Thread: Iraqi/Dinar News before 3-12-2007 7:45PM CentralTimeZone

[QUOTE=CharmedPiper;172931]I found this on a blog.

Thursday, March 01, 2007

Final Official Copy of the Iraqi Oil and Gas Law

This final official Arabic copy of the Iraqi hydrocarbon Law (oil and gas law) includes the 4 appendices and the Council of Ministers' resolution. - I have read somewhere that this is actually what the Parliament will be working on - The law itself is already agreed on, but the appendices will be the ones that will take time.

[update: here is the final and official Iraqi oil and Gas Law translated]

I had a very hard time getting the copy from my contact in the "green zone" to anyone in Baghdad who would then be able to scan it. Everyone who lives inside the greenzone never leaves it, and everyone who lives outside it never goes close to it! I spent hours trying to find a way to transport this copy from the greenzone to Baghdad to no avail. But I finally found a brave soul who was willing to help out.

The Bush administration can add the "Baghdad Wall" surrounding the greenzone to its list of "separation barriers" that it supports.

Council of Ministers's resulotion
This is the translation of the latest resolution of the Council of Ministers approving the oil law and submitting it to the Council of Representatives. You can notice that this creates an unconstitutional loophole in article 5, setting May 31st as a deadline for enacting the oil law even of the council of representatives did not approve it. What is this guy talking about? The May 31st deadline is BS!!


Council of Ministers

Oil and Energy Committee

Feb 26th, 2007 11:00 AM


[…] the Iraqi government [the council of ministers] submits this law, regulating oil operations, to the Council of Representatives [The Parliament].

[…]

[...], the following arrangements shall be adopted to finalize the regulating of oil and gas operations in Iraq:

1.This oil and gas law and its four appendices shall be submitted to the Council of Representatives, after agreeing on the types of model contracts and on the general terms and conditions, together with the Financial Revenues Management Law. All parties shall finalize this task before March 15th 2007. - We know they are working on the contracts models from news articles. That means that the law did NOT go yet to the Parliament.

2.Finalizing the laws of the Iraqi National Oil Company [INOC] and the Ministry of Oil in accordance to this laws articles and regulations. In addition, the Oil and Gas law in Kurdistan region Must be in harmony with the articles and regulations of the federal oil and gas law, ad in accordance to the constitution. - So there is an additional law for INOC that needs to be finalized.

3. All oil operations and exploration and production rights’ granting shall be put on hold for areas included in article 140 that might have administrative changes for its boarders, except the oil operations related to the INOC that may continue its work in the fields discovered and already developed in accordance to the constitution.

4. All parties must abstain from signing new contracts agreements related to exploration and production activates in Iraq until this law is fully enacted.

5. The Federal Government, in coordination with the regions governments, shall finalize the requirements needed to implement this law and activate the entities mentioned in the law in a time period not exceeding the end of May 2007. In case this deadline was not met, the Iraqi Prime Minister shall meet with the president of Kurdistan Region to implement the law within one month and reach out to a solution based on one of the following options:

a.In case article 5 was not finalized by the deadline of May 31st 2007, the two parties shall have the right to sign Exploration and Production Contracts in accordance to the constitution, this law, and the general principles of contracts’ models (the first option).

b. Extend the time period mention above.[/QUOTE]

SO basically they don't have a time table. I think that believing that HCL will be done in March is not feasible.
The deadline of May 31st does not have any effect because immediately, option b says : "Extend the time period mentioned above " - the May 31st deadline. What a joke!

I think our only hope is Candy Rice to go back there and put a fire - AGAIN - under their as**es.

And if FIL & HCL are to be enacted at the same time, why in the world all these articles about the investment opportunities in Iraq?

These people are unbelievable...Do I read these appendices wrong?

There's a load of shiite out there. Don't believe everything you read in every article.

