Oil Law, Oil Gas Related News Thread

[Hkp]

search laws to be approved soon

Abdul Mahdi of Ashraf Qazi : we expect the United Nations more support

Baghdad-Sabah.
The Vice-President Adel Abdul Mahdi on the importance of the role of the United Nations in supporting Iraq politically and economically. He called Dr. Abdul Mahdi during his meeting yesterday with the Special Representative of the Secretary-General of the Organization in Iraq, Ashraf Qazi,

United Nations to make further efforts to support Iraq. The two sides discussed the latest developments in the political process and security situation in the country in addition to the discussion of laws and legislation, the task Iraq intends approval in the next few days, as oil law and the law of accountability, justice and article 140 of the Constitution of Kirkuk, as well as preparations for elections nationwide. For his part, Ashraf Qazi, condemned the terrorist operation that targeted military goat Imams (their operations), He pointed out that those who committed this criminal act wanted to fuel sectarian sedition between the sons of the Iraqi people and to fail the efforts of the government to achieve national reconciliation. The judge emphasized that the United Nations remains committed to supporting the government and people of Iraq.

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

[Hkp]

Oil invites Indian and Iranian companies to build new lines in the country

Access million liters of petrol from the refinery to Baghdad

Baghdad morning
The company said the general distribution of oil derivatives and the arrival of more than 1 million liters of gasoline during the past two days from the Baiji refinery to the city of Baghdad.

The ministry invited a number of Indian and Iranian companies to submit their offers to build a number of refineries in the Middle Euphrates, south of the country after the reluctance of other global companies, it while the Oil Ministry attributed the reasons for the high prices of liquid gas in the past few days in some parts of Baghdad to conduct personality by hawkers.
An official source in the Oil Products Distribution Company told (morning) : The workers in the Oil Products Distribution Company managed to reach the Baiji refinery de****e the difficult security conditions and succeeded in converting more than a million liters of gasoline from refineries to the city of Baghdad to meet part of the shortfall in the product.

He added : The terrorist elements exposed to tank convoy, which was accompanied by the Director of the company, Eng Kareem Hattab, killing two and wounding a number of other portable tanker drivers for this product. On the other hand, the Oil Ministry invited a number of Indian and Iranian companies specialized in building the back burner to submit offers to build refineries in the region Middle Euphrates and southern provinces after the reluctance of specialized international companies on the pretext of the security situation witnessed by the country and linked projects in other States. An official source at the Oil Ministry told (morning) : He added : Kalamirkih that international companies and has been negotiating with the British to contribute to the construction of these refineries but they sung about owing to the worsening security situation and the failure to meet the methods of contracts between Iraq and the demands of these companies, where demand high amounts in addition to the fact that most of these companies have contracts to carry out large projects in a number of countries world. The source expected to witness the next few days offers Indian companies and the Iranian consistent interest of the Iraqi people and to accelerate the construction of these vital projects.

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

[Hkp]

Iraq oil law deadline approaches
20 June 2007 (AME Info FZ LLC)

The fragility of Iraq's draft oil law is increasingly apparent. After being presented with the bill on February 26 observers had expected legislators in Baghdad to reach agreement by the end of May. But parliament remains split on the issue.
And as pressure on Iraq's Prime Minister Nouri Al Maliki's government to get its draft oil law passed intensifies, opposition is growing with critics calling for the law to be put on hold.
Critics line up
Grassroots opposition to the proposed law was revealed by calls from the 26,000 member Iraq Federation of Oil Unions to be included in discussions on the outline legislation. This followed a strike over bonuses in mid June that temporarily halted shipments of oil products from Basra, the country's main export outlet.
While the draft law allows provincial authorities to negotiate development contracts, subject to review by a federal oil and gas committee, almost all Iraqi oilfields for the moment are under the control of the Iraq National Oil Company, a body which itself is due to be re-incorporated.
Dhia Al Bakaa, a former head of the Iraqi state oil marketing organisation, has criticised the draft law as inappropriate before the future of the country's national oil company is decided and the security situation is brought under control.
Exactly how the INOC and the Oil Ministry are to be restructured remains to be seen. The law seems intended to transform Iraq's oil industry from a nationalised model closed to foreign companies except for limited, albeit very lucrative, marketing contracts, into a commercial industry, all but privatised, that is fully open to all international oil companies.
The Iraq National Oil Company would have exclusive control of just 17 of Iraq's 80 known oil fields, leaving two thirds of yet to be exploited areas open potentially to foreign control.
Iraq has some 27 fields in production and another 25 that are close to producing all under INOC control as well as 26 fields already identified but not yet exploited which could be offered to investors in dozens of new blocks.
Details of how oil revenues from new production will be disbursed have also to be decided. The draft calls for a distribution to provinces based on the size of the population in each of them.
Delays add to pressure
The impasse is causing impatience in the US since Washington is committed to a broad ranging review of its operations in Iraq by September.
American officials, including Vice President Cheney and Defence Secretary Robert Gates and others, during visits to Baghdad have stressed how important it is for Iraq to show progress not just in taking more responsibility for security matters but also in agreeing on vital constitutional and economic questions. The draft oil law is seen as a benchmark test.
The strike threat may have been a catalyst that will cause a new look at the draft law. If the dispute had not been resolved with a promise of an inquiry into grievances, much of Iraq's 1.6 million barrels per day production could have disappeared from export markets with a significant impact on global oil prices.

