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The Dismantling Of The OIL AND GAS LAW on 3 projects to facilitate its adoption in Parliament !


DinarThug
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National Oil Company will be one of the major international oil companies
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7th March, 2018

The oil ministry announced on Wednesday that the National Oil Company will manage the mining, marketing and infrastructure development sectors, saying it will seek to eliminate bureaucracy.

The spokesman for the ministry, Assem Jihad, told "Economy News" that the National Oil Company will be a national company seeking to develop the oil industry in Iraq as well as management of the sectors of extraction and marketing operations as well as the development of infrastructure. 

He added that it will include Iraqi oil companies in addition to the Iraqi marketing company, noting that it will depend on efficiency and experience in the management of joints and seeks to eliminate bureaucracy and will be one of the largest international companies.

Jihad pointed out that the ministry will take the role of "supervisor and plan and intervention is limited to the joints related to the public good."

On the management of fields in the Kurdistan region, he stressed that "the law of the National Oil Company indicates that it is a national oil company responsible for all oil activity within the borders of Iraq, including the Kurdistan region," noting that the company the right to work outside Iraq to achieve the highest benefit and the lowest costs.

He described the oil minister, earlier, the process of voting on the law as "the historic decision, which aims to optimize investment for the management of national wealth and protection and development in accordance with programs and mechanisms developed by the honest effort and national administration."

The House of Representatives voted last Monday on the National Oil Company's proposed law.

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In the table ... know the oil revenues achieved from 2010 to 2017
بالجدول... تعرف على الايرادات النفطية المتحققة من 2010 الى 2017 

7th March, 2018

Al-Ghad Press" on Wednesday received a leaked document including revenues for the period 2010 to 2017, according to the Department of Studies, Planning and Follow-up at the Ministry of Oil. 

According to the document, revenues for the year 2010 reached 1890 barrels per day, while revenues reached 52206.294 million dollars.

While the average crude oil exported for the year 2017, 3288 barrels per day, while the revenues exceeded 53056.647.

The document shows no mention of oil revenues for 2014.
 

5%D9%8154%D9%814-636560232340099023.jpg

Edited by DinarThug
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 .  While oil production tripled ,revenues remained the same ?  It does say  "exceeded "  . What kind of bs is this ?   2014 is somehow missing ? This reminds me of the half assed records kept  on the currency auctions .  They bs all the time and  you would think they'd be better at it .  But not for nerds like us who delve a little deeper than most .

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40 minutes ago, DinarThug said:

Al-Ghad Press" on Wednesday received a leaked document including revenues for the period 2010 to 2017, according to the Department of Studies, Planning and Follow-up at the Ministry of Oil. 

 

3 minutes ago, dinarham said:

 .  While oil production tripled ,revenues remained the same ?  It does say  "exceeded "  . What kind of bs is this ?   2014 is somehow missing ? This reminds me of the half assed records kept  on the currency auctions .

 

It Does Say That It’s From A Leaked Document And Not From A Published Report - There Could Be Any Number Of Reasons For Some Of The Omissions Or Lack Of Explanations ! ;) 

 

:D  :D  :D 

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12 minutes ago, dinarham said:

 .  While oil production tripled ,revenues remained the same ?  It does say  "exceeded "  . What kind of bs is this ?   2014 is somehow missing ? This reminds me of the half assed records kept  on the currency auctions .  They bs all the time and  you would think they'd be better at it .  But not for nerds like us who delve a little deeper than most .

 

i do know in the 2010 - era oil was over a hundred bucks a barrel and malikis thievery and robbing the country of oil revenues was rampant and sickening and thats putting it kindley just seeing the man boils my blood cant see how he could run for dog catcher in iraq and get elected anyways if i remember imf and others had more oversight when abadi became PM who knows the reason about 2014 that is the year maliki let the terrorist in and ordered his army to run away i think isis even had their own oil fields and tanker trucks,, unbelievable .... cheers dv      

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Law of the National Oil Company .. A new era for the development of the economy


07/3/2018 12:00 am 

 

BAGHDAD (Reuters) -  
The House of Representatives voted Monday on a draft law of the National Oil Company, which will contribute to the development of the Iraqi oil industry, which aims to establish an Iraqi national oil company and enable it to carry out its work in the best way possible. National wealth said the academic economist d. Majid al-Baydani said in an interview with Al-Sabah that "the approval of the law of the National Oil Company will be a new era for the oil industry in the country as it will encourage the adoption of advanced scientific and technological methods to manage the national wealth to support the development of the economy." "This will be an important shift in the development of extracting, marketing, transportation, storage and sales to the point of delivery and other oil operations," he said. 

The largest company

Al-Baydani said that "the Iraqi National Oil Company will be the second largest oil company in the world after Aramco and the largest of all international oil companies,which calls for the President to have a degree of experience and efficiency appropriate, commensurate with the powers of the company and capital."
Article 2 of the law establishing the company consists of the capital of the company of (400) billion dinars paid by the government with the approval of the Council of Ministers and the company increase its capital on the proposal of its board of directors and approval of the Council of Ministers after the presentation of the feasibility study. 
As stated in Article 5 of it "The Iraqi National Oil Company invests all the oil and gas areas in all the territory of the Republic of Iraq and its territorial waters and continental shelf, and may share with others the approval of the Council of Ministers if it finds it better to achieve its purposes and has the right to borrow from inside or outside Iraq to finance its investments inside Iraq and outside. 

The development

A member of the House of Representatives Hisham Suhail, in a press statement that "this law is very important to push the development of the energy sector in Iraq forward." 
In turn, said the oil expert Hamza Jeweler: "The duty of this new company to manage the operations of extractive industry, and this will allow the Ministry of Oil to devote to the task of drawing strategies and plans to develop the energy sector in Iraq." 
According to analysts, the move, which has been under way for years, revives a company originally established in the 1960s and then merged with the Oil Ministry in 1987. Four funds While the oil and energy parliamentary committee revealed the inclusion of the Iraqi National Oil Company A minimum of 10 percent is placed in four boxes with the first experience in the country, and one of the funds will give each Iraqi citizen residing within the country a share of that  percentage.


