Oil Law, Oil Gas Related News Thread

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the completion of 85% of the liquidator Bazian in Sulaymaniyah

A new mechanism for processing refueling provinces according to population density

Baghdad-Tariq Al-Araji
Authority announced oil projects in the governorate of Sulaymaniyah on the completion of 85% of the construction work liquidator Bazian, which hit its cost to $ 25 million

Where will provide oil derivatives to maintain as an annual production capacity of 20 thousand barrels per day in the Oil Ministry a new mechanism for the processing of their share of provincial assessments from petroleum derivatives. An official source in the press statement : This is one of the liquidator Musavyin be set up in Sulaymaniyah and card liquidate an estimated 20 thousand barrels per day of crude oil, pointing out that the liquidator will be opening in late this year and not as scheduled in the month of July. He added that the delay in the completion of the refinery was for technical reasons and business still under way to establish 71 cisterns noting that this project is one of the most important oil projects in the Kurdistan region has been completed approximately 85% of the project, retaining only works of art such as the installation of some reservoirs and furnaces The source pointed out that the liquidator Bazian consists of two units can each produce ten thousands of barrels per day is expected to assume the Oil Ministry to secure crude oil pipeline from Kirkuk, explaining that the total cost of the liquidator $ 25 million central government has decided to set up four ranks in the Kurdistan region, two of them in Sulaymaniyah and the other two in the governorate of Erbil. On the other hand, the Oil Ministry a new mechanism in the processing of their share of provincial assessments of oil derivatives depend on the availability of weekly production, warehousing and processing is maintained by the proportion of the population to ensure justice in distribution.An official source in the ministry told "Assabah" : This action came because the proportion of the population between governorates degrees requires a new mechanism to ensure that the provinces with high population densities to their quotas established oil derivatives

Translated version of http://www.alsabaah.com/

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Please excuse if previously posted. Thank You

China invited to explore Iraqi oilBy Qin Jize (China Daily)
Updated: 2007-06-19 06:56

China is welcome to explore oil resources in Iraq as a new law is set to open its oilfields to international companies, the Iraqi ambassador to China said yesterday.

"We encourage Chinese enterprises to join the multinational competition for exploration of Iraqi oilfields," said Mohammad Sabir Ismail.

The oil and gas law faces a parliamentary vote next month after Iraqi Prime Minister Nouri al-Maliki endorsed it in February and the Cabinet approved it the following month.

If ratified, it will open the country's oil resources to foreign companies; and a frozen Sino-Iraqi oil contract could be reactivated, he said.

The 1997 deal to explore the Al-Ahdab field, worth $1.2 billion, was signed by China National Petroleum Corp and Baghdad when Saddam Hussein was in power.

Under the terms of the new law, all energy contracts signed by foreign producers during the Saddam era must be renegotiated.

"The revival of the deal is in the process and the two sides have established working groups to help the contract go forward," he said.

Ismail said Iraq's ambition is to exploit about 80 new oilfields in the coming years and produce 6.5 million barrels of oil per day by 2015.
It produced 2.6 million barrels a day before the 2003 US-led invasion. Production is about 2 million barrels a day at present.

The ambassador made the remarks on the eve of Iraqi President Jalal Talabani's week-long state visit to China starting tomorrow. Talabani is scheduled to meet President Hu Jintao, top legislator Wu Bangguo and Premier Wen Jiabao.

The two sides are expected to sign five agreements on foreign affairs, the training of governmental officials and other spheres.

China is ready to substantially forgive debt owed by Iraq and will provide additional reconstruction aid to the country, the ambassador said without specifying the amounts.

He noted that a Sino-Iraqi joint committee, to be co-chaired by the Iraqi Oil Ministry and the Chinese Ministry of Commerce, will resume discussions on such sectors as trade, foreign affairs, science and technology. The joint committee held its first meeting in 2001.

The upcoming visit by the Iraqi president will be the first by an Iraqi head since the two countries set up diplomatic ties in 1958. Accompanied by five Cabinet members, the president and his 40-strong delegation will visit Beijing, Xi'an and Nanjing.

Touching on bilateral ties, the ambassador said the friendship between China and Iraq dates back 2,000 years.

"There has never been any conflict between the two countries," he said.

On trade, he said "made-in-China products are common in Iraqi households, especially toys", adding that the economies of the two countries are highly complementary.

Ismail said he hopes two-way trade increases on the back of $1.1 billion last year.

Chinese analysts described Talabani's visit as a "landmark".

Yin Gang, a researcher with Chinese Academy of Social Sciences, said the visit shows that cooperation in various fields is returning to normal.

He said Talabani, who is interested in the works of Mao Zedong, has been to China before and has great affection for the country.