Iraq oil law deadline approaches | Iraq Updates

[Lunar]

The viewpoint-economic conditions are not conducive to the adoption of a new law on oil in Iraq

Source : House life-20/06/2007

Can Observers of the ongoing debate on the law of Iraqi oil between Iraqi officials and experts on various positions, but optimistic in the future of Iraq, de****e the gruesome conditions suffered by now. In view of the substantive and positive attitudes of most of them, and ensure that declared contribute to the strengthening of Iraq's unity and national reconciliation serves.

It is hard to understand is the research into the details of this law is adopted, in light of the circumstances and factors of pressure and unfavorable, is unlikely to arrive at the best model for law be in the interest of Iraq and the foundation of a successful oil industry in the future support the process of economic and social development.

The bad security conditions that cause the death and displacement of many citizens, continues to attract scientists, and destroy the social fabric and the disruption of its human resources that are dearest from any other source, but the only resource growth. It must be a priority is to find political solutions to stop the violence and provide security and stability, to allow Iraqis Safa thinking in other cases. To the extent that any development of oil resources in the light of the current situation is very difficult, there is no harm in waiting.

The discussion of this law in light of the foreign military presence probably makes it vulnerable to challenge in the future before the judicial authorities, whether local or international, because of adoption under military occupation and countries have clear interests affected formula law to be regarded arbitrarily and nature. It is natural that the pressure these states in the directions that serve the interests of the political and economic strategy.


It seems that these countries are not neutral and certainly constitute a President in the ongoing deliberations on the law, especially as they push toward the adoption of a certain during this stage, has not entirely consistent with their national interests of Iraq, as seen by many inside and outside Iraq.

The group, which raises questions about the timing of putting this law, is that it comes before an important benefit of the Iraqi Kurdistan region of the referendum on the final status of this territory, in particular, representatives of the Territory formed the backbone of the team, which seeks to strengthen the powers of the regions and territories in the debate over the distribution of exploration, development and production of oil resources between regional authorities and the central authority in Baghdad.

And because what will be adopted in this regard will be evacuated at all regions of Iraq, in light of the facts which constitute self Special Territory's position that the Kurdish elements stand out from other regions of the above reasons, the law would probably be agreed to share oil resources between the central government and regional authorities.

However, any involvement of the regional authorities in the development of oil resources will ensure the entry of international oil companies in the development and production of oil as through contracts «partnership in the production», given that the oil emerging regional bodies lack the technical and financial capacities needed for self-development fields allocated to them.

This de****e the fact that foreign direct investment in the Iraqi oil sector is not feasible for Iraq in the event there is this building in the Iraqi national companies, especially that Iraq's oil extraction easy Among the less expensive crude oils in the world.

To have the technical capacity and energy required funding, it is imperative that firms have sufficient size to the size of the reserve and production capacity. This can only available in regional companies because the volume of Iraqi oil reserves does not justify the presence of such a large number of oil companies with the required capabilities in each of them.

As for some technical services that may be needed in some areas of Iraq, such as the rehabilitation of production processes and fields affected by the military operations, could be contracted with foreign companies specialized in services contracts do not require waiver of any part of the oil resources or undermine national sovereignty them.

