Iraq to sign final Shell gas deal Sunday

[unirod]

Does anyone have a running total on how many billions in deals Iraq has signed this year?

[grand pubah]

Carrello, humble apologies.

No intent to offend. Just trying to be funny.

My political persuasion is not something however that I am ashamed of. I am a capitalist and an independent.

Neither Socialism or Communism are an effective or prosperous form of government as we now see in many of the Euro nations now going broke. My personal opinion is it takes the rewards and motivation out of the individual's hands and reduces him to a dependent of the state.

I am a big contributor to charities, help organizations, and even spent my thanksgiving handing out food at a homeless shelter. I have compassion for the poor and less fortunate but zero compassion for those who believe something is owed to them by others who worked hard for their own.

Obviously your political views from your post are diametrically opposed to my own and I can respect that and what you bring to the forum.

I am not trying to start a political dialogue here or challenge your views.

Again apologies if my post was offensive to you.

GP

[thylocene]

I think that the people doing the deal have been given a rock-solid assurity and when HCL will be enacted. Very, very soon!

[fastarnie]

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.

I'm just as hopefull as you are. IMO though just because they sign a contract doesn't mean it's effective on that day. I guess what I'm saying is the HCL may be done by the effective date, but I'll be glad to drink to an RV.

[Crow]

I read a long time ago...that all contracts was void until the hcl was done!!!

[nemesis760]

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

The contract will allow them to begin construction of all necessary buildings and foundations as well as hire staff, send their trainers and execs, and prepare. They will not start the profits for some time.... unless they are just taking over the drilling locations to begin with, which even then there will be a lull in power and integration with Shell. But the profits would continue in that scenario.

[JWJW11]

The contract will allow them to begin construction of all necessary buildings and foundations as well as hire staff, send their trainers and execs, and prepare. They will not start the profits for some time.... unless they are just taking over the drilling locations to begin with, which even then there will be a lull in power and integration with Shell. But the profits would continue in that scenario.

Difference is this not an oil contract....its a contract for capturing gas that has been waisted at over a billion dollars a year for several years now. Yes they will have to set up there project but it appears they have been working on this deal for years now....so the timing and contract with HCL in full swing......very interesting

[RodandStaff]

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

Kinda makes ya think that maybe they have been getting things done behind closed doors, working deals, signing important agreements, getting out of certain restrictions! (wink, wink)... Hmmmmm.... I wonder what else they've got up their sleeve???

Come on boyz... gitter dun!!!

GO RV Already Baby!!!

[Hawkeye64]

Lord help me, because I just started this venture in July of this year and am getting sinical already, instead of excited, every time i see a day posted by someone, but hopefully, that changes soon, or I will have to get off these forums.....LOL Hats off to you long timers!!!!! LOL

I'm not a long timer but long enough. The ups and downs drive you nuts at first and then after awhile you stop taking dates seriously. Or at least I did. Oh...and it's best to stay out of rumors and ignore anything that relates to Okie and his compadres.

[Sanssouci]

I think that the people doing the deal have been given a rock-solid assurity and when HCL will be enacted. Very, very soon!

That would be the Rothschilds.

[quadkidd1]

Hats off to Grand P.4 playin nice . I liked your reply to Carrello shows class.

Quad

Go RV !

[Nelg]

"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."

This little lawsuit may slow things down a little. Whenever there is money involved, everyone wants their hands in the til. They "wanted to have a larger participation in decisions on the agreement" is code for "we want a share of this money too!!!" If they don't get it, there will be additional lawsuits and meetings until they get their cut.

[betty1970]

BRAVO Grand Pubah, Capitalism is great in my book too, and yes, agreed with the comment above, it can be quite easy to be polite in response if one tries.

I agree to disagree quite often, but am never unkind.

[MovieMaker]

Grand Pub... Nice guy What good is any of this investment money if you are a scrooge, right? You are awsome. Bless your family and ALL you plan to do.

[trooper]

Here's the video of the article...

[Carrello]

Carrello, humble apologies.

No intent to offend. Just trying to be funny.

My political persuasion is not something however that I am ashamed of. I am a capitalist and an independent.

Neither Socialism or Communism are an effective or prosperous form of government as we now see in many of the Euro nations now going broke. My personal opinion is it takes the rewards and motivation out of the individual's hands and reduces him to a dependent of the state.

I am a big contributor to charities, help organizations, and even spent my thanksgiving handing out food at a homeless shelter. I have compassion for the poor and less fortunate but zero compassion for those who believe something is owed to them by others who worked hard for their own.

Obviously your political views from your post are diametrically opposed to my own and I can respect that and what you bring to the forum.

I am not trying to start a political dialogue here or challenge your views.

Again apologies if my post was offensive to you.

GP

Mr. Pubah:

I do not hold interests that any of those that you have stated you believe yourself. I am a capitalist and an independent.

I have seen what certain entities are trying to do to present our President as a socialist and the OWS movement as socialist, and they are wrong, i.e., one group reported one last week had invested one million dollars to put out information on OWS that is incorrect.

What I oppose are the lies that are put for political and corporate gain, and you, nor I, can control it, but we can fight it. We are all Americans, not political parties.

Thank you for your comments, and we are more closely aligned than we both probably realize.

A new year is upon us, and I am hopeful that it will bring a prosperous new year to all.

Take care.

Carrello

[Sparta]

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

Posted 3 hours ago on finance.yahoo.com (Reuters story) http://finance.yahoo.com/news/iraq-clinches-17-bln-flared-160955935.html