Thread: HCL is with parliament.

U.S. envoy urges speeded reforms in Iraq
BAGHDAD -

America's top diplomat in Iraq urged Prime Minister Nouri al-Maliki's government to speed up reforms geared toward achieving national reconciliation, saying it was its duty to do so soon.

Ambassador Ryan Crocker listed the adoption of a draft law for the equitable distribution of oil wealth, another to integrate members of Saddam Hussein's Baath Party in government departments, amending the constitution to satisfy Sunni Arab demands, and holding local elections as measures that the government had a "responsibility to tackle in the coming weeks."

"These are tasks that must be completed, and completed soon, to achieve national reconciliation," he said in an Arabic-language statement marking the first anniversary of al-Maliki's Shiite-dominated government.

"The first anniversary of a democratic government in Iraq is a victory for the people of Iraq. They've chosen their leaders and now it is the right of every citizen in a democratic society to expect measures and decisions from their elected representatives to serve the interests of Iraqis."

Crocker's statement provided the latest evidence that Washington had al-Maliki's government on notice that it must meet several policy benchmarks to secure continued U.S. support at a time when the Bush administration was under congressional pressure over its Iraq policies.

"The transition of any nation to a democratic system is considered a complex process ... It is easy to focus on the problems and challenges. Easy but wrong," said Crocker, who took over his job in March.

U.S. envoy urges speeded reforms in Iraq - Yahoo! News

AND STILL NO MOVEMENT BY THE GOVERNMENT TO SIMPLY BRING THESE ISSUES TO A VOTE...THEY BRAGGED THEY HAVE THE VOTES...

VERY INTERESTING NO INCLUSION OF THE KURD'S NEED FOR PASSAGE OF AMMENDMENTS 140/142...MAYBE, all the articles this morning are correct in that that Kurds have backed down from their benchmark and that they will support HCL...but time grows very short to get in place to RV before 1 June 2007 (Stock Market opens).

Of the three important issues stated the only one that the Iraqi's have met was the last one on local elections - as if you remember the news from a week or so ago; the Parliament set up and then announced the names of the Board that will oversee setting up local elections...they were/are to report back to the Parliament with a plan and a date for local elections this fall...

North Oil Company ( N.O.C. ) is a state company within the Ministry of Oil of Iraq, the scope it’s work being oil and gas production.

---------------

A SHORT GEOLOGICAL HISTORY

AND THE NATURE OF OIL FIELDS

The producing oil fields and other discovered structures of N.O.C. extend over almost two-thirds of northerly Iraqi land, from the northern borders with Turkey down to the 32.5 parallel in the south of of the country . The majority of these fields are anticline and dome shaped structures which were formed by alternating tectonic movements throughout the geologic times. Most of the structures were formed within a broad basin at the edges of the Arabian Plate of which Iraq represents the northern and north eastern flank.

Geologic and stratigraphic column of the oil basin in Iraq comprises all types of rock formations including source, reservoir and cap rocks. Sedimentary rock thicknesses of the basin increase toward an east and north east shelf, termed ( Unstable Shelf ), and decrease toward western desert called(stable shelf)

The sedimentary rock cover in Iraq responded to various types of compress ional forces that occurred late in geological times and brought about the diverse physiographic( topographic ) features of Iraq, the N.O.C. fields being a part of this morphology. The relief of structures increase from west to east and north east .

Most of N.O.C. oil and gas reservoirs are of carbonate rocks which have high effective and secondary porosities ( including vugs and fractures ) responsible for the prolific oil fields as well as very high production rates of oil from individual wells.

Original hydrocarbon ( oil and gas ) accumulation in the source ( mother ) rocks migrated vertically and/or horizontally from source rocks, such as massive shale formations to be eventually trapped in relatively porous and permeable reservoirs rocks capped by impervious solid formations. The existence of wide-spread fractures in most oil reservoirs, such as Kirkuk Main Limestone Reservoir, creates excellent conduits of fluid( oil, gas and water)movement along and across the reservoir thereby imparting high productivity to most of the oil wells. One of the wells in Kirkuk field, for example, had produced more than (100000) barrels per day which is commensurate to an average most of oil field production rates the world over.

The geological nature of the oil basin in Iraq, and, hitherto, the relatively immature status of exploration operations for most potential areas, entail the prospect of finding further large oil fields and/or extensions of the known ones. This means that the outlook for North Oil Company’s future oil reserves, and, hence, production rates, is very prosperous in deed.

north oil company

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100,000 bpd out of one well in Kirkuk--------

Yes, very prosperous in deed

not being a naysayer, as it were but a couple of Questions. As a member here for sometime, we have heard about this law and that law being passed by such and such a date. My question is Doesnt the law have to be passed and ENACTED before it becomes a reality. There is so much speculation and hopeful misinformation, that it is hard to believe much. But I am in it for the long haul.
benzboy

Were still on track for the stock market to open on the 1st of June, Right!!

Well then, how are they going to do that without a RV?

I was always under the assumption that if they don't RV before they open the

ISEX the country would be bought up for pennies?

Is this still the theory or am I off target?

Originally Posted by fredgwest1999

Tips to accept the Kurdish leadership to postpone the Article 140 on Kirkuk

Irbil (May 22) and the agency (Lucky) Italian News -

The Kurdish parliamentary sources it is expected that the Kurdish leadership made concessions regarding the implementation of Article 140 of the Iraqi Constitution versus maintaining, what it called "further gains" achieved for the Kurds in Kurdistan.

