Iraq is not likely to pass a hydrocarbon law anytime soon

[k98nights]

Iraq “has Little Interest in Oil Law”

Posted on 13 February 2013. Tags: hydrocarbon law, Iraqiya, Iraqiyya, oil law

By John Lee.

A leading Sunni figure has said that Iraq is not likely to pass a hydrocarbon law anytime soon, as the government has little interest in pushing a draft through parliament.

Adnan Al-Janabi, a member of the Iraqiyya party, and the head of Iraq’s parliamentary oil and energy committee, told Reuters:

“It is at the bottom of the government’s list. The centralists of the ruling party have no interest to sustain a federal policy or pass a federal law … Therefore the government and IOCs (independent oil companies) will continue the risk of working in a legal vacuum.“

A draft for the unified Iraqi hydrocarbon law has been under discussion in parliament since 2007, but infighting among the country’s factions has so far thwarted attempts to pass the legislation.

Despite the absence of an oil law, foreign oil companies have signed contracts throughout Iraq. But all involved in the development of Iraq’s energy sector would breathe easier if legal guidelines were in place.

(Source: Reuters)

http://www.iraq-businessnews.com/2013/02/13/iraq-has-little-interest-in-oil-law/

[staunch]

Wasn't this out a week or so ago? Seems like I have read it word for word.

[HYDRANT]

didnt we just see this artical last week i swear we did--thanks

[RAGARCIA62]

I didn't, see it last week. Thanks k98. If this is true, this sucks. More waiting, and waiting.

[Zman6]

They don't need the HCL to raise the rate. The value of the IQD has nearly quadrupled since 2003 without the HCL.

[dontlop]

http://www.reuters.com/article/2013/02/07/iraq-oil-idUSL5N0B790Z20130207

[C.H.]

http://www.reuters.c...N0B790Z20130207

Pretty straight forward, if it is true, not so good news. My opinion is this has turned into political game, Iraq has the resources the which world needs which they know, so in return they are trying to find a way for the rest of the world to play by their rules. What is needed is some serious negotiation to where there is an agreed median on all accounts other wise thing are to become very one sided and that is referred to as greed.

[okane]

They don't need the HCL to raise the rate. The value of the IQD has nearly quadrupled since 2003 without the HCL.

I'm beginning to see it the same way

[cbs71]

They don't need the HCL to raise the rate. The value of the IQD has nearly quadrupled since 2003 without the HCL.

Good point....

[Nelg]

They don't need the HCL to raise the rate. The value of the IQD has nearly quadrupled since 2003 without the HCL.

Did the IQD increase or did the USD decrease in value? Maybe a little of both.

[MyLadiesDaddy]

Iraqiyya party

NUFF SAID!