both parties are not gaining anything from repeating the previous negative atmosphere, The two parties have an interest in the agreement in order to achieve mutual benefits for all. " Erbil and Baghdad have agreed last year to be the first to export an average of 550 000 barrels of oil through the Turkish Kurdish pipeline for the Iraqi national oil marketing company SOMO by 300 000 barrels from Kirkuk oil fields and the rest from Kurdistan fields in return for Baghdad to send the region's share from the Iraqi public budget amounting to 17 percent of the total, but the two sides often accuse each other of failing to commit to the terms of the agreement, which was incorporated into the general Iraqi budget law for the current year
  21. Financial Kurdistan announce the arrival of the amount of 490 billion dinars to the region Monday, March 23 / March 2015 17:43 [Follow-up where] Ministry of Finance announced in the Kurdistan region on Monday, the arrival of the amount of 490 billion dinars to the treasury ministry of Baghdad. According to media website of the Patriotic Union of Kurdistan spokesman for the Ministry of Finance in the province of Kurdistan Ahmed Abdul Rahman as saying that "the amount of 490 billion dinars arrived today, to Arbil as part of the share of the Kurdistan region of the financial budget." He said, "We hope that the ministry proceed regardless employees' salaries in the Kurdistan region of Shahralaol of the year on Tuesday, the distribution of employees of the Ministry of the Interior salaries and national security in the Kurdistan region, and continue paying salaries to other ministries, according to payroll for the month of the first of this year." ended
  22. Sorry if this has been posted already. After all these years i still have trouble with the search function here at DV Kurdistan alliance: New talks between Baghdad and Erbil to settle oil disputes Sunday, 01 March 2015 13:46 Shafaq News / Kurdistan Alliance revealed on Sunday, a new round of talks that will resume between Kurdistan Regional Government and the federal government to settle disagreement relating to oil. A member of the bloc, Kaweh Mohammad told “Shafaq News", that "The talks between the federal governments and Kurdistan Regional Government will soon resume in order to reach a settlement to the outstanding problems concerning the implementation of the terms of the oil agreement signed recently." Mohammed who is a member in the oil and energy parliamentary committee added that " basic contention point is concerning the issue of the federal government control over oil exports from the region identified by the Baghdad monthly while the region requested to be every 3 months to allow it to adhere to export the agreed amount of oil." Mohammed confirmed that "the region is cant be committed now on a daily basis to export 550 000 barrels of oil in the presence of technical problems related to weather and other conditions that may hinder the export." Under the oil agreement, which was ratified by the federal government and within the budget of 2015 Law stipulates the delivery of Kurdistan Region for at least 250 thousand barrels of oil a day to the federal government for the purpose of export, as well as the export of 300 000 barrels of Kirkuk oil through the region to the Turkish port of Ceyhan
  23. Kurdish delegation Arrives in Baghdad to discuss outstanding issues between the center and the region BAGHDAD - Iraq Press - February 15: informed source in the capital Baghdad, on Sunday, the arrival of the President of the Kurdistan Regional Government, Barzani, and his accompanying delegation to discuss the outstanding issues between the center and the region. "The delegation will discuss the oil agreement between Baghdad and Erbil; to refute rumors that claims that Baghdad and the region is committed to oil Convention", adding that "the oil agreement between the federal government and the Kurdistan Regional Government, provides for the delivery of the Kurdistan region of at least 250 thousand barrels of oil per day to the Federal Government; for the purpose of export. " Admiral ended Deputy: Axis to meet Barzani and Abadi will be the issue of the National Guard and Daash in Mosul Sunday, February 15, 2015 11:35 [baghdad-where] Deputy for the Kurdish coalition, said on Sunday that the focus of the meeting the President of Kurdistan delegation Barzani and Prime Minister of the Federal Government Haider Abadi will be a matter of political agreement and the National Guard and Daash in Mosul along with the oil agreement. And Ahmed al-Haj told all of Iraq [where] that "talks the two sides will also include the participation of the region in the political process as well as the issue of the popular crowd and the National Guard, as well as the possibility of confrontation Daash terrorist gangs in the city of Mosul. The deputy from the Kurdistan Coalition Serwa Abdul Wahid told [where] the provincial delegation, headed by Prime Minister Barzani will meet today Prime Minister Haider al-Abadi. The delegation, headed by the provincial Barzani arrived Sunday morning to the capital Baghdad to discuss the oil agreement between Baghdad and Erbil. A delegation from the Commission on oil and energy in the Federal House of Representatives visited the Kurdistan region last week and met with the provincial government Barzani, who confirmed his government's commitment to the agreement with the federal government, calling on the Commission to deal with the two governments as a third party, and monitor the agreement and the process of addressing the problems. " But Barzani, last Wednesday, said in a press statement that "our biggest problem with Baghdad is that they want to fabricate problems," adding that he "can not calculate the amount of Baghdad, the source of oil a day, and we suggest calculate the amount of oil exported once every three months." The governments in Baghdad and Erbil, announced on the second of December last to reach an agreement in relation to oil exports and the region's share of the budget. The agreement included the export of the Kurdistan region 250 000 barrels per day through Turkey's Ceyhan line with the export of 300 000 barrels of the province of Kirkuk fields through the same line, and delivery of their revenues to the federal government, which agreed to turn the Kurdish Peshmerga forces paying salaries as part of the security system Alaracah.anthy 2
