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The "National Oil" law knocks on the door of Parliament


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The "National Oil" law knocks on the door of Parliament

 
  Baghdad: Hoda Al-Azzawi
 
After the appeals submitted by the Federal Court, the Central Bank and oil experts, Law No. (4) of 2018 regarding the establishment of the "Iraqi National Oil Company", which was voted on by the House of Representatives in its previous session, here is the draft law that returns to the Council again after making amendments to it from Before the Council of Ministers, to vote on it again after reading it by the Parliamentary Oil and Energy Committee.
The draft law of the National Oil Company, "the amended version," arrived in the House of Representatives last week, after the Parliamentary Oil Committee demanded to send it more than four times during the time of the government of Adel Abdul Mahdi and during the current government of Mustafa Al-Kazemi. An exclusive interview with Al-Sabah: “This law was approved from the previous session, but some of its provisions were objected to by the Federal Court, so its implementation was suspended, and some of the items that were objected have now been amended, and the law is currently in the Parliamentary Oil and Energy Committee from He postponed the debate and presented it to the House of Representatives for a vote.
Al-Halbousi stressed that "this law is one of the important laws, so we are going to see that (the Iraqi National Oil Company) be a global company like (Aramco) and major international companies," noting that "this company (if its law is approved), some extractive companies will join it," It is about nine companies, separated from the Ministry of (Oil) in its management, and its management is independent from the Ministry, and the companies are North Oil, Basra Oil, Central Oil and some other extractive companies, and the general manager responsible for them is at the rank of a minister, and there is an executive director in addition to two deputies and a commission Administrative, so we aspire to this company as the backbone of oil imports in Iraq. "
It seems that the great controversy caused by the law when it appeared and voted on in Parliament in an "unprecedented speed" in 2018, will return again when it is presented to the vote again.
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1 hour ago, horsesoldier said:

Hope to Allah someone there knows how to operate one of those real tricky Door Knobs so they can open the damn door . . . they'd better not want to form a committee to study that :lol: 

One of these days, one of these days these Iraqi jackasses are going to surprise the hell out of you. They will actually do something right for a change. In Army terms, the situation in Iraq is normally TARFU or SNAFU. Normally in Iraq everything is SUSFU or FUBU or FUBAR. I'm sure you know what I mean...We on Dinar Vets have on this site watched Iraq perform many Imperial FU over the years. But: A broken clock is right, once a day. :flagsmiley: One day, you'll see: they will actually do something right, one day. When that happens, you will be so shocked your brain will not know how to process it. It will screw up your brain for a day. You will consider calling up Dr. Phil for advice. When they finally do something right, that will shock you so much, you will likely fall off your chair, onto the floor. 

 

One of these days. :rodeo::cheesehead:

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A proposal to manage the region’s oil with Baghdad and reformulate the national company law
  
(Baghdad: Al Furat News) The Minister of Oil, Ihssan Abdul-Jabbar, described the nature and direction of the negotiator in the Kurdistan Regional Government in a (positive) spirit that is in harmony with the directions of the central government, to reach a formula for constitutional solutions to disputes over the production and export of crude oil in Kurdistan.

Announced Abdul - Jabbar, in a press statement on the "Proposal for the establishment of an oil company in the Kurdistan region to manage the operations of extraction and export in the fields of the region, technically linked and administratively under the chairmanship of the region and the Federal Ministry of Oil, according to the project to reach a final agreement between the federal government and the region similar to the oil companies operating in the governorates produced.
Revealed Minister of Oil, on the positive understandings between the central government and the Kurdistan region regarding the production and export of oil produced in the fields of the region within the ongoing negotiations between the two parties, and related to the oil policy in the region in accordance with the constitution in effect and the interests of all the Iraqi people.
Abdul-Jabbar said: “We believe that the region - according to the data on reality - has positive moves to resolve the points of separation and dispute over the nature of the management points of the oil fields in the region, and the quantities of crude oil exported to global markets,” indicating the emergence of positive indications that were evident during the talks with Kurdistan, she confirmed The presence of new visions and ideas for the region to manage the oil fields with the federal government. ”
After the appeals submitted by the Federal Court, the Central Bank and oil experts, Law No. 4 of 2018 regarding the establishment of the" Iraqi National Oil Company ", which was voted by the House of Representatives in its previous session, here is a draft The law goes back to the parliament again after making amendments to it by the cabinet, to vote on it again after reading it by the Parliamentary Oil and Energy Committee.
The draft law of the National Oil Company, "the amended version," arrived in the House of Representatives last week, after the Parliamentary Oil Committee demanded to send it more than four times during the government of Adel Abdul-Mahdi, and during the current government of Mustafa Al-Kazemi.
Head of the Parliamentary Oil and Energy Committee, Haybat Al-Halbousi, said in a press statement, "This law is approved from the previous session, but some of its provisions were objected to by the Federal Court, so it was suspended, and some of the items that were objected have now been amended, and the law is currently in The Parliamentary Oil and Energy Committee for discussion and presented to the House of Representatives for a vote.
Al-Halbousi stressed that "this law is one of the important laws, so we are going to make (the Iraqi National Oil Company) a global company such as (Aramco) and major international companies."
He noted, "This company (if its law is approved) will be joined by some extractive companies, and it is about nine companies, separated from the (oil) ministry in its management, and its management is independent from the ministry, and the companies are North Oil, Basra Oil, Central Oil and some extractive companies. The other, and the general manager responsible for it is at the rank of a minister, and there is an executive director in addition to two deputies and an administrative body. Therefore, we aspire for this company to be the backbone of oil imports in Iraq. "
It seems that the great controversy caused by the law when it appeared and voted on in Parliament in an "unprecedented speed" in 2018 will return again when it is presented to the vote again.
Ammar Al-Masoudi

