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

The International Monetary Fund withdrew the request to raise the price of fuel in Iraq
وزير النفط العراقي حسين الشهرستاني
وزير النفط العراقي حسين الشهرستانيIraqi Oil Minister Hussein Shahrastani

07/03/2007 21:03 (توقيت غرينتش) 07 / 03 / 2007 21:03 (GMT)

أكد وزير النفط العراقي حسين الشهرستاني أن الوفد العراقي نجح في مباحثاته مع صندوق النقد الدولي في تخفيض النسبة المتبقية من ديونه بنسبة 20%.The Iraqi Oil Minister Hussein Shahrastani said that the Iraqi delegation had succeeded in his talks with the International Monetary Fund to reduce the remaining from its debts by 20%.
وقال الشهرستاني في بيان صادر عن الوزارة إن العراق استطاع خفض ديونه بنسبة 20 %، أي بواقع 28 مليار دولار خلال المفاوضات التي أجراها الوفد مع ممثلي الصندوق الدولي في دولة الإمارات العربية، والذي ضم أيضا كلا من وزير المالية باقر جبرصولاغ ومحافظ البنك المركزي الدكتور سنان الشبيبي.Shahrastani said in a statement issued by the ministry said that Iraq was able to reduce its debt by 20%, which is $ 28 billion during the negotiations conducted by the delegation with representatives of the International Fund in the United Arab Emirates, which also included both of the Minister of Finance Baker Ghebrsoulag and Central Bank Governor Sinan Al-Shabibi.
وأضاف الشهرستاني أن الوفد العراقي استطاع إقناع وفد صندوق النقد الدولي بسحب طلبه برفع أسعار المشتقات النفطية إلى مستويات الأسعار العالمية والإبقاء على مقترح رفع الأسعار بنسبة 15%، لأن الوضع المعيشي للشعب العراقي لا يسمح بفرض أكثر من هذه الزيادة.Shahrastani and added that the Iraqi delegation was able to convince the IMF delegation to withdraw his request to raise the prices of oil derivatives to price levels global and maintain the proposal to raise prices by 15%, because the living situation of the Iraqi people are not allowed to impose more of this increase.
وأوضح الشهرستاني أن صندوق النقد الدولي سيقدم في شهر أبريل- نيسان المقبل تقريره للدول الدائنة للعراق في نادي باريس يوضح فيه وفاء العراق بالتزاماته بشأن الإصلاحات الاقتصادية التي طلبها.Shahrastani and explained that the International Monetary Fund will be in the month of April-April next report to the creditor to Iraq in the Paris Club shows when Iraq's fulfillment of its obligations on the economic reforms that request.
وناشد الشهرستاني الدول العربية والأجنبية بان تحذو حذو الولايات المتحدة التي ألغت ديونها المترتبة على العراق بنسبة 100%، وتخفيض بريطانيا وأوربا نسبة ديونهما عليه بمقدار 80 في المئة.Shahrastani and appealed to Arab and foreign countries to emulate the United States, which abolished the debt of Iraq by 100%, and reduce Britain The proportion of debt in Europe by 80%.
وبيّن الشهرستاني أن الديون المترتبة على العراق والبالغة 140 مليار دولار تم تخفيضها الفترة الماضية على شكل نسب مقابل إصلاحات اقتصادية يلجأ إليها العراق، وفي مقدمتها رفع أسعار منتجاته النفطية.Shahrastani and that the debt incurred by Iraq and of 140 billion dollars had been reduced the last period in the form of rates for reforms economic resorted to Iraq, mainly to raise the prices of petroleum products.

http://64.233.179.104/translate_c?h...%3Fid%3D1182472

GREAT Posts this morning everyone. I really appreciate starting off my morning by reading all of the previous or current days news from Iraq. I appreciate all of you digging deep and putting in all of the time. Many thanks again.

Here's for a Reval SOON

From above............