On the other hand, oil prices rose in global markets during trading on Tuesday, for the fifth session in a row, supported by strong expectations on the demand and the possibilities of informal communication, which seeks OPEC with oil producers rock. Demand growth The International Energy Agency (IEA) expects oil demand to grow over the next five years, with estimates that the United States will cover 80 percent of global demand, while the Organization of Petroleum Exporting Countries (OPEC) will grow at a slower pace. US oil production hit a new high in November after recording 10.057 million barrels per day (bpd), surpassing the record high of 10.044 million bpd in 1970. OPEC oil ministers met with rock producers in the United States in Houston on Monday on the sidelines of the "Serawick" conference. May delivery

Brent crude for May delivery rose more than 0.2 percent to $ 65.70 a barrel, and US crude futures for April delivery rose 0.3 percent to $ 62.76 a barrel. US crude hit yesterday's biggest daily gain since February 14

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2 hours ago, DinarThug said:

 

 

It Does Say That It’s From A Leaked Document And Not From A Published Report - There Could Be Any Number Of Reasons For Some Of The Omissions Or Lack Of Explanations ! ;) 

                It also begs the question as to why some entity would take the time and effort to cobble up this document .Are the exact oil revenues from 2010 to 2017 available for everyone to see ?  Leaked documents have a way of back firing 

:D  :D  :D 

 

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Deputy: Citizen share in the People's Fund is investmentable but Laureth is not sold
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8th March, 2018
The member of the Committee on oil and energy parliamentary Zaher Abadi, Thursday, March 8, 2018, that the share of the Iraqi citizen in the People's Fund within the law of the National Oil Company is investmentable, but it is not sold nor sold, while ruled out that there is a challenge to the law of the great welcome that he received Of the Ministry of Oil and the Council of Ministers.

Abadi said in an interview with local media that "the share of the citizen who will be located within the citizen fund or the People's Fund headquarters within the law of the National Oil Company can invest," noting that "this arrow to Ayurth is not sold and not bought and when the death falls."

He added that "the reconstruction fund for the oil-producing provinces has nothing to do with petrodollar allocations, but represents additional support, especially as this National Oil Company is working in those provinces and needs to strengthen its relationship with the community and get broader powers."

Abadi said that "the four funds represent the vision of the Committee on oil and parliamentary energy and is based on economic and practical basis and we believe that everything included will benefit the state and lead to stability in order to contribute to the activation of investment," stressing that "there is welcome from the Ministry of Oil and some of the participants in the Council of Ministers By legislation of the law, therefore, there is no fear of us to have any appeal by the federal government to the federal law. "

The House of Representatives voted during the meeting held on March 5, 2018 on the proposal of the law of the National Oil Company, while the parliamentary oil and energy committee revealed that the law included the deduction of at least 10% put in four funds with the experience is the first in the country, The funds will be given to each Iraqi citizen residing within the country.

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On 3/6/2018 at 4:32 PM, Flyboy42 said:

Sure smells like HCL... We've been waiting a long time to see some action on this. Adam's gonna love this...

 

From what little I know I believe this is great progress.........but

 

Still more work to do.....which may, or may not, take some time.......

 

To get the HCL in place and up and running.....JMO

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Goldman: Global demand for oil remains on track for growth in 2018
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8th March, 2018
Goldman Sachs said on Thursday its forecast for oil demand growth in 2018 at 1.85 million bpd, despite recent signs of a slight slowdown, citing strong performance at the start of the year and accelerating demand in the second quarter. 

"Oil data for January indicate a strong growth in global demand, consistent with strong economic momentum with the entry of 2018," the bank's analysts said in a note.  Goldman Sachs attributed the recent drop in oil prices to seasonal factors, saying the data for the last 10 years indicate that weak demand may come this time in the first quarter, after it was previously in the second quarter.  "This new pattern suggests that while demand expectations for the second quarter may be low, the seasonal demand drop may already be taking place, placing oil demand growth in a sudden upward trend this spring," analysts said.

While an economic data set published last week below market expectations and trade disputes and demand for oil may weaken, the effect is likely to be gradual and could be offset by a weaker dollar, the bank said.  "We still expect the overall macroeconomic situation in 2018 to continue to support demand for oil, and our demand growth forecast for 2018 remains at 1.85 million barrels per day, well above the average forecast," Goldman analysts said. 

The outlook for demand exceeds the growth of shale oil producers and other non-OPEC producers and will lead to further declines in stocks in the third quarter below the five-year average, resulting in a new price rally, the bank said.

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(Sumer News) published the details of the four funds listed in the law of the oil company

BAGHDAD - A member of the Committee on oil and energy parliamentary, on Thursday, the allocation of four funds in the law of the National Oil Company passed by parliament last Monday, indicating that among these funds citizen fund.

Ibrahim Bahr al-Ulum said in a press statement that "the citizen fund guarantees the share of one share for each citizen of the profits of the company distributed equally, stressing that this is the beginning of the relationship of the citizen oil wealth, which was contained in the Iraqi Constitution in Article <111>, which states that oil and gas is Belongs to the Iraqi people in all regions and provinces. "

"The second fund is the generational fund that represents the interest of the country in its coming generations, because the oil is a depleted wealth," he said, adding that the fund saves a share to future generations of profits from financial returns in the form of guarantees.

Bahr al-Ulum pointed out that there is a great gain through the implementation of the law, is that the parliament and the government in the ongoing debate on reducing the rates of profits transferred to the last and directed to the four funds, which only named two of them, according to his statement, saying that this guidance gives the government mechanism To diversify their other economic resources and not rely entirely on oil revenues. "

 He pointed out that the people under the law will tighten the control of the work of the company, as well as the restoration of the company's previous role as it was in the seventies of the last century.

The law of the National Oil Company will be implemented after six months of approval, according to Maja in one of his paragraphs.

On February 3, the House of Representatives voted on the draft budget bill for 2018 in full.

A parliamentary source said that "the House of Representatives and during its ordinary meeting, today, completed the vote on the draft budget law for the year 2018 in full."

Prime Minister Haidar al-Abadi congratulated the Iraqi people for launching the general budget law for the year 2018, and called on the ministries, institutions and departments of the state to carry out their duties in the best way.

Al-Abbadi's office said in a statement that the last here is all the Iraqi people to launch the general budget law for 2018, and enable the government to carry out its responsibilities and implement its policies and development projects and service and its economic and social program and secure the rights and interests of citizens and salaries of employees throughout Iraq.
http://sumer.news/ar/news/2685.....9%81%D8%B7

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The Iraqi parliament voted on Monday (March 5th) to establish a new national oil company to manage the energy sector in the country in an effort to advance the development of the energy sector in Iraq and to ensure the exploration, development, production and marketing of oil resources in the fields and land allocated to it by law on behalf of The Iraqi state, and increase production and development of oil and gas industry and related facilities and facilities.

