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Breaking News: Progress in KRG-Baghdad oil talks

TrinityeXchange

By TrinityeXchange,
in Iraq & Dinar Related News

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amhvl
amhvl

Stryker sent me a text about an hour ago regarding a conversation with his translator. His translator told him he watched on Arab TV an announcement that the HCL had been agreed upon and is being sent

TrinityeXchange
TrinityeXchange

i am hoping someone here has a paid subscription to Iraq Oil Report. i can't get to the rest of the article. this is very very good information! Progress in KRG-Baghdad oil talks Oil Minister Abdu

easyrider
easyrider

Thanks and its what i have heard as well i dont think its coincidence neither. We can only hope they have finally agreed they need to move forward.

ladychurch Newbie

ladychurch

Posted
Posted

This is what Adam posted earlier on another site:

9-13-2012 Newshound Guru Adam Montana ALL of the news that comes out of Iraq must be questioned. ...we have two very conflicting articles on Iraq's potential with the HCL - one very poor, one very good, and BOTH come from reputable sources! With that said, I try to read as much as possible, take it all with a grain of salt, and form my opinions based on what I believe to be accurate...

9-13-2012 Newshound Guru Adam Montana Talabani is an important part of the current Iraqi situation, so I do believe it is important that he be present for the RV announcement and resulting changes but I don't see him as the "catalyst". In order for this to be successful, the waters need to be fairly calm and ducks need to be in a row. From what we can all see and what many of us are hearing from contacts both local and overseas...we are extremely close! But we still need those calm waters.

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fnbplanet Apprentice

fnbplanet

Posted
Posted

""Newshound Guru Adam Montana Talabani is an important part of the current Iraqi situation....""

I just have to imagine that Shabibbi would want to be there for an RV also, and he CANNOT miss this meeting next week.

We all need to take a deep breath and realize that "the devil is in the details", and there will be things to be worked out before they hit the button. If they have worked out the Peshmerga pay issue, they may have settled more than is being reported. These would all be "preliminary" agreements, and need to be drawn up and get everyone's final approval, and THEN they get signed/voted on. I don't see them doing the "RV THANG" until after the conference. They may even hold off until they have the National Meeting (yes, I still think they'll have one, but it will be mostly ceremonial).

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zul Newbie

zul

Posted
Posted

Zul! different article!

Fishing,

I was responding to this news quote by bandid.

By: Shwan Zulal-The Iraqi Cabinet has finally approved the draft Hydrocarbon law and will soon be read in parliament. This latest development comes on the backdrop of another draft oil law, which was introduced by the Iraqi Parliamentary committee for energy pushed, by Iraqiya List and the Kurds.

Incumbent MPs walked out of parliament when the draft was supposed to have its first reading accusing the energy committee for not consulting with the government and calling the draft law weak and insubstantial. The first Hydrocarbon Bill surfaced in 2007 and due to political differences between the competing interests of the political factions and disputes over the legality of the Kurdish contracts, it was delayed since.

The parliamentary committee has always been calling for the enactment of a hydrocarbon law before holding any further hydrocarbon auctioning rounds. However, the Government has not made it its priority to try to push for the law and concentrated on developing the oil and gas sector with little progress. Commentators believe the law might be passed before the January auction. And the Iraqi government is adamant that the 4th round of auction should go ahead regardless of the enactment of the law.

This legal conundrum has created a tremendous amount of uncertainty for Kurdish Region and oil and gas companies operating there. Moreover, other companies operating in the south of the country feel vulnerable too as the Iraqi government does not yet appears to be consistent as some contracts has been renegotiation after nearly two years and deals Shell and Mitsubishi in the south of the country have been delayed.

The enactment of the Oil and gas law -either draft- may give some investors a sense of security and encourage other to come to the country, but unless the law is reached by political consensus and the parties involved willingly agree to adhere to it, the status quo does not change.