Shahrastani and added that the Iraqi delegation was able to convince the IMF delegation to withdraw his request to raise the prices of oil derivatives to price levels global and maintain the proposal to raise prices by 15%, because the living situation of the Iraqi people are not allowed to impose more of this increase.

I THINK WE HAVE OUR HCL FOLKS! IS THIS IT!

A draft bill of oil and gas

(Voice of Iraq) - 08-03-2007
This issue was sent to a friend

The Council of Ministers
Committee on Oil and Energy

The Republic of Iraq

A draft bill of oil and gas


No. of 2007

February 15, 2007
Contents

Chapter / article
Title
Page

Reasons

Introduction

Chapter I : basic conditions
Article 1
Property sources of oil

Article 2
Scope of application

Article 3
End

Article 4
Definitions

Chapter II : Department sources oil

Article 5
The powers of the authorities

Article 6
The establishment of the Iraqi National Oil Company

Article 7
The reorganization of the Ministry of Oil

Article 8
Rehabilitation and development of oil and gas fields

Article 9
Licensing

Article 10
The mechanisms for negotiation and contracting

Article 11
Oil imports

Article 12
State participation

Chapter III : exploration and development activity fields

Article 13
The contract for exploration and production

Article 14
The obligations of the owners of exploration and production licenses

Article 15
Building efficiency and local content

Article 16
Standardization

Article 17
Conservation

Article 18
Free access to pipelines

Article 19
Data ownership

Article 20
Restrictions on production levels

Chapter IV : Transportation

Article 21
Main pipelines


Article 22
The rights and obligations of the pipeline


Chapter V : gas


Article 23
The exploitation of gas


Article 24
The gas attendant


Article 25
Burning gas


Article 26
Non-associated gas


Chapter VI : organizational matters


Article 27
Regulations oil operations


Article 28
Use and use of the land and the rights of passage


Article 29
Free access to the areas under the jurisdiction of maritime


Article 30
Inspection


Article 31
Environmental protection and safety


Article 32
Transfer of ownership and the end of instruction


Chapter VII : financial system


Article 33
Taxes


Article 34
Rents


Article 35
Bookkeeping


Chapter VIII : miscellaneous items


Article 36
Transparency

Rule 37
The application of anti-corruption laws

Article 38
Bring competitive year

Rule 39
Conflict resolution

Article 40
Existing contracts

Article 41
Amendments to the administrative border

Article 42
The relationship with the existing legislation
Article 43
Force


Supplement No.-1
The fields currently producing "assigned to the Iraqi National Oil Company


Supplement No.-2
The fields already discovered - developed given the Iraqi National Oil Company

Supplement No.-3
- Discovered fields developed outside of the Iraqi National Oil Company


Supplement No.-4
Exploratory areas

Reasons

Since the Republic of Iraq entered a new phase after the adoption of the Constitution in 2005.

Since that article 111 of the Constitution referred to states that oil and gas is the property of all the Iraqi people in all provincial and district.

Since the articles 110, 112, 114 and 115 and who read in the light of article 111 was generally known as the responsibilities and powers federal authorities and the regional authorities and provinces including with regard to the petroleum sector.

Since the Republic of Iraq Talented rich sources of oil and gas, and part "great discoverer of them already and ready for development while additional sources of oil yet to be discovered.

Since the Iraqi production capacity during the past decades, low compared to a rich source of oil and gas in Iraq.

As the Iraqi people finds itself at a crossroads to the future of a new and more prosperous, which requires funding for the rapid reconstruction projects reconstruction and modernization.

Since the proceeds of oil and gas are the most important pillars of the development of the country in general and the Iraqi economy, in particular on the foundations sustained and coordinated manner and wholesome scheme that takes into account the objectives of the Constitution, including the unity of Iraq, and the nature of natural sources of oil depletion, and the need to preserve the environment.

In order to enable the Ministry of Petroleum to focus on its role as president for policy development, planning and supervision at the same while many of the modernization needed to improve operational efficiency, it should be distributed actors oil currently undertaken by the Ministry of Oil and bodies between commercial entities and technical major oil companies, including Iraqi national and independent business, and giving a role for the regions and governorates productive.