Prime Minister Haidar al-Abadi said in a speech during his weekly press conference that the law of establishing the National Oil Company is important and strategic and aims to support the national effort in the exploration and extraction of oil, adding that the national effort continues along with licensing rounds Oil ".

"The company has for the first time achieved a great achievement for the Iraqi people through the formation of four funds where at least 10% of the funds will be deducted from," the head of the oil and energy parliamentary committee Ali al-Bahadli told a joint press conference with the members of the committee. Revenue to be distributed to those funds ".

He added that "the first fund will be to support the capital of the company and the second is the citizen fund, which includes the transfer of the country's wealth to the Iraqi people, where allocated shares for every Iraqi citizen resident within Iraq and put a mechanism to hand over those amounts in addition to mechanisms to prevent the provinces that do not deliver oil quotas to the federal government" .

Al-Bahadli added that "the third fund is a generation fund, which will work the government to develop mechanisms to develop allocations for those generations, while the fourth fund is to support oil-producing provinces," stressing that "these percentages will be distributed in accordance with instructions to be placed within the rules of procedure of the company."

The move, which has been under way for years, revives a company originally established in the 1960s and then merged with the Oil Ministry in 1987.

In 1961, Iraq passed the General Law 80, which by virtue of Iraq issued 95% of the Iraqi Oil Company and announced the formation of the Iraqi National Oil Company in 1964.

In 1972, Iraqi oil was nationalized. In the early years of the Iraqi National Oil Company's management of Iraqi oil alone succeeded in raising production in Iraq from 1.4 million barrels per day to more than 3 million barrels per day in 1980. In April 1987, Oil Minister Issam Chalabi merged with the Ministry of Oil, which became the direct operator in the industry as well as its organizer.

At the operational level, the company was divided into a group of regional companies, including the North Oil Company, based in Kirkuk, and the South Oil Company, based in Basra.

On the share of Iraqis from the profits of this company, one of the lawmakers of the law, MP Adel Khamis said that "this company will control the sale of Iraqi oil as well as the establishment of factories and expansion of refineries as well as all oil derivatives across Iraq, and the company will draw the future policy of Iraqi oil .. Will provide annual profits to Iraqi citizens of all types and categories, whether they are employees or retirees or unemployed, through data and accurate figures can be any Iraqi citizen to enter through the official website of the company and know the annual share.

He added to (One News) that "the Ministry of Oil and over the past years, its policy was subject to the influence of political parties and the security situation in Iraq and therefore occurred a lot of mistakes, but we have been helped after thinking over the past years to control the policy of Iraqi oil and determine prices and quantities sold through the establishment of a company National oil, and will be the front of the Ministry of Oil and draw its policy. "

"The establishment of a national oil company in Iraq is a positive step, especially as its law came out somewhat from sectarian quotas, as the president of the company was forced to have experience of oil work 25 years, because the quota has delayed," said Sadiq al-Bahadli, an economist. The country has greatly affected all joints of the country, because many of the directors-general and ministers fail to perform their duties as a result of quotas and lack of qualifications necessary to work. "

And voted the Kurdish deputies with the majority in favor of the establishment of the new company, despite the dispute between Baghdad and the Kurdistan Regional Government of Iraq, after the referendum last September, the independence of the territory.

The central government assumed responsibility for half of the oil fields under control of Iraq's Kurdistan region in 2014, including the oil city of Kirkuk, after the region voted for independence in the referendum, which Baghdad opposed.

http://oneiraqnews.com/?aa=new.....qF2OWrwaM9

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8-3-201801.jpeg

 

 

Prime Minister Dr. Haider Al-Abadi heads a ministerial energy committee meeting

 

8 - March - 2018

 

 


Prime Minister Dr. Haider al-Abadi on Thursday chaired a meeting of the ministerial energy committee. 



During the meeting, discussions and decisions were taken on a number of topics on the agenda, including the long-term maintenance program with GE for the maintenance of gas units, as well as discussing the delay of the decision of the Energy Committee regarding the prices of fuel oil supplied to the laboratories. 

They also discussed the drilling of three wells in West Qurna 2 and the pipeline to transport Iranian gas to the production stations in Basra, in addition to the tender design and construction of the banks of insulation in the field of Gharraf.

The Committee has taken a number of other resolutions, in addition to following up on the implementation of the directives and resolutions adopted at previous meetings.

Head Office Ministers
8 . March - 2018

 

http://pmo.iq/press2018/8-3-201802.htm

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Oil: 1400 graduates from oil training institutes

Oil: 1400 graduates from oil training institutes 
 
2018/3/9 15:32
The Ministry of Oil confirmed its keenness to appoint all graduates of the oil training institutes for the academic year 2016-2017 and distribute them to the oil companies in accordance with the terms of reference and the necessary requirements in this regard.

 

A statement of the ministry received the agency {Euphrates News} a copy of it, "It prepares graduates of the oil institutes with the basic base of the task that provides the oil sector with the technical elements of the medium and can not be indispensable in contributing to the development of the national oil industry."  "The ministry is committed to its previous commitments to provide employment opportunities for graduates of technical institutes in spite of economic conditions and challenges and to reduce the degrees of employment granted to the ministry by the concerned authorities." 

The statement added that "this issue takes the interest of Minister Jabbar Ali al-Allaibi, who instructed earlier to the Ministerial Committee to provide grades and the preparation of lists of Almchmolin with a view to accelerate the appointment and distribution of oil companies according to need and competence, after the issuance of the Federal Budget Law 2018 and its instructions.

