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Final touches on the amendment of the law of the national oil company


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Editing date: 10/12/2020 14:22 • 23 times read
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[Baghdad-Where]
Member of the Parliamentary Economic Committee, Mazen Al-Faily, on Thursday, made several observations about the licensing round contracts and the National Oil Company law.
Al-Faily said, in a press conference: “We object to Article 15 - first and second of the National Oil Company Law, which repeals the National Oil Company Law No. 123 of 1967 and its amendments and repeals the dissolved Revolution Command Council Resolution No. 79 of 1995 for the following reasons:
1. The laws and decisions included Above to be abolished, the authority of the National Oil Company or the Ministry of Oil is to directly invest in all oil regions, which encourages the national effort in the management and development of natural resources
2. These laws and decisions stipulate that they are to be canceled in the event that the National Oil Company or the Ministry of Oil invests any of the areas designated for it. By partnering with others, if it finds that it is better to achieve its objectives, that a contract for that is done by law.
3. Keeping these laws and decisions in effect will provide a legal justification for Iraq to review and amend the oil licensing rounds unfair to Iraq to achieve the highest benefit to Iraq as stipulated in the Iraqi constitution, because the conclusion of those contracts by the Ministry of Oil with foreign companies violated the provisions of those laws and decisions in force explicitly, and the rules In concluding such contracts, the domestic and international legal principles take into account the constitutional and legal principles of ratification followed in the countries of the parties to these contracts and avoid contravening them.
4. The laws and decisions to be abolished in the event that they remain in effect, they preserve the public ownership of what is in the ground of the natural resources (as stipulated in Law No. 97 of 1967 in Article Three, Paragraph Four) and prohibit any partnership contracts with foreign or local companies. Confirms the legality of the federal government in demanding the region to cancel the partnership contracts it concluded with foreign companies.
5. In addition to what was stipulated in the previous law of 2018, to oblige the national oil company to be formed in accordance with this law to review contracts for licensing rounds and amend them in a manner that preserves the interest of the Iraqi people.
Al-Faily added: "By noticing the above laws and applying them, Iraq can start from solid ground in correcting the fatal error that resulted from the licensing rounds and remedying the heavy damages and losses that the national economy incurs as a result of them."
And he added, "As the dues and costs of the work of foreign licensing round companies have reached nearly a third of Iraq's total oil revenues at some times, and this percentage increases and losses multiply whenever oil prices fall as witnessed by global markets in these circumstances."
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Sumer News: Baghdad .. Member of the Parliamentary Economic Committee, Mazen Al-Faili, on Thursday, made several observations about the licensing round contracts and the National Oil Company Law, while he registered his objection to Article 15 - First and Second of the National Oil Company Law.  

In a statement, Al-Faily said, "We object to Article 15 - first and second of the National Oil Company Law, which repeals the National Oil Company Law No. 123 of 1967 and its amendments and repeals the dissolved Revolution Command Council Resolution No. 79 of 1995 for the following reasons:  

  

1. The above laws and decisions that were to be canceled included the authority of the National Oil Company or the Ministry of Oil to invest all oil regions directly, which encourages the national effort in the management and development of natural resources.  

  

2. Those laws and decisions to be abolished, in the event that the National Oil Company or the Ministry of Oil invests any of the areas designated for it through participation with others, if it finds that it is better to achieve its objectives, that a contract for that be concluded by law.  

  

3. Keeping these laws and decisions in effect will provide a legal justification for Iraq to review and amend the oil licensing rounds unfair to Iraq’s right to achieve the highest benefit to Iraq as stipulated in the Iraqi constitution, because the conclusion of those contracts by the Ministry of Oil with foreign companies violated the provisions of those laws and decisions in force explicitly, and domestic legal rules In concluding such contracts, it takes into account the constitutional and legal principles of ratification followed in the countries of the parties to these contracts and avoids contravening them.  

  

4. The laws and decisions that are to be repealed in the event that they remain in effect preserve the public ownership of what is in the ground of the natural resources (as stipulated in Law No. 97 of 1967 in Article Three, Paragraph Four) and prohibit any partnership contracts with foreign or local companies, which confirms the legality of The Federal Government to demand the region to cancel the partnership contracts it concluded with foreign companies.  

  

5. In addition to what was stipulated in the previous law of 2018, obliging the national oil company to be formed in accordance with this law to review licensing round contracts and amend them in a manner that preserves the interest of the Iraqi people.  

By observing the above laws and applying them, Iraq can start from a solid ground in correcting the fatal error that resulted from the licensing rounds and remediating the heavy damages and losses that the national economy incurs as a result of them, as the dues and costs of the work of foreign licensing rounds companies have reached nearly a third of Iraq's total oil revenues at some times and these increase The ratio doubles losses whenever oil prices fall, as witnessed by global markets in these circumstances.