Kurdistan Region has been at the forefront of the parliamentary melee for the hydrocarbon law and along with the Iraqiya list have managed to push Al-Maliki’s government to speed up the introduction of government version of the hydrocarbon law. The main aim of the KRG is to make sure that the contracts they entered into stay in place and if they are revised, KRG officials will have a say.

Information coming out of the Wikileaks files suggests that the US state department has advised companies against investing in Kurdistan and especially in the oil sector due to the legality of the contracts. However, some companies have ignored the advice and could not resist what was on offer in Kurdistan. Hunt oil being one example, they bought into Dhok block despite such warning. Furthermore, more talk of potential takeover is emerging in Kurdistan as Tony Hayward, investment vehicle Vallares said to be in final stages of making an offer for Turkish Genel Energy and there has rumours of British listed GKP (Gulf Keystone Petroleum) being up for sale, although denied by the company. These activates can only be an indicator that interest in the region is on the up and investors are cottoning on to the fact that the KRG would not budge to Baghdad. It is also becoming apparent that KRG will make sure the PSCs it has awarded will be honoured as failing to do so make KRG irrelevant.

With the issue of the Kurdish oil contracts becoming the focus of the Iraqi lawmakers and Kurdistan region being shelled and bombed by both Iran and Turkey. The Iraqi government has acted with impunity and so far failed to defend its “citizens” in the north of the country. The Iraqi government’s lack of response could only confirm that Baghdad has very little to do with Kurdistan Region and the impasse between Baghdad and Erbil is ever greater. In recent weeks, the KRG have looked weaker and appeared to be losing authority, but Kurdish politicians including the President has come out fighting and condemned the attacks. The massage has been clear to everyone that the Kurdistan Region is here to stay and threatening behaviour from neighbouring countries will not dent her resolve.

Read more:

Sorry if there was any misunderstanding......:D

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Jmasters Newbie

Jmasters

Posted
Posted

Sooo... till Zul chimed in everyone was pretty much stating that HCL is perceived to have passed , or reitterating Adams words of caution on the conflicting articles.Now , I'm confused since Zul said something about breaking up a party,, It is rather late here and I am running on low sleep .. Did it pass or ??? any help would be appreciated on this .. :peace: :peace: :D

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HisHands Newbie

HisHands

Posted
Posted

As I recall, the HCL needs only a vote by Parliament and forgoes the process of a reading three times?. Does anyone have any information regarding that? Butifldrm?

Good Morning Carello-I was thinking that Uncirculd talked about that at one time. She is pretty good with that kind of stuff. Maybe she can jump in here and confirm that.

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bamagirl Newbie

bamagirl

Posted
Posted

As I recall, the HCL needs only a vote by Parliament and forgoes the process of a reading three times?. Does anyone have any information regarding that? Butifldrm?

Someone, maybe Zig, said it does not have to be read 3 times... I am still excited, I was cooking dinner last night and blowing all kinds of money in my imagination, lol. Soon enough!! GM Carrello and all DV peeps!

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Jmasters Newbie

Jmasters

Posted
Posted

Someone, maybe Zig, said it does not have to be read 3 times... I am still excited, I was cooking dinner last night and blowing all kinds of money in my imagination, lol. Soon enough!! GM Carrello and all DV peeps!

First thing I'm doing is bringing all the cash home and taking a picture with me laying on it , then posting it on face book with the words "Na na na na boo boo" :D

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zul Newbie

zul

Posted
Posted

Sooo... till Zul chimed in everyone was pretty much stating that HCL is perceived to have passed , or reitterating Adams words of caution on the conflicting articles.Now , I'm confused since Zul said something about breaking up a party,, It is rather late here and I am running on low sleep .. Did it pass or ??? any help would be appreciated on this .. :peace: :peace: :D

Jmasters

The HCL that we have been waiting for, still need voting by the Parliament.

The cabinet did approved a different draft in August 2011 (as quoted/posted by Bandit) but it was rejected by KRG. Since then, they have been working on a new draft.

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