djgabrielie Posted July 14, 2011 Report Share Posted July 14, 2011 (Alias HCL ... ) Baghdad (NINA) – The Energy Committee, headed by Deputy Prime Miister, Hussein al-Shehristani, approved the amendment endorsed on the draft Oil and Gas Law prepared by the Ministry of Oil. A statement issued on Wednesday, July 13, by the Deputy Prime Minister’s Office said, “The meeting was attended by ministers of Oil, Electricity, Science and Technology, Water Resources and Provinces’ Affairs. It added that, “The Amendments have been referred to the Council of Ministers.” It is noteworthy that on the current July 2, Parliament’s Oil and Energy Committee demanded Parliament to issue instructions to delay concluding any new contracts related to the production of crude oil and natural gas, and to speed up enacting Oil and Gas Law to be a legal cover to any future contracts, whether by the Federal Government or the regions and provinces. It called on Parliament to vote on the necessity to comply by the Constitution’s articles with regards to contracts related to the production of oil and natural gas. It is worth mentioning that the Oil and Gas Law was among the important law that previous Parliament failed to enact it and had it sent to current Parliament. http://www.ninanews.com/english/News_Details.asp?ar95_VQ=FHFMLG 4 Link to comment Share on other sites More sharing options...
bamagirl Posted July 14, 2011 Report Share Posted July 14, 2011 Is this the HCL law? Link to comment Share on other sites More sharing options...
jcfrag Posted July 14, 2011 Report Share Posted July 14, 2011 HOT DIGGITY!!!!!!! 1 Link to comment Share on other sites More sharing options...
djgabrielie Posted July 14, 2011 Author Report Share Posted July 14, 2011 Is this the HCL law? ummmm yeah... lol 1 Link to comment Share on other sites More sharing options...
easyrider Posted July 14, 2011 Report Share Posted July 14, 2011 whoaaaaaaaaa if this is true this is HUGE news!!!!!!!!!!!!!!!!!!!!!!!! 2 1 Link to comment Share on other sites More sharing options...
cgbrown Posted July 14, 2011 Report Share Posted July 14, 2011 Does it have to be read three times and voted on each time.??? If so, is this the first read or what?? Link to comment Share on other sites More sharing options...
PhxSunsFan Posted July 14, 2011 Report Share Posted July 14, 2011 what dose this mean Link to comment Share on other sites More sharing options...
TPSprayduster Posted July 14, 2011 Report Share Posted July 14, 2011 waiting to exhale, i am sure some member will want his hands greased to push this through. Link to comment Share on other sites More sharing options...
easyrider Posted July 14, 2011 Report Share Posted July 14, 2011 (edited) Does it have to be read three times and voted on each time.??? If so, is this the first read or what?? not quite sure knowing them i wouldnt be surprised but it does seem like things are moving along rather quickly. what dose this mean this would be the hydro carbon law AKA HCL AKA oil law. This is major also Adam talked about this as well tonight in chat. I think this is a major factor for the RV. Edited July 14, 2011 by easyrider 2 1 Link to comment Share on other sites More sharing options...
bamagirl Posted July 14, 2011 Report Share Posted July 14, 2011 Thanks for clarifying that Easy! I was wondering if that was what Adam was talking about, now I am excited!!! Link to comment Share on other sites More sharing options...
carges Posted July 14, 2011 Report Share Posted July 14, 2011 Link to comment Share on other sites More sharing options...
fox Posted July 14, 2011 Report Share Posted July 14, 2011 Looking good! Thanks for the news! Link to comment Share on other sites More sharing options...
golden2 Posted July 14, 2011 Report Share Posted July 14, 2011 Oh yes!! Let it be, let it be, let it be! ! Link to comment Share on other sites More sharing options...
blonde_minx Posted July 14, 2011 Report Share Posted July 14, 2011 Fantastic news thanks for the great post Link to comment Share on other sites More sharing options...
