Nujaifi promises vote on oil law next week

[TonyDownTheShore]

* Nujaifi promises vote on oil law next week

December 13th, 2011 07:34 am · Posted in NEWS (Iraq & World Currency)

13/12/2011 10:08 BAGHDAD, Dec. 13 (AKnews) – Speaker of the Council of Representatives Osama al-Nujaifi promised that nine important laws will be passed next week and that the oil and gas law might be one of them.

Nujaifi blamed political disputes for why the oil and gas law has not been discussed and passed in the Council yet.

“We are waiting for the Council to adopt one of the three drafts that we received,” Nujaifi said.

The federal government in Baghdad and the Kurdistan Regional Government in Erbil disagree over the oil and gas legislation in the country. The Kurds accused the federal government of passing the draft law without taking the Kurdish opinion into consideration. On the other hand, Baghdad criticized Erbil for signing contracts with international oil companies without the consent of the federal Oil Ministry.

According to Article 112 of the Iraqi Constitution, “the federal government, with the producing governorates and regional governments, shall undertake the management of oil and gas.” However, article 112 is placed right between the articles109 to 110 which define the fields of exclusive federal authority, and article 114 which defines the fields of shared authority. Thus, article 112, with its vague wording, is quoted by both sides, federal and regional authorities, to strengthen their individual position.

Under the Erbil Agreement, by which the political leaders agreed to form a national-partnership government in 2010, an agreement should be reached over a new oil law. A draft, that was passed this year, sparked tensions between the federal and the Kurdish government.

The Council’s Oil Commission has been studying three drafts for a new oil law. According to committee members, the committee agreed to 90% of the drafts, except to those articles that deals with the distribution of the oil wealth.

Iraq has has the world’s fourth-largest oil reserves with an estimated amount of 137 billion barrels of crude oil. In August, exports were at an average of 2.19 million barrels a day, with Iraq’s oil industry being at or near capacity.

According to previous announcements by the Iraqi government dating back to 2010, the oil production is supposed to rise up to 12 million bopd in 2016.

Currently, Iraq finances 95% of its annual budget through oil revenues.

Can't copy and paste link, sorry

[Stryker365]

Thanks Tony, I'm sure another article like this will be found today with a link that can be copied.

If they would just get this done and an agreement with Kuwait we could be home free.

[Lorre]

It's all going to come together at once... I think it's planned that way.... IMO...

[Papster]

thanks for the post tony...........stryker you said the key word........if.............if they can get it done............lets hope.............getting closer...........GO DINAR

[Blessed4ever]

But "next week" really means "THIS WEEK"..... right?

[redsand]

But "next week" really means "THIS WEEK"..... right?

Yep! Next = this.

To presume, that would also mean THIS THURSDAY.

[steveflex7]

Thanks Tony, this is great news. Thanks redsand, I always enjoy hearing your take on things.

[uncirculd]

This right here (the big fight) is what we need on the Eribl/Arbil to finish the differences. By which they made that payment to the Kurds for oil deals, I believe they either have or about to fix it when Maliki goes back to Iraq.

"However, article 112 is placed right between the articles109 to 110 which define the fields of exclusive federal authority, and article 114 which defines the fields of shared authority. Thus, article 112, with its vague wording, is quoted by both sides, federal and regional authorities, to strengthen their individual position."

[redsand]

This right here (the big fight) is what we need on the Eribl/Arbil to finish the differences. By which they made that payment to the Kurds for oil deals, I believe they either have or about to fix it when Maliki goes back to Iraq.

"However, article 112 is placed right between the articles109 to 110 which define the fields of exclusive federal authority, and article 114 which defines the fields of shared authority. Thus, article 112, with its vague wording, is quoted by both sides, federal and regional authorities, to strengthen their individual position."

That "vague wording" will lead to tension down the road...hopefully far enough in the future where it doesn't effect us.

All that recent money that has been thrown the Kurds way is a way to relieve the tension. Its almost like they want them to be happy long enough to get that deal through. If they get the oil and gas law to pass, Iraq will care less about the Kurds. Butter them up!

[idplzr]

But "next week" really means "THIS WEEK"..... right?

That has been my understanding:)

[Canuklady]

Yep! Next = this.

To presume, that would also mean THIS THURSDAY.

Agreed!

[Carrello]

That "vague wording" will lead to tension down the road...hopefully far enough in the future where it doesn't effect us.

All that recent money that has been thrown the Kurds way is a way to relieve the tension. Its almost like they want them to be happy long enough to get that deal through. If they get the oil and gas law to pass, Iraq will care less about the Kurds. Butter them up!

I would think that $427 million US dollars would go a long, long way.

[Sara Johnson]

Here is the link: http://www.aknews.com/en/aknews/4/277938/

[TonyDownTheShore]

Here is the link: http://www.aknews.com/en/aknews/4/277938/

Thanks for the link Sara.

[Stryker365]

That "vague wording" will lead to tension down the road...hopefully far enough in the future where it doesn't effect us.

All that recent money that has been thrown the Kurds way is a way to relieve the tension. Its almost like they want them to be happy long enough to get that deal through. If they get the oil and gas law to pass, Iraq will care less about the Kurds. Butter them up!

Well said REDsssssssand, is that realy you in that avator?????

When I saw that 475 million article yesterday I thought the same thing!!!!

[Dinarabot]

Funny how they talk, talk , talk.....no walk, walk, walk......same ole crap since 2009....

[betty1970]

Thank you Tony and also thank you for all the other articles you have brought to Dinar Vets over the year, I am very grateful.

Happy Christmas and here is to a Prosperous New Year.

[TonyDownTheShore]

Thank you Tony and also thank you for all the other articles you have brought to Dinar Vets over the year, I am very grateful.

Happy Christmas and here is to a Prosperous New Year.

Your welcome Betty1970, and Merry Christmas and a Happy New Year to you and your family.

[rvb4jan1]

Thanks for the update Tony!

[Abarvets]

Thanks Tony!!!

[TimS]

If the RV depends on the HCL getting passed....we can be waiting a very long time

[fastarnie]

This is the news I really like to see. Now would like to it done thursday, and didn't I see an article of a U.N. meeting on that same day. I could be wrong cause I read so much stuff. Hard to type now I think the adrenaline is pumpin.

[TonyDownTheShore]

If the RV depends on the HCL getting passed....we can be waiting a very long time

Not really, There's an article that Nujaifi promised to pass the law next week, and another one that says they'll pass the 2007 law they agreed upon if they can't agree on a new law by Dec. 31.

This is the news I really like to see. Now would like to it done thursday, and didn't I see an article of a U.N. meeting on that same day. I could be wrong cause I read so much stuff. Hard to type now I think the adrenaline is pumpin.

It's possible theyll have it done on thursday, jmo.

[steveflex7]

Not really, There's an article that Nujaifi promised to pass the law next week, and another one that says they'll pass the 2007 law they agreed upon if they can't agree on a new law by Dec. 31.

It's possible theyll have it done on thursday, jmo.

Hey Tony, do you think we could see the HCL pass on Thursday? I think there's a good chance, and I'm excited.

[Stryker365]

If the RV depends on the HCL getting passed....we can be waiting a very long time

Why don't you do yourself a favor and wait somewhere else!!

Edited December 13, 2011 by Stryker365