The market doesn't believe the vote would take place on Sunday. |
Whatever the legality of PSCs they surely are history as everyone signs up to Sistani`s new approch to pricing but I suppose they do need to be careful that he doesn`t slip in a late amendment. The good part is that APIKUR seem happy to go along. but the bottom line is where the truth lies for us. |
 Iraqi Parliament to pass Budget Law amendments Sunday
Iraq
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Iraqi Parliament to pass Budget Law amendments Sunday
2025-01-30 14:21
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Shafaq News/ The Iraqi Parliament has scheduled a session for Sunday to vote on the first amendment to the Federal Budget Law, following an agreement between political blocs to approve the changes submitted by the government.
Sunday’s session will include a vote on the proposed amendment along with other legislative items, according to the parliamentary agenda published by the Media Department of the Council of Representatives.
The budget amendment vote had been repeatedly delayed due to political disagreements, and, at times, a lack of quorum. However, a political source confirmed to Shafaq News that "Prime Minister Mohammed Shia al-Sudani and political bloc leaders have reached an agreement to pass the amendment in Sunday’s session."
Key changes in the amendment include an increase in compensation for the Kurdistan government (KRG) regarding oil production and transportation costs, raising the compensation rate from $6 to $16 per barrel, reflecting the actual expenses incurred by the KRG, in addition to a mandate that the KRG immediately transfers its oil output to the state-run Oil Marketing Company (SOMO) to consolidate oil revenues under federal control. |
Budget vote Sunday
Iraqi parliament to vote on key reforms in upcoming session
Among the key items, parliament will vote on the first amendment to the federal budget law for 2023, 2024, and 2025, ensuring financial stability and efficient allocation of resources.
18 hours ago
Iraqi parliament headquarters. (Photo: Iraqi parliament)Iraqi parliament headquarters. (Photo: Iraqi parliament)
Iraq
Iraqi Parliament
Federal budget law
ERBIL (Kurdistan24) – Iraq’s parliament has officially scheduled its next session for February 2, with a packed agenda aimed at driving legislative progress. Lawmakers will vote on three important bills and conduct a second reading of another, marking significant steps in governance and policy reform.
Among the key items, parliament will vote on the first amendment to the federal budget law for 2023, 2024, and 2025, ensuring financial stability and efficient allocation of resources. Another crucial vote will address amendments to the law on the equalization of qualifications and scientific degrees, a move aimed at enhancing academic and professional recognition.
Additionally, the session will feature a vote on the Ministry of Education’s initiative to reinstate the effort system, a decision that could positively impact the education sector. Finally, legislators will hold a second reading of a bill focused on improving regulations for higher education in non-governmental universities, reinforcing Iraq’s commitment to advancing its academic institutions.
This session underscores the government’s ongoing efforts to strengthen economic policies, education, and legislative frameworks, paving the way for continued development in Iraq. |
So it seems the Icg did appeal over the court decision ruling Mnr contracts legal.
But again lost. 👍 |
Easy £3+ on restart of exports as contracts now legitimised and large risk factor weighing on past share price lifted imo. |
Similar to Kevs post
Iraq signs $2 billion deal for Kirkuk oil refinery
Iraqi judiciary confirms oil contracts legality, Kurdistan Region declares
Kurdistan
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Oil
Kurdistan Region
Iraqi judiciary confirms oil contracts legality, Kurdistan Region declares
2025-01-30 21:13
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Shafaq News/ The Ministry of Natural Resources in the Kurdistan Region announced, on Thursday, that the Iraqi Court of Cassation issued a ruling confirming the legality of contracts between the region and oil companies.
"The Karkh Court, after several judicial sessions and a review of previous rulings, decided to reverse its prior decisions that had favored the Iraqi Ministry of Oil against the Kurdistan Region’s oil policy” the ministry said in a statement.
Criticizing the Federal Ministry of Oil, of “attempting once again to challenge the rulings in its favor”, the statement welcomed the final ruling noting that “the Iraqi Court of Cassation reinforced the legal standing of the oil contracts signed by the Kurdistan Region with operating oil and gas companies."