Since the modernization and Alttwiraladhavi to the oil industry will boost the participation of international and local investors have skills and the administrative and technical drawing, in addition the sources of capital to actively assist and modernization of national experience and effectiveness in the oil sector.

Since the national private sector and linked directly or indirectly to the oil sector needs support and encouragement in order to be able to playing a prominent role in the development of this sector.

And as the positive interaction between regional authorities and federal regulations require legislation to appropriate institutional frameworks to ensure effective coordination.

Since the entry of actors-international and local-variety in the development of the oil sector requires clear legislation, according to background the conditions and frameworks ready to work to ensure effective partnership between the Iraqi authorities and the concerned parties as well as among themselves.

Since the development of the oil sector must be consistent and coordinated closely with the development community and the national economy has maintained the continuity of development the economy, the environment and reduce long-term dependence on imports of oil and gas.

Since the conditions for the organization of the oil sector of great importance to all of the Iraqi people as is the case for investors in this sector , there was a need for a fair, clear and transparent and effective guarantee for all participants in the petroleum sector effective participation cooperation, including the governmental bodies at the federal and regional levels and the oil-producing provinces in addition to the actors on the level local and international.

For that initiated this law.

Chapter I
Prerequisites

Article 1

Property sources of oil

The ownership of oil and gas is all the Iraqi people in all regions and provinces.

Article 2
Scope of application

ا. This Act applies to oil operations in all regions of the Republic of Iraq, including land and the land underneath it, as well as in the internal waters and territorial waters.

ب. Excluded from the scope of this law Oil Refining and Gas Processing and Astkhaddamathma industrial, as well as the storage and transportation and distribution of petroleum products.

Article 3
End

ا. This law establishes the management system of oil operations in the Republic of Iraq, taking into account existing international conventions between the Republic of Iraq and the States again with regard to the transfer of crude oil.

ب. This law aims to define the foundations of cooperation between the concerned ministries in the federal government, as well as the establishment of a coordination and consultation between the federal authorities and the regional authorities and the oil-producing provinces.

Article 4
Definitions

For the purposes of this Act shall be of the words and phrases where they received on / below the meanings assigned to it, but if the text meaning another :

1. "Discovery" - the first presence of oil are encountered in an ambush by drilling, which can be drawn to the surface through conventional oil industry.

2. "Commercial discovery" - discovery Iattabrlagradh commercial development by the owner of exploration and production licenses

3. "Territory" of the Kurdistan RESTAURANTS-shaped territory after Sidorhta law in the Republic of Iraq "in accordance with the provisions of the Constitution.

4. "Best practices in the petroleum industry" - all of these practices on oil operations, which are generally accepted in the international oil industry as good and safe and environment-friendly, economical and efficient in exploration and production of oil.

5. "Optimal methods for the management of the pipeline network" - all those practices relating to transit through pipelines - including the design and construction and preparation for the operation, maintenance, operation and termination of instruction pipeline - which are generally accepted in the international oil industry as good, The safe and environmentally friendly, economical and efficient in the transfer of oil.

6. Production "- extraction and disposal of oil.

7. "Oil" - all producers of raw natural gas or any hydrocarbon producer Auimkin production of crude oil or natural gas or oil Tar sand or rock.

8. "D" - activities carried out by the owner of a permit exploration and production based on field development plan or plan of development pipelines the key, which aims to produce and transport oil.

9. "Prospecting" - the search for oil by geological, geophysical and other means, including drilling exploratory wells, and valuation.

10. "Field" - an area containing the ambush or group strengths, combined or linked to the same geological structure or status Alsttgravi . The domain name refers to the surface area, but perhaps also indicates "at the same time to the surface, producing formations in the beneath the ground.

11. "Pipeline workers" - the pipeline including the valve stations and pumping stations, power stations, stamping and accompanying facilities, which compiles crude oil or gas from the field or group of fields to be delivered to a transfer point for the transfer of overtime.

