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Author: Rex J. Zedalis Publisher: ISBN: Category : Languages : en Pages :
Book Description
The newly proposed Iraqi oil and gas legislation is currently making its way through Iraq's political process. The specific content of that legislation may be criticized for a variety of reasons. Nonetheless, while early Security Council resolutions addressing Iraq's oil and gas, and revenues from its sale, demonstrated extensive supervision over such by the international community beginning in the 1990s, more recent resolutions assign Iraq the kind of control that suggests its peoples are entitled to manage those resources and monies as they see fit. At the same time, the international community cannot ignore the importance of oil and gas to the economic well-being of Iraq, and the link between economic health and the survival of that country's nascent democracy. As a consequence, despite the fact that Security Council resolutions have seen fit to permit Iraqi authorities to resume autonomous control over that nation's hydrocarbons and the revenues produced by the sale of such, serious consideration should be given to the adoption of a new resolution, extending beyond the current 31 December 2007 date Iraq's protection against legal claims from existing and potential creditors.
Author: Rex J. Zedalis Publisher: ISBN: Category : Languages : en Pages :
Book Description
The newly proposed Iraqi oil and gas legislation is currently making its way through Iraq's political process. The specific content of that legislation may be criticized for a variety of reasons. Nonetheless, while early Security Council resolutions addressing Iraq's oil and gas, and revenues from its sale, demonstrated extensive supervision over such by the international community beginning in the 1990s, more recent resolutions assign Iraq the kind of control that suggests its peoples are entitled to manage those resources and monies as they see fit. At the same time, the international community cannot ignore the importance of oil and gas to the economic well-being of Iraq, and the link between economic health and the survival of that country's nascent democracy. As a consequence, despite the fact that Security Council resolutions have seen fit to permit Iraqi authorities to resume autonomous control over that nation's hydrocarbons and the revenues produced by the sale of such, serious consideration should be given to the adoption of a new resolution, extending beyond the current 31 December 2007 date Iraq's protection against legal claims from existing and potential creditors.
Author: Erin Banco Publisher: ISBN: 9780997722949 Category : BUSINESS & ECONOMICS Languages : en Pages : 0
Book Description
"A fascinating and revealing dive into the murky world of oil contracts that shape power and politics in Iraq." -- Loveday Morris, The Washington Post Jerusalem bureau chief Iraq sits on top of more than 140 billion barrels of oil, making it the owner of the world's fifth largest reserves. When the United States invaded in 2003, the Bush Administration promised that oil revenue would be used to rebuild and democratize the country. But fifteen years later, those dreams have been shattered. The Iraqi economy has flatlined, millions of people are internally displaced, and international institutions have had to provide billions of dollars in assistance to the country every year. Where did all the oil revenue go? Reporter Erin Banco traveled to oil-rich Iraqi Kurdistan--an autonomous region that holds, according to the regional government, some 45 billion barrels of crude--to uncover how widespread corruption, tribal cronyism, kickbacks to political parties, and the war with ISIS have contributed to the plundering of Iraq's oil wealth. The region's economy and political stability have been on the brink of collapse, and local people are suffering. Based on court documents and on exclusive interviews with sources who have investigated energy companies and their dealings with government officials, Pipe Dreams is a cautionary tale that reveals how the dream of an oil-financed, American-style democracy in Iraqi Kurdistan now looks like a completely unrealistic fantasy.
Author: Christopher M. Blanchard Publisher: DIANE Publishing ISBN: 1437922066 Category : Technology & Engineering Languages : en Pages : 33
Book Description
Development in Iraq¿s oil and natural gas sector is proceeding, in spite of continuing delays in agreeing to hydrocarbon sector and revenue sharing legislation to define new terms for the mgmt. of the country¿s significant oil and natural gas resources. Both the Bush Admin. and the 110th Congress considered the passage of oil and gas sector framework and revenue sharing legislation as important benchmarks that would indicate the Iraqi government¿s commitment to promoting political reconciliation and providing a solid foundation for long term economic development in Iraq. This report reviews policy proposals and interim contracts, analyzes the positions of various Iraqi political actors, and discusses potential implications for U.S. foreign policy goals in Iraq. Illus.
