Today's meeting for the selection of draft oil law

[TonyDownTheShore]

Today .. Meeting for the selection of draft oil law

29/7/2012 12:00 صباحا 07/29/2012 0:00

BAGHDAD - Muhannad Abdul Wahab

Meet in the House of Representatives today to the Commission on oil and energy and the Legal Committee for the selection of a hydrocarbon law that is consistent with the Constitution. Announced that the "morning" Member of the Oil and Energy Rep. Susan Saad, indicating that the Commission on oil and energy accounted for (lobby) to put pressure on the political blocs in order to determine its position of the law. It is noted that there are in the Commission three copies of the oil law, the first version drafted by the former, while the second version introduced in 2007 and wants the Kurdistan Alliance, which, while emphasizes the central government need to adopt a version approved by the Council of Ministers recently. She Saad that the law which will be submitted it will take place during the second reading amendments, as it will include a lot of important topics, similar to other laws that prepared and presented for discussion .. And thus will be the House of Representatives-Faisal to vote on any proposal. "She explained that there are" two versions presented by the government and the proposed Third, in advance of some members of the House of Representatives ", expressing concern about the delay in approving this law," because the country needs him after that the reason behind a lot of problems between Center and the Kurdistan region, "especially that Article 112 is clear, so devolve and warp in line with the interests and approval of the law will determine the central subject and end the controversy. Article (112) of the Constitution as follows:" First: The federal government will administer oil and gas extracted from existing fields with the governments of producing regions and provinces, that the revenues will be distributed in a fair proportion to the population distribution across the country, with a quota for a specified period for affected regions, which deprived them unfairly by the former regime, which were damaged after that, to ensure balanced development in different parts of the country, and shall be regulated by law. Second: The federal government and governments of the regions and producing provinces together will draw up strategic policies to develop oil and gas wealth, so as to achieve the highest benefit to the Iraqi people, relying most modern techniques of market principles and encouraging investment. "

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[lionfish]

Thanks for the post Tony! Now let them get their show on the road!!

COME ON RV!!

[new york kevin]

Great article. My only question is when is the second and third reading going to take place? Ahh, yeah thats the question.

[cws]

Great article. My only question is when is the second and third reading going to take place? Ahh, yeah thats the question.

Well of course.....SOON!!!!!!!!!

[tilak]

Thanks for the post Tony! Now let them get their show on the road!!

COME ON RV!!

I am with you lion fish..

COME ON RV!!!!

[uncirculd]

They tried this a few times, but it appears they are ready to get serious on it.

Great article!

[jcfrag]

From my understanding of current activities, they only need one more reading of the HCL and it is a done deal!!!!

[TheArtistFormallyKnownAs]

They tried this a few times, but it appears they are ready to get serious on it.

Great article!

I would like to think it's because of the new currency coming out ,we need this passed for our RV.

[SWFloridaGuy]

Thanks Tony. That's great to see versions of the HCL submitted for approval. Last year the GOI ratified the HCL draft and submitted it to Parliament. The GOI introduced some amendments which were then reviewed by the Energy Committee. The Commission on oil and energy decided the draft law of oil and gas had constitutional violations and moved to amend the bill to reach a suitable formula that would be agreed upon between the political blocs. The NA objected and postponed it until now. If the political blocs reach a consensus on this today, that would be a huge step in the right direction for the GOI.

[cajunrescuemedic]

Thanks for the post. I'm really surprised that they're doing this during Ramadan. This is good news. GO RV !!!

[zigmeister]

As I recall they really do not need to read it three times.

[Off-the-grid]

I am assuming at least one of these versions of the HCL mandates approval of any contracts by the Parliament. SWFloridaguy's recently posted interview makes it clear that the US has been pushing a law that would circumvent the GOI, giving the oil companies a way to "rule the roost", which sounds just like them. They need to give up on that plan, like, yesterday.

That cat is outa the bag and the ship has sailed. Kiss your outrageous profits goodbye and allow the free market system to do its thing! They hate competition and giving anyone else authority over how they (Big Oil) do business.

Iraq needs to retain as much control over the contracting process as possible, or they will be throwing the baby out with the bath water.

I just hope Shabibi has given up waiting for the HCL to pull the trigger. Maliki was willing to screw the Iraqi people out of who knows how much oil revenue in order to retain the US' backing. I think it could still be a long time before we see an HCL passed, but it looks like these new talks are focusing on the Constitutional problem, which states that Parliament MUST sign off on the contracts!

Peace and Prosperity

[Shelley]

As I recall they really do not need to read it three times.

Good morning Zig... I hope you recall right !!!!

[Off-the-grid]

Let's see if I can post a link to the topic I referenced with the interview.

Interview post

Hope it works!

Peace and Prosperity

[jcfrag]

As I recall they really do not need to read it three times.

As I recall you are indeed right. But given the current state of affairs with the Iraqi Army sitting there in base camps at the Kurds front door, I'm thinking they are really wanting to get these issues resolved once and for all before moving forward. Looks like both the Kurds and the Iraqi goverment are going to have to give a little on this to get it agreed upon..... perhaps once they realize the basics of how to negotiate.....just saying

[zigmeister]

As I recall you are indeed right. But given the current state of affairs with the Iraqi Army sitting there in base camps at the Kurds front door, I'm thinking they are really wanting to get these issues resolved once and for all before moving forward. Looks like both the Kurds and the Iraqi goverment are going to have to give a little on this to get it agreed upon..... perhaps once they realize the basics of how to negotiate.....just saying

Yes they will.