On: Sat 23/07/2011 8:04
Baghdad / term follow-up of economic
, parliamentary sources confirmed that the Oil Ministry signed a contract with the company "Shell" is illegal, and I went to the harassment of political differences and on the draft law of oil and gas may hinder the passage during the current year.
The decision of the Energy Commission, the parliamentary Furat al-Shara said that the signing of the Oil Ministry signed a contract with "Shell" is illegal because of the lack of familiarity with the Commission on the wording of the contract. He said al-Shara told the Kurdish news agency (Rn) "This contract is not recognized by the lack of transparency in the ministry with the Energy Commission to clarify paragraphs of the contract with Shell. "He said Islam that the Energy Commission representative recommended by the Oil Ministry the need to work to send the initial contracts to in order to access them and provide cover legislative them." and that the Energy Commission objects to all contracts entered into by the ministry, which is ignored for the Energy Commission representative responsible for policy-making general oil in the country. "The government had announced on July 12 announcement, the Oil Ministry signed a contract with Shell's $ 12 billion to develop oil fields in Basra. Iraq has been trying, since the Company has signed a gas south of Iraq in 2008 on a tentative agreement with my company (Shell) and (Mitsubishi), the Japanese, to the collection and use of the largest percentage of gas from the southern oil fields in Rumaila, Zubair, West Qurna and the possibility of these three wells located within the boundaries of the province of Basra, the production amounted to 1.05 billion cubic feet of gas per day, However, it is the exploitation of only 450 million cubic feet per day, while singing the other part of it.
Iraq says that 60% of its crude oil exports to Asian markets the world, favored by the U.S. to impose it with money transport system "transit."
The oil ministry had announced in September / September last year that crude oil inventories in the country was 505 billion barrels of discovered fields that $ 66 oil fields, with total recoverable reserves of 143 billion barrels of oil
and Iraq has a stockpile estimated at 112 trillion cubic feet of gas, but the 700 million cubic feet of it burning day and wasted due to lack of infrastructure.
to that, the member of the Commission on oil and energy parliamentary Furat al-Shara that the differences on the draft law of oil and gas surged between his committee and the political blocs Parliamentary other, which may hinder the adoption of this year.
The Shara told the Kurdish news agency (Rn) that "the political blocs, the parliamentary will not pass the oil and gas law, unless adjustments are made large by the by the Iraqi government, which would explain the oil policy and the role of the Federal Council of Oil and non-objection oil and gas law to establish a national oil company."
He "The draft law of oil and gas intersect with the oil projects, national, and not easy passage during the current year in the Iraqi parliament."
and "The Energy Commission representative will review a draft law that you complete the Energy Commission, government, headed by Hussein al-Shahristani is now before the Council of Representatives to make some adjustments on oil policy and mechanisms of implementation of the projects booming strategic. "
The government has announced recently that the Cabinet will next week, oil and gas law for discussion in and out with a draft final and sent to the House of Representatives to endorse it.
The Committee announced that state energy which is chaired by Deputy Prime Minister Hussein al-Shahristani on July 14 announced that it completed the amendments to the The draft law of oil and gas and sent to the prime minister to make adjustments.
and the failure of the House of Representatives Bdorth previous pass oil and gas law, which was expected to rise oil situation if approved.
The text of the Iraqi constitution, the formation of the Federal Oil, headed by Prime Minister or his deputy under his chairmanship and membership includes both of the Ministers of Oil, Finance, Planning and Development Cooperation in the federal government and the Iraqi Central Bank Governor and a representative from each province, a minister and a representative from each province produced irregularly in the province and the executive heads of the most important institutions of oil-related and which include the national oil company Iraqi oil marketing company and experts deal with matters of oil and gas, finance, economy, not more than three are appointed for a maximum of five years by the Council of Ministers.
intends to Iraqi oil exports be increased during the next six years to 12 million barrels per day after obtaining the approval of the international oil ( OPEC).
In the meantime, stepped up futures prices for oil in Asian trade on Friday backed the agreement of euro zone leaders on a comprehensive plan to resolve the debt crisis and signs of progress toward an agreement to reduce the U.S. budget deficit which is covered on weak economic data from China's second largest consumer of oil in the world.
supportive for prices, also the decision of the International Energy Agency not to withdraw the additional quantities of oil from emergency reserves.
and crude rose Brent contracts for September delivery up 30 cents at 117.81 dollars a barrel after jumping earlier to 118.17 dollars.
rose U.S. crude was 34 cents to 99.47 dollars a barrel, heading toward the end of the week, the rise of 2 percent in the fourth week in a row of gains.
The leaders agreed the euro area, which includes 17 countries on the first Thursday on a plan to support a second to save Greece include government aid worth 109 billion euros (157 billion dollars) in addition to the contribution from the holders of bonds in the private sector estimated total value of about 50 billion euros by mid-2014.
and pushed the news the euro to rise to its highest level in two weeks against the dollar, while gold fell to about 1,590 dollars per troy ounce, down $ 20 for the highest level ever of about 1610 dollars struck on Tuesday.
Oil prices fell on Thursday after data showed that the manufacturing sector in China record a contraction for the first time in a year as the economy is affected negatively to tighten credit policy and a slowdown in global demand.