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Good morning Yota691. Thanks for all  of your recent updates - and for all the work you and the rest of the DV staff does to keep its members correctly informed.

 

I  look forward to watching things unfold in the coming days. Hopefully Trump had a stern chat when the new Prime Minister visited DC weeks ago. If I wwre Trump I'd be pretty ticked off to learn how the international aid and donations from the US were squandered and  essentially tolen by its government - and that I'd do what I could to rectify the matter and settle the score. 

 

I recall an article prior to the last election  in which he stated publicly that "we should just go in and take the oil from Iraq."  He now has an opportunity at a more civil means of balancing the debt between our nations.

 

I'm confident in the outcome of the upcoming election, and I'm also confident that he knows certain things have to be dealt with while he's president (such as the SCOTUS hearings, etc.)

 

Hopefully etc. includes pressure on Iraq to change the rate of the IQD,  an to minimize and/or eliminate thee economic trade and currency wars - in one form or another.

 

The US could substantially reduce or eliminate its debt -in a single move -if played out properly.  I recall reading years ago about a  currency deal in the Reagan or Clinton era  that fell thtough "in the 11th hour"  that would've alleviated our nations entire debt in a single deal; he's in a phenominal position to do just that -and for good reason as (to the best of my recollection) our nation's debt prior to Obama's presidency was only around 4 Trillion Dollars.

 

 

Regardless of whether or not the latter occurs, the news out of Iraq has been more than exciting as of late regarding  a realistic exchange rate in the IQD.  It's a perfect time - and not a day too soon -  from my perspective.

 

Hopefully my choice of attachment properly reflects the size and importance of this thread's title...

 

Presence

 

 

 

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Been saying for a long time that we could settle all National debts, strengthen our banks, etc., and decouple from China, etc.  Biden knows this all too well and would love to usher this in only to mismanage it and turn America into Europe, etc.

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8 hours ago, Rochester said:

One of these days, one of these days these Iraqi jackasses are going to surprise the hell out of you. They will actually do something right for a change. In Army terms, the situation in Iraq is normally TARFU or SNAFU. Normally in Iraq everything is SUSFU or FUBU or FUBAR. I'm sure you know what I mean...We on Dinar Vets have on this site watched Iraq perform many Imperial FU over the years. But: A broken clock is right, once a day. :flagsmiley: One day, you'll see: they will actually do something right, one day. When that happens, you will be so shocked your brain will not know how to process it. It will screw up your brain for a day. You will consider calling up Dr. Phil for advice. When they finally do something right, that will shock you so much, you will likely fall off your chair, onto the floor. 

 

One of these days. :rodeo::cheesehead:


Quite ready to shocked in a most positive fashion $$$$$$ after nearly 17 years. Probably have a bowel malfunction the day ( God only knows when and he sure ain’t telling ) we see a RI/RV.

Preparing to Stand By as we watch the SNAFU unfold. Gotta love the military jargon. Nothing quite explains life better than that. How I miss the Cavalry.
The 

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Articles 111 and 112 will be a true blessing for the Iraqi people and it is long overdue! Whoever included that in the Iraqi Constitution  really had the Iraqi's  best interest in mind. This is the icing on the cake and I am ready for my big ole slice!!

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I  agree guys. If the Iranians flunkies in Parliament don't try to block the White Paper Economic reform and Khezemi win the election (and he will) I believe 2021 maybe the year Iraq claims it's rightful place in the international community. I remember reading an article some years ago that nothing would happen until 2020. I have been around for a while and I must admit, I have never seen this much positive work down in Iraq. 

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3 hours ago, Johnny Dinar said:

It's hard not to get excited... But it is starting to feel like thing is about to blow!!!! Go RVvvvvvvvvvvvvvvvvvv

You haven’t been in this that long. I’ll get excited when I’m on the way to da bank. 
Not knocking ya, there is A LOT of great news. 
GO RV!!!!!

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