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Iraq to sign final Shell gas deal Sunday

k98nights

By k98nights,
in Iraq & Dinar Related News

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k98nights Newbie

k98nights

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Iraq to sign final Shell gas deal Sunday

BASRA, Iraq | Fri Nov 25, 2011 8:12am EST

Nov 25 (Reuters) - Iraq on Sunday will sign the final $17-billion deal with Royal Dutch Shell and Mitsubishi to capture flared gas despite a legal challenge from local officials, head of state-run South Gas Company said on Friday.

The 25-year venture is expected to help Iraq make use of more than 700 million cubic feet per day of gas that is now being burned and help generate much-needed electric power.

"There were some legal issues but these have been resolved," Director General Ali Khudhier told Reuters on the sidelines of an oil and gas conference in Basra.

"It is the final contract, there were no changes," he said.

The contract had been scheduled to be signed on Nov. 24 and will go ahead on Sunday even though some members of the Basra Provincial Council say they plan to present a lawsuit because the council was not included in talks on the agreement.

"We are getting ready to present a legal case against the oil ministry," said provincial council member Farid Khalid.

Khudhier said the council members were not opposing the Shell deal itself, but wanted to have a larger participation in decisions on the agreement.

The Shell deal is one of the largest agreements signed with a foreign energy company by Iraq as the OPEC member works to rebuild its oil industry after years of sanctions and war following the 2003 invasion that ousted Saddam Hussein.

http://www.reuters.com/article/2011/11/25/iraq-shell-idUSL5E7MP1LP20111125

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FlintNPebbles Newbie

FlintNPebbles

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Correct me if I'm wrong, but doesn't the HCL need to be approved by parliament before this can happen?

That's what I thought too, but someone else pointed out that they can make deals and sign contracts. The HCL is for the distribution of profits from the sale of the oil and gas....at least that is what I understand. So really, they probably do need to get the HCL approved before the contracts can be implemented?? I am so confused....I hears something every day that completely negates what I heard the day before :(

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Carrello Rising Star

Carrello

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JW,

I will meet you in the fourth pew....I will be on my knees praying.

This is the second article I have seen this morning that is saying laws need to be recognized that have not been regarding different oil contracts. All of a sudden there are roadblocks that should have been taken care of prior. I think I'll get on my knees right now.

Edited by Carrello
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JWJW11 Newbie

JWJW11

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JW,

I will meet you in the fourth pew....I will be on my knees praying.

This is the second article I have seen this morning that is saying laws need to be recognized that have not been regarding different oil contracts. All of a sudden there are roadblocks that should have been taken care of prior. I think I'll get on my knees right now.

Im right there with you Carrello....it would be awesome!

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JWJW11 Newbie

JWJW11

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Sunday is your best guess? Really. This Sunday? Cool cause my guess is Dec, and I don't like that one. :)

Lol honestly we all dont have a clue thats the fun part of this thing! All I know is it has gotten really exciting over the last couple of weeks.....its simply amazing how its all playin out!

I mean sure all the dumbass gurus will tell you its happening every weekend for the last 8 yrs but if you really step back and take a look at the big picture its looking pretty darn good! My expectations are before the end of the year.....if not by then....I will puttem away and forget about it for awhile.....

But SUNDAY.....definitely looks like a great possibility! But then again anything is possible.....GO RVVVV!!!

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Carrello Rising Star

Carrello

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Sunday is your best guess? Really. This Sunday? Cool cause my guess is Dec, and I don't like that one. :)

I speak for myself when I say Sunday is a positive affirmation, a prayer, whatever you want to call it. Hopeful would best characterize Sunday, I think. My thoughts were emotional and not based in fact.

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Carrello Rising Star

Carrello

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Carrelo,

I met up with a scalper and I have reserved the first pew....

You in ???

Quad B)

GO RV !!! :twothumbs:

Ooooooooo.............was the scalper the Devil?

I am in! No price is too high. No floor is too low. I'll bring the knee pads.

If we are in the first pew, who is at the alter? I have a few ideas on sacrificial lambs.

Thanks! See you Sunday. B)

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grand pubah Newbie

grand pubah

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Ooooooooo.............was the scalper the Devil?

I am in! No price is too high. No floor is too low. I'll bring the knee pads.

If we are in the first pew, who is at the alter? I have a few ideas on sacrificial lambs.

Thanks! See you Sunday. B)

I am suggesting the Obamas as sacrificial lambs!

And maybe the occupy wallstreet crowd. Lots of lambs there not doing anything but wanting a handout... it is an endless supply.

Better do it before the cold weather hits though. I am expecting the crowds to thin out pretty quick then. wink.gif

It would definitely help with the crime rate...

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brbrlocke Newbie

brbrlocke

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I agree. Sunday is looking good. Adam also mentioned something happening Sunday, possibly. So we wait and see.

I think Adam meant it would more than likely be a Sunday when we got the announcement. Not necessarily this Sunday, but I wouldn't pout or cry if it is....Santa is watching us for crying out loud....:)

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Carrello Rising Star

Carrello

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I am suggesting the Obamas as sacrificial lambs!

And maybe the occupy wallstreet crowd. Lots of lambs there not doing anything but wanting a handout... it is an endless supply.

Better do it before the cold weather hits though. I am expecting the crowds to thin out pretty quick then. wink.gif

It would definitely help with the crime rate...

Mr. Pubah:

Thank you. Your comments paint the picture of exactly which persuasion you lean.

I am sorry that you chose to take a conversation that was in the spirit of celebration and excitement, comraderie and finality, and turned it into a political dump. You took it to the gutter.

Thanks again, but I think we will continue on the positive road, no matter our persuasion.

And please don't comment back to me, because I do not want to respond. I could go off on your for pages, and I will.

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