MAW33326 Posted July 14, 2011 Report Share Posted July 14, 2011 Here we go, I hope we are all prepared for this Link to comment Share on other sites More sharing options...
littlefeet Posted July 14, 2011 Report Share Posted July 14, 2011 Link to comment Share on other sites More sharing options...
gregp Posted July 14, 2011 Report Share Posted July 14, 2011 This is crazy good!! Link to comment Share on other sites More sharing options...
Biker Posted July 14, 2011 Report Share Posted July 14, 2011 Great news , now alls we have to do is wait on the fools to get there heads out of the sand box and pass it . Another 2 months maybe Link to comment Share on other sites More sharing options...
Ateam Posted July 14, 2011 Report Share Posted July 14, 2011 lol it will take forever to pass this !!! I hope not but we all know it will. Link to comment Share on other sites More sharing options...
Silverdinar Posted July 14, 2011 Report Share Posted July 14, 2011 WOW>>>>> this is an awesome step in the right direction... Adam said they would need to pass the HCL and then things would get moving. Yeppee-ky-yi-yea..... Rancheros get them doggies moving... Link to comment Share on other sites More sharing options...
LA2009 Posted July 14, 2011 Report Share Posted July 14, 2011 http://www.aknews.com/en/aknews/2/251809/ Parliamentary commission submits amended oil and gas bill to ministerial board 14/07/2011 14:06 Baghdad, July 14 (AKnews) – An ammended draft oil and gas bill has been sent to the council of ministers for voting, the government's Energy Commission, said on Thursday. Faisal Abdullah, the Deputy Prime Minister for Energy Affair’s media director, told AKnews that the bill will go to parliament for ratification once the cabinet has passed its own amendments. "The Ministers Council will in turn make the appropriate modifications on the draft bill that aims to support the raising of the level of oil production,” he said. The new law is said to provide an appropriate environment for energy investment in Iraq, including oil, gas and will also encourage the local workers to compete for work according to world contexts in the extraction of oil from fields under the management of the national oil company. The Iraqi National Oil Company (INOC) was formed according to Act No. 11 of 1964 and Act no. 97 issued on the same year to regulate the investment of the Iraqi National Oil Company of the areas allocated to them. The center of the Iraqi National Oil Company was integrated with the center of the Oil Ministry according to the decision of the disbanded Revolutionary Command Council number 267 on April 26 - 1987, and this decision was considered as a cancelation for the company. A number of experts concerned in oil studies believe that Iraq lacks clear political policy which was a reason in delaying the development of its oil wealth. The Ministry of Oil announced in September last year that the Iraq’s proven reserves of oil reached 33.463 billion barrels in the northern and southern oil fields, particularly in the fields of Qurna and Zubair. Iraq signed oil contracts with international energy companies at the beginning of this year after two rounds of licenses to develop ten oil fields were tendered. Iraq has the fourth-largest oil reserves in the world and crude oil exports constitute about 95% of Iraq's federal budget. Reported by Jaafar al-Wannan RN/KA/AKnews Link to comment Share on other sites More sharing options...
fox Posted July 14, 2011 Report Share Posted July 14, 2011 It's a happy day! Link to comment Share on other sites More sharing options...
jlldrs Posted July 14, 2011 Report Share Posted July 14, 2011 what dose this mean From what I understand when the HCL law gets passed, each Iraqi citizen will get a portion of the revenue from oil sales. That is why when the article came out last week about the census that was also big news. The census and the HCL law are tied together so Iraq can proplerly compensate each citizen. If I am incorrect someone feel free to jump in. Link to comment Share on other sites More sharing options...
therentman Posted July 14, 2011 Report Share Posted July 14, 2011 Thanks for both posts. Good News! GO RV!!! Link to comment Share on other sites More sharing options...
djgabrielie Posted July 14, 2011 Author Report Share Posted July 14, 2011 lol it will take forever to pass this !!! I hope not but we all know it will. I don't agree, I think it will go just like Adams chat yesterday. HCL & CH7 simultaneously. 1 Link to comment Share on other sites More sharing options...
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