12. "Pipeline" - engineering business consists of a pipeline elongated along with the accompanying material on the surface level including so valves and pumping stations and stamping equipment and the accompanying measurement and control, communications and remote control for the purposes of transporting crude oil or gas from the point of conversion at the point of processing at the point of delivery.

13. "The main pipeline" - the main pipeline including the valve stations and pumping stations, power stations, stamping and installations are built by the carrier for the transportation of crude oil or natural gas from a field or several fields, sources inside or outside Iraq.

14. "Plan to develop the field" - the schedule and cost estimate specified for the appraisal and development activities required to develop and produce oil from specific fields or a group of fields by the owner of the contract for exploration and production, which was prepared in accordance with this Act and the relevant requirements in the regulations operations and oil exploration and production contract, which covers an area of contract.

15. "Plan to develop the main pipeline" - plan and estimate the cost of all activities identified to be performed for the carrier to transport oil pipeline Abrann in Iraq and across the territory of neighboring countries, which have been prepared in accordance with this Act and the relevant conditions in the systems and processes oil contract exploration and production, which covers the contract and any relevant bilateral agreements.

16. "Plan cancellation instruction" - a plan for the closure of the operations of oil and re operational environment to the original situation, including the removal of all installations and disposal by.

17. "Iraqi person" - any citizen of Iraqi nationality, or any company or institution a list of legal personality and registered according to Iraqi legislation with a main center in Iraq and has more than 50% of the shares of capital owned by the Iraqi citizens or before institutions or companies, public or private Iraqi.

18. "Alien" - any person other than the Iraqi citizen, company or institution legal personality and the list of registered according to Iraqi legislation, and it less than 50% of the shares of capital owned by local citizens, companies or private or public institutions Iraqi.

19. "Petroleum operations" - all activities related to exploration, development, production, isolation and treatment, storage, transport, sale or delivery of oil at the point of delivery or the point of export or processing point agreed upon inside or outside Iraq, and include the processing of natural gas and the closure of all activities agreed.

20. "Gas" - all hydrocarbons which are in a state of gas in the atmospheric conditions of temperature and pressure, whether associated with liquid hydrocarbons or not, as well as remnants of gas remaining after extraction of liquid hydrocarbons from the reservoir.

21. "Algazalmassahab" - gas reservoir under the circumstances either the Mtaba "in the mass Haidrokerboni or in the dome over oil and gas senses of crude oil.

22. "Non-associated gas" - gas except gas attendant.

23. "Operator" - body appointed by the competent authority in consultation with the owner of the right of exploration and production for oil operations on behalf of the latter.

24. "Preservation productive" - any of the governorates of the Republic of Iraq in which there is production of oil and gas in a sustainable and commercial rates to quote the (150) one thousand barrels / day.

25. "Reservoir" - combine oil in a separate unit specific geological characteristics and limits of rock or synthetic Tabaghih and roofs contact between oil and water composition, or any joint overlap them, to affect oil production in any part of this gathering of the total oil pressure Rally in Oil whole.

26. The "contract" - the region where the owner permits authorized exploration and production, including exploration, development and production of oil.

27. "The development and production" - part of the contract, which was identified after a commercial discovery under paragraphs and conditions of the contract for exploration and production.

28. "Crude oil" - all hydrocarbons and regardless of the specific weight, which are produced and made available bed situation at the liquid temperature The air pressure, including the asphalt, and tar and liquid Alhidrokerboinh known Balmkotrat or condensers, which are obtained from the gas within the the contracting.

29. "Carrier" - designated by the Council of Ministers for the receipt of crude oil or natural gas from the owner of the right of exploration and production at the point the conversion and delivery of crude oil or natural gas for export to the owner of the right of exploration and production at the point of delivery.

30. "A point of measurement of production" - site (sites) in which the measurement of sizes and the quality of crude oil or gas, which will be converted to a point conversion.

31. "Transfer point" lip entrance to the pipelines from the point of measurement of external production, where the carrier's receipt of crude oil or natural gas the owner of the right of exploration and production.