(China Daily 06/19/2007 page1)

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China invited to explore Iraqi oil

Last Updated(Beijing Time):2007-06-19 09:10
China is welcome to explore oil resources in Iraq as a new law is set to open its oilfields to international companies, the Iraqi ambassador to China said yesterday.
"We encourage Chinese enterprises to join the multinational competition for exploration of Iraqi oilfields," said Mohammad Sabir Ismail.
The oil and gas law faces a parliamentary vote next month after Iraqi Prime Minister Nouri al-Maliki endorsed it in February and the Cabinet approved it the following month.
If ratified, it will open the country's oil resources to foreign companies; and a frozen Sino-Iraqi oil contract could be reactivated, he said.
The 1997 deal to explore the Al-Ahdab field, worth $1.2 billion, was signed by China National Petroleum Corp and Baghdad when Saddam Hussein was in power.
Under the terms of the new law, all energy contracts signed by foreign producers during the Saddam era must be renegotiated.
"The revival of the deal is in the process and the two sides have established working groups to help the contract go forward," he said.
Ismail said Iraq's ambition is to exploit about 80 new oilfields in the coming years and produce 6.5 million barrels of oil per day by 2015.
It produced 2.6 million barrels a day before the 2003 US-led invasion. Production is about 2 million barrels a day at present.
The ambassador made the remarks on the eve of Iraqi President Jalal Talabani's week-long state visit to China starting tomorrow.
Talabani is scheduled to meet President Hu Jintao, top legislator Wu Bangguo and Premier Wen Jiabao.
The two sides are expected to sign five agreements on foreign affairs, the training of governmental officials and other spheres.
China is ready to substantially forgive debt owed by Iraq and will provide additional reconstruction aid to the country, the ambassador said without specifying the amounts.
He noted that a Sino-Iraqi joint committee, to be co-chaired by the Iraqi Oil Ministry and the Chinese Ministry of Commerce, will resume discussions on such sectors as trade, foreign affairs, science and technology. The joint committee held its first meeting in 2001.
The upcoming visit by the Iraqi president will be the first by an Iraqi head since the two countries set up diplomatic ties in 1958. Accompanied by five Cabinet members, the president and his 40-strong delegation will visit Beijing, Xi'an and Nanjing.
Touching on bilateral ties, the ambassador said the friendship between China and Iraq dates back 2,000 years.
"There has never been any conflict between the two countries," he said.
On trade, he said "made-in-China products are common in Iraqi households, especially toys", adding that the economies of the two countries are highly complementary.
Ismail said he hopes two-way trade increases on the back of $1.1 billion last year.
Chinese analysts described Talabani's visit as a "landmark". Yin Gang, a researcher with Chinese Academy of Social Sciences, said the visit shows that cooperation in various fields is returning to normal. He said Talabani, who is interested in the works of Mao Zedong, has been to China before and has great affection for the country.
Source:China Daily

China invited to explore Iraqi oil_Politics—China Economic Net

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Oil & Gas

Published: 19/06/2007 12:00 AM (UAE)
Petrochemical woes in the pipeline

Financial Times

The European petrochemicals industry is coming under increasing strain from two distinct quarters. First, rich oil-producing Middle East countries and China are investing heavily to capture a bigger share of the world market for these basic chemical products.
Second, European regulations, however well-intentioned, are placing a further heavy burden on the continent's big petrochemicals groups. This is making it even harder for them to compete with the new capacity, which will soon be flowing out of the developing world.
Worse, according to the French petrochemical industry association, the Middle East is targeting lower-cost products at Asian markets, especially China where most of the current demand lies.

Already the Mideast accounts for more than 10 per cent of world ethylene capacity - the key building block for plastics, chemical fibre and synthetic rubber.
The French industry body expects the Middle East to overtake Europe by 2015 when it will account for about 20 per cent of world ethylene capacity, against 17 per cent for Europe. Saudi Arabia alone is investing $80 billion in this sector over the next five years and its flagship company, Aramco, is about to build a giant new petrochemical complex in partnership with Dow Chemical of the US.
China remains the big export market with petrochemical demand expected to keep rising by around nine per cent a year between now and 2012 compared with a meagre 1.8 per for the US and Europe. However, the Chinese are also continuing to multiply their petrochemical investments.
As the Chinese raise their domestic capacity, Middle East producers are likely to turn to Europe to dispose of future surplus capacity. Russia too is expected to start investing heavily in petrochemicals in the next few years. But pressures are likely to be particularly acute for European manufacturers, who are now coming under far more stringent regulatory constraints than their competitors in emerging markets and oil-producing countries.
For example, they are having to deal with the European Union's so-called Reach directive on chemicals, the Kyoto protocol, and moves by individual countries to step up their environmental campaigns.
The debate over the economic damages or benefits of the Reach directive has been rumbling for years.
The current predicament of the European petrochemicals industry simply highlights once again the dilemma facing EU regulators and policy makers. How do you reconcile the pursuit of free and fair competition with regulations that inhibit the ability of European companies to compete in world markets?