Author: Rex J. Zedalis Publisher: Cambridge University Press ISBN: 1139490176 Category : Law Languages : en Pages :
Book Description
This volume presents the first comprehensive examination of the legal issues surrounding international debt recovery on claims against Iraqi oil and gas. In addition to presenting a snapshot view of Iraq's outstanding debt obligations and an analysis of the significance of the theory of odious debt in the context of the Iraqi situation, the list of legal issues examined includes relevant provisions of the Iraqi Constitution of 2005, controlling Security Council resolutions, pertinent articles of the KRG oil and gas law (No. 22) of 2007 and the many nuanced and technical questions raised thereby, legal pronouncements aimed at protecting Iraqi oil and gas and those adopted in selected other nations, and general problems associated with recognition and enforcement of awards or judgments that may involve such oil and gas or revenues from the sale thereof. Also discussed are the lessons learned by the handling of the Iraq debt experience and the transferability of those lessons to future situations.
Author: Rex J. Zedalis Publisher: Cambridge University Press ISBN: 1139480383 Category : Law Languages : en Pages : 361
Book Description
This book is the first and only comprehensive examination of current and future legal principles designed to govern oil and gas activity in Iraq. This study provides a thorough-going review of every conceivable angle on Iraqi oil and gas law, from relevant provisions of the Iraqi Constitution of 2005; to legislative measures comprising the oil and gas framework law, the revenue sharing law, and the laws to reconstitute the Iraq National Oil Company and reorganize the Ministry of Oil; to the Kurdistan Regional Government's 2007 Oil and Gas Law No. (22) and its accompanying Model Production Sharing Contract; and to the apposite rules of international law distilled from both controlling UN resolutions addressing Iraq and more generally applicable principles of international law. This text is essential to the reading collection of every practitioner, business executive, government official, academic, public policy maven, and individual citizen with an interest in the details and controversial aspects of Iraqi energy law.
Author: Publisher: ISBN: Category : Gas Languages : en Pages : 19
Book Description
Iraqi leaders continue to debate a package of hydrocarbon sector and revenue sharing legislation that would define the terms for the future management and development of the country's significant oil and natural gas resources. A group of four proposed laws includes an oil and gas sector framework law and three supporting laws that would outline revenue sharing, restructure Iraq's Ministry of Oil, and create an Iraqi National Oil Company. Both the Bush Administration and Congress consider the passage of oil and gas sector framework and revenue sharing legislation as important benchmarks that would indicate the current Iraqi government's commitment to promoting political reconciliation and long term economic development in Iraq. In the absence of new legislation, revenue sharing mechanisms have been implemented and both the Iraqi national government and the Kurdistan Regional Government have signed oil and natural gas development contracts with foreign firms. The central importance of oil and gas revenue for the Iraqi economy is widely recognized by Iraqis, and most groups accept the need to create new legal and policy guidelines for the development of the country's oil and natural gas. However, Iraq's Council of Representatives (parliament) has not taken action to consider the proposed legislation to date because of ongoing political disputes. Iraqi critics and supporters of the proposed legislation differ strongly on a number of key issues, including the proper role and powers of federal and regional authorities in regulating oil and gas development; the terms and extent of potential foreign participation in the oil and gas sectors; and proposed formulas and mechanisms for equitably sharing oil and gas revenue. Concurrent, related discussions about the city of Kirkuk and proposed amendments to articles of Iraq's constitution that outline federal and regional oil and gas rights also are highly contentious.
