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


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May it RV with in the next 24 hrs!!!! here's to hope!!! It truly does look like it might happen with in a month or so and I'm all for it!!!

 

GO RV!!!! 

P.S.

The way 2020 has gone, it truly makes sense for the dinar to revalue...

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ERBIL - The Iraqi federal government has proposed the establishment of a new oil company to be jointly managed with the Kurdistan Regional Government (KRG) to operate crude oil production as well as exports from the Kurdistan Region.

This comes as Erbil and Baghdad have already made some good progress in improving their bilateral ties, sparing no efforts to resolve the remaining disputes between the two sides.

Iraqi oil minister, Ihsan Abdul Jabbar, said that "positive understandings between the central government and the Kurdistan Region regarding the production and export of oil produced in the fields of the latter have been reached."

"The ongoing talks between Baghdad and Erbil show new visions and ideas for the region to manage this field

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Democratic Bloc: We strongly support the proposal of the Ministry of Oil, which is a step in the right direction
  
{Baghdad: Al Furat News} The parliamentary bloc of the Kurdistan Democratic Party announced, on Tuesday, its support for the Oil Ministry’s proposal to establish an oil company in the Kurdistan region, describing it as a "step in the right direction."

"The establishment of an oil company in the region is a step in the right direction, but we need more information and details to find out the merits of the matter," said the bloc’s spokesman, Aram Palati.
"We believe that the crises should be solved on the ground and not through statements and political escalation that do not lead us to solutions," he added.
Naji declared, "Supporting all steps that are in the interest of everyone," usually establishing the company "as a step towards resolving the complex dispute between Baghdad and Erbil over oil."
He stressed, "Until now, there is no law for oil and gas, and such solutions may limit tension between the two parties. Therefore, we hope that this step will be in the interest of all Iraqis, as it is a procedural step and will not conflict with the law."
Commenting on the oil and gas law, Naji said, "There is no such thing as the oil and gas law. Rather, it is just drafts that lie in the listings of the Parliamentary Oil and Energy Committee, and the government at the time of Haider al-Abadi withdrew the last version of the law in order to make some amendments to it."
And he continued by saying, "The bill or the draft has not yet been sent to Parliament for discussion," hoping that "the amendments will be in accordance with the provisions of the constitution."
The Minister of Oil, Ihsan Abdul-Jabbar, announced earlier today a proposal to establish an oil company in the Kurdistan region to manage the extraction and export operations in the fields of the region, linked technically and administratively to the presidency of the region and the Federal Ministry of Oil, according to the draft final agreement between the federal government and the region similar to operating oil companies In producing governorates.
 While Abdul-Jabbar described the nature and orientation of the negotiator in the Kurdistan Regional Government in the spirit (positive) 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.
Wafa Al-Fatlawi

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12 minutes ago, yota691 said:
Democratic Bloc: We strongly support the proposal of the Ministry of Oil, which is a step in the right direction
  
{Baghdad: Al Furat News} The parliamentary bloc of the Kurdistan Democratic Party announced, on Tuesday, its support for the Oil Ministry’s proposal to establish an oil company in the Kurdistan region, describing it as a "step in the right direction."

"The establishment of an oil company in the region is a step in the right direction, but we need more information and details to find out the merits of the matter," said the bloc’s spokesman, Aram Palati.
"We believe that the crises should be solved on the ground and not through statements and political escalation that do not lead us to solutions," he added.
Naji declared, "Supporting all steps that are in the interest of everyone," usually establishing the company "as a step towards resolving the complex dispute between Baghdad and Erbil over oil."
He stressed, "Until now, there is no law for oil and gas, and such solutions may limit tension between the two parties. Therefore, we hope that this step will be in the interest of all Iraqis, as it is a procedural step and will not conflict with the law."
Commenting on the oil and gas law, Naji said, "There is no such thing as the oil and gas law. Rather, it is just drafts that lie in the listings of the Parliamentary Oil and Energy Committee, and the government at the time of Haider al-Abadi withdrew the last version of the law in order to make some amendments to it."
And he continued by saying, "The bill or the draft has not yet been sent to Parliament for discussion," hoping that "the amendments will be in accordance with the provisions of the constitution."
The Minister of Oil, Ihsan Abdul-Jabbar, announced earlier today a proposal to establish an oil company in the Kurdistan region to manage the extraction and export operations in the fields of the region, linked technically and administratively to the presidency of the region and the Federal Ministry of Oil, according to the draft final agreement between the federal government and the region similar to operating oil companies In producing governorates.
 While Abdul-Jabbar described the nature and orientation of the negotiator in the Kurdistan Regional Government in the spirit (positive) 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.
Wafa Al-Fatlawi


