HCL Passesd ‘The draft of the oil and gas law has been approved and referred to parliament,

[Bobbydee]

One more step closer. Let it be finally passed by Parliment. Thank you Lord for this blessing. God Bless Semper Fi

[jstagrl]

Let's do this already!!

[waitingondinar]

Iraq's cabinet approves delayed draft oil law

Cabinet approves much-delayed draft oil law

* Law pending parliamentary approval

* Iraq has some of the world's biggest oil reserves

BAGHDAD, Aug 28 (Reuters) - Iraq's cabinet has approved a long-awaited draft oil law and sent it to parliament for final passage, a measure seen as key for foreign investors seeking more solid legal guarantees.

The new hydrocarbons law has been in the making for years but has faced opposition over who controls the world's fourth largest oil reserves, mainly from semi-autonomous Kurdistan in the north of Iraq.

"The draft of the oil and gas law has been approved and referred to parliament," a cabinet statement said on Sunday.

Iraq's parliament last month warned the government it would force through a new draft of the law if the cabinet continued to hold up the original legislation, regarded by investors to be a crucial mark of stability in the OPEC country.

"Any other previous drafts should be considered void and should be withdrawn. This draft is the only one presented to parliament," the statement said.

Investors have been waiting for the law's approval to assure a more stable legal framework for exploration. The law is also seen as pivotal to reconciling Iraq's factions -- especially Iraqi Arabs and Kurds -- as the country rebuilds after years of war.

Even without the law, Iraq is already developing oil-fields, signing billions of dollars in contracts with international companies under legislation dating back to before 2003 when a U.S. invasion ousted Saddam Hussein.

The draft oil law was approved by cabinet in 2007 but faced opposition in parliament and was sent back to the government for amendments. In June, Iraq made some changes to the law, which were being reviewed by the cabinet's energy committee. (Reporting by Aseel Kami and Ahmed Rasheed; Editing by Serena Chaudhry and David Holmes)

[easyrider]

yep, hopng parliament approves this and fast.

[DinarThug]

From the Ministry of Redundancy Ministry: This Article was Already Posted Already !

It's a Great Article Though and Probably bears Repeating !

[aliciadogz]

This is such really good news,Thanks for post.

[DinarDana]

We are ALMOST there on the HCL law. folks. Dosen't it seem so darn slow when we are soooooooo close to the finish line.

[imgesing]

Iraq's cabinet approves delayed draft oil law

Cabinet approves much-delayed draft oil law

* Law pending parliamentary approval

* Iraq has some of the world's biggest oil reserves

BAGHDAD, Aug 28 (Reuters) - Iraq's cabinet has approved a long-awaited draft oil law and sent it to parliament for final passage, a measure seen as key for foreign investors seeking more solid legal guarantees.

The new hydrocarbons law has been in the making for years but has faced opposition over who controls the world's fourth largest oil reserves, mainly from semi-autonomous Kurdistan in the north of Iraq.

"The draft of the oil and gas law has been approved and referred to parliament," a cabinet statement said on Sunday.

Iraq's parliament last month warned the government it would force through a new draft of the law if the cabinet continued to hold up the original legislation, regarded by investors to be a crucial mark of stability in the OPEC country.

"Any other previous drafts should be considered void and should be withdrawn. This draft is the only one presented to parliament," the statement said.

Investors have been waiting for the law's approval to assure a more stable legal framework for exploration. The law is also seen as pivotal to reconciling Iraq's factions -- especially Iraqi Arabs and Kurds -- as the country rebuilds after years of war.

Even without the law, Iraq is already developing oil-fields, signing billions of dollars in contracts with international companies under legislation dating back to before 2003 when a U.S. invasion ousted Saddam Hussein.

The draft oil law was approved by cabinet in 2007 but faced opposition in parliament and was sent back to the government for amendments. In June, Iraq made some changes to the law, which were being reviewed by the cabinet's energy committee. (Reporting by Aseel Kami and Ahmed Rasheed; Editing by Serena Chaudhry and David Holmes)

Excellent now the final pass and we should be that much closer!!!!

I am actually surprised they dont just RV when this is official.

PEACE and let the RV go through.

[elmstreet61]

WOOHOO!!!!!!!

another step, ticked off and another step closer.

[k98nights]

The government to ratify the oil and gas law وتبعثه to parliament

2011-08-29 11:16:49

[-] The text [+]

Baghdad (IBA). The Iraqi government announced the ratification of the draft oil and gas law and to allocate it to the parliament for approval after it ended to make the necessary adjustments to the law governing the only for the oil sector in Iraq, where will vote by the parliament after a weekend of the Blessed Lesser Bairam.

Government spokesman Ali Al-Dabbagh said in a statement received by the independent press (IBA) a copy of it, that the Cabinet approved the draft of a new oil and gas, saying any previous drafts of the law cancellation should be withdrawn.

He stressed that it would deal only with the current draft presented to parliament, adding that the House of Representatives shall be any dealing with it deems appropriate fundamentalists.

The presentation was the oil and gas law to the parliament a few days ago had raised wide objections of the rule of law as it had not been submitted to the government, while the oil and gas committee said parliament that it has in its three projects were submitted to it including one had been submitted to the government earlier.

The parliament witnessed severe disagreements at the last session broke down the approval of the law, which led to his deportation to the current session, in addition to a package of other controversial laws such as the law on political parties. (END)

http://www.ipairaq.com/index.php?name=inner&t=economy&id=42605

[BUSHMAN]

thank you Jesus! let"s go chapter 7 how long will it take?

[Amber Williams]

sweet news... 1 up, 1 down....