To keep the oil sector completely under central authority does not necessarily mean monopoly National Oil Company oil and gas sector, especially the medium and long term, or loss of transparency, what worried him most Iraqi experts on the right, and push them to support the trend towards decentralization in the organization of the oil sector.

It can enhance transparency through the operation of the National Oil Company on a commercial basis or fully privatized within the appropriate regulatory controls. As can be established more than national companies capable technically and financially in order to ensure competition among them and enhance productivity and transparency. In light of the size of the reserve certainly now, perhaps to accommodate Iraqi oil industry three to four national companies to compete in all areas.

On the other hand, is the oil and gas proposed by the federal law, the appropriate framework for a partnership between the central and regional authorities in the organization of the oil and gas sector and management. It provides for regional authorities, in the event given appropriate powers, the possibility of pursuing the central administration of the oil sector and control.

Also it must be clarified that the allocation of the company (companies) National Oil does not necessarily entail sacrifice the state's sovereignty over its oil, or abandon the adoption of a national strategy for the development of these resources and their development. Since the government can, if the allocation of national oil companies in the future, to retain shares went enable it to maintain its sovereignty in this important sector facilities and institutions, what can be guaranteed under contracts for the production.

As for the exploitation of oil revenues, it agreed to a fair distribution for all Iraqi territories by population size is good in principle, as reflected in the keenness to strengthen the unity of the Iraqi people. Perhaps the practical translation of this principle in the methodology for economic and social development which focuses on reducing disparities between regions of Iraq, not in the index of income, but also in human development indicators, as defined by the Human Development Report of the United Nations. By employing all of central revenues, not oil revenues, but in achieving this important goal.

It may also used in oil revenues during the initial stages of the reconstruction process, in the rehabilitation of basic infrastructure and public services and development, as called for by a number of experts and spe******ts Iraqis. However, the bulk of these revenues must be used in the diversification of the productive base of the Iraqi economy and prepare for the post-oil era. In this regard, Iraq will require many foreign direct investment, particularly in high-tech areas, the development of industries with high added value. But all that is in a theory or wishful thinking unless there is security and stability prevail throughout Iraq.

[wciappetta]

The viewpoint-economic conditions are not conducive to the adoption of a new law on oil in Iraq

Source : House life-20/06/2007

Can Observers of the ongoing debate on the law of Iraqi oil between Iraqi officials and experts on various positions, but optimistic in the future of Iraq, de****e the gruesome conditions suffered by now. In view of the substantive and positive attitudes of most of them, and ensure that declared contribute to the strengthening of Iraq's unity and national reconciliation serves.

It is hard to understand is the research into the details of this law is adopted, in light of the circumstances and factors of pressure and unfavorable, is unlikely to arrive at the best model for law be in the interest of Iraq and the foundation of a successful oil industry in the future support the process of economic and social development.

The bad security conditions that cause the death and displacement of many citizens, continues to attract scientists, and destroy the social fabric and the disruption of its human resources that are dearest from any other source, but the only resource growth. It must be a priority is to find political solutions to stop the violence and provide security and stability, to allow Iraqis Safa thinking in other cases. To the extent that any development of oil resources in the light of the current situation is very difficult, there is no harm in waiting.

The discussion of this law in light of the foreign military presence probably makes it vulnerable to challenge in the future before the judicial authorities, whether local or international, because of adoption under military occupation and countries have clear interests affected formula law to be regarded arbitrarily and nature. It is natural that the pressure these states in the directions that serve the interests of the political and economic strategy.


It seems that these countries are not neutral and certainly constitute a President in the ongoing deliberations on the law, especially as they push toward the adoption of a certain during this stage, has not entirely consistent with their national interests of Iraq, as seen by many inside and outside Iraq.

The group, which raises questions about the timing of putting this law, is that it comes before an important benefit of the Iraqi Kurdistan region of the referendum on the final status of this territory, in particular, representatives of the Territory formed the backbone of the team, which seeks to strengthen the powers of the regions and territories in the debate over the distribution of exploration, development and production of oil resources between regional authorities and the central authority in Baghdad.

And because what will be adopted in this regard will be evacuated at all regions of Iraq, in light of the facts which constitute self Special Territory's position that the Kurdish elements stand out from other regions of the above reasons, the law would probably be agreed to share oil resources between the central government and regional authorities.

