Tag Archives | hydrocarbon law

Iraq’s Evolving Tax Landscape

By Imtiaz Ahmad. Over the last seven to eight years, Iraq remained very attractive for international investment especially in the oil and gas sector. Almost all major international oil companies (IOCs) invested, either individually or in partnership with others. By contrast, Iraq showed slow progress in setting out proper petroleum and tax policy for existing […]

Oil & Gas Law Key to Resolving Issues

Translated from Al-Hayat by Abdel Wahed Tohmeh, for Al-Monitor. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Iraqi Kurdistan Region Natural Resources Minister Ashti Hawrami (pictured) said that the shares of oil companies operating in the region have exceeded $3.5 billion. He stressed the […]

Iraq “has Little Interest in Oil Law”

By John Lee. A leading Sunni figure has said that Iraq is not likely to pass a hydrocarbon law anytime soon, as the government has little interest in pushing a draft through parliament. Adnan Al-Janabi, a member of the Iraqiyya party, and the head of Iraq’s parliamentary oil and energy committee, told Reuters: “It is […]

Lack of Federal Oil Law Cripples Iraq’s Recovery

By Thomas W Donovan, attorney at the Iraq Law Alliance. Any opinions expressed are those of the author, and do not necessarily reflect the views of Iraq Business News. Foreign “experts” like to depict Iraq’s oil industry as a cesspit of corruption, turmoil and factional politics. In fact, however, Iraq has made real progress, and […]

A Vote of Confidence in Iraq’s Future

This week in London, Iraq Business News was delighted to be Gold Media Partner at CWC‘s Iraq Petroleum 2012 conference, attended by wide range of senior executives and officials from the energy sector. The following sound-bites will give you a small taste of the mood of the event: “Iraq has greater potential than any other […]

Political Tensions Delay Iraq Oil Law

The current political tensions in Iraq are likely to delay the finalisation of a new hydrocarbon law for more than a year, according to Reuters. “With these chronic political differences I can’t see any possibility of having an oil law this year,” said Adel Barwari, a Kurdish adviser to Maliki. “If the [differences] were, say […]

Oil Law “Will be Passed Without Iraqiya if Needed”

AKnews reports that the debate on draft hydrocarbon legislation has been postponed by the Oil and Gas Committee of the Iraqi Council of Representatives because of the continued absence of Iraqiya List members. The law needs the approval of all parties to be passed. On 3rd January the committee revealed that an initial agreement between […]

Time to Move on: Iraq’s Oil & Gas Impasse Explained

The furore over the contract signed by US oil giant Exxon with Iraqi Kurdistan is another sign that Iraq urgently needs a new oil and gas law. As this primer from Niqash explains, the lack of this law could well be a sign that the dream of united Iraq is over. Any opinions expressed are […]

Kurdish President says Exxon Deal is On

The President of Iraqi Kurdistan said on Wednesday that the region will go ahead with its exploration deal with U.S. oil major Exxon Mobil despite objections from Baghdad. According to Reuters, Masoud Barzani (pictured) said Iraqi Prime Minister Nuri al-Maliki was told of the deal prior to its signing and had no objection, and called […]

Solution Reported over Hydrocarbon Law

In the ongoing conflict between the Kurdistan Regional Government (KRG) and the federal government in Baghdad over the proposed new oil and gas law, both sides agreed to adopt the draft law that had been presented in February, reports AKnews, citing Ghadhban Fadel, head of the advisers committee in the federal government. The announcement is […]

Shahristani Retains Hard Line on KRG Oil Contracts

Iraq’s deputy prime minister has said that oil contracts signed by the Kurdistan Regional Government (KRG) must be rewritten, and that recent government payments to international producers in the region in no way validate the contracts, according to a report from Reuters. “The contracts as they stand will have to be presented to the government […]