Gulfnews: Petrochemical woes in the pipeline

[Lunar]

Iraqi Union Leader Urges Opposition To Oil Law

18.06.07

A proposed law regulating Iraq's oil industry would foster U.S. "hegemony" over the world's third largest oil reserves.

A proposed law regulating Iraq's oil industry would foster U.S. "hegemony" over the world's third largest oil reserves and Iraqi oil workers are determined to oppose it, an Iraqi union leader said on Monday.
Faleh Abood Umara, general secretary of the Southern Oil Company Union and the Iraqi Federation of Oil Workers' Unions, was speaking in New York as part of a U.S. tour to press for the withdrawal of foreign troops from Iraq.

Washington has been pressing Iraq's government to enact the law which the U.S. administration sees as a benchmark of progress toward national reconciliation more than four years after the invasion that ousted Saddam Hussein.

Umara said the proposed law amounted to "a raid by the international oil cartel" and he said unions representing thousands of workers in the industry would take strong measures to oppose it, including strikes if necessary.

International firms are waiting for an energy law to regulate how the oil wealth would be distributed before they start pumping money into the country, where the oil industry was crippled by a decade of sanctions even before the war.

"We think the proposed oil law doesn't serve the interests of the Iraqi people at all," Umara told a news conference in New York. "It emphasizes or confirms American hegemony over Iraqi oil fields."

He said the proposed law favored foreign oil companies at the expense of Iraqi workers and would not guarantee enough of a share of the revenues to the Iraqi state.

The law was endorsed by the cabinet in February and was due to be passed by the parliament in May, but political wrangling has continued. Oil Minister Hussain al-Shahristani said in late May he expected it to be passed in the coming two months.

Umara said a key demand that sparked a strike earlier this month by oil workers in southern Iraq was to delay adoption of the oil law and renegotiate its terms.

He described the strike as a "success" and said the government had agreed to form a committee including union leaders to resolve the problems with the law.

"If this law is legislated, I'm sure that our union and other unions in Iraq will take a very strong position against it," Umara said. "We will take strong measures, even including stopping the flow of oil."

"We are the ones who run the pumps to the ports and we also control the ports," he said.

The strike by around 600 pipeline workers earlier this month did not effect crude oil exports.

Basra, Iraq's second largest city and its gateway to the Gulf, has been the scene of a power struggle among Shi'ite factions seeking control of its oil wealth. Umara said the union was independent of any political faction.

With most oil reserves in Iraq in the Kurdish north and Shi'ite south, an equitable distribution of oil revenues is key to easing violence that has killed tens of thousands of Iraqis and more than 3,500 U.S. troops since the 2003 invasion.

After years of sanctions, neglect and sabotage, the oil industry needs billions of dollars in investment to boost output and increase revenues to rebuild the economy.

Oil production in Iraq is stuck at around 2 million barrels per day (bpd), well down on the nearly 3 million bpd hit in the final days of Saddam and even further from the 3.7 million bpd pumped in 1979, prior to the Iran-Iraq war.

Javno - World

[Lunar]

China welcome to explore Iraqi oil resources
Source: China Daily
06-19-2007 09:14

China is welcome to explore oil resources in Iraq as a new law is set to open its oilfields to international companies, the Iraqi ambassador to China said yesterday.

"We encourage Chinese enterprises to join the multinational competition for exploration of Iraqi oilfields," said Mohammad Sabir Ismail.

The oil and gas law faces a parliamentary vote next month after Iraqi Prime Minister Nouri al-Maliki endorsed it in February and the Cabinet approved it the following month.

If ratified, it will open the country's oil resources to foreign companies; and a frozen Sino-Iraqi oil contract could be reactivated, he said.

The 1997 deal to explore the Al-Ahdab field, worth $1.2 billion, was signed by China National Petroleum Corp and Baghdad when Saddam Hussein was in power.

Under the terms of the new law, all energy contracts signed by foreign producers during the Saddam era must be renegotiated.

"The revival of the deal is in the process and the two sides have established working groups to help the contract go forward," he said.

Ismail said Iraq's ambition is to exploit about 80 new oilfields in the coming years and produce 6.5 million barrels of oil per day by 2015.

It produced 2.6 million barrels a day before the 2003 US-led invasion. Production is about 2 million barrels a day at present.

The ambassador made the remarks on the eve of Iraqi President Jalal Talabani's week-long state visit to China starting tomorrow.