However, any involvement of the regional authorities in the development of oil resources will ensure the entry of international oil companies in the development and production of oil as through contracts «partnership in the production», given that the oil emerging regional bodies lack the technical and financial capacities needed for self-development fields allocated to them.

This de****e the fact that foreign direct investment in the Iraqi oil sector is not feasible for Iraq in the event there is this building in the Iraqi national companies, especially that Iraq's oil extraction easy Among the less expensive crude oils in the world.

To have the technical capacity and energy required funding, it is imperative that firms have sufficient size to the size of the reserve and production capacity. This can only available in regional companies because the volume of Iraqi oil reserves does not justify the presence of such a large number of oil companies with the required capabilities in each of them.

As for some technical services that may be needed in some areas of Iraq, such as the rehabilitation of production processes and fields affected by the military operations, could be contracted with foreign companies specialized in services contracts do not require waiver of any part of the oil resources or undermine national sovereignty them.

To keep the oil sector completely under central authority does not necessarily mean monopoly National Oil Company oil and gas sector, especially the medium and long term, or loss of transparency, what worried him most Iraqi experts on the right, and push them to support the trend towards decentralization in the organization of the oil sector.

It can enhance transparency through the operation of the National Oil Company on a commercial basis or fully privatized within the appropriate regulatory controls. As can be established more than national companies capable technically and financially in order to ensure competition among them and enhance productivity and transparency. In light of the size of the reserve certainly now, perhaps to accommodate Iraqi oil industry three to four national companies to compete in all areas.

On the other hand, is the oil and gas proposed by the federal law, the appropriate framework for a partnership between the central and regional authorities in the organization of the oil and gas sector and management. It provides for regional authorities, in the event given appropriate powers, the possibility of pursuing the central administration of the oil sector and control.

Also it must be clarified that the allocation of the company (companies) National Oil does not necessarily entail sacrifice the state's sovereignty over its oil, or abandon the adoption of a national strategy for the development of these resources and their development. Since the government can, if the allocation of national oil companies in the future, to retain shares went enable it to maintain its sovereignty in this important sector facilities and institutions, what can be guaranteed under contracts for the production.

As for the exploitation of oil revenues, it agreed to a fair distribution for all Iraqi territories by population size is good in principle, as reflected in the keenness to strengthen the unity of the Iraqi people. Perhaps the practical translation of this principle in the methodology for economic and social development which focuses on reducing disparities between regions of Iraq, not in the index of income, but also in human development indicators, as defined by the Human Development Report of the United Nations. By employing all of central revenues, not oil revenues, but in achieving this important goal.

It may also used in oil revenues during the initial stages of the reconstruction process, in the rehabilitation of basic infrastructure and public services and development, as called for by a number of experts and spe******ts Iraqis. However, the bulk of these revenues must be used in the diversification of the productive base of the Iraqi economy and prepare for the post-oil era. In this regard, Iraq will require many foreign direct investment, particularly in high-tech areas, the development of industries with high added value. But all that is in a theory or wishful thinking unless there is security and stability prevail throughout Iraq.

Herein is the foundation for doing nothing. It's almost like saying, "I'm ready to collapse because of the heat of the day but i can't get relief in the pool because there may be a lightning storm coming someday.


They speak of bad security conditions yet I read they are kicking tail with the new military operation "Arrowhead Ripper" [sounds ominious]

This guy also complains about the law not serving the Iraqi national interest. what I thought putting people to work was the idea?

But gosh the banks are making money......

Sorry there is no Walgreens and this isn't perfect world. Institute the laws and adjust as needed.

Good thing this guy isn't in charge but I'm sure he reflects some element in the government. Hmm maybe the Unions perhaps?

I'm glad it's an opinion piece and a bad one at that.

[shotgunsusie]

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/

looks like after tonite it goes to the cabinet and then to the parliament for voting. could be voted on next week if they continue to make progress.

[Lunar]

Situation Not Ripe for a New Oil Law in Iraq

Khalil Zahr Al-Hayat - 20/06/07//

Any one who is following up on the ongoing debate among Iraqi oil officials and experts of different walks over the country's oil law cannot help but feel upbeat on the future of the country de****e the current bloody situation because of the spirit of objectivity and affirmativeness that dominates the attitudes of a majority of those involved in drafting the oil law and their unmistakable keenness to uphold the unity of Iraq and its higher national interests.