Constitutional Rights of the Iraqi People!

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The National Company ... a step for an optimal investment of the oil wealth

 

  Baghdad: Farah Al-Khafaf 

The importance of establishing the Iraqi National Oil Company is increasing day after day, due to the great economic feasibility of it, especially in light of the fluctuations in global oil markets, the problems between the center and the region in this file, in addition to the great openness that it will achieve. Its law stipulates that “according to this law, a public company called (the Iraqi National Oil Company) shall be established, with moral personality and financial and administrative independence, represented by its president or whomever he authorizes, and linked to the Council of Ministers, and the company’s headquarters shall be in Baghdad, and it shall have branches in the producing provinces and offices. Inside Iraq, upon the request of its president and the approval of the Board of Directors, and outside Iraq after the approval of the Council of Ministers.
 

The Council of Ministers had recently approved the draft law of the first amendment to the Iraqi National Oil Company law and referred it to the House of Representatives. The decision included completing the steps for establishing the Iraqi National Oil Company through the Board of Directors choosing a specialized advisory office to work on developing the administrative structure, classifying tasks and responsibilities, and determining the value of assets. In preparation for disengaging from the Ministry of Oil and its ownership of the company, and assigning the Minister of Oil to the duties of the company’s president in addition to his job, to start procedures for the formation of the company’s board of directors to ensure the implementation of the incorporation steps, the Parliamentary Oil and Energy Committee confirms to Al-Sabah the importance of the law in supporting the national economy. To go to enact the amendment bill.

The head of the Parliamentary Oil and Energy Committee, Haybat Al-Halbousi, told Al-Sabah: “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."
 
Oil exploration
As oil expert Hussein Al-Marzouq told Al-Sabah: “The establishment of the company aims, as stated in the law, to optimal investment of oil and gas wealth in the field of oil and gas exploration, rehabilitation and development of fields, production and marketing, as well as investment in the oil and gas transformational industry on technical and economic grounds to ensure The highest returns and the lowest costs for the benefit of the Iraqi people. "
He stressed that "the current circumstance, with the decline in crude oil prices, and expectations that prices range between $ 45- $ 50 during the beginning of the next year to the middle of it, necessitate the speedy establishment of the company and the implementation of its law, away from political tensions or any other influences."
 
Exploration contracts
According to the law, the company relies to achieve its goals on “managing, developing and operating productive fields and discovered and undeveloped fields, concluding exploration, production and export contracts, developing exploration, production, transportation, storage, marketing and related petroleum operations, as well as managing service contracts, which were concluded in licensing rounds. In exploration, development and production, and the development of the national effort in the extraction and marketing operations, the oil and gas industry, and the investment of joint fields with neighboring countries, in addition to managing and operating the main oil pipelines network and export ports.
In the same regard, Minister of Oil Ihssan Abdul-Jabbar stressed in a statement, "The importance of legislating the Iraqi National Oil Company law in developing and developing the oil industry, and strengthening national capabilities in managing and implementing strategic policies for the advancement of the oil industry, indicating that the government and the ministry are keen to build national capabilities in Managing oil wealth, and in maximizing the financial resources of Iraq, through the optimal investment of oil and gas wealth on solid and rewarding technical and economic foundations.
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