He pointed out that "the number of employees covered by the appointment of 1400 graduates will be appointed in accordance with Resolution No. 1 of 2016," stressing "its commitment to the controls and instructions in force in this regard."
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National Oil Company Act of 2018

 

 POSTED ON 08/03/2018

بعد مرور حوالي السنة على رفع الحكومة مشروع قانون شركة النفط الوطنية شرع مجلس النواب في جلسته رقم 14 بتاريخ 5 آذار 2018 على القانون مجلس النواب نشر على موقعه […]

After the passage of one year on the lifting of the government draft law of the National Oil Company, the House of Representatives in its meeting No. 14 on 5 March 2018 on the law


The House of Representatives published on its website on 7/3/2018 the following document and it is not clear whether these are the final versions approved by the Council or the formula of the first reading. To download this version click on the following link

Iraqi National Oil Company Law - Iraqi Council of Representatives

As we have stated from the Attorney General Adnan al-Janabi the following final version. Click the link below

The law of the National Oil Company for the year 2018 as reported to the network by MP Adnan al-Janabi

With the greetings of the editorial board of the network of Iraqi economists

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Republic of Iraq Law of the National Oil Company for the year
 
 
In the name of the people the presidency of the republic
 
 Based on what was approved by the House of Representatives
 Based on the provisions of item
 (61) or (1) of Article (73) and Article (1) of the Constitution, the President of the Republic decided to issue the following law:
 No. (8) for the year
 
 National Oil Company Law
 
Definitions
 
 - The following terms and phrases for the purposes of this Law shall have the following meanings:
 INOC First: Company: - National Oil Company (Iraq National Oil Company)
 Second: The Board: - The Board of Directors of the Company
 Third: The President: - Chairman and Chairman of the Company. A company owned by: - Each company wholly owned by the company.
 Fifth: People of news and competence: - The practice in affairs of news, economic, legal, administrative or technical, which qualify them with their scientific background and experience to work in the company or companies owned

 Sixth: The Rules of Procedure: The internal regulations issued by the board of directors of the National Oil Company of Al-Arqiya to regulate the affairs of the company or any company owned in a manner that does not contradict the provisions of the law.
 
Incorporation
 
 
   Article (1): The establishment of a branch of the National Bank of Iraq, which is based on institutionalized institutions, political institutions, and administration, and is owned by a woman or a citizen, is authorized and linked to the ministers' Inside Iraq, a hero from Risayya and the approval of the government of the Republic of Iraq and outside of Iraq after the assassination of the Prime Minister.
 
 
  II. Territorial waters and continental shelf The Republic of the Republic exercises its functions in all areas of the Al-Arak, on behalf of the Al-Azraq State.
 
Objectives
  3-Article The company aims at the best exploitation of the oil and gas wells in the field of oil and gas exploration, rehabilitation and development of fields, inta, marketing and all related activities in addition to stammar in the oil and gas manufacturing industry on the basis of technical and economic to ensure the highest returns and the lowest costs in order to achieve the highest benefit for the people of the world.

 - The company adopts the following means to achieve its objectives :

4 - Article I - Management, development and operation of producing fields and fields discovered and not developed. Second: The contracts for exploration, import and export according to the policy of the State, in a manner that does not contradict the provisions of the Constitution. III. Development of exploration, inte, transport, storage, marketing and related petroleum operations.
4- The management of the service contracts which were concluded in the licensing rounds in the exploration, development and inte, and obligates the company to return the contracts concluded and amend them in a way that will benefit the people of the country.
 Fifth: Development of the national effort in the operations of marketing and marketing, oil and gas industry, and joint fields with neighboring countries.
 Management and operation of the main oil pipeline network and export harbors.
7. Establishing and financing companies owned by them to carry out their work on the basis of economic, financial and community feasibility and with the approval of the Council of Ministers.

 
Capitalize the company
 
 5 - Article I - the company's capital consists of:. The value of the assets of the owned companies, which is valued at 1 consultant office selected by the Board and approved by the Council of Ministers.

  (BHD 1 billion as operating capital paid by the Bank)
 
The company shall allocate its capital in the first item as needed, provided that the increase is made by the Board of Directors and approved by the Board of Directors after the presentation of the economic decision.
 
Thirdly, the local company may work in the same way as the bank, which has less or less interest in foreign currency and has the right to deal with all banks and banks within the country. Circulation through the Central Bank of Egypt.
 
The company contracted from any entity inside and outside Al-Arak to finance its sustainability with the approval of the Council of Ministers.
 
Company Structure
 
 6-Article Board of Directors: - The Board shall consist of the following: First: The President of the Company. Second Vice President: Executive Vice President and Vice President Third Vice President: Vice President of Arbaa Oil Company for Procurement Affairs: Deputy Minister Fifth: Natural Warners' Agent in the Region Member Members 3 Sixth: Chairman of the Board of Directors of the Companies owned Seventh: Illness News Members

Article 7 The Company shall establish an employee with the rank of Minister with at least 1 primary university degree and one year of experience in the field of competence in the field of energy and at least for the service of the company and its finance to the third party and implement the decisions of the council and the sharaf to draw the company and implement the company policy and operations B. Direct responsibility of the nearest to the oil marketing company. 5 years national, appointed in accordance with the Constitution of the extension. The first vice president is the executive director of the company and 2 shall be under the rank of undersecretary of the minister with at least 20 undergraduate degrees and a news in the field of foreign industry with a minimum of one year and supervise the technical, contractual and economic affairs of the company. The Vice-President of the President is a specially employed officer who holds at least an initial university degree and a minimum of 20 years experience in the field of specialization. He is responsible for the administrative, financial and legal affairs of the company. . The First Deputy and the First Deputy shall be appointed by the President of the Company and approved by the Council of Ministers in accordance with the legal contexts. 1. The Chairman of the Board of Directors of the owned companies mentioned in Article 4 of the Board of Directors shall be chosen as the Chairman of the Board of Directors of the Company. The Oil Marketing Company shall be the Chairman of the National Board of Directors. The first member shall be chosen from among the foreign companies owned according to the size of the company on a regular basis for one year and Patricia. From the Chairman, and to the Chairman of the Company and with the approval of the Board of Directors Ziad Tamil companies owned by the Board of Directors to a maximum of five members.

. 5. The members of the Board of Directors shall be nominated by the President and approved by the Council of Ministers in accordance with the legal contexts.
 
 The company is composed of the following companies: 2 - Oil Exploration Company of the Drilling Company c. Oil Company of sight D - North Oil Company LLC - Missan Oil Company - Oil Company Al-Wasat - Dhi Qar Oil Company - Oil Marketing Company (SOMO) - Al-Sharqiyah Transport Company
 
 
 
Thirdly, the item (I am a member of the Mansur Al-Shaikh Companies) of this Article is a general manager with a certificate of 2 years (fifteen years). At least 15 undergraduate degrees in the field of specialization, with a minimum duration of (less than one year), according to the terms of reference of each of the companies approved by the Ministry of Finance, The Council and the approval of the Minister of Oil and the Council of Ministers.

 Fifth of this article and own to the company. The companies listed in poverty 1 are eliminated without any obligation and the company has all the rights and liabilities of the companies. 2. In the exploration of aircraft related matters, the Company shall transfer all rights, all rights, development and intents.
 