What is hard to grasp, however, is the fact that efforts to study the particularities of this law and the demands for its passing come amid a set of highly unfavorable and oppressive conditions that drastically reduces the chances for arriving at the best model for a law that takes the interests of Iraq into account and allows for the establishment of a successful future oil industry that is able to push the wheel of economic and social development.

The deteriorating security conditions in Iraq that cost many Iraqis their lives, and push many others into destitution have also worsened the exodus of Iraq's qualified cadres, and undermined the country's social fabric and its human resources, which is the most important, if not the only sustainable, of all Iraq's resources.

Therefore, higher priority should be set to reaching the political settlement needed to put an end to the violence and give Iraqis the security and the stability that allows them to think clearly of their other issues, and since it would be difficult to work on developing Iraq's oil resources in light of the current circumstances, there should be no harm in waiting.

Furthermore, debating Iraq's oil law under a foreign military occupation might make the law vulnerable to domestic or international legal challenges in the future, since it would be sanctioned in the presence of a military occupation, by countries that have clear interests that stand to be affected by the wording and the essence of the law being drafted.

Accordingly, it would be normal to expect these country to resort to pressure as means of serving their political and economic strategic interests, as they are certainly anything but neutral, and constitute a main pressure front that influences the ongoing deliberations over the law, particularly in the direction of sanctioning a certain formula during this stage that might not be completely inline with Iraq's national interest as seen by many within and without the country.

The timing of the discussion of the law, coming ahead of a key development taking place in the Kurdish region of Iraq, namely the referendum on the final status of this region, is among the most intriguing factors surrounding the debating of the law, especially since Kurdish politicians constitute the critical mass for the drive to increase the regional and provincial bargaining powers in the debate over the distribution of the exploration, development and oil production operations between the provincial authorities and the central authority in Baghdad.

Since whatever the decision to be taken with this regard is expected to apply to all of Iraq's provinces, and in light of the autonomous nature, which lies at the cornerstone of the attitude that shapes the stance of the Kurdish province, and which sets this province part from the rest of Iraq; the law being drafted would probably lead to the sharing of oil wealth between the central and the provincial governments.

However, any participation by the provincial authorities in the development of Iraq's oil resources would almost certainly guarantee international oil companies a foothold in operations to develop Iraq's oil resources and oil production operations as partners under 'production sharing' contracts as nascent regional oil bodies are seen as lacking the ability to meet the technical, and self-financing requirements needed for the development of the oil field expected to be allocated to it.

It is also wroth taking into account that direct foreign investment in the Iraqi oil sector will not be an advantage to Iraq if national Iraqi oil companies possess these capabilities, especially since Iraq's oil is easily produced and is considered among the cheapest oils to produce world wide.

For these critical technical and funding capabilities to be available, national Iraqi oil companies must be of a certain caliber in terms of their financial assets and production capabilities, which are qualities only available to regional companies as the size of the Iraq oil reserves does not justify the presence of a large number of oil companies, each possessing the needed capabilities.

When it comes to the technical services sector expected to be needed by the Iraqi oil sector, for example in the field of rehabilitating production operations of oilfields that were damaged by the military operations; expert oil companies could be contracted under service contracts that do not entail granting these companies any concessions over Iraq's natural resources or undermining the national sovereignty of Iraq over these companies

Keeping the oil sector completely under the control of a single, central authority does not necessarily entail allowing national oil company to monopolize the oil and gas sectors on the intermediate or the long runs, nor the absence of transparency, which are constitute legitimate concerns by a majority of Iraqi oil experts; leading some to call for a decentralized approach in managing the oil sector.

This is because transparency can be achieved by running the national oil company on commercial basis or completely privatizing it under the appropriate regulatory restrictions.

Moreover, more then one, technically and financial competent national oil companies can be established to ensure competitiveness, high production and transparency levels, since taking into account the amount of confirmed reserve, the Iraqi oil industry might be able to accommodate three or four national oil companies competing in all of the country's regions.

At the same time, the federal oil and gas council proposed by the draft law is largely seen as a suitable framework governing the partnership between the central and provincial authorities in regulating and administering the oil and gas sector. The council also gives provincial authorities, if given the needed powers, the possibility of monitoring and auditing the central administration of the oil sector.

