Thread: Phone Call From A Freind.....

Iraqi parliament approves new oil draft law



MENAFN - 28/02/2007




(MENAFN) The Iraqi Oil Minister announced that the parliament collectively agreed on the oil draft law that permits foreign companies to invest and work in the Iraqi oil reserves and projects, the Iraq Directory reported.

Though the US expects a fall to 1.3 million barrels a day in the oil production, the government assures that the new law will guarantee a fair share of the profits to all Iraqis in all of the 18 provinces, said the minister.

He added that the utilization of the Iraqi oil reserves will be determined by open tenders provided by the ministry and based on model contracts.


MENAFN - Middle East North Africa . Financial Network News: Iraqi parliament approves new oil draft law

Originally Posted by Ranger III

I suggest to you that choice (2) may be just as feasible on March 22nd as
choice (1) was in late September. Hasn't $3.22 been said to be the "normal"
or "previous" rate in Iraq? Add to these positives the impending admission
of Iraq into the WTO, the assists from the World Bank and the IMF, the improved security expected to be delivered by General Petraeus, and the
increase in the price of oil well beyond the $50 per barrel assumed for 2007
budgetary purposes - and what you might conclude is that $1.29 is some-
thing of a minimum r/v number.

$3.22 was previous before Sadam Era. Now Sadam's currency was hicked to $3.84 at one time. So Previuous means before Sadam;

Also the $1.29 is low, considering that in 1982 a barrel of "OIL" cost $10.00. Now go figure the possibillity's.

Originally Posted by duck2000

THE rate of .33 was what the iraqi gov wanted to start with the gov of the US said that was too low the rate has been moving steadly upward and is past the 1.20 mark. THINGS are very fluid in iraq changes taking place every day that make the dinar worth more.needles to say that soon we will all be richer than i willdiest dreams it just takes alittle time to get this in line!

This Makes More sense to me than anything else. From all the things I get told or have simply just heard or read. This is like what I believe could very well be what is going on. Thanks Duck2000 for the therory.

[QUOTE=neno;170914]Iraqi parliament approves new oil draft law



MENAFN - 28/02/2007




(MENAFN) The Iraqi Oil Minister announced that the parliament collectively agreed on the oil draft law that permits foreign companies to invest and work in the Iraqi oil reserves and projects, the Iraq Directory reported.

Though the US expects a fall to 1.3 million barrels a day in the oil production, the government assures that the new law will guarantee a fair share of the profits to all Iraqis in all of the 18 provinces, said the minister.

He added that the utilization of the Iraqi oil reserves will be determined by open tenders provided by the ministry and based on model contracts.


[url=http://www.menafn.com/qn_news_story_s.asp?StoryId=1093144717]MENAFN - Middle East North Africa . Financial Network News: Iraqi parliament approves new oil dra

Hey neno we have been eating on that post all day,been slow,glad your here!
Any new info for us?
Sarah

Originally Posted by snottynose

Hey neno we have been eating on that post all day,been slow,glad your here!
Any new info for us?
Sarah

Between other areas of the Forum and the Dayjob. I have nothing to add at this time. I am just reading and replying to some post Today.

I figured that you all knew that already.

.......................

Originally Posted by neno

Iraqi parliament approves new oil draft law



MENAFN - 28/02/2007




(MENAFN) The Iraqi Oil Minister announced that the parliament collectively agreed on the oil draft law that permits foreign companies to invest and work in the Iraqi oil reserves and projects, the Iraq Directory reported.

Though the US expects a fall to 1.3 million barrels a day in the oil production, the government assures that the new law will guarantee a fair share of the profits to all Iraqis in all of the 18 provinces, said the minister.

He added that the utilization of the Iraqi oil reserves will be determined by open tenders provided by the ministry and based on model contracts.


MENAFN - Middle East North Africa . Financial Network News: Iraqi parliament approves new oil draft law

thanks for the update. This is huge as newspapers were saying might be approved by the end of March. Condi must have lite a huge fire under their backsides!!

I think the MENAFN news might be wrong, I think they may have confused Cabinet with Parliament in the translation.

The reason I believe they’re wrong is because the other day when the news broke about the Cabinet’s approval it was in all the news papers, on TV and radio in a matter of minutes, the story was everywhere.

Has anyone seen this story anywhere other than MENAFN?

Parliament is suppose to be out on break until next month and if they suddenly approved the HCL it would be a giant story and it would be blasted everywhere for two reasons… 1. It’s the final hurdle for the long awaited HCL and 2. Parliament actually came back early with enough people to vote.

I believe everything will be done and everyone will have their hands on their money by April 8th, but I think it will be a few days/weeks before Parliament approves the HCL.

Originally Posted by DocDave

I think the MENAFN news might be wrong, I think they may have confused Cabinet with Parliament in the translation.

The reason I believe they’re wrong is because the other day when the news broke about the Cabinet’s approval it was in all the news papers, on TV and radio in a matter of minutes, the story was everywhere.

Has anyone seen this story anywhere other than MENAFN?

Parliament is suppose to be out on break until next month and if they suddenly approved the HCL it would be a giant story and it would be blasted everywhere for two reasons… 1. It’s the final hurdle for the long awaited HCL and 2. Parliament actually came back early with enough people to vote.

I believe everything will be done and everyone will have their hands on their money by April 8th, but I think it will be a few days/weeks before Parliament approves the HCL.

You have a point Doc...let's see what happens in the next few days.

Actually, MENAFN picked it up from Iraq Directory so it's not their exclusive and if I recall Iraq Directory is owned and operated by the same owner as IIF.

Originally Posted by DocDave

I think the MENAFN news might be wrong, I think they may have confused Cabinet with Parliament in the translation.

The reason I believe they’re wrong is because the other day when the news broke about the Cabinet’s approval it was in all the news papers, on TV and radio in a matter of minutes, the story was everywhere.

Has anyone seen this story anywhere other than MENAFN?

Parliament is suppose to be out on break until next month and if they suddenly approved the HCL it would be a giant story and it would be blasted everywhere for two reasons… 1. It’s the final hurdle for the long awaited HCL and 2. Parliament actually came back early with enough people to vote.

I believe everything will be done and everyone will have their hands on their money by April 8th, but I think it will be a few days/weeks before Parliament approves the HCL.