32. "Point of delivery" - points (points), loading facility where crude oil up to the entrance of the reservoir, lip-ship, which received crude oil or those other point within 13-17 or Iraq, as agreed under the contract for exploration and production. In the case of gas, it is the entrance to the receiving facilities receiving gas.

33. "Point of supply" - site, which is converting crude oil or gas, which is the main pipeline or pipeline to the field a different type of transport or treatment or employment.

34. "Ministry" - and the Ministry of Oil of the Republic of Iraq, companies and other institutions identified and the High body.

35. "Competent body" - the Oil Ministry or the Iraqi National Oil Company, or regional body.

36. " Regional body "- the competent ministry in the government of the province.

37. The Federal Council of the oil and gas-Council, which formed the Council of Ministers under Article 5 /

V of the Act for the exercise of the powers entrusted to it in accordance with "the law.

38. Office-Bureau of independent advisers to be appointed by the Federal Council and oil Algazovka "to the provisions of this Act.


Chapter II
Management sources of oil

Article 5

The powers of the authorities

ا. The House

First. " Initiate the House of Representatives all federal laws related to the oil and gas sector.
II. " The House of Representatives ratified all the conventions of international oil stomach and relevant communication operations in the oil and gas sector and concluded by the Republic of Iraq with other nations.

ب. The Council of Ministers

First. " The Cabinet recommendation to the House of Representatives with respect to the proposed draft legislation for Iraq to develop sources of oil and gas.

II. " The Council of Ministers is the authority's jurisdiction to Agheraralsiash federal oil and supervision of the application of that policy. It will also oversee the total petroleum operations including the adoption of federal policy for all Alamuralte organization governed by the Act including exploration and production, transportation and marketing The proposal legislative tools in the oil sector and to ratify the necessary regulations of the things listed above from time to time.

III. " In order to carry out the tasks mentioned above, the Council of Ministers to ensure the adoption of the Federal oil and gas and the ministry means appropriate and effective for consultation and coordination with regional authorities and provinces producing oil and gas in accordance with the "what is stipulated in the constitution.

ت. The Federal Oil and Gas

First. " In order to facilitate the functions of the Council of Ministers in connection with the adoption of petroleum policy implications and plans, which are being prepared by ministry in coordination and consultation with the regions and producing governorates, as well as to develop the necessary instructions to conclude the contracts for exploration and production under Article No. 9 this law establishes a body, the Council of Ministers (the Federal Oil and Gas). the prime minister or his nominee and comprising membership in both "from :

1), and oil ministers of finance and planning and development cooperation of the federal government.

2) Governor of the Central Bank of Iraq.

3) a representative from each territory degree Minister.

4) representative from each province productive irregularly in the province.

5) Presidents heads of the most important oil-related institutions, among them the National Oil Company and the Iraqi Oil Marketing Company.

6) experts deal with matters relating to oil and gas, finance and economy of no more than three are appointed for a maximum period of five years from the decision the Council of Ministers.

Taking account of the formation of the Federal Council of oil and gas representation of the basic components of the Iraqi people.

II. " The Federal Council of oil and gas responsible for the development of policies and plans of federal oil exploration and development fields and the main pipeline plans inside Iraq, and has the right to approve any substantial modification of such plans.

You'd think they'd have put the new rate in. LOL.

Originally Posted by Adster

You'd think they'd have put the new rate in. LOL.

Is this it do you think???

Good find, CP! Thanks.

Would you mind giving a link?

Originally Posted by CharmedPiper

Is this it do you think???

Sure is. And the Law is there, nice and clear.........no mention of rate but we can take positives from the above.......

Here is link and it just came out a few minutes ago.

http://64.233.179.104/translate_c?hl...p%3Fid%3D47767

Originally Posted by CharmedPiper

Here is link and it just came out a few minutes ago.

http://64.233.179.104/translate_c?hl...p%3Fid%3D47767

Thanks, I appreciate it.