[You must be registered and logged in to see this link.]
Baghdad / term follow-up of economic
, parliamentary sources confirmed that the Oil Ministry signed a contract with the company "Shell" is illegal, and I went to the harassment of political differences and on the draft law of oil and gas may hinder the passage during the current year.
The decision of the Energy Commission, the parliamentary Furat al-Shara said that the signing of the Oil Ministry signed a contract with "Shell" is illegal because of the lack of familiarity with the Commission on the wording of the contract. He said al-Shara told the Kurdish news agency (Rn) "This contract is not recognized by the lack of transparency in the ministry with the Energy Commission to clarify paragraphs of the contract with Shell. "He said Islam that the Energy Commission representative recommended by the Oil Ministry the need to work to send the initial contracts to in order to access them and provide cover legislative them." and that the Energy Commission objects to all contracts entered into by the ministry, which is ignored for the Energy Commission representative responsible for policy-making general oil in the country. "The government had announced on July 12 announcement, the Oil Ministry signed a contract with Shell's $ 12 billion to develop oil fields in Basra. Iraq has been trying, since the Company has signed a gas south of Iraq in 2008 on a tentative agreement with my company (Shell) and (Mitsubishi), the Japanese, to the collection and use of the largest percentage of gas from the southern oil fields in Rumaila, Zubair, West Qurna and the possibility of these three wells located within the boundaries of the province of Basra, the production amounted to 1.05 billion cubic feet of gas per day, However, it is the exploitation of only 450 million cubic feet per day, while singing the other part of it.
Iraq says that 60% of its crude oil exports to Asian markets the world, favored by the U.S. to impose it with money transport system "transit."
The oil ministry had announced in September / September last year that crude oil inventories in the country was 505 billion barrels of discovered fields that $ 66 oil fields, with total recoverable reserves of 143 billion barrels of oil
and Iraq has a stockpile estimated at 112 trillion cubic feet of gas, but the 700 million cubic feet of it burning day and wasted due to lack of infrastructure.
to that, the member of the Commission on oil and energy parliamentary Furat al-Shara that the differences on the draft law of oil and gas surged between his committee and the political blocs Parliamentary other, which may hinder the adoption of this year.
The Shara told the Kurdish news agency (Rn) that "the political blocs, the parliamentary will not pass the oil and gas law, unless adjustments are made large by the by the Iraqi government, which would explain the oil policy and the role of the Federal Council of Oil and non-objection oil and gas law to establish a national oil company."
He "The draft law of oil and gas intersect with the oil projects, national, and not easy passage during the current year in the Iraqi parliament."
and "The Energy Commission representative will review a draft law that you complete the Energy Commission, government, headed by Hussein al-Shahristani is now before the Council of Representatives to make some adjustments on oil policy and mechanisms of implementation of the projects booming strategic. "
The government has announced recently that the Cabinet will next week, oil and gas law for discussion in and out with a draft final and sent to the House of Representatives to endorse it.
The Committee announced that state energy which is chaired by Deputy Prime Minister Hussein al-Shahristani on July 14 announced that it completed the amendments to the The draft law of oil and gas and sent to the prime minister to make adjustments.
and the failure of the House of Representatives Bdorth previous pass oil and gas law, which was expected to rise oil situation if approved.
The text of the Iraqi constitution, the formation of the Federal Oil, headed by Prime Minister or his deputy under his chairmanship and membership includes both of the Ministers of Oil, Finance, Planning and Development Cooperation in the federal government and the Iraqi Central Bank Governor and a representative from each province, a minister and a representative from each province produced irregularly in the province and the executive heads of the most important institutions of oil-related and which include the national oil company Iraqi oil marketing company and experts deal with matters of oil and gas, finance, economy, not more than three are appointed for a maximum of five years by the Council of Ministers.
intends to Iraqi oil exports be increased during the next six years to 12 million barrels per day after obtaining the approval of the international oil ( OPEC).
In the meantime, stepped up futures prices for oil in Asian trade on Friday backed the agreement of euro zone leaders on a comprehensive plan to resolve the debt crisis and signs of progress toward an agreement to reduce the U.S. budget deficit which is covered on weak economic data from China's second largest consumer of oil in the world.
supportive for prices, also the decision of the International Energy Agency not to withdraw the additional quantities of oil from emergency reserves.
and crude rose Brent contracts for September delivery up 30 cents at 117.81 dollars a barrel after jumping earlier to 118.17 dollars.
rose U.S. crude was 34 cents to 99.47 dollars a barrel, heading toward the end of the week, the rise of 2 percent in the fourth week in a row of gains.
The leaders agreed the euro area, which includes 17 countries on the first Thursday on a plan to support a second to save Greece include government aid worth 109 billion euros (157 billion dollars) in addition to the contribution from the holders of bonds in the private sector estimated total value of about 50 billion euros by mid-2014.
and pushed the news the euro to rise to its highest level in two weeks against the dollar, while gold fell to about 1,590 dollars per troy ounce, down $ 20 for the highest level ever of about 1610 dollars struck on Tuesday.
Oil prices fell on Thursday after data showed that the manufacturing sector in China record a contraction for the first time in a year as the economy is affected negatively to tighten credit policy and a slowdown in global demand.
[You must be registered and logged in to see this link.]