Thamir al-Ghadban writes: “In view of the country’s need for greater revenue to satisfy its people’s needs and its desire to improve the living conditions after the long years of deprivation; the lost capacity over the past three decades which benefited other producing countries many of which sit on hundreds of billions of dollars in sovereign funds; forecasts of future supply and demand and the expected decline in the output…
Tag: model contracts
Oil Chaos
2 March 2007 Iraq’s draft petroleum law, approved by the cabinet this week, claims to be fair, clear, transparent and efficient. It’s anything but. The bill, which has to be approved by parliament before coming into force, emerged after a series of compromises — and US pressure — aimed at overcoming Kurdish opposition to any form of centralized power. The result is to enhance the country’s division along ethnic lines…
Iraq Prepares Ground for Future Contracts
14 June 2004 Iraq’s oil ministry is setting out on a process of preparing a new oil policy, as well as drafting model contracts and a petroleum law, to be approved later by the country’s elected bodies, Iraq’s new Oil Minister Thamer al-Ghadban said in an interview. The work aims to prepare Iraq for its political evolution, which should see the adoption of a new constitution in around 18 months,…