Functions of the Board of Directors of the Company
 Article 8
 
 The Council shall assume the following functions: Approve the final accounts of the company and submit them to the Bureau of the Federal Audit 1 for auditing and presenting them to the Council of Ministers for approval. . Approving the annual budget and presenting it to the Council of Ministers for approval. 2. Approve plans for annual and future use and development, and follow up on their implementation plans. . To draw up and develop the administrative, financial, organizational and technical plans necessary for the management of the Company 4, taking into consideration its social, health, environmental, privatization and other aspects of the company, in order to achieve the objectives of the Company. . Develop strategies and policies for exploration, development, import, export and industrialization 5, and plan the development and development of the petroleum industry and policies and programs of alternative energy to the oil sector and the Council of Ministers.

Develop policies and programs for the development of the infrastructure necessary for the sustainability of the Internet, the use of technology and unique work systems, and adopt methods to ensure continuous improvement and development of management. . . Develop policies to rehabilitate, train and develop cadres. The policy of transparency, combating corruption and good governance in the oil and gas industry. . To establish environmental protection controls and to work on halting pollution through the development of alternative energy sources. . Develop plans to encourage the private sector and program for rehabilitation and development for the purpose of participating in the construction of oil industry and development of various energy sectors. . Setting the controls to take advantage of the possibilities and knowledge of non-energy companies 11 on the basis of competitiveness and economic feasibility in order to maximize the benefit of the rogue, as guaranteed by the Constitution. . 12 - Setting up controls for the use of consultants, experts and advisory companies specialized in internal and external to develop technical, technical, accounting and administrative systems and all related to their current and future work and determine their remuneration. . The exercise of all powers and rights vested in the Company under the legislation and in accordance with the oil policy of the State. . The Council may delegate some of the tasks stipulated in Article (1) of this Article 14 to the President. Second- . The Board meets at least once a month by calling from the President

. An emergency meeting of the Board may be convened by a Chairman or at the request of a reasoned party 2 who provides condolences to members. . The Board shall be convened in the presence of any members, including the President. The Vice-President of the First Vice-President shall replace the President in absence and in the absence of the President. . The Board shall take policy, contracting and stammar decisions by an absolute majority of 4 members of the Council. . The Chairman of the Company invited the members of the Energy and Oil Committee of Parliament and members of the Energy Committee of the 5th Parliament of the Region and the chairmen of the Energy Committees of the Council of Producing Governorates and the members of the Board of Directors of the owned companies to provide advice to attend the meetings of the Council, Meeting of the President of the Company
  Article 9 The President shall undertake the following functions: Prepare and present the planning budget and submit it to the Board before the lapse of months from the beginning of the first fiscal year. . . To spend expenses and to operate the accounts of the Company within the limits determined by the Council. And supervision of the employees of the company and the conduct of their work and discipline. 3. Provide reports to the Board in periodic, monthly, quarterly and annual reports on the progress of work in the Company and associated companies, and to publish them regularly on the company's websites and related companies

The boards of directors of the companies owned by the five commissioners, and what is presented to the directorate are appropriate for the council, and the president has the right to present what they see about them and the lawyers and to take the loans from them. . Preparation of the public balance sheet, loss and loss accounts and the sixth report on the results of its operations during the last financial year and its presentation to the Board. 7. The Company shall exercise the other powers vested in it by the Council for the purpose of achieving the interests and conduct of its business. 8.. To ensure that the management is transparent and accountable to the KG. Preparing annual and future plans for development and submission to the Board for approval.
 
The company has rights to Waltz
 
 
                                             11- Article 1 - The company is committed to the oil policy of the State Second - in case the Minister of Oil is convinced that there is a hole in the board of directors, the Minister has the right to submit a proposal to the Council of Ministers to bring certain changes to the Council of Ministers and be binding to the Governing Council.

The Company shall deduct a sum covering all the costs of the Istamari and the operating and not less than the average cost in all the fields of the investor for each barrel of crude oil and gas produced in addition to a certain percentage of usury. This shall be determined by agreement between the company and the financial and oil ministries and planning and approved by the Council of Ministers. , And each year is deducted from the revenues of the oil and gas. The settlement of the accounts between the company and the financial company after the end of the financial year of the company and after the completion of the final accounts and the approval of the Financial Control Bureau.

 Article 12
First - The Company's financial assets and liabilities arising from the sale of crude oil and gas and the quantities that the Company may receive. In addition to other products, the company consists of aesthetic cars
 Less expenditures as set out in article 11. Third: Arbas distributes the company in the following manner: 90 - State treasury: The ratio of 1 percent to 1 percent of the company's contribution to the state treasury is determined by the federal budget law. ) Of this item shall be distributed to the Company after deducting the percentage allocated in the following form: (a) a percentage of the balance of the Company's share capital, and the Board of Directors shall determine the mechanisms and areas of disposition of the reserve to achieve the objectives and objectives of the Company. Citizen's fund) distributed on shares of equal value to all citizens residing in the community, according to the priority of the community, and may not sell and share or share shares and fall at the Wafa

 C. Shares of residents residing in regions and governorates that are not organized in a region that refrains from delivering the oil and gas revenues produced to the company are excluded from the shares and their maturity is added to the rest of the shareholders. Dr.. Ratio of lbs to. For the purpose of implementing the strategic projects in the governorates in which oil is used for the company, the Board of Directors shall issue the instructions for poverty (
 Of this Article under the Rules of Procedure. Fourth: The Company's share capital shall be equal to (m) the amount payable by virtue of the provisions of the circular, and on the basis of the estimates approved by the Board in the annual budget. The accounts shall be settled at the end of the financial year at the end of the Audit Bureau Federal Finance.
 
General and final provisions
   13-Mada
 State Employees and Employees of the State of Kuwait and the Employees of the State of Bahrain in the year 2008 (Amendment No. 22 of 2008) (14). 2014) for the year 9 (amended) and the Unified Retirement Law No.
 
Second: To replace the incentives of the employees of the company from the provisions of the law of salaries of employees of the state and the public sector, and this shall be determined by a system issued by the Council of Ministers. For the year

Third-party and foreign experts may be employed by private contracts concluded directly by the company. The service in the company and the owned companies shall be regarded as a pension service and shall be considered as the date of entry into force of the law.
   
 Article 14

 Article (2) The provisions of Article (2) of the Penal Code shall be applied in accordance with the income regulations and without prejudice to the provisions of this law.
 