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To merge electricity and oil .. «Ministry of Energy» Parliamentary proposal comes again

 
 Baghdad: Hoda Al-Azzawi
 
The Parliamentary Oil and Energy Committee has revived anew the proposal to merge the ministries of oil and electricity into one ministry, called "the Ministry of Energy", stressing that this would pressure government expenditures.
A member of the committee, Sadiq Al-Sulaiti, said to "Al-Sabah": "The merger of Iraqi ministries is often presented, and this is positive and important in order to compress expenditures, especially in light of the high operating expenses of ministries.  
He added, "The proposal to merge the ministries of oil and electricity into a ministry called Energy may succeed, but it needs to complete the National Oil Company Law, which was approved in 2017, but faced objections from the Federal Court."
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Representative Energy: The National Oil Company bill is ready for voting

 
 Baghdad: Hoda Al-Azzawi
 
 The head of the Parliamentary Energy and Oil Committee, Haybat Al-Halbousi, attributed the failure to vote on the draft law of the National Oil Company to the lack of a quorum in the session held on January 27, indicating that the law approved in 2017 was met with the objection of the Federal Court.
In an interview with Al-Sabah, Al-Halbousi added that his committee has completed the amendments to the paragraphs that the Federal Court objected to, expecting the vote to amend the National Company Law and establish that company at the earliest session.
He explained that the establishment of the National Oil Company, which will include most of the productive oil companies (Basra Oil Company, Dhi Qar Oil Company, North Oil Company, Maysan Oil Company, Central Oil Company, as well as the Drilling Company and parts of some general directorates within the Ministry) will reduce the burden on it by nearly 80 percent. The ministry’s work will be limited to setting oil policies according to what remains of it from the Oil and Gas Products Distribution Company and the SOMO Company.
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The information / Baghdad ..

The head of the Parliamentary Energy and Oil Committee, Haybat Al-Halbousi, attributed, on Saturday, the failure to vote on the draft law of the National Oil Company to the lack of a quorum in the session held on January 27, indicating that the law approved in 2017 was met with the objection of the Federal Court.

Al-Halbousi said in a statement reported by Al-Sabah newspaper, which was seen by the information, that his committee “completed the amendments to the paragraphs that the Federal Court objected to,” expecting “the vote to amend the National Company Law and establish that company in the nearest session.”

He explained that “the establishment of the National Oil Company, which will include most of the productive oil companies (Basra Oil Company, Dhi Qar Oil Company, North Oil Company, Maysan Oil Company, Central Oil Company, as well as the Drilling Company and parts of some general directorates within the Ministry) will reduce the burden on it by approximately 80%. percent".

And Al-Halbousi added, "The ministry's work will be limited to setting oil policies according to what remains of it from the Oil and Gas Products Distribution Company and the SOMO Company." End / 25

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9 hours ago, yota691 said:
  
22-696x355.jpg

 

The information / Baghdad ..

The head of the Parliamentary Energy and Oil Committee, Haybat Al-Halbousi, attributed, on Saturday, the failure to vote on the draft law of the National Oil Company to the lack of a quorum in the session held on January 27, indicating that the law approved in 2017 was met with the objection of the Federal Court.

Al-Halbousi said in a statement reported by Al-Sabah newspaper, which was seen by the information, that his committee “completed the amendments to the paragraphs that the Federal Court objected to,” expecting “the vote to amend the National Company Law and establish that company in the nearest session.”

He explained that “the establishment of the National Oil Company, which will include most of the productive oil companies (Basra Oil Company, Dhi Qar Oil Company, North Oil Company, Maysan Oil Company, Central Oil Company, as well as the Drilling Company and parts of some general directorates within the Ministry) will reduce the burden on it by approximately 80%. percent".

And Al-Halbousi added, "The ministry's work will be limited to setting oil policies according to what remains of it from the Oil and Gas Products Distribution Company and the SOMO Company." End / 25

Needed for budget? 

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Who knows at this point with this bunch because this was never included before.

This is the HCL though that all are looking for I think.

 

OH OH now you've done it screwbal and used the other four letter word _oon.  :lmao:

 

 

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2 hours ago, screwball said:

Nearest is that like soon?

 

2 hours ago, 3n1 said:

..... around the corner .

 

These guys surely know how to beat around the bush and tease us badly with indicating their sense of timing, not saying a damn thing hahaha jeeeeesh 😄

 

tenor.gif

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5 hours ago, horsesoldier said:

Wonder what the Iraqi concept/definition of " Ready to Vote on " is ??? 

It means they will discuss forming a committee that will be responsible for forming a committee that will discuss what they're going to vote on. Then they will discuss how they will vote on it. And then a vacation before .....

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3 hours ago, Longtimelurker said:

It means they will discuss forming a committee that will be responsible for forming a committee that will discuss what they're going to vote on. Then they will discuss how they will vote on it. And then a vacation before .....

 

Figured as much . . . I suppose my question was after all a rhetorical one, wasn't it :lol:

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