CCTV International

[Lunar]

Chinese oil companies welcome to explore for oil in Iraq - diplomat

Shanghai. June 19.

INTERFAX-CHINA - Iraq is opening its doors for Chinese oil companies to explore oil as the country's new oil law, which is to be voted on by the Iraqi parliament next month, is set to unlock the country's oil sector to international companies, according to the Iraqi ambassador to China, state media reported today.

Interfax China

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Complete 85% of the refinery Bazian in Sulaymaniyah

(Voice of Iraq) - 19-06-2007

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A new mechanism for processing refueling provinces according to population density
Baghdad-Tariq Al-Araji
Authority announced oil projects in the governorate of Sulaymaniyah on the completion of 85% of the construction work liquidator Bazian, which hit its cost to $ 25 million

Where will provide oil derivatives to maintain as an annual production capacity of 20 thousand barrels per day in the Oil Ministry a new mechanism for the processing of their share of provincial assessments from petroleum derivatives. An official source in the press statement : This is one of the liquidator Musavyin be set up in Sulaymaniyah and card liquidate an estimated 20 thousand barrels per day of crude oil, pointing out that the liquidator will be opening in late this year and not as scheduled in the month of July. He added that the delay in the completion of the refinery was for technical reasons and business still under way to establish 71 cisterns noting that this project is one of the most important oil projects in the Kurdistan region has been completed approximately 85% of the project, retaining only works of art such as the installation of some reservoirs and furnaces The source pointed out that the liquidator Bazian consists of two units can each produce ten thousands of barrels per day is expected to assume the Oil Ministry to secure crude oil pipeline from Kirkuk, explaining that the total cost of the liquidator $ 25 million central government has decided to set up four ranks in the Kurdistan region, two of them in Sulaymaniyah and the other two in the governorate of Erbil. On the other hand, the Oil Ministry a new mechanism in the processing of their share of provincial assessments of oil derivatives depend on the availability of weekly production, warehousing and processing is maintained by the proportion of the population to ensure justice in distribution. An official source in the ministry told "Assabah" : This action came because the proportion of the population between governorates degrees requires a new mechanism to ensure that the provinces with high population densities to their quotas established oil derivatives

Translated version of http://www.sotaliraq.com/

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Iraqi trade union calls from New York to oppose the new oil law to a friend
20 / 06 / 2007
سواSawa

.Abboud said Faleh leader Amara general association for the oil sector employees in Iraq, that the bill will strengthen the oil proposal described the American hegemony on the third largest oil reserves in the world, and workers in the oil industry intend to oppose it.

.The Secretary-General of the Association in a press conference held in New York yesterday, Monday, that the proposed law equivalent attempt by the world's oil producers to reduce prices, pointing out that the union representing thousands of workers in the industry will take strong action to oppose it, including the resort to strikes if necessary.
.Amara said that he believed that the proposed law does not serve the interests of the Iraqi people at all, but to devote confirms what he described American hegemony on the Iraqi oil fields.
.Emara pointed out that the proposed law gives preferential benefits to foreign oil companies at the expense of the Iraqi oil workers would not provide a sufficient share of the profits of the Iraqi State.
.The government had ratified the bill in the month of February last, but it has not been passed by the House so far because of political controversy arose around it.
لنفطHe stressed that the Union Amara South Oil and other associations will take a very firm stand against the law in the event of ratification, and threatened to take strong action up to stop pumping oil

marsadiraq.com

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Energy Commission discussed to find solutions satisfactory to all parties

Oil law before parliament soon

Baghdad Tarek Al-Araji
A source at the Energy Commission to the Council of Ministers that the next two days will see a meeting of Committee members to discuss oil and gas law and the law of financial resources, which are one of the most important laws concerning the Iraqi economy and the distribution of wealth and surplus financial resources between the central government and provinces.

It was the House had discussed a draft bill of oil and gas in a meeting held outside parliament in Dubai last April attended by a large number of deputies, Oil Minister Dr. Hussein Shahrastani addition to the oil experts and advisers.
The source told (morning) : The committee de****e the previous meetings and discuss the special oil and gas did not reach a settlement that satisfies all parties until now, there has no positive signals to approve the law which determines the petroleum policies of Iraq noting that the next two days will see a meeting of the Committee to reach a settlement that satisfies all parties in the absence of reaching the Commission will transmit the discussions to the Cabinet for a decision and arrive at a final version, which in turn would be forwarded to the House of Representatives for approval.
The source added that the Committee is nearing completion of the financial resources Only discussion of an article or articles relating to the allocation of financial resources surplus and how to deal between the State and Territory and distribution of surplus financial resources annually.
He explained that the government had a specific program for the approval of these laws is moving forward towards resolving the important regardless of any external calls.

Translated version of http://www.alsabaah.com/