Petrel Resources Share Discussion Threads

[kdickson] 13/10/2020 10:32

Well, call me delusional, but I reckon there's a good chance the INOC law could literally get passed any day now. Maybe in time to announce at next week's Iraq Petroleum conference?


The "National Oil" law knocks on the door of Parliament

Tuesday 13 October 2020


Baghdad: Hoda Al-Azzawi


After the appeals submitted by the Federal Court, the Central Bank and oil experts, Law No. (4) of 2018 regarding the establishment of the "Iraqi National Oil Company", which was voted on by the House of Representatives in its previous session [KD: i.e. in 2018], here is the draft law that returns to the Council again after making amendments to it from Before the Council of Ministers, to vote on it again after reading it by the Parliamentary Oil and Energy Committee.

The draft law of the National Oil Company, "the amended version," arrived in the House of Representatives last week, after the Parliamentary Oil Committee demanded to send it more than four times during the time of the government of Adel Abdul Mahdi and during the current government of Mustafa Al-Kazemi.

An exclusive interview with Al-Sabah: “This law was approved from the previous session [2018], but some of its provisions were objected to by the Federal Court [in 2018], so its implementation was suspended, and some of the items that were objected have now been amended, and the law is currently in the Parliamentary Oil and Energy Committee from He postponed the debate and presented it to the House of Representatives for a vote.

Al-Halbousi stressed that "this law is one of the important laws, so we are going to see that (the Iraqi National Oil Company) be a global company like (Aramco) and major international companies," noting that "this company (if its law is approved), some extractive companies will join it," It is about nine companies, separated from the Ministry of (Oil) in its management, and its management is independent from the Ministry, and the companies are North Oil, Basra Oil, Central Oil and some other extractive companies, and the general manager responsible for them is at the rank of a minister [KD: current oil minister I believe], and there is an executive director in addition to two deputies and a commission Administrative, so we aspire to this company as the backbone of oil imports in Iraq."

hxxps://dinarvets.com/forums/index.php?/topic/279345-the-national-oil-law-knocks-on-the-door-of-parliament/

[bountyfull] 13/10/2020 10:14

Change has occurred and that rate of change will increase shortly. If you do not think that is the case invest elsewhere. f66 you can do a lot better than 13661 -that's just lolz

[exile] 13/10/2020 10:08

Lets have a reality check. PET has been in listed for over 20 years. It had a service contract in Iraq during the hot war. Why Iraq ? Since then the company could have tendered for service contracts in Norway, Sweden and even the UK...you can see where I am going with this. They could have purchased/leased specialist plant to hire/operate anywhere in the World. Instead they spaffed 40 million up the wall on what ? For over 20 years the only thing this company sells (and the many others these people run) is DREAMS. If anyone thinks that they will be entertained by an Iraqi official in London this week is Delusional... this outfit couldn't even supply a JCB Digger. They will also be given a wide berth due to the Tamraz fiasco. Time to wake up guys ! The dreams are over.

[fenners66] 13/10/2020 09:51

Things changed for PET Last Year...

They got new game changing investors remember?
90 days away from a £100m asset - free beer all round....
"sold" a majority stake in the company to a CP that in the opinion of the Directors of PET "would not or could not " afford to buy the shares at 1p a share !

A price which even today would yield a 300% profit - an absolute no brainer !

The game changer - proved to be more empty words.... again.....

Nothing has changed

[ducky fuzz] 13/10/2020 09:33

To the Whisky still ?

[kdickson] 13/10/2020 09:31

I think it's inconceivable that an 'Irish company' with a well respected long term relationship with Iraq would not meet up with at least one of the members of a very large Iraqi delegation who was visiting London. A quick hop over from Dublin to London.

Last time an Iraqi delegation of this size, including the Oil Minister, visited Washington, $8 billion worth of agreements were concluded.

[bountyfull] 13/10/2020 09:27

Your record certainty does not change f66 and yes we have heard it all before! But what you fail to understand is that things have now changed for PET!

[lippe] 13/10/2020 09:18

You certainly are the man Ken ...

Beyond lolz parody

[the chairman elect] 13/10/2020 08:40

And just ignore all those de-ramping TROLLs including of course exile

[the chairman elect] 13/10/2020 08:25

DH always over promises whilst JT always under promises so listen to JF who is right bang in the middle!

[exile] 13/10/2020 08:10

....... meanwhile..... somewhere in Dublin....ZZZZZZZZZZZZZ Snore.

[bigbudda] 13/10/2020 07:36

Well done Ken you wont want to be out this weekend with Possible deals announced Crumbs Crumbs is all we need thats what Teeling and Horgan used to say GLA

[palace pete] 13/10/2020 07:17

Wonder if the Irish will attend?

[ajj2003] 13/10/2020 07:09

You certainly are the man Ken ;)Nothing like a quick trip around Europe to generate a bit of interest.

[lippe] 13/10/2020 00:23

Aye and lol ...

[lippe] 13/10/2020 00:22

Time would be better spent researching those characters hiding behind the rose tinty curtains, it might come as a suprise to realise that not all is as it seems ...

[fenners66] 13/10/2020 00:10

bountyfull - what you don't know is we have heard it all before - 20 years ago

The record does not change - its the audience that changes and for each new "convert" or "mug gambler" the story is new , chances of untold riches......


20 years later the song remains the same, another acolyte tells all , that PET just have to get someone to do something , that means someone else can do this , and then if we get help from this lot we can start to think about doing that......


20 years of saying the same.......meanwhile the losses keep racking up , the dilution continues.

[kdickson] 12/10/2020 23:50

That's almost half the Iraqi cabinet! Looks like they really mean to do some serious business deals.

My guess is they will sign a few agreements in Berlin and Paris (meet the TG guys there too) then all end up in London on Tuesday 20th for the first day of the Iraq Petroleum conference.

This makes sense as the conference is organised by, and run from, the London based CRC Group. For a virtual conference to work, it needs to have great internet and people coordination. Better to have all the main players in one central high tech 'command post' to ensure the conference is professional and well managed, rather than individuals on their bedroom laptops! ;)

Bring on some deal announcements to open the conference and to promote Iraq as being open for business!

[kdickson] 12/10/2020 23:22

And here we go!

High level Iraqi delegation, this coming Sunday, multiple top ministers including Oil Minister.


"Al-Kadhimi's European Tour will be hold on October 18, and includes London, Paris and Berlin to conclude agreements in various fields."

[bountyfull] 12/10/2020 22:28

lolz lippe lolz

[lippe] 12/10/2020 21:14

Does the methodology of this lolz research, allow evaluation by others to the validity and reliability ?

[exile] 12/10/2020 20:11

When you look at the age of Teeling the legs will very soon be supported by a zimmer frame. If you look at the accounts you will also see they are in the same dire position they have been in for many, many years. Furthermore I will also wager your research is flawed.