Author: Andrea Carcano Publisher: BRILL ISBN: 9004227881 Category : Law Languages : en Pages : 569
Book Description
This volume discusses the practice of transformative military occupation from the perspective of public international law through the prism of the occupation of Iraq and other cases of historical significance. It seeks to assess how international law should respond to measures undertaken in the pursuit of a given transformative project, whether or not supported by the Security Council. A monographic study tackling the bulk of the international law issues that emerge during and as a result of a transformative occupation, based on a comprehensive analysis of historical cases, applicable norms, and relevant facts. "With this thorough and thought provoking study, Andrea Carcano has put us all in his debt." From the foreword by Georges Abi-Saab, Emeritus Professor, Graduate Institute of International Studies and Development.
Author: Muhammed Abed Mazeel Publisher: disserta Verlag ISBN: 3954250047 Category : Business & Economics Languages : en Pages : 97
Book Description
The first steps towards restructuring and reorganizing the institutions and legislation of the Iraqi oil and gas industry must include taking ownership of resources, allocating acreages to Iraqi Kurdistan and neighbour states, improving the transparency as well as governmental participation and fiscal principles. It is important to provide an institutional framework that governs the operations of the industry, including its functions, structure, powers and funding. Operations in the upstream of the industry comprise licenses, leases and contracts. Other considerations covered are award processes, right of governmental participation, marginal fields, indigenous companies, termination and revocation of both licenses and leases, matters on fees, rents and royalties and, finally, provisions on Associated Natural Gas. The legislation in the downstream sector focuses on licensing, refining, marketing and pricing of oil products, transport logistics and facility management companies, pipelines and depots. The operating stocks and Iraq strategic stocks are also necessary. The needs of the downstream natural gas include both technical and commercial licensing regulations and conditions, as the network, gas supply licenses, transportation pipelines licenses and the whole sale market in addition to the possibility of third party access, customer protection, the pricing regime, public service obligations, competition and market regulation. The legislation is an amendment to the existing Iraqi Technical Service Contracts (TSC) and Production Sharing Contracts Agreements (PSC) in Iraqi Kurdistan based on the need to create a new fiscal framework that takes various compelling issues into consideration. It needs to capture the full gas value chain for taxation purposes in order to develop a fiscal regime for gas removed from oil and to create thereby a level playing field for all investors in gas and promoting the effective management of costs across the industry, which in turn will maximize the government's take. Other considerations revolve around the requirement to develop a fiscal system, which responds to changes in price, and to clarify inconsistencies or conflicts in the application of fiscal terms for oil and gas; and, finally, to develop a fiscal rule of general application based on a body of expected fiscal laws. Quality, health, safety and environment are missing elements in Iraq. During the restructuring and reorganization of the institutions the QHSE should take on a major role in working with the aforementioned departments in the Oil Ministry and the operating companies. The obligations of the state and international oil companies towards the state environmental regulations and public rules must be upheld according to the licensees, lessees and contractors considering matters of abandonment, decommissioning and disposal and their funding. The various actors in the oil and gas production are obligated towards various communities in the oil-producing region of the country, with supporting community development, providing employment opportunities, compensation, infrastructure, protection and management of the environment as essential components. The Ministry of Oil remains a civil service outfit that is ill-equipped to conceive and enact the required policies for such a complex and sophisticated industry. Hence, there is a strong need for principal and basic interaction between Federal Oil Ministry, existing directorial and state oil companies, Kurdistan Ministry of Energy and Natural Resources, and private sector operatives. This applies also to the reorganization and restructuring of Federal Oil Ministry, existing directorial and state oil companies, Iraqi National Oil Company and Iraqi National Gas Company.
Author: Rex J. Zedalis
Author: Rex J. Zedalis
Author: Erin Banco
Author: Christopher M. Blanchard
Author: Rex J. Zedalis
Author: Rex J. Zedalis
Author: United States. Congress. House. Committee on the Budget
Author: Kadhim A. Al-Eyd
Author: 
Author: Andrea Carcano
Author: Muhammed Abed Mazeel