A Clarification about INOC draft law: The Council of Ministers (CoM) passed on July 28th by a majority vote a draft law for the re-establishment of Iraq National Oil Company “INOC”. A number of points were raised by the Shoura Council, Ministry of Finance, Ministry of oil and the Legal Directorate in the Council of Ministers Secretariat and a number of recommendations were made by the Advisory commission. All were…
Category: The Forum
Discussion on oil and politics
$0.5 per barrel for the producing provinces: An equitable share or additional revenue?
In its 21st ordinary meeting held on 9th June 2009 the Council of Ministers-CoM in Iraq decided to propose a draft law which provide every producing province (Governorate) a 50 cent for every barrel of oil produced by it. The decision was said to be a fulfilment of Article 121 sub-paragraph “Three” of the Constitution regarding equitable revenue sharing. Apart from this brief note the CoM website provides no further…
The Accelerated Program: A Delayed Start With Hurdles!
The interview with Mr Jabbar Al-Luaibi provides serious and damaging revelations, and could implicate top management of the Ministry of Oil-MoO on grounds of negligence, incompetence, loss of potential oil revenues and production capacity etc. The seriousness of the provided counts of events and matters calls for an independent investigation, and could very well be incorporated in the possible forthcoming questioning of the minister of oil before the Parliament. Since…
Baghdad Feb Conference
A conference to discuss the ailements of the Iraqi oil sector was held in Baghdad in late February with Prime Minister Nouri al-Maliki and his deputy Barham Salih publicly putting their weight behind finding practical solutions to the troubled sector and stop the decline in oil production in oil fields in southern Iraq. The question we ask: Are there practical and short term solutions to the problems suffered by the sector over…