More Iraqi News Monday PM 3-14-22
More Iraqi News Monday PM 3-14-22
TLM724 Administrator BondLady’s Corner
Expedite The Discussion Of The Postponed Federal Oil And Gas Law
Sunday 13 March 2022 576 Baghdad: Imad Of The Emirate Experts and academics pointed to the importance of the legislation of the Federal Oil and Gas Law, which has been prepared by the government since 2007, and which is still without approval by the Iraqi parliament, stressing the need to take into account in the process of its legislation the reformulation of phrases and paragraphs according to economic concepts and avoiding the use of floating phrases, which are Subject to various interpretations and interpretations, which weaken the law from its real objectives.
International Court
Academic Dr. Abdul Karim Al-Issawi confirmed that “the next political stage in Iraq, after the recent early elections, hastened the resolution of the call, which is based on the region’s export of oil and gas outside Iraq, away from Iraq’s oil policy, which is supervised by the Iraqi Ministry of Oil through the SOMO Company, and it comes in line with With the approach of the International Court in Paris to take the direction of the lawsuit filed by Iraq against Turkey and demanded compensation for allowing the region to export oil away from Baghdad.
Existing Crisis
Al-Issawi stressed, “It is necessary to work to get out of this crisis, especially as it coincides with the formation of the next Iraqi government, so it is necessary for the new parliament to expedite the discussion of the draft oil and gas law that has been postponed since 2007, amend its paragraphs, and settle financial and legal problems between the federal and regional governments.” .
Draft Law
On the same level, the Dean of the College of Business Administration at Al-Nahrain University, Dr. Nagham Hussein, stated that “after the Federal Court’s decision of the unconstitutionality of the oil and gas law for the Kurdistan region, it became necessary to expedite the discussion of the draft federal oil and gas law that has been postponed in Parliament, noting that the law clarified a lot.” From the articles related to regulating the relationship between legislative and executive institutions, as well as clarifying the powers of each of the local administrations of the governorates, regions, and the federal administration.
And she continued: “The draft law referred to the establishment of the Federal Oil and Gas Council, which consists of the membership of the ministers of oil, finance and planning, the governor of the Central Bank and a representative of each governorate whose production exceeds 100,000 barrels per day, as well as the CEOs of oil institutions and specialized experts.”
Investment Promotion
For his part, the economic expert, Dr. Ahmed Al-Rawi, after the Federal Court’s decision that the region’s oil and gas law is unconstitutional and in order to complete the legal system supporting investment promotion, especially in the field of energy and after the legislation of Oil and Gas Law No. 13 of 2006 and Oil Products Law No. 64 of 2007, it is necessary to legislate the Oil and Gas Law Federal for regulating investment in this vital sector.
If legislated, this law provides the institutional framework for managing energy resources, as the draft law referred to the formation of an institutional system represented by the Federal Oil and Gas Council, regional bodies and the advisors’ office, as well as the role of existing institutions such as the Federal Ministry of Oil and the Office of Financial Supervision. .
He added that "accelerating the legislation of the law enhances the legislative role of the Iraqi parliament, as it is the first responsible for enacting laws and regulations, including legislation related to oil and gas, and also enhances the role of the Council of Ministers in approving the federal policy for exploration, production and marketing of energy resources." LINK
Global Oil Prices Continue To Fall
Economie| 08:30 - 14/03/2022 Follow-up - Mawazine News: Oil prices continued to drop last week by about four dollars a barrel, on Monday, after a US official said that Russia was showing signs that it might be ready to conduct substantive negotiations on Ukraine.
Brent crude futures fell in the latest trading by $2.42, or 2.15 percent, to $110.25 a barrel , and US
West Texas Intermediate crude futures fell by $2.68, or 2.45 percent, to $106.65 a barrel.
Both decades since Russia invaded Ukraine on February 24, they are up nearly 40% in the year so far.
US Deputy Secretary of State Wendy Sherman said on Sunday that Russia was showing signs that it might be ready for substantive negotiations on Ukraine, even as Moscow now intends to "destroy" its neighbor.
https://www.mawazin.net/Details.aspx?jimare=187175
Dollar Exchange Rates In Local Markets
Economie| 09:51 - 14/03/2022 Baghdad - Mawazine News The dollar exchange rates witnessed stability, on Monday, in the local markets.
Selling price: 147,250 dinars per $100 Purchase price: 147,000 dinars per $100. Ended 29/N33
https://www.mawazin.net/Details.aspx?jimare=187183
Customs: Develop A Comprehensive Plan To Combat Smuggling Throughout Iraq
Economie| 11:56 - 14/03/2022 Baghdad - Mawazine News Today, Monday, the General Authority of Customs announced the development of a solid plan to reduce customs evasion throughout the country.
A statement by the commission, obtained by Mawazine News, stated, "The director general of the commission, Shaker Al-Zubaidi, announced the development of a comprehensive and discreet plan to curb the evasion of paying customs duties and smuggling and tightening the screws on smugglers throughout Iraq."
The authority's statement confirmed, "A number of fixed and mobile customs points have also been placed in strategic and sensitive places, which will paralyze the smuggling movement and completely dry up its sources."
In its statement, the authority indicated that "this plan will provide full support to the investigation and anti-smuggling departments, in addition to their continuous and diligent work in order to protect the citizen's safety and security from prohibited materials and medical materials unfit for human consumption on the one hand, and increase and maximize revenues on the other hand." ".
https://www.mawazin.net/Details.aspx?jimare=187199
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