1. The financial year of the Company shall commence on the 1st of January and end on the 1st and the 30th of December of the same year. . The Company's first financial year starts from the date of entry into force of the Law until the 21st of December of the following year. 3.. The Company shall consolidate its annual closing accounts and the accounts of its companies with a single annual closing account.  4 . The Company's accounts shall be subject to the control of the Audit and Audit Bureau. 5. . The audit results shall be submitted to the Council of Ministers for approval
 
  15. Article I-J and Amendments. 1967 for the year 123

II. ("Dissolved"), numbered in two, the Council of the Leadership of the Urals for the year 1987 (for the year 267/1995 (for the year 97) and
 
 Article 16 - The Company and the companies owned by it shall be vested in the following laws: - 1 - Administrative Law. 2 - Public Companies Law 3 - Civil Property Law - 4 - Law for the Establishment of Al-Ajan - 5 Law of Government Contracts and Instructions for Facilitating its Implementation 6 - Sale and Rent of State Property Law and Instructions for Facilitating its Implementation
 
Second, the Ministers shall issue an opinion, in accordance with the provisions of the Articles of Association of the Minister of Finance, in accordance with the provisions of the Law.
 
 
   17. Article for publications and publications in the form of a coherent basis, which provides a basis for establishing the basis for the establishment of institutions for the purpose of establishing institutions for purposes of economy.
 
  Article (1) Article (1) Article (1): The land or real estate shall be expropriated for its own purposes and distributed in accordance with the instructions issued by the Court.

 Thirdly, the main objective of the conference is to promote the institutionalization and institutionalization of economic and social policies, and to establish the foundations of the institutional structures, which are based on the principles and principles of the institutions and the annual budgets. Social, economic, social, social, economic, social, economic, social, social, social, social, economic, social, economic, social, social, social, (6) It is important to contribute to the development of the agricultural, industrial and service sectors, but the activities of all sectors of Iraq shall not serve the public, and not the public sector.
 
 Article 19: Al-Waser shall take the necessary steps within six months from the publication of the law to enable the Company to start organizing its position to carry out its activities, including the assets of its owned companies, transferring financial assets, providing the staff, technical and administrative support, data, And others.

Article 20
 The company does not liquidate the law
 
Article 21 - This law shall be implemented from the date of its publication in the Official Gazette.
 
  Republic of Iraq National Oil Company Law
For the purpose of ensuring the exploration, development, integration and marketing of oil resources in the fields and land allocated to them
 The development of the oil and gas industry and the associated facilities and methods of work on the basis of efficiency, flexibility and competitiveness to maximize the revenues of the people of the people and in accordance with recognized international standards, which requires the formation of the national oil company as a public company owned by the state and reflect the concept of ownership The people of oil and gas and the formation of specialized formations within the organizational structure commensurate with Its role in the management and development of oil and gas fields produced and discovered to promote the oil and gas industry and the development of various other energy sectors in Iraq.
 
This street is Gan On

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38 minutes ago, DinarThug said:

National Oil Company Act of 2018

 

 POSTED ON 08/03/2018

بعد مرور حوالي السنة على رفع الحكومة مشروع قانون شركة النفط الوطنية شرع مجلس النواب في جلسته رقم 14 بتاريخ 5 آذار 2018 على القانون مجلس النواب نشر على موقعه […]

After the passage of one year on the lifting of the government draft law of the National Oil Company, the House of Representatives in its meeting No. 14 on 5 March 2018 on the law


The House of Representatives published on its website on 7/3/2018 the following document and it is not clear whether these are the final versions approved by the Council or the formula of the first reading. To download this version click on the following link

Iraqi National Oil Company Law - Iraqi Council of Representatives

As we have stated from the Attorney General Adnan al-Janabi the following final version. Click the link below

The law of the National Oil Company for the year 2018 as reported to the network by MP Adnan al-Janabi

With the greetings of the editorial board of the network of Iraqi economists

>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>

Republic of Iraq Law of the National Oil Company for the year
 
 
In the name of the people the presidency of the republic
 
 Based on what was approved by the House of Representatives
 Based on the provisions of item
 (61) or (1) of Article (73) and Article (1) of the Constitution, the President of the Republic decided to issue the following law:
 No. (8) for the year
 
 National Oil Company Law
 
Definitions
 
 - The following terms and phrases for the purposes of this Law shall have the following meanings:
 INOC First: Company: - National Oil Company (Iraq National Oil Company)
 Second: The Board: - The Board of Directors of the Company
 Third: The President: - Chairman and Chairman of the Company. A company owned by: - Each company wholly owned by the company.
 Fifth: People of news and competence: - The practice in affairs of news, economic, legal, administrative or technical, which qualify them with their scientific background and experience to work in the company or companies owned

 Sixth: The Rules of Procedure: The internal regulations issued by the board of directors of the National Oil Company of Al-Arqiya to regulate the affairs of the company or any company owned in a manner that does not contradict the provisions of the law.
 
Incorporation
 
 
   Article (1): The establishment of a branch of the National Bank of Iraq, which is based on institutionalized institutions, political institutions, and administration, and is owned by a woman or a citizen, is authorized and linked to the ministers' Inside Iraq, a hero from Risayya and the approval of the government of the Republic of Iraq and outside of Iraq after the assassination of the Prime Minister.
 
 
  II. Territorial waters and continental shelf The Republic of the Republic exercises its functions in all areas of the Al-Arak, on behalf of the Al-Azraq State.
 
Objectives
  3-Article The company aims at the best exploitation of the oil and gas wells in the field of oil and gas exploration, rehabilitation and development of fields, inta, marketing and all related activities in addition to stammar in the oil and gas manufacturing industry on the basis of technical and economic to ensure the highest returns and the lowest costs in order to achieve the highest benefit for the people of the world.

 - The company adopts the following means to achieve its objectives :

4 - Article I - Management, development and operation of producing fields and fields discovered and not developed. Second: The contracts for exploration, import and export according to the policy of the State, in a manner that does not contradict the provisions of the Constitution. III. Development of exploration, inte, transport, storage, marketing and related petroleum operations.
4- The management of the service contracts which were concluded in the licensing rounds in the exploration, development and inte, and obligates the company to return the contracts concluded and amend them in a way that will benefit the people of the country.
 Fifth: Development of the national effort in the operations of marketing and marketing, oil and gas industry, and joint fields with neighboring countries.
 Management and operation of the main oil pipeline network and export harbors.
7. Establishing and financing companies owned by them to carry out their work on the basis of economic, financial and community feasibility and with the approval of the Council of Ministers.

 
Capitalize the company
 
 5 - Article I - the company's capital consists of:. The value of the assets of the owned companies, which is valued at 1 consultant office selected by the Board and approved by the Council of Ministers.