The Ministry of Planning and Development Cooperation projects that the government will improve the economic situation and create job opportunities for the unemployed.
.She said in a statement issued today, the rate of unemployment, which has significant indicator, according to the latest economic surveys paid for the body strategy reconstruction of Iraq to focus on during the next stage of economic projects in support of the Iraqi economy and provide employment opportunities in the private and public sectors.


ل.The statement pointed out that the economic situation will improve in the coming months in the case of the arrival of loans earmarked for Iraq from the World Bank and the IMF and there will be urgent investment projects to provide employment opportunities.
Radio Sawa - وزارة التخطيط: مشاريع لتØ*سين الوضع الاقتصادي وتوÙ�ير Ù�رص للعاطلين

Originally Posted by Adster

There's a load of shiite out there. Don't believe everything you read in every article.

I usually don't. But that's the law appendices, not an article.

Adster, you know a lot of stuff. Do you think that actually they will move faster and make it happen in March?

I know you have them down usually pretty good.

The CBI are buying back the dinar in exchange for dollars. The banks must have too much surplus of dinars and the CBI want them off the streets which aside the private banks they can instruct to do so. When the time is right and lower denoms are released, the CBI will then sell them to the banks and be paid in dollars in return for them. These dollars can then be used if necessary to back exchanges made. Ingenious really.

We know 5 denominations were printed and aren't in circulation to date..........I believe and have heard the lower denoms are in the CBI vaults waiting to be released

The FIL is Enacted.

Translated version of http://www.uruklink.net/iqlaw/4031/4031.html

Number 28 4031 142 7 argument is e-January 17, 2006


(لفتح صفحات هذا العدد يرجى تنصيب برنامج Acrobat Reader )(To open the pages of this number, please installation of the project proposals under Acrobat)


قوانين Laws



* قانون استيراد وبيع المنتجات النفطية رقم(9) لسنة 2006 ص1The import and sale of petroleum products (No. 9) of 2006, Al-Ahram



* قانون الاستثمار رقم (13) لسنة 2006 ص1Investment Law No. (13) of 2006, Al-Ahram

According to the CBI websites key financial indicators in Dec. 06 there was 21.2 trillion M2 and then on Jan. 18th this is reduced to 13.7 trillion M2. There has been no updates to the M2 since although other things continue to update weekly. Go to CBI site then click on statistics, then click on key financial indicators and key financial. It will bring up a excel worksheet and almost to the bottom you will find it.

Eastman

Originally Posted by Jola

I usually don't. But that's the law appendices, not an article.

Adster, you know a lot of stuff. Do you think that actually they will move faster and make it happen in March?

I know you have them down usually pretty good.

Ooooooooooooooooooo, putting me on the spot. What I would say is IF there is no real movement with the implementation of FIL, HCL, signed IC, and other high level meetings coming up and going on including the Oil Summit next month then I'd be looking to offload half of my 'wad'.

Never believed in the slow and grow concept. Achieves nothing major at all at a time they need in the words of an article yesterday an 'Economic Surge'.

Yes, I hear and get told things. Some true, some crap. Some giving out reval dates, rates and other details. Tend not to get too excited really. I used to a year or so ago but now the facts speak for themselves.

جردية الوقائع العراقية

What a heck is this one???

An Arab translator needed. They uploaded it while I was posting about the FIL...Geez, they are updating it as we speak.

P.S> Got it: The rules of procedure of the House of Representatives

Originally Posted by Jola

The FIL is Enacted.

Translated version of http://www.uruklink.net/iqlaw/4031/4031.html

Number 28 4031 142 7 argument is e-January 17, 2006


(لفتح صفحات هذا العدد يرجى تنصيب برنامج Acrobat Reader )(To open the pages of this number, please installation of the project proposals under Acrobat)


قوانين Laws



* قانون استيراد وبيع المنتجات النفطية رقم(9) لسنة 2006 ص1The import and sale of petroleum products (No. 9) of 2006, Al-Ahram



* قانون الاستثمار رقم (13) لسنة 2006 ص1Investment Law No. (13) of 2006, Al-Ahram

Bump. Adster, offload 1/4 of what you have!!! I am here to buy it!