  24. Erbil-Baghdad Agreement approved in 2015 budget The Head of Kurdistan Regional Government Council of Minister, Amanj Raheem, said that Erbil-Baghdad Agreement has gone through legal procedure since it has been approved by Iraqi Council of Ministers. The Head of Kurdistan Regional Government Council of Minister, Amanj Raheem, said that Erbil?Baghdad Agreement has gone through legal procedure since it has been approved by Iraqi Council of Ministers. Later this week, the Iraqi Parliament approved the Kurdistan Region's 17 percent share of the 2015 general budget in a session. The Parliament read the draft budget bill for fiscal year 2015 in the presence of 208 representatives. Raheem said approving the bill by Council of Minister is very important because if delayed, the Government have to send a share of the budget each month starting in January 1, 2015. On the other hand, Iraq?s Prime Minister Haidar Abadi defended his recent agreement with Kurdistan as his cabinet approved the draft budget worth 123 trillion dinars (about $103 billion) on Tuesday. The budget is seen as a direct outcome of the stabilizing relations with the Kurdistan Regional Government and the oil pact Baghdad and Erbil have signed. The agreement on budget and oil exports from Kurdistan Region and Kirkuk is a victory for Kurds and Arabs in Iraq and we are ready to push aside our differences,? Abadi said in an interview with the Mada daily Tuesday. According to the agreement between the KRG and Iraqi Government, Erbil will export 550,000 barrels of oil per day in return for the Kurdistan Region?s 17 percent share of the Iraqi budget, or roughly $1 billion every month.
  25. * Iraqis makes deal with Kurds to export oil * CME hikes margin requirement for crude traders by almost 16 pct * Stronger dollar weighs on oil prices (Recasts and updates with market extending declines; changes byline and dateline, previous LONDON) By Barani Krishnan NEW YORK, Dec 2 (Reuters) - Oil prices resumed their slide on Tuesday after a deal that will add more Iraqi crude to the oversupplied markets, higher margin requirements to trade U.S. crude and a stronger dollar whipsawed oil markets a day after the biggest rally in two years. Iraq's government said it has agreed with Kurdish authorities to export 300,000 barrels per day of oil from Kirkuk and 250,000 bpd from the northern Kurdish region through Turkey. The agreement aims to overcome months of dispute which all but halted exports from Kirkuk. "The Iraqis deal with the Kurds for oil exports is the one headline sticking out in today's market, a reminder that the oversupply in oil isn't going away easily," said Joseph Posillico, an analyst at Jefferies in New York. Benchmark Brent crude oil dropped $1.08, or 1.5 percent, to $71.46 a barrel by 12:34 p.m. EST (1734 GMT) after falling $2 earlier to $70.54. Brent jumped more than 3 percent on Monday for its largest one day gain since October 2012 on concerns that the U.S. shale output, blamed for much of the world oil glut, was shrinking. U.S. crude fell $1.20 to $67.80, after a session bottom at $66.72. It rose 4 percent on Monday for its biggest move up since August 2012. The CME Group Inc, the world's largest commodities exchange, said initial margins for crude oil futures on the New York Mercantile Exchange will go up by 15.6 percent from the close of business on Tuesday, raising the financial requirements for oil traders as the market turned more volatile. "When the exchanges raise margins, it usually does have some effect on prices as it becomes more expensive to hold positions," said a New York-based futures broker, who thought the CME was protecting itself against potential defaults. The dollar hit a 4-1/2-year high, helped by comments from two influential Federal Reserve officials stressing the positive impact on the U.S. economy from the drop in energy prices. A stronger dollar often weighs on prices of commodities denominated in the currency. Losses in the oil markets were pared after comments from Saudi Arabia's former intelligence chief that world's top oil exporter would consider cutting production if joined by many other producers. Former Saudi intelligence chief Prince Turki bin Faisal, said the kingdom would only consider cutting production if other countries, including non-OPEC producer Russia, joined in limiting their output." Saudi Arabia, the most influential member of the Organization of the Petroleum Exporting Countries, sent oil prices into a tailspin last week when it blocked moves by some smaller producers to curb output. "Volatility sometimes begets volatility, and the oil markets are not being helped by all the conflicting signals they're getting now," said John Kilduff, partner at Again Capital, an energy hedge fund in New York. (Additional reporting by Robert Gibbons in New York, Ahmed Aboulenein in London, and Florence Tan and Henning Gloystein in Singapore; Editing by Jessica Resnick-Ault, Dale Hudson, Louise Heavens and Marguerita Choy)
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