It is also worth mentioning that privatizing the national oil company or companies does not necessarily entail sacrificing the sovereignty of the state over its oil resources, or abandoning the national strategy aimed at developing these resources, since the government - in the event national oil companies were privatized in the future, and in contrast to production sharing contracts - can always maintain shares with a golden cover that allow it to maintain majority control over this critical sector.

When it comes to spending oil-generated revenues, the agreement reached to fairly distribute these revenues among the provinces according to the size of the population is acceptable in principal since it reflects keenness to preserve the unity of the Iraqi people.

The practical implantation of this principal might lie in a methodology for economic and social development that aims at the eliminating the differences between the Iraqi provinces in income distribution and human development in line with the UN report for human development, as such methodology would direct all the central revenues, not just oil revenues toward achieving this critical goal.

Oil revenues might also be streamlined in the initial phase into the process of restructuring, rehabilitating and upgrading the country's infrastructure and basic utilities as demanded by a number of Iraq experts and subject matter spe******ts.

The bigger part of these revenues, however, should be invested in diversifying the Iraqi economy's productivity base and getting ready to the post-oil era. In this context, Iraq would need massive direct foreign investments, particularly in the field of advanced technologies and the development of high value-added industries.

All this, however, would remain within the realm of wishful thinking or theories if peace and stability could not be maintained throughout the whole of Iraq.

http://english.daralhayat.com/busine...3a6/story.html

[Lunar]

Iraq oil law deadline approaches

The fragility of Iraq's draft oil law is increasingly apparent. After being presented with the bill on February 26 observers had expected legislators in Baghdad to reach agreement by the end of May. But parliament remains split on the issue.

Iraq: 11 hours, 2 minutes ago

And as pressure on Iraq's Prime Minister Nouri Al Maliki's government to get its draft oil law passed intensifies, opposition is growing with critics calling for the law to be put on hold.


Critics line up
Grassroots opposition to the proposed law was revealed by calls from the 26,000 member Iraq Federation of Oil Unions to be included in discussions on the outline legislation. This followed a strike over bonuses in mid June that temporarily halted shipments of oil products from Basra, the country's main export outlet.

While the draft law allows provincial authorities to negotiate development contracts, subject to review by a federal oil and gas committee, almost all Iraqi oilfields for the moment are under the control of the Iraq National Oil Company, a body which itself is due to be re-incorporated.

Dhia Al Bakaa, a former head of the Iraqi state oil marketing organisation, has criticised the draft law as inappropriate before the future of the country's national oil company is decided and the security situation is brought under control.

Exactly how the INOC and the Oil Ministry are to be restructured remains to be seen. The law seems intended to transform Iraq's oil industry from a nationalised model closed to foreign companies except for limited, albeit very lucrative, marketing contracts, into a commercial industry, all but privatised, that is fully open to all international oil companies.

The Iraq National Oil Company would have exclusive control of just 17 of Iraq's 80 known oil fields, leaving two thirds of yet to be exploited areas open potentially to foreign control.

Iraq has some 27 fields in production and another 25 that are close to producing all under INOC control as well as 26 fields already identified but not yet exploited which could be offered to investors in dozens of new blocks.

Details of how oil revenues from new production will be disbursed have also to be decided. The draft calls for a distribution to provinces based on the size of the population in each of them.


Delays add to pressure
The impasse is causing impatience in the US since Washington is committed to a broad ranging review of its operations in Iraq by September.

American officials, including Vice President Cheney and Defence Secretary Robert Gates and others, during visits to Baghdad have stressed how important it is for Iraq to show progress not just in taking more responsibility for security matters but also in agreeing on vital constitutional and economic questions. The draft oil law is seen as a benchmark test.

The strike threat may have been a catalyst that will cause a new look at the draft law. If the dispute had not been resolved with a promise of an inquiry into grievances, much of Iraq's 1.6 million barrels per day production could have disappeared from export markets with a significant impact on global oil prices.

Iraq oil law deadline approaches | Middle East Oil and Gas

[Hkp]

Lukoil Russian" in Iraq organizes training courses for the staff of the Iraqi Oil Engineering

The invitation of the company "Lukoil" oil reached a new set of the architects of the Iraqi oil will go to Russia, where more than 70 people from the Oil Ministry employees a full month to a training course in productive facilities and refineries of the company.