The ministry emphasized that this decision affirms the validity of the procedures followed by the region in signing agreements with foreign companies.
This ruling comes amid the ongoing dispute between the Iraqi government and the Kurdistan Region over the management of oil resources. The region asserts its right to independently regulate the oil and gas sector according to the Iraqi constitution, while Baghdad seeks to exert full control over the sector.
The oil and gas issue remains one of the most sensitive topics between Baghdad and Erbil, with recent years seeing a legal and political escalation regarding the legitimacy of the contracts signed by the region with foreign companies.
In 2022, the Iraqi Federal Supreme Court ruled that the Kurdistan Region's oil and gas law was unconstitutional, prompting the central government to attempt to assert control over the sector.
Despite this, the region continues to defend its position, citing its interpretation of the Iraqi constitution, which grants it extensive powers to manage its natural resources. |
Needs to break the 172 double top ,then we should be on our wayPJ |
Fortunately the company will announce the most obvious incoming takeover in history long before then... |
I doubt anything would be sorted this weekend. My bet is waiting for September |
170.8 on bid |
We should have an RNS shortly rgds CEO stay bonus.They need to have bought in around 75,000 -80,000 more shares to complete the bonus.I suspect also the company may start up the buyback program soon, |
Correct. In any case it will take weeks/months to compile a new PSC or modify the existing one. We dont need to know until then. |
You don't have to know the details at this stage.If Apikur(IOCS)are happy I'm happy in the knowledge that the contracts right now are legal therefore terms that are worse will not be tolerated/accepted.No speculation needed. |
Just for the record , the new terms and conditions will be formalised in a new PSC/TSC (or what ever) that will be made available to investors . It would be a tactical error / naive of APIKUR's to put these details in the public domain until they are confirmed in writing and signed off and while negotiations are still ongoing. |
Morning Habs. Fair comment. I'm sure the relevant parties will have all been made aware of it. Looks like a good day ahead ! |
Morning ss, I doubt if APIKUR will want to comment on that until the vote has been passed the negotiations complete and the pipeline reopened, they've probably decided that in the meantime it's best just left hanging where everybody knows it's there but nobody wants to talk about it.
But it's an important card that's for sure. Even if it isn't true the ICG know it's coming and importantly there's been no denial. |
All wonderful news which I missed due to an early night. KRG have such a strong hand now I wonder if we will hear any more talk of suing ICG for compensation. |
Kev – "Republican congress member Joe Wilson, stated on Thursday that Iraq’s Supreme Court is unconstitutional and has become an Iranian regime tool.
“Iraq’s Supreme Court is unconstitutional and has become an Iranian regime tool. Chief Justice Jassim Abboud Ameri is Iranian and Badr Corps puppet,” Wilson posted on his personal X account."
This guy Wilson has got the bit between his teeth and Iran firmly in his sights.
1waving - "Now we know that senior US politicians with clout are going to be making things happen in Iraq..
Wilson is a senior member of the House Foreign Affairs Committee, serving as Chair of the Middle East, North Africa, and Central Asia Subcommittee and a member of the Europe Subcommittee. He is also the most senior member of the House Armed Services Committee, where he sits on the Readiness and Strategic Forces Subcommittees."
BasNews - US Congressman Urges Sanctions on Iraq’s Largest Bank Over Alleged Iran Ties.
ERBIL — US Congressman Joe Wilson on Thursday called for punitive measures against Iraq’s Rafidain Bank, accusing it of facilitating financial transactions for Iran’s regime.
In a post on X, Wilson stated, “During the Biden administration and Brett McGurk’s tenure, the US Treasury and Federal Reserve have allowed Iraq’s Rafidain Bank, the country’s largest financial institution, to become a vehicle for laundering money to Iran and its assets to obtain US dollars.” He further urged, “This bank must face severe sanctions. President Trump will correct this mistake.” |
Just got in from my night shift, so that's a no from me. What subject was being discussed? |
Is anyone watching Hardtalk??? |
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