The transfer site (Sphi) on the Kurdish Jhalak Azad, MP in the House of the Iraqi Sulaymaniyah saying that "there is insistence large blocs of Iraqi political demands with respect to amend some articles of the Constitution, does not provide any of those lumps concessions to each other in order to break the current impasse, therefore Consultations and ongoing meetings on this issue did not yield any desired results.

"And on the willingness of the Kurdish leadership to accept the postponement of the implementation of article 140 of the normalization of Kirkuk under a political deal, Jhalak said,

"All parties must participate in the amendment of the constitution to make concessions, and the Kurds even if offered concessions in this regard, they will be concessions on the principles and main points contained in that article."

The transfer of the site from its own sources as saying that he believed that the Kurdish leadership has agreed to postpone the article 140, as they approved all the oil changes it.

They pointed out that the speech delivered President Massoud Barzani during the meeting yesterday, a number of officials partisan centers where hints willingness of the leadership Kurdish political unraveling of intractable problems in the political process, which occupy the Kurdish street.

It was scheduled to submit the constitutional amendments today, Tuesday, the text failed to make the necessary amendments to some articles of the Iraqi constitution.
Shs/Aki)Shs / Aki)

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


EVERY ONE SAYS (all of the latest articles in the Iraqi Press say) THAT THE KURDS ARE WILLING TO FORGO AMMENDMENT 140/142 AS A BENCHMARK FOR THEIR SUPPORT OF HCL -

BUT,

STILL RESTORNING SUNNI CIVIL RIGHTS AND HCL HAVE NOT BE INTRODUCED OFFICIALLY AND THUS NEITHER HAS HAD THE NECESSARY 3 READINGS IN PARLIAMENT TO BECOME A LAW or did I truly miss something from Parliament?

TIME IS RUNNING OUT FOR THIS WEEK!
One more session this week and then it off till Sunday...
WITH A WEEK FROM THIS FRIDAY (1 June 2007)
THE OPENING OF THE STOCK MARKET -
ELECTRONICALLY & INTERNATIONALLY
...(Only 5 more Parliament sessions till this event and they need 3 readings of each law)

ARE WE LOOKING AT ANOTHER VIET NAM STOCK MARKET SITUATION - THEY ARE OPEN BUT NO RATE INCREASE WAS MADE?

NOTE: Why I mentioned this as both laws are the benchmarkets that the IMF/WTO have set...especially the Sunni Civil rights as that is the trigger to acquire the actual debt relief from the Sunni Arab countries and thus trigger an RV (or maybe not - who knows these days)

Iraq still hopes to pass oil law in May
Translated by IRAQdirecotry.com - [23/05/2007]


Iraqi Deputy Prime Minister, Barham Salih, said on Saturday that Iraq still hopes for agreement based on the oil law draft this month, thus allowing the Parliament to pass it soon.

Salih said on the sidelines of the World Economic Forum in Jordan that negotiations should begin soon in Baghdad to review details of the annexes of the law and the method of distributing oil income. He said that a Kurdish delegation is in Baghdad and that he will return to Iraq on Sunday to start negotiations.

Salih said that those who seek to hold talks want to ensure that the law includes restrictions and balances for a fair distribution of income and to discuss the scope of activity and control of the Iraqi National Oil Company. He said that they hope to complete this before the end of the month, adding that reaching an agreement would mean that the law can be passed to Parliament for approval.

Salih said that the law will shape the country's economy for a long period, describing it as the most important legislation that Iraq has to draft.

The law aims to distribute Iraq's oil wealth fairly among the Shiites, Sunni and Kurds. Washington thinks that the law is important to ensure national reconciliation in Iraq.

So with this recent group of articles, what's the likelyhood of an RV on or around June 1st.
(Scale of 1 to 10)

sorry if posted already:


Officially Rescheduled

Iraq Oil, Gas, Petrochemical & Electricity Summit

2-4 September 2007, Dubai, UAE Full summit details >>> The Iraq Development Program has been advised following consultation with senior officials from the Iraqi Government, the Kurdistan Regional Government and the US Embassy Baghdad to reschedule the Iraq Oil, Gas, Petrochemical & Electricity Summit for 2-4 September 2007. This has come about as a result of ongoing negotiations concerning Iraq’s proposed new hydrocarbon law.

Expectations were that the hydrocarbon law would be in place for the scheduled date, but it has now become clear that the law will take a few more weeks to be passed and that the interests of attending companies and the Iraq Development Program will be best served by ensuring that the event has the strongest and most unified Iraqi support.

Accordingly, it is agreed that 2-4 September will be the best time for the international energy community to gather and discuss hydrocarbon activities within Iraq. The summit will still be taking place at in Dubai, which remains an outstanding venue for the summit.

All confirmed delegates will have their registration forwarded to the rescheduled summit date. Any company or individual who has booked hotel rooms through the Iraq Development Program should cancel their reservation at the latest 72 hours before their scheduled arrival time and no costs will be incurred.

The Iraq Development Program apologises for any inconvenience caused and maintains its commitment to serve the best interests of its delegates in making sure it delivers the strongest possible event for Iraq’s energy sector.

Iraq Oil, Gas, Petrochemical & Electricity Summit

Cheers!
DayDream

So....If HCL is not signed by June 1, we have to see if it'll be signed around 2-4 September???

If the RV doesn't happen this week, will the ISX open on June 1st or will there be a delay?

Originally Posted by ChiefWealth53

If the RV doesn't happen this week, will the ISX open on June 1st or will there be a delay?

June 1st is a holy day and ISX won't open on that day - probably the 4th and possibly into the 2nd week of June. Her guess is good as any and better than most.