  (BHD 1 billion as operating capital paid by the Bank)
 
The company shall allocate its capital in the first item as needed, provided that the increase is made by the Board of Directors and approved by the Board of Directors after the presentation of the economic decision.
 
Thirdly, the local company may work in the same way as the bank, which has less or less interest in foreign currency and has the right to deal with all banks and banks within the country. Circulation through the Central Bank of Egypt.
 
The company contracted from any entity inside and outside Al-Arak to finance its sustainability with the approval of the Council of Ministers.
 
Company Structure
 
 6-Article Board of Directors: - The Board shall consist of the following: First: The President of the Company. Second Vice President: Executive Vice President and Vice President Third Vice President: Vice President of Arbaa Oil Company for Procurement Affairs: Deputy Minister Fifth: Natural Warners' Agent in the Region Member Members 3 Sixth: Chairman of the Board of Directors of the Companies owned Seventh: Illness News Members

Article 7 The Company shall establish an employee with the rank of Minister with at least 1 primary university degree and one year of experience in the field of competence in the field of energy and at least for the service of the company and its finance to the third party and implement the decisions of the council and the sharaf to draw the company and implement the company policy and operations B. Direct responsibility of the nearest to the oil marketing company. 5 years national, appointed in accordance with the Constitution of the extension. The first vice president is the executive director of the company and 2 shall be under the rank of undersecretary of the minister with at least 20 undergraduate degrees and a news in the field of foreign industry with a minimum of one year and supervise the technical, contractual and economic affairs of the company. The Vice-President of the President is a specially employed officer who holds at least an initial university degree and a minimum of 20 years experience in the field of specialization. He is responsible for the administrative, financial and legal affairs of the company. . The First Deputy and the First Deputy shall be appointed by the President of the Company and approved by the Council of Ministers in accordance with the legal contexts. 1. The Chairman of the Board of Directors of the owned companies mentioned in Article 4 of the Board of Directors shall be chosen as the Chairman of the Board of Directors of the Company. The Oil Marketing Company shall be the Chairman of the National Board of Directors. The first member shall be chosen from among the foreign companies owned according to the size of the company on a regular basis for one year and Patricia. From the Chairman, and to the Chairman of the Company and with the approval of the Board of Directors Ziad Tamil companies owned by the Board of Directors to a maximum of five members.

. 5. The members of the Board of Directors shall be nominated by the President and approved by the Council of Ministers in accordance with the legal contexts.
 
 The company is composed of the following companies: 2 - Oil Exploration Company of the Drilling Company c. Oil Company of sight D - North Oil Company LLC - Missan Oil Company - Oil Company Al-Wasat - Dhi Qar Oil Company - Oil Marketing Company (SOMO) - Al-Sharqiyah Transport Company
 
 
 
Thirdly, the item (I am a member of the Mansur Al-Shaikh Companies) of this Article is a general manager with a certificate of 2 years (fifteen years). At least 15 undergraduate degrees in the field of specialization, with a minimum duration of (less than one year), according to the terms of reference of each of the companies approved by the Ministry of Finance, The Council and the approval of the Minister of Oil and the Council of Ministers.

 Fifth of this article and own to the company. The companies listed in poverty 1 are eliminated without any obligation and the company has all the rights and liabilities of the companies. 2. In the exploration of aircraft related matters, the Company shall transfer all rights, all rights, development and intents.
 
Functions of the Board of Directors of the Company
 Article 8
 
 The Council shall assume the following functions: Approve the final accounts of the company and submit them to the Bureau of the Federal Audit 1 for auditing and presenting them to the Council of Ministers for approval. . Approving the annual budget and presenting it to the Council of Ministers for approval. 2. Approve plans for annual and future use and development, and follow up on their implementation plans. . To draw up and develop the administrative, financial, organizational and technical plans necessary for the management of the Company 4, taking into consideration its social, health, environmental, privatization and other aspects of the company, in order to achieve the objectives of the Company. . Develop strategies and policies for exploration, development, import, export and industrialization 5, and plan the development and development of the petroleum industry and policies and programs of alternative energy to the oil sector and the Council of Ministers.

Develop policies and programs for the development of the infrastructure necessary for the sustainability of the Internet, the use of technology and unique work systems, and adopt methods to ensure continuous improvement and development of management. . . Develop policies to rehabilitate, train and develop cadres. The policy of transparency, combating corruption and good governance in the oil and gas industry. . To establish environmental protection controls and to work on halting pollution through the development of alternative energy sources. . Develop plans to encourage the private sector and program for rehabilitation and development for the purpose of participating in the construction of oil industry and development of various energy sectors. . Setting the controls to take advantage of the possibilities and knowledge of non-energy companies 11 on the basis of competitiveness and economic feasibility in order to maximize the benefit of the rogue, as guaranteed by the Constitution. . 12 - Setting up controls for the use of consultants, experts and advisory companies specialized in internal and external to develop technical, technical, accounting and administrative systems and all related to their current and future work and determine their remuneration. . The exercise of all powers and rights vested in the Company under the legislation and in accordance with the oil policy of the State. . The Council may delegate some of the tasks stipulated in Article (1) of this Article 14 to the President. Second- . The Board meets at least once a month by calling from the President

. An emergency meeting of the Board may be convened by a Chairman or at the request of a reasoned party 2 who provides condolences to members. . The Board shall be convened in the presence of any members, including the President. The Vice-President of the First Vice-President shall replace the President in absence and in the absence of the President. . The Board shall take policy, contracting and stammar decisions by an absolute majority of 4 members of the Council. . The Chairman of the Company invited the members of the Energy and Oil Committee of Parliament and members of the Energy Committee of the 5th Parliament of the Region and the chairmen of the Energy Committees of the Council of Producing Governorates and the members of the Board of Directors of the owned companies to provide advice to attend the meetings of the Council, Meeting of the President of the Company
  Article 9 The President shall undertake the following functions: Prepare and present the planning budget and submit it to the Board before the lapse of months from the beginning of the first fiscal year. . . To spend expenses and to operate the accounts of the Company within the limits determined by the Council. And supervision of the employees of the company and the conduct of their work and discipline. 3. Provide reports to the Board in periodic, monthly, quarterly and annual reports on the progress of work in the Company and associated companies, and to publish them regularly on the company's websites and related companies

The boards of directors of the companies owned by the five commissioners, and what is presented to the directorate are appropriate for the council, and the president has the right to present what they see about them and the lawyers and to take the loans from them. . Preparation of the public balance sheet, loss and loss accounts and the sixth report on the results of its operations during the last financial year and its presentation to the Board. 7. The Company shall exercise the other powers vested in it by the Council for the purpose of achieving the interests and conduct of its business. 8.. To ensure that the management is transparent and accountable to the KG. Preparing annual and future plans for development and submission to the Board for approval.
 