The shuttle flight organization with the "Hearts Oil," which came out this group of trainees had returned to Iraq by the same group, made up of 10 engineers Iraqis after the completion of the semi-annual University "Ever" of oil and gas which consists of a group of engineers with advanced degrees and work experience in the field of large oil gas and all bilingual English and resume their studies during the other half of the year after spending the summer holiday at the University of "Moscow" of oil and gas. And thanks in training and education opportunities of this company "Lukoil" Russian oil cost expenses such ho****ality at their own expense.
Implementation of the Plan "Lukoil" is expected arrival of a large number of other Iraqi trainees next September in addition to the current number of 70 to complete the opportunities open to the company, amounting to 150 persons annually in a training period of one month. The proceeds amounted 458 person-specialized training period of one month in the company's installations and 10 persons - integrated training courses of one year in the company's installations and universities 84 person-******* students in the universities and Dr. oil and gas Russian qualified by this program strategic interest of both countries in Russia according to the requests of the Ministry of Oil under the Memorandum of Understanding and Cooperation signed in Baghdad between the ministry and the company "Lukoil" in the March 10 2004 source at the company explained that in recent years the company "Lukoil" achieved great successes in oil and gas projects in the Middle East. For example, in 2006 the discovery was one of the largest oil fields in the world over the last decade in the area "Anaran" Iranian works "Lukoil."
Also in the month of February 2007 the company announced the discovery of hydrocarbons in the area which is explored in Saudi Arabia.

"Rebuild Iraq-2007"

It should be noted that beginning last May participated company "Lukoil" in the exhibition "Rebuild Iraq - 2007" International Conference in Amman, where outstanding presentation bring attention lot of important guests, including Minister of Oil of Iraq, Dr. Hussein Shahrastani and the Prime Minister of Jordan, Mr. Unknown Bakhit and a number of deputies of the Iraqi regime.
This suggests a company "Lukoil" leading Russian oil optimistic it together with the Iraqi National owners on the road towards their sound great common development field "West Qurna" Giant.

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

[Hkp]

called for the need to postpone issuing at the present time

Researcher Akademi : creating fundamental changes in the draft law of oil and gas can optimize the exploitation of oil

Baghdad Abbas Algalbi
The academic researcher need to wait to issue oil and gas law currently before in the corridors of the parliament for adoption only after the constitutional amendments expected.

He called d. Kamel Kazem Al from the University of Baghdad. the House to create fundamental changes in the draft law in regard to currently producing fields and discovered non-developed, which will be discovered in the future, pointing to the lack of reliable contracts to participate in the production, except in cases of absolute necessity of the urgent need to increase productive capacity after draining all other contractual means less expensive and shorter-term and comprehensive implementation of the work required.
Observers described the oil and gas that is controversial at the time of differing views around under pressure and declared claim of the American administration to expedite approval as claimed by some American politicians who promised security bill passed out of the country's political crises and security.
He alluded to the presence of defects surrounding some articles calling for its legal legally and technically and economically in order to avoid any failure in optimum exploitation of oil at the same time stressing the need to restructure the Iraqi economy and harmed its production of all non-excessive dependence on oil as the sole income him.
He stressed the need for openness to the global technical in the oil sector stressing the importance of caution in dealing with foreign investors and open the door to foreign companies investing in controlling the extraction and production and export.
The Al of the presence of the federal oil and gas important need to protect the oil wealth, to quote his calling creating a state of balance between the national interest and on the feasibility of openness to the outside world on the other hand.
He stressed the need to see Al coming period rehabilitate the infrastructure of the oil sector in all its aspects and the strategic outlook of prospecting and production, stressing the priority at the present time to develop the technical and economic efficiency of the fields discovered and build production capacity and move later to prospecting and exploration, saying that dealing with foreign companies, the giant is unrealistic to upgrade techniques in the oil sector
Al pointed out that Iraq possesses the human and material resources to be able to promote the fact developmental without excessive dependence on oil, pointing out the importance of activating the agricultural and industrial sectors and tourism which are important tributaries of working side by side with oil to activate and energize and strengthen the sources of income of the Iraqi economy.

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