The company has rights to Waltz
 
 
                                             11- Article 1 - The company is committed to the oil policy of the State Second - in case the Minister of Oil is convinced that there is a hole in the board of directors, the Minister has the right to submit a proposal to the Council of Ministers to bring certain changes to the Council of Ministers and be binding to the Governing Council.

The Company shall deduct a sum covering all the costs of the Istamari and the operating and not less than the average cost in all the fields of the investor for each barrel of crude oil and gas produced in addition to a certain percentage of usury. This shall be determined by agreement between the company and the financial and oil ministries and planning and approved by the Council of Ministers. , And each year is deducted from the revenues of the oil and gas. The settlement of the accounts between the company and the financial company after the end of the financial year of the company and after the completion of the final accounts and the approval of the Financial Control Bureau.

 Article 12
First - The Company's financial assets and liabilities arising from the sale of crude oil and gas and the quantities that the Company may receive. In addition to other products, the company consists of aesthetic cars
 Less expenditures as set out in article 11. Third: Arbas distributes the company in the following manner: 90 - State treasury: The ratio of 1 percent to 1 percent of the company's contribution to the state treasury is determined by the federal budget law. ) Of this item shall be distributed to the Company after deducting the percentage allocated in the following form: (a) a percentage of the balance of the Company's share capital, and the Board of Directors shall determine the mechanisms and areas of disposition of the reserve to achieve the objectives and objectives of the Company. Citizen's fund) distributed on shares of equal value to all citizens residing in the community, according to the priority of the community, and may not sell and share or share shares and fall at the Wafa

 C. Shares of residents residing in regions and governorates that are not organized in a region that refrains from delivering the oil and gas revenues produced to the company are excluded from the shares and their maturity is added to the rest of the shareholders. Dr.. Ratio of lbs to. For the purpose of implementing the strategic projects in the governorates in which oil is used for the company, the Board of Directors shall issue the instructions for poverty (
 Of this Article under the Rules of Procedure. Fourth: The Company's share capital shall be equal to (m) the amount payable by virtue of the provisions of the circular, and on the basis of the estimates approved by the Board in the annual budget. The accounts shall be settled at the end of the financial year at the end of the Audit Bureau Federal Finance.
 
General and final provisions
   13-Mada
 State Employees and Employees of the State of Kuwait and the Employees of the State of Bahrain in the year 2008 (Amendment No. 22 of 2008) (14). 2014) for the year 9 (amended) and the Unified Retirement Law No.
 
Second: To replace the incentives of the employees of the company from the provisions of the law of salaries of employees of the state and the public sector, and this shall be determined by a system issued by the Council of Ministers. For the year

Third-party and foreign experts may be employed by private contracts concluded directly by the company. The service in the company and the owned companies shall be regarded as a pension service and shall be considered as the date of entry into force of the law.
   
 Article 14

 Article (2) The provisions of Article (2) of the Penal Code shall be applied in accordance with the income regulations and without prejudice to the provisions of this law.
 
1. The financial year of the Company shall commence on the 1st of January and end on the 1st and the 30th of December of the same year. . The Company's first financial year starts from the date of entry into force of the Law until the 21st of December of the following year. 3.. The Company shall consolidate its annual closing accounts and the accounts of its companies with a single annual closing account.  4 . The Company's accounts shall be subject to the control of the Audit and Audit Bureau. 5. . The audit results shall be submitted to the Council of Ministers for approval
 
  15. Article I-J and Amendments. 1967 for the year 123

II. ("Dissolved"), numbered in two, the Council of the Leadership of the Urals for the year 1987 (for the year 267/1995 (for the year 97) and
 
 Article 16 - The Company and the companies owned by it shall be vested in the following laws: - 1 - Administrative Law. 2 - Public Companies Law 3 - Civil Property Law - 4 - Law for the Establishment of Al-Ajan - 5 Law of Government Contracts and Instructions for Facilitating its Implementation 6 - Sale and Rent of State Property Law and Instructions for Facilitating its Implementation
 
Second, the Ministers shall issue an opinion, in accordance with the provisions of the Articles of Association of the Minister of Finance, in accordance with the provisions of the Law.
 
 
   17. Article for publications and publications in the form of a coherent basis, which provides a basis for establishing the basis for the establishment of institutions for the purpose of establishing institutions for purposes of economy.
 
  Article (1) Article (1) Article (1): The land or real estate shall be expropriated for its own purposes and distributed in accordance with the instructions issued by the Court.

 Thirdly, the main objective of the conference is to promote the institutionalization and institutionalization of economic and social policies, and to establish the foundations of the institutional structures, which are based on the principles and principles of the institutions and the annual budgets. Social, economic, social, social, economic, social, economic, social, social, social, social, economic, social, economic, social, social, social, (6) It is important to contribute to the development of the agricultural, industrial and service sectors, but the activities of all sectors of Iraq shall not serve the public, and not the public sector.
 
 Article 19: Al-Waser shall take the necessary steps within six months from the publication of the law to enable the Company to start organizing its position to carry out its activities, including the assets of its owned companies, transferring financial assets, providing the staff, technical and administrative support system" rel="">support, data, And others.

Article 20
 The company does not liquidate the law
 
Article 21 - This law shall be implemented from the date of its publication in the Official Gazette.
 
  Republic of Iraq National Oil Company Law
For the purpose of ensuring the exploration, development, integration and marketing of oil resources in the fields and land allocated to them
 The development of the oil and gas industry and the associated facilities and methods of work on the basis of efficiency, flexibility and competitiveness to maximize the revenues of the people of the people and in accordance with recognized international standards, which requires the formation of the national oil company as a public company owned by the state and reflect the concept of ownership The people of oil and gas and the formation of specialized formations within the organizational structure commensurate with Its role in the management and development of oil and gas fields produced and discovered to promote the oil and gas industry and the development of various other energy sectors in Iraq.
 
This street is Gan On

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I’m no expert at anything but that sure smells like an HCL , I’ve stepped in enough of it over the years 😀

B032A468-EB09-403B-A